Friday, May 3, 2024
Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 3 MAY
Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 2 MAY
Shafaq News/ A government source said, today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani directed several executive measures related to the electronic payment system and electronic points of sale (POS).
According to the source in his statement to Shafaq News Agency, this directive aims to enhance the use of electronic payment in Iraq and facilitate and monitor financial and commercial operations carried out through this system.
The source summarized the most important main measures that Al-Sudani directed, which are as follows:
1- Determine the tax wages that can be paid in cash in the amount of (500 thousand dinars) and what is more than that is settled via electronic payment.
2- Forming a joint committee between the Central Bank of Iraq, the Communications and Media Commission, and representatives of the private sector who are specialists in this field, which will do the following:
A- Proposing mechanisms to reduce fees for telephone messages related to electronic payment operations.
B- Coordination with the National Cybersecurity Committee and providing it with the risks that it indicates for the purpose of addressing them by the relevant sectoral authorities.
3- Instructing the competent authorities, including the General Directorate of Organized Crime in the Ministry of Interior and the National Security Service, to take their role regarding the observed violations and fraudulent operations regarding electronic payment operations.
4- Instructing the concerned authorities not to renew the license of educational and medical institutions, hotels, restaurants, and all other professions except after presenting the contract for using electronic payment to those authorities.
5- Assigning the Central Bank of Iraq to set specific standards to be used in government departments and institutions to activate electronic payment operations. Through those standards, the Federal Integrity Commission can monitor and measure the work of government departments in a manner consistent with those standards, and is accompanied by organizing training workshops on those standards between the Integrity Commission and the bank. Iraqi Central Bank.
6- Instructing the relevant authorities, including government institutions, private sector institutions, and banks, to increase the number of electronic payment devices and other self-services, which contributes to the development of electronic payment services in the country.
7- Assigning the Central Bank to formulate a proposal with the minimum requirements that are available in contracts for electronic wallets.
9- Forming a joint work team between the General Authority for Taxes, the National Security Service, and the Ministry of Interior/General Directorate for ombating Organized Crime, which will undertake the task of conducting inspection tours of various commercial areas to ensure the provision of trade names, tax identification, and electronic payment points.
In October 2023, the Iraqi Council of Ministers issued several executive measures related to the electronic payment system and electronic points of sale (POS), and said at the time in a statement that they “aim to enhance the use of electronic payment in Iraq and facilitate financial and commercial operations.”
shafaq.com
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 3 MAY
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Some guy on television talking about advantages that we as Iraqi citizens are going to have with a fixed exchange rate pegged to a stronger currency. He says Iraq now has a soft peg and...the float is not necessarily as a fixed rate...
FRANK: The monetary reform education is explaining the reason why you don't need a basket...They are also expressing you don't need a float. That's because your reserves are so powerful...But IMO the float will occur because it needs to reach the real effective exchange rate of your currency on an International level.
They are also trying to explain to you you do not need to be pegged to any currency, not even the dollar.
FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started.
FRANK: Woohoo! ...The new exchange rate is the pivotal role they are about to give them...
Washington announces its position on the possibility of postponing the elections of the Kurdistan Parliament, 3 MAY
The US State Department confirmed that it “does not oppose” the postponement of the elections of the parliament of the Kurdistan Region “for a short period if this agreement requires it.”
“We recognize that the Independent High Commission for Iraqi Elections needs some time to make the changes they are negotiating” political parties, the US State Department spokesman said Wednesday, on postponing the Kurdistan Parliament elections.
“We believe that reaching an agreement between the political parties is important, and if this agreement requires the postponement of elections for a short time, the United States is not opposed to that,” he added.
Although next June 10 is scheduled for the Kurdistan Parliament elections, the KDP refuses to participate in them under the current conditions and “without ensuring the participation of other components” after the Federal Supreme Court’s decision to cancel the quota seats.
The President of the Kurdistan Region, Nichirvan Barzani, discussed the issue of elections, during his visit to Baghdad on April 27, 28 and 29.
According to the spokesman of the presidency of Kurdistan, Delshad Chehab, Barzani stressed during his meeting with Prime Minister Mohammed Shia Al-Sudani, the importance of having equal opportunities for all parties and parties to participate in the elections in accordance with the constitution and the laws in force in Iraq.
During his reception, the Chairman of the Board of Commissioners of the Independent High Electoral Commission, Omar Ahmed, Al-Sudani also stressed “the importance of holding elections under a political consensus, the participation of all community components from the Iraqi spectrum in the region, and ensuring the achievement of the principle of justice and equality in the implementation of this entitlement.”
https://alforatnews.iq/news/واشنطن-تعلن-موقفها-من-احتمالية-تأجيل-انتخابات-برلمان-كردستان
"RV UPDATE" BY MILITIAMAN, 3 MAY
Militia Man
Everything is falling in line for Iraq to go international. You haven't see the salaries paid yet...you haven't seen the oil start pumping yet into Turkey...Why? Because they haven't shown us or exposed an international real effective exchange rate. That's my view on it.
When you talk about drop the three zeros... Al-Sudani's goal is to bring purchasing power to the his citizens. When he said $0.76, that's purchasing power. It's not a lop. It's purchasing power. If you have a lop you don't have purchasing power, you just have a change in denomination...They're going to bring purchasing power to the citizens. All of that is happening before our eyes.LATEST FROM FIREFLY, 3 JULY
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