Chats and Rumors, MarkZ Dinar Recaps 20 Chats and Rumors, MarkZ Dinar Recaps 20

“Coffee With MarkZ” Tuesday Morning Chat 10-22-2024

Tuesday Morning Chat With MarkZ

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning Mark, Mods and Members

Member: It's going to be a Fabulous Week my friends.

Member: Any big news today Mark?

MZ:  I’m not expecting big news this week until Wednesday

Tuesday Morning Chat With MarkZ

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning Mark, Mods and Members

Member: It's going to be a Fabulous Week my friends.

Member: Any big news today Mark?

MZ:  I’m not expecting big news this week until Wednesday

(From Monday Night)

MZ: In Iraq” Parliamentary Finance sets the date for the 2025 budget to reach parliament”  Very early next year.  This is curious to me but think they may be avoiding releasing it until after they have the rate change and exchanges…..so strangely enough this fits in very well to what I am hearing. That they need to get the rate change done soon.  They need to change rates and do everything they need to do before approving that budget.

MZ: “Iraq Trade Bank opens a new branch in Baghdad”   The Iraqi Trade Bank ‘s goal is to expand into other incomes outside of oil revenue…and loans for those businesses. This is part of the deep commitment Iraq has given to diversify its economy so it can justify a higher rate. It’s all in their white papers.

(From Tuesday Morning)

Member: BRICS Summit is starting today…….Hope something big comes from it.

Member: Mark, Can you explain about Wise accounts? Someone suggested moving all your money out of a bank and into a Wise account. I thought our accounts were supposed to be mirrored in the QFS??

MZ: Many people believe our accounts are mirrored in the QFS. But, we do not know for absolute certainty. Have you seen any rock solid, provable proof?  I havn’t. But I believe they are. That being said- A wise account is like having a multi-currency account.

MZ: From Iraq  “ the Central Bank of Iraq agrees to exchange the activity of the Commercial Bank of Iraq”  They are changing to Islamic. What does that mean? 

Member: Islamic law refers to Sharia law, based on the Koran

​​Member: Islamic banks have much lower interest rates on cards and loans.

MZ: Or does this mean they are separating themselves from the US and go their own way using BRICS as a backbone? I am curious what you think?

MZ: “Dollar falls slightly in Baghdad Stock Exchange and exchange” This is showing us stronger stability  which is something Dr. Shabibi wanted before a new value.

MZ: I did get some positive news from a couple of Indian Nation contacts here in the US.  Indian Nations are due historic settlements and fines and penalties. It will be a pretty hefty pay out for the indian Nations. And they are part of the end of tier 3 , so when their funds are moving…we are about to get our announcements. Suddenly we are being told they are expecting that to move in the very near future. I will not give dates on that and chance getting them or me in trouble.

Member: MarkZ does the congress have to vote on nesara in order for it to go through??

Member: Sure hope Zim exchange will be real…..wouldn't it be something if ZIM was the "sleeper"

Member: There are so many rumors, so much disinformation from so called “gurus”. People are losing hope.

Member: Be careful when you follow the masses; sometimes the M is silent.

Member: Come on RV GCR …..Lord, we are ready! Strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out & be beautiful examples of Your unconditional LOVE

Member:  Let no feeling of discouragement prey upon you, and in the end you are sure to succeed.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:    https://www.youtube.com/watch?v=QFBSShqlEPs

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Iraq News Highlights and Points To Ponder Tuesday AM 10-22-24

Parliamentary Finance: 2025 Budget Expected To Reach Parliament Early Next Year

Economy  - 2024-10-21  The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed today, Monday, that the government has begun meetings to restructure the items of the 2025 budget, while he expected it to reach the House of Representatives early next year.

He pointed out that the Finance Committee discussed the public financial management project with a delegation from the Adam Smith International Foundation.

The media office of the head of the committee stated in a statement that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the Adam Smith International Foundation at the headquarters of the Finance Committee, to discuss the public financial management project prepared by the international institution to help reform the tax and customs sectors, public debt management and the Development Fund."

Parliamentary Finance: 2025 Budget Expected To Reach Parliament Early Next Year

Economy  - 2024-10-21  The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed today, Monday, that the government has begun meetings to restructure the items of the 2025 budget, while he expected it to reach the House of Representatives early next year.

He pointed out that the Finance Committee discussed the public financial management project with a delegation from the Adam Smith International Foundation.

The media office of the head of the committee stated in a statement that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the Adam Smith International Foundation at the headquarters of the Finance Committee, to discuss the public financial management project prepared by the international institution to help reform the tax and customs sectors, public debt management and the Development Fund."

He added that "Al-Atwani reviewed before the delegation, in the presence of the economic advisor to the British Embassy, ​​the most important challenges facing the financial system in Iraq, as well as the steps and priorities of the Finance Committee within the framework of finding a correct philosophy and rational management of public money and the economy by diversifying sources of income and not relying excessively on oil to feed the state budget."

Al-Atwani said, according to the statement, that "the parliamentary finance committee, as part of its ongoing efforts and continuous efforts to maximize non-oil revenues, is currently working on amending the law of the General Authority for Monitoring the Allocation of Federal Revenues, so that it can play its role in evaluating, monitoring and collecting these revenues in a sound and regular manner, in addition to including a new task in the law related to evaluating the performance of the budget and expenditures."

He added that "the committee is conducting an in-depth study of the Stock and Commodities Market Law, which it intends to legislate during the coming period, and is holding specialized workshops in order to encourage Islamic banks to enter into banking and financial activity."

He pointed out that "the finance committee is working on a number of proposed laws that aim to regulate financial management, including the proposed law on investment in Islamic bonds, and the proposed law on the Center for Banking Studies."

Regarding the 2025 budget, Al-Atwani estimated that it would reach the House of Representatives early next year, indicating that "the government has begun meetings to restructure the budget items."

He noted that "the oil dispute with the Kurdistan Region is one of the most prominent problems facing the preparation of next year's budget," referring to "the committee's efforts and efforts to resolve the dispute between Baghdad and Erbil, through meetings with representatives of the regional government and the federal government.

The points of contention have been identified and diagnosed by the committee, and the legal and constitutional path to overcome them has been determined; as we hope to reach a final agreement in the next stage, in order to resume the export of the region's oil, in a way that ensures the enhancement of the state's resources." In

 turn, the institution's delegation confirmed its interest and keenness to support the financial system in Iraq, through a long-term strategy, specialized training and consultations to develop Iraqi systems and legislation.   https://kirkuktv.net/AR/Details/22785

Western Report: Iraq's Financial Situation Is Strong And It Is Working According To A Transitional Development Approach

 Politics  Baghdad-Mil    A Western report praised the developments taking place in Iraq, noting that it is in a strong financial position and its government is working according to a transitional approach that links humanitarian work with development.

According to the report, which was published by the "Really Vibe" website and translated by "Mill", "Iraq is largely going through a transitional phase from a humanitarian response to a more development-oriented approach."

He added, "The Iraqi government has developed a national plan on internal displacement and launched a sustainable development programme in cooperation with the United Nations.

The report confirms that "the Iraqi government is now in a much stronger financial position, given its ability to generate capital from its oil reserves, and the country has a transitional document linking humanitarian work and development programmes."  https://miliq.news/political/37518--.html#hathalyoum

Parliamentary Finance Committee Talks About Non-Oil Revenues In The Budget And Directs An Invitation To The Government

 Policy  2024-10-22 | Sumerian News – Politics  The Finance Committee in the House of Representatives called on the government to expedite the preparation of next year's budget according to the specified timetable. While discussing Chairman of the Committee Atwan Al-Atwani with the delegation of the Adam Smith International Foundation group Of the laws related to the development of the financial and banking system.

Member of the Finance Committee, Mustafa Al-Karawi, stated that “the current year’s budget stipulated the necessity of providing Parliament In the financial schedule before the end of the fiscal year, and any delay in that will cause a delay in the start of implementing the budget and its schedules,” noting that “the non-oil revenues targeted in the budget are estimated at 27 trillion dinars, while what has been achieved so far does not exceed 8 trillion dinars only,” he said.

Al-Karawi added that "the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period, and that the Finance Committee called on the government to enhance non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances."

The MP stressed that "the committee is closely following up on how the budget funds are distributed, to ensure that they are used effectively to serve citizens and enhance the national economy."Pointing“It discusses from time to time ways to increase government revenues by developing the tax and customs system,” the MP noted.

“There is a government plan that relies on automating and modernizing the work systems in these institutions, and it is expected that its implementation will be completed by the end of this year, which will contribute to enhancing revenues and ensuring better efficiency in collecting them,” according to the official Al-Sabah newspaper.

In addition, he reviewedChairman of the CommitteeFinance, Atwan Al-Atwani, yesterday, Monday, with a delegation from the Adam Smith International Foundation, projectslawsThe mission includes the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments, noting that these laws will be read in the upcoming sessions.

 Al-Atwani also reviewed before the delegation the most important challenges facing the financial system in Iraq, as well as the steps and priorities of the Finance Committee within the framework of finding a correct philosophy and rational management of public money and the economy through diversifying sources of income and not relying excessively on oil to feed the state budget,

stressing that the Parliamentary Finance Committee, within the framework of its permanent movement and continuous efforts to maximize non-oil revenues, is currently working on amending the law of the General Authority for Monitoring the Allocation of Federal Revenues.  LINK

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-22-24

Good Morning Dinar Recaps,

G20 REPORT ON TOKENIZATION OUTLINES HOW CENTRAL BANKS LIKELY TO ENGAGE



The Bank for International Settlements (BIS) has been pretty supportive of tokenization, promoting the idea of the Unified Ledger where tokenized assets can be settled with tokenized money. 

Today the BIS and Committee on Payments and Market Infrastructures (CPMI) released a report for the G20 which takes an upbeat but sober view on tokenization, highlighting both the opportunities and the risks, as well as the role of central banks.

Good Morning Dinar Recaps,

G20 REPORT ON TOKENIZATION OUTLINES HOW CENTRAL BANKS LIKELY TO ENGAGE

The Bank for International Settlements (BIS) has been pretty supportive of tokenization, promoting the idea of the Unified Ledger where tokenized assets can be settled with tokenized money. 

Today the BIS and Committee on Payments and Market Infrastructures (CPMI) released a report for the G20 which takes an upbeat but sober view on tokenization, highlighting both the opportunities and the risks, as well as the role of central banks.

On the opportunity front, the stand out benefit is seen as the ability for a single platform to support functions that have been traditionally split (such as pre and post trade) as well as multiple types of assets and different parties.

That reduces many frictions and costs, enabling transactions that previously weren’t possible. Plus the support for delivery versus payment (simultaneous exchange of the asset and money) helps with risk reduction.

It also steps through many potential risks beyond the conventional ones. In the early stages, as tokenization matures, there is some legal uncertainty as regulations get clarified.

The paper raised an interesting legal riskIn the United States, if a company goes bankrupt, its assets are frozen. However, that’s not the case regarding repurchase agreements (repos), which usually involve a company providing collateral in exchange for cash. The BIS notes that this advantage “may not extend to tokenised versions of repo transactions.”

Meanwhile, the authors highlight that more complex platforms which support multiple issuers and assets are likely to be more expensive to build. On the other hand, it’s less expensive to develop a single issuer or asset platform, but more likely to create siloed data which defeats the object of tokenization.

The role of central bankers
This potential proliferation of siloed systems and fragmentation highlights the need for central banks. Central banks can step in to coordinate efforts.

Plus, given the propensity for payments and network effects, there’s a risk that a lack of competition between tokens could result in a “winner takes most” situation. That could mean the benefits of tokenization translate to higher profits rather than lower costs for end users. Central banks want end users to benefit from the potential economies of scale that a large platform could enable.

A second consideration is the role of the central bank in providing central bank money for the settlement of tokenized assets. The paper considers various options, including integrating existing payment systems and providing tokenized central bank money (wholesale CBDC) on a central bank platform or third party platforms. While tokenized deposits are moving forward, the BIS is concerned about the potential proliferation of stablecoins for settlement.

Thirdis the potential need to monitor these new platforms. They want to assess which ones fall into similar a classification to traditional Financial Market Infrastructures (FMIs).

Finally, there’s the impact on monetary policy. For example, the use of tokenized deposits or a wholesale CBDC could change the balance between public and private money. If tokenization ends up fragmenting money, then this could affect the implementation of monetary policy.

The road ahead
“Tokenisation has significant potential to improve the safety and efficiency of the financial system,” Agustín Carstens, General Manager of the BIS.

”Central banks along with the private sector must continue to explore novel technologies and develop solutions that are fit for purpose for the future financial system.

However, tokenisation also poses economic, legal and technical challenges that must be addressed if it is to fulfil its potential.  The BIS is committed to exploring aspects of these challenges through its analysis and Innovation Hub projects in the years ahead.”

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JAPAN'S DPP LEADER PLEDGES 20% TAX CAP ON CRYPTO GAINS IN POLICY PITCH FOR UPCOMING ELECTION

▪️The leader of Japan’s Democratic Party for the People has included the reduction of taxes on crypto gains as part of the party’s policy statement.

▪️Japan currently imposes taxes of up to 55% on crypto gains as cryptocurrency is classified as miscellaneous income.

Yuichiro Tamakithe leader of Japan’s Democratic Party for the People (DPP), has proposed a plan to reduce the tax on crypto gains to 20% as part of his policy statement for the upcoming general election.

“If you believe that cryptocurrency should be taxed at a flat 20% rate, instead of being treated as miscellaneous income, please vote for the Democratic Party for the People. We also propose no taxes on cryptocurrency-to-cryptocurrency exchanges,” Tamaki wrote on X on Sunday.

In a policy statement, the party suggests a 20% separate self-assessed tax and proposes exempting taxes on cryptocurrency exchanges, raising the leverage limit from 2x to 10x, and introducing crypto ETFs. Tamaki also wrote in an X post in July that Japan should “aim to become a major cryptocurrency nation through deregulation and tax reform.”

“With the leverage ratio for retail investors limited to 2x, there is little incentive for speculators to enter the market,” Daiki Moriyama, director of Japan- and Singapore-based gaming blockchain builder Oasys, told The Block.

Japan currently imposes taxes of up to 55% on crypto gains, as cryptocurrency is classified as miscellaneous incomeIn December, the government approved a tax regime revision that seeks to exclude corporations from paying tax on unrealized crypto gains if they hold the assets longer-term.

“Cryptocurrency trading volumes in Japan remain extremely low,” Moriyama said. “Consequently, Japanese cryptocurrency exchanges, which rely mainly on trading fees as their primary source of revenue, are struggling to generate profits.”

Tamaki’s ambition to reform crypto taxes may still be far from becoming a reality. DPP currently holds seven seats in the House of Representatives, and Japan is set to hold a general election on Oct. 27 to fill its 465 lower house seats.

A survey conducted by the Asahi Shimbun, a major Japanese newspaper, showed that, in single-seat areas, the DPP may double its pre-election total of four seats. In the proportional representation category, DPP may increase its seats.

@ Newshounds News™

Source:  The Block  

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🌱WOW - FEDERAL RESERVE NOTE REMOVED FROM THE U.S. DEBT CLOCK - GLOBAL SHIFT? GOOD NEWS - WATCH  |  Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts

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Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20

News, Rumors and Opinions Tuesday AM 10-22-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 22 Oct. 2024

Compiled Tues. 22 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 21 Oct. 2024 CBD Gurus Bartel Rumor Only: A Bond Holder said the GCR would be released on Wed. 23 Oct., while another Bond Holder said they would be paid 50% on Tues. 22 Oct, but the GCR wouldn’t really be released for another ten days. An Iraqi Contact said the Dinar would be revalued on Tues. 22 Oct., while another Iraqi Contact said it would be revalued on Wed. 23 Oct. He said only the Dinar and Zim Bonds would revalue, while the other currencies would have to wait for another ten days to two weeks.

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 22 Oct. 2024

Compiled Tues. 22 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 21 Oct. 2024 CBD Gurus Bartel Rumor Only: A Bond Holder said the GCR would be released on Wed. 23 Oct., while another Bond Holder said they would be paid 50% on Tues. 22 Oct, but the GCR wouldn’t really be released for another ten days. An Iraqi Contact said the Dinar would be revalued on Tues. 22 Oct., while another Iraqi Contact said it would be revalued on Wed. 23 Oct. He said only the Dinar and Zim Bonds would revalue, while the other currencies would have to wait for another ten days to two weeks.

Mon. 21 Oct. 2024 Wolverine: “It’s coming this week. That’s all I’m allowed to say.”

Tues. 22 Oct. to Thurs. 24 Oct. BRICS Summit. The event in Kazan hosting 24 leaders, 32 countries will initiate a massive shift in macroeconomics through the arrival of its BRICS Pay system. The event is expected to be the largest foreign policy event ever held in Russia. That should be a massive moment for the global south and its continued efforts toward increased competition with the West. https://watcher.guru/news/who-will-attend-brics-summit-2024-key-leaders-confirmed https://www.dailynewsegypt.com/2024/10/13/brics-summit-in-kazan-to-host-24-leaders-32-countries

On Wed. 23 Oct. the White House will be engulfed with green lights. Green now seemed appropriate for this week with the anticipated BRICS announcement of a Global Currency Reset and activation of NESARA/GESARA for The People. …The 17th Letter (JFK Jr.) on Telegram

Mon. 21 Oct. 2024: BOOOM!! JAPAN TO BEGIN USING XRP FOR ALL PAYMENTS WORLDWIDE – A GLOBAL GAME CHANGER! – amg-news.com – American Media Group

Mon. 21 Oct. 2024: QFS Information Center: Quantum Financial System and the Tier 4B Internet Group! The World of Currency Revaluation, Redemption Centres, and NESARA GESARA Payments! – amg-news.com – American Media Group

~~~~~~~~~~~~

Global Financial Crisis:

Mon. 21 Oct. 2024 Dutch Central Bank prepares for a new monetary system. https://www.thegoldobserver.com/p/dutch-central-bank-admits-it-has

Mon. 21 Oct. 2024 Since the earliest days of America until 1971, the country had used the “gold standard” for money. Under this system, U.S. currency was backed by physical gold, much of which kept in a heavily guarded location in Fort Knox, Kentucky. This was intended to keep the price of money relatively standard and prevent runaway inflation, i.e. one dollar equals _x _grams of gold. …American Patriot on Telegram https://www.govtrack.us/congress/bills/115/hr5404

Red full post here:  https://dinarchronicles.com/2024/10/22/restored-republic-via-a-gcr-update-as-of-october-22-2024/

***********

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:  TV says the recommendations for Ernst and Young about banking reforms will be approved by the council of Ministers to proceed with the banking reforms.  FRANK:  Ernst and Young are playing a very important part in the Monetary Reform process with the CBI and United States Treasury.  Their involvement is very deep.  To see this report from them once again tells me we are running out of time...

Sandy Ingram   Here's why joining the World Trade Organization is so important.  The WTO can open the door to new business opportunities, attract more investments, and create jobs.  It's a major step towards boosting Iraq's economy and connecting with the world.  Iraq's Trade Minister...just announced Iraq is back at the negotiating table working towards becoming a member of the WTO... [I'll] keep you updated on Iraq's WTO progress...

BRICS PAY CARD Is Here: Successfully Tested & Launched! | What's Next?

MoneyTM:  10-22-2024

The BRICS PAY CARD has officially launched and it's set to revolutionize the global financial system!  In this video, we'll break down everything you need to know about this groundbreaking payment solution from BRICS nations.

Learn how it challenges the dominance of traditional currencies, what it means for international trade, and why it’s a game-changer for global finance!

https://www.youtube.com/watch?v=z6J1bNDZShk

BRICS News : TRIPLE Growth in UAE/ Russia Trade as Focus Shifts Towards "Strategic" Partnership

Lena Petrova/ World affairs in context:  10-22-2024

https://www.youtube.com/watch?v=fplDNVo85dI

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MM&C News Reporting-Iraq Dinar Update-Banking Reforms-Completion Development-Digital Infrastructure

MM&C News Reporting-Iraq Dinar Update-Banking Reforms-Completion Development-Digital Infrastructure

MilitiaMan:  10-21-2024

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

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

MM&C News Reporting-Iraq Dinar Update-Banking Reforms-Completion Development-Digital Infrastructure

MilitiaMan:  10-21-2024

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?v=NU6eu_YzilA

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Iraq News Highlights and Points To Ponder Monday Evening 10-21-24

"Serious Repercussions" .. Iraq's Internal Debts Rise At A Rate Of One Trillion Dinars Per Month

Published on: October 21, 2024: Exclusive/Al-Mada  Iraq has recently witnessed a significant increase in its internal debts, recording an increase of one trillion dinars per month, which raises widespread concern among citizens and economic analysts.

This increase comes at a time when the country is suffering from multiple economic challenges, including weak economic growth and increasing unemployment rates.

"Serious Repercussions" .. Iraq's Internal Debts Rise At A Rate Of One Trillion Dinars Per Month

Published on: October 21, 2024: Exclusive/Al-Mada  Iraq has recently witnessed a significant increase in its internal debts, recording an increase of one trillion dinars per month, which raises widespread concern among citizens and economic analysts.

This increase comes at a time when the country is suffering from multiple economic challenges, including weak economic growth and increasing unemployment rates.

As the financial crisis worsens, economists expect the growing public debt to have negative effects on citizens’ standard of living, including a decline in public services and higher prices.

Under these circumstances, there is an urgent need to develop effective strategies to manage debt and ensure financial stability in the country.

The economic expert, Nabil Al-Marsoumi, announced in a post on his personal accounts, followed by (Al-Mada), that "according to the data published on the website of the Central Bank of Iraq, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024. The rate of increase in the debt reached 1 trillion dinars per month, representing a growth rate of up to 14%."

He added, "This growth in the domestic debt reflects the existence of an actual deficit in the 2024 budget, as part of this deficit was covered through domestic borrowing, deducting remittances, and issuing bonds," noting that "the government's three-year budget law in 2024 has provided the possibility of obtaining 5 trillion dinars through remittances deducted from the legal reserve of government banks, in addition to borrowing 3 trillion dinars from these banks."

The government's measures also included issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars.

The economic expert continues, "This increase in domestic debt in light of the economic challenges facing Iraq requires effective strategies to manage public debt and achieve sustainable financial stability."

For his part, economic affairs expert Taha Al-Janabi said in an interview with Al-Mada that “the increase in Iraq’s internal debts by a rate of one trillion dinars per month could have major negative effects on citizens and the economy in general.”

He added, "With the rise in public debt, the government may have to impose new taxes or increase existing taxes to compensate for the deficit, which will reduce the disposable income of citizens."

He explained that "focusing on debt repayment could lead to reduced spending on basic services such as health, education and infrastructure, which negatively affects the quality of life."

Al-Janabi explained that, "to finance the debt, the government may have to print more money, which may lead to higher inflation rates and higher prices, and thus a loss of purchasing power for citizens."

He stressed that "if public debt continues to rise without a clear plan to manage it, this could lead to a loss of confidence in the government and economic systems, which could lead to social unrest."

He explained that "the increasing debt may lead to future generations being burdened with paying off these debts, which will affect their economic future."

The economic expert continued, "Addressing these issues requires effective economic strategies from the government, including improving the management of public funds, increasing spending efficiency, and developing various economic sectors."

https://almadapaper.net/381682/#hathalyoum

Economist Reveals Actual Deficit In 2024 Budget

Money and business   Economy News – Baghdad Economic expert Nabil Al-Marsoumi confirmed that there is an actual deficit in the 2024 budget, part of which was covered through domestic borrowing, deducting remittances, and issuing bonds.

According to the Central Bank data, the total domestic public debt in Iraq increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024, at a rate of one trillion dinars per month and a growth rate of 14%, which means that there is an actual deficit in the 2024 budget.

The government’s three-year budget in 2024 allowed for obtaining 5 trillion dinars through transfers deducted from the legal reserve of government banks and borrowing 3 trillion dinars from government banks, in addition to issuing national bonds worth 5 trillion dinars and deducting treasury transfers at the Central Bank of Iraq worth 20 trillion dinars. https://economy-news.net/content.php?id=48964

Parliament Reveals The Secrets Of 6 Qualitative Strikes Against Currency Counterfeiting Networks In Iraq - Urgent

Economy / Security |Today,  Baghdad Today - Baghdad    The Parliamentary Security and Defense Committee revealed, today, Monday (October 21, 2024), the secrets of 6 qualitative strikes against currency counterfeiting networks in Iraq.

Committee member MP Yasser Iskandar said in an interview with Baghdad Today, "Counterfeiting currencies, whether foreign or local, has serious repercussions on the economy. It drains people's savings and creates a state of mistrust, especially since counterfeiting operations have taken on a dimension of precision and professionalism because the networks involved in them cross borders, meaning that there are international mafias with multiple addresses."

He added, "The Ministry of Interior succeeded, through exceptional efforts, in directing 6 qualitative strikes against currency counterfeiting networks in Iraq during 2024, and contributed to the arrest of many of its leaders and the seizure of large sums of money that were on their way to marketing."

Iskandar pointed out that "counterfeiting crimes are low compared to previous years, in addition to awareness messages, which have begun to bear fruit through checking currencies and reporting counterfeit ones directly by stakeholders, whether banking or companies, reaching the ordinary citizen, and this reflects important awareness."

On Saturday (October 19, 2024), financial and economic expert Alaa Al-Fahd revealed the authorities responsible for protecting the Iraqi currency from counterfeiting and its spread in the markets.

Al-Fahd told Baghdad Today, "The mission of the Central Bank of Iraq is to issue currency and maintain monetary policy and coordination in this field. As for the issue of counterfeit currency, this is the responsibility of the specialized executive government agencies. The bank's goal when it issues its currency is to work on finding ways to protect this currency from counterfeiting, and this matter exists in all countries of the world."

He added that "the issue of gangs and currency counterfeiting mafias is not within the tasks and duties of the Central Bank to confront, even the issue of currency smuggling is not within the Bank's tasks," indicating that "these issues are the responsibility of the specialized executive government agencies, including the security agencies, and for this reason the Central Bank of Iraq always works to coordinate with those government agencies in order to preserve the Iraqi economy and currency."

The expert confirmed that "even the dollar is a counterfeit currency, not only in Iraq but in most countries of the world, and this is not the responsibility of the Central Bank of Iraq, but rather the responsibility of the specialized executive government agencies."   LINK

The Dollar Rises Again In The Iraqi Stock Exchanges

Economy  2024-10-21 | 2,224 views   SumerianNews – Economy  

Baghdad:  Selling price: 154,000   Buying price: 152,000

Erbil:  Selling price: 152,950   Buying price: 152,850

The Council of Ministers announced on February 7, 2022, the approval of amending the exchange rate DollarTo 1320 dinars per dollar.  LINK

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XRP NEWS: WHO IS THE SEC PROTECTING IN THE RIPPLE LAWSUIT?



In a recent interview, James Murphy, known as Metalawman, discussed the ongoing lawsuit involving the SEC and Ripple. He answered an important question: who exactly is the SEC defending in this case?



On The Good Morning Crypto Show, he was questioned whether the SEC is claiming to protect regular retail investors by targeting Ripple or if they are actually looking out for the institutional investors who got in early and profited significantly since 2014.

Good Evening Dinar Recaps,

XRP NEWS: WHO IS THE SEC PROTECTING IN THE RIPPLE LAWSUIT?

In a recent interview, James Murphy, known as Metalawman, discussed the ongoing lawsuit involving the SEC and Ripple. He answered an important question: who exactly is the SEC defending in this case?

On The Good Morning Crypto Show, he was questioned whether the SEC is claiming to protect regular retail investors by targeting Ripple or if they are actually looking out for the institutional investors who got in early and profited significantly since 2014.

The SEC’s True Motives: Protecting Whom?
Murphy pointed out that while the SEC’s mission is to protect investors and promote orderly financial markets, the reality is different. 

The agency isn’t acting on behalf of retail XRP holders or the institutions that bought XRP at a discount. In fact, none of the institutions have ever sued Ripple for alleged securities violations because their investments have been profitable.

The legal expert argued that the SEC’s lawsuit should never have been initiated. He explained that the SEC has limited resources and should focus on cases with clear violations.

In the crypto space, where scams and fraudulent schemes abound, the SEC chose to pursue a case with no real damages or losses involved.

He also compared this situation to the case against Coinbase, a publicly traded company with transparent financial reporting, suggesting that the SEC is not helping anyone with these actions.

Murphy concluded that, without any losses suffered by victims, it would be impossible to return any funds, which raises questions about the validity of the case itself.

The Ripple Effect: Implications for XRP Holders
The legal battle between Ripple and the SEC continues, with both sides preparing for appeals. The SEC plans to challenge the district court’s findings, while Ripple intends to file a cross-appeal regarding the SEC’s claims. Despite ongoing regulatory challenges, XRP’s price has remained stable at around 54 cents.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

STRIPE BUYS STABLECOIN PLATFORM BRIDGE IN RECORD-BREAKING $1.1B DEAL: REPORT

The deal highlights Stripe’s growing focus on crypto, following its recent integration of USDC and partnership with Coinbase’s Base network.

Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion.

.

This purchase marks the largest acquisition in the crypto industry to date.

Record $1.1 Billion Deal
TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.”

Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store, send, and receive such assets.

Zach Abrams previously served as Head of Consumer at Coinbase and founded the peer-to-peer payments company Evenly, which was later acquired by Square. Before co-founding Bridge, Sean Yu held key engineering roles at major companies such as Coinbase, Square, DoorDash, and Airbnb.

Earlier this year, the startup received $58 million in funding from prominent investors, including Sequoia, Haun Ventures, Ribbit, and Index Ventures. According to Forbes, this included a $40 million Series A funding round that valued the company at $200 million. It means that Stripe’s $1.1 billion acquisition is a major bump from Bridge’s previous worth.

Launched in August, the firm said in a statement that its mission is to address the financial challenges posed by local currencies in an interconnected global economy. Bridge aims to overcome these obstacles by leveraging stablecoins, which offer faster, more affordable, and accessible payment solutions.

Stripe’s Growing Crypto Focus
Stripe, a payment processing platform that enables businesses to accept credit, debit, and other online payments, has been aggressively expanding its presence in the cryptocurrency space.

Just six months agothe co-founder John Collison announced that the company would start supporting global stablecoin payments. This materialized when it integrated Circle’s USD Coin (USDC) into its payment interface two weeks ago.

In June, the payment processing firm also partnered with Coinbase. This introduced three new features, including the integration of the exchange’s Base Layer 2 network into its crypto payment products.

Stripe has also integrated USDC on Base into its fiat-to-crypto onramp, allowing faster conversion of fiat funds to crypto for its U.S. customers. Coinbase also agreed to include Stripe as a payment option for customers buying digital assets through its Coinbase Wallet.

In March 2024, the company reported passing $1 trillion in total payment volume for the year, with businesses using the platform accounting for roughly 1% of global GDP.

@ Newshounds News™

Source:  CryptoPotato

~~~~~~~~~

🌱 OKIE EXPLAINS 13303 AND WAS THERE. THIS IS YOUR HISTORY ALSO ON DINAR.   |  Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

🌱 FUNDRAISER FOR OKIE DETAILS BELOW  |  Youtube

We are sending Okie a care package with some good food. If you would like to donate, he appreciated it before and will again. He has only asked for prayers. Thank you for your kindness. Thank You for Your Kindness! Okie Donation Link and info

https://www.seedsofwisdomteam.com/#ok...

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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KTFA, News Dinar Recaps 20 KTFA, News Dinar Recaps 20

Some “Iraq News” Posted by Clare at KTFA 10-21-2024

KTFA:

Clare:  Iraqi Credit Bank achieves a profit of 20.4 billion dinars 

10/20/2024 Baghdad

The Iraqi Credit Bank achieved a net profit of 20.4 billion dinars since the beginning of the year until the third quarter. 

According to the bank's financial statements, revenues amounted to 26.4 billion dinars, achieving a growth of 38%, as they amounted to 19.1 billion dinars during the same period last year. 

The bank's assets increased to 524.8 billion dinars, but deposits decreased to 137.5 billion dinars after they were 150.6 billion dinars. 

KTFA:

Clare:  Iraqi Credit Bank achieves a profit of 20.4 billion dinars 

10/20/2024 Baghdad

The Iraqi Credit Bank achieved a net profit of 20.4 billion dinars since the beginning of the year until the third quarter. 

According to the bank's financial statements, revenues amounted to 26.4 billion dinars, achieving a growth of 38%, as they amounted to 19.1 billion dinars during the same period last year. 

The bank's assets increased to 524.8 billion dinars, but deposits decreased to 137.5 billion dinars after they were 150.6 billion dinars. 

The bank has retained earnings of 38.7 billion dinars, which have been accumulating for many years. LINK

Clare:  Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates

10/21/2024

The head of the State Powers Bloc, MP Faleh Al Sari, stressed the importance of the census and population census in ensuring the fair distribution of wealth.

Al-Sari, accompanied by the Minister of Planning, Mohammed Tamim, visited the Population Census Operations Room to review the preparations for the general population census scheduled for November 20-21.

The workers in the operations room gave a detailed presentation of the work mechanisms and the achievement rates achieved in the numbering and enumeration operations at the level of each governorate, in addition to explaining how to conduct field follow-up for researchers throughout Iraq via geographic information systems, and mechanisms for sending data immediately.

For his part, Representative Faleh Al-Sari expressed his deep appreciation for the efforts made by the Ministry of Planning and the Statistics Authority to conduct the population census electronically and in record time, stressing the importance of this project in ensuring fair distribution of wealth and ensuring fair parliamentary representation for all governorates, in addition to its developmental importance in understanding the Iraqi reality in all its details and drawing up future policies in all fields.    LINK

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

Clare: Al-Sudani: $100 billion is the size of investment opportunities in Iraq

10/21/2024

Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt. 

This came during a meeting held today, Monday, with the Chairman of the Egyptian El-Sewedy Group of Companies, Ahmed El-Sewedy, and a group of Egyptian company managers, in the presence of a number of his advisors, according to a statement issued by his office and received by Shafak News Agency.

During the meeting, Al-Sudani explained that these investment opportunities were received from Arab and foreign companies, which reflects the potential for economic growth in various fields.

They also discussed ways of cooperation in various sectors, including industry, energy and infrastructure, in addition to developing petroleum resources. It was agreed to study the establishment of industrial cities in Baghdad, as Al-Suwaidi Group presented a map of projects that will be studied by the Advisory Board and relevant authorities.   LINK

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

Clare:  Al-Atwani: The government is working on preparing the basics of the 2025 budget to present it to the House of Representatives

10/21/2024

The head of the Parliamentary Finance Committee, Atwan Al Atwani, confirmed that the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting.

A statement from his office, received by {Al Furat News}, stated that: “Al Atwani discussed with a delegation from the Adam Smith International Foundation a set of laws related to the development of the financial and banking system, today, Monday, at the headquarters of the Finance Committee in the Council building, where he reviewed important draft laws including the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments being made, indicating that these laws will be read in the upcoming sessions.

Al-Atwani stressed that "the aim of the amendments is to involve the concerned parties to ensure increased productivity and listen to various opinions to ensure their effective implementation."

The statement added, "The organization of workshops in cooperation with the Law, Economy, and Investment Committees was also discussed to develop laws comprehensively, while hosting specialists to benefit from previous experiences. The mechanism for drafting federal budget texts, analyzing revenues and expenditures, and planning budget items and general programs were also addressed."

Al-Atwani pointed out that "the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting."   LINK

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More News, Rumors and Opinions Monday PM 10-21-2024

TNT:

Tishwash:  EdgeNext and Commercis announce Partnership for Iraq Expansion

Cloud infrastructure and edge computing services company EdgeNext has announced a strategic partnership with Commercis, a UK-based connectivity, cybersecurity, and innovative IT solutions provider.

According to a press release, this collaboration will enable the expansion of EdgeNext's cloud delivery services throughout Iraq, "bringing transformative improvements to the country's digital landscape."

It continues:

TNT:

Tishwash:  EdgeNext and Commercis announce Partnership for Iraq Expansion

Cloud infrastructure and edge computing services company EdgeNext has announced a strategic partnership with Commercis, a UK-based connectivity, cybersecurity, and innovative IT solutions provider.

According to a press release, this collaboration will enable the expansion of EdgeNext's cloud delivery services throughout Iraq, "bringing transformative improvements to the country's digital landscape."

It continues:

"This partnership will integrate Commercis's regional infrastructures with EdgeNext's global network of over 1,700 edge nodes. Together, the companies will deliver high-performance content delivery, cloud security, and low-latency services to enterprises and public sectors across Iraq.

"One of the key elements of this partnership is cloud gaming in Iraq, which will provide exclusive access to globally leading gaming platforms, enhancing the gaming experience for users in the region.

"The cloud gaming will be supported by EdgeNext's gaming platform, with Commercis's extensive regional infrastructure offering scalable rack space and reliable connectivity to key data centers across Iraq, ensuring seamless access to global gaming services.link

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

Tishwash:  Croatian PM: Iraq represents an important opportunity for development and investment in the energy and oil sector

Croatian Prime Minister Andrej Plenkovic confirmed today, Monday, that Iraq represents an important opportunity for development and investment in the energy and oil sector, while stressing the need to develop bilateral cooperation in the military, security and economic fields.

A statement by the Ministry of Foreign Affairs - received by the Iraqi News Agency (INA) - stated that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met with the Prime Minister of the Republic of Croatia Andrej Plenkovic, in the presence of the Croatian Foreign Minister and the Croatian Ambassador to Iraq, where the meeting was devoted to discussing paths of cooperation and partnership between the two countries, in a way that enhances their efforts to achieve sustainable economic development and prosperity."

The statement added that "the two sides discussed ways to enhance cooperation in the economic, investment and energy sectors, with a focus on the oil and gas sector, and stressed the importance of expanding cooperation in vital areas of common interest."

Hussein pointed out - according to the statement - to "the need to enhance cooperation between the two countries in the field of combating terrorism, and reviewed the outcomes of his European tour. The meeting addressed coordination on unifying positions regarding the war in Gaza and Lebanon."
He stressed that "the continuation of the war in Gaza and Lebanon may lead to the outbreak of new conflicts in other regions," stressing that "the only way to prevent this is to increase pressure on the Zionist entity to cease fire."

For his part, the Croatian Prime Minister expressed his "congratulations on the opening of the Iraqi embassy in Croatia," stressing "the importance of its presence in deepening relations between the two countries at various levels." He also stressed "the need to develop bilateral cooperation, especially in the military, security and economic fields," noting that "Iraq represents an important opportunity for development and investment, especially in the energy, oil and gas sector."

The statement concluded with the Foreign Minister expressing his "happiness to visit the friendly Republic of Croatia," stressing "the strength of relations between the two countries and their mutual keenness to strengthen them in a way that serves their development goals and contributes to achieving the interests of their peoples."  link

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

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  You have Al-Sudani calling on the House of Representatives to vote in their president.  The optics of them having 3 presidencies available all at the same time when/if...they revalue their currency is a pretty big deal.  The optics would really look good globally.  You got a strong foundation...security and stability at the borders... knocking on the door of the WTO...the TIR contract they signed days ago...international agreements.  Everything is gearing up for what? Iraq going international.

Frank26   [Iraq boots-on-the-ground report]  FIREFLY: Mr Sammy wants you to know the opening of these cash deposit centers that Sudani is bringing in with the CBI are a start of collecting and a start of the deletion of the zero notes.  It gives us an avenue to trade in the notes instead of clogging up our regular banks.  FRANK:  These currency centers have been licensed by the CBI, Sudani and the US Treasury in the last few weeks.  Things are moving very fast for you citizens to receive your monetary reform.

Matt Riley, Vince Lanci: Will BRICS Move Gold-Backed 'Unit' Forward At This Week's Summit

Arcadia Economics:  10-21-2024

https://www.youtube.com/watch?v=udI4nzgJfKk

LIVE! (IS A DEBT MARKET IMPLOSION IMMINENT?) ITS CERTAINLY SOMETHING WE NEED TO WATCH FOR.

Greg Mannarino:  10-21-2024

https://www.youtube.com/watch?v=9gX_h_glbE8

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Iraq Economic News and Points To Ponder Monday Afternoon 10-21-24

Economic Contradictions: Argentina As An Example

 Economical 10/17/2024   Yasser Al-Metwally   What is the wisdom behind exposure to global economic experiences?

 Here at Al-Sabah Economy, we are accustomed to reviewing global economic experiences and researching the reasons and ways for the success of some of them and the failure of others, with the aim of benefiting from the successful experiences and avoiding the reasons behind the failed ones.

 In this article, the choice fell on the Argentine experience, which is considered unique in terms of failure and failures over the course of 200 years, according to international studies.

Economic Contradictions: Argentina As An Example

 Economical 10/17/2024   Yasser Al-Metwally   What is the wisdom behind exposure to global economic experiences?

 Here at Al-Sabah Economy, we are accustomed to reviewing global economic experiences and researching the reasons and ways for the success of some of them and the failure of others, with the aim of benefiting from the successful experiences and avoiding the reasons behind the failed ones.

 In this article, the choice fell on the Argentine experience, which is considered unique in terms of failure and failures over the course of 200 years, according to international studies.

 Here, it is necessary to trace the reasons that led to this failure with the aim of overcoming them in the experience of the Iraqi economy, which is what such topics aim for.

 Argentina

      is the third largest economy in Latin America and

     enjoys huge wealth, in addition to its

     strategic location on a large coast of the Pacific Ocean,

     fertile arable land, and

     large areas, with a

     small population size compared to its area. Official reports indicate that it has

     defaulted nine times on its foreign debts and

     is almost bankrupt in 2022.

 Economists attribute the reason for its annual decline to economic mismanagement and not to a lack of economic resources.

Argentina exports wheat, soy, meat, and fish, and agriculture constitutes 7% of the gross domestic product, and agricultural manufacturing constitutes 25% of it, and

it depends on the agricultural economy.

 However, the Argentine economy has been subject to fluctuations for years between growth and contraction, which has resulted in a decline in income and opportunities. Work and the monetary value of goods and services.

This fluctuation led to a lack of confidence in the economy.

 This is because it - that is, the economy - suffers from a twin deficit.

The twin deficit is defined as a deficit in the state budget and another in the external balance, and financing this deficit is the reason for the decline of the economy..

How?

The state resorts to external borrowing, and

 this borrowing is accompanied by an increase in government spending and an increase in foreign imports, followed by an increase in inflation over the years.

 Economists attribute the reason for this deficit to the increased and false government spending for electoral purposes, which has made the citizen dependent on the state for everything and has become a continuing habit, and

 this continuous spending has continued to be at the expense of the people’s wealth in the medium and long term.

 To address this permanent deficit, Argentina resorts to printing money or inflation financing, which causes price inflation to rise and Argentine goods to lose their global competitiveness.

 To compare the Argentine economy and the economy of South Korea, the ratio of exports to GDP in Korea is 80%, which is equivalent to two trillion dollars, including one trillion and 600 billion dollars, the volume of its exports, while Argentina’s exports amount to 100 billion dollars.

With the great difference in the wealth that Argentina possesses, its area, and its bodies of water, as you find them only equal in population size between the two countries,

 from here the importance of good management of the South Korean economy and bad management in Argentina appears despite the difference in Argentina’s distance from the bloody events, its stability, the status of South Korea, and the threats of neighboring North Korea..

 Therefore, one of the reasons for overcoming wrong policies is to always look at global experiences.  

 https://alsabaah.iq/104320-.html    

Demands For “Backup Alternatives” For Databases In Banks

Economical 10/21/2024  Baghdad: Shukran Al-Fatlawi   A fire that broke out in an Iraqi bank branch caused all electronic systems and banking applications to stop, which confused the bank’s customers.

This prompted banking experts to stress the importance of having backup alternatives for all databases and data centers in accordance with international standards and instructions issued by the Central Bank and relevant authorities. To protect customers and avoid downtime that could cause customers huge losses.

 The head of the Information and Communications Technology Committee, in the Digital Transformation and Electronic Payment Council, Badr Riad, said in an interview with “Al-Sabah”:

 “It is necessary to provide alternative systems related to the communications and information technology sector that are tested monthly or semi-annually to ensure the continuity of service.”

It is an important and fundamental matter in the banking sector and information technology, and it is one of the “A’s” of banking, as he put it.

While he called for dealing with these technologies with some seriousness,

 he expressed his hope that the mistakes that the bank made would not be repeated and that affected the citizen’s confidence in the banking sector. He stressed the

 need for “the bank to speed up in revealing the truth of what happened to enhance the citizen’s confidence in the banking sector.”

 On a related level, the head of the Osool Foundation for Economic Development and Sustainable Development, Engineer Khaled Al-Jabri, stated to “Al-Sabah” that

 “the complete cessation witnessed by the ATM systems, electronic payment and mobile applications of one of the banks operating in Iraq recently caused direct financial losses to customers, which requires... “The need to compensate them for the damages they have suffered.” Noting that

 "the outage greatly affected daily financial transactions and exposed customers to unexpected financial problems." Al-Jabri stressed

 the importance of “all banking entities’ adherence to the instructions of the Central Bank of Iraq,” stressing

“the necessity of ensuring the efficiency of the financial systems and technology used through periodic examination and proactive review to avoid such interruptions in the future.” Al-Jabri called for

  “the necessity of giving the competent institutions an opportunity to investigate the reasons for the stoppage, and to find out all the technical and technical details that led to this problem,” noting

 “the importance of announcing the results with complete transparency, so that the incident will be a lesson from which other parties working in the financial and technological sector will benefit.” He pointed out that,

  “Despite the passage of days since the incident, there has not yet been an official statement issued by the bank explaining what happened. He said,

 “The delay in issuing a statement raises questions and requires opening a thorough investigation by the supervisory authorities to find out the reasons that led to this interruption, and why.” Customers are exposed to these damages,” pointing out that

 “delay in clarification could cause indirect harm to all those dealing with electronic systems, and reflect negatively on the reputation of the banking sector as a whole.”

 The Iraqi Digital Transformation and Electronic Payment Council had stressed the importance of having backup alternatives for all databases and data centers in accordance with international standards and instructions issued by the Central Bank and relevant authorities, to ensure business continuity in the event that the basic systems are exposed to any damage, as happened with this bank, to avoid a recurrence.

 Such incidents negatively affect consumers and threaten confidence in the banking system and electronic systems.    https://alsabaah.iq/104477-.html    

Guide To The Iraqi Balance Of Payments

October 20, 2024   :diamonds: Guide to the Iraqi Balance of Payments..For more, click here

https://cbi.iq/static/uploads/up/file-172942322386407.pdf

 https://cbi.iq/news/view/2694     

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

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INDONESIAN REGULATORS EXTEND LICENSE APPLICATION DEADLINE FOR CRYPTO EXCHANGES



The Indonesian Commodity Futures Trading Regulatory Agency has extended the deadline for crypto exchanges to meet the necessary requirements to get their Physical Crypto Asset Traders license as part of a revised government bill.


In an Oct. 20 press release, the Indonesian Commodity Futures Trading Regulatory Agency — known locally as Bappebti — announced that the deadline for crypto exchanges to meet the requirements needed for a Physical Crypto Asset Traders license.

Good Afternoon Dinar Recaps,

INDONESIAN REGULATORS EXTEND LICENSE APPLICATION DEADLINE FOR CRYPTO EXCHANGES

The Indonesian Commodity Futures Trading Regulatory Agency has extended the deadline for crypto exchanges to meet the necessary requirements to get their Physical Crypto Asset Traders license as part of a revised government bill.

In an Oct. 20 press release, the Indonesian Commodity Futures Trading Regulatory Agency — known locally as Bappebti — announced that the deadline for crypto exchanges to meet the requirements needed for a Physical Crypto Asset Traders license.

Crypto exchanges have until the last week of Nov. 2024 to fulfill the registration requirements. The regulatory agency clarified that the extension only applies to crypto exchanges that are already listed under Prospective Crypto Asset Physical Traders.

The extension is part of the newly revised government bill, Bappebti Regulation Number 9 of 2024.

The new bill requires crypto exchanges to sign a partnership deal with a local government body and implement Know Your Transaction standards as well as grants trading opportunities for institutional entities.

Oscar DarmawanCEO of major Indonesian crypto exchange INDODAX, expressed his gratitude to Bappebti for giving crypto exchanges more time to adjust to the regulations set by the government.

“This will also help strengthen the crypto industry as a whole by ensuring that every crypto exchange complies with the standards that have been set,” Oscar said in his statement to local media outlets on Oct. 20.

He explained that INDODAX is currently going through the validation process and is awaiting approval from Bappebti in order to get the license. Darmawan also assured that the exchange company will comply to the latest regulations.

Head of the Bureau of Legislation and Enforcement at BappebtiAldison stated that Regulation Number 9 2024 will act as a roadmap to regulating the crypto ecosystem in IndonesiaAmong the changes madeAldison highlighted how it accommodates institutions looking to trade in digital assets. Previously, only individual entities were mentioned in the bill.

“Legal entities and business entities can also become digital asset traders,” added Aldison.

He explained that licensed crypto exchanges are still required to sign a partnership agreement with the Indonesian Directorate General of Population and Civil Registration of the Ministry of Home Affairs, as per the new regulations.

In addition, crypto exchanges are obligated to list on the National Crypto Asset Futures Exchange and become a member of the Crypto Asset Clearing House. If not, they risk having their applications for the license revoked.

In an Oct. 18 press release about the new regulations, Bappebti aims to build a modern, adaptable and transparent crypto ecosystem.

“Bappebti will adjust existing regulations in accordance with the Commodity Futures Trading Law. The crypto industry is very fast and dynamic, so it requires an ecosystem that is strong and able to meet market needs,” said Ir. Kasan, Head of Bappebti.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

GOLD SURGES TO RECORD HIGH AMID SAFE-HAVEN DEMAND

Gold prices surged to a new record high of $2,729.30 per ounce on October 21, bringing their gains for 2024 to over 30%. The commodity’s latest increase is attributed to increased safe-haven demand amid escalating tensions in the Middle East and the closely contested U.S. election.

This sentiment also fueled a rise in silver prices, which reached their highest level since 2012.

Rising geopolitical risks and the anticipation of U.S. interest rate cuts have boosted gold prices, making it a sought-after asset for investors. Vivek Dhar, an analyst at the Commonwealth Bank of Australia, predicts gold futures will rise to an average of $3,000 per ounce by the fourth quarter of 2025.

@ Newshounds News™


Source:  
Bitcoin News 

~~~~~~~~~

GOLD PRICE MEANS NOTHING COMPARED TO SILVER PRICE AT SPOT TODAY!  - The Economic Ninja | Youtube

@ Newshounds News™

~~~~~~~~~

XRP HOLDERS THE FINANCIAL FREEZE IS COMING - BIS BIG PLANS REVEALED - Common Sense Crypto | Youtube

@ Newshounds News™

~~~~~~~~~

🌱 WHY IS GOLD ON THE RISE? WHAT ABOUT OTHER METALS?  |  Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts

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