Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.
The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.
It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.
90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency smuggling
Memberof the Parliamentary Security and Defense Committee, RepresentativeYasser Iskandar, confirmed today, Wednesday (May 1, 2024), that 90% ofthe counterfeit currency comes from across the border.
Iskandar said in an interview with "Baghdad Today", "Counterfeiting foreign currencies is one of the challenges that emerged remarkably in the Iraqi scene after 2003, led by mafias and multinational networks, some of which are for fraud and making money, and others carry an agenda of harming the economic reality."
Iskandar added, “The counterfeiting of currencies was not limited to foreign currencies, including the dollar, but rather extended to the dinar through the highest monetary denominations and in professional ways, which demonstrates the capabilities of the counterfeiting mafias,” pointing out that “90% of the counterfeit currencies come directly from across the border and are the most dangerous because of The development of the counterfeiting machine.
He pointed out that "the Interior Ministry's formations succeeded in reducing the counterfeiting of currencies by dismantling some networks, arresting their members, adopting a new strategy in monitoring and follow-up, and forming specialized teams to undertake the file of prosecuting those involved. He stressed that educating the community and clarifying the features of counterfeit currencies reduced the percentage of those who fall into their trap in... Markets and others, but they remain a source of limitation, especially with the attempts of these networks to continue counterfeiting crimes.”
Iraqis are experiencing widespread anxiety due to information about the spread of large quantities of counterfeit currency denominations of 25,000 Iraqi dinars, while social media has circulated video clips of people who have spotted large quantities of these newly printed counterfeit bills.
On Sunday (April 28, 2024), the National Security Service announced the dismantling of a money counterfeiting gang in Babil Governorate and the arrest of three others in Basra and Anbar Governorates.
A statement by the agency received by “Baghdad Today” stated, “The National Security Service in Babil Governorate was able, after field efforts and obtaining judicial approvals, to overthrow a two-person gang of counterfeiting US dollar denomination money and promoting it in a number of commercial stores.”
He added, "Our detachments collected complete information about these two individuals to suspect them and track them down until they were caught red-handed. They were seized with an amount of (20,700) counterfeit dollars that they intended to distribute in commercial activities."
He continued, "In Anbar and Basra governorates, our detachments were able to arrest three people for trading in counterfeit currency after luring them into an ambush, where about (8,000) counterfeit dollars were seized in their possession."
He pointed out that "the defendants and the seized items were referred to the competent judicial authorities to take the necessary measures in accordance with the law." link
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: ZIM today given the official launch of their gold backed currency today!
Member: Any bond news today?
MZ: I have no confirmations from anyone overnight. Not from bonds, groups, CMKX – anyone…..just dead silent.
Member: If Bondholders are under strict NDA’s. Hence the silence. I heard some have already lost out because they didn’t zip it..
Member: Rumor is the Dinar rate is $3.91 ?
Member: I’d be dancing in the streets if that happened!! Whoo hoo!
Member: That would be amazing…..now they just need to DO IT!!!
Member: If Iraq has a rate at 3.91 why aren’t we RV-ing?
MZ: I have had a number of contractors in the last day or two tell me that they were told to prepare for between $3.60-$3.90…so……….that is around that spot.
Member: I wonder why doesn’t Vietnam and others put pressure on Iraq for revalue?
Member: Maybe Iraq is waiting for all the other countries to be ready to RV?
MZ: It appears they have all positioned themselves for this month
Member: We need to pay attention to the collapse of the dollar and the banks
MZ: “Stock Market Crash Alert- Mark your calendars for May 1” Not sure if we will see this today or not as the markets have become so disconnected. The plunge protection team is doing a good job at floating an artificial market.
Member: Do we need to sigh an NDA at our exchange?
MZ: I was told the need for an NDA for currencies is getting slimmer and slimmer. But you may have one for the humanitarian projects. I could be wrong.
Member: If you need an NDA that could potentially if broken and negate your funds, I think that would deter people from doing Humanitarian Projects. Imo.
Member: Will we exchange at Redemption centers or Banks. Many gurus say only go to banks?
Member: , Redemption centers will most likely be located in a bank. Those centers will set up our QFS, with our exchanged funds. We will not know until time to exchange which banks or locations.
Member: You guys there has to be Redemption Centers or where else would we be able to do our projects because a bank won’t redeem the Zim Bond??? Think about it!!1
Member: I am still worried I will miss notifications
Member: Mark has been clear that there is no way we will miss this event. It will be posted here and other dinar-related websites as well as info sent to currency holders.
Member: Great news everyday but no RV. Keeping my expectations super low.
Member: It’s getting harder to stay positive. But I will hang in there. No other choices.
Member: I definitely wish this movie would end. I sure hope we don’t have to rewatch it.
Member: This is not a movie, it’s a War, spiritual and information!
MZ: We are all ready for this to finish. But you are right…It’s a war.
Member: ahhhhhhhgain you know what the monkey said when he got his tail cutoff …won’t be long now
Member: Everyone, I know it’s so hard remaining positive after so long but we are blessed. Have a great day.
Member: When we least it expect it- It will appear-SUDDENLY!
Andy Schectman from Miles Franklin joins the stream today. Listen to replay for his information and opinions
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
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
The Zimbabwe Bond Notes (You Hold) could not be paid out in any form prior to this announcement.
A Bond is a Promissory Note issued by a government and can legally not be refused.
Look at the writing on the Zim-Notes you hold.
What does it say?
"I promise to pay bearer on demand".
Do you understand the gravity of this statement?
Do you understand how rich in natural resources Zimbabwe is?
The Royal Bank of Zimbabwe $835,000,082,302,000,000 (13 metric tons of in ground gold estimated to yield $14 billion per annum by RBZ going forward) is the richest in the world.
People, did you know I had a private contract back in 2016 exclusively for Zim-Notes only? I have many of you this already last year.
I even uploaded the process in a condensed format to give people an idea of how it was supposed to go. But that was 10+ years ago. Some of my followers remember that. Because a couple of them were also apart of it.
The amount of unmined Gold in Zimbabwe is astonishing. There is more than enough to back all the millions of printed 2008-2009 Bonds alone. Not even mentioning the other minerals.
People Zimbabwe no longer just had gold backed digital coins. The paper is also being supported by the new gold standard. You now hold very valuable bonds in your possession. Do you know how far ahead you are of those who are oblivious to this?
The government said that Holders of physical gold coins, at their discretion, will be able to exchange or convert, through the banking system… into gold-backed digital tokens,” the Reserve Bank of Zimbabwe said in a statement inviting individual and corporate entities to use the digital currency that can be bought either in Zimbabwean dollars or foreign currency.
Zimbabwe is now in a process to get all the 2008 to 2009 Zim Promissory Notes (Bond) of the streets. This should be done very soon. Remember Iraq is doing the same thing. Everything they are doing in their local economies is to ensure maximums value for their new precious metal based economy.
Hold onto to your Zim-Notes people.
Quote
The General
@GeneralMCNews
·
BREAKING: Zimbabwe's new gold-backed currency has officially entered general circulation today.
Zimbabwe’s ZiG is the World’s Newest Currency to Resolve a Money Crisis
Zimbabwe’s ZiG is the world’s newest currency and its latest attempt to resolve a money crisis
by: FARAI MUTSAKA, Associated Press, Africa Posted: Apr 30, 2024
HARARE, Zimbabwe (AP) — Out with the Zimbabwe dollar, in with the ZiG.
Zimbabwe on Tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins.
It’s the southern African country’s latest attempt to halt a long-running currency crisis underlining its persistent economic troubles. The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency.
Since it was launched electronically on April 5, the ZiG — short for Zimbabwe Gold and backed by the country’s gold reserves — appears to be heading down the same path of mistrust, with some government departments refusing to accept it.
The ZiG is the sixth currency Zimbabwe has used since the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes to date. That set off a chaotic series of events: first the U.S. dollar was allowed as legal tender, then banned, then unbanned.
A new “bond note” became legal tender, the Zimbabwe dollar was reintroduced before the gold coins and digital currency were tried.
However, nothing brought any currency stability and the U.S. dollar remains the most trusted for ordinary Zimbabweans.
As the shiny new ZiG banknotes hit the streets, the mistrust was evident.
Kudzanayi Mande, a vegetable trader at the crowded Mbare market in the capital of Harare, said she would rather forgo a sale than accept the ZiG. She was confused, the 56-year-old said.
“Already there is an official exchange rate and a depreciated black market rate, so I will wait a bit to see what its real value is,” she said. “The U.S. dollar is still a safer bet.”
The government has allowed some businesses, such as gas stations, to refuse to accept the ZiG in favor of U.S. dollars. Some departments, like the office that issues and renews passports, accept only U.S. dollars.
At the same time, other businesses are being ordered to only use the ZiG, and face punishment if they don’t.
“The government prints the money so it should be the first to accept the currency and everyone else will follow,” said Gift Mugano, an economics professor at South Africa’s Durban University of Technology.
“Otherwise it is behaving like someone who feeds on takeaways but wants others to eat the food they cook,” Mugano said. “It becomes suspicious.”
Many in Zimbabwe still remember when a 100 trillion Zimbabwe dollar banknote was printed in 2009 at the height of the hyperinflation to keep up with spiraling prices.
At one point, a loaf of bread cost more than 500 million Zimbabwe dollars. Prices would change from when customers walked into a grocery store to when they lined up to pay at the cash register. Restaurants stopped displaying prices on menus as they would go up over the course of a dinner. People lugged around bags stuffed with banknotes. Savings and pensions became worthless.
Through the ordeals, the greenback remained precious — and highly valued on the black market.
Across Zimbabwe, the U.S. dollar is still widely used, from paying rent and school fees to buying groceries. Many take their local currency earnings to the black market to exchange for dollars since banks don’t give out U.S. dollars. Some people stash their U.S. dollars at home.
The government of President Emmerson Mnangagwa has taken a hard-line approach — dozens of black market currency dealers were arrested and have been in pretrial detention for weeks, accused of trying to undermine the new currency. After the ZiG was introduced electronically, bank accounts of some businesses were frozen, accused by the government of rejecting the new currency.
Authorities say they have faith in the ZiG because it’s backed by the country’s gold reserves. Mnangagwa said in a speech on Monday it was a matter of “our national identity and dignity” to trust the ZiG.
Though some hopeful Zimbabweans headed for the banks Tuesday to get their hands on the new currency, many remained skeptical after two decades of turmoil.
An online news outlet published a political cartoon showing a policeman struggling to hold up a collapsing house with the word ZiG on it.
The caption: “World’s first police backed currency.”
