Former MP: Passing the oil and gas law depends on the nature of the large bloc agreements
Information/Baghdad… Former member of the Parliamentary Oil and Energy Committee, Ghaleb Muhammad, confirmed today, Friday, that passing the oil and gas law requires consensus among the large blocs that have a majority within the House of Representatives, otherwise the law will remain in the corridors of the House like the rest of the laws that have been stalled for years.
Muhammad said in a statement to Al-Maalouma, “Passing the oil and gas law depends on the movements of the large political blocs that have a majority in the House of Representatives, since Parliament is responsible for approving laws.”
He added, “If the political blocs agree to pass the aforementioned law, they will go to Parliament and vote on it. If they do not agree, it will remain in the corridors of the Council for years, like previous laws.” He stated that “the House of Representatives in its current session does not have the ability and will to solve the problem related to the oil and gas law in order to pass and legislate it within Parliament, as the matter depends on the large political blocs and the nature of their agreements on the law.”
Member: Good morning Mark. Any word on any Whales being paid or on any NDA's???
MZ: I am hearing a ton about it but have not been able to verify anything. I have talked to a number of them and they have great expectations and are expecting payments very soon. They have been told they will have a “iron clad NDA”
MZ: I think that is their way of saying “when I can’t say anything” that this means they have funds and NDA’s signed. But, they are still talking right now. I know this disagrees with some gurus on the boards. But these are the facts I have from people involved.
Member: Are you under an NDA Mark?
MZ: From years ago –I signed an NDA for one transaction that has not happened yet. I have a skr (safe keeping receipt) and I cannot talk about the specifics. And I have not received any funds from it. I have not signed anything recently.
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
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.
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.
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.
