Government Advisor: E-Governance Application Contributed To Protecting Public Money And Reducing Corruption, 16 SEPT

 Government Advisor: E-Governance Application Contributed To Protecting Public Money And Reducing Corruption

Local |  09/14/2024   Mawazine News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that the application of e-governance has contributed to protecting public money and reducing corruption, while pointing out that Iraq is witnessing a major boom in electronic payment systems and economic transformation.

The Prime Minister's representative, his financial advisor, Mazhar Mohammed Salih, said at the Electronic Payments Towards Financial Stability in Iraq Conference: "On behalf of the Prime Minister, I convey to you all his high appreciation for the International Payments and Banking Technologies Conference, due to the conference representing the major shift that Iraq is currently witnessing in the field of developing digital payments in the current information age and its contributions to enhancing financial stability in our country."

He added that "digital developments are one of the important infrastructures in protecting the national economy from external fluctuations and ensuring savings in the financial system, including banks, financial institutions, and the financial and banking markets in general in Iraq."

He continued: "It is no secret to everyone that the Iraqi government program emphasized the importance of e-governance and considered it an integral part of the economic reform policy and in a manner of financial and administrative transparency," indicating that "the major boom in electronic payment systems that Iraq is witnessing and the economic transformation is based on cash and its risks."

He pointed out: "The vision policies launched by the government in implementing e-governance, returned for the sake of speeding up public collection, protecting public money and reducing corruption, because it is one of the most important systems for the transition from cash to digital payments in an accelerated manner."

He explained that "today, with the participation of international organizations, local interests, electronic payment companies, and the participation of the Association of Private Banks and His Excellency the President of the Arab Monetary Fund, we affirm without a doubt that development is important for integration into the global economy, which is essential for digital diversity and an important part, which encourages the flow of foreign investment to our country, development, innovation, e-commerce and digital development in Iraq."

He explained that "the great leap in the digital payments system in Iraq may be enhanced today by the physical and legal infrastructure provided by the Iraqi government, through the decisions taken by the Council of Ministers to facilitate the work of digital companies and improve the digital climate in Iraq." https://www.mawazin.net/Details.aspx?jimare=254858

LATEST FROM PIMPY, 16 SEPT

 Pimpy 

 All kinds of changes happening over in Iraq.  People have been bombarding me with questions.  Let's go over this because this is something I mentioned earlier and then again I'm the bad guy.  

It's something you should be aware of that it might happen...Take a look at the price of Brent Crude - $74 a barrel.  What is the budget set by Iraq for the

cost?  $70.  They're okay but it has dipped slightly below there.  It's back up above $71 which is good but man, that particular cost per barrel IMO I thought was too high and I expressed my opinion back when they first did it .

  What does that mean for Iraq? 

 If they don't have enough money to cover the budget... they're going to have no choice but to, yep, I'm going to say it, just like I warned you, devalue the Iraqi dinar.

Iraq's Bold Plan to Strengthen the Dinar: Ending the Black Market

"BECAUSE THE WRONG PATH WAS A PROGRAM RATE BY FRANK26, 16 SEPT

 KTFA

"BECAUSE THE WRONG PATH WAS A PROGRAM RATE"..........F26

Al-Sudani: Iraq today is on the right path

 

9/14/2024

 

Prime Minister Mohammed Shia Al-Sudani, during a dialogue seminar by the Anki Foundation for Studies and Research on the path to development, in the presence of Mr. Al-Hakim:

Iraq depends on oil as the only source to cover its expenses, which have begun to increase.

The development path needs more study and clarification.

We must think properly to activate sectors that support oil.

- There must be projects that suit Iraq to be a focus of development.

We have started establishing and implementing the development road project, which will transform Iraq into an open country.

We have unnatural materials that have not been exploited in industries and the strategic location of Iraq. 

We are in the planning, design and other studies phase and we have approached the World Bank to begin implementing the development road from Basra to Mosul.

Capital finds opportunity in Iraq amid security and political stability

- Many capitals want to invest in Iraq

Iraq today is on the right track

LINK

 

FIREFLY: " TV HAD THE CROOKS ON SAYING CHANGING THE EXCHANGE RATES WILL LEAD TO DEEP CORRUPTION & SMUGGLING, 16 SEPT

 Frank26 

  [Iraq boots-on-the-ground report]  

 FIREFLY: TV had the crooks on saying changing the exchange rates will lead to deep corruption and smuggling.  They are trying everything to stop this.

  FRANK: Yes, they're crooks...They are so angry there's no more auctions.  There's no more ability for them to steal what they have been stealing from you...You have great leadership with Sudani...They cant's steal anymore, isn't it fantastic?

----

 Frank26  

 [Iraq boots-on-the-ground report] 

 FIREFLY:Mr Sammy [Iraqi bank manager friend] says we are in charge of our own money.  It's not being overseen by the US Treasury.  

FRANK:  This is the most powerful thing I can share with you tonight...IMO when Alaq came back he told everybody there's no more sanctions on the banks of Iraq...That means your program rate does not exist anymore. 

 FIREFLY:  Mr Sammy says they are running the new system...This new system will remain for the rest of the year...This monetary reform education phase we're in right now will last for this whole year... 

 FRANK:  Mr. Sammy and I are on the same page.  The only difference is he's turning the page a little slower than I am.  I do not see this going into next year.  Actually it's impossible.  I see the monetary reform education...commercials...US Treasury revealing to you all sanctions have been release, which tells me we are extremely close...Mr Sammy...tells you it's coming at the end of the year or beginning, I tell you it's now...

https://dinarevaluation.blogspot.com/2024/09/firefly-rv-will-com-at-end-of-year-or.html

THE NEW DIGITAL ECONOMIC SYSTEM BACKED IN ASSETS OF IRAQ #iraqidinar @DI...

"WHY?... BECAUSE... THE MONETARY REFORM DEMANDS THIS" BY FRANK26, 16 SEPT

 KTFA

Frank26:   "WHY?... BECAUSE... THE MONETARY REFORM DEMANDS THIS"..........F26

 Al-Alaq: The number of digital banks in Iraq will be greater than neighboring countries

9/14/2024

The Governor of the Central Bank of Iraq expected, on Saturday, that the number of digital banks in the country would increase and be larger than in neighboring countries.

This came during his hosting of the activities of the Electronic Payment Conference towards Financial Stability in Iraq, which was launched in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.

Al-Alaq said during the hosting that “the experience of digital banks in the world is an experience that indicates a shift towards an approach that is completely consistent with technical developments and employing them in a direction that serves various operations.”

He added, "Digital banks are widely spread in the world, and the volume of financial transactions for these banks has reached about 5 trillion annually, and it is hoped that the number will reach about 7 trillion dollars by the year 2027."

Al-Alaq also pointed out that this is an important indicator that calls on us to stimulate this aspect, focus on it and push it forward, adding that “Iraq will be one of the countries that will advance in digital banks that occupy an important space, and the number of these banks in Iraq will be greater than in neighboring countries.”

He continued by saying, "Before launching the licensing round for digital banks, the Central Bank conducted in-depth studies and reviewed the experiences of other countries extensively until we set the necessary rules and controls to license this type of bank."

The Central Bank Governor concluded his speech by saying, “We were surprised that the number of applicants to establish digital banks exceeded 70 banks,” stressing that “the Central Bank is studying the applications to establish digital banks, sorting them out, and selecting a limited number of them.”  LINK