"R.E.E.R.!!!" BY FRANK26, 27 OCT

 KTFA

FRANK26: "R.E.E.R.!!!"...........F26

Communications: Iraqi Post has achieved great success in digital transformation of financial transactions

10/23/2024

Baghdad - WAA 

The Ministry of Communications confirmed, today, Wednesday, that the Iraqi Post has achieved great success in the digital transformation of financial transactions.

The spokesman for the Ministry of Communications, Omar Abdul Razzaq Musaheb, said in a statement received by the Iraqi News Agency (INA): "The General Company for Post and Savings has achieved great success in terms of digital transformation operations for financial transactions by converting postal books that are decades old into easy-to-use electronic cards that allow citizens to view their balance and know all movements in their account through the electronic application "Ki".

He added that "the digital transformation operations achieved their desired goals of reducing corruption and manipulation of citizens' deposits, which contributed to enhancing citizens' confidence in the procedures adopted by the Post and Savings Company," noting that "they came in compliance with the paragraphs of the government program that emphasize the importance of activating digital transformation and electronic payment in financial transactions instead of cash currency trading."

Abdul Razzaq continued, "The Central Bank of Iraq is fully aware of all the financial activities of the General Postal and Savings Company through a monthly position submitted by the company, contrary to what is being promoted."

He pointed out that "the parties that are trying to downplay the importance of this achievement or seek to mislead public opinion with false information in this regard are the same bankrupt parties that do not want the wheel of reconstruction to advance in the work of the ministry's joints."

LINK

 

JENTEL SHORT, 27 OCT

 Jentel short

10/23/24

Right now “next steps” are taking place for world trade.

Is this concerning BRICS?

Yes.

It has something to do with currency conversions for cross boarder transactions.

Bond holders are still receiving payments. 

Notification

Estimate Thurs-Sat.

They want to do it Friday.

REVALUATION UPDATE FROM JULIAN ASSANGE @DINARREVALUATION

 

"LEGISLATION" BY FRANK26, 27 OCT

 KTFA

FRANK26: "LEGISLATION".........F26 

Labor announces the release of the full-time employee salary for the month of October

10/23/2024

 

Baghdad - WAA 

The Ministry of Labor and Social Affairs announced, today, Wednesday, the launch of the full-time appointee's salary for the current month of October 2024.

The Ministry's Disability and Special Needs Rights Commission said in a statement received by the Iraqi News Agency (INA): "It launched the full-time assistant salary for more than (388) thousand and (107) beneficiaries in Baghdad and the governorates for the current month of October 2024."

It indicated that it "completed the disbursement procedures for more than (388) thousand and (107) beneficiaries to launch the full-time assistant salaries for them with a total amount of more than (66) billion and (327) million dinars for the month of October of the current year," calling on the beneficiaries to "go to the approved outlets for disbursement after notifying them with a message from the banks."

LINK

TIDBIT FROM FRANK26, 27 OCT

 Frank26 

  All of these [American US] banks have been flat out lying to us and saying it's a scam.  

But now that they have been updated IMO...the canary is singing a new tune.  It's no longer a scam.

 Do you think we have security and stability? 

...You get up in the morning and that's all you smell in Iraq is Security and stability...That's why you have these Bank Centers opening up left and right...This is brilliant and it's beautiful.

NADER FROM MID EAST:THE SPIKE ON FOREX: THE IQD LOST it's zero and it's .0014 instead of .0076

 

"TA DA FREAKING DA, LOL !!! BY FRANK26, 27 OCT

 KTFA

FRANK26: "TA DA FREAKING DA, LOL !!! ........F26 

Removing zeros and revaluing the Iraqi dinar

10/23/2024

Ali Daadoush

The concepts and scientific names in economics differ according to the specialization and the branches derived from it. When talking about the exact specialization, economic variables must be named by their scientific names. One of these names is the term redenomination, or as it is called (removing zeros from the currency). Countries usually resort to it to address rampant inflation and the decline in the value of the local currency, as the old currency is replaced with a new currency at a fixed price by removing at least 3 zeros from the old currency.

Currency revaluation becomes necessary when it comes to hyperinflation because it takes a very large number of old banknotes to facilitate trade, especially in local markets, and small banknotes become useless, as an individual needs millions of banknotes to buy simple or necessary household or food needs, an example of this is what happened in 2006 when Zimbabwe renamed its currency at a rate of (1000 old Zimbabwe dollars) for a new Zimbabwe dollar.

In addition, deleting zeros from a currency can also happen when a country joins a monetary union, as happened in the eurozone, and begins using a currency like the euro instead of its local currency. When the euro was introduced in 1999, member states first used the new currency for electronic payments and accounting, then switched from their local banknotes and coins to the euro in 2002.

There are several reasons behind renaming the currency (removing zeros), and they can be summarized as (controlling inflation, facilitating trade and the economy, political factors such as a change in government, for example, in addition to technical considerations such as updating financial systems, which are usually part of a larger project to update the country’s financial systems, such as converting to new digital systems for dealing with the currency).

From what has been mentioned, we find that (deleting zeros) is not carried out randomly, but rather is implemented after a comprehensive study of the economy and the challenges it faces, and it must be accompanied by other economic and financial measures to protect the economy from financial fluctuations. Therefore, renaming the currency is a complex decision that requires a comprehensive study of the economy and politics in the country, and it must be implemented while minimizing the potential negative effects on the economy and citizens.

LINK