Goldilocks' Comments and Global Economic News Monday Evening 2-26-24
Goldilocks' Comments and Global Economic News Monday Evening 2-26-24
Good Evening Dinar Recaps,
WTO Iraq Announcement:
“Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in... The capital, Abu Dhabi,” points to “the completion of the requirements for Iraq’s access to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
Iraq is currently participating in the World Trade Organization. Their potential membership is moving forward. As a full member of the WTO, they will need a rate to fully participate in this inclusion.
This is truly a monumental achievement for Iraq and something the world has been waiting for for a long time. Economy--News
© Goldilocks
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"We expect Việt Nam’s export orders to continue increasing in the months ahead due to the surprising strength of the US economy, as evidenced by the highest level of US consumer confidence since the COVID reopening boom.”
"The resulting broad-based economic recovery (in exports, manufacturing, and consumption) should boost earnings for a range of listed stocks, enabling active managers to outperform the broader stock market."
Goldilocks' Comments and Global Economic News Monday Evening 2-26-24
Good Evening Dinar Recaps,
WTO Iraq Announcement:
“Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in... The capital, Abu Dhabi,” points to “the completion of the requirements for Iraq’s access to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
Iraq is currently participating in the World Trade Organization. Their potential membership is moving forward. As a full member of the WTO, they will need a rate to fully participate in this inclusion.
This is truly a monumental achievement for Iraq and something the world has been waiting for for a long time. Economy--News
© Goldilocks
~~~~~~~~~~
"We expect Việt Nam’s export orders to continue increasing in the months ahead due to the surprising strength of the US economy, as evidenced by the highest level of US consumer confidence since the COVID reopening boom.”
"The resulting broad-based economic recovery (in exports, manufacturing, and consumption) should boost earnings for a range of listed stocks, enabling active managers to outperform the broader stock market."
Vietnam is showing trading statistics that indicate a self-sustaining economy that is growing, and even has, greater potential going forward.
At this point, Vietnam is showing momentum. When a country starts to show a trade surplus, it indicates that a demand for a country's goods and currency is in higher demand. Thus, creating the need for an increase in a country's currency value. Vietnam Net Global Edge Investopedia
© Goldilocks
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"The WTO's 13th Ministerial Conference (MC13) will take place from 26 to 29 February 2024 in Abu Dhabi, United Arab Emirates. Ministers from across the world will attend to review the functioning of the multilateral trading system and to take action on the future work of the WTO. The Conference will be chaired by H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade."
There are high expectations that full acceptance into the WTO for Iraq will happen during this meeting taking place today.
Let's stay grounded. We will soon find out if Iraq is fully accepted into the WTO or not this week. WTO
© Goldilocks
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Working Party Chair visits Baghdad to hold high-level consultations on Iraq’s | WTO | 2024 News items - accession
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Does deleting the currency’s zeros affect its value? An economist explains
https://jaredaiq.net/News/7929
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Global trade has nearly flatlined. Populism is taking a toll on growth | World Bank
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Unprecedented shipping disruptions raise risk to global trade, UNCTAD warns | UNCTAD
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Iraq Economic News and Points to Ponder Monday Afternoon 2-26-24
Iraq Economic News and Points to Ponder Monday Afternoon 2-26-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Expects To Reduce The Printing Of The Iraqi Currency In The Coming Years
Time: 02/26/2024 Read: 2,925 times {Economic: Al-Fart News} The Central Bank of Iraq expects that electronic payment operations will reduce the printing of paper currencies in the coming years.
The Director of the Operations and Settlements Department in the Bank’s Information Technology and Payments Department, Zaid Hamid Rashid, said in a press statement, “The bank provided the infrastructure for electronic payment operations, by spreading culture and awareness of this issue and implementing the decisions of the Council of Ministers,” noting that “these decisions It can be applied in settlement systems to activate the mutuality through which these decisions are implemented.”
He added, "Every new business may face some obstacles, problems, and mistakes at the beginning, and we are working to find solutions to these obstacles," pointing out that "holding workshops and meetings in this regard, to review a number of numbers that proved the project's success and citizens' acceptance of it."
Iraq Economic News and Points to Ponder Monday Afternoon 2-26-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Expects To Reduce The Printing Of The Iraqi Currency In The Coming Years
Time: 02/26/2024 Read: 2,925 times {Economic: Al-Fart News} The Central Bank of Iraq expects that electronic payment operations will reduce the printing of paper currencies in the coming years.
The Director of the Operations and Settlements Department in the Bank’s Information Technology and Payments Department, Zaid Hamid Rashid, said in a press statement, “The bank provided the infrastructure for electronic payment operations, by spreading culture and awareness of this issue and implementing the decisions of the Council of Ministers,” noting that “these decisions It can be applied in settlement systems to activate the mutuality through which these decisions are implemented.”
He added, "Every new business may face some obstacles, problems, and mistakes at the beginning, and we are working to find solutions to these obstacles," pointing out that "holding workshops and meetings in this regard, to review a number of numbers that proved the project's success and citizens' acceptance of it."
Rashid continued, "Any problem or obstacle is a complete cycle, and every party has a role in it, such as the central bank and government banks that lacked their own systems, which was the main reason for these problems."
Rashid explained that "electronic payment will reduce the process of printing paper currency, in addition to the strategic benefits for the state in general and the citizen in particular." LINK
The Minister Of Finance Stresses The Importance Of Activating The Service And Economic Programs Of The Provincial Councils
Monday 26, February 2024 | Political Number of readings: 238 Baghdad / NINA / Minister of Finance, Taif Sami, stressed the importance of activating the service and economic programs of the provincial councils and the necessity of their compatibility with the government program and its basic priorities.
The Ministry stated in a statement: “The Minister of Finance received today, Monday, at the Ministry’s headquarters, the Chairman of the Muthanna Governorate Council, Ahmed Mohsen Driul, and members of the new Council.”
Sami renewed her blessing for the Council to begin its new work and choose the local government, noting: “The Ministry is working to empower the service and executive departments of the governorates by providing their financial allocations allocated within the budget, to meet the ambitions of citizens, complete strategic projects in infrastructure, and move services to a level that the citizen can touch.” ./End 8 https://ninanews.com/Website/News/Details?key=1109883
Revealing A Movement To List Government Bonds In The Markets
Economy | 02/26/2024 Mawazine News – Baghdad The Iraqi Securities Commission highlighted, on Monday, the importance of government bonds, noting that they provide financial liquidity for investment projects, while revealing the existence of a movement from the Central Bank to list government bonds in the markets.
The Chairman of the Authority, Faisal Al-Haims, said in a statement to Mawazine News, “Three issues of government bonds were issued, as the first and second issues were launched, and now there is the third issue.”
He pointed out that “there are requests from the Central Bank of Iraq to list these bonds in the market,” noting that “those bonds are debt securities owed by the Iraqi government, in exchange for interest given to the owner of this bond.”
Al-Haims explained, “This measure will provide financial liquidity for the investment projects launched by the Prime Minister and his government,” suggesting that they “will be crowned with goodness and success for the Iraqis.”
Government bonds are a type of debt-based investment, where you lend money to the government in exchange for an agreed interest rate. Governments use them to raise money that can be spent on infrastructure or new projects, and investors can use them to obtain set returns, paid at regular intervals. https://www.mawazin.net/Details.aspx?jimare=242771
The Iraqi Central Bank Sold More Than $206 Million At Auction Today
Money and business Economy News – Baghdad The Central Bank of Iraq announced, on Monday, its sales of hard currency, amounting to more than 206 million dollars in today’s transactions, according to the official rate of 1310.
The bank's data showed that the total cash withdrawals amounted to $30,030,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $176,525,016, while the total sale amounted to $206,555,016. Views 73 02/26/2024 - 1:44 PM https://economy-news.net/content.php?id=40879
Do Electronic Payments Reduce The Printing Of Paper Currencies In Iraq?
Economy News – Baghdad The Central Bank of Iraq expected, on Monday, that electronic payment operations will reduce the printing of paper currencies in the coming years.
The Director of the Operations and Settlements Department in the Information Technology and Payments Department, Zaid Hamid Rashid, said in a statement followed by Al-Iqtisad News Agency, that the bank provided the infrastructure for electronic payment operations, by spreading culture and awareness of this issue and implementing the decisions of the Council of Ministers, indicating that “ These decisions can be applied through settlement systems to activate the reciprocity through which these decisions are implemented.”
He added, "Every new work may face some obstacles, problems, and errors at the beginning, and we are working to find solutions to these obstacles," pointing out, "holding workshops and meetings in this regard, to review a number of numbers that proved the project's success and citizens' acceptance of it."
Rashid continued, "Any problem or obstacle is a complete cycle, and every party has a role in it, such as the central bank and government banks that lacked the presence of their own systems, which was the main reason for the occurrence of these problems."
He explained that "electronic payment will reduce the process of printing paper currency, as well as the strategic benefits for the state in general and the citizen in particular."
187 views 02/26/2024 - https://economy-news.net/content.php?id=40865
Oil Prices Fell In Early Asian Trading
Economy | 08:44 - 02/26/2024 Mawazine News – Baghdad Oil prices fell in early Asian trading on Monday, extending losses from the previous session after oil ended the week down by two to three percent amid market concerns that higher-than-expected inflation may delay a cut in US interest rates.
Brent crude futures fell 34 cents to $81.28 a barrel by 01:21 GMT.
US West Texas Intermediate crude futures also fell 33 cents to $76.16.
The morning decline was based on losses last week, when Brent crude fell about two percent and US West Texas Intermediate crude fell more than three percent due to indications that cutting US interest rates may be postponed for two months due to high inflation.
https://www.mawazin.net/Details.aspx?jimare=242742
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points To Ponder on Change and Transience:
The more things change, the more they stay the same. (Plus ca change, plus c'est la meme chose.) -Alphonse Karr
There are three things which the public will always clamor for, sooner or later: namely, novelty, novelty, novelty. - Thomas Hood
There is nothing permanent except change. - Heraclitus
You can't step into the same river twice. - Heraclitus
What is actual is actual only for one time. And only for one place. - T. S. Eliot
http://famousquotesandauthors.com/topics/change_and_transience_quotes.html
"Tidbits From TNT" Monday 2-26-2024
TNT:
CandyKisses: 'Unprecedented' agreement in the Iraqi government to remove US forces
Baghdad Today - Translation
The Iranian Press TV Agency announced in a report published on Sunday (February 25, 2024) the existence of what it described as an "unprecedented consensus" between leaders and political officials within the Iraqi government to "remove" US forces from the country completely, Declaring the country's full ability to face the challenges and threat of terrorism.
The agency said, according to what was translated by "Baghdad Today", that the National Security Adviser Qassim Al-Araji, confirmed to her the information she previously obtained about the existence of political and security consensus on the removal of US forces, explaining that "Iraqi leaders have become confident of the ability of Iraqi forces to face the dangers and challenges to the country without the need for US forces, whose presence has become harmful to Iraqi security as a result of the targeting operations carried out inside the country."
TNT:
CandyKisses: 'Unprecedented' agreement in the Iraqi government to remove US forces
Baghdad Today - Translation
The Iranian Press TV Agency announced in a report published on Sunday (February 25, 2024) the existence of what it described as an "unprecedented consensus" between leaders and political officials within the Iraqi government to "remove" US forces from the country completely, Declaring the country's full ability to face the challenges and threat of terrorism.
The agency said, according to what was translated by "Baghdad Today", that the National Security Adviser Qassim Al-Araji, confirmed to her the information she previously obtained about the existence of political and security consensus on the removal of US forces, explaining that "Iraqi leaders have become confident of the ability of Iraqi forces to face the dangers and challenges to the country without the need for US forces, whose presence has become harmful to Iraqi security as a result of the targeting operations carried out inside the country."
The agency also confirmed that it had obtained information confirming that the Iraqi government will "sign individual security agreements" with the countries that now represent the international coalition alongside the United States, noting that these agreements will ensure that the government in Baghdad receives the support of those countries for Iraq in addition to the continuous strengthening of the capabilities of the Iraqi forces, by withdrawing their description.
It is noteworthy that the Iraqi parliament took in 2020 a non-binding decision to remove US forces from Iraq, as the agency indicated that the current consensus between the political and security leaders in the country will witness during the coming period another decision from Baghdad that is binding after the agreement with the US side.
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Tishwash: Government work to complete the 2024 budget schedules
The Ministry of Planning confirmed today, Monday, the continuation of its work to complete the 2024 budget schedules.
Ministry spokesman, Abdul Zahra Al-Hindawi, said, “Work is continuing to complete the 2024 budget schedules in coordination with the Ministries of Finance and Oil and the relevant authorities, so that they will be discussed soon by the government and then sent to the House of Representatives.”
He explained, "The budget tables include the volume of revenues for the year 2024 and the volume of expenditures in their operational and investment aspects."
Finance Minister Taif Sami confirmed, during her meeting with the Finance Committee, that “employees’ salaries for the year 2024 are fully insured,” indicating that “the release of the salaries of the region’s employees for the current month is subject to the submission of lists of names, and we have stipulated nationalization to disburse them during the coming months.”
She added, "The Ministry has begun launching financing for the operational budget," noting that "the 2024 budget tables will soon be sent to the Council of Ministers for approval and sending them to Parliament." link
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Tishwash: Prime Minister: The government is open to developing relations with all countries of the region
INA Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Sunday, that the government is open to developing relations with all countries of the region.
The Prime Minister’s Media Office stated in a statement received by the Iraqi News Agency (INA): “The Prime Minister, Muhammad Shia’ al-Sudani, received, this Sunday afternoon, the Ambassador of the Islamic Republic of Iran to Iraq, Muhammad Kadhim Al Sadiq, and during the meeting, they discussed bilateral relations and ways to Strengthening and developing it in all fields, in a way that achieves the mutual benefit of the two friendly countries.”
The Prime Minister stressed, according to the statement, that “the government is open to developing relations with all countries of the region, and is working on major projects that achieve comprehensive integration between these countries, which have many ties and commonalities and ambitious development plans, in a way that consolidates regional and international stability.” link
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Tishwash: We will host the Governor of the Central Bank and the directors of licensed banks - Parliamentary Integrity
Member of the Parliamentary Integrity Committee, Abdul Amir Al-Mayahi, said that the Central Bank directed the banks to deliver external transfers in dollars, but some of them did not comply with the instructions, and we will take quick decisions against them, indicating that there is talk within the committee to host the Governor of the Central Bank, Ali Al-Alaq, and the directors of licensed banks, in the coming days, Against the background of these violations.
Al-Mayahi explained, in an interview with the official newspaper, followed by the 964 Network , that “banks’ violation of instructions regarding converting customers’ transfers in foreign currency into the Iraqi dinar at a price set by the state at 132 causes serious harm to customers, due to the price difference,” calling it “a violation, despite From the directive of the Central Bank dated 12/31/2023, and its confirmation on 1/2/2024, then reaffirming the instructions for a period not exceeding nine days on 1/11/2024 on the necessity of adhering to the instructions of the Central Bank and taking into account the rights of customers.”
Al-Mayahi added, “The Central Bank directed that customers be given their transfers in dollars, not Iraqi dinars, and that the banks should inform the Central Bank of the amounts they need for cash dollars to meet their customers’ requests,” indicating that “the banks, unfortunately, did not respond to the call of the Central Bank, did not implement the instructions, and are still delivering external transfers to customers in dinars.” .
He pointed out that “the Integrity Committee will have a major role in relation to these violations, especially since there is talk within the committee to start hosting the Governor of the Central Bank and the advanced staff in the coming days, in addition to the directors of licensed banks to examine the violations committed by them.”
Al-Mayahi stated, “Council of Ministers Resolution No. (23.26) of 2023 emphasized taking into account dealing in the Iraqi currency and supplying the dinar, and this does not apply to converting foreign remittances to the dinar,” and said: “This is a clear violation and quick decisions will be taken regarding it by the committee.” link
Mot: ... DANG!!!!!!
Mot: .. It's about Time
MilitiaMan: Iraqi Dinar -- IQD -- Final Reconciliation - Integration Globally - Iraq’s accession - WTO - IFD
Iraqi Dinar -- IQD -- Final Reconciliation - Integration Globally - Iraq’s accession - WTO - IFD
MilitiaMan and Crew: 2-26-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraqi Dinar -- IQD -- Final Reconciliation - Integration Globally - Iraq’s accession - WTO - IFD
MilitiaMan and Crew: 2-26-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points to Ponder Sunday Evening 2-25-24
Iraq Economic News and Points to Ponder Sunday Evening 2-25-24
Tlm724 Administrator Bondlady’s Corner
For The First Time In 20 Years.. Iraq Participates In The Ministerial Conference Of The World Trade Organization
Minister of Trade Atheer Al-Ghurairi Economy News – Baghdad On Sunday, the Ministry of Commerce participated for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is being held in the capital, Abu Dhabi.
Minister Atheer Al-Ghurairi said in a speech during his participation in the preparatory meeting of Arab trade and economic ministers within the Arab group for the thirteenth Ministerial Conference of the World Trade Organization, followed by Al-Iqtisad News, that “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in...
The capital, Abu Dhabi,” pointing to “the completion of the requirements for Iraq’s accession to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
Iraq Economic News and Points to Ponder Sunday Evening 2-25-24
Tlm724 Administrator Bondlady’s Corner
For The First Time In 20 Years.. Iraq Participates In The Ministerial Conference Of The World Trade Organization
Minister of Trade Atheer Al-Ghurairi Economy News – Baghdad On Sunday, the Ministry of Commerce participated for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is being held in the capital, Abu Dhabi.
Minister Atheer Al-Ghurairi said in a speech during his participation in the preparatory meeting of Arab trade and economic ministers within the Arab group for the thirteenth Ministerial Conference of the World Trade Organization, followed by Al-Iqtisad News, that “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in...
The capital, Abu Dhabi,” pointing to “the completion of the requirements for Iraq’s accession to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
The minister pointed to "the desire and seriousness of the Iraqi government to establish balanced economic relations with all countries of the world at various levels and fields by improving the business and investment environment and making real reforms in laws and legislation."
He thanked "the Kingdom of Saudi Arabia for supporting the process of Iraq's accession to the international organization through the visit of its permanent ambassador to the organization, Saqr Al-Muqbel, and his chairmanship of the working group for Iraq's accession."
Regarding intra-trade and increasing trade exchange between Arab countries, Minister Al-Ghurairi noted “Iraq’s keenness on the importance of the presence of Arab countries in Iraq to restore its effective role in economic organizations.”
The Minister offered congratulations to "the State of the Comoros and East Timor on obtaining membership in the World Trade Organization." 02/25/2024 - https://economy-news.net/content.php?id=40856
Al-Sudani: Strategic Projects Will Work To Attract Partnership And Economic Integration In Iraq
Reconstruction and building Economy News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed on Sunday that major strategic projects will work to attract partnership and economic integration, while pointing to Iraq's foreign position.
Al-Sudani's statements came in a dialogue symposium held by the Baghdad Institute for Dialogue, under the slogan (Regional Communication... The Centrality of Iraq), during which current topics and the course of Iraqi relations with neighboring countries and the world were discussed, and the most prominent positions in this regard were discussed.
Al-Sudani pointed out, at the beginning of his speech during the symposium, the importance of these research institutions in decision-making, and their focus on facts away from confusion and prejudices, indicating that the government has set a basic goal for its work, which is to build trust with the Iraqi street, which is itself a criterion for determining priorities in work. .
On the security axis, he stressed that ISIS today represents a defeated organization. The recent operations of our armed forces have proven its inability to exist even in remote areas. If stability is achieved and the capabilities of our forces develop, they will strengthen the conviction of the possibility of ending the presence of the international coalition and moving towards bilateral relations.
Regarding foreign relations, the Prime Minister stated that Iraq follows a balanced approach, staying away from alliances and axes, and is open to developed relations with everyone, and has the ability to communicate with them, and also has distinguished relations with the United States and Iran.
Al-Sudani reiterated "Iraq's position that rejects its lands being an arena for others' conflict, pointing out the importance of intertwining interests in the region, and the shift from political focus to economic focus."
He continued by saying, "Major strategic projects, such as the Development Road Project, will work to attract partnership and economic integration, and they reinforce Iraq's idea of proposing an economic bloc, as was previously proposed at the Arab Summit, as projects that fuel development and enhance integration between Arab countries." 99 views 02/25/2024 - https://economy-news.net/content.php?id=40836
During The Past Week... Iraq's Oil Exports To America Increased
Economy | 02/25/2024 Mawazine News – Baghdad The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose during the past week.
The administration said in a table seen by Mawazine News Agency, “The average US imports of crude oil during the past week from 9 major countries amounted to 5.642 million barrels per day, an increase of 217 thousand barrels per day compared to the previous week, which amounted to 5.425 million barrels per day.” .
She added, "Iraq's oil exports to America amounted to 226 thousand barrels per day last week, an increase of 183 thousand barrels per day from the previous week, which amounted to 43 thousand barrels per day."
The administration also indicated that “most of America’s oil revenues during the past week came from Canada at an average of 3.669 million barrels per day, followed by Mexico with an average of 784 thousand barrels per day, and oil revenues from Saudi Arabia amounted to an average of 224 thousand barrels per day, and then Colombia at an average of 286 thousand barrels per day.” ".
According to the table, “the amount of American imports of crude oil from Nigeria was at a rate of 159 thousand barrels per day, from Ecuador at a rate of 158 thousand barrels per day, from Libya at a rate of 92 thousand barrels per day, and from Brazil at a rate of 44 thousand barrels per day.”
His Advisor: Al-Sudani Will Go To Washington To Enhance Strategic Cooperation
Political | 02/25/2024 Mawazine News - Baghdad, the political advisor to the Prime Minister, Fadi Al-Shammari, confirmed that preparations have begun for the visit of the Prime Minister, Muhammad Shia Al-Sudani, to Washington.
Al-Shammari said in a televised interview followed by Mawazine News, “Iraqi diplomatic teams are working to organize the Prime Minister’s visit to Washington and its agendas.”
He added, "The political file and the nature of the partnership will be the priority in the discussion between Iraq and America," noting that "the Iraqi embassy in Washington is active and is continuously supplied with files.
He pointed out that "Iraq has activated its relations with European countries and with China and is working to diversify its political and economic relations." Pointing out that "Iraq wants to diversify the space of external openness and establish balanced relations with everyone."
https://www.mawazin.net/Details.aspx?jimare=242741
Foreign Ministry: Sudanese Will Raise The Issue Of Withdrawal Of American Forces During His Visit To Washington
Political | 02/25/2024 Mawazine News – Baghdad The Minister of Foreign Affairs, Fuad Hussein, confirmed the continuation of negotiations with the American side regarding the presence of international coalition forces in Iraq.
Hussein said, “The negotiations are continuing and the second round has ended, and we hope to have other rounds.”
It is also possible that there will be a round of discussions in Washington during the visit of the Iraqi Prime Minister, Muhammad Shia al-Sudani, to the United States, according to Hussein.
And last January 25, The Iraqi Ministry of Foreign Affairs announced the success of the negotiations between the Iraqi and American governments, which began in August 2023, to formulate a timetable specifying the duration of the presence of international coalition advisors in Iraq and ending the military mission of the coalition against ISIS. https://www.mawazin.net/Details.aspx?jimare=242737
The End Of The Second Round Of Negotiations Between Baghdad And Washington For The Withdrawal Of The Coalition... And Iraqi Hopes For Another
Time: 02/25/2024 20:09:57 Read: 1,339 times {Politics: Al-Furat News} Foreign Minister, Fouad Hussein, announced today, Sunday, the end of the second round of negotiations between Baghdad and Washington regarding the presence of international coalition forces in Iraq.
Hussein said, in a press statement, “The negotiations are continuing and the second round has ended, and we hope to have other rounds,” without revealing the results of the last two rounds.
It is also possible that there will be a round of discussions in Washington during the visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States, according to Hussein.
On January 25, the Ministry of Foreign Affairs announced the success of the negotiations between the Iraqi and American governments, which began in August 2023, to formulate a timetable specifying the duration of the presence of international coalition advisors in Iraq and ending the military mission of the coalition against ISIS. LINK
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points To Ponder on Change and Transience:
A permanent state of transition is man's most noble condition. - Juan Ramon Jimenez
Change is not made without inconvenience, even from worse to better. - Richard Hooker
All things are subject to change, and we change with them. (Omnia mutantur, nos et mutamur in illis.)- Anonymous
If you want things to stay as they are, things will have to change. - Giuseppe di Lampedusa
The days come and go like muffled and veiled figures sent from a distant friendly party, but they say nothing, and if we do not use the gifts they bring, they carry them as silently away. - Ralph Waldo Emerson
http://famousquotesandauthors.com/topics/change_and_transience_quotes.html
"More Tidbits From TNT" Sunday PM 2-25-2024
TNT:
TNT: Does deleting the currency’s zeros affect its value? An economist explains
Economic expert, Durgham Muhammad, said on Sunday that deleting the currency’s zeros does not conflict with its value, explaining what needs to be taken before resorting to this step.
Muhammad told Jarida, “Deleting the currency’s zeros is a regulatory process that does not conflict with its value, but this step needs educational campaigns to precede it, and a transitional period for trading the currency with its zeros and the new currency to know that the two currencies are equal in value.”
He stressed, “Printing new denominations must be proportional to the market’s need to cover daily trading, provided that there is no significant increase in the monetary supply in the market so that inflation does not occur.” link
TNT:
TNT: Does deleting the currency’s zeros affect its value? An economist explains
Economic expert, Durgham Muhammad, said on Sunday that deleting the currency’s zeros does not conflict with its value, explaining what needs to be taken before resorting to this step.
Muhammad told Jarida, “Deleting the currency’s zeros is a regulatory process that does not conflict with its value, but this step needs educational campaigns to precede it, and a transitional period for trading the currency with its zeros and the new currency to know that the two currencies are equal in value.”
He stressed, “Printing new denominations must be proportional to the market’s need to cover daily trading, provided that there is no significant increase in the monetary supply in the market so that inflation does not occur.” link
Tishwash: The end of the second round of negotiations between Baghdad and Washington for the withdrawal of the coalition... and Iraqi hopes for another
Foreign Minister, Fouad Hussein, announced today, Sunday, the end of the second round of negotiations between Baghdad and Washington regarding the presence of international coalition forces in Iraq.
Hussein said, in a press statement, “The negotiations are continuing and the second round has ended, and we hope to have other rounds,” without revealing the results of the last two rounds.
It is also possible that there will be a round of discussions in Washington during the visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States, according to Hussein.
On January 25, the Ministry of Foreign Affairs announced the success of the negotiations between the Iraqi and American governments, which began in August 2023, to formulate a timetable specifying the duration of the presence of international coalition advisors in Iraq and ending the military mission of the coalition against ISIS. link
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Tishwash: For the first time in 20 years.. Iraq participates in the Ministerial Conference of the World Trade Organization
On Sunday, the Ministry of Commerce participated for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is being held in the capital, Abu Dhabi.
Minister Atheer Al-Ghurairi said in a speech during his participation in the preparatory meeting of Arab trade and economic ministers within the Arab group for the thirteenth Ministerial Conference of the World Trade Organization, followed by Al-Iqtisad News, that “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in... The capital, Abu Dhabi,” pointing to “the completion of the requirements for Iraq’s accession to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
The minister pointed to "the desire and seriousness of the Iraqi government to establish balanced economic relations with all countries of the world at various levels and fields by improving the business and investment environment and making real reforms in laws and legislation."
He thanked "the Kingdom of Saudi Arabia for supporting the process of Iraq's accession to the international organization through the visit of its permanent ambassador to the organization, Saqr Al-Muqbel, and his chairmanship of the working group for Iraq's accession."
Regarding intra-trade and increasing trade exchange between Arab countries, Minister Al-Ghurairi noted “Iraq’s keenness on the importance of the presence of Arab countries in Iraq to restore its effective role in economic organizations.”
The Minister offered congratulations to "the State of the Comoros and East Timor on obtaining membership in the World Trade Organization link
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Tishwash: Al-Sudani: Strategic projects will work to attract partnership and economic integration in Iraq
Prime Minister Muhammad Shiaa Al-Sudani confirmed on Sunday that major strategic projects will work to attract partnership and economic integration, while pointing to Iraq's foreign position.
Al-Sudani's statements came in a dialogue symposium held by the Baghdad Institute for Dialogue, under the slogan (Regional Communication... The Centrality of Iraq), during which current topics and the course of Iraqi relations with neighboring countries and the world were discussed, and the most prominent positions in this regard were discussed.
Al-Sudani pointed out, at the beginning of his speech during the symposium, the importance of these research institutions in decision-making, and their focus on facts away from confusion and prejudices, indicating that the government has set a primary goal for its work, which is to build trust with the Iraqi street, which is itself a criterion for determining priorities in work. .
On the security axis, he stressed that ISIS today represents a defeated organization. The recent operations of our armed forces have proven its inability to exist even in remote areas. If stability is achieved and the capabilities of our forces develop, they will strengthen the conviction of the possibility of ending the presence of the international coalition and moving towards bilateral relations.
Regarding foreign relations, the Prime Minister stated that Iraq follows a balanced approach, staying away from alliances and axes, and is open to developed relations with everyone, and has the ability to communicate with them, and also has distinguished relations with the United States and Iran.
Al-Sudani reiterated "Iraq's position that rejects its lands being an arena for others' conflict, pointing out the importance of intertwining interests in the region, and the shift from political focus to economic focus."
He continued by saying, "Major strategic projects, such as the Development Road Project, will work to attract partnership and economic integration, and they reinforce Iraq's idea of proposing an economic bloc, as was previously proposed at the Arab Summit, as projects that fuel development and enhance integration between Arab countries link
Mot: . Now - Don't Spoil it Ya Knows!!!
Goldilocks' Comments and Global Economic Sunday Evening 2-25-24
Goldilocks' Comments and Global Economic Sunday Evening 2-25-24
Good Evening Dinar Recaps,
HUTCHINSON, Kan. — "Reno County State Rep. Michael Murphy is backing a bill to allow for physical precious metals to pay for items in Kansas."
Kansas is the first state to run this proposal through the legislative committee process. Florida, Utah, Texas, and Oklahoma are all working on one.
If successful, these states will have their own depository. People will be able to use a debit card that represents the gold and silver held in this depository just like a bank.
The difference is that gold and silver is held in the depository and not paper money. Hutch Post
© Goldilocks
~~~~~~~~~~
Goldilocks' Comments and Global Economic Sunday Evening 2-25-24
Good Evening Dinar Recaps,
HUTCHINSON, Kan. — "Reno County State Rep. Michael Murphy is backing a bill to allow for physical precious metals to pay for items in Kansas."
Kansas is the first state to run this proposal through the legislative committee process. Florida, Utah, Texas, and Oklahoma are all working on one.
If successful, these states will have their own depository. People will be able to use a debit card that represents the gold and silver held in this depository just like a bank.
The difference is that gold and silver is held in the depository and not paper money. Hutch Post
© Goldilocks
~~~~~~~~~~
"Among the largest Citibank in the U.S. has conducted a simulation in which blockchain was used to tokenize a private equity fund, which could pave the way for greater institutional adoption of blockchain."
This pilot program is still in process. Yet, the soon-to-be adoption of crypto regulation and stablecoin utility use will make this a viable choice in the near future.
ETFs, collateralized assets, and tokenized assets held in a custody wallet are beginning to find their way into the banking system.
The simulations of blockchain transactions have been tested and seen as seamless movements of digital money very similar to the way traditional banking transactions have taken place.
The difference is that tokenized assets are collateralized by precious metals moving our banking system into a real-world asset type of transaction based on real values. CTN News l Chiang Rai Times
© Goldilocks
~~~~~~~~~~
"The US securities regulators are embarking on a comprehensive reform of the market infrastructure for US Treasuries. US Treasuries are debt securities issued by the United States Department of the Treasury to fund government spending."
These include:
Treasury bills (T-bills)
Treasury notes (T-notes)
Treasury bonds (T-bonds)
With the introduction of New Dealer Registration Requirements for the CFTC and the SEC, they will be working closer together in the future. EVERYTHING WILL BE ROLLING OVER TO THE CFTC FOR GOVERNANCE AND TRANSPARENCY WITH THIS NEW INFRASTRUCTURE REFORM OF THE NEW DIGITAL ECONOMY.
This new requirement for the US Treasury to register as a dealer will provide more collaboration between the CFTC and the SEC. The SEC will take a more active role in registering the new tokenized asset economy and the CFTC will take a more active role in governing these assets.
These new reforms will enforce higher Capital Requirements and increase more regulatory oversight to the Financial Stability Oversight Council.
All roads lead to gold, and gold will set us free.
© Goldilocks
Crypto Globe
Wikipedia
Maples
CFTC
~~~~~~~~~~
The Bond Market Is Doing Something Not Seen in Decades. It Could Signal Trouble in the Stock Market. | The Motley Fool
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Warren Buffett uses his annual letter to warn about Wall Street and recount Berkshire's successes | Finance Yahoo
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WASHINGTON (AP) — As income tax filing season officially starts on Monday, a limited number of taxpayers in 12 states will soon be eligible to join an IRS pilot program that will allow them to calculate and submit their returns to the government directly without using commercial tax preparation software.
The Direct File pilot program is rolling out in stages. To start, certain government employees are being invited to participate in the first weeks. The program will expand in February and March to include additional taxpayers in certain states. PBS
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How Artificial Intelligence Is Reshaping Banking | Forbes
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Thank you Dinar Recaps
Is it time to delete zeros from the Iraqi dinar ?
KTFA:
Clare: Ziad Al-Hashemi, a researcher in international economy (Cambridge/UK) writes to Iraq Observer: Is it time to delete ?zeros from the Iraqi dinar
February 24, 2024 Opinions / Iraq Observer
The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980 Since the beginning of 2010, the talk within the Iraqi economic community has expanded about the zeros that burdened the dinar for nearly two decades, and the need to deal with them, and to rid the dinar and free it of the burden of heavy zeros.
The goal is (return to the value of 1980 dinar), like the issues and topics discussed and interacted by Iraqis, opinions have varied and differed between an enthusiastic supporter of deleting zeros and a hesitant and rejecter, and the .state of disparity continues to this day
The process of deleting zeros is related to replacing the old currency with multiple zeros with a new currency free of zeros.
KTFA:
Clare: Ziad Al-Hashemi, a researcher in international economy (Cambridge/UK) writes to Iraq Observer: Is it time to delete ?zeros from the Iraqi dinar
February 24, 2024 Opinions / Iraq Observer
The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980 Since the beginning of 2010, the talk within the Iraqi economic community has expanded about the zeros that burdened the dinar for nearly two decades, and the need to deal with them, and to rid the dinar and free it of the burden of heavy zeros.
The goal is (return to the value of 1980 dinar), like the issues and topics discussed and interacted by Iraqis, opinions have varied and differed between an enthusiastic supporter of deleting zeros and a hesitant and rejecter, and the .state of disparity continues to this day
The process of deleting zeros is related to replacing the old currency with multiple zeros with a new currency free of zeros.
In the case of the Iraqi dinar, for example, the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency, and as is traded among economists in general and cashians in particular, the deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its .volume under circulation
These and other benefits have encouraged some countries to adopt the process of deleting zeros from their zero-sweaden currencies, in an attempt to get rid of the burdens of inflation, or to start a new economic page, going beyond the mistakes of the past.
According to some statistics, dozens of countries have tended to delete zeros, including countries in South America, Iran, Turkey and other countries in Africa and East Asia, and in total, we have 70 deletions of currency .zeros since 1960 until today Returning to the Iraqi situation, the huge accumulations over the past decades were the main and direct reason for the loss of the dinar of its value that it enjoyed during the seventies and eighties of the last century.
Some statistics indicate that the Iraqi dinar lost by 400,000% of its value between the years 1990- 2007, meaning that the commodity that the citizen bought for 100 dinars in 1990 became buying it for 400 thousand dinars in 2007, and this is a huge huge increase, which cast a shadow on the Iraqi markets and the Iraqi commercial movement, increased the pressure on public money, and ate from the value of the citizens' cash savings, or in other words, greatly weakened the purchasing power of consumers
Accompanied by this Continuing to print the currency and increasing the cash mass in circulation, which until 1980 did not exceed 25 billion dinars, to rise in the 1990s to 40 billion, then the huge jump came in 2003 to reach the cash mass to 6 trillion dinars and exceed 27 trillion dinars in 2010 until we reached the level of more than 100 trillion dinars, and the number is able to increase, and the 25 dinars note was the largest banknote in 1990
But today we have the categories of .25,000 and 50,000 dinars Because of the achievement of a kind of security and economic stability in Iraq supported by a strong financial position due to the large oil revenues that generated huge reserves of hard currency, a group of financial and economic experts believe that it is time to start to scalate the dinar and delete its three zeros, where the process (in their opinion) will achieve a lot of positives that the Iraqi economy needs, the first of which is the return of the dinar as a store of value, restore confidence in the monetary system, reduce the demand for hard currency and get rid of the phenomenon of dollarization that has caused the economy and squandered huge financial wealth.
With the process of of flining the dinar, the issued cash mass can be reduced from 100 trillion to 100 billion and this is a number that can be managed more Efficient and .less expensive Despite the validity and opponence of this opinion in many aspects, there are some issues that must be taken into account before making such a decision.
The process of deleting zeros will not provide a magic solution alone through which the Iraqi monetary system can get rid of inflation and cover behind a young currency without zeros. Experience has shown that many countries have not benefited sufficiently from the process of deleting zeros, as the value of currencies have deteriorated in some cases, and the new currencies have returned to accumulate zeros again, in an undoubted confirmation that the fight against inflation requires other more effective solutions that are applied in parallel with the process of deleting zeros
And from those experiences, the experience of Brazil Which has been deleting zeros seven times since 1930 and with a total of 18 zeros, and this country succeeded only in the attempt in 1993, when the process of deleting zeros was associated with an economic reform process targeting the roots and .causes of inflation
With a quick look, we find that the Iraqi economy still suffers from serious structural and structural problems, including the issue of high rent, the fragility of the non-oil sectors and the deterioration of their domestic product, and the lack of sufficient discipline in monetary and financial policies and the ambiguous relationship between the two policies, not to mention the obsolescence of administrative and banking systems and the penetration of corruption all joints and sectors of the economy, and other negatives, and until the process of deleting zeros is achieved,
it is important to precede the implementation of an effective economic reform program that re-engineers and structures economic sectors, accompanied by a review and evaluation of both monetary and financial policies and adjusting the relationship between them, and developing appropriate plans to manage the transitional smoothly from an old currency burdened with zeros.
To a nascent currency that needs care and good management, so that the country can actually achieve the maximum benefit from the process of .deleting zeros and sinarg In addition, carefully choosing the appropriate timing for the implementation of the process of deleting zeros is one of the most important success factors that must not be absent from the monetary decision-maker.
The wrong timing in implementation may negatively affect the behavior of consumers, confusing the markets (including financial markets), hitting the reputation of the new dinar, returning to the state of dollarization, fleeing capital, providing new ways and paths for money laundering operations, supporting irregular and illegal operations.
This may lead to further rises in prices and inflation rates, and this means complete failure of the dinar flighting process. This process is considered a double-edged weapon that requires a high level of carefulness, planning and good execution, away from speed In the implementation to search for rapid economic or political gains
So I say in conclusion, that Iraq still needs more time, effort and work to study this process in a deep and extensive manner and prepare the necessary conditions and tools that the country needs to reach the stage of the ability to implement the process of faltering the dinar effectively and successfully, and then reap its fruits and benefit from it according to the plans set, then we can say with reassuringly that Iraq has become a strong dinar that maintains its value, comparable to other strong currencies around the world, and may be even stronger .than the 1980 dinar
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Henig: The goal is (return to the value of 1980 dinar), like the issues and topics discussed and interacted by Iraqis, opinions have varied and differed between an enthusiastic supporter of deleting zeros and a hesitant and rejecter, and the .state of disparity continues to this day The process of deleting zeros is related to replacing the old currency with multiple zeros with a new currency free of zeros.
In the case of the Iraqi dinar, for example, the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency, and as is traded among economists in general and cashians in particular, the deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its .volume under circulation
Henig: THAT'S what I'm talkin' about!!!! Outstanding find, Miss Clare!!! Well done!!!
DallasDude: And furthermore the Iraqi Dinar in 1980,
1,980 dinars = $1.51 USD..IMO Good stuff Claire..
"Tidbits From TNT" Sunday 2-25-2024
TNT:
CandyKisses: Faction leaders set a "deadline" for Americans: either withdraw or resume fighting
Today, Sunday (February 25, 2024), a number of leaders of armed factions in Iraq set a deadline for the United States to withdraw its forces from Iraq completely, while choosing between withdrawing or resuming attacks against US forces.
The US National Radio Network (NPR) quoted statements from the leaders translated by "Baghdad Today", where the spokesman for the Sayyid al-Shuhada Brigades, Kazem al-Fartousi, said that "the factions will resume attacks against US forces again if they do not withdraw by the next US elections in November next year."
TNT:
CandyKisses: Faction leaders set a "deadline" for Americans: either withdraw or resume fighting
Today, Sunday (February 25, 2024), a number of leaders of armed factions in Iraq set a deadline for the United States to withdraw its forces from Iraq completely, while choosing between withdrawing or resuming attacks against US forces.
The US National Radio Network (NPR) quoted statements from the leaders translated by "Baghdad Today", where the spokesman for the Sayyid al-Shuhada Brigades, Kazem al-Fartousi, said that "the factions will resume attacks against US forces again if they do not withdraw by the next US elections in November next year."
Unlike the battles fought by Iraq against Iran and Kuwait, which were imposed on it by Saddam Hussein's regime, this battle against US forces was chosen by the Iraqi people, not only to remove the forces' occupation, but also in support of the brothers in occupied Palestine," al-Fartousi said.
In turn, Kataib Hezbollah spokesman Mohammed Mohi, according to the network, said that "the US administration will pay a heavy price for the assassinations carried out against leaders in the Popular Mobilization Forces during the past month, most notably Baqir al-Saadi," stressing that "Kataib Hezbollah will confront the US forces and expel them not only from Iraq but from the entire region."
The network indicated that "the assassination of Baqir al-Saadi and the air strikes carried out by US forces last month against targets inside Iraq prompted the continuous efforts to remove US forces to escalate," wondering about "the reasons that call for the administration of US President Joe Biden to keep US forces in Iraq despite the lack of need."
The network pointed out in its report and interviews with faction leaders, that "Iraq has witnessed great security stability during the past period, the presence of US forces has become directly threatened by the tension between the factions and those forces," calling for "reconsidering their presence during the coming period to preserve the security gains achieved inside Iraq."
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Tishwash: Al-Bayati: America practices a policy of double standards to control Iraqi funds
Former MP Jassem Al-Bayati accused the American side of practicing a policy of double standards through its control of Iraqi funds and oil revenues in its banks and imposing sanctions on Iraqi banks under unjustified pretexts.
Al-Bayati told Al-Maalouma, “America imposes its control over Iraqi funds and imposes sanctions on local banks, while granting licenses to international ones operating in Iraq.”
He added, "International banks operating in Iraq receive billions daily because of American policy," noting, "These banks obtain, control, and control Iraqi funds without any deterrent."
He stated that "America imposes a ban on Iraqi banks and sanctions on Shiite parties."
He described the American measures as "a farce, especially since this money it controls is money from Iraqi oil sold abroad, and not money belonging to it to impose its authority over." link
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CandyKisses: Al-Hakim congratulates Kuwait on the anniversary of their liberation from Saddamist occupation
Baghdad Today - Baghdad
The President of the National State Forces Alliance, Ammar Al-Hakim, congratulated the State of Kuwait on Sunday (February 25, 2024) on the occasion of the anniversary of liberation from the "Saddam occupation".
Al-Hakim said in a statement received by "Baghdad Today", "We congratulate the government and people of Kuwait on the Kuwaiti National Day, which coincides with the anniversary of Kuwait's liberation from the Saddam occupation, which tasted the peoples of the two brothers neighboring countries, Iraq and Kuwait, and the entire region and inflicted heavy losses whose devastating effects will remain visible."
Al-Hakim added, "We all hope that the relations of brotherly and friendly countries will be characterized by brotherhood, love, joint work, mutual interests and respect to serve the higher interest of their peoples," praying to the Almighty to "keep the evils of terrorism, extremism and hatred away from our countries and bring security, stability and prosperity to them."
Every year on 25 February, Kuwait celebrates National Day, the anniversary of its independence from the United Kingdom in 1961, as well as Liberation Day from the "Saddam" invasion in 1991.
In August 1990, Iraq under former President Saddam Hussein invaded Kuwait before liberation the following year with Arab and international assistance, while the two sides resumed diplomatic relations in 2003 after the overthrow of Saddam's regime.
Mot: .... Perfect Timing Believe in a miracle
Member: .... Aaaahhhhhh - the Things ole ""Earl"" Helps Us Learn each Daze!!!
Iraq Economic News and Points to Ponder Sunday AM 2-25-24
Iraq Economic News and Points to Ponder Sunday AM 2-25-24
Tlm724 Administrator Bondlady’s Corner
The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023
Economical 02/25/2024 Baghdad: Hussein Thaghb There is a consensus from the public and private sectors on the necessity of regulating the reality of electronic collection in Iraq after the local market witnessed great interaction using electronic payment and the value of use increased remarkably in 2023 to exceed 9 trillion and 661 billion dinars through financial movements exceeding 15 million transactions.
Participants in the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association with the support of the Prime Minister’s Office and sponsored by the Central Bank of Iraq,
described electronic payment as an important new stage that guarantees the paths of funds and makes them more transparent, but it is not without challenges that can be overcome in cooperation with the Central Bank and specialized companies.
Iraq Economic News and Points to Ponder Sunday AM 2-25-24
Tlm724 Administrator Bondlady’s Corner
The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023
Economical 02/25/2024 Baghdad: Hussein Thaghb There is a consensus from the public and private sectors on the necessity of regulating the reality of electronic collection in Iraq after the local market witnessed great interaction using electronic payment and the value of use increased remarkably in 2023 to exceed 9 trillion and 661 billion dinars through financial movements exceeding 15 million transactions.
Participants in the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association with the support of the Prime Minister’s Office and sponsored by the Central Bank of Iraq,
described electronic payment as an important new stage that guarantees the paths of funds and makes them more transparent, but it is not without challenges that can be overcome in cooperation with the Central Bank and specialized companies.
Governor of the Central Bank of Iraq Dr. Ali Al-Alaq said:
The successes achieved in the field of electronic payment stem from the great support given by Prime Minister Muhammad Shiaa Al-Sudani to this important project.
We also value the efforts of the ministries that interacted with this project and gave it priority, pointing out that the launch of electronic collection comes as a translation of the Central Bank’s objectives in Adopting advanced technologies in electronic payment.
Al-Alaq stressed that electronic collection contributes to strengthening government financial resources and operates in a transparent environment in light of the components provided by the Central Bank.
The project targets ministries and non-governmental institutions at the same time, and the citizen can now pay from anywhere and this is for the optimal use of cash.
Director General of Payments at the Central Bank, Adnan Asaad, indicated that the decisions of the Council of Ministers had a positive impact on activating electronic collection, especially in the second half of 2023, pointing out that the total collection from gas stations exceeded 10 billion dinars, and the number is expanding, as is the number of employee cards.
In localization services as of June 2023, it amounted to 8,653,310, and the total electronic collection through electronic payment gateways in the year 2023 exceeded 108 trillion through financial transactions exceeding one million transactions.
Asaad pointed out that the commissions charged to citizens in electronic payments are “zero” and in the public and private sectors, and this issue requires expanding the citizen’s culture, and here is the responsibility of all concerned institutions.
Executive Director of the Association of Private Banks, Ali Tariq, said:
The workshop brought together most of the state institutions and the private sector with a large and qualitative presence that witnessed identifying all the problems facing the ministries in this important project, and working to solve them through coordination with the companies and institutions concerned.
Tariq stressed that the great cooperation shown by the team of the Central Bank of Iraq and specialized companies with the presence of the Association of Banks achieves smooth work and contains all the problems or challenges facing some institutions, pointing out the presence of financial expertise capable of mastering advanced technology and employing it in the correct manner, and that the training carried out in We have begun to see positive results in this aspect,
and we now have a developed work team in Iraq, where the Association has prepared continuous training programs for several years that enable human resources to use advanced technology.
As for the representative of the International Smart Card Company, Ghazi Al-Kanani, he pointed out that the reality of electronic payment has begun to expand significantly, and the citizen has begun to interact greatly with the electronic services that are provided, and this came after the citizen felt the positives provided by this project, pointing out that electronic payment was established with the aim of providing The best services and mechanisms that facilitated his daily life.
He stated that electronic collection will follow the collected funds to their legal destination without tampering, and will enhance the federal budget with large revenues, pointing out that Iraq is facing a new phase that preserves the funds’ paths and takes their destination to the appropriate place.
As for Traffic Major General Adel Al-Araji, he said:
Electronic collection is a new experience and has faced several challenges due to the ramifications of revenues and the lack of educational campaigns.
He pointed out that there are committees in the General Traffic Directorate that supervise electronic payment operations, noting that collection in the Karbala Traffic Directorate reached 100% and in Basra 60%. He emphasized the work to allocate one day each week for electronic payment, as we have platforms that work exclusively on electronic payment.
As for the representative of the Ministry of Oil, Yasser Ammar, he confirmed that the Ministry had circulated the electronic collection experience from the first quarter of 2023.
There were challenges to completing the work, but we worked to overcome them, pointing out that all 350 government stations operate with electronic payment.
As for the representative of the Minister of the Interior, he confirmed that the Minister of the Interior directed the adoption of electronic payment and that collection and collection be electronic from May 1, 2024, pointing out that
there are challenges that are being addressed in cooperation with the concerned authorities, and that the Ministry believes in developing the performance of electronic payment and what rises to global performance. https://alsabaah.iq/92335-.html
Treasury Penalties And The Bitterness Of The Lesson
Economical 02/25/2024 Yasser Al-Metwally, I completely disagree with those who portray the Treasury’s action against banks as a measure to prevent dealing in the dollar.
Rather, it is an actual punishment.
So why improve the image?
Let us examine the negative effects of the treasury’s decisions on the banking sector. The first effect is harming the banks’ reputation, and everyone knows the effects of reputational risks in disrupting banking work and the reluctance of customers to deposit or withdraw their money simply because of specific fears resulting from the chaos caused by sanctions, rumors, and some lurking speculators.
At a time when strenuous efforts were made by the banks, their associations, and even the Central Bank during the past short period to restore confidence, and banking activity began to recover and provide some banking services to the fullest extent, until the US Treasury’s decisions came against more than a third of private banks, without a doubt, causing reputational risks from new.
But it seems that confidence still remains among some of the customers in the strength, sobriety, steadfastness, and conviction in the face of these decisions that appear to be violations and are hidden for political purposes, and even
the violations highlighted were for previous periods before the instructions issued by the Treasury.
Here, the banks that were subjected to these sanctions must work steadfastly and not let these decisions weaken their role in providing banking services that contribute to enhancing confidence and deepening their bridges with customers in order to continue banking activity.
Perhaps what some banks offer is a source of admiration and unparalleled steadfastness.
I mention, for example, Al-Tafif Islamic Bank, the International Islamic Bank, and other banking activities and products that do not care about sanctions, which is the ideal response to these absurd sanctions in some of them.
The issue of canceling the currency window was decided a while ago, and we have warned in several articles not to rely on the window’s activity as it is temporary and under specific circumstances.
The process of mitigating the impact of Treasury sanctions requires the relevant authorities (the Central Bank, the Ministry of Finance) to find means of support to protect banks and support them in practicing their credit and other banking activities.
Perhaps the Deposit Insurance Company and its activation are one of the most important of these means, despite my observations on the weakness of its media and marketing role, as it
It needs to clearly show its activities.
In parallel, the Central Bank and the Association of Banks must work in all available ways to find means to cancel most of these unfair decisions against some banks due to their commitment to the required international standards.
Banks should benefit from the decision to allow dealing in currencies alternative to the dollar in foreign transfer activities, especially since BRICS is a strong competitor that is inevitably coming, and it is an opportunity that will provide Iraq and help it be accepted into the group in the future.
There is no way to get rid of the burden of the dollar except with the next alternative, and the Treasury, with its measures, is pushing to search for an alternative. https://alsabaah.iq/92336-.html
Mazhar Saleh: Iraq Is Searching For A Globally Advanced Position In Gas Production The first 02/25/2024 Baghdad: Hoda Al-Azzawi Iraq is focusing on seizing an advanced position in the list of the ten largest gas producing and exporting countries in the world, while possessing huge reserves that place it in 12th place in the world, but it produces less than 9 billion during an entire year, in addition to the urgent need to enter the gas sector.
Sustainable energy.
Adviser to the Prime Minister for Economic and Financial Affairs, Mazhar Muhammad Salih, said in an interview with “Al-Sabah”:
“Iraq is one of the countries most likely to engage in the use of renewable energies, especially solar energy, as it is one of the rare countries with increased sunrise hours.” Saleh added,
"Iraq needs to enter the era of renewable energy, in addition to respecting carbon zero agreements for the optimal use of natural gas," noting that"it is necessary to diversify the sources of energy production and use and enter into the clean energy sector and economic development.
Today, we need to produce twice the current energy."". In the face of the increasing need for energy, Saleh pointed out that “the economic reform plan is moving towards diversifying the Iraqi economy.
Economic diversification begins with the oil sector by shifting from absolute rentierism to relative rentierism.
Instead of importing oil derivatives worth more than $5 billion, it can be compensated by switching from importing “To a source of petroleum products, which allows Iraq to maximize the value of national income and create diversity important for sustainable development.” https://alsabaah.iq/92366-.html
Hello, World!
Minister Of Oil: Economic Motives Are Behind The Withdrawal Of Some Companies, And We Will Stop Importing Gasoline This Year
Economy Baghdad – IA Today, Saturday, Oil Minister Hayan Abdul Ghani revealed a plan to increase oil production in the southern fields, while stressing that the withdrawal of some investment companies has economic motives.
Abdul-Ghani said in his speech during the (Sixth Baghdad Dialogue Conference / Regional Communication), which was attended by the Iraqi News Agency (INA):
“The Ministry of Oil has developed an ambitious plan to increase production, but Iraq is a major part of OPEC, and is committed to the organization’s production ceilings, and
Iraq’s share reached Four million and (600,000) barrels per day, and there was a reduction two years ago and production became four million and (400,000) barrels per day.
There are two voluntary reductions, and Iraq implemented them, and production reached (4) million barrels per day,” pointing out that “the goal of that is to maintain stability.” Prices and achieving a balance between supply and demand.
"Most oil fields are managed by international companies, and there are ambitious plans to increase production in the Rumaila field in Basra Governorate, which is the largest field, where production currently reaches one million and 300 thousand barrels per day, and production will reach one million and 800 thousand barrels, in addition to developing the Zubair and Western fields."
Qurna and West Qurna 2,” noting that “development plans and increased production will be consistent with global requirements for crude oil and without flooding the market with surplus oil.”
The Minister of Oil continued, "OPEC has a plan to increase crude oil production to 16 percent in the coming years," explaining that "the organization's production currently amounts to about 100 million barrels, and production will reach 116 million barrels per day, according to the market's need."
He stressed that "Iraq has made plans to use clean energy, especially in the field of gas, and plans have been drawn up to invest in gas, and contracts have been signed in this regard and to stop burning gas," noting that "Iraq has launched two licensing rounds in the field of gas, targeting more than 33 fields in order to increase gas and transform Iraq."
From an importing country to a producing country, Iraq is likely to be a gas exporter.” He stated that "gas investment will be in exploratory patches in Nineveh, Anbar, Diwaniyah and Muthanna because they contain large quantities of gas."
Regarding oil refineries, the Minister of Oil indicated that “the oil products produced by the Karbala refinery are all environmentally friendly,” noting that “the ministry opened a refining unit in the Basra refineries, as well as the opening of the Baiji refinery,” stressing that “the ministry proposed investment refineries in many From the governorates, there are companies that have expressed a desire to invest in these refineries, and the offers will be discussed by the ministry.”
He stressed that "the Ministry of Oil is keen to transform Iraq from an importer to an exporter in the field of petroleum products, especially gas oil and kerosene.
The Ministry was able to stop many petroleum products, and the import of gasoline was reduced from 16 thousand cubic meters per day to 6 or 7 thousand cubic meters and within In the coming months, these quantities will be reduced and imports will be stopped in the second half of this year.”
Abdul-Ghani explained, “Foreign companies are still operating freely in Iraq and are expanding and growing, whether in oil or gas investment.
As for the companies that withdrew, they withdrew of their own volition and for purely economic motives, especially ExxonMobil.
This company was informed not to agree to the withdrawal, but it insisted.” To withdraw due to the creation of investment opportunities in Africa.” He continued,
"These companies aim to achieve profits and are looking for profitable opportunities wherever they are.
As for foreign companies, especially European ones, they have a desire to invest in gas fields in Iraq."
https://www.ina.iq/203752--.html
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points To Ponder on Money
Definition of the upper crust: A bunch of crumbs held together by dough. - Anonymous
Money can't buy happiness, but it will certainly get you a better class of memories. - Ronald Reagan
The man who invented slow-motion movies got his idea while watching a Scotsman reach for a check in a restaurant. - Anonymous
When asked to borrow money: "I'll see what my lawyer says. . . . And if he says yes, I'll get another lawyer." - W. C. Fields
Money won't buy happiness, but it will pay the salaries of a large research staff to study the problem.- Bill Vaughan
By the time a man is rich enough to sleep late, he's too old to enjoy it. - Anonymous
Money can't buy you happiness, but it does bring you a more pleasant form of misery. - Spike Milligan
Another good thing about being poor is that when you are seventy your children will not have you declared legally insane in order to gain control of your estate. - Woody Allen
Money makes the man. - Aristodemus
A fool and his money are soon parted. - George Buchanan
Penny wise, pound foolish. - Henry Burton
Famous Quotes and Authors, Famous Quotations for all Occasions
Goldilocks' Comments and Global Economic News Saturday Evening 2-24-24
Goldilocks' Comments and Global Economic News Saturday Evening 2-24-24
Good Evening Dinar Recaps,
Meet the new HIPAA requirement...
"Requirement 4.2 of PCI DSS mandates that the Primary Account Number (PAN) must be protected with strong cryptography during transmission. This directly aligns with ISO 27001:2022's control A. 8.24, which calls for the use of cryptography to protect information."
Patient confidentiality is a must in the healthcare setting. As you can see, exchange of information on the new Quantum Financial System that includes hospital settings and such are a must.
The new version of PCI DSS (4.0) will be mandatory from March 31, 2024. It will introduce more requirements needed to secure patient information during the transfer of a diagnosis and payments from various medical settings.
Securing autonomy between a patient and doctor is of prime importance in healthcare ethics. I sat on several ethics committees in my work inside the healthcare setting for years, and it is difficult enough to get patients to open up to doctors what's really going on with them.
This is why autonomy and security information in the healthcare setting is the number one ethical priority for those who work in healthcare. It looks like hospitals and other healthcare settings are working to secure their payment system on the QFS. Texas Health Law Isms Vanta
© Goldilocks
~~~~~~~~~~
Goldilocks' Comments and Global Economic News Saturday Evening 2-24-24
Good Evening Dinar Recaps,
Meet the new HIPAA requirement...
"Requirement 4.2 of PCI DSS mandates that the Primary Account Number (PAN) must be protected with strong cryptography during transmission. This directly aligns with ISO 27001:2022's control A. 8.24, which calls for the use of cryptography to protect information."
Patient confidentiality is a must in the healthcare setting. As you can see, exchange of information on the new Quantum Financial System that includes hospital settings and such are a must.
The new version of PCI DSS (4.0) will be mandatory from March 31, 2024. It will introduce more requirements needed to secure patient information during the transfer of a diagnosis and payments from various medical settings.
Securing autonomy between a patient and doctor is of prime importance in healthcare ethics. I sat on several ethics committees in my work inside the healthcare setting for years, and it is difficult enough to get patients to open up to doctors what's really going on with them.
This is why autonomy and security information in the healthcare setting is the number one ethical priority for those who work in healthcare. It looks like hospitals and other healthcare settings are working to secure their payment system on the QFS. Texas Health Law Isms Vanta
© Goldilocks
~~~~~~~~~~
On March the 6th, 2024, the CFTC is having a follow-up meeting with the Global Markets Advisory Committee.
The GMAC is a subcommittee that represents the Digital Market Financial System. This meeting is expected to be a time for them to discuss recommendations on their findings so far and move forward with the Digital Financial System.
The purpose of this meeting is to "enhance the resiliency and efficiency of global markets, including increased liquidity in U.S. Treasury markets and the upcoming transition to T+1 securities settlement."
My understanding is that instant settlements are already being worked on. It is also my understanding from conversations with developers that the move from T+1 settlements to T+0 will not take long.
As they are stating in this next meeting, they're going to discuss liquidity in the US Treasury Markets. More and more millionaires and billionaires are retrieving their funds from the stock market and moving into digital economy assets.
This move encompasses assets tokenized and supported by gold. It provides investment opportunities many of these whales are looking for to move their money.
We are witnessing a ground-floor opportunity for those who decide to participate inside the new digital economy. Traders pray for such opportunities as this we are witnessing.
As we move into legislative regulations for protocols inside the crypto economy, stablecoins to pay for these tokenized assets will be coming into focus. CFTC
© Goldilocks
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Zoniqx partners with Ripple to revolutionize asset tokenization on the XRP Ledger.
Integration leverages XRPL's blockchain infrastructure for enhanced efficiency and accessibility.
The collaboration marks a milestone in setting new standards for digital asset management. CoinGape
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Billionaires Dumping Stocks, Economist Knows Why - Safe Retirement Strategies
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February 20 was a momentous day for the Stellar (XLM) ecosystem, marking a shift from its exclusive role as a payment protocol to a platform capable of hosting Decentralized Applications (DApps).
This pivotal event was the deployment of the first smart contract on the Stellar mainnet hours after the successful implementation of Protocol 20. Times Tabloid
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The Future of Securities Tokenisation and Crypto Regulation | RegulationAsia
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