The Ministry of Finance and Economy of the Kurdistan Government of Iraq announced on Wednesday the transfer of more than 77 billion dinars to the Federal Treasury from non-oil revenues of the region.
The ministry referred in a statement received by “Mawazen News”, to “the transfer of an amount of 77 billion and 841 million and 761 thousand dinars to the bank account of the Federal Ministry of Finance at the Central Bank of Iraq / Erbil branch.”
“This amount represents the share of the Federal General Treasury of the non-oil revenues of the Kurdistan Region of Iraq for last June.”
o today I wanted to show you just how ridiculous and crazy these people get in trying to get clicks from you in YouTube and their other sites. Yes, they lie, don’t know very much about this investment but will make believe they do. They will even go do far as to tell you God is speaking to them….. lol… lol… lol… 😊 Here is the grandest of all idiots and surprising enough it is NOT TNT Tony. Congratulations Tony! Someone else surpassed your idiocy! Her name is Melonie Hinds. Yes, another drunkard doing her videos either drunk, drinking or hungover. If you should stumble upon her site please, please take a look but only for laughs. Don’t believe a word she says. Yes, she still believes there is going to be “lop” and actually tells her listeners this. Obviously, she has no idea what a lop actually is and how it is used by the IMF as a tool. The term is very specific to the IMF and how they proceed with the process.
Drunkard lady Melania. Are you listening to her nonsense? I warned you about her before.
Instead of the Melania bullshit, Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer, fresher, clean, lower denominations. They must shrink the monetary mass and this also is part of the revaluation process, as if put more currency in circulation (print it) you cause inflation. So, the opposite is when you take money out of circulation. You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally.
They are not doing this redenomination because of hyper-inflation, as Zimbabwe did in 2016, but rather to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed: rate. Yes, they could have had hyperinflation if it was not controlled and they expected it. But the reality is it did not happen and was prevented. This is what made the situation good for Iraq but also so weird too for the last 20 years.
As of December 2022 all Chapter VII sanctions are over and it is time to get back to normal. Yes, it is a long process and so far it has taken them this long since just to get to the point they are now. So what is normal? It certainly is not keeping these larger three zero notes forever. Get it? These three zeros notes are also sometimes referred to as “sanctioned notes” when I talk to my CBI contact.
GOVERNMENT COMMITTEE APPROVES STRATEGIC PLAN FOR DIGITAL TRANSFORMATION IN IRAQ
The Supreme Committee for Digital Transformation, headed by Prime Minister Mohammed Shia Al-Sudani, approved the strategic plan for transformation today, Sunday, and took a number of decisions.
The Prime Minister’s Media Office stated in a statement received by “Al-Eqtisad News” that “Al-Sudani chaired the periodic meeting of the Supreme Committee for Digital Transformation in Iraq. During the meeting, the implementation of previous decisions and directives was reviewed, practical procedures related to digital transformation in public sector institutions were followed up, and infrastructure development was developed, in a way that helps accelerate this important digital transition that will contribute to improving the quality of service provided to citizens.”
According to the statement, the Prime Minister stressed “the government’s interest in the comprehensive digital transformation process, which has become a necessity in Iraq. The five-year development plan has adopted this process, pointing to the possibility of benefiting from the youth reality of Iraqi society to move towards the rapid implementation of this transformation. His Excellency also stressed the importance of thoughtful planning in this field; due to its importance in achieving development.”
The statement continued, “The Supreme Committee for Digital Transformation considered a number of the presented files, and approved the technical report on the strategic directions to provide the requirements for digital transformation, which includes the methodology and general principles for launching this process, and benefiting from the successful experiences of countries similar to the situation of Iraq, as well as the vision required to be adopted to achieve this transformation, so that the services provided to the citizen are the first idea for launching the digital transformation process in terms of service and cybersecurity.”
He pointed out that “the committee approved the steps for digital transformation in the Retirement and Social Security Department at the Ministry of Labor and Social Affairs, and also discussed the necessary steps to implement digital transformation in the Companies Registration Departmentat the Ministry of Commerce.”
According to the statement, the committee agreed to “continue cooperation with the United Nations Development Program, with the aim of improving indicators related to the communications and information technology sector, and approved the Communications and Media Commission and the Central Bank of Iraq to negotiate with international digital companies.”
RAFIDAIN BANK: 44 BRANCHES IMPLEMENTED THE COMPREHENSIVE BANKING SYSTEM
Rafidain Bank announced on Sunday that the number of effective and completed branches of the comprehensive banking system has reached 44 branches, distributed in Baghdad, Anbar, and Najaf, in addition to the border crossings of Zurbatiyah, Safwan, Arar, and Trebil.
The bank stated in a statement:
In implementation of the government program to move from paper transactions to electronic ones to provide the best services to citizens. Rafidain Bank announces the implementation of the comprehensive banking system in the Nasr Square and Oil Products branches in Baghdad and the Anbar and Ghari branches in Najaf Al-Ashraf to join the branches that have activated the comprehensive system in Baghdad and the governorates in addition to the border crossing branches (Zurbatiyah – Safwan – Arar – Trebil) so that the number of branches that have implemented and completed the system becomes (44) branches….
The bank confirms that the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the scheduled timings to include all the bank branches in the implementation of the system.
