Wednesday, February 14, 2024
Parliamentary Economy: Banned banks constitute 50% of private banks in Iraq, 15 FEB
Parliamentary Economy: Banned banks constitute 50% of private banks in Iraq
Shafaq News/ The Parliamentary Economy, Industry and Trade Committee and the Iraqi Banks Association said on Wednesday that banks banned by the US Treasury constitute 50% of private banks in Iraq.
This came during the hosting of the committee headed by Representative Ahmed Salim Al-Kanani and in the presence of its members, the Iraqi Banks Association, and directors of private banks, according to a statement issued by the committee.
shafaq.com
"RV UPDATE" BY FRANK26, 15 FEB
Frank26
They're going to reinstate it to $3.22 but that was 20 years ago. You think that's fair?
No. Especially for the citizens of Iraq. Why do you think they've kept it at 1310. You wanted 1,200 or 1,000 right? ... If I was the CBI I would have locked that 1310 in place because I would much rather come out at $1.30 or something in that range than just $1.00, it's been 20 years.
New notes, not the 3 zero notes, the new notes - 1, 5, 10, 20, 50 and 100, IMO soon the banks of Iraq will have what I call specimens sheets. The thing about these specimen or sample sheets, whatever you want to call them, are high quality samples. Once the banks explain it to their employees then it's time to show the Iraqi citizens. Not the high quality samples that belong to the banks, but pictures of the...notes and coins. IMO Iraq Channel One will soon be showing the citizens of Iraq the new lower notes...
An economist warns of the US Treasury’s policy with Iraq, 15 FEB
An economist warns of the US Treasury’s policy with Iraq
Information/Baghdad…
Today, Wednesday, the economic expert, Nabil Jabbar Al-Ali, warned of the policy of the US Treasury Department and the measures it took against Iraqi private banks.
Al-Ali told Al-Maalouma, “Depriving Iraqi private banks from dealing in dollars will affect the commercial movement represented by import and export through a decrease in foreign transfers granted by the Central Bank.”
He added, “Any sanctions from the US Treasury on Iraqi private banks will affect the exchange rate of the dollar against the dinar.”
Al-Ali pointed to “continuous American controls and pressure on private private banks inside Iraq.”
At the beginning of this month, the Central Bank announced a new list of banks that will be prohibited from dealing in dollars, as the list included the names of eight banks that were not previously on the list.
While the Economy, Industry and Trade Committee intends to hold a meeting with representatives of the Iraqi Private Banks Association and the banks that were included in the US sanctions list.
almaalomah.me
"RV UPDATE" BY MARKZ, 15 FEB
MarkZ
[via PDK]
Once again I am going to report we are being leaned on to not talk about redemption stuff...Especially from banks who we expect to handle transactions and redemptions...They said they really need everyone to stay quiet right now. There is a whole lot I would like to say but right now it would be ill-advised. Just know that I am very happy and content about timing…and yes I think it is soon.
We got another bank story overnight from a wealth manager who is reaching out to clients saying “It is time- get everything prepared” He means to get currency together and make certain they have ID’s updated if needed. He says they are at “Any moment now”."NO MORE UPDATES" BY WOLVERINE VIA BEARDED PATRIOTUSA, 15 FEB
Bearded PatriotUSA
Telegram post
2/13/24
Forwarded from Wolverine:
From a member
Tressy is saying Shelton has told her no more updates as it is jeopardizes the whole event ….
I know it will be soon .. please keep yourself safe !!
"IMPORTANT IRAQ NEWS: AN AMERICAN OFFICIAL SETS A CONDITION FOR STOPPING STRIKES IN IRAQ" BY MNT GOAT, 14 FEB
AN AMERICAN OFFICIAL SETS A CONDITION FOR STOPPING STRIKES IN IRAQ
Today, Friday (February 9, 2024), an American official set a condition for stopping American air strikes in Iraq.
Al Jazeera quoted an American military official as saying, followed by Baghdad Today, “We made it clear to the Iraqi government that we will not launch strikes if the attacks on our forces stop.”
He added, “We strongly urge the Iraqi government to take action against (the armed factions).”
It is noteworthy that the strike carried out by the United States in Iraq in the middle of this week, which resulted in the assassination of Abu Baqir al-Saadi, a prominent leader in the Hezbollah Brigades , created more tension in relations between Washington and Baghdad, according to a report by the Wall Street Journal.
On Wednesday, US Central Command said that Al-Saadi “was responsible for direct planning and participation in attacks on American forces in the region,” it said.
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasoul, said in a statement yesterday that the American strikes “threaten civil peace and violate Iraqi sovereignty.”
He added, “This path pushes the Iraqi government more than ever before to end the mission of this coalition, which has become a factor of instability for Iraq and threatens to drag Iraq into the circle of regional conflict.”
The United States deploys about 2,500 soldiers in Iraq and 900 in neighboring Syria as part of the international coalition established in 2014 to combat ISIS.
Yesterday, Baghdad announced the resumption of talks with the United States, next Sunday, with the aim of discussing the future of the international coalition in the country.
These talks, which aim, according to Baghdad, to “end the coalition’s mission” in Iraq, were suspended in late January after the attack that killed three American soldiers in Jordan.
"IMPORTANT IRAQ NEWS: US STATE DEPARTMENT: THE STRIKES AGAINST THE MILITIAS IN IRAQ WILL NOT BE THE LAST" BY MNT GOAT, 14 FEB
US STATE DEPARTMENT: THE STRIKES AGAINST THE MILITIAS IN IRAQ WILL NOT BE THE LAST
The US State Department confirmed on Thursday that the strikes launched by the United States against pro-Iranian militias in Iraq will not be the last in a series of reactions to the attack that killed three American soldiers in Jordan.
Regional spokesman for the US State Department, Samuel Warburg, said in an interview with a program in Iraqi on “Al-Hurra Iraq” that will be broadcast at a later time, that the United States will hold accountable the party carrying out the attack on US forces in Jordan.
Warburg added, “The strikes represent a clear message to the militias and Iran that it is time to stop these attacks,” noting that the United States does not want to see any escalation in the region.
Warburg stressed that “the United States will take all necessary measures to protect itself and American forces anywhere, whether in Iraq, Syria, or anywhere else.”
The American official said that the strikes of the past few days will not be the last regarding American reactions. “We have other tools that we can use, including military reactions or imposing sanctions.”
Warburg pointed out that “the Iraqi government has the responsibility to protect all the international coalition soldiers present on its territory because they are there at its invitation, and it has the responsibility to coordinate with us in order to protect them.”
The prominent leader of the Hezbollah Brigades militia in Iraq, Abu Baqir al-Saadi, was killed in a strike carried out by an American drone that targeted his car in a vital neighborhood in Baghdad on Wednesday evening.
The strike came a week after American raids in Iraq and Syria, and after Washington vowed to target armed factions linked to Iran after an attack on January 28 in which three American soldiers were killed in Jordan on the border with Syria.
In a statement on Thursday, the Iraqi government condemned “a clear-cut assassination by directing an air strike in the middle of a residential neighborhood in the capital, Baghdad, in a manner that does not care about the lives of civilians and international laws.”
Iraqi Prime Minister Muhammad Shia al-Sudani launched talks with Washington regarding the future of the coalition, with the aim of setting a timetable that would allow a gradual withdrawal from the country.
Since mid-October, American forces and the international coalition in Iraq and Syria have been subjected to more than 165 attacks, a direct reflection of the ongoing war in the Gaza Strip between Israel and Hamas.
Most of these attacks were claimed by the “Islamic Resistance in Iraq”, which includes militants in pro-Iranian factions, most notably the Hezbollah Brigades.
The factions say that their attacks come in solidarity with Gaza and against American support for Israel in its war with Hamas.
Officials in Washington said that the attack that took place in Jordan against American forces bore the “imprint of the Hezbollah Brigades,” which is classified as a terrorist organization by the United States.
The United States deploys about 2,500 soldiers in Iraq and 900 in neighboring Syria as part of the international coalition established in 2014 to combat ISIS.
Several countries participate in this coalition, which supported the Iraqi forces in their fight against the Islamic State. These forces are still present in Iraq with the aim of providing advice and support to the Iraqi forces and preventing the re-emergence of the organization.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/JUDY NOTE, 14 FEB
Recent History of the Global Currency Reset:
- On Thurs. 25 Jan. the gold-backed US Dollar was introduced from the US Treasury in Reno.
- On Fri. 26 Jan. all 86 Global Currency Reset platforms were loaded and launched.
- By Sun. 28 Jan. the new Iraqi Dinar Rate (which had been released in-country on Mon. 1 Jan.) and the new US Note were both trading on the Forex.
- Fri. 2 Feb. The Iraqi Stock Exchange (ISX) completed their linkup of international platforms and were done and live: https://dinarevaluation.blogspot.com/2024/02/rv-update-by-walkingstick-2-feb.html
- The Chinese Elders released Dubai 1 Funds into Paymaster Accounts for Tier 1 (different countries governments) that were now liquid and being paid out. Dubai 2 funds for Tiers 2,3,4a (Groups) were released on Sun. 4 Feb. and were liquid on Fri. 9 Feb. Dubai 3 funds for Tier 4b (Us, the Internet Group) were released on Wed. 7 Feb.and would liquid by Sat. 10 Feb.
- Sun. 4 Feb. the Admiral’s Group was paid.
- Sat. 10 Feb. BRICS countries were informed of their new currency rates and Tier4b funds were liquid in Paymaster Accounts.
- Mon. 12 Feb. liquidity began.
"Did the re-education program complete?" BY MNT GOAT, 14 FEB
Did the re-education program complete?
I am really getting tired and annoyed of almost all of these intel gurus out there telling you the “education of this process is all completed”. Do they even know what we are talking about when we say we still need to educate the citizens? Why do they tell you this? They tell you this because I already benchmarked it as a milestone a long time ago, they read my newsletters and so if they are going to lie to you about an everyday / any day RV, then they know they must first pass this milestone. So, they just lie and tell you it’s done when they have no proof it being done.
What does our economic expert Nasser Al-Kanani tell us in today’s article? He tells us in fact the education is NOT yet completed just as I have been telling you all along. I will quote him and others – “Economic experts believed that education for electronic payment in Iraq is not yet at the required level.
Then it goes on to say and I quote again from an interview with Ultra Iraq, Daadoush said, “The electronic payment application requires a culture, publishing extensive and simplistic advertisements for the citizen, and taking into account the experiences of countries in which electronic payment systems have succeeded and gradually transformed into a cashless society, such as Sweden, for example.”
So, who are you going to believe, some intel guru idiot you don’t really even know off the internet or a long-standing economic expert from Iran and Iraq, living and breathing in the middle east π? Yes, boots on the ground!
I want to now review with you again the process of how this is all going to work once the CBI does move ahead again. This relates directly to today’s main article.
I can tell you there is only going to be one more final adjustment to the IQD rate inside the country of Iraq from the 1320 close to 1000 or less (1 dinar = 1 USD) (must be just over $1). At this time, the CBI will kick off the Project to Delete the Zeros. Did this happen yet? NO! It has not but we can see that the official rate is fluctuating from the 1320 as high as 1310 and 1300 somedays. This is all good news. Can they get to the 1166 even that DR Shabibi held steady for years.
As I told you before in prior Newsletters this rate will be temporary rate just until the new reinstated rate shows up on FOREX. They want to collect as many of these 3 zero notes during this period of time to reduce the monetary mass and I quote from today’s article – “the Iraqi government, through attempts to implement electronic payment, aims to withdraw the monetary mass circulating in Iraq, which amounts to 84 trillion dinars.” Think, think and think some more about what was just quoted from the article. Of course, they would have to withdrawal notes from circulation as with the newer lower denominations will have a higher assigned rate, they would not need massive amounts of currency just to go grocery shopping. Get it?
Even better the article tells us that and I quote again from the article – “the best way for electronic payment to be successful is for the Central Bank to carry out the process of s deleting 3 zero from the currency, printing new currencies, and announcing a period of one month for citizens to exchange all their money with a new edition. WOW! Do you know how nice these words sound?….lol..lol..lol.. π π π. The new editions they are talking about are the newer lower denominations. They even tell us the preferred time period given to turn-in (exchange) their three zero notes for the newer lower denominations.
We are now looking for this rate change as the CBIs’ next move. Yes, this will be their next move. NO! There is not going to be any Reinstatement until this part of the plan is completed, get it? So, all you TNT, MarkZ, Big idiot call Bruce and Frank26 sheepie followers I am sorry to bust your bubble. No RV last weekend and No RV this week or weekend coming or until these steps are followed.
The good news is that this final rate change must be getting close at hand as my CBI contact informed us last week, as you already may know, that someone on the committee team was tasked to supply the IT people with a good set of pictures of the lower denominations along with the coins and a written explanation of how the conversion would work from the three zero notes. This all fits into what we are now hearing in our news of today only let’s not go off half-cocked and over speculate on the news,,,okay, like some idiots I know… ☹ . However, keep that champagne ready!
So, when this “temporary” new IQD rate does come out in Iraq, in the meantime it gives Iraq time to monitor for inflation and watch for corruption scandals. They plan to do this for a period of time. It could be 3 days, 3 weeks or even 3 months, etc.. We don’t know and they don’t know. Personally, I believe it will be much sooner than later unless they have a major issue in the process. Remember too in today’s news they tell us it is recommended to take a month to collect the three zero notes. Coud this be their time period? But they have not even started the process yet and so how can we possibly have an RV this week or this weekend or even for weeks to come? Are you listening to me? I am attempting to show you how foolish all these idiot intel gurus are. They have no proof of an imminent RV. Most just regurgitate what they hear and have no brains to research or how to research for themselves.
Then when it does finally come out on the global exchanges, like FOREX, the rate in Iraq will coincide to whatever the rates are on the global currency exchanges that you want to exchange the dinar to. The banks will then use FOREX. Get it? It that so hard to understand?
This is the other hard part that many of you don’t understand and get confused. Why do you get do confused? It is because, once again these so-called, self-proclaimed, idiot intel gurus out there are telling you it will be 1:1 in Iraq. They don’t tell you the whole story or maybe don’t even know it. Yes, but the 1:1 is only as a temporary measure.
Once on FOREX, there will be currency exchange rates in Iraq and elsewhere according to the country’s currency you are exchanging it in. For instance, if you are in the United States you will exchange for USD. If you are in Germany you will exchange for Euros, etc.. etc.. Get it. There are no other rates. The Iraqi program rate will be gone. That whole temporary currency system will be gone.
I certainly wish I was clear enough in my explanations today. I know, I know there is lots of confusion in the dinar intel community and it is all brought upon us by people trying to make $$ and not concerned about bringing FACTS and TRUTH to you about this investment.
Let us all continue our RV prayers. We are almost there. We see now more and more talk than ever of Joe Biden either being impeached or now even the 25th Amendment. This is what we wanted to hear if the Timothy Dixon prophecy is to come to pass. Keep an eye open on this 25th amendment as the prophetic word was told to us that in the process this fake actor of Joe Biden will be revealed, and that the real Joe Biden did not even actually take the oath of office. WOW! Why? Because he died and the actor took his place. Get it? Once discovered this will go to the Supreme Court, Harris will most likely jump I to the presidency for continuity of the office but very shortly also be ousted because of the fake inauguration. Get it? Also, she is part of the plot, a coconspirator and so Mike Johnson or even Donald Trump may very well step into the presidency. God has not yet revealed the rest to us. Confusing times are ahead in 2024. This all has to happen this year. There is no more time. And so when you see it all play out just remember it was the Hand of God working to help save America and Make America Great Again.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/STATUS OF THE RV BY MNT GOAT, 14 FEB
STATUS OF THE RV
Again, more clarity needed on more bullshit. Are you one of those TNT followers coming over to my blog to see if I agree with your puppet master Tony and his recent information. I can tell you right now – NO I do not! So, you can leave now π.
I have never witnessed such a liar and such a bullshitter in all my life. Folks it is just another narrative to get you to believe the RV is happening. Get it? This guy’s job is to string you along. He has nothing else to report so he has to try a new tactic and just make this stuff up. Get it? This latest fiasco is a “hum-dinger” and I can’t believe he can push out such bullshit. Is you don’t know what I am talking about you are better off. But for all the idiot sheepies TNT followers this message is for you.
Oh… Tony will say later I am just reporting with my “trusted” contacts told me. I must ask then- how in hell can you call someone a “trusted contact” when this same people keep telling you all this garbage intel week after week, month after month, year after year. So, I say don’t blame them, I blame the idiot who repeats it and passes it out to his listeners.
Enough about this jerk and am sad I even have to come on and clarify all this nonsense. So, once again its now Tuesday and NO RV as was promised over the weekend.
Onward with our juicy news for today (real news, not fake news):
So, in this period I have some WOW news to share. It is in an article that came out from an interview with economic expert, Nasser Al-Kanani. The full article is in the articles section of today’s Newsletter and I whole hardily encourage everyone to scroll down and read it.
We all should know by now we are waiting for the next step to occur from the CBI. This next step is the final program rate change of the “official” CBI rate close to and just over 1:1, then followed by the “Project to Delete the Zeros”. Today’s main article talks about this next move by the CBI in some detail and connects it with the electronic banking effort that Iraq has been attempting to achieve during the Dr. Shabibi days even. So, this part has been going on for a long time. Yes, this idea was his and still is the forerunner of the Project to Delete the Zeros. This article explains this part of the Dr Shabibi and IMF plan clearly and how it all connects together with the electronic banking and why.
So, once again we see yet another economic expert putting pressure on the CBI to follow up and adhere to the 2011 plan. He is basically supporting the plan and saying and I am paraphrasing – If you want a solution to your parallel rate issue and the corruption then complete the 2011 plan, as Dr Shabibi and the IMF devised. Why are they not moving ahead? We know this is the precursor to get to the reinstatement.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/"ANALYSIS OF IRAQ NEWS: PARLIAMENTARY SECURITY ACCUSES WASHINGTON OF OBSTRUCTING THE ARMAMENT OF THE ARMY" BY MNT GOAT, 14 FEB
PARLIAMENTARY SECURITY ACCUSES WASHINGTON OF OBSTRUCTING THE ARMAMENT OF THE ARMY
Information/Baghdad.
On Tuesday, a member of the parliamentary security and defense committee, Mohammed al-Shammari, accused Washington of obstructing the armament of the Iraqi army, warning of the consequences of the continuation of the US veto on Iraqi armament.
Al-Shammari told Al-Maalouma that “the United States of America stands against arming the Iraqi army and is working to prevent Iraq from concluding arms contracts with Russia, China or European countries.”
He pointed out that “the American monopoly on armaments in Iraq is almost turning into a pressing and major problem.”
Experts confirmed earlier, that the US military strategy in Iraq is that the Iraqi forces of all kinds do not possess advanced weapons through armament contracts with Russia, China or European countries.
(How can Iraq protect itself if it can’t purchase these much needed weapons. Oh…the US would luv to be their protector forever and have a major influence in the region. We need the oil to flow…get it? We need the Petro-dollars. Folks this is not sovereignty. Get it?)
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Rights: The Iraqi economy is in the hands of America, 14 FEB
Rights: The Iraqi economy is in the hands of America
Information / Baghdad..
On Wednesday, the head of the Parliamentary Rights Bloc, Saud Al-Saadi, accused the United States of America of besieging Iraq economically.
Al-Saadi told Al-Maalouma, "The recovery of the Iraqi economy requires bold decisions to stop American hegemony over Iraq's sovereignty."
He added, "America prevents Iraq's openness to the Belt and Road Initiative and other development projects, violates sovereignty, and controls all aspects of political and economic life."
He explained, "America made the dollar and energy files a pretext to seize Iraqi funds after selling oil, and made the local economy captive in its hand.
"RV UPDATE" BY WOLVERINE, 14 FEB
Some Bond holders who are Whales have been paid and they all are under NDA.
We heard last week that about three of these Whales started talking. Unfortunately, their accounts were frozen after 30 years of waiting. Please be careful everyone.
There are some bad people sending out legit looking forms, saying they got paid, and asking you if you got paid, but if you respond to them you will be breaking your NDA contract. If people ask you if you got paid just BLOCK them. Be careful! In my opinion, when you get your blessing, do NOT help people right away, as they will ask “Where did you get all that money?”
Mauricio had a meeting with people who said this will be a Golden week.
The EBS system is ready to go. Hopefully we will get that after our blessing, as the EBS does come AFTER the blessing.
Specialists Urge Directing Loans To Increase Domestic Product, 14 FEB
Specialists Urge Directing Loans To Increase Domestic Product
Economical 02/13/2024 Baghdad: Haider Falih Al-Rubaie Specialists in economic affairs urged the necessity of seeking to direct the loans and credit facilities granted by banks to the private sector, towards activating and increasing production processes,
indicating that these facilities exceeded 50 trillion dinars last year 2023,
but they did not contribute to increasing output rates. GDP, stressing at the same time the importance of building more bridges of trust between investors, businessmen and companies with government and private banks with the aim of facilitating the granting of loans directed towards increasing local production.
Unofficial statistics, reported by the economist, Manar Al-Obaidi, showed that
“the credit facilities provided by the banking sector to the private sector exceeded the barrier of 50 trillion Iraqi dinars during the past year 2023, which is the first time that this number of credit facilities provided by the banking sector has been recorded.” "The Iraqi."
Al-Obaidi pointed out that “the value of credit facilities provided to the private sector represents 14 percent of the total Iraqi domestic product,” noting that
“despite the increase in the volume of credit facilities provided to the private sector during 2023 by 11 percent compared to the year 2022, the credit ratio The percentage of GDP is still low compared to the percentage of Arab countries, as the percentage reached, according to the World Bank, about 55 percent of the GDP.”
Al-Obaidi explained, “Cash credit facilities increased by 19 percent compared to 2022, as the credit facilities amounted to 40 trillion Iraqi dinars,
while the pledged facilities provided by the banking sector to the private sector amounted to 12.5 trillion Iraqi dinars,” suggesting at the same time that “the percentage will rise in the coming years.”
As a result of the increase in the value of deposits with banks, which is considered the most important factor for the banking sector’s ability to provide direct credit facilities to the private sector,” indicating that
“increasing the domestic product from non-oil sectors will lead to an increase in demand for credit facilities during the coming years,
which will improve the reality of credit provided to the sector.” private" .
In turn, the economic expert, Dr. Ali Daadoush, said during his speech to “Al-Sabah” that
the first step to the success of the partnership between the two parties is to build confidence between businessmen, merchants and investors from the private sector on the one hand, and with the banks on the other hand. Daadoush stressed,
“In order to empower the private sector, we should move towards activating what he called “moral persuasion” as part of the monetary policy that can be followed with the aim of revitalizing the role of the private sector,
by directing the banks by the Central Bank to work in accordance with supporting the private sector by increasing... Investment credit, that is, supporting local production,” indicating that this step “is capable of achieving a lot if the banks move towards this matter.”
Daadoush pointed out that most of the funds granted to the private sector in the past went to finance imports and were not invested in building a production base for local industries, and thus this matter led to deepening imports and weakening local production further. https://alsabaah.iq/91687-.html
THE BIG CALL HIGHLIGHTS, 14 FEB
Tues. 13 Feb. 2024 Bruce (as reported by Sue), The Big Call The Big Call Universe (ibize.com) 667-770-1866, pin123456#
- Their #1 Iraqi Contact in the US received a text on Tues. 13 Feb. with a picture of a Thumbs Up for Wed. 14 Feb.
- Their Iraqi contact went to exchange in a US Bank on Tues. 13 Feb. where the Wealth Managers were huddled in a meeting. He was told to come back on Wed. 14 Feb. and he could exchange.
- They felt that meant Iraq was going on Wed. 14 Feb. and that Tier4b (us, the Internet Group) notification to set and begin currency and bond redemption appointments could happen on Wed. 14 Feb.
- The Iraqi Dinar was on the Forex and trading last Sun. 11 Feb.
Coffee with MarkZ and Andy Schectman. 02/14/2024
Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations, 14 FEB
Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations
Time: 02/12/2024 16:25:10 Read: 4,888 times {Economic: Al-Furat News} The Parliamentary Oil Committee revealed, today, Monday, the government’s approach to electronic payment at gas stations.
Committee member, Zainab Al-Moussawi, said {to Al-Furat News}:
“We, the coordinating framework, strongly support the government’s economic measures, including moving toward cash payment with electronic cards, since
electronic payments are inherently safer than paper ones, whether on the health and safety side of the transmission of viruses, or on the side of not counterfeiting.” Sukuk.” She explained,
"Bank cards provide double security from any fraud attempt, and the various controls and successive verification processes contribute to making the payment process more secure."
Al-Moussawi added, "In addition, individuals can track all their transactions online, which contributes to increasing financial awareness and improving the management of expenses and the personal budget." She pointed out that"other features of electronic payment
enhance the financial security of individuals, as carrying cash exposes people to theft and loss, while
electronic payment provides an additional layer of protection and encryption for financial transactions."
On January 30, 2024, the Petroleum Products Distribution Company, in cooperation with Rafidain Bank, launched the service of issuing electronic payment cards immediately at gas stations.
The Petroleum Products Directorate of the Ministry of Oil announced the continuation of cash payment at fuel filling stations until next April.
In its regular session, the Council of Ministers approved the following regarding commissions for electronic payment operations:
1. (The recipient bears electronic payment commissions from the private and public sectors, and the payer does not bear any electronic payment commissions), and
the government compensates a percentage (50%) of electronic payment commissions. paid by the holder (the merchant, the employer, and all private sector entities),
provided that it is used to pay the holder’s obligations to the state exclusively through electronic payment, such as renewing licenses, paying taxes, customs, fees, municipal fees, electricity fees, and everything owed to the state, and it cannot be recovered in cash in any case. Conditions.
2. Determine all electronic payment commissions (at a percentage determined by the Central Bank of Iraq), with a maximum commission limit that stops at a commission amount (the value of which is determined by the Central Bank of Iraq for both the public and private sectors) and what exceeds that without commissions, and a minimum that is exempt from commissions as well (Exempting small transactions in the public and private sectors from commissions up to a ceiling determined by the Central Bank of Iraq.
3. The contracts signed based on what was stated in the decisions of the Council of Ministers related to electronic payment, especially the decisions of the Council of Ministers (23044 and 23620 of 2023) etween state institutions and electronic payment companies, will continue to be effective until December 31, 2024, and the contracting institution may submit a reasoned request to the Central Bank of Iraq in If she wishes not to extend the approval process.
4. The decision will be re-evaluated in light of the results of the application before the end of this year 2024.
5. This decision will be implemented starting March 1, 2024.