“Iraq’s leading fintech ‘Qi Card’ and ‘Ant International’ LAUNCH SuperQi App with digital banking capabilities”
1.Powered by Alipay+ Wallet Tech solutions, SuperQi integrates a digital lifestyle super app with a fully functional digital bank
2. With over 11 million cardholders and five million mobile app users, Qi plans to reach over 15 million app users within the next three years
3. Qi aims to further accelerate this shift towards a cashless society
4. Available in Arabic, English, and Kurdish, SuperQi aims to serve millions of Iraqis
5. SuperQi enables scan-to-pay, money transfers, bill payments, loans, mobile recharge and other payment solutions
6. SuperQi represents a paradigm shift in how we address the lifestyle and daily needs
FX opens tomorrow 8 AM in Iraq!!
Mazhar Mohammed Saleh, financial and economic adviser to Prime Minister Mohamed Shia Al-Sudani, denied the existence of a salary crisis in the country, stressing the existence of large financial reserves covering the required liquidity.
Saleh said in a press statement that “there is speculation that has occurred recently about oil prices, a liquidity crisis and so on,” adding that “at the end of the fiscal year there is a financial audit process, and therefore there may be a simple delay in the issuance of salaries for a few days, according to calculation matches.”
The Prime Minister’s adviser stressed that “there is no salary crisis, and what is going on here and there in this regard is imaginary, no more and no less.”
The monthly salaries of employees were delayed in the last month of 2024, while finance usually paid the wages of self-financing companies starting from the middle of each month, as well as to the employees of the ministry and banks, while the salaries of other ministries are released starting on the 23rd of each month.
Regarding the size of the monetary mass outside the Central Bank, Mazhar explained that it is “in the range of 100-105 trillion dinars,” noting that “the size of the monetary mass within the banking system is less.”
He stressed: “We have large foreign cash reserves that completely cover this liquidity, which is estimated at $105 billion.”
Iraq, the second largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), relies heavily on oil revenues, with the hydrocarbon sector accounting for the vast majority of export revenues and about 90% of the state’s financial revenues.
Iraq raised its budget in 2024 even after a record volume of spending in 2023 when more than half a million new employees were hired in the public sector.
The 2024 budget rose to 211 trillion dinars ($161 billion) from 199 trillion dinars ($153 billion) in 2023 with a deficit of 64 trillion dinars.
The government budgeted $70 a barrel as an oil price in 2024, about $6 less than the weighted average price.
At one minute before midnight Tues. 31 Dec. Nesara and Gesara actually starts.
We are supposed to have a Global Announcement on Nesara Gesara on Wed. 1 Jan. 2025.
Nesara includes all new worldwide asset backed currencies by all those precious metals and oils and gas and all commodities.
We will have a new USTN coming out fairly soon.
Nesara and Gesara will be revealed in the first ten days and might even be in the EBS Global Announcement – so it might well all happen tomorrow.
For the US, substantial Restitution and Reconciliation Allowances and significant increases in Social Security will also begin with Nesara.
Ages 30 – 45 will get R&R paid monthly over three years in to your bank account. Ages 45 – 60 will receive it over two years. 60 and older will receive it as a lump sum.
We are supposed to be notified of exchange/redemption appointments on the first of Jan in our emails and set our appointments either Wed. 1 Jan. or Thurs. 2 Jan.
The email should tell us what day and time to call – so that everyone doesn’t call at the same time
Redemption Center Staff are going into work on Thurs. 2 Jan. at 9am.
When you call for an appointment you might get an AI voice, but give them your Zip code and then you’ll get directed to a live person.
You have to ask for the Contract Rate on the Dinar.
At your redemption/exchange appointment you can set up your Med Bed appointment and can refer up to six people for Med Bed treatments.
Starting to implement ASYCUDA global system for automating customs operations
The Prime Minister's Media Office announced on Tuesday the start of using modern automation systems to facilitate the entry of goods into border crossings and monitor them centrally, and the agreement to implement the global ASYCUDA system to automate customs operations.
The office said in a statement, seen by "Al-Eqtisad News", that "in implementation of the directives of Prime Minister Mohammed Shia Al-Sudani regarding administrative and financial reform, which is included among the priorities of the government program, a special meeting was held today in the Prime Minister's Office headed by the Prime Minister's Advisor for Border Customs and Ports Affairs, where the procedures related to the governance of border ports and customs systems were discussed.
" The statement added that "the meeting witnessed the announcement of the completion of the necessary infrastructure to link all border ports with the latest technologies, and the start of the use of modern automation systems to facilitate the entry of goods into border ports and monitor them centrally. It was also agreed to implement the global ASYCUDA system for automating customs operations, enhanced with electronic payment services starting from January 1, 2025." He pointed out that "this step will contribute to achieving automation in ministries and institutions, including the e-government project and providing electronic payment services, which contributes to enhancing transparency and accountability, simplifying procedures, facilitating services and reducing bureaucratic obstacles, in addition to establishing good governance and combating corruption." link
Withdrawals and deposits suspended for four days at all Iraqi banks. The Central Bank of Iraq will close on January 2, 2025 and cease banking transactions for customers.
The bank also decided to suspend withdrawals and deposits in savings accounts at bank branches from December 30, 2024 to January 2, 2025, with the aim of completing its annual budget.
FX opens tomorrow 8 AM in Iraq!!