The Minister of Commerce of the GOI (Government of Iraq) and the CBI (Central Bank of Iraq) have formed a committee to review the prices of
Estate. Eliminate black markets.
Walking Stick has said that when you see the price change, it's time to get excited!
That's upon us now. This is the precursor of the new exchange rate!
Frank26 continues... 3 year budget recalculation/cancellation along with this due to new tariff coming
Today the HCL (Hydrocarbon Laws) are being finalized in Parliament
* Sudan at the grand opening of a refinery.
* CBI on government television saying there are no liquidity problems.
* 92% of all higher denomination dinars have been deposited/traded in preparation for using debit cards and new lower denominations.
* New travel mechanism coming soon ONLY to obtain US Dollars. There are restrictions on US dollars for citizens to use only dinars.
*IQD (Iraqi Dinar) has no restrictions.
* Iraq invests in the petrochemical industry as a leader.
* Al Sudani gave an encouraging speech in which he put economic and banking reforms as one of his top priorities.
* Big dispute in the plenary session of Parliament over the HCL law. You are well prepared to receive the new exchange rate
Frank says don't worry about it.
* All government services will be paid electronically in 2024. It is impossible to have a liquidity problem
* CBI goes from company to company... door to door collecting US dollars to get them off the streets.
* Monetary reform is done first to ensure that economic reforms work.
* The KTFA family comes to Chase and opens their accounts
* Red tape and corruption are being eliminated. Inflation will stop
* A monthly bulletin will be published with prices adjusted to address the floating due to currency changes and factors that affect prices in local markets and the mechanism that will be adopted in calculating prices. That is to say. variable due to the upcoming exchange rate and will be floating as soon as the dollar falls and the three zeros come out.
* Conclusion... Frank26 is excited... You should be too...
Greetings
Hernán Robert Hbravo
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TRANSLATION SPANISH:
Domingo 25 Febrero 2024
Frank26 : Dice
El Ministro de Comercio del GOI (Gobierno de Irak) y el CBI (Banco Central de Irak) han formado un comité para la revisión de los precios de
Bienes. Elimina los mercados negros.
Walking Stick ha dicho que cuando veas la modificación de precios, ¡es hora de emocionarse!
Eso está sobre nosotros ahora. ¡Este es el precursor del nuevo tipo de cambio!
Frank26 continúa... Recálculo/cancelación del presupuesto de 3 años junto con esto debido a la nueva tarifa que viene
Hoy se ultiman en el Parlamento las HCL (Leyes de Hidrocarburos)
* Sudán en gran inauguración de una refinería.
* CBI en la televisión del gobierno diciendo que no hay problemas de liquidez.
* El 92% de todos los dinares de denominación superior se han depositado/negociado en preparación para utilizar tarjetas de débito y nuevas denominaciones inferiores.
* Próximamente nuevo mecanismo para viajes SÓLO para obtener Dólares Estadounidenses. Existen restricciones en dólares estadounidenses para que los ciudadanos utilicen solo dinares.
* IQD (dinar iraquí) no tiene restricciones.
* Irak invierte en la industria petroquímica como líder.
* Al Sudani pronunció un discurso alentador en el que puso las reformas económicas y bancarias como una de sus principales prioridades.
* Gran disputa en el pleno del Parlamento sobre la ley HCL. Está bien preparado para recibir el nuevo tipo de cambio
Frank dice que no te preocupes por eso.
* Todos los servicios gubernamentales se pagarán electrónicamente en 2024. Es imposible tener un problema de liquidez
* CBI va de empresa en empresa... puerta a puerta recogiendo dólares estadounidenses para sacarlos de las calles.
* La reforma monetaria se hace primero para garantizar que las reformas económicas funcionen.
* La familia KTFA llega a Chase y abre sus cuentas
* Se están eliminando los trámites burocráticos y la corrupción. Se detendrá la inflación
* Se publicará un boletín mensual con precios ajustados para atender la flotación por cambios de moneda y factores que afectan los precios en los mercados locales y el mecanismo que se adoptará en el cálculo de precios. Es decir. variable por el tipo de cambio que viene y estará flotando en cuanto el dólar baje y se salgan los tres ceros.
* Conclusión... Frank26 está emocionado... Tú también deberías estarlo...
Prime Minister Mohammed Shia Al-Sudani directed, on Sunday, to take observations and proposals for plans to develop and expand Baghdad International Airport.
The Prime Minister’s Information Office said in a statement received by “Economy News” that “the Sudanese, chaired a meeting that included representatives of the International Finance Corporation (IFC), and the committee concerned with preparing plans for the rehabilitation and expansion of Baghdad International Airport.”
He added that “the Sudanese was briefed on a detailed report on the prepared plans, implementation mechanisms, and a number of observations were made about them and the most important proposals; to overcome some of the problems facing work.”
Al-Sudani, according to the statement, directed “to take the observations and proposals for the plans for the development and expansion of Baghdad International Airport and discuss them thoughtfully to come up with a vision that is consistent with the government’s approach and direction, with regard to Baghdad International Airport being with specifications that comply with approved international standards, and improves its services, and be an important interface worthy of Iraq’s reputation and civilizational status.”
What I am about to upload needs to be read carefully. Because it goes back to a lot of what I explained to you all. One thing you need to understand is that you hold what banks need during the transition period.
And that is a Tier 2 asset called the Iraqi Dinar. The article will explain this to you on a formal basis.
By having a strong Tier 2 capital base, banks can weather financial storms more easily and maintain their ability to lend money and support the economy. That’s where you come in. Your IQD is going to play a pivotal role once it is reinstated on the Forex Market
Iraq will officially connect to corresponding foreign banks on March 1st to improve external balances.
After that will be the next big step and that’s becoming Article 8 Compliant and reinstating the IQD on global trade markets. After you read the article you will understand why banks had the meeting on February 20th for Tier 2 assets.
The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023
Economical 02/25/2024 Baghdad: Hussein Thaghb There is a consensus from the public and private sectors on the necessity of regulating the reality of electronic collection in Iraq after the local market witnessed great interaction using electronic payment and the value of use increased remarkably in 2023 to exceed 9 trillion and 661 billion dinars through financial movements exceeding 15 million transactions.
Participants in the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association with the support of the Prime Minister’s Office and sponsored by the Central Bank of Iraq,
described electronic payment as an important new stage that guarantees the paths of funds and makes them more transparent, but it is not without challenges that can be overcome in cooperation with the Central Bank and specialized companies.
Governor of the Central Bank of Iraq Dr. Ali Al-Alaq said:
The successes achieved in the field of electronic payment stem from the great support given by Prime Minister Muhammad Shiaa Al-Sudani to this important project.
We also value the efforts of the ministries that interacted with this project and gave it priority, pointing out that the launch of electronic collection comes as a translation of the Central Bank’s objectives in Adopting advanced technologies in electronic payment.
Al-Alaq stressed that electronic collection contributes to strengthening government financial resources and operates in a transparent environment in light of the components provided by the Central Bank.
The project targets ministries and non-governmental institutions at the same time, and the citizen can now pay from anywhere and this is for the optimal use of cash.
Director General of Payments at the Central Bank, Adnan Asaad, indicated that the decisions of the Council of Ministers had a positive impact on activating electronic collection, especially in the second half of 2023, pointing out that the total collection from gas stations exceeded 10 billion dinars, and the number is expanding, as is the number of employee cards.
In localization services as of June 2023, it amounted to 8,653,310, and the total electronic collection through electronic payment gateways in the year 2023 exceeded 108 trillion through financial transactions exceeding one million transactions.
Asaad pointed out that the commissions charged to citizens in electronic payments are “zero” and in the public and private sectors, and this issue requires expanding the citizen’s culture, and here is the responsibility of all concerned institutions.
Executive Director of the Association of Private Banks, Ali Tariq, said:
The workshop brought together most of the state institutions and the private sector with a large and qualitative presence that witnessed identifying all the problems facing the ministries in this important project, and working to solve them through coordination with the companies and institutions concerned.
Tariq stressed that the great cooperation shown by the team of the Central Bank of Iraq and specialized companies with the presence of the Association of Banks achieves smooth work and contains all the problems or challenges facing some institutions, pointing out the presence of financial expertise capable of mastering advanced technology and employing it in the correct manner, and that the training carried out in We have begun to see positive results in this aspect,
and we now have a developed work team in Iraq, where the Association has prepared continuous training programs for several years that enable human resources to use advanced technology.
As for the representative of the International Smart Card Company, Ghazi Al-Kanani, he pointed out that the reality of electronic payment has begun to expand significantly, and the citizen has begun to interact greatly with the electronic services that are provided, and this came after the citizen felt the positives provided by this project, pointing out that electronic payment was established with the aim of providing The best services and mechanisms that facilitated his daily life.
He stated that electronic collection will follow the collected funds to their legal destination without tampering, and will enhance the federal budget with large revenues, pointing out that Iraq is facing a new phase that preserves the funds’ paths and takes their destination to the appropriate place.
As for Traffic Major General Adel Al-Araji, he said:
Electronic collection is a new experience and has faced several challenges due to the ramifications of revenues and the lack of educational campaigns.
He pointed out that there are committees in the General Traffic Directorate that supervise electronic payment operations, noting that collection in the Karbala Traffic Directorate reached 100% and in Basra 60%. He emphasized the work to allocate one day each week for electronic payment, as we have platforms that work exclusively on electronic payment.
As for the representative of the Ministry of Oil, Yasser Ammar, he confirmed that the Ministry had circulated the electronic collection experience from the first quarter of 2023.
There were challenges to completing the work, but we worked to overcome them, pointing out that all 350 government stations operate with electronic payment.
As for the representative of the Minister of the Interior, he confirmed that the Minister of the Interior directed the adoption of electronic payment and that collection and collection be electronic from May 1, 2024, pointing out that
there are challenges that are being addressed in cooperation with the concerned authorities, and that the Ministry believes in developing the performance of electronic payment and what rises to global performance. https://alsabaah.iq/92335-.html
