ERBIL (Kurdistan24) – The Iraqi Ministry of Trade announced plans to implement a new electronic food ration card system, replacing the current paper format.
The transition to electronic cards is set to take place across the country, with the system already being rolled out in several provinces.
On Friday, Sattar al-Jaberi, Deputy Minister of Trade, confirmed that the ministry has started converting the monthly food ration receipts of citizens from paper to electronic format.
Alongside this, new registrations, separations, transfers, and replacements of ration cards have been temporarily suspended in all provinces to facilitate the transition.
The new electronic system is currently being introduced in Baghdad, Najaf, Kirkuk, and Duhok. Al-Jaberi explained that the electronic cards will carry the same information as the previous paper receipts, allowing citizens to register their documents online without the need to visit food ration distribution centers.
According to al-Jaberi, the ministry has completed updating the records for all Iraqi citizens—approximately 40 million people—and the program is now fully ready for implementation.
He added that the system will also help distinguish between the living and deceased citizens, ensuring that the names of deceased individuals are removed from the system, effectively stopping their monthly food rations.
The move to an electronic card system is expected to streamline the food distribution process and improve efficiency across Iraq’s food ration program.
Article: "The government-owned Rafidain Bank announced on Friday that it has collected more than four trillion dinars electronically for the benefit of 700 government departments...
the total amounts that were settled and collected for the benefit of those government departments and deposited in their accounts at Rafidain Bank amounted to more than four trillion dinars."
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Article: "World Bank issues optimistic report on Iraq, points to 'major transformation' "
Quote: "The World Bank issued...report, which indicated that Iraq is witnessing a major transformation in improving the business environment, “noting” the progress made by Iraq in vital areas such as regulatory frameworks, public services, and operational efficiency.”
Economist Nabil Al-Marsoumi expected on Friday that the price of a barrel of oil would rise to nearly $200 if the war in the region expanded to include the Gulf states, and Iran closed the Strait of Hormuz and cut off the flow of about 20 million barrels of oil to global markets daily.
The expert spoke in an analysis published today about the two expected possibilities regarding what he called the coming oil war. He said that the first of them is that Israel will target the Iranian oil export outlets, especially Kharg Island, through which 90% of Iranian oil exports pass. This means eliminating 1.5 million barrels of Iranian oil from the market, which will raise prices by about $5 per barrel to $82.
He added: But it will lead to cutting off the most important sources of Iranian funding, and in this case we will face several scenarios. The first is that OPEC Plus will intervene and cancel voluntary and mandatory production restrictions, which will provide sufficient oil supplies to compensate for the loss of Iranian oil, indicating that this will lead to a decrease in prices and their return to the $70 mark.
He addressed the second possibility, saying: The war may extend to include oil pumping and export stations in the Gulf, which may negatively affect Gulf oil exports, especially Saudi oil exports, which will push oil prices above $100 per barrel.
Al-Marsoumi also pointed out that Iran had previously confirmed that preventing it from exporting its oil to the world also means preventing the exit of oil from the Strait of Hormuz. If Iran closes the Strait of Hormuz, this means cutting off about 20 million barrels per day of global oil supplies, which will push prices to $200 levels, in addition to negatively impacting Gulf gas shipments that pass through the strait.
The Iraqi economic expert continued by saying that the Israeli strike will be limited to hitting oil facilities, especially Iranian refineries, which means taking out 300 to 400 thousand barrels per day of Iranian exports, noting that in this case it will have no significant impact on global oil prices, especially after Libyan oil returns to its previous levels. link
Shafaq News/ On Saturday, Iraqi government sources revealed that the US has issued strongly worded warnings to Baghdad following recent attacks by armed factions on American forces at a military base in Baghdad International Airport, as well as escalating military actions against Israel.
The sources, speaking to Shafaq News Agency, said, "Various officials in the Iraqi government received messages from the US within the last 48 hours, which were severe in tone and threatened direct action against the armed factions and their leaders if the attacks on American interests in Iraq and the region continue, or if the factions escalate their military operations against Israel."
The sources further noted that the Iraqi government is taking these warnings seriously. "The government is currently exerting pressure on the factions to prevent any further operations against US forces, whether inside Iraq or outside, including in Syria. Additionally, they are urging the factions to reduce military activities against Israel, limiting them to supportive operations without hitting key targets at military bases or elsewhere in the occupied territories."
Referring to a recent attack in the Golan Heights, the sources warned that "what happened in the Golan a day ago will not go unanswered, and there will be a military response soon targeting the factions involved in the operation, either inside Syria or Iraq."
"Iraqi officials have communicated the US warning to faction leaders, advising them to take precautionary and security measures in anticipation of any potential strikes against them in the coming days," the sources concluded.
FIREFLY:Bank guy Mr. Sammy still thinks maybe by the end of the year...but he's hoping November now.
FRANK: My position has not changed...We feel this will be done this year...The evidence, action, mechanism that is needed for the new exchange rate and the lower notes to be introduced will all occur this year...
Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani received Swiss Ambassador Daniel Hunn on Saturday, marking the first Swiss ambassador to Iraq after the reopening of Switzerland’s embassy in Baghdad.
The Swiss embassy's reopening comes 33 years after it was closed, with al-Sudani describing the move as “an important step and a new phase in the relations between the two countries.”
According to a statement by his media office, Al-Sudani emphasized the importance of reactivating joint working committees to foster greater cooperation.
During the meeting, both sides expressed their mutual desire to bolster Iraqi-European relations, particularly as Iraq experiences stable security conditions and an economic renaissance.
The Prime Minister reaffirmed the government’s commitment to supporting “a favorable environment for business and investment and to fostering constructive economic partnerships.”
For his part, Ambassador Hunn expressed that the reopening of Switzerland's embassy in Baghdad “would contribute to strengthening bilateral relations and facilitate the presence of Swiss companies in Iraq to benefit from available investment opportunities.”
The meeting also touched upon “the ongoing Zionist aggression against Gaza and Lebanon, targeting defenseless civilians, and the role of the European Union in stopping these massacres. They discussed the need for an international stance to prevent the expansion of the conflict in the region, which poses significant risks and threats to regional and global security,” according to te statement.
This video below is a typical news station interviewing economists on the subject matter. But we must ask ourselves WHY and WHY NOW all this talk about the project to delete the zeros in the news.
Is the country of Iraq telling the people this will happen shortly?
Is this why all this news about it? Of course, the answers to all these questions is a Big Fat YES! What the hell else have I been telling you now for weeks? Even since June?
Government Advisor: Development Fund Provides Great Support to Private Sector
Advisor to the Prime Minister, Hussein Flamers, confirmed today, Saturday, that the Development Fund provided the private sector with unprecedented great support, while setting two conditions for developing the private sector.
Flamers said in a statement to the Iraqi News Agency (INA): "Prime Minister Mohammed Shia Al-Sudani blessed the first national forum for the private sector, which is held by the Private Sector Development Department at the Ministry of Trade, in cooperation with Bayt Al-Hikma for Training and Consulting," indicating that "such meetings put us in the forefront and we are on the right path in developing the private sector." Flamers explained that "we must benefit from the versions that preceded us in other countries and developed the private sector and work to have a single window that enables those working in the private sector to be a source of glory for it and for the process to run smoothly," noting that "the government program presented by Prime Minister Mohammed Shia Al-Sudani supports the private sector."
He explained that "the Iraqi Development Fund provided the private sector with unprecedented support, but we need legislation, and intensifying laws and legislation is a very important step in developing the private sector," noting that "financial and banking services, facilitating and simplifying procedures, and providing services are all part of supporting the private sector, which depends on achieving two conditions: the first is simplifying procedures, and the second is reducing the efforts expended." link
Article: "What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher"
Quote: "Economist Mahmoud Dagher pointed out that deleting zeros will not change...the purchasing power of the dinar...Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.
The amount of money on offer...is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar."
Iraqi forces decide to keep out of Israel’s battles with Hezbollah and Iran
Officials and paramilitary commanders say Israeli attacks could be ruinous for Iraq and even topple its government
The Iraqi political and armed forces affiliated to Tehran have decided to distance themselves from Israel’s battles with Hezbollah and Iran, fearing that expanding the growing Middle Eastern wars could ruin Iraq and their own positions.
Iraqi officials and leaders of Iranian-backed armed factions told Middle East Eye that the focus instead will be on providing humanitarian aid and financial support to civilians affected by Israel’s war on Lebanon.
No US interests or military bases in Iraq or Syria will be targeted by Iraqi armed factions until further notice, commanders said.
Over the past year, Israel’s onslaught on Gaza has drawn reprisals from Hezbollah in
Lebanon, Yemen’s Ansar Allah (commonly known as the Houthi movement), and Iraqi paramilitary groups.
Meanwhile, Israel has begun waging war on Lebanon. It has also killed Hezbollah’s leader, Hassan Nasrallah, and assassinated Ismail Haniyeh, Hamas’ political leader, in Tehran.
In response, Iran rained ballistic missiles on Israel on Tuesday, causing significant damage to Israeli military bases.
The escalation has raised the prospect of further Iraqi participation, whether through Iraq’s regular military or its multitude of paramilitary groups.
However, Iraqi officials say there is a belief that this would lead to the collapse of Iraq’s political, economic and military system and the fall of its government.
Sudani seeks calm
Over recent days, Iraqi Prime Minister Mohammed Shia al-Sudani has held dozens of meetings with political leaders, commanders of armed factions allied with Iran and the top brass of Iraq’s security services.
According to one of Sudani’s advisers, the prime minister sought to “explain the reality of the situation facing Iraq and the consequences of any Iraqi party getting involved in the ongoing conflict”.
He also met with various Arab and western diplomats, and spoke to several neighbouring leaders, including the Egyptian president, Qatar’s emir and the king of Jordan.
Sudani pressed them to help “stop the ongoing Zionist aggression on Lebanon and Gaza, which threatens to expand the conflict throughout the region", his adviser said.
Iraqi officials and commanders of armed factions told MEE they believe Iraq will be one of four countries that Israel will strike soon, in response to the Iranian missile attack.
'Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq'
- Adviser to the prime minister
A succession of dramatic and ruthless Israeli attacks on Lebanon and Hezbollah over the past two weeks have been met joyously by Israel’s leadership and public.
Yet, Sudani’s adviser noted, “the Iranian missiles have dispelled their euphoria”.
“This means that it will definitely respond to this attack. Israel will inevitably attack Iraq, as it will attack Syria and Yemen, in addition to some oil facilities in Iran,” he said.
"Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq,” the adviser added.
"Iraq's political, security and economic situation is fragile and will not endure any party's adventure. Any ill-considered action in the coming days will have a high price and could burn everything."
Potential targets
Sources in the armed factions and security services predict Israel could hit several targets, including the headquarters of the Popular Mobilisation Forces (PMF), a governmental umbrella organisation that oversees various paramilitaries, including those close to Iran.
Last week, rumours were rife in political and media circles that Israel had drawn up a list of 35 targets in Iraq, including the locations and names of political leaders and the heads of armed factions.
Yet paramilitary commanders and security officials insisted to MEE there is no indication that such a list exists.
“Its targets in Iraq are known and clear. It will attack the camps of some armed factions, as well as the camps and headquarters of the Popular Mobilisation Forces, and may target some commanders of the armed factions,” a senior PMF official told MEE.
“The only two figures who are actually targeted are Akram al-Kaabi, the commander of Harakat Hezbollah al-Nujaba, and Abu Hussein al-Muhammadawi, the commander of Kataeb Hezbollah,” the official said.
The official noted that the leaders of other Iranian-linked armed factions have traded their military roles for more political and economic ones, and no longer have any real influence on the armed resistance to Israel.
“The Israelis and Americans know this and are well aware of it, and have no interest in targeting them,” he said.
On Tuesday evening, immediately after the Iranian missile attack ended, the anti-Israel Iraqi paramilitaries that make up the “Islamic Resistance” issued a joint statement. They said they would not target US interests and military bases in Iraq unless Washington helps Israel attack Iran, or if Iraq’s airspace is used for Israeli bombing raids.
“Then all American bases and interests in Iraq and the region will be our target,” the statement said.
“All parties agreed to stop any military operations at this stage, but if Israel strikes any of them, everyone will respond at once,” a Harakat Hezbollah al-Nujaba commander told MEE.
"American and Israeli interests in Iraq and the region will all be targeted."
Precautionary measures
Sudani has put all Iraqi military forces on high alert since Tuesday evening. Most armed faction commanders have not appeared in public since then.
Meanwhile, a meeting was convened by the Popular Mobilisation Forces' leadership on Monday to discuss the latest developments and ways to secure its offices and forces, commanders told MEE.
According to one person present at the meeting, they all agreed to avoid engaging in the escalating regional conflict, including attacking US forces in Iraq, which they had done repeatedly before the beginning of this war.
They also decided to reduce the number of paramilitary troops at their headquarters and inform commanders to avoid being there, too.
The PMF leadership agreed to send all commanders strict instructions that all the fighters registered with the organisation should not be involved in the regional conflict in any way.
“If they decide to engage in the battle, they should not use their fighters registered on the Popular Mobilisation’s payroll, or its vehicles or equipment,” said the source at the meeting.
One senior commander, who was also at the meeting, described the situation as “very critical” and said “any mistake, we will all pay the price for”.
“We are targeted. Our troops’ locations, headquarters and weapons warehouses are exposed and known, so there is no room for any uncounted action,” he said.
“It is easy. We are regular troops, so our choice is the government’s choice. It is that simple.” link
I have never been accused of being soft spoken...Taxes: ...There are rich people and there are poor people. The difference is that the poor pay taxes all their life and the rich pay little to no taxes.
The Tax Code (IRC) is written for both. You DO NOT have to pay out one third to one half your exchange funds in taxes.
You can use a Charitable Remainder Uni-Trust and pay only 10% in taxes and those taxes are deferred for 20 years if you wish.
Find an Asset Protection organization or attorney...It [The CRUT} is a two page document and gives you the legal right to pay ZERO capital gains taxes...and you can buy and sell using the Trust...This is perfect for real estate but can be used for an unlimited number of purposes..
Next, you do not need an army or "Team" to help you handle your money. You need only find a reputable asset protection firm or attorney...Doing it this way eliminates wealth managers, lawyers, CPA's, investment councilors, etc. The asset professional will usually have an in-house CPA...What exactly are you doing anyway? You are eliminating all three wealth killers.
Those are Lawsuits, Taxes, and Estate Planning...You will...pay minimum taxes, and mitigate Taxes, Lawsuits, and Estate Planning. This...will insure that you get wealthy, stay wealthy, and pass your wealth on to your heirs without probate, estate taxes, death taxes, or capital gains taxes.
I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.
There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation.
It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but let's not get greedy. $4.80 is just about right.
Stay tuned because I will have a mind bender coming for you next time and it will really make you think.
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Fnu Lnu
Exchange Centers are off premises bank facilities to prevent excess traffic at bank branches. It is illegal to have different rates at different places. Remember the Law of One Price.
Fnu Lnu
I do not buy this "Education Program" nor do I buy the "Adjusting of the Parallel Market". The education is taking too long to be effective and it isn't government's job to adjust black markets. These are stall tactics while they placate the masses. But why?...
When you drag out the "Education" as long as the GOI and CBI has been doing, nothing sticks. If it is not in practice, then it is just words from the mouths of bureaucrats. Iraq has had more than enough of that and they do not pay attention.
They will become educated when it means something to them, like the cost of goods and services, and buying power, and velocity of money. This is all obfuscation and I don't believe a word of it. Logic tells me they are stalling the people.
The $64,000.00 dollar question is why? What's the real plan?
Shafaq News/ The Association of Currency Exchange Companies in Mosul on Saturday called on Iraqi authorities and the Central Bank to allow firms in Nineveh to access the central bank's dollar auction, enabling them to buy US dollars at the official exchange rate.
Abdullah Khalil, head of the association, told Shafaq News Agency that the exclusion of Nineveh’s exchange companies from the auction has strained the local economy.
"The ongoing denial of access to the dollar auction has deprived Nineveh of obtaining dollars at the Central Bank’s rate, negatively impacting the economic situation," Khalil said.
Khalil noted that, despite fulfilling all of the central bank’s requirements over a year ago, currency firms in the governorate have not yet been granted the necessary code to participate in the auction.
He said Mosul traders are forced to buy goods from Baghdad rather than importing them directly, due to their inability to access US dollars at the official rate of 1,300 dinars per dollar. He added that the lack of access to dollar-based transfers has also forced residents to conduct transactions through other governorates.
Khalil urged the Iraqi authorities to grant Nineveh’s firms equal access to the dollar auction, similar to other provinces, to help stabilize the local economy.
"His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received the Ambassador of the Republic of Turkey to Iraq, His Excellency Mr. Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq."
The meeting had two purposes: The use of international audit firms between banking systems in trade between Iraq and Turkey and external transfers between their Banks.
Audit firms are important in the regulatory auditing of banks and securities firms. They assess compliance with regulatory requirements and consider the risks that supervised institutions face. Bank auditors also verify income recognition, assetclassification, and capital adequacy. They evaluate the effectiveness of internal controls, risk management, and corporate governance.
And finally, external transfers, also known as a bank-to-bank transfers, is a way to move money from one bank account to another.
Did you notice Asset Classification and Bank to Bank movement of money were mentioned in this article? We discussed these in previous articles as requirements needed for Iraq's movement of money.