DINAR REVALUATION

Sunday, August 18, 2024

IRAQI DINAR HOT INFO SAM & SUMMARY MUST WATCH

The Iraqi Digital Path Diagnoses The Errors Of The Electronic Payment System And Confirms: We Must Start At The Top Of The Pyramid, 18 AUGUST

Posted On2024-08-16 By Sotaliraq The head of the Iraqi Digital Path Council, Dr. Safad Al-Shammari, identified several errors in the electronic payment system, which the government is calling for to address from time to time, while he stressed that to address these problems, it is necessary to start with the state ministries.

Al-Shammari said, “The electronic payment system in Iraq requires a set of basic requirements, including, foremost, the technical infrastructure, with the availability of fast and reliable internet networks, the development of modern and secure electronic payment platforms, and improving the means of connection between financial institutions, banks and electronic payment companies, not to mention security and protection, by ensuring digital security through data encryption and protection of sensitive information.”

Al-Shammari pointed out that “the success of electronic payment requires the development of anti-electronic fraud measures, such as multi-factor verification, and the availability of strong legislation to protect users from cybercrimes, which should be accompanied by awareness and digital culture, by spreading awareness among users about the benefits and mechanisms of using electronic payment.”

He added, “In return for a basic need, which is integration with banks and financial institutions, by enhancing cooperation between electronic payment companies and banks to provide integrated services, and enabling instant money transfers between different accounts, which are regulated by the legal and regulatory framework, by establishing clear laws and legislation to regulate electronic payment services, with real government oversight to ensure that all parties adhere to the required standards.”

Al-Shammari stipulates that “for this system to succeed, this government must support public policies by providing incentives and encouragements to companies and citizens to use electronic payment, in an effort to build users’ confidence in the system through reliable and transparent experiences, in addition to ensuring the stability and reliability of the system at all times.”

He stressed that “the electronic payment process was launched as a popular digital financial culture for all citizens, before it started at the top of the pyramid, represented by the state ministries themselves, which was a concern for all citizens when it started working on it, while it faced a challenge represented by the resistance of some of the parties assigned to implement this process in various ways and pretexts, which did not support the opportunities for generalization as a prevailing culture in Iraqi society, in addition to a number of technical factors, most notably the weakness of the technical infrastructure, lack of internet coverage or slow speed.

” Pointing out that “this makes access to electronic payment services difficult or unreliable, and the lack of advanced devices and systems in some rural or remote areas, not to mention security and privacy concerns, with increased concerns about electronic fraud and cyber attacks, and lack of confidence in the system’s ability to protect personal and financial data, which was reflected in individuals’ hesitation to switch from cash to digital payment methods due to old habits or lack of understanding of technology.

” Noting that “this matter has increased the chances of some sectors or even the people working in them resisting change, for fear of losing control or being exposed to new risks.”

Al-Shammari concludes, “Despite the great benefits that the electronic payment system can provide, there are some potential negative effects that must be taken into account, including what is known as the digital divide.

The spread of electronic payment may widen the gap between different groups in society, especially between those who have good access to technology and those who lack it, such as the elderly or residents of rural areas. In addition to the security threats resulting from the increasing reliance on digital systems, there may be an increase in electronic fraud and cyber attacks.

” He indicated that “this exposes users’ data and financial accounts to risk, and the loss of privacy, as it requires collecting more data about individuals and their transactions, which raises concerns about privacy and how this data is used, in addition to what is known as financial exclusion, when some individuals or small companies find it difficult to join the electronic payment system due to costs or technical requirements, which may lead to their exclusion from the digital market.

These are requirements and factors that must be carefully considered to reach the stage of sound digital dealings.”

It is noteworthy that the Iraqi government decided last year to oblige all its institutions - in addition to private schools and universities, gas stations, stores, restaurants, pharmacies, medical clinics, and others - to use electronic payment tools, and gave them a deadline to completely switch to this approach until the beginning of next June. LINK

SUMMARY OF UPDATES OF GINGER, 18 AUGUST

Thurs. 15 Aug. 2024 Farm Claims liquidity, Ginger’s Liberty Lounge

Reports regarding Farm Claims settlements being paid are accurate; and this is a very nice item which we can happily check off our “non negotiable list”. I was unable to share the exact details from my own confirmed contact, so I am sharing this other news passed along from someone else.

8.14.24. Lamb: “I just got off the phone with a friend of mine, she told me that her friend that had registered with the farm claim packages … He woke up to $500,000 in their bank account with no explanation, no nothing, he showed her the bank statement and knows this other person had “no pot to piss in” before (per se). So the statement about farm claims being paid is 100%.”

GINGER

💢 Happy News!! Only worked one hour earlier and got most of the workday approved VTO. Been a productive catch all day, getting things done and even spent time with Mr Ginger. Please pray with me that the last hour and a half gets cleared, too? (My 8 - 930 PM) It's been nice having a bit of time to focus on other stuff at home. 🏡💓🏡💓🏡 Love you GLL family

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Getting some positive news from Triple Cabin Extravaganza Happy Campers - just waiting until there's something solid to tell you other than, "We're waiting". There's no bad news whatsoever - so at least that's a plus. You know me -- tryna vet it b..for read more: https://dinarevaluation.blogspot.com/2024/08/latest-from-ginger-15-august.html

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🔥 Iraqi Dinar 🔥 The Iraqis Win 🔥 Today IQD Value to Dollar RV News Guru ...

Attracting investors and limiting currency smuggling.. Specialist explains the importance of "digitizing" Iraqi banks, 18 AUGUST

Financial and economic expert Nawar Al-Saadi revealed, today, Friday (August 16, 2024), the importance of the benefits of "digitizing" financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities. ”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system.” link

LATEST FROM MILITIAMAN, 18 AUGUST

Militia Man

Article: "Baghdad investigates the region's salaries and sends a monitoring committee to audit the 'spacemen' "

The corrupt are going to get exposed. Paying double and or to fake people is not going to fly with the new systems in place. Skimming off the top is going to have to stop. I would suspect it will quickly too...

Militia Man

Corruption...At the very last minute you're going to do something that's dramatic and you're going to create value , you're going to want to have all the bad folks under the gun and maybe even notified prior to that we got your number..

What I bring has data behind it. I'm not just making it up or just getting phone calls. I'm actually doing the work. I put it together. It takes a lot of time to put all the work together.

I like doing it because it does help so many people...You're not the only ones that are tired. Everybody in our crews can be tired at times. We all need to support...

Article quote: "Federal Integrity Commissioner...says we discussed the development in the integrity file and the government's efforts to recover funds into the Iraqi state treasury."

There's some people out there that have stolen a lot of money and that money is still floating around the world...If you stole it you're probably going to have a knock on the door...If you're playing by the rules you shouldn't have a problem. Depends on who writes the rules of course...

https://dinarevaluation.blogspot.com/2024/08/latest-from-militiaman-17-august.html