Seeds of Wisdom RV and Economic Updates Sunday Morning 10-20-24

Good Morning Dinar Recaps,

BRICS SUMMIT TO SEE ALLIANCE TAKE MAJOR STEP TO END US DOLLAR

With the landmark event just days away, the BRICS 2024 Summit is set to see the economic bloc take a major step toward ending US dollar dominance. 

Indeed, the collective will gather in Kazan, Russia for the event that could be one of its most important. Chief among the matters to be discussed by the bloc is its ongoing de-dollarization efforts.

At the recent Business Forum that took place in Moscow, the bloc officially debuted the long-awaited BRICS Pay system. The alliance debuted a demo card for participants to utilize throughout the weekend. Those efforts will likely continue at the summit, with the bloc poised to make monumental announcement

BRICS to Take Major De-Dollarization Step at 2024 Summit
The BRICS Summit has become one of the most important days for the alliance. In 2023, it saw the bloc welcome its first expansion effort since 2023.

Specifically, the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran joined the collective. This year, the bloc is expected to welcome similar landmark announcements.

Among them are key efforts to lessen economic reliance on the West. Indeed, the BRICS Summit 2024 will see the bloc take a major step toward ending US dollar dominance.

According to a new Reuters report, Russia is going to engage participating countries in taking part in building an international payment platform. Specifically, the platform would be “immune” to Western sanctions.

Imposed sanctions after Russia’s invasion of Ukraine have been a constant issue for the alliance.

Their presence has become a catalyst for the bloc’s continued efforts to promote local currencies. At the upcoming summit, those efforts are set to be magnified as they attempt to increase economic prominence on a global scale.

The proposal will be rooted in the connection of commercial banks. It would utilize blockchain, similar to the developing BRICS Pay platform. Altogether, it will likely be the continued expansion of the payment platform that has been in development for much of the last year.

@ Newshounds News™

Source:  Watcher Guru

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CHARLES HOSKINSON PREDICTS CARDANO WILL SURPASS BITCOIN AND ETHEREUM

▪️Hoskinson believes Cardano will surpass Bitcoin and Ethereum in the future.

▪️The network's growth relies on technological innovation and decentralized governance.

▪️Community focus is prioritized over marketing efforts for sustainable development.

Charles Hoskinson, the founder of Cardano  expressed his belief that the Cardano network will eventually grow larger than Bitcoin and Ethereum, providing a timeline for when this might occur. He indicated that the Voltaire era would give Cardano a competitive edge over other layer-1 networks.

Future of Cardano
Hoskinson stated that Cardano would become a larger network than Ethereum in ten years and surpass Bitcoin in twenty years. He also noted that most governments will be working on their own infrastructures in the coming decade.

Cardano being larger than Bitcoin and Ethereum would mean that ADA‘s market value would exceed that of BTC and ETH. Currently, ADA holds the eleventh position in market value, while BTC and ETH occupy the first and second positions, respectively.

Advantages of Decentralized Governance
Hoskinson firmly believes in Cardano’s superior technology compared to other networks, predicting that this advantage will become more evident over time. He emphasized the network’s competitive edge through decentralized governance and promising plans.

He highlighted the importance of decentralized governance, stating they prefer building a genuine community over merely focusing on marketing.

Despite aiming to establish an independent structure free from central intermediaries and global firms, progress toward these goals has been extremely slow, causing community dissatisfaction.

Hoskinson’s comments on the Voltaire era highlighted how Cardano distinguishes itself from other layer-1 networks, criticizing others’ reliance on venture capital funding as contrary to the purpose of blockchain technology.

His statements have sparked various opinions regarding Cardano’s potential for future growth, with experts closely monitoring how its technology and community-focused approach may influence market dynamics.

The goal of Cardano surpassing Bitcoin and Ethereum is built on its technological innovations and decentralized governance strategy, with its success dependent on market conditions and network adoption.

@ Newshounds News™

Source: CoinTurk 

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🌱 WHEN WILL THE RV GCR HAPPEN? HOW WILL I KNOW AND BE FUNDED?  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Sunday Morning 10-20-2024

TNT:

US Ambassador Alina Romanowski said a “vibrant” private sector and reforms in the banking sector could attract investment to Iraq.

 Romanowski's statement, which she posted on her account on the "X" platform, came on the sidelines of a discussion she described as "fruitful" that took place with the ambassadors of the Iraqi Economic Contact Group, the Trade Bank of Iraq, and the Prime Minister's Office , announcing her support for Iraq's efforts towards sustainable and comprehensive economic development.

Romanowski concluded her post with the hashtag #ComprehensiveUS-IraqiPartnership  link

Tishwash:  Ernst & Young presents plan to reform Rafidain Bank to Iraqi Prime Minister

The auditing and financial consulting firm “Ernst & Young” submitted a package of recommendations to Prime Minister Mohammed Shia Al-Sudani, which included the new legal status of Rafidain Bank, its capital, and its work strategy to proceed with the restructuring process in a way that qualifies it to meet the global requirements for modern banking.

This came during a meeting chaired by Al-Sudani to follow up on efforts to develop the work of the government banking sector, in the presence of representatives of the international auditing company and the Governor of the Central Bank, Ali Al-Alaq, in which he stressed that the restructuring of Rafidain Bank is the first step in the government’s banking reforms, which have given special attention to following up on all reports related to it and submitted by the relevant authorities.

Al-Sudani pointed out that the restructuring will work to provide Rafidain Bank with specifications and standards through which problems can be overcome and confidence can be given to citizens, in addition to enhancing cooperation with local and foreign investors .  link

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Tishwash:  Increase in the market value of companies listed on the Iraq Stock Exchange 

The market value of listed companies increased in market Iraq For securities to exceed the 20 trillion dinar barrier for the first time Iraqi Supported by the banking sector, which represents 50% of the total market value of listed companies, and the communications sector, which represents 39% of the total market value, according to the head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar.Al-Obaidi.

He saysAl-Obaidi In a post I followed Sumerian News, the market value of banking sector companies rose from 6.88 trillion dinars Iraqi In 2021 to reach 10 trillion dinars Iraqi In 2024, the market value of telecommunications companies also increased from 7.3 trillion in 2021 to 7.82 trillion dinars.

The market value of the industrial sector declined compared to 2021, and the market value of the agricultural sector also declined over the four years, according to Al-Obaidi It shows  that the hotel and tourism sector witnessed a significant increase with a growth rate of 61% compared to 2021, so that the market value of the sector rose from 390 billion dinars in 2021 to more than 620 billion dinars in 2024.

It is expected to witness market Iraq Securities will see a significant increase in the coming months and years, especially with the improvement in the revenues of listed companies and the development of their businesses, which makes it a market capable of attracting domestic and foreign investments. It is expected that the market value of the market will reach the 50 trillion dinar barrier in the coming years .Iraqi Supported by the rise in share prices of successful companies as well as the listing of many companies, whether in the public or private sector, on the market, according to Al-Obaidi.   link

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Tishwash:  Minister of Finance participates in the activities of the Arab-Turkish Economic Forum in Istanbul

Minister of Finance Taif Sami participated today, Saturday, in the activities of the Arab-Turkish Economic Forum in its fifteenth session currently taking place in Istanbul.

The ministry said in a statement received by the Iraqi News Agency (INA): "Minister of Finance Taif Sami participated in the activities of the Arab-Turkish Economic Forum in its fifteenth session currently taking place in Istanbul, in the presence of an elite group of government officials, businessmen and investors from Arab countries and Turkey, and Arab finance ministers."

The statement added, "This year's forum focused on enhancing economic and investment cooperation between Arab countries and Turkey, highlighting investment opportunities in areas such as energy, infrastructure, manufacturing and technology."

The statement continued, "The Minister of Finance delivered a speech during the session, in which she stressed the importance of the economic partnership between Arab countries and Turkey in supporting economic growth and enhancing financial stability in the region."

Sami said in her speech on the occasion - according to the statement: "This forum represents a real opportunity to exchange experiences and build long-term strategic partnerships between Arab countries and Turkey, especially in light of the current global economic challenges. She also called for enhancing joint investments and increasing the volume of trade exchange between the two sides."

She pointed out the importance of "completing the construction of the global trade corridor and taking advantage of Turkey's strategic location and the Arab region as a bridge linking major global markets in Asia, Europe and Africa, and facilitating trade movement efficiently to expand investment and energy corridors. "

She added that "Iraq is currently working - in cooperation with the World Bank - to establish and rehabilitate railways; for the purpose of establishing the development road project, and its strategic importance in linking Asia with Europe, in addition to its economic and development returns for the two countries and regional countries."

The statement concluded, "The Minister of Finance held a series of bilateral meetings with a number of Turkish officials and their counterparts from Arab countries; to discuss ways to enhance financial and investment cooperation and discuss issues of common interest."  link

Mot: . da Thought fer da Daze!!!! 

Mot:  Sooooo -- Enjoy!!!!!

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 10-19-24

Good Afternoon Dinar Recaps,

GLOBAL DEBT WILL SHATTER $100,000,000,000,000 THIS YEAR AS GOVERNMENTS PREPARE TO INCREASE SPENDING, WARNS IMF

The International Monetary Fund (IMF) is sounding the alarm on skyrocketing levels of debt held by governments around the world.

In its newest Fiscal Monitor Report, the IMF says global debt is expected to surpass $100 trillion by the end of the year.

That’s up from $97 trillion a year ago, with the United States accounting for about half of the $3 trillion increase.

The IMF says government debt is expected to reach about 93% of global gross domestic product by the end of this year and will approach 100% of GDP by 2030.

The report argues countries should confront their debt risks now, while interest rate reversals give lawmakers space to implement fiscal tightening measures.

“With inflation moderating and central banks lowering policy rates, economies are better positioned now to absorb the economic effects of fiscal tightening.

Delaying would be both costly and risky, as the required correction grows as time goes by; and experience shows that high debt and lack of credible fiscal plans can trigger adverse market reaction, constraining room to maneuver in the face of turbulence.”

The report also highlights the difficulty in truly identifying all government obligations, warning debt forecasts are often overly optimistic.

The IMF says its “debt-at-risk” model suggests that in a severely adverse scenario, global public debt could surge to 115% of GDP within three years due to the potential for weaker growth amid tight financial conditions and other factors like unforeseen policy changes.

Despite the risks, the IMF says government spending is actually set to increase.

“Previous IMF research has shown that fiscal discourse across the political spectrum has increasingly tilted toward higher spending.

And countries will need to increasingly spend more to cope with aging and healthcare; with the green transition and climate adaptation; and with defense and energy security, due to growing geopolitical tensions.”

Earlier this year, the UN also called for “urgent reforms” to the international financial system to address the concerns over surging public debt, which it referred to as a “growing burden to global prosperity.”

@ Newshounds News™

Source:  DailyHodl

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KENYA IMPLEMENTS REAL-TIME CRYPTO TRACKING FOR BETTER TAX COMPLIANCE

▪️The KRA’s new system will integrate with crypto platforms to track real-time transactions, aiming to curb tax evasion and fraud.

▪️Kenya plans to use AI and machine learning to enhance tax compliance and recover lost revenue from the growing crypto market.

Tracking crypto transactions in real-time is something the Kenya Revenue Authority (KRA) is doing in big measure. This action is meant to solve the rising tax losses in the nation resulting from ineffective monitoring of the developing crypto market.

Given Kenya’s crypto sector’s projected Ksh 2.4 trillion in transactions between 2021 and 2022—about 20% of the country’s GDP—a more strong tax collection mechanism becomes absolutely vital.

Real-Time Tracking for Crypto Transactions to Enhance Tax Compliance
To gather important transaction data, including the time, date, and value of every operation, the new tax system will interface with crypto markets and exchanges.

Preventing tax avoidance and making sure all income connected to cryptocurrency is taxed in line with Kenya’s Income Tax Act are the main goals of the KRA.

Though organizations like the Capital Markets Authority or the Central Bank of Kenya mostly control them, profits from cryptocurrency transactions are legally taxable.

This legislative change coincides with the growing popularity of cryptocurrency in Kenya, despite not being as common as other financial innovations like mobile money.

Mostly because digital currencies have cheaper fees and simplicity of cross-border money transfers than conventional banking systems, many people utilize them to save money, send remittances, and make overseas purchases.

But because of their distributed character, cryptocurrency have also drawn appeal to people engaged in illicit operations such as money laundering and fraud.

Apart from real-time tracking, the KRA intends to improve tax compliance using artificial intelligence (AI) and machine learning technologies. These technologies will enable the authority to identify fraudulent behavior and maximize resource allocation, thereby perhaps recovering billions of tax-lost income.

The KRA has a larger reform agenda, including this technical makeover to modernize its systems and raise general tax collecting efficiency.

Simultaneously, comparable initiatives are under progress abroad. For instance, as we previously highlighted, Italy has suggested taxing crypto’s capital gains between 26% and 42%.

This action might fundamentally change the scene of European crypto investment since it will force investors to look for better tax conditions outside than Italy.

Aiming to support the expansion of its digital currency industry, Japan’s Financial Services Agency (FSA) is also contemplating a uniform 20% tax on crypto transactions, according to CNF.

@ Newshounds News™

Source:  Crypto News Flash

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Source:  Seeds of Wisdom Team RV Currency Facts

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YOU MISSED THE CONSTITUTION CALL LAST NIGHT?  You can still hear it here!  Click the Youtube link above!

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Source:  Seeds of Wisdom Team RV Currency Facts

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Economist’s “News and Views” Saturday 10-19-2024

Europe Is Plunging and the U.S. Economy Is Next - This Time China Won't Help

Sean Foo:  10-19-2024

The ECB just did another emergency rate cut, front-running the Federal Reserve again. This isn't a sign of confidence, it shows the EU is desperate to save their economy.

However, this isn't solving the structural and geopolitical issues. Manufacturing costs are far too high and even China's stimulus won't save them. Here's what you must know.

Timestamps & Chapters:

 0:00 EU Big Emergency Rate Cut

3:02 Europe's Economy Structural Collapse

5:53 China Stimulus Won't Save The West

8:47 Beijing's Money Only For Local Industries

 11:47 Europe's Only Winning Move

https://www.youtube.com/watch?v=KZmJ1N2fcdU

BRICS Summit 2024: Digital Currencies Blockchain Platform, Focus on Infrastructure, BRICS Bank Role

Lena Petrova:  10-19-2024

https://www.youtube.com/watch?v=rYcf2UBad1c

15 Signs Everyday Americans Are About To Break Financially

Epic Economist:  10-18-2024

In 2024, tens of millions of Americans are going completely broke, and millions more are just barely scraping by, new data shows.

You've probably noticed that the value of our money isn't the same anymore. In fact, the dollar has lost 95% of its purchasing power since the 70s.

But recently, that decline has become even more pronounced. Today, households don't have enough money coming in, but bills are piling up.

That's why debt levels are rising astronomically while people's savings accounts are running dry, which is putting thousands of U.S. banks at increased risk of failure.

When the U.S. consumer isn’t in a healthy financial shape, bad things tend to happen. And now, conditions are eerily similar to what we experienced during the run up to the Great Recession.

 With higher living expenses and tighter access to credit, families and individuals in the U.S. are being hit from all sides.

The following facts we compiled for you in this video are going to be an eye-opener about the current state of the U.S. economy and the challenges we are all facing. Without further ado, Here are 15 Signs That Everyday Americans Are About To Break Financially.

https://www.youtube.com/watch?v=20IXWM4AUDk

MilitiaMan&Crew News Reporting - Iraq Dinar Updates - Exchange Currency

MilitiaMan&Crew News Reporting - Iraq Dinar Updates - Exchange Currency

10-18-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?app=desktop&v=1A2N8HNWECo&si=mMIDhJ42K1xQQPPm

Iraq News Highlights and Points To Ponder Saturday AM 10-19-24

Among Them Are Exchange Rates.. The Most Prominent Advantages Of Increasing Iraq’s Share In The International Monetary Fund

Money and business   Economy News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that increasing Iraq's share of the international monetary fund is a step to confront economic challenges and stabilize the dinar, while he pointed out that it is a tool against exchange rate fluctuations and inflation problems and to enhance investors' confidence in the Iraqi economy.

Saleh told the official agency, which was followed by "Al-Eqtisad News", that "Iraq maintains a reserve of gold within its foreign reserves, and it is part of the official reserves of the Central Bank of Iraq, as monetary gold is a means of supporting the value of the Iraqi dinar and achieving the desired economic stability."

When inflation rises and the value of foreign currencies falls, the price of gold usually rises, so gold is a hedge against inflation or currency devaluation. It is also a type of long-term investment and contributes to diversifying the country’s sovereign investment portfolio, because it is originally stable compared to currency volatility,” he added.

 He continued: "Our country holds about 150 tons of gold, which constitutes a percentage of the country's foreign currency reserves. This reserve is managed in accordance with the guidelines issued by multilateral international financial organizations. It represents a hedging tool and a safe and appropriate haven, as it is an important part of the national currency cover."

 He pointed out that "the monetary authority in our country has sought in recent years to increase its gold reserves, in order to confront economic challenges and ensure the stability of the Iraqi dinar."

He explained that "gold remains a protection tool against fluctuations in exchange rates and inflation problems, and it also contributes to enhancing investors' confidence in the Iraqi economy."

Earlier, the Council of Ministers approved increasing Iraq's share in the International Monetary Fund by the equivalent of (831,900,000) SDR, or the equivalent of (1.45025127) trillion dinars, according to the exchange rate on October 8, 2024, provided that the amount of the increase is included in the allocations for the year 2025, and that the proposed increase will lead to an increase in Iraq's share in the International Monetary Fund by 50% of the previous share, and to an increase in Iraq's voting power.    https://economy-news.net/content.php?id=48887

Holidays In Iraq... 34 Trillion Dinars In Losses!

2024-10-18 Source:   Sumerian    Holiday file... 34 trillion dinars in losses for the country due to official and unofficial holidays

In addition to the official weekends, the days of the year are crowded with additional holidays, of which the fixed ones amount to sixteen days, and the emergency ones exceed twenty days, thus reaching one hundred and forty days annually.  What did the concerned parties reveal to Sumaria?   LINK

Trade: These Are The Reasons For Postponing The (48) Session Of The Baghdad International Fair / Expanded

Friday 18 October 2024 11:53 | Economic Number of readings: 65  Baghdad / NINA / The Ministry of Trade revealed the reasons for the Prime Minister's approval to postpone the (48) session of the Baghdad International Fair to February 2025.

The ministry stated, in a press statement today, Friday, that "the request to postpone the session came as a result of the circumstances the region is going through as a result of the Zionist entity's attacks on the countries of Lebanon and Palestine and their people."

It added, "The sessions of the Baghdad International Fair are of great importance as they are Iraq's economic gateway to attracting countries and companies to display their products and identify the needs of the Iraqi market, and find partnerships with Iraqi sectors to enter into investment projects in various fields."

The ministry explained that "through the Iraqi Exhibitions Company, it will announce the exact date for the 48th session in the event that it is confirmed and all preparations are completed." https://ninanews.com/Website/News/Details?key=1162879

Iraqi Oil Prices Continue To Decline For The Fifth Consecutive Day

Economy |Today,Baghdad Today - Follow-up   Iraqi oil prices fell today, Friday (October 18, 2024), on the fifth day of trading, after exceeding the $77 per barrel barrier at the end of last week's trading.

According to data reviewed by "Baghdad Today", Basra Heavy crude recorded $69.77 per barrel during today's trading, while the average recorded $72.92 per barrel, with a change rate of -0.37, respectively.

The data also showed a rise in global crude prices, as British Brent crude recorded $74.64, while US West Texas Intermediate crude recorded $70.96 per barrel, by 0.30+ and 0.30+. Source: "Baghdad Today" + websites.   LINK

The Government Intends To Proceed With A New Licensing Round For Iraqi Gas.. What Will It Add?

Posted On 2024-10-18 By Sotaliraq   The government is planning two new rounds of licensing in the energy sector, with the aim of stopping gas flaring and achieving self-sufficiency to operate power plants that are experiencing an increasing need for fuel, in light of the challenges of Iranian gas outages, financial payment problems due to US sanctions, and the increasing demand for energy.

Last August, the Council of Ministers approved the contracts for the fifth and sixth supplementary licensing rounds, amounting to 14 projects for final signing and direct activation.

Member of the Parliamentary Oil and Gas Committee, MP Basem Al-Gharibawi, said, “The coming period will witness a fifth licensing round, most of which will be granted to border oil and gas fields, while the sixth round will focus largely on gas fields.”

Al-Gharibawi added, “There are 15 fields, most of which are in the western region, that have not been referred to any party during the previous two rounds, and thus more than one new round may be held in order to refer them for investment, due to Iraq’s urgent need to invest in gas due to the problems of electricity that depends on Iranian gas, which is cut off due to Tehran’s need for it at times, and at other times due to the inability to pay the debts resulting from the US sanctions imposed on it.”

He explains the reasons for the government’s move towards investing in gas, with “the renewed urgent need for it as a result of the scarcity of Iranian gas during peak times, which prompts the Ministry of Oil to use kerosene fuel oil as an alternative, which created a crisis at gas stations for vehicles,” noting that “the Ministry of Oil is ultimately making efforts to market the remaining gas fields to international companies through the Minister’s travels to the United States and European countries, during which he extended invitations to companies.”

The member of the parliamentary committee continues, “The targeted governorates in the upcoming licensing rounds are the governorates of western Iraq that were not included in the rounds by submitting applications for their fields, so they remain without referral, and efforts during the coming period are focused on the necessity of referring them and investing them in the best possible way.”

The fifth and sixth supplementary rounds were launched in Baghdad between May 11-13, in the presence of Prime Minister Mohammed Shia al-Sudani, where 22 companies from all over the world competed for them, including no American company, while Chinese companies and one Iraqi company won their contracts, with different profit percentages after investment expenses that reached 30 percent.

It is noteworthy that Iraq is distinguished by its location among the most important strategic regions in the global oil and gas industry, due to its important strategic geography and huge reserves of natural resources, which provide it with distinct opportunities for investment and development in this vital sector.

For his part, academic and oil specialist, Govind Sherwani, believes that “what remains of the fifth and sixth licensing rounds are 15 investment opportunities, including 10 gas exploration blocks that were presented by the government delegation that recently visited the United States of America to major American companies,”

 indicating that “the new rounds will focus largely on investing in natural gas, which has not received the attention it deserves for two decades, despite being a huge wealth that is equal to oil in its industrial importance and the fields of energy and fertilizers, and Iraq has a large reserve of it, as the reserve is estimated at 143 trillion cubic feet, and a lot of free gas is still not invested, and the associated gas continues to be burned in the oil fields, which is a wealth estimated at millions of dollars that is being wasted.”

Sherwani criticizes the previous rounds’ focus on “oil, and the lack of interest in gas and its huge reserves, which place Iraq in 13th place in the world, so it continues to burn and waste despite all the efforts of the Ministry of Oil to invest 65 percent of it, and the remaining 35 percent is burned at a time when it should be fully exploited to stop imports from Iran or distant Asian countries,” explaining that “the total investment in gas will make Iraq self-sufficient within four to five years, after which the surplus will be exported to Western European markets, which have been cut off from natural gas, causing its prices to rise three or four times as much as a result of the Russian-Ukrainian war.”

He attributes the delay in referring these oil and gas fields so far to “the fact that they are less attractive than their predecessors, due to the lack of full security of the border areas, in addition to the lack of infrastructure in some of them, such as transportation lines and logistics, or the fact that they are not promising large quantities of gas and oil, because each company receives a bag of information about the investment opportunity to study it before submitting its offers.”

He points out that “the ministry adopted, in the two previous rounds, a new formula for contracting with investors, represented by profit sharing, and not through previously approved service contracts, which may achieve greater profits and benefits for companies in the event of a rise in global oil prices.

Therefore, the ministry’s introduction of this system in the licensing rounds came to strengthen the methods of attracting companies, which led to a local company also obtaining two or three investment areas, which means that some local companies have reached advanced levels in investing in oil projects.”

The academic specializing in oil notes that “the ministry has not yet succeeded in resolving the issue of exporting oil from the Kurdistan Region, despite a year and a half having passed since the suspension, in the absence of technical, financial and administrative solutions with the Ministry of Wealth in the region and foreign companies working in production and transportation, which has led to significant damage exceeding $16 billion so far at a time when it can be invested as a useful outlet for oil with the instability of oil shipments through the Red Sea and Suez to importers in Western Europe and North America.”

“The Turkish port of Ceyhan can be the best option for exporting Iraqi oil to these western regions. Its importance lies in increasing export outlets to Iraq to avoid any crises that may occur in other export regions, which means the continuation of exports with stability and complete security at all times,” he added.

It is noteworthy that Iraq took six years to prepare for the licensing round that was held in the middle of this year 2024 after conducting several workshops for companies and reviewing the type of contracts by changing the percentage of ownership and the companies’ share of the profits from investments in these fields.

Oil Minister Hayan Abdul Ghani had anticipated the licensing round by expecting that the investments in the two licensing rounds would increase by up to three billion cubic feet of gas, contributing to putting an end to the chronic energy problem.

For his part, academic and energy researcher Bilal Khalifa explained that “the delay in not exploiting the fields that were not referred in the fifth and sixth rounds is a loss, because the companies that operate these fields in the previous rounds have begun to extract oil without exporting it from them,” indicating that “two of the six fields, namely Anjana-Khashm Ahmar and Kalabat-Kamar, are gas fields, and Iraq is in great need of gas.”

Khalifa explains that “four of the six fields, which are border fields, are considered oil fields, and their exploitation by investment companies must be accompanied by exports from the fields.

Otherwise, Iraq will pay profitable fees despite not exporting oil if OPEC does not raise Iraq’s share, which amounts to about four million and 400 thousand with the region,” noting that “Iraq signed the licensing contracts in 2009 and now 14 years have passed, and it is supposed to have sufficient experience now in managing the fields with the professionalism of foreign companies.”

He notes that “if it is not possible to allocate funds from the federal general budget, it can resort to borrowing as international oil companies do to avoid the great waste of public money, especially since the Ministry of Oil announced about a month ago the establishment of the Oil Services Company, and it would have been better to put among its first tasks the management and operation of those fields.”

He added, “The Emirati Crescent Company, which recently won three contracts, also has contracts in the region, which violate the constitution, while the Federal Court previously ruled that the government should not deal with any company that has dealings or contracts with the region. As for the Chinese company Geojiad, it is small and unknown,” calling for “dispensing with companies from neighboring countries, because it involves caveats, and replacing them with international companies.”

Khalifa advises that “the Ministry of Oil should take the middle path of expediting the exploitation and operation of these border and gas fields for the reasons explained above, but not with foreign companies, but with national effort, while giving the operating authority for these fields broad powers like the powers of foreign companies and freeing it from the restrictions of instructions and controls.”

He points out that “the recent licensing rounds failed to refer the gas fields, just as they failed to refer the border fields, in light of Iraq’s inability to meet the needs of its power stations for generation,” stressing “the need to limit the upcoming rounds to gas only, otherwise they will be useless. Iraq’s offshore fields should also be included with the Gulf because the parties adjacent to them are exploiting them without benefit to Iraq.”

He points out that “the world is moving towards renewable and clean energy, and estimates say that the use of oil will decrease after 2060, and therefore we need to exploit oil before its value decreases, at a time when Iraq needs more revenues, and its economy is rentier and depends on oil revenues.”

Regarding the negatives of the licensing rounds, he believes that “the current government’s statement in announcing the imminent celebration of the signing of the fifth licensing round contracts is for gas, and it would have been better to pay attention to the fields of the third licensing round, especially the Akkas gas field, whose production is greater than the two gas fields combined, to be an alternative to extending a gas pipeline from Baghdad to Anbar, and the loss would be doubled.”

It is noteworthy that the oil sector’s imports represent more than 94 percent of Iraq’s GDP, which is the second largest country in burning natural gas in the world after Russia, with losses estimated by the government at about six billion dollars annually, as the Sudanese Prime Minister is counting, during the launch of the latest licensing, on the country obtaining about 3,460 million standard cubic feet of gas and more than one million barrels of oil per day, in addition to increasing investments in the targeted governorates.  LINK

Seeds of Wisdom RV and Economic Updates Saturday Morning 10-19-24

Good Morning Dinar Recaps,

CARDANO SET FOR PERFORMANCE BOOST: HOSKINSON BACKS PROPOSAL FOR COMPOSABILITY AND MULTI-TOKEN FEES

▪️Cardano aims to evolve with a developer proposal to address user “Intent.”

▪️Chang Hardfork and other upgrades complement Cardano’s evolution.

Charles Hoskinson, founder of the Cardano blockchain, has pledged support for a recent proposal to elevate the network’s performance. The proposal specifically focuses on introducing a tool to allow users to pay transaction fees with various tokens besides ADA.

Developer Puts Forth Key Cardano Proposal
Earlier this week, core developer Andrew Westberg proposed tackling prolonged issues on the blockchain. This proposal could alter Cardano’s approach to managing transactions and smart contracts. Westberg’s proposal revolves around the concept of intent related to Cardano’s eUTxO (Extended Unspent Transaction Output) model.

The developer explained on GitHub that many blockchain users often submit transactions without fully specifying all the details. He cited an example using market orders, where users do not specify the exact price they are willing to pay for an asset. This leaves the price open for another system to determine.

These incomplete or partial actions, often called “intents,” present challenges, especially in Cardano, which is known for its strict rules and deterministic nature. Unlike Ethereum, where smart contracts can change a transaction’s outcome during confirmation, Cardano’s protocol requires all transaction details to be disclosed upfront.

This approach ensures the predictability and security of the blockchain platform. Westberg, however, noted that it restricts flexibility, particularly in circumstances where non-determinism, the capacity to change transaction details in real-time, is desired.

Westberg proposed developing a system that allows users to express their “intent” to bridge this gap. He also proposed having the network match and fulfill these intents efficiently, whether on-chain or off-chain. This would make the process more flexible and user-friendly while maintaining the security that Cardano is known for.

In an X post, Westberg urged the protocol developers to prioritize the proposal as it gives the community composability and BabelFees.

“It allows the eUTxO model to shine and pack the hell out of transactions with tons of useful work,” Westberg added.

It is important to note that the Babel Fees feature enables users to pay transaction fees using various tokens, not just ADA. In response to Westberg’s post, Hoskinson commented, “Andrew is correct. It’s a long overdue enhancement that will massively improve Cardano.”  

His endorsement emphasizes the importance of the proposed enhancements for the protocol’s future development.

The Focus on Ecosystem Upgrades
Meanwhile, Westberg’s proposal follows several ecosystem developments implemented by  Cardano. For instance, Cardano unveiled new releases to the Hydra scaling solution in April.

CNF reported that the new version supports cardano-node v.8.9.0 and integrates the Conway block format. Hydra, Cardano’s layer 2 scaling solution, aims to increase transaction speed by offering high throughput, low latency, and the lowest costs.

Subsequently, the blockchain unveiled the Ouroboros Leios consensus mechanism and the Chang hard fork upgrade. The Ouroboros Leios upgrade, which was recently launched, helped Cardano enhance transaction efficiency and scalability, as noted by CNF. On the other hand, the Chang hard fork upgrade introduced Cardano to decentralization governance.

Overall, these advancements, including Westberg’s proposal, are anticipated to strengthen Cardano’s position as a leading blockchain platform.

@ Newshounds News™

Source:  Crypto News Flash 

~~~~~~~~~

CRYPTO EVENTS TURN TO REGULATION AND POLITICS AS US ELECTION LOOMS

Some executives at crypto and blockchain firms have suggested prioritizing US congressional races over the presidential election.

With less than a month until the people of the United States decide who will represent them in the House of Representatives, Senate, and the Presidency, some crypto events seem to be focused on regulation and politics.

Attending the Permissionless III conference in Salt Lake City, Utah, and Ripple Swell in Miami, Florida, in October, Cointelegraph noted that many panels included takes from high-level executives on their predictions for what would happen in the November race between Democrat Kamala Harris and Republican Donald Trump for the US presidency, and what the outcome could mean for the industry in 2025.

Whether the topics of discussion initially focused on regulation or included stablecoins or Bitcoin participants suggested that digital assets had become more of a mainstream issue in US politics in 2024 in a way never before seen.

“Every single panel is talking about regulations,” Ripple’s head of US public policy, Lauren Belive, told Cointelegraph at Swell on Oct. 16, adding:

“We’ve seen a much broader swath now of policymakers really interested in the nuances of this technology.”

The crypto industry has made several inroads in 2024 compared to the US midterms in 2022 or the 2020 elections. During Trump’s presidency from 2017 to 2021, he referred to Bitcoin as based on “thin air,” also calling the cryptocurrency a “scam” after leaving office. Both major party candidates have since made statements suggesting they intend to support the industry if elected.

“I do think there’s a frustration and a sense that this is technology, and technology shouldn’t be a political issue — it’s become one in the United States,” Fireblocks head of legal and compliance, Jason Allegrante, told Cointelegraph. “I think that’s why people are now being much more vocal about what the potential impact of this election is.”

Crypto wins regardless of the outcome?

While regulation has always been a concern for many in the industry, the number of lawmakers and policymakers willing to discuss digital assets — including at crypto-focused events — seems to be increasing.

Trump gave a keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee. Several presidential candidates and lawmakers also spoke at the North American Blockchain Summit in 2023, which will resume after the US Election on Nov. 5.

“We’re going to be starting [in 2025] with the most educated Congress we’ve ever had because we have so many first-time candidates who are coming in with positions on crypto,” Blockchain Association CEO Kristin Smith said at a Permissionless panel on Oct. 9.

Coinbase chief policy officer Faryar Shirzad added at a different panel on Oct. 11:

“Regardless of what happens in the elections, we will have a very significantly advanced debate around the crypto issues and a very large cohort of members of the House and the Senate […] who will now come in with brand new pro-crypto voices.”

Prediction platform Polymarket, at the time of publication, put Trump at a 60% chance of winning the US Presidency over Vice President Harris.

The Kalshi marketplace, which began allowing bets on US elections after winning in court against the Commodity Futures Trading Commission, put Republicans’ odds of winning control of the House, Senate, and the Presidency at 42% at the time of publication.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

🌱AUDIO WHAT WAS SAID ABOUT NESARA? BANKING TO WHO ARE YOU? GREAT REPLAY IF YOU MISSED THE CALL |  Youtube

YOU MISSED THE CONSTITUTION CALL LAST NIGHT?  You can still hear it here!  Click the Youtube link above!

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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“Tidbits From TNT” Saturday Morning 10-19-2024

TNT:

Tishwash:  Iraq signs gas supply agreement with Turkmenistan

Minister of Electricity, Eng. Ziyad Ali Fadhil, signed an agreement with Turkmen Minister of State for Gas Affairs, Maqsad Babayev, to supply Turkmen gas to power plants in Iraq.

The Minister of Electricity said, according to a statement by his media office: "With the full support of Prime Minister Mohammed Shia al-Sudani, we signed today an important agreement with Turkmenistan to supply 20 million cubic meters of gas per day, which will contribute to the operation of all our gas stations to ensure the national network."

He added: "Turkmen gas will be transported to Iraq via the Iranian pipeline network, according to the swap mechanism in cooperation with the Swiss company (Loxstone Energy)."

He pointed out: "The signing of the agreement was the culmination of intensive technical efforts that extended for more than a year, including multiple meetings and mutual visits, and the signing of a memorandum of understanding last year."  link

Tishwash:  A new law to reform the Iraqi economy.. Will it achieve aspirations? 

The economic system in Iraq faces increasing challenges that require firm legislative measures to reform the current situation and achieve a qualitative shift in the national economy. In this context, a new law is being prepared within the Council of Representatives, which is expected to be voted on in the coming period.

The law, which was referred to the parliamentary economic committee months ago, covers all economic aspects of the country, and several workshops have been organized in cooperation with businessmen, industrial experts and economists to ensure a comprehensive discussion of its provisions and to identify the points that should be focused on in the final amendment of the law.

The committee’s deputy chairman, Yasser Al-Husseini, said: “The law reached the House of Representatives in general and the Economic Committee in particular months ago, and it includes all laws that include the economic aspect.”

He added, “The committee held many workshops at all levels, whether for businessmen or industrial and economic experts,” stressing that “the committee is proceeding with reading this law and working to vote on it during the next phase in cooperation with other specialized committees.”
The figures indicate that the economic sector in Iraq suffers from many challenges, most notably technological obsolescence and dilapidated infrastructure, which makes it urgent to have legislation that encourages various investments and clearly defines the partnership between the public and private sectors.

An important step

 In turn, the expert in economic affairs, Abdul Salam Hassan, said, “This law is an important step on the path to economic reform, but it will not achieve the desired results without including specific provisions that focus on developing the productive sectors, most notably the industrial and agricultural sectors, and reducing dependence on oil revenues as a primary source of national income.”

Hassan added in a statement to “Iraq Observer” that “it is also necessary for the law to include measures that ensure stability in the market and facilitate the investment environment by simplifying the legal and bureaucratic procedures facing investors, in addition to providing real guarantees to protect the rights of investors, whether they are local or foreign.”

Experts also stress the need for the new laws to take into account the establishment of strict control mechanisms to combat financial and administrative corruption, and to ensure a fair distribution of resources between the various sectors and regions of Iraq.

These laws must also include stimulating the private sector to be a strong partner in the development process, by providing tax facilities and granting easy investments, in order to create an encouraging economic environment.  link

************

Tishwash:  After a cautious calm... a sudden state of alert was imposed in "Ain al-Assad" in Anbar

Ain al-Assad Air Base, where US forces are stationed, entered a state of sudden alert today, Friday (October 18, 2024), with intensive helicopter flights in the skies of the base. 

An informed source told Baghdad Today, "This afternoon, Ain al-Assad Air Base in Anbar Governorate witnessed the sudden imposition of strict security measures, with intensive flying of helicopters in the skies of the base," stressing that "these measures included the western, northern and southern parts of the base, where the security towers were observed on alert."

He added, "The reasons for this sudden mobilization are not precisely known, but the announcement of Sinwar's martyrdom may be one of the possible reasons for this mobilization, but the matter remains not precisely confirmed," ruling out that "it is within a training framework."

The source explained that "such measures are usually taken based on directives from senior leadership, whether in Washington or the main headquarters in the Arabian Gulf," noting that "sudden alerts come when something is expected to happen."

On the 10th of this month, an informed source reported that the Ain al-Assad base suddenly abandoned the state of maximum alert without prior warning, indicating that the situation is very normal and that the motives behind these changes are not known, but they may be a plan or based on an order from Washington to remove the danger. link

Mot:  Why is it called beauty sleep when you wake up looking like a troll

Mot:  me too ""Earl"" - Me too!! – siigghhhhh  

Seeds of Wisdom RV and Economic Updates Friday Afternoon 10-18-24

Good Afternoon Dinar Recaps,

XRP LEDGER DDOS ATTACK: MAGNETIC X DEFIES HACKERS, BOOSTS SECURITY

▪️Magnetic X successfully fended off a DDoS attack.

▪️The exchange faced a similar attack in January.

▪️Magnetic X remains committed to providing decentralized trading services on the XRP Ledger.

Magnetic X, a rapidly growing decentralized exchange on the XRP Ledger, recently stopped a major distributed denial of service (DDoS) attack. The attack aimed to overwhelm the platform with traffic and disrupt its services, but the development team acted swiftly to protect the exchange.

The attackers demanded a ransom of several thousand Tether (USDT), but the Magnetic X team refused to comply. Instead of negotiating, they chose to boost the platform’s security to prevent further issues.

Let’s dive into the details of this epic showdown!

Magnetic X Refuses to Pay
The team quickly increased server capacity to handle the surge in traffic, ensuring the platform could manage millions of requests without any loss of user data.

Thanks to this rapid response, services were restored quickly. The exchange reassured users that it is now fully secure and recommended clearing browser cookies to fix any remaining issues.

This wasn’t the first time Magnetic X faced a DDoS attack. In January, a similar incident on the XRP Ledger saw millions of records flooding the nodes, which affected the functioning of the ledger’s historical transaction records.

Standing Strong Despite the Challenges
Despite these setbacks, Magnetic X has remained strong, continuing to provide decentralized trading, automated market maker (AMM) pools, and yield farming. The quick response to the latest attack demonstrates the exchange’s dedication to security and reliable service.

With its upgraded infrastructure, Magnetic X aims to stay at the forefront of decentralized applications (dApps) on the XRP Ledger, setting high standards for security and stability in the decentralized finance space.  Security, stability, and service. That’s Magnetic X.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

SINGAPORE'S BIGGEST BANK DBS INTRODUCES 'TOKEN SERVICES' TO ENABLE BLOCKCHAIN-BASED BANKING

▪️DBS Bank said that its new suite of products will help institutional clients optimize liquidity management and streamline operational workflows.

▪️“DBS Token Services” integrates tokenization and smart contract-enabled capabilities with the bank’s existing banking services.

DBS Bank, the largest bank in Singapore by assets, has rolled out a suite of new services dubbed “DBS Token Services” as the bank continues to develop blockchain-based options for institutional clients. In a statement shared with The Block, DBS said that the new banking products integrated tokenization and smart contract-enabled capabilities with its existing banking services.

The DBS Token Services integrated the bank’s Ethereum Virtual Machine-compatible permissioned blockchain, its core payment engine and multiple industry payment infrastructures, according to the statement. Also, smart contracts enable programmability for institutions to govern the use of funds.

Specifically, the new services include Treasury Tokens, Conditional Payments, and Programmable Rewards.

Lim Soon Chong, group head of global transaction services at DBS Bank, said that DBS Token Services enables companies and public sector entities to “optimize liquidity management, streamline operational workflows, strengthen business resilience, and unlock new opportunities for end-customer or end-user engagement.”

DBS introduced Treasury Tokens in August in partnership with Ant International, allowing multinational corporations to settle multi-currency intra-group transactions around the clock.

DBS also intends to explore further applications of Conditional Payments, designed to improve payment workflows. Another feature, called Programmable Rewards, allows institutions to curate digital voucher programs.

“Using a permissioned blockchain provides DBS full control over these services, enabling the bank to harness the benefits of blockchain technology while adhering to compliance standards,” the bank said.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

CONSTITUTION FRIDAY NIGHTS CALL  |  Youtube

Jim is part of the team that has researched the history of our Constitution over the last decade plus years and is a working member of the  Washington Assembly in Washington, a state of the Union of States that we know as America. 

He will answer any questions you have about how we lost our rights and why our government does not follow the Constitution as our founders laid out for us in our original Constitution of 1776.

If you have not heard of your Strawman accounts, how you lost your rights with your Birth Certificate, and how you are really a British citizen, then you need to join us on these calls and start asking questions. 

He will even let you know how you can correct these atrocities. You can start by listening to previous calls on our youtube channel below under the video topic labeled The Constitution. We have been lied to our whole lives by our government.  So come join us tonight and learn the truth about our real history.

Join us tonight at   5 PM PT  -   7 PM CT  -   8 PM ET   in the Constitution Room on Telegram

You can download the Telegram APP here:  https://telegram.org/

@ Newshounds News™  

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Reset Coming: New One-World System to Revalue Gold to $150k, Is BRICS the Trigger? Andy Schectman

Reset Coming: New One-World System to Revalue Gold to $150k, Is BRICS the Trigger? Andy Schectman

Kitco News:  10-17-2024

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Andy Schectman, President and Owner of Miles Franklin Precious Metals, who says the world is bracing for a reset, with a new system potentially revaluing gold to $150,000 an ounce.

Schectman breaks down what to expect from the upcoming 16th annual BRICS summit being held in Kazan, Russia, on October 22-24. He explains reports around the new common currency known as the ‘Unit’ and elaborates how Project mBridge fits in.

Schectman talks about the future of the U.S. dollar, the accelerating de-dollarization trend, U.S. response, and the inevitability of central bank digital currencies (CBDCs). He also shares his view on gold in this new one-world system that he forecasts.

00:00 Coming Up

02:08 Introduction: BRICS Summit

 04:21 De-dollarization and Gold Accumulation

07:42 Central Bank Gold Repatriation

11:04 Project mBridge and the ‘Unit’

13:46 BRICS Expansion

23:21 Common Currency

41:33 CBDC, Future of Currencies

 53:49 US Response

58:25 Fiscal Irresponsibility

59:12 Decline of the Dollar’s Purchasing Power

 01:02:58 Global Economic Shifts and BRICS

01:10:05 Role of Gold in a New Economic System

 01:13:26 Speculations on Gold Revaluation

 01:18:47 Future of the Dollar

https://www.youtube.com/watch?v=-K6tTaqPXXk

Iraq Economic News and Points To Ponder Friday AM 10-18-24

Its Currency Is “BRICS”... Government Advisor: A Global Monetary And Financial System Is About To Be Born 
 
Economy ​ 10-16-2024, 19:05 |Baghdad Today – Baghdad  The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Wednesday (October 16, 2024), that a monetary and financial system for payments that enjoys international acceptance and credibility is “imminently born.”
 
Saleh said in a press statement, regarding his expectations for the outcomes of the upcoming BRICS summit in Kazan, Russia, that “a monetary and payments system is imminent and enjoys international acceptance and credibility, and  the new monetary situation must impose an official character in the arrangements for Special Drawing Rights (i.e., a currency). International Monetary Fund (IMF), that is, the BRICS currency has a high weight in the weights of world currencies, according to which the International Monetary Fund deals with the stability of the exchange rate and the strength of the new international currency (BRICS currency).”

He added:   “The Kazan summit must come out with an official announcement about the new international reserve currency called the BRICS currency,  which will undoubtedly represent an economic force for approximately
 
     40% of the world’s population, and represents about
     30% of the size of the global gross domestic product, especially since The
     five countries contribute significantly to the global economy, representing approximately
     25% of the global GDP alone.”

 He pointed out that  "China and India are considered two main drivers of this growth, with
their economic power increasing significantly in the past two decades until the present time, and there is no doubt that half of the global trade is controlled by the group." Saleh added: “With this, the
 
BRICS group seeks to
 
     reshape the global economic system in line with its interests, and
     challenge the traditional dominance of Western countries in international economic institutions, especially the
     establishment of its own financial institutions such as the New Development Bank.”
 
Russia holds the rotating presidency of the BRICS bloc this year, under the slogan “Strengthening multilateralism for equitable global development and security.”
 
Since assuming the presidency of the group, Russia has organized more than 200 political, economic and social events, and the main event will be the BRICS summit with the participation of a number of heads of state, which will be held in Kazan from October 22 to 24.
 
The BRICS group is a joint association between several countries that was created in 2006 by Brazil, Russia, India, and China, and later in 2011, South Africa joined it.
 
Since the beginning of 2024, Egypt, Ethiopia, Iran, the UAE and Saudi Arabia have joined BRICS.   
 
https://baghdadtoday.news/260116-عملته-بريكس.-مستشار-حكومي-نظام-نقدي-ومالي-عالمي-على-وشك-الولادة.html   

Central Bank Of Iraq’s External Remittances Surge
 
 Iraq October 17, 2024  The Central Bank of Iraq. Photo: INA  Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) plays a crucial role in managing remittances and foreign currency transactions within the country.
 
The remittance environment has seen notable advances and changes in recent times, which may be attributed to governmental actions and wider economic factors.
 
Through its currency auction, the CBI claimed a 91 percent rise in overseas remittances in March 2024.
 
The bank sold almost $213.4 million at this peak in a single auction, with the majority of the proceeds going for documentary credits and remittances.
 
For documentary credits, the exchange rate was established at 1305 Iraqi dinars per US dollar, while for cash transactions, it was 1310 Iraqi dinars per US dollar.
 
The efficacy of the CBI’s monetary policies in stabilizing the Iraqi dinar and promoting foreign exchange flows is demonstrated by this growth.
 
Additionally, the CBI has taken action to stop money laundering through the remittance network.
 
The implementation of an electronic foreign remittance platform has been crucial in identifying genuine beneficiaries of transactions, thus reducing avenues for criminal operations, as stated by the CBI Governor, Ali Al-Alaq.
 
This platform is part of a larger plan to improve international standards compliance and financial transparency.
 
Some Iraqi banks have lowered their external remittance charges to 0.5 percent in order to improve the remittance process.
 
This is in accordance with CBI regulations that seek to increase the accessibility of foreign currency services.
 
It is anticipated that this decrease would motivate more people and companies to use official channels for their remittance requirements.
 
The CBI’s recent remittance measures are part of a larger attempt to expand access to financial services for all individuals, increase regulatory compliance, and stabilize the economy.   
 
https://www.iraqinews.com/iraq/central-bank-of-iraqs-external-remittances-surge/   

Al-Sudani Stresses The Importance Of Banking Reform By Enhancing Citizen Confidence And Cooperation With Investors
 
 2024-10-17 | 203 views  Alsumaria News – Economy   Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.
 
said Office The Prime Minister's in a statement received by Al-Sumaria News,
 
"Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting." The office added,
 
 “During the meeting, a package of recommendations was presented by the company to proceed with the reform of the Rafidain Bank, which included the new legal status of the Rafidain Bank, its capital, its business strategy, and the new consultant who will work with the bank to meet the global requirements of modern banking, as
 
these recommendations will be presented to Council the Ministerial.”
 
The economy will then submit it to the Council of Ministers for approval.” According to the statement, Al-Sudani explained that
 
 “the issue of structuring Rafidain Bank is the first of the government’s banking reforms, which was given special attention to follow up on all its reports, submitted by the concerned authorities, especially from the committee concerned with the structuring process.” The Prime Minister stressed
 
"the importance of the banking sector reform project, which began with Rafidain Bank," noting
 
"work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."   
 
https://www.alsumaria.tv/news/economy/503508/السوداني-يؤكد-أهمية-الإصلاح-المصرفي-بتعزيز-ثقة-المواطن-والتعاون-مع-الم   

A Specialized Course In The Work Of Exchange And Brokerage Companies (A, B, C)

 October 17, 2024    Reference to the circulars of the Directorate of Supervision of Non-Banking Financial Institutions in Nos. 3/3/33 and 15/3/33 dated 1/21 and 3/13/2024 to oblige all licensed exchange companies under categories (A, B) and brokerage companies under category (C) Buying and selling foreign currencies, all approved by obtaining a specialized certificate in the work of their companies ... for more uncles and a list of names of candidates       Please notify your candidates whose names are listed above       https://cbi.iq/news/view/2693   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/