Wednesday, February 14, 2024
Specialists Urge Directing Loans To Increase Domestic Product, 14 FEB
Specialists Urge Directing Loans To Increase Domestic Product
Economical 02/13/2024 Baghdad: Haider Falih Al-Rubaie Specialists in economic affairs urged the necessity of seeking to direct the loans and credit facilities granted by banks to the private sector, towards activating and increasing production processes,
indicating that these facilities exceeded 50 trillion dinars last year 2023,
but they did not contribute to increasing output rates. GDP, stressing at the same time the importance of building more bridges of trust between investors, businessmen and companies with government and private banks with the aim of facilitating the granting of loans directed towards increasing local production.
Unofficial statistics, reported by the economist, Manar Al-Obaidi, showed that
“the credit facilities provided by the banking sector to the private sector exceeded the barrier of 50 trillion Iraqi dinars during the past year 2023, which is the first time that this number of credit facilities provided by the banking sector has been recorded.” "The Iraqi."
Al-Obaidi pointed out that “the value of credit facilities provided to the private sector represents 14 percent of the total Iraqi domestic product,” noting that
“despite the increase in the volume of credit facilities provided to the private sector during 2023 by 11 percent compared to the year 2022, the credit ratio The percentage of GDP is still low compared to the percentage of Arab countries, as the percentage reached, according to the World Bank, about 55 percent of the GDP.”
Al-Obaidi explained, “Cash credit facilities increased by 19 percent compared to 2022, as the credit facilities amounted to 40 trillion Iraqi dinars,
while the pledged facilities provided by the banking sector to the private sector amounted to 12.5 trillion Iraqi dinars,” suggesting at the same time that “the percentage will rise in the coming years.”
As a result of the increase in the value of deposits with banks, which is considered the most important factor for the banking sector’s ability to provide direct credit facilities to the private sector,” indicating that
“increasing the domestic product from non-oil sectors will lead to an increase in demand for credit facilities during the coming years,
which will improve the reality of credit provided to the sector.” private" .
In turn, the economic expert, Dr. Ali Daadoush, said during his speech to “Al-Sabah” that
the first step to the success of the partnership between the two parties is to build confidence between businessmen, merchants and investors from the private sector on the one hand, and with the banks on the other hand. Daadoush stressed,
“In order to empower the private sector, we should move towards activating what he called “moral persuasion” as part of the monetary policy that can be followed with the aim of revitalizing the role of the private sector,
by directing the banks by the Central Bank to work in accordance with supporting the private sector by increasing... Investment credit, that is, supporting local production,” indicating that this step “is capable of achieving a lot if the banks move towards this matter.”
Daadoush pointed out that most of the funds granted to the private sector in the past went to finance imports and were not invested in building a production base for local industries, and thus this matter led to deepening imports and weakening local production further. https://alsabaah.iq/91687-.html
THE BIG CALL HIGHLIGHTS, 14 FEB
Tues. 13 Feb. 2024 Bruce (as reported by Sue), The Big Call The Big Call Universe (ibize.com) 667-770-1866, pin123456#
- Their #1 Iraqi Contact in the US received a text on Tues. 13 Feb. with a picture of a Thumbs Up for Wed. 14 Feb.
- Their Iraqi contact went to exchange in a US Bank on Tues. 13 Feb. where the Wealth Managers were huddled in a meeting. He was told to come back on Wed. 14 Feb. and he could exchange.
- They felt that meant Iraq was going on Wed. 14 Feb. and that Tier4b (us, the Internet Group) notification to set and begin currency and bond redemption appointments could happen on Wed. 14 Feb.
- The Iraqi Dinar was on the Forex and trading last Sun. 11 Feb.
Coffee with MarkZ and Andy Schectman. 02/14/2024
Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations, 14 FEB
Parliamentary Oil Reveals The Reason For The Government’s Move Towards Electronic Payment At Gas Stations
Time: 02/12/2024 16:25:10 Read: 4,888 times {Economic: Al-Furat News} The Parliamentary Oil Committee revealed, today, Monday, the government’s approach to electronic payment at gas stations.
Committee member, Zainab Al-Moussawi, said {to Al-Furat News}:
“We, the coordinating framework, strongly support the government’s economic measures, including moving toward cash payment with electronic cards, since
electronic payments are inherently safer than paper ones, whether on the health and safety side of the transmission of viruses, or on the side of not counterfeiting.” Sukuk.” She explained,
"Bank cards provide double security from any fraud attempt, and the various controls and successive verification processes contribute to making the payment process more secure."
Al-Moussawi added, "In addition, individuals can track all their transactions online, which contributes to increasing financial awareness and improving the management of expenses and the personal budget." She pointed out that"other features of electronic payment
enhance the financial security of individuals, as carrying cash exposes people to theft and loss, while
electronic payment provides an additional layer of protection and encryption for financial transactions."
On January 30, 2024, the Petroleum Products Distribution Company, in cooperation with Rafidain Bank, launched the service of issuing electronic payment cards immediately at gas stations.
The Petroleum Products Directorate of the Ministry of Oil announced the continuation of cash payment at fuel filling stations until next April.
In its regular session, the Council of Ministers approved the following regarding commissions for electronic payment operations:
1. (The recipient bears electronic payment commissions from the private and public sectors, and the payer does not bear any electronic payment commissions), and
the government compensates a percentage (50%) of electronic payment commissions. paid by the holder (the merchant, the employer, and all private sector entities),
provided that it is used to pay the holder’s obligations to the state exclusively through electronic payment, such as renewing licenses, paying taxes, customs, fees, municipal fees, electricity fees, and everything owed to the state, and it cannot be recovered in cash in any case. Conditions.
2. Determine all electronic payment commissions (at a percentage determined by the Central Bank of Iraq), with a maximum commission limit that stops at a commission amount (the value of which is determined by the Central Bank of Iraq for both the public and private sectors) and what exceeds that without commissions, and a minimum that is exempt from commissions as well (Exempting small transactions in the public and private sectors from commissions up to a ceiling determined by the Central Bank of Iraq.
3. The contracts signed based on what was stated in the decisions of the Council of Ministers related to electronic payment, especially the decisions of the Council of Ministers (23044 and 23620 of 2023) etween state institutions and electronic payment companies, will continue to be effective until December 31, 2024, and the contracting institution may submit a reasoned request to the Central Bank of Iraq in If she wishes not to extend the approval process.
4. The decision will be re-evaluated in light of the results of the application before the end of this year 2024.
5. This decision will be implemented starting March 1, 2024.
https://alforatnews.iq/news/النفط-النيابية-تكشف-سبب-التوجه-الحكومي-للدفع-الالكتروني-في-محطات-الوقود
"RV UPDATE: "THINGS ARE MOVING" BY ROD STEEL, 14 FEB
Tues. 13 Feb. Rod Steel: Things are moving.
- It was supposed to have happened on Mon. 12 Feb. (Judy Note: liquidity did begin onMon. 12 Feb. according to Rubem Baz reporting on the Imperial Ancient Chinese Golden Dragon Family which owned the gold backing the Reset).
- Iran revalues same time as Iraq. The Iranian militia have not agreed to the revalue and they keep bombing the US bases in Iraq.
- We got into a pushing match with higher ups in the groups that now want more $$$ (supposed to be good guys but they’re still greedy). That set us back @48 hours.
- They really want this started by Feb. 15th.
- Admirals group started in Reno on Feb. 4th.
- The larger humanitarian groups (up to 3 million in size) are going 1st.
- There’s roughly 12 million currency holders worldwide.
- Some Whales in Spain & South America & other countries are under NDAs already.
- The CBI has sent the new rates to the Iraqi government.
- Med beds are to be available right after the RV – 50,000 just in the US. In 8200 locations cross country. Beds have been in existence since the 50s.
- New quantum system only recognizes gold-backed notes – out since Jan. 25th.
- Restitution payments should begin right after the RV.
- Take everything you have to RV. Over 10,000 RV centers in U.S.
- Something good could happen tonight Tues. 13 Feb.
- https://dinarchronicles.com/2024/02/14/restored-republic-via-a-gcr-update-as-of-fe bruary-14-2024/
MARKZ HIGHLIGHTS ( ENGLISH & SPANISH), 5 MAY
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