Iraqi Dinar🔥Shocking Reality About Iraqi Dinar Exchange Rates Today 2024...

Oil: The Volume Of Fuel Sales Via Electronic Payment Has Increased To 13 Billion Per Day, 20 JAN

 Oil: The Volume Of Fuel Sales Via Electronic Payment Has Increased To 13 Billion Per Day

 Economy    Baghdad - INA - Amna Al-Salami  The Petroleum Products Distribution Company in the Ministry of Oil announced today, Thursday, that the volume of product sales through the electronic payment system has increased to 13 billion per day, while setting the date for the final cancellation of cash trading.

 The company’s general manager, Hussein Talib, told the Iraqi News Agency (INA):

“The movement of selling petroleum products through electronic payment has risen to 13 billion dinars per day after it was ranging between 10-11 billion, whether at government and private gas stations or preparing generators.” And agents for gasoline, kerosene, gas, and mobile phones,” pointing out that

 “the demand for electronic payment is increasing dramatically daily.” 

He added,  "Our company obligated the electronic payment gateways to nominate employees authorized by these companies to collect money from citizens through electronic payment." 

He pointed out that  “the directives of Prime Minister Muhammad Shiaa Al-Sudani set next June of 2024 as the date for ending cash trading and adopting the electronic payment card,” stressing that “the company has a plan to end cash trading at the end of next March, that is, in the first quarter.” From 2024.” 

He explained, "Adopting electronic payment and ending cash circulation will serve citizens, ensure that fuel is sold to them at the official price, and preserve state funds from theft and manipulation." 

He stated, "Iraq is very late in the issue of electronic payment, as the countries of the world preceded it for a long time in the field of technology and electronic payment.

Therefore, the Prime Minister insists on ending cash circulation and adopting the electronic payment system in 2024."

The Petroleum Products Distribution Company introduced the electronic payment service at gas stations since April 2023, and began gradually spreading the experiment to fuel filling stations in Baghdad and the governorates.   https://www.ina.iq/201438--13-.html

"RV UPDATE" BY GOLDILOCKS, 20 JAN

Goldilocks and Seeds of Wisdom

After all the announcements and news of today, Goldilocks writes the following:

Most people on this venture do not realize what’s really going on at this point. Did you know you are sitting on a gold mine?   Every currency that you hold from around the world is about to be turned into gold and holds a value at a fixed rate.

Watch what happens this month as certain transitional events will begin the process of turning everything that has an asset value to one that is based on its worth in gold.

* January 10th spot Bitcoin ETF
* January 16th Basel 3 final rule implementation
* Protocol 20 begins the process of tokenized assets joining networks from around the world in three phases

Literally, everything is about to be worth its weight in gold.

© Goldilocks

~~~~~~~~~~

The Treasury Bond Yield Curve is an important indicator for long-term trend signals on the markets.

Long-term Bond Yields have forced investors to look towards short-term Treasury Bonds for short-term gains since 2022 i.e. 2-year yields .

Short-term Treasury Bonds are considered safe until recently. Currently, short-term bonds are looking as though they are saturated.

This signal shows a shift in the macro environment. It tells us there is a formulation of new trends for long-term investments in gold and other commodities over the dollar and the bonds that support it.

These new market trends are shifting the dominance of the dollar in trade towards other currencies backed by real values such as gold.

Seeking Alpha Link

© Goldilocks

Insider Insights Iraqi Dinar Valuation Revealed by Contracting Sources!

Electronic Payment In Iraq Is Moving Towards Stability, 20 JAN

 Electronic Payment In Iraq Is Moving Towards Stability

 January 17, 2024     Last updated: January 17, 2024  Independent/- The Central Bank of Iraq revealed that it is addressing the problems facing the electronic payment system, in coordination with financial institutions, indicating at the same time that the system is moving towards stability.

Director General of the Information Technology and Payments Department at the bank, Adnan Asaad, said that the year

2023 witnessed the most important breakthrough in the field of electronic payment, and that the

Iraqi government seriously supports the efforts being made in detailing the development of electronic payment.

Asaad stressed that  the crisis that befell the country due to the bad use of cards and electronic payment tools had left a negative impact,

but thanks to the measures taken in cooperation with international financial institutions, many problems have been addressed and the electronic payment system has tended to stability.

For his part, Member of Parliament Hussein Arab  stressed the inevitability of activating the role of the private sector and making it a basis for the process of economic advancement, which requires the presence of advanced financial services that rise to global standards.

Arab pointed out that the world has come a long way in digital transformation, and

we must keep pace with the developments the world is witnessing in this important field.

As for the Executive Director of the Association of Private Banks in Iraq, Ali Tariq, he

stressed the continuation of efforts to enhance the culture of electronic payment, which represents a governmental and legislative direction for the next stage. Tariq pointed out that

the Association of Banks and Large Financial Institutions is working to spread the culture of electronic payment due to its awareness of the importance of digital transformation and providing quality services to all segments of society.

Ahmed Kazim, Investment Director at the International Smart Card Company,

explained the importance of digital transformation and that it should be coupled with the launch of advanced electronic payment products that maintain money paths with high transparency. Kazem stressed that

government support for the digital transformation process facilitates many operations and makes services rise to global standards in providing advanced products that suit the growing Iraqi labor market.

The founder of the (Electronic Payment Culture in Iraq) platform, Nabil Al-Najjar, stressed that Iraq cannot move away from the global financial system, especially since

it is an important axis in the global economic arena, which requires us to work to keep pace with the global developments that the world is witnessing in the financial sector, which represents the axis. Most important in the process of economic development.

Al-Najjar stressed that the country is moving in the right direction in the field of digital transformation, and

the most important thing in this axis is the citizen’s interaction with electronic services, the spread of which is expanding in an acceptable manner.

Prospects of electronic payment in Iraq

Statements by Iraqi officials indicate that the electronic payment system in Iraq is moving towards stability, and that

there are great efforts being made by the government and the private sector to enhance the culture of electronic payment and spread it among citizens.

There are several factors that support the growth of electronic payment in Iraq, including:

    Government support for the process, as the Iraqi government considers electronic payment to be one of the basic pillars of digital transformation and improving financial services.

    The growth of the business sector in Iraq, as the Iraqi economy is witnessing steady growth, which leads to an increase in the volume of financial transactions.

    The spread of the use of smart phones in Iraq, where more than 60% of Iraqis own smart phones, which facilitates the use of electronic payment applications.

Electronic payment in Iraq is expected to witness significant growth in the coming years, as the volume of electronic transactions in Iraq is expected to reach $10 billion by 2025.

There are several challenges facing the growth of electronic payment in Iraq, including:

    Weak financial culture among citizens, as many Iraqis still prefer to use cash payment.

    Weak communications infrastructure in some areas in Iraq, which limits the spread of the use of the Internet and electronic applications.

The Iraqi government and the private sector are working to confront these challenges by launching awareness campaigns to enhance financial culture among citizens and improve communications infrastructure throughout the country. https://mustaqila.com/الدفع-الإلكتروني-في-العراق-يتجه-نحو-ال/

"IRAQ WON THE POSITION OF DIRECTOR GENERAL OF THE ARAB WORLD INSTITUTE IN PARIS" BY MARKZ, 20 JAN

 MarkZ 

  [via PDK]  

 “Iraq won the position of Director General of the Arab World Institute in Paris”  This means they are on the world stage. What is going to be necessary for this? Full membership in the WTO and a new rate. That would make sense. Yesterday was a great news day from Iraq where they are openly talking about changing their value and a rate competing with the US dollar.

 “Iraq and the IMF are discussing cooperation and start meetings soon to support a reform program” 

 They would not be having these meetings on Iraq on the world stage unless they were ascending to the WTO and about to have a valuation change. And that is certainly what we are hearing from contractors and government officials inside Iraq.

 We just don’t know the exact time…but know they are prepared. And they told us via an article...that they are getting ready to peg their currency to a basket of currencies from the region to increase the value of the dinar to compete with the US dollar. 

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