The National Payments Council reviews countries’ experiences in electronic payment systems
On Saturday, Ali Mohsen Al-Alaq, the Governor of the Central Bank, chaired the inaugural meeting of the Iraqi National Payments Council. The Council reviewed the experiences of other countries in this field.
A statement from the Central Bank revealed that Ali Mohsen Al-Alaq, the Governor of the Central Bank of Iraq, chaired the first meeting of the Iraqi National Payments Council. The meeting was attended by officials from the Central Bank, representatives of relevant ministries, government and private banking sectors, and payment service providers. During the meeting, the objectives of the Council and its main tasks were discussed, which include implementing national strategies to develop the infrastructure of the financial and banking sector, advancing the components of the electronic payment environment, and strengthening the pillars of financial inclusion in Iraq.
During the council meeting, it was discussed how other countries have implemented payment systems and the necessary mechanisms to implement the Iraqi Council of Ministers’ decisions No. 23044 and 23620 for the year 2023. Proposals were also made to expand the scope of Iraqi electronic payment systems and connect them with various ministries and agencies, with the aim of encouraging the public to use them and benefit from the advantages they provide.
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
MZ: We visit with the CBD Guru’s for the first 45 minutes and then have a back to basics for new people.
MZ: The group chatter has been amazing as they are waiting for release of funds…There is a lot of rumors out there that SKR’s have started delivering but I cannot find anybody that has had their SKR paid yet.
MZ: So for me that is a rumor and not factual….I can find bunches of people that have SKR’s and have not seen money yet though. So evidence is pointing towards they do not have dollars yet.
Member: Maybe they have NDA’s and cannot tell you?
MZ: But I can tell you that groups are sitting at the edge of their seats. More groups confirm they have funding and just waiting for permission to release it. We don’t know what that means timing wise.
MZ: Redemption contacts who are “on call” have not been called in….yet. But we are stinking, painfully close…..
MZ: Story from Matt at CBD Gurus: Matt used to drive a limousine and you usually strike up a conversation (good for tips) ….Anyway he picks someone up from the Federal Reserve in Minneapolis to go to the airport. This gentleman was not carrying bags……. Matt asked if he was in town for business?
MZ: He said he was at a meeting with the Federal Reserve and talked about the new system ….a new “worldwide system” that they are going to implement. The goal for this was 2023. They talked about the systems…financial and government that has been around for many years and how it was time for a change. They are working on it and the goal was 2023. He was told this in the year 1995. 28 years they have been working on this…..or more. Isn’t that interesting. How long this battle for a new system has been going on.
Member: Fiat is the new “F Word!”
Member: I wonder when are the banks going tell us about if they have the QFS system?
Member: My bank is not available from tonight until 7am Monday for update on new system is what they said.
Member: Iraq is posting there will be a 3 or 4 day work disruption and a holiday on Dec 10th
MZ: Yes a holiday on the 10th and for some reason they are going to close a couple extra days.
Member: TNT actually said: "we should see it by Monday but today some of our 3 letter agencies say its over its done - have completed it all - the whole world will see it no later than Monday morning.
Member: TNT Tony quote: The US has passed on the release of the rv to the international monetary fund (IMF). IMF is in complete control of when the RV comes out. All preparations for the RV are done.
Member: Are we still waiting for a “Scare event” to let everything go?
MZ: We keep hearing there is going to be a great scare event. I don’t know if a scare event is necessary at this point. How much more scared does the world need to get?
Member: I think the scare event will be the collapse of the fiat Dollar itself
Member: financial scare event not being able to access your money possibly?
Member: Having all the banks collapse and your bank accounts go to zero will freak the h*ll out of everyone
Member: Think we've had a lot of scare events
Member: Scare Event rumors is the scare event.?
Member: We are living in a scare event!!!
Member: Scare event is the checkout at the grocery store!!
Member: I think we can kiss the Petrodollar good bye!!
MZ: Kiss fiat good-bye….kiss commodities backed money hello…..If we follow historic precedence…..(which we rarely divert form much) we will have a reset and things will be great for awhile. Maybe 20, 30 or 50 years…..then they will start down the fiat road again. It is a wash, rinse, repeat . But we are in a unique position to take advantage of this.
Member: Is there a difference between good guys and bad guys at this point…Black hats and white hats? ?
MZ: I am trying to find one.
Member: We are ALL tired and in need of relief , a jubilee and a Vacation! They need to end this
Member: Remember Saturday Nights are when all the banks worldwide are closed for a brief time…..Maybe this is the night they actually change the rates.???
Member: Everyone enjoy your weekend……God Bless.
Mark does a short Q&A for newbys toward the end . Please listen to the replay for that information
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
Iraqi PM asserts sovereignty and security commitments in call with U.S. Secretary of State
Shafaq News/ Iraqi Prime Minister Muhammad Shia al-Sudani conveyed Iraq's staunch rejection of any attacks on its territory.
In a phone call on Saturday with the U.S. Secretary of State Anthony Blinken, Al-Sudani emphasized that the recent attack on the "Jurf al-Nasr area" constituted a "violation of Iraqi sovereignty." Concurrently, the Prime Minister reiterated Iraq's unwavering commitment to protecting international coalition advisors currently stationed in the country.
On November 22, American drones launched strikes targeting the headquarters of the Popular Mobilization Forces, specifically the Hezbollah Brigades, situated in the Al-Saeedat area within Jurf Al-Sakhar, resulting in casualties,
A statement by Al-Sudani's media office detailed the key points discussed during the call. Prime Minister al-Sudani emphasized Iraq's commitment to safeguarding its borders and sovereignty against aggression.
Moreover, the leaders discussed the developments unfolding in the occupied Palestinian territories. Prime Minister al-Sudani outlined Iraq's proactive efforts to mitigate the repercussions of repeated attacks on the Gaza Strip. The focus was on stabilizing the truce, ceasing aggression, and ensuring that the conflict did not escalate to pose a tangible threat to regional security and stability.
Iraq officially announced that it will end the dollar crisis before the end of 2023. What does this mean?
1. Increase the official exchange rate of the dinar against the US dollar to reduce pressure on foreign exchange reserves?
2. Policy changes to encourage the use of the dinar instead of the dollar in domestic trade and transactions to alleviate pressure on dollar demand?
3. Removal of shifting restrictions and caps that have created imbalances and a black market?
4. Reopen currency auctions that provide access to dollar reserves to stabilize exchange rates?
5. New measures to control inflation and monetary speculation amid economic uncertainty?
6. Efforts to back more domestic bank balances and liabilities with reserves as collateral? It could be all of the above. Because? Because they also announced that they will resolve the HCL next week. Which implies that they have a new exchange rate ready for international markets. Can we see a refund before JANUARY 1, 2024.
Of course, since the implementation of the LHC requires them to disburse equitable payments between the regions and they must know what is the new value stipulated by constitutional law for citizens in general. Which is also part of the agreement between the United States and Iraq according to which the United States must withdraw all its troops earlier.
That's probably why Iraq announced the closure of American embassies. We are on the brink of a once-in-a-lifetime opportunity that will never happen again. So if you have IQD, consider yourself lucky.
Ariel
TRANSLATION IN SPANISH:
De Hernán Robert Hbravo
Jueves 30 Noviembre 2023
Ariel : Dice
Actualización sobre Irak:
Irak anunció oficialmente que pondrá fin a la crisis del dólar antes de finales de 2023. ¿Qué significa esto?
1. ¿Aumentar el tipo de cambio oficial del dinar frente al dólar estadounidense para reducir la presión sobre las reservas de divisas?
2. ¿Cambios de política para fomentar el uso del dinar en lugar del dólar en transacciones y comercio internos para aliviar la presión sobre la demanda de dólares?
3. ¿Eliminación de las restricciones y topes cambiarios que han creado desequilibrios y un mercado negro?
4. ¿Reabrir subastas de divisas que brinden acceso a reservas en dólares para estabilizar los cambios?
5. ¿Nuevas medidas para controlar la inflación y la especulación monetaria en medio de la incertidumbre económica?
6. ¿Esfuerzos para respaldar más saldos y pasivos bancarios nacionales con reservas como garantía? Podría ser todo lo anterior. ¿Por qué? Porque también anunciaron que resolverán la HCL la próxima semana. Lo que implica que tienen listo un nuevo tipo de cambio para los mercados internacionales. ¿Podemos ver un reintegro antes del 01 de ENERO 2024.
Por supuesto, dado que la implementación de la LHC requiere que desembolsen pagos equitativos entre las regiones y deben saber cuál es el nuevo valor estipulado por la ley constitucional para los ciudadanos en general. Lo cual también forma parte del acuerdo entre Estados Unidos e Irak según el cual Estados Unidos debe retirar todas sus tropas antes.
Probablemente por eso Irak anunció el cierre de las embajadas estadounidenses. Estamos al borde de una oportunidad única en la vida que nunca volverá a suceder. Entonces, si tienes IQD, considérate afortunado.
PM Al-Sudani: Iraq explores economic partnerships and industrial zones with neighboring countries
Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani announced on Saturday that the government is actively considering establishing economic projects, industrial cities, and free zones through partnerships with neighboring countries.
Al-Sudani highlighted ongoing studies for collaborative initiatives with Iran, Saudi Arabia, Jordan, and Kuwait in his address at the Industrial Partnerships Forum in Basra.
Describing the Development Road Project as groundbreaking, Al-Sudani emphasized that it marks Iraq's first venture into settling industrial cities, commencing from Al-Faw port and extending to the connection point with Turkey.
Addressing the need for economic reform, Prime Minister Al-Sudani stated that "Iraq possesses natural resources capable of meeting local market demands and exporting surplus products." Emphasizing the shift from a mono-economic reliance on oil, he outlined the government's commitment to diversifying the economy by supporting industry, agriculture, tourism, and trade.
Al-Sudani underscored the importance of practical developments, asserting that "Iraq must transform from a consumer market for imports to a self-sustaining, advanced industrial economy." He emphasized the role of industrial sectors in generating job opportunities for the country's youth, acknowledging the challenges posed by unemployment.
For its part, the Iraqi Minister of Industry and Minerals, Khaled Battal Al-Najm, unveiled 90 participation opportunities between government companies and the private sector, totaling approximately $10 million in investment value. These opportunities span diverse sectors, offering a range of possibilities for interested companies.
OPEC Plans Collective Production Cut: Impact and Market Reactions
In a significant development in the global oil market, the Organization of the Petroleum Exporting Countries (OPEC) has reportedly planned a collective production cut. The move, which includes an extension of current policy cuts and a Saudi-led reduction of 1 million barrels per day (mbpd), demonstrates a strong sense of unity among OPEC members, despite minor deviations from agreed quotas.
OPEC’s Planned Production Cut
The comprehensive reduction involves an apparent agreement on a Saudi-led cut of 1 mbpd, along with indications of a further cut of 1 mbpd for the entirety of the first quarter. The OPEC+ producers, including Saudi Arabia and Russia, are set to remove around 2.2 mbpd of oil from the global market in the first quarter of the next year. This total includes a rollover of the current voluntary cuts by these countries, amounting to 1.3 mbpd.
Market Reaction
In reaction to these developments, the bond markets are experiencing a sell-off. Gold prices have seen a decrease and the US dollar has gained strength. The market is reacting with an inflationary impulse, even though the price of oil has only increased by $1. This reaction, however, is relatively small compared to recent market movements.
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Saudi Arabia, one of the biggest oil producers, is leading these voluntary cuts by continuing its 1 million barrels per day reduction. Other members like Iraq, UAE, Kuwait, Kazakhstan, and Algeria have also decided to cut their oil supply, with Russia continuing its 500,000 barrels a day cut. This collective reduction by OPEC signifies a significant attempt to stabilize the volatile oil market and maintain oil price stability.