In the week of financial inclusion. Al-Rafidain encourages the use of electronic payment in citizens’ transactions, 3 MAY
Al-Rafidain Bank participated in the activities of the financial inclusion week in the presence of financial and banking institutions.
During the participation of its own booth in commercial centers, gatherings and other places, the bank reviewed its services and products such as opening bank accounts, adopting electronic payment and collection, encouraging the use of electronic cards to reduce cash dealing and introducing the importance of citizens saving their money in the bank instead of hoarding it at home.
In addition to the presence of the specialized team to answer inquiries for citizens with other services. Participation comes with the aim of educating the public about the importance of financial inclusion and the spread of banking culture to the farthest point in the country to include all segments of society.
“According to Anatoly Aksakov, Chairman of the Russian State Duma Financial Market Committee, talks on how the new currency will work have started and an agreement may be reached by the end of this year.”
The plan is for this currency to be supported by gold, various precious metals, and other assets.
The purpose is for the BRICS Nations to be able to trade with one another and no longer have to deal with US sanctions on their currencies.
Mawazine News – Baghdad Deputy Chairman of the Parliamentary Planning Committee, Mohammed Karim, confirmed today, Thursday, that this year’s budget will proceed after completing the changes in its schedules for the allocations of provincial and ministries projects only. “The exchange rate of the dollar, the barrel of oil and the quantity exported will remain the same as confirmed by last year’s budget,” Karim told Mawazine News.
He pointed out that “the tripartite budget approved by the Sudanese government and approved by the House of Representatives allowed the government to make changes and amendments imposed by the impact after the parliament vote.” He pointed out that “changes to the schedules will include the projects of ministries and governorates in accordance with the requirements of the government program.”
🇺🇸💥❤️🇺🇸. Iraq is allowing the dinar to float to close the gap between the official exchange rate and the parallel market rate.💥💥💥Nader today. Good news! 🇺🇸💥❤️🇺🇸
FRANK26: "MONETARY REFORM STEPS ACCOMPLISHED BY THE CBI & CITIZENS".........F26
The Central Bank of Iraq organizes a celebration on the occasion of Financial Inclusion Week
May 02, 2024
The Financial Inclusion Department at the Central Bank of Iraq organized a celebration on the occasion of Financial Inclusion Week in Iraq.
The celebration reviewed the efforts of the Central Bank of Iraq in promoting and achieving the ideal environment for the success of financial inclusion in Iraq, encouraging savings and spreading banking culture.
His Excellency the Governor of the Central Bank, Mr. Ali Mohsen Al-Alaq, confirmed on the sidelines of the celebration that the steps achieved in financial inclusion that were accomplished today are accelerating and can close the gap that occurred during the past years as a result of the circumstances that Iraq went through.
His Excellency stated that the bank has ongoing meetings with the Iraqi government to expand the customer base in electronic payment methods and enhance financial inclusion, as we see a great response from various state institutions in the context of expanding the financial and banking culture in Iraq.
His Excellency believed that the factors that lead to the success and expansion of the role of financial inclusion are the citizen’s confidence in the institutions and tools available to him, as well as his vision of his interest in using them. He continued, that the Central Bank has become at the forefront of global central banks using various financial technologies that provide speed and accuracy, revealing at the same time that the bank has received large preparations to establish digital banks and the relevant departments are working on the possibility of granting them a license to carry out their work in accordance with the controls and instructions issued by the bank. His Excellency noted the “Riyada” Bank project, which will be an important project as we are in the advanced stages of establishing the bank and will constitute a qualitative leap in supporting and financing small and medium enterprises and providing job opportunities for wide segments of society. It will also have branches throughout Iraq. It is noteworthy that the Financial Inclusion Department organized many different events in the capital, Baghdad, and other governorates within the Financial Inclusion Week in Iraq, which began on April 27 and continued until May 2 of the current year.
Central Bank of Iraq Information Office 2 - May - 2024
Advisor to the Prime Minister, Amer Al-Adad, confirmed that Al-Sudani succeeded in digital transfer in banks.
Al-Adad said, in a televised interview followed by Mawazine News, that “the Sudanese government is currently working on developing our proposal to form private “digital banks” that will do the work of government banks, in addition to many proposals to advance the Iraqi banking reality.”
He added, “The “knowledge economy” project developed by the government of Muhammad Shiaa Al-Sudani depends on information technology and cybersecurity, pointing out that government banks have problems in systems, governance, and human resources.”
He pointed out that “the current government is working to train employees on the ASYCUDA system at the ports in order to increase the employees’ expertise and ease of work, stressing that Sudanese has many reforms, including digital transformation in banks.
“His advisor: Al-Sudani succeeded in digital transfer in banks”
This is really good news for our investment. The Iraqi banks are now capable of digital transfers. When Iraq regulates their digital economy after MICA is finished (5-28-24) and Stablecoins become law on June 30th, 2024, we will begin looking toward credit valuation adjustments across the globe.
The difference this time around is that Iraq will be included. We still have to see what that means when we get to Q3. There will be many assets being refactored into the new economy after these dates.
