Vietnam's Digital Payments Landscape: A Look at the Emerging Trends FROM SEEDS OF WISDOM TELEGRAM ROOM, 5 JULY

 Vietnam's Digital Payments Landscape: A Look at the Emerging Trends

Vietnam's digital payment ecosystem is undergoing a remarkable transformation, driven by a tech-savvy population, government initiatives, and innovative financial solutions. Over the past decade, the country has seen a surge in digital payment adoption, making cashless transactions a way of life for millions of Vietnamese people.

Vietnam's digital payment revolution is marked by a shift away from cash transactions toward convenient, secure, and efficient digital payment methods. E-wallets, QR code payments, contactless cards, and innovative fintech solutions have played a pivotal role in reshaping the country's payments landscape.

Read more:  FinExtra

~

BRICS and XRP

"In its foundational documents, including summit declarations and joint communiqués, BRICS emphasizes key principles like respect for sovereignty, non-interference in the internal affairs of member states, and a commitment to a multipolar world. These documents typically revolve around topics such as trade, investment, technology, and sustainable development."

BRICS and XRPL: A Surprising Convergence
"Surprisingly, within the realm of these documents, a unique convergence with blockchain technology, particularly Ripple’s XRPL, becomes apparent. The mention of XRPL within BRICS documents reflects an acknowledgment of the potential of blockchain technology to reshape the global financial landscape. This recognition indicates that the member nations of BRICS perceive blockchain as a strategic enabler for enhancing financial systems, fostering transparency, and promoting efficient cross-border transactions."

"Ripple’s XRP Ledger (XRPL)  stands out in the blockchain space due to its focus on facilitating real-time, cross-border transactions with minimal fees. Unlike traditional financial systems, which can be slow, costly, and subject to intermediaries, XRPL’s decentralized nature allows for seamless peer-to-peer transactions, enabling faster remittances and lower fees. So, the integration of XRPL technology could potentially streamline trade and investment between BRICS member states, promoting economic growth and collaboration."

© Newshounds News™

Read more:  All Coin Buzz

IRAQI DINAR ✅ HUGE ANNOUNCEMENT | IRAQI DINAR NEWS TODAY | IRAQI DINAR L...

Iran, Turkmenistan sign agreement to supply Iraq with gas

 The official Iranian media reported on Thursday that, following extensive discussions, an agreement regulating the exchange of gas between Iran and Turkmenistan was signed.

On Wednesday, Iran and Turkmenistan signed a contract to exchange gas for Iraqi use.

The Iranian Diplomat to Turkmenistan, Ali Mojtaba Roozbahani, and the Director of the public gas organization of Turkmenistan (Turkmengaz), Maksat Babayev, went to a service held to sign the agreement.

A joint assertion gave by the two sides referenced that Turkmenistan and Iran have been working for a really long time to foster collaboration in the gas area in light of shared interests.

The assertion outlined that the valuable experience of participation in gas trades from Turkmenistan to Iran and afterward to a third nation gave a strong stage to expanding the extent of reciprocal collaboration around here.

WHAT IS A TIER ONE BANK? BY GOLDILOCKS, 5 JULY

 GOLDILOCKS

WHAT IS A TIER ONE BANK?

"Banking regulations known as the Basel Accords require banks to have different types of capital on hand. These liquid and cash assets balance out the risk-weighted assets that banks hold. This increases banks' stability, which increases the stability of the overall financial system. "

"Tier 1 capital is the primary funding source of the bank. Typically, it holds nearly all of the bank's accumulated funds. These funds are generated specifically to support banks when losses are absorbed so that regular business functions do not have to be shut down.  Under Basel III, the minimum tier 1 capital ratio is 10.5%."

"What Do the Basel Accords Do?"

"The Basel Accords are international banking regulations that ensure banks have enough capital on hand both to meet their obligations and absorb any unexpected losses. They are set by the Basel Committee on Bank Supervision (BCBS)."

© Newshounds News™

Read more:  Investopedia
~~~~~~~~~

FRANK26….7-4-24…….IT’S AN RI

"IT'S NOT IMPORTANT BECAUSE WE HAVE A NEW EXCHANGE RATE" BY FRANK26

 KTFA

FRANK26:"IT'S NOT IMPORTANT BECAUSE WE HAVE A NEW EXCHANGE RATE"...........F26

Despite the rise in the dollar, Saleh: The parallel market today is not important

7/3/2024

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed the stability of the dollar exchange rate against the dinar, despite its significant rise today, reaching 1,500 dinars.

 

Saleh told Al Furat News Agency, "The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued." He added,
"In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar."

He pointed out that "it is a stable trend for the exchange rate and the stable external value of the dinar revolves around it, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed 3%."
Saleh continued, "Based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market. Stressing that after the decline of the dollarization phenomenon in internal transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition."
He stressed that "the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets and at a rate of 10% of the total supply and demand transactions for the currency."
He stressed that "the stability of the exchange rate of the dinar to the dollar that the country is witnessing even in the secondary markets above is a real and solid stability, and is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing inflationary expectations that were caused by the parallel exchange market forces during the past years."
He noted that "the irregular secondary market, due to the freedom of external transfer, is affected by the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."

Raghad

 

LINK

"ABOUT THE IRAQ'S ACCESSION TO THE WTO" FROM JAMES MENDEZ FACEBOOK PAGE (ENGLISH AND SPANISH), 5 JULY

JAMES MENDEZ: TOOOMMMAAAAAAAAAAAA!!!!!

FROM THE WTO WEBSITE:

During the visit to Baghdad, the President was informed that initial market access offers for Iraqi goods and services would be distributed soon, in preparation for the third meeting of the Working Group in mid-2024.

The Ministry of Commerce team “will take real steps that will shorten the path to Iraq's accession to the World Trade Organization and ultimately benefit from the advantages that this accession offers,” Minister Al Ghurairi said.

THU

JUL 18 10:00

Iraq Accession Working Group

---

TRANSLATION SPANISH: 

JAMES MENDEZ: TOOOMMMAAAAAAAAAAA!!!!!

DEL SITIO WEB DE LA OMC:

Durante la visita a Bagdad, se informó al Presidente que las ofertas iniciales de acceso al mercado de bienes y servicios del Iraq se distribuirían pronto, en preparación para la celebración de la tercera reunión del Grupo de Trabajo a mediados de 2024.

El equipo del Ministerio de Comercio “adoptará medidas reales que acortarán el camino hacia la adhesión de Irak a la Organización Mundial del Comercio y, en última instancia, se beneficiarán de las ventajas que ofrece esta adhesión”, indicó el Ministro Al Ghurairi.

JUE

18 JUL 10:00

Grupo de Trabajo sobre la Adhesión de Irak

LINK