Al-Alaq: The Central Bank is working with the Prime Minister’s direction and the government program to support electronic payment, 11 AUGUST

Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, confirmed today, Saturday, that the Central Bank is working with the Prime Minister's direction and the government program to support electronic payment.

 The Central Bank stated in a statement received by the Iraqi News Agency (INA) that "the Governor of the Central Bank participated in a specialized workshop to accelerate the transition to electronic payment, sponsored by the Prime Minister, and organized by the Osool Foundation for Economic Development and Sustainable Development."

The Governor said during his speech at the workshop - according to the statement - that "the Central Bank of Iraq works side by side with the government program and the Prime Minister's direction to support electronic payment, and we are proud of what we have achieved so far," noting that "in 2023, the amounts processed through the national switchboard witnessed a significant increase, which reflects the development of the infrastructure and the expansion in the use of electronic payment channels and the impact of the campaign launched by the Prime Minister to activate electronic payment operations in general, and in the government sector in particular."

He added that "these upward trends continued to develop in 2024, as the amounts processed in the national switchboard systems amounted to more than (2) trillion Iraqi dinars in July alone, compared to (800) billion dinars in the same month of 2023, after which it became (1) trillion dinars in January of 2024," noting that "government payments witnessed an additional increase, reaching (912) billion Iraqi dinars last July compared to (287) million dinars in the same month of 2023." 

Al-Alaq pointed out that "payment operations at fuel stations in Baghdad alone have increased significantly, recording more than (44) billion dinars in July of this year, compared to (183) million dinars in July 2023, and (4.5) billion dinars in December 2023," revealing "a huge increase in the number of points of sale (POS) to reach more than (50) thousand points of sale this year compared to approximately (11) thousand POS points of sale at the beginning of 2023, and thousands of them in government institutions after they were zero before the launch of the campaign in June 2023."

The governor expressed his "hope that government institutions will adopt the establishment of units specialized in electronic payment technologies to work on following up and developing this important aspect."  link

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RV APPOINTMENT AT MIL BASE, PART. 2, BY GINGER, 11 AUGUST

 PART. 1 : https://dinarevaluation.blogspot.com/2024/08/rv-appointment-at-mil-base-part-1-by.html

✅ Part 2/2 - RV appointment at Mil Base

💢 SweetpeaQ17, Liberty Lounger extraordinaire, who also lives on a mil base, added to the conversation: 

💢Sweetpea: This is excellent info ! I guess I kinda take for granted all of this because we’ve lived on base most all of hubby’s career … still do. But the protocol might really intimidate folks who aren’t used to it. Thanks friend!! … and you are right … Base lockdown is no joke.

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💢Thank you both very much for helping our family learn more of what to expect in the event a military installation is in their near future for redemption appointment. 🙏❤️🙏

~ Gin Gin of the Ginger's Liberty Lounge

DINAR REVALUATION : Iraq's Central Bank Goes Digital: A New Era!

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Oil Equality.. Is Iraq Outside Profit And Loss Calculations?, 11 AUGUST

Oil Equality.. Is Iraq Outside Profit And Loss Calculations?

Money and business  Economy News – Baghdad  Observers have warned of the fluctuations witnessed by the American economy and their repercussions on the global economy, especially on energy markets, but they confirmed at the same time that oil price indicators are still stable despite these fluctuations, and Iraq is outside the calculations of profit and loss in the fluctuations of the oil market, due to its reliance on the rentier economy.

While economic circles around the world were surprised by the sharp fluctuations and declines in the US stock market amid a wave of panic over fears of a possible recession in the world’s largest economy, the US economy, the main financial indicators witnessed a decline, including the Dow Jones Industrial Average of major US industrial companies, by about 1,000 points at once.”

Oil prices fell slightly in early Asian trading on Friday, but were set to post gains of more than 3 percent this week after U.S. jobs data eased demand concerns and continued concerns about a widening conflict in the Middle East.

Brent crude futures were down 9 cents, or 0.11 percent, at $79.07 a barrel by 0030 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 1 cent at $76.09 a barrel.

However, both crudes are on track to post gains of more than 3 percent on a weekly basis.

Gaza and Israel

Israeli forces intensified air strikes on the Gaza Strip on Thursday, killing at least 40 people, Palestinian medics said, as they brace for the possibility of a wider war in the region.

“Crude oil continued to recover from its latest slide as markets focused on escalating geopolitical risks,” said Daniel Hynes, analyst at ANZ.

Libya's National Oil Corporation also provided some support when it declared force majeure at the Sharara oil field, saying the field's production was being gradually reduced due to protests.

Prices rose after data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting that fears of a deteriorating labor market were overblown.

The dollar rose after the jobs data. A stronger dollar typically reduces oil prices because buyers using other currencies have to pay more for dollar-denominated crude.

The financial and economic advisor to the Prime Minister, Mazhar Mohammed Saleh, expected oil prices to recover after a rapid decline in global markets in recent days.

Huge losses

Saleh said, "The drop in oil prices will cause a huge loss in the investments of American oil companies operating in the field of extracting shale oil if global oil prices fall below $70 per barrel, which will cause their operations to falter."

He pointed out that “the US monetary policy is expected to inevitably move towards an expansionary policy to confront the current recession, led by the quantitative easing policy through the possibility of the Federal Reserve reducing interest and stimulating liquidity to confront the challenges of the deterioration of the US economy and provide the necessary protection for financial investors in particular against the collapse of financial markets, including futures markets operating with crude oil contracts.” crossorigin="anonymous">

Saleh explained that “all of these factors will shorten the paths of the oil asset cycle’s decline so that the oil markets can recover, if that cycle occurs and leads to a decline in oil market prices.”

What's behind the rise?

Oil prices rose to $79 a barrel after Brent crude fell to a seven-month low on Monday, tracking a decline in global stock markets.

Futures are set to snap a four-week losing streak, with Libya’s largest field out of action, U.S. inventories falling for a sixth week and Ukrainian incursions into Russia exacerbating the upside.

Meanwhile, jet fuel demand is improving in China, a rare bright spot after months of bearish signals, including data this week that showed the world’s biggest crude importer took in the fewest barrels in almost two years in July. 120 views  2024/08/10 -https://economy-news.net/content.php?id=46121

RV APPOINTMENT AT MIL BASE., PART. 1 , BY GINGER , 11 AUGUST

 💢Important information provided by active duty military.

 ➡️ Topic: IF the Redemption Center you go to is located on a Military Base/Post then this info will be necessary.⬅️✅ Part 1/2

· Am I saying that you WILL be going to a Mil Base for your redemption appointment? NO I Am Not. I said - IF. Some mil installations might be used to host RC due to heightened security. But, yes, you could also very well be going to a major bank's Private Client office. That's also plausible. Now that THAT'S out of the way, please check out Plato's insight IF YOU LIVE somewhat close to a mil installation as this MIGHT APPLY TO YOU. ⬇️ Thank you Plato, Liberty Lounger extraordinaire 😁⬇️

💢 First, Plato explains strange changes he's been observing in his base. This led him to believe something is up and to pay attention to base activity! 👀

💢Plato: Take this with a massive grain of salt. I've been at my current base for almost 10 yrs. I was given the full we don’t-know-you-search today. (My car has been searched twice in 10 yrs.) 

That could mean they are gearing up to bring in outsiders. I will provide instructions today. This is the procedure to get into a base when it is locked down tight (FPCON D). They are training and getting proficient to ensure there will be no issues. 💥👀💥

💢As promised, hours later on 11.17.23, Plato delivered: ⬇️

💢Plato: Instructions for military base access IF you have to go to a base for an RV appointment. ⬇️

1) Ask for access procedures before you end the call with the appointment scheduler. Write them down and repeat them back. Ask if you don’t understand something.

2) Base directions: military bases are situated in out of the way locations for a reason. Get turn by turn directions to get to the base. Know which gate you need to use (they are named) and ask how you will be directed once on base (GPS navigation doesn’t work on many military bases).

After you hang up, breathe cuz this is really happening.

Documents for appointment and base access (separate requirements) ziplock bags are excellent for holding documents; use two different ones (label them base access and appointment)

3)Gate Security: military bases are treated like castles and the king (base CDR) sets the rules for access. Generally access is easy. Go to the pass office present DL, registration and proof of insurance. Not sure how they will handle things because it depends on the expected traffic.

 I will prep you for the most secure base access experience called FPCON D, full lockdown, 100% vehicle and ID checks.

- Vehicle preparation: wash it, vacuum it, clean it out, this is called sanitizing your vehicle and will make a vehicle search easier and quick. Have nothing in your vehicle or on your person other than what you must have for Base access and to attend you appointment.

 You will be opening every possible place anything could hide (practice it) a sequence that I used-everyone exits the vehicle, turn off car, driver opens glove box, trunk, engine hood, ect. Then driver only open all doors, trunk, hood ect. Any passengers need to know what to expect. 

Weapons of any kind - Example - your 2nd amendment doesn’t exist on a base if you aren’t a cleared person. Leave them at home. 

Before you leave for the base (breathe) I still get nervous after 30 yrs and base lockdown security is no joke.

Base arrival: Follow the directions of the MPs to the letter, follow any special signage also. 

Present only what you are asked to present and you will get thru quicker.

Base conduct: posted speed limits, traffic rules, are enforced (don’t speed, complete stops, don’t run a light) act like a temporary guest in a foreign land and you will be fine.

Special conditions: if you have medical or any special conditions address with your scheduler and don’t be shy if you have any issues during your base visit.

Final note: Be polite but assertive if you have a concern throughout the process. The only way you get treated as an individual is if you communicate early and as needed.

This preps you for the most stringent security you could face. ~ Plato

DINAR REVALUATION : Iraq's New Economic Roadmap: A Game Changer?

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Central Bank Of Iraq Announces Growth Of Electronic Payment From 800 Billion To 2 Trillion Dinars, 11 AUGUST

 Economy  | 10/08/2024  Mawazine News – Baghdad  The Governor of the Central Bank of Iraq announced on Saturday a record increase in electronic payment operations from 800 billion to 2 trillion dinars in one year, noting that government payments reached 912 billion dinars during July 2024.

This came during his participation in a specialized workshop on accelerating the transition to electronic payment, organized by the "Osool" Foundation for Economic Development and Sustainable Development, followed by Shafak News Agency.

Al-Alaq said during his speech at the workshop that the Central Bank of Iraq works side by side with the government program and the Prime Minister's direction in supporting electronic payment, and we are proud of what we have achieved so far,

indicating that in 2023, the amounts processed through the national switchboard witnessed a significant increase, reflecting the development of the infrastructure and the expansion in the use of electronic payment channels and the impact of the campaign launched by the Prime Minister to activate electronic payment operations in general, and in the government sector in particular.

He added that these upward trends continued to develop in 2024, as the amounts processed in the national switchboard systems reached more than 2 trillion Iraqi dinars in July alone, compared to 800

billion dinars in the same month of 2023, and became 1 trillion dinars in January 2024, and government payments witnessed an additional increase, reaching 912 billion Iraqi dinars last July compared to 287 million dinars in the same month of 2023.

Al-Alaq indicated that payments at fuel stations in Baghdad alone increased significantly, recording more than 44 billion dinars in July of this year, compared to 183 million dinars in July of 2023, and 4.5 billion dinars in December 2023.

Al-Alaq revealed a huge increase in the number of POS points of sale to reach more than 50 thousand points of sale this year compared to approximately 11 thousand POS points of sale at the beginning of 2023, and thousands of them in government institutions after It was zero before the campaign was launched in June 2023. crossorigin="anonymous">

Al-Alaq expressed his hope that government institutions would adopt the establishment of specialized units in electronic payment technologies to work on following up and developing this important aspect.

https://www.mawazin.net/Details.aspx?jimare=253011