Saturday, May 25, 2024
"ALL THE PARTS OF THE MONETARY REFORM ARE SNAPPING TOGETHER IN ITS SECOND PHASE" BY FRANK26, 26 MAY
KTFA
FRANK26:"ALL THE PARTS OF THE MONETARY REFORM ARE SNAPPING TOGETHER IN ITS SECOND PHASE".F26
Iraqi fintech ZainCash goes live with Temenos
Temenos has announced that ZainCash, a payment service provider in Iraq, has gone live with Temenos core banking and payments to power the growth of its digital payment services.
The successful implementation aligns with the strategic goals of the Iraqi government and the central bank to boost financial inclusion and expedite the digital transformation of the national economy. It positions ZainCash to expand its operations more effectively, elevate the customer experience, and swiftly introduce new products.
ZainCash has rapidly expanded, achieving over 1.2 million app downloads. ZainCash enables users to make quick and easy local and international transfers, pay local merchants and government services, manage funds with aconvenient multicurrency card (physical or virtual), as well as enjoy a variety of bonus features like digital vouchers.
ZainCash’s network of 10,000 agents ensures these financial services are available everywhere in Iraq
With Temenos, ZainCash has brought together its core banking and payments capabilities on Temenos’ flexible, composable banking platform, which enables easy integration with existing internal systems, as well as with the Central Bank of Iraq. The robust, agile platform will enable the company to scale quickly to meet growing consumer demand as it seeks to reach 3 million users by the end of the year.
ZainCash will use Temenos’ modern technology architecture with open APIs, to quickly launch a range of new services, including instant lending, and provide customised products for specific groups, such as families and students. It will also offer a digital and seamless onboarding process resulting in an improved user experience.
The Temenos platform will help ZainCash to continue widening financial inclusion by extending convenient digital financial services to more communities, including Iraq’s large unbanked population.
Yazen Altimimi, CEO, ZainCash, commented: “Temenos’ open and agile banking platform allows us to innovate and scale at speed, delivering a world-class payment experience that meets our customers’ growing needs and expectations. With Temenos, we can more easily expand our product range and provide more personalized services as we continue to lead the way in making payments safer, simpler and more convenient for all Iraqis.”
"Iraqi fintech ZainCash goes live with Temenos" was originally created and published by , a GlobalData owned brand.
"RV UPDATE" BY FRANK26, 26 MAY
Frank26
Question: "What is the price of a bottle of Cokein Iraq?" Way too much and that's why the prices are being adjusted and a new exchange rate will come out to match the new or lower denominations.
The problem is you don't see any of these contracts open do you?
...No, all of these contracts are sitting there waiting and waiting for what? For Sudani to pull the trigger. What is the trigger?
The lynchpin that will activate the contract and readjust the value according to the exchange rate of the Iraqi dinar, where the contract was signed in the Iraqi dinar value but to match their [contract holder's] currency. Brilliant... These signed guaranteed contracts will adjust to the calculation of the IQD value...These foreign currencies will not be calculated into the new exchange rate until the new Iraqi dinar exchange rate hits Forex...
A second set of books is a normal business action. Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books. The second set of books is simple business practice. It's not illegal unless you're doing it illegally under the table...This second set of books is not hidden...they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury...
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-frank26-25-may.html
"THE MONETARY REFORM IS CHANGING IRAQ'S REALITY" BY FRANK26, 26 MAY
KTFA
FRANK26: "THE MONETARY REFORM IS CHANGING IRAQ'S REALITY"............F26
Al-Sudani: We will not let the projects stop in any governorate, and their completion will change the economic and social reality
5/23/2024
The media office of the Prime Minister stated, in a statement received by {Al-Furat News}, that “Al-Sudani chaired, in the Najaf Governorate building, a meeting of directors and officials of service departments and formations, during which the reality of services in the governorate was reviewed, and the most prominent problems and obstacles facing the progress of implementation of service projects.” ".
He stressed that "the government kept in mind the citizen's entitlements when preparing the government program, and made the necessary basic services among the most important priorities, especially the lagging and stalled infrastructure projects related to the health, education, and other sectors, due to the conditions of war, terrorism, and instability."
He explained that "there is pressure on services and infrastructure in all sectors in the governorate, for various reasons, the most important of which is the delegations of visitors to Najaf Al-Ashraf."
The Prime Minister said during the meeting: “We look at services starting from the perspective of lagging projects, some of which date back to 2008, such as the treatment plant project,” pointing out that “the continuation of lagging projects causes collapses and changes in prices that burden the state.”
He added, "The federal government and local governments form one team," noting that "the voter for local governments is awaiting the results of his participation in the elections."
He continued: “Our visit aims to develop solutions to the problems, and we do not want to repeat the same excuses after a month or two,” adding: “We are following up on the smallest details and developing solutions, and we have allocated financial allocations, but we are governed by a budget and allocations, and the ability to spend these allocations.”
He added: "We will not let the projects stop in any governorate, and the completion of the projects will change the economic and social reality of the governorate," adding: "Visitors to the Old City come from all over the world, and the level of services in the governorate is measured in light of what is available in this area of the city."
He pointed out that "investing in Najaf Governorate is necessary to develop the industrial city and complete it in various aspects," calling on businessmen to "invest sovereign guarantees to establish agricultural and industrial projects."
He stated that "the indicators of the agricultural season confirm the growth in production, and 5 trillion dinars have been allocated to pay the dues of farmers and farmers, and Iraq is on the path to achieving self-sufficiency in basic crops."
"RV UPDATE" BY MILITIAMAN, 26 MAY
Militia Man
Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that ?
Sure, why not, educate the citizens, do what they got to do...
"I AM LOOKING FOR A TIME STAMPED CONTRACT ACTIVATED!!! BY FRANK26, 25 MAY
KTFA
FRANK26: "I AM LOOKING FOR A TIME STAMPED CONTRACT ACTIVATED!!!"...F26
Sudanese calls on the private industrial sector to invest in raw materials available in Iraq
5/23/2024
Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on the Iraqi private industrial sector to invest in the raw materials available in the country.
This came during the launch, in Najaf Governorate, today, of the executive works on the Iraqi Diyar Glass Factory project.
The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget, and in cooperation between the Trade Bank of Iraq (TBI) and the German Export Bank. It also represents the most important forms of cooperation between Iraq and Germany, the foundations of which were laid during His Excellency’s visit to the German capital, Berlin.
Al-Sudani stated that this factory is being implemented in an industrial city by an investor who is responsible for providing all services. The industrial city is also preparing to embrace industrialists and provide land and services, which is a feature that we aspire to be implemented in all governorates.
He pointed to the new project, which is the first to produce glass, with a capacity of 800 tons per day, which means 25% of the local market’s need. The factory will rely on silica available in Iraq, stressing the availability of many raw materials that have not been invested. He also directed the necessity of implementation according to the plan and schedule. Timeline.
The Prime Minister affirmed the government’s support for the private sector, and the provision of guarantees for all priority projects, especially the housing and construction sector, which represents a large demand for construction materials, indicating the country’s need to triple the existing factories for coverage.
Al-Sudani called on the serious private sector to invest in this important opportunity, as the government continues to remove obstacles and bureaucracy, as this path will provide real job opportunities, and larger industries will settle in this city and other industrial cities.
"RV UPDATE" BY POMPEYPETER, 25 MAY
PompeyPeter
If for one second the new rate had been shown the Council of Ministers, the parliamentary Finance Committee or the House of Representatives we would have heard them singing and dancing and cheering from Iraq. We certainly would have seen it from the CBI first. What happened then? ...As they've said, the amendments were viewed and passed by the Council of Ministers, the amendments of the 2024 budget were then passed to HOR via the Parliamentary Finance Committee...We definitely know the rate hasn't been exposed.
Yeah, Iraq could come out at 1310 internationally on Forex. A man could land on the sun or pigs could fly. In other words the odds are slightly better than those two scenarios but in the opinion of most people it will not happen.
Here's why: Sudani stated clearly that the dinar was worth more than the dollar and the value of the dinar would be higher than the value of the dollar. That ain't 1310 to $1. Secondly, Sudani said Iraqi's dinar would be the solution to the world's financial and economic problems. Not at 1310 it's not. Three, if they come out at 1310 it's impossible for the tripartite budget to work.
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-pompeypeter-4-march.html
Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq , 31 MAY
Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq
5/30/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.
Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.” LINK
"BEFORE THE 9TH!!!" BY FRANK26, 25 MAY
KTFA
FRANK26: "BEFORE THE 9TH!!!"........F26
A Sudanese advisor expects Parliament to approve the budget schedules before Eid... and warns against delay
5/23/2024
Mazhar Muhammad Saleh, financial advisor to Prime Minister Muhammad Shiaa al-Sudani, expects the House of Representatives to approve the financial budget schedules for 2024 before the Eid al-Adha holiday, which falls in the middle of next June.
Saleh told {Al-Furat News} agency, “It is noted that the level of coordination and harmony between the legislative and executive authorities will accelerate the House of Representatives’ approval of the financial schedules for the year 2024, in implementation of the provisions of Article 77/second of the Federal General Budget Law (Tripartite) No. 13 of 2023.”
He added, "What we expect is that the House of Representatives will approve the aforementioned financial schedules before the Eid Al-Adha holiday at the latest, and according to what some members of the House of Representatives noted."
Saleh noted that "the delay affects the movement of investment spending for new projects that the government planned to promote and in accordance with its ministerial program to serve the achievement of the goals of sustainable economic development in our country."
The Council of Ministers approved, in an extraordinary session last Sunday, the 2024 budget schedules, while the House of Representatives secretariat announced yesterday that it had received the schedules.
The Parliamentary Finance Committee began discussing the budget schedules, with expectations that it will be voted on before June 9.
A member of the Parliamentary Finance Committee, Alaa Al-Haidari, stated in a press statement that “Parliament has the powers to pressure spending and transfer funds, and this is linked to opinions regarding the schedules of service allocations to the governorates,” indicating that “the Council extended its legislative recess while awaiting the budget schedules, and the remaining time period of the month that Parliament extended.” Sufficient, and we expect that the budget will be voted on before the ninth of next June.”
The head of the Finance Committee, Atwan Al-Atwani, explained in a press statement that the committee “held continuous meetings to discuss the 2024 budget schedules and study financial policy,” explaining that it “will host the Ministers of Finance and Planning to discuss current and investment expenditures and budget paragraphs related to securing the necessary needs of the citizen, contracts, and appointments.” .
Raghad Dahham