Tuesday, January 9, 2024
A dialogue session discussing “electronic payment and its role in the economic future”...these are its details, 9 JAN
A dialogue session discussing “electronic payment and its role in the economic future”...these are its details
The Electronic Payment Culture Platform in Iraq organized a dialogue session regarding electronic payment in the presence of many government and parliamentary figures.
The session, which was chaired by Ali Al-Hilli - Marketing Director at Miswak Company, and speakers, witnessed the presence of Sabah Al-Baghdadi: Vice President of the Iraq Traders Association,
Representative Hussein Arab, Vice Chairman of the Parliamentary Labor and Non-Governmental Organizations Committee.
Adnan Asaad: Director General of the Information Technology and Payments Department at the Central Bank of Iraq, Ali Tariq: Executive Director of the Iraqi Private Banks League IPBL. Ahmed Kazem: Executive Director of Investments at the International Smart Card Company (QiKi).
The dialogue session, which was entitled “Electronic Payment and its Role in Shaping the Economic Future,” addressed the vision of the various sectors regarding electronic payment, where the point of view of Iraqi merchants was presented by Sabah Al-Baghdadi and the most important obstacles they face regarding the use of electronic payment tools, especially the aspect of not standardizing commissions. And the fees are in addition to the challenges that merchants faced during the previous period when using cards outside Iraq and stopping them without prior notice, stressing the need to ensure the stability of the work of electronic payment tools so that they are a safe and stable means for adoption by the merchant segment. Al-Baghdadi also addressed the obstacles of merchants with regard to tracking external transfers, which is considered Its delay and the lack of clarity of the reasons for this are a reason for the merchant segment to be exposed to embarrassment, calling on the Central Bank of Iraq to work to establish mechanisms and direct banks to enable the merchant to track his foreign transfers similar to the developed countries, regional and global.
The dialogue moved to Representative Hussein Arab, Vice Chairman of the Parliamentary Work and Non-Governmental Organizations Committee, “for the purpose of discussing legislation and laws supporting electronic payment, the role of the Iraqi Council of Representatives in issuing legislation to regulate electronic payment and protect the users of these tools, and the importance of the private sector in general and the banking sector and financial institutions in particular in the success of this.” "The important project for the country to leave cash payment."
Adnan Asaad, Director General of the Information Technology and Payments Department at the Central Bank of Iraq, explained, "The importance of the transformation taking place in electronic payment, describing the year 2023 as the year of the great launch in the field of electronic payment, and that the Iraqi government, represented by the Iraqi Prime Minister - Muhammad Shiaa Al-Sudani, is very interested in achieving the best achievements in The field of electronic payment, and that follow-up is continuing by parliamentary and governmental bodies to activate electronic payment in Iraq.”
Adnan Asaad expressed his great optimism in the year 2024, as it will be the year of achieving great achievements in the field of electronic payment, stressing that the crisis that passed through the country in mid-2023, specifically the bad use of cards and electronic payment tools, had left a negative impact, but thanks to the measures that were taken in cooperation with... International financial institutions have addressed many problems and the electronic payment system has stabilized, indicating that the public should know the importance of opening bank accounts and using cards linked to bank accounts more since prepaid cards are intended for limited operations and this is the practice globally, and this was an answer to an inquiry about The issue of restricting the ceilings of prepaid cards, which occurred on the first of December of the previous year.”
Ali Al-Hilli continued the dialogue with Ali Tariq, Executive Director of the Iraqi Private Banks Association, “about the role of the private sector, especially private banks and financial institutions, to support the governmental and legislative approach to spreading electronic payment,” where Ali Tariq emphasized “the great role of financial institutions in this aspect and the role of the Association in supporting financial institutions.” To achieve the goals of spreading the culture of electronic payment, Mr. Ali Tariq stressed the importance of spreading the culture of electronic payment, due to its positive repercussions on the economy. He pointed out that electronic payment indicators are growing well, and there is a high response from the public in using bank cards, but we need greater interaction from Before retailers use POS.
He noted that "the government, the central bank, banks, and electronic payment companies have worked over the past period to develop the infrastructure of the electronic payment sector."
The dialogue session concluded with a talk by Ahmed Kazim, Executive Director of Investments at the International Smart Card Company (Ki), about “the importance of electronic payment and the role of electronic payment companies in promoting this culture and the importance of keeping up with developments in this field to provide high-level services to the public and encourage them to use electronic payment tools,” stressing that the company (Ki) has taken the decision to transfer investment in advertising into loyalty programs and discounts offered to the public and merchants for the purpose of encouraging the digital transformation of payments.” link
"RV UPDATE" BY GOLDILOCKS, 9 JAN
Central banks go for gold in bold move to safeguard dollar
"In a world where economic chess is the game, central banks have made a power play, amassing a record-breaking 374.1 tons of gold in 2023."
In an age whereby local currencies are beginning to be utilized instead of the dollar, the need to support these new currencies that have not been in the game for some time is clearly evident.
With the formation of the BRICS Nations, this Gold Rush will support new currencies that have not been utilized for some time and protect the dollar from being overtaken by these new competitive currencies around the world occupying places of payment the dollar used to dominate.
We are truly living in a world whereby the one true currency is emerging onto the international stage to level the playing field. It is the new anchor for our currencies and financial systems going forward.
All roads lead to gold and gold will set us free. Cryptopolitan Link
© Goldilocks
Parliamentary Foreign Ministry calls for popular action to expel US, 9 JAN
Parliamentary Foreign Ministry calls for popular action to expel US
Information/Baghdad
A member of the Foreign Relations Committee, Karim Al-Muhammadawi, called on Tuesday for popular action, exerting pressure and targeting US forces in order to ensure their expulsion from Iraq, in response to the repeated crimes committed by these forces against the Iraqi people.
Al-Muhammadawi said in a statement to Al-Maalouma that "the continuation of the US presence inside Iraq needs to take all measures to ensure the removal of these forces, through popular and parliamentary pressure and government decision."
He added, "All US military bases must be bombed and be in the crossfire of the Iraqi people, in response to the American disregard for the lives of Iraqis and the continuation of the series of crimes committed by these forces against the people, national symbols and security services."
He pointed out that "the bombing of bases and the exertion of pressure on US forces must be reinforced by massive demonstrations throughout Iraq, to expel these forces and ensure that they do not return to the country again."
"RV UPDATE" BY BREITLING, 9 JAN
Breitling
"What is Iraq waiting for at this point [to RV]?"
No body knows...When [Senator] McCain was around those were the heavy hitters. Those were the guys I would listen to. This was nothing 'official' but these guys knew what was going on, 'you want to be in the dinar.' I have some very good friends who didn't buy it and they talked to McCain and he said you better buy this currency.
According to them, it should have happened by now. I still hang out with the same group and to this day nobody knows why Iraq has not pulled the trigger yet. What's strange is back in the day Iraq didn't talk about it that much, now they talk about it all the time. Whatever the CBI is looking at, it's starting to look like they need to be there.
Question: "Why do the [Iraqi] citizens want to keep using the dinar when the value is so low?"
Not everybody has access to the US dollar for one thing. #2 It's artificially low. A lot of Iraqi's know this. They know what's going on.
There's nothing they can do about it. That's one of the things, if you watch the parliamentary elections of Iraq one of the number one campaign promises all these guys make is we're going to add value to the dinar. They know it's artificially low. [They look around and think] we're selling more energy, the price per barrel is more, we have more customers and yet the dinar is [worthless] and we're all running around in poverty.
Question: "When it does revalue, when do we get out? How long do we wait?"
That depends on your own needs. Are you trying to get a house? Are you trying to pay off a loan? What is it because once you hit that number get out. Or if it doesn't go up to that number - Let's say you're trying to make...$250,000 and you realize the investment is only going to get you about $180,000, then get out! Diversify. Get into something else. Don't just stick around.
The only way you can answer those questions is you have to put a piece of paper down and realistically what is it that you want. You have to be realistic about it.
You can't say the first thing is I'm going to start off with a $50 million dollar mansion. Don't be stupid...Let's be a little more practical. A home over your head, debt free, for you and your family...then you can go for the big stuff. Your investments are based on that...what it is you want.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-breitling-16-dec.html
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