Increase In Iraqi Oil Product Revenues Through Electronic Payment
Electronic payment at gas stations Money and business Economy News – Baghdad m The Oil Products Distribution Company announced an increase in its sales of oil derivatives through the electronic payment window POS during the month of September, with revenues exceeding one billion Iraqi dinars for the month of August.
The company’s general manager, Hussein Talib Abboud, revealed that the company’s sales via electronic payment of fuel types in all its distribution outlets in the country reached approximately (740) billion Iraqi dinars, i.e. a difference of more than one billion dinars from the month of August, whose sales amounted to approximately (633) billion dinars.
He stressed that "the gradual rise in revenues from petroleum products since the start of the electronic payment project on April 1, 2023 is nothing but evidence of its success since the moment of its launch and represents an important step in the project to automate distribution work."
The company's general manager noted that "the distribution company is the first company in Iraq to introduce electronic payment service into its operating system in all its distribution outlets, and it also included those dealing with the company from gas and kerosene agents, generators, and constructed stations, in addition to tank conditioning and others."
Hussein Talib Aboud confirmed the company's determination to complete the drawn plans by equipping all fuel stations with electronic payment devices and ending cash transactions in implementation of the government program. 73 views 2024/10/06 - https://economy-news.net/content.php?id=48411
FAMILY: KEEP A VERY CLOSE EYE ON THE FOREX STARTING 5pm EASTERN AND ONWARDS……WE MAY BE GETTING A BIG SURPRISE!
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BEARDED PATRIOT
Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts.
The RV will also be released QUIETLY for T4b for us to revalue. Once 4b is done or nearly done, then the public will commence on their exchange.
The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates. This is to keep the PUBLIC for being upset and causing backlash. IMO…..
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BEARDED PATRIOTUSA
FAMILY: I know everyone is excited from what we’ve been TOLD, but please please stay grounded. There has been just “verbal communications” between individuals without physical proof of such event. Let’s just stay the course and see what goes on from here. Still waiting on proof from Iraq’s Gazette also.
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Family: This is Bearded Patriot. Just sitting here in my hospital room waiting for my heart surgery tomorrow morning, but if you don’t mind me saying this……I truly don’t believe we will be seeing the new rate BEFORE we are revaluing.
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Family,
Please remember….we don’t need it to be posted (RV RATE) on the Gazette for us to RV. THE POSTING of the Gazette is for the Budget to make it finalized by law. IMO, we’re still extremely close to getting this completed. Keep a close eye on your emails.
Remember, it’s supposed to be a surprise and In my opinion, it doesn’t help our cause when we have all the gurus or podcasters claiming things out of hopium without significant proof, other than someone’s words or hearsay. Let’s all stay cool, calm and collective as a family and we will cross this line together.
Yelling “WOLF” is doing nothing but bringing our consciousness and desires to a minimum and bringing negativity to the forefront.
I can tell you family that I truly believe we’re extremely close from what is currently occurring to our destiny and dreams…..HANG ON TO THEM CLOSELY AND VERBALLY MANIFEST IT TO FRUITION!
LOVE YOU ALL AS ALWAYS
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I believe we will go and then a few days to weeks, then the rate will appear of the forex giving the single to the public for their turn to exchange.Again, this is only my opinion. So stand ready whether the rates on forex or not!!!!
private files , 2024/10/06 23:57 , Number of readings: 174 Baghdad - Iraq today: Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports of some other banks refusing to return customer deposits under the pretext of a lack of cash liquidity.
This development prompted many citizens to quarrel with the managements of the banks that remained open, in light of mounting fears that the officials of these banks would flee after emptying them of funds.
Banks that closed their doors include: World Bank Assyrian consumption Consumption of Babylon Al Ansari Bank Middle East Bank Holding Bank Noor Bank of Iraq Trans-Iraq Bank Al Huda Bank Mosul Bank
As for the banks that remained open, but refused to return customer deposits under the pretext of a lack of liquidity, they include: National Bank Consumption of Baghdad Development Bank Hermit Bank South Bank United Bank Union Bank Spectrum Bank
This sudden closure comes amid reports of financial turmoil hitting the banking sector in Iraq, as
many customers expressed their fear of losing their money amid increasing rumors about the intention of some bank officials to flee outside the country after withdrawing financial assets from the branches.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Monday Morning fellow RV’ers
Member: Another week of hoping……another day older and deeper in debt.
Member: Still hopeful this week
Member: Mark- How are you feeling about this week? I feel like I ask this every week…Groundhog Day
Member: Have anything good today Mark? Are the goal posts moving again?
MZ: I do not believe our goal posts are moving…..i believe things are funneling quickly in the right direction.
MZ: in Iraq…This is a great repeater….”Sudani chairs meeting to review financial reforms-stresses prosecution of speculators” They are going after speculators…….with the financial reforms this is important.
MZ: “ Al Sudani directs to continue simplifying banking procedures and prosecuting speculators” and “Supporting the local economy the government takes a series of decisions and measures to activate the role of the private sector” This is non oil revenues
MZ: Right now it’s the Monday Morning blues as we wait to get some bond updates to see if they are still on track with expectations of spendable dollars tomorrow.
Member: What kind of bonds did the contact have from last week-specifically
MZ: I can’t be to specific in case it gets them in trouble…but, it’s a German bond. I have not heard they were moving forward yet with Dragon bonds.
Member: German 1924 comes first , then the dragon bonds , I can not say more
Member: How are u gonna hear anything from bond people when they immediately go under an NDA?
Member: They can at least say they are under an NDA…..we guess the rest
Member: If it’s a shotgun start…..Bonds cannot go until we get notifications….imo
MZ: From the banking side I did get one from someone who works in wealth management. They said “We would not be doing this level of preparation if we weren’t close”. In other words they sould not be working weekends or throughout the week at this level if we were not close. They wouldn’t give me what to expect date-wise…but I find that encouraging.
Member: Close. There’s that word again. I think I’ll ban that word forever at some point!
Member: I just got an email from my Chase bank regarding a appointment with a wealth manager
MZ: Isn’t that crazy….They are chasing people even if they only have $30 or $40 dollars in the account. Maybe they know they have currency and are preparing for something.
Member: I heard there will not be 800 numbers.
MZ: There will be plenty of 800 numbers….not just one magical one the whole world uses
Member: Different zip codes , states and countries will have different numbers is what I heard….thats why we will be asked for our zip codes when we set our appointments.
Member: Will all the banks have the same rates?
MZ: All the redeeming or qualified exchange banks will have the same rates is what I was told . If someone walks in to a teller right off the street….they should get street rates.
Member: I am resigned to waiting for our RV until after the election……stepping off the roller coaster today.
Member: Mark, hearing any chatter from your Iraq contacts regarding the IQD rate being announced publically soon?
Member: there is still a chance Iraq goes alone……that would bring relief to millions if they do.
Member: We need our freaking RV so we can help and start changing this country!!!! Enough waiting!
Member: Pray for Florida, Pray GOD stops the hurricane
Member: thanks for News Mark and sending prayers to Helene suffers
StacieZ joins the stream today. please listen to the replay for her information
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
The Dinar Collapses Against The Dollar.. Is The Specter Of 1600 Looming On The Horizon?
October 3, 2024 Baghdad/Al-Masala: The dollar price witnessed a noticeable increase against the Iraqi dinar during the past few days, as the exchange rate reached 1,550 dinars per US dollar.
This increase has raised great concern among economic and popular circles due to its direct impact on the local market and on the standard of living of citizens.
Economic analyst Munar Al-Abidi explained that there are a number of reasons behind this rise in the US currency against the dinar.
One of the most prominent reasons is the decline in transfers of other foreign currencies, such as the UAE dirham and the Chinese yuan, as a result of the significant restrictions imposed by correspondent banks that are in the process of strengthening the balances of these currencies.
These restrictions directly affected the fluidity of transfers and weakened the possibility of obtaining other foreign currencies on which the Iraqi economy depends.
In addition, the Citi-Pilot project faces clear challenges, as the banks participating in it are reluctant to open new accounts for operating companies, as their dealings are limited only to companies with which they have previously dealt.
This limited approach reduces the ability to use these banks as channels for external remittances, increasing pressure on the US dollar and limiting the availability of alternatives.
The current currency exchange mechanisms were unable to cover the increasing demand for foreign currency, especially for the purpose of importing some of the most valuable goods, such as mobile phones and gold, which prompted importers to resort to the parallel market, and contributed significantly to increasing pressure on the dollar and raising its price in the local market.
Expectations indicate that the decline of the dinar against the dollar may continue during the coming period.
If practical measures are not taken to address these issues, the exchange rate could reach 1,600 dinars per dollar in the coming months. In order to address this challenge, there are several solutions that can help calm the situation. One of these solutions is to increase the network of correspondent banks around the world, especially in the UAE and China, which could help facilitate remittances and increase the flow of foreign currency into the country.
The solutions also include controlling financial policy by limiting the import of some goods that contribute to increasing demand for the dollar, in order to reduce pressure on foreign currency.
Pressuring banks under the Citi-Pilot project to be more open could help accept a wider range of customers, which would help ease pressure on the dollar and diversify the channels available for remittances.
In addition, it may be necessary to temporarily ban the import of some goods to reduce the demand for foreign currency until more organized and smooth solutions for the foreign transfer process are found.
The rise in the dollar exchange rate against the dinar is the result of a combination of economic and financial factors, including weak banking infrastructure, difficulty in accessing remittances, and increased demand for foreign currency for import purposes.
The current situation reflects major challenges that require rapid and effective action from the Iraqi government and the Central Bank to restore stability to the financial market.