Monday, January 6, 2025

FIREFLY: Television is now showing comprehensive approach on how to trade the Iraqi dinar on Forex !

The Iraqi Government Succeeds In Recovering 50 Billion Dinars From The Corrupt During 2024, 6 JAN

Money and business Economy News – Baghdad The Parliamentary Integrity Committee confirmed, today, Saturday, that the government succeeded in recovering 50 billion dinars from the corrupt during the past year, while indicating that Prime Minister Mohammed Shia Al-Sudani played a prominent role in reducing corruption files.

Committee member MP Alia Nassif said: "Al-Sudani and the Integrity Commission had an effective impact in reducing the aggravation of these files and prosecuting those involved in them," noting that "the government also succeeded in recovering about 50 billion dinars from those involved in corruption files in the Deal of the Century, in addition to the Director General of Refineries and the Assistant Director of Investment during the year 2024."

Nassif pointed out that "the anti-corruption operations also included pursuing those involved in real estate fraud files," noting that "most ministries and governorates formed sub-committees to stop the waste of public money." 199 views 01/04/2025 - https://economy-news.net/content.php?id=51588

TIDBIT FROM MILITIAMAN, 6 JAN

Militia Man

Article: "Monetary stabilization mechanism will maintain financial stability in the country"

What is that going to be?

It's the reinforcement mechanism, it's the new one. It's not the old dollar auction. They're still going to use the dollar and many different foreign currencies. Realize, when Iraq turns their currency on to go international, Iraq is going to be a foreign currency that will be traded on international markets.

So when they talk about "foreign currencies" think about Iraq being one of them. So when they talk about a "basket of currencies", Iraq is going to be one of them within it.

MNT GOAT: The CBI is planning to conduct the project VERY SOON!! @DINARREVALUATION #iraqidinar

Al-Nusairi: Monetary policy indicators for 2024 confirm that the Central Bank is the first economic institution in Iraq, 6 JAN

Al-Nusairi: Monetary policy indicators for 2024 confirm that the Central Bank is the first economic institution in Iraq

The economic and banking advisor and member of the International Union of Arab Bankers, Samir Al-Nusairi, confirmed that through accurate financial and statistical analysis, the Central Bank of Iraq revealed the positive indicators it achieved for the third quarter of 2024 compared to the same period in 2022-2023, and also announced the suspension of work on the electronic platform on 12/31/2024.

Al-Nusairi explained in an interview with "Al-Eqtisad News" that the success of the monetary policy adopted by the bank during the year 2024 and the positive indicators of business results for the third quarter/2024 compared to the same period for the years 2022-2023, which indicated the following: Total deposits in banks operating in Iraq achieved a growth of (4.2%), in contrast, cash credit granted by operating banks recorded a growth of (11.6%), and deposits in private banks operating in Iraq recorded a growth of (14%), in contrast, cash credit granted by private banks achieved a growth of (15.1%), in contrast, the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024.

He added that the gold reserves of the Central Bank of Iraq recorded a significant growth of (57%), as their value reached (16) trillion dinars, compared to their value of (10.7) trillion dinars in the third quarter of 2023. The important thing is that the annual inflation rates recorded a percentage that is among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rest of the percentage is acceptable at (3.7%) and (3.1%) respectively, and this reflects price stability, maintaining the general price rate, achieving the most important goals of monetary policy, and the success of monetary policy in Iraq.

Al-Nusairi stressed that by the end of 2024, it becomes clear beyond doubt that the procedures of the Central Bank of Iraq and the efforts it has made since the beginning of 2023 until now, with the support and cooperation of the government, have borne fruit and begun to yield positive results according to what was planned, with detailed procedures and administrative and technical steps and understandings

To regulate the financing of foreign trade with Arab and international banks by approving the opening of accounts for Iraqi banks in American, Chinese, European, Emirati, Indian and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which are the dollar, euro, Chinese yuan, Indian rupee, Emirati dirham, Turkish lira, Jordanian dinar and Saudi riyal,

And leaving the electronic platform in 2024 and allowing banks to supply dollars and foreign currencies into Iraq from their accounts with correspondent banks or abroad according to specific controls issued by the Central Bank of Iraq, as well as reaching the opening of many accounts for Iraqi banks in correspondent banks.

He pointed out that the strategy of the Central Bank of Iraq implemented in 2024 to reform the banking sector adopted the restructuring, development and classification of banks and increasing their capital to the ceiling set by the Central Bank according to the specified timetables, which led and will lead to raising the capabilities of Iraqi banks to provide the best banking products and services to customers and to the economy, investment and development and moving to comprehensive digital transformation and compliance with international standards and helps in lifting the restrictions imposed on our (28) private banks.

He pointed out that foreign transfers, which reach 97%, are made at the official exchange rate, and work is underway to facilitate foreign transfers for small traders and to identify speculators' plans to harm the Iraqi economy.

A foreign exchange reserve of 153 tons of gold has been maintained, with a cumulative reserve ratio of 140%, to cover imports and local currency in circulation and provide the necessary liquidity to meet the needs of the Ministry of Finance to implement the government's operating budget.

He also noted that the developmental measures for technical, technological and administrative infrastructure in the Central Bank are being implemented accurately and comprehensively in its banking reform strategy in all its axes, and are an embodiment of what it has specified in the roadmap that it has clarified in cooperation with the government in accordance with what is stated in the government's program in Axis 12 (Financial and Banking Reform) and Paragraph 7 thereof, which is related to developing and enabling banks to contribute to development and investment.

Al-Nusairi concluded his speech by saying that the efforts made by the Central Bank in 2024 are an affirmation of the soundness of the implementation of its third strategy for the years 2024-2026, and it is trying to achieve its main and subsidiary goals according to their timetables, with wishes for success and achieving economic stability because the primary duty of banks is to be (stability) banks. link

SANDY INGRAM CC HIGHLIGHTS NOTES, 6 JAN

SANDY INGRAM CC HIGHLIGHTS NOTES

Highlights

Summary

In this video, the presenter delves into the complex interplay between technology, society, and individual behavior in the digital age. The discussion begins with an exploration of how advancements in technology have transformed communication and information sharing.

The presenter emphasizes the dual nature of technology, highlighting both its potential benefits and drawbacks. Key topics include the impact of social media on mental health, the implications of artificial intelligence in everyday life, and the ethical considerations surrounding data privacy.

The video also touches on the importance of digital literacy, urging viewers to cultivate critical thinking skills to navigate the complexities of the digital landscape. Throughout the presentation, the speaker encourages a thoughtful approach to technology use, advocating for a balance between embracing innovation and maintaining personal well-being.

🌐 Transformation of Communication: The video underscores how technology has revolutionized the way people communicate, leading to both enhanced connectivity and new challenges.
🧠 Mental Health Impacts: The presenter discusses the ramifications of social media on mental health, raising awareness about issues like anxiety and depression linked to online interactions.
🤖 Rise of Artificial Intelligence: The conversation includes insights into the growing presence of AI in daily life and its potential to reshape various industries and professions.
🔒 Data Privacy Concerns: The ethical dilemmas surrounding data privacy are highlighted, urging viewers to consider the implications of their digital footprints.
📚 Importance of Digital Literacy: The video emphasizes the necessity for individuals to develop digital literacy skills to critically assess the information they encounter online.
⚖️ Balancing Innovation and Well-being: The presenter advocates for a balanced approach to technology use, promoting mindfulness in digital consumption.
🌟 Empowerment through Knowledge: The overarching message encourages viewers to empower themselves through knowledge, enabling them to make informed decisions in a tech-driven world.

Key Insights

💬 The Paradigm Shift in Communication: The video articulates how technology has fundamentally altered human interaction, enabling instantaneous communication across vast distances. However, this shift also brings about a paradox where meaningful conversations can be overshadowed by superficial exchanges. The presenter emphasizes that while technology can foster relationships, it is crucial to maintain face-to-face interactions to sustain emotional connections.
🧠 Social Media and Mental Health: The presenter brings to light the increasing evidence linking social media use to mental health disorders. Studies suggest a correlation between heavy social media consumption and feelings of inadequacy, loneliness, and depression. The speaker encourages viewers to be mindful of their online habits and consider taking breaks from social platforms to prioritize mental health.
🤖 AI’s Transformative Role: The discussion about artificial intelligence illustrates its potential to enhance efficiency and innovation across multiple sectors, from healthcare to finance. However, the presenter also warns about the risks of job displacement and the ethical implications of AI decision-making. The need for regulatory frameworks to govern AI development and application is stressed, advocating for a collaborative approach between technologists and policymakers.
🔒 Navigating Data Privacy: The video raises critical questions about data privacy, especially in an age where personal information is frequently shared online. The presenter discusses the importance of understanding privacy settings and the implications of consent when using digital services. Viewers are urged to be proactive in managing their digital identities to safeguard against potential misuse of their data.
📚 The Necessity of Digital Literacy: A significant insight is the call for increased digital literacy. The presenter suggests that as technology evolves, so must the skills required to navigate it. Critical thinking, the ability to discern credible sources from misinformation, and understanding digital ethics are emphasized as essential tools for individuals in today’s information-rich environment.
⚖️ Mindfulness in Technology Use: The video advocates for a more intentional approach to technology consumption. The presenter suggests that viewers should reflect on their technology use patterns and consider implementing strategies to reduce screen time. Mindfulness practices can help individuals reconnect with their surroundings and foster a healthier relationship with technology.
🌟 Empowerment through Informed Choices: The overarching theme of the video is empowerment through knowledge. The presenter encourages viewers to take charge of their digital lives by educating themselves about the tools they use and the information they consume. By being informed and critical, individuals can navigate the digital landscape with confidence and purpose, making choices that align with their values and well-being.

In conclusion, the video presents a comprehensive overview of the multifaceted relationship between technology and society. By addressing both the positive and negative aspects of technological advancements, the presenter encourages viewers to engage thoughtfully with their digital environments. The insights shared serve as a guide for individuals seeking to harness the benefits of technology while mitigating its potential risks, ultimately advocating for a balanced and informed approach in a rapidly changing world.

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