Friday, December 29, 2023
Demands to provide POS devices in public places before citizens are forced to use them, 29 DEC
Demands to provide POS devices in public places before citizens are forced to use them
Shafaq News/ Most markets and fuel filling stations lack POS devices, despite the Council of Ministers’ directives to implement the electronic payment system in state institutions, the private sector, commercial centers, stores, markets, and other entertainment facilities.
Citizens still lack the provision of POS devices, and there are demands from the Central Bank, banks, and electronic payment companies to provide POS points of sale and make them accessible to citizens for use with electronic cards when shopping and paying instead of cash.
Fuel filling stations are also suffering from the lack of POS machines at the stations, and citizens are confused about payment, especially with the Ministry of Oil’s calls for early next year to abandon cash and adopt electronic payment at filling stations.
Economic expert Durgham Muhammad Ali said, in an interview with Shafaq News Agency, that “there must be media campaigns to raise awareness about the benefit of the electronic card, the mechanism for obtaining it, and its cost, and dealing with it must be voluntary in the beginning, so that later there will be an understanding of its importance and advantages, and that it may spread and be obtained.” A goal for the citizen, not an obligation on him.”
He stated that “electronic payment has more advantages and security than cash dealing,” noting that “filling and withdrawing devices for these cards must be deployed in various markets, stores, and economic events. Therefore, withdrawal devices must be deployed in the streets and markets before they begin to impose them forcibly.”
shafaq.com
"RV UPDATE" BY MARKZ, 29 DEC
MarkZ
[via PDK] Question: What does you gut say Mark? MarkZ: My gut feels it will be at the bridge of 2023 to the first of January.
[via PDK] “Iraq’s ports emerge as key transit points amidst international shipping route changes” With the unrest in the Red Sea…they have found alternative paths through Iraq using ports, rails and trucks. I think this one is big and solidifies Iraqs position in the international world. They are also shoring up their financial world and Iraq’s position as a trade hub. They are going to need a currency to go with it…especially once the de-dollarize. Question: What does your gut say? MarkZ: That we may be in the last week or the last days of this thing.
[via PDK] Comment: Exchanges should not be taxed…but, be prepared. MarkZ: That’s the way I look at it... memo from the US State Dept. directly about Iraq...The last sentence says “ There are no taxes or subsidies on purchases or sales of foreign exchange.” [NOTE: Always consult with your tax professional at the appropriate time to determine the right tax for your unique circumstances.]
Pretty quiet from Iraq so far today. One of my sources believe the local elections had some effect on our timing and are finishing the ballot counting before they release rates. If hes accurate…the counting should be finished in the next day or so, Possibly as early as today. I have one source in Iraq who believes they will release the rate in Iraq as soon as they finish seating these new electees. Possibly in a day or so or as early as today.
So far this morning - very quiet…no real changes since last night. There is nothing negative…Just no news saying anyone is spending any money yet this morning. Maybe we will get more news throughout the day today.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-markz24-dec.html
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-markz-27-dec.html
State of law: The election of the Speaker of Parliament will be decided in the first session, 28 DEC
State of law: The election of the Speaker of Parliament will be decided in the first session
Information / Baghdad..
The representative of the State of Law coalition, Bahaa al-Din al-Nouri, confirmed on Thursday that the election of the new speaker of parliament will take place during the first session of the next legislative term on the ninth of January, indicating that there is no agreement to hold an extraordinary session before the start of the legislative term to provide the Sunni forces with the last opportunity. Agreeing on one or more candidates for the position.
Al-Nouri said in a statement to Al-Maalouma, “The political forces are still reaching understandings regarding choosing a candidate for the position of Speaker of the House of Representatives, and the dispute still exists between those forces.”
He added, “The political forces will not embarrass the Sunnis by collecting signatures to hold an extraordinary session before the start of the next legislative term in order to give them another opportunity to conduct negotiations to choose one or more candidates for the position.”
He explained that “the Constitution and the internal regulations of the House of Representatives require the political forces to choose the Speaker of the House of Representatives in the first session after the expiration of the membership of the former president dismissed on fraud charges.”
Al-Nouri pointed out that “the selection of the Speaker of the House of Representatives will take place during the first session of the House on the ninth of next month.”
almaalomah.me
"RV UPDATE" BY NADER FROM MID EAST, 29 DEC
Nader From The Mid East
I don't believe in redemption center. I don't believe in that. I believe in banks and exchange offices. I don't believe in redemption centers.
I'm waiting for the first week of January to see what's happening. The 1st of January they will make a decision. They will make a lot of decision next.
I'm not saying the rate is going to change the 1st of January but things going to be stronger, a lot stronger. Once they start using the dinar they're going to be a lot stronger...
Article quote: "Salih the financial advisor to the Prime Minister confirmed that the dollar exchange rates in the parallel market began to approach the official price set at 1320 per dollar after recent measures taken by the central bank and the Iraqi government..."
That's what's slowing down all this process. It's people still using the dollar in Iraq. Even me, I use the dollar in Iraq. When I was there last week I use a dollar in Iraq. Why? Because it's a lot easier. It's smaller. You don't carry a lot. You carry $500, $600, $700 with you, $1000 max...If I didn't have the dollar and If the dinar for me to carry...it would be a lot in my pockets..
The facts are the facts. If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar. That's it. Why? Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets. I'm not going to do that. I prefer to have $100 than 150,000.
Everybody's asking me what's going on. What's the news. The news, you will see it on the 1st of January - what exactly is going on. They already gave you a date. I told you the 1st of January we'll be out of the dollar. We will not work with the dollar anymore in Iraq.
MAJEED: " Dec 1 Bonds will be live and can’t be auctioned without the new rate …Impossible " , 27 NOV
MAJEED Dec 1 Bonds will be live and can’t be auctioned without the new rate …Impossible IQD has no value imagine them reducing 2% interest...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...