CRYPTO TRADER: Advisor to Al-Sudani: The internal debt exceeds 80 trillion dinars and there is a plan to gradually extinguish it
Monday, January 20, 2025
CBI unveils new banknote security features, 20 JAN
CBI unveils new banknote security features
Shafaq News/ The Central Bank of Iraq (CBI) revealed the security features of its new banknotes to raise awareness among the public, companies and financial institutions.
The CBI also underscored the sophistication of Iraqi banknotes, describing them as among the most advanced in terms of security features.
The notes are printed on premium paper to guarantee both quality and security.
The new banknotes will circulate alongside the existing ones, with no plans to withdraw the older currency from circulation, the Central Bank confirmed.
In a technical bulletin, the CBI showcased the enhanced security features of the banknotes, including raised marks on the new notes to assist visually impaired individuals in identifying denominations by touch.
To ensure a smooth transition, the CBI emphasized that the public will have sufficient time to familiarize themselves with the new banknotes and urged the widespread dissemination of this information.
Highlighting its objectives, the CBI stated that its primary goals include maintaining local price stability, ensuring a competitive and stable financial market system, and promoting sustainable growth, job creation, and prosperity in Iraq.
The CBI warned that manufacturing, possessing, or distributing counterfeit banknotes constitutes a criminal offense punishable by law and urged the public to report any counterfeit currency to the police or the Central Bank.
1737284012913_دليل الاوراق النقدية.pdf
shafaq.com
MILITIAMAN CC HIGHLIGHTS NOTES 20 JAN
MILITIAMAN CC HIGHLIGHTS NOTES
Highlights
Summary
In this Friday night broadcast, the Militia Man and crew discuss significant developments regarding Iraq’s cultural heritage, economic reforms, and international relations. The opening of an Iraq Cultural Center in London, featuring an ancient Assyrian tablet, symbolizes Iraq’s efforts to reclaim its historical artifacts and enhance its cultural presence globally.
Furthermore, the program highlights advancements in Iraq’s banking sector, particularly the shift towards electronic payment systems, which have tripled cash collection amounts.
The Prime Minister of Iraq, Al Sudani, has been actively engaging in international diplomacy and economic discussions, culminating in productive meetings in the UK, where 25 agreements were signed with various companies. The broadcast underscores the importance of legislative reforms and investment frameworks that have been put in place since 2006 to attract foreign investment and stimulate economic growth. The speaker emphasizes the readiness of Iraq to integrate into the global financial system, supported by the government’s ongoing reforms and initiatives aimed at improving the investment climate.
- 🎉 Cultural Heritage: Iraq’s Cultural Center in London receives an Assyrian tablet, marking a significant step in reclaiming ancient artifacts.
- 💳 Electronic Payments Surge: Iraq’s Real Estate Bank reports a threefold increase in electronic payment collections compared to cash.
- 🇬🇧 Strengthening Ties: Prime Minister Al Sudani’s four-day visit to the UK results in 25 signed agreements, enhancing Iraq’s international presence.
- 📈 Economic Transformations: Legislative reforms since 2006 are aimed at improving investment conditions and boosting economic growth.
- 🌍 Global Integration: Iraq is positioning itself for participation in the global financial system, supported by the Central Bank and government initiatives.
- 🏦 Banking Innovations: The development of electronic payment systems is facilitating the transition from a cash-based economy to a digitized financial landscape.
- 🤝 Partnership of Equals: British officials emphasize a new phase of equal partnership with Iraq, highlighting the country’s potential on the global stage.
Key Insights
📜 Cultural Significance: The return of ancient artifacts, like the Assyrian tablet, not only reinforces Iraq’s cultural heritage but also aids in fostering international relations, showing a commitment to preserving history while promoting national identity. This act serves as a diplomatic bridge, enhancing Iraq’s image and soft power on the world stage.
💼 Evolving Economic Landscape: The transition towards electronic payment systems indicates a broader shift in Iraq’s economy, moving from traditional cash transactions to modern financial technologies. This not only improves efficiency but also aligns Iraq with global financial trends, positioning it for future investments and economic collaborations.
🌐 Strategic Diplomacy: Prime Minister Al Sudani’s proactive approach in engaging with international partners, particularly during his visit to the UK, reflects a calculated strategy to enhance Iraq’s economic stature and diplomatic relationships. The signing of multiple agreements showcases Iraq’s readiness to collaborate on various fronts, including economic, political, and environmental matters.
📊 Investment Climate Improvement: The historical context of Iraq’s legislative reforms since 2006 underlines the ongoing commitment to fostering a conducive environment for foreign investors. By streamlining regulations and ensuring legal stability, Iraq is making strides toward becoming an attractive destination for investment, which is crucial for economic recovery and growth.
🔑 Youthful Demographics: With a significant portion of its population being young, Iraq’s banking sector is adapting to cater to a more technologically savvy demographic. The emphasis on electronic transactions and financial technologies is likely to resonate well with younger citizens, promoting a culture of digital finance that can lead to broader economic participation.
💪 Government Support for Banking : The continuous backing from the Iraqi government and the Central Bank is vital for strengthening the banking system. This support facilitates the development of financial services that align with international standards, which is essential for attracting foreign investment and enhancing economic resilience.
🚀 Future Economic Potential: The discussions around the legislative framework for investment, particularly the incentives for both local and foreign investors, highlight the government’s focus on economic diversification and sustainability. By creating a favorable investment climate, Iraq is not only aiming to boost its economy but also to reduce unemployment and enhance overall living standards for its citizens.
In conclusion, the Militia Man and crew’s broadcast presents a comprehensive overview of Iraq’s recent advancements in cultural heritage, economic reforms, and international relations. The integration of modern banking practices and the government’s commitment to legislative reforms signal a hopeful future for Iraq as it seeks to establish itself as a key player in the global financial arena. The insights drawn from this discussion emphasize the importance of strategic partnerships, cultural reclamation, and the necessity of adapting to technological advancements in the banking sector. As Iraq continues on this path, it is poised for potential growth and positive transformation in its economic landscape.
Sudanese consultant: Internal debt exceeds 80 trillion dinars and a plan to gradually extinguish it, 20 JAN
Sudanese consultant: Internal debt exceeds 80 trillion dinars and a plan to gradually extinguish it
The economic adviser to the Prime Minister, Mazhar Mohammed Saleh, confirmed that Iraq’s internal debt exceeded 80 trillion dinars, while pointing out that there is a tight plan to gradually extinguish it by coordinating the two fiscal and monetary policies.
The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram. To subscribe, click here
In minute details, Saleh explained through {Al-Furat News} that: “The main dilemma faced by the country during the past years was the disruption of a number of development projects inherited by the tripartite general budget under Law No. 13 of 2023, which was designed on the basis of the average price of a barrel of oil of $70, and by exports not exceeding 3.4 million barrels per day.”
He added that “these exports were subject to a reduction of about 200,000 barrels per day under the OPEC Plus agreement, which called for resorting to internal borrowing again to implement the lagging strategic projects that had previously been stopped due to financial, security and health crises.”
Saleh pointed out that “the budget provided for an annual borrowing of 64 trillion dinars to face the probable deficit,” pointing out that “the Central Bank of Iraq keeps more than 50% of the internal debt within its asset portfolio, with high coverage in foreign currency, which ensures that there are no inflationary effects resulting from this debt.”
He pointed out that “remittances and bonds, as debt instruments, represent internal assets that have been deducted by the monetary authority, which caused an increase in monetary issuance; but they are completely covered by foreign exchange, despite the high monetary basis and public liquidity compounds in the economy.”
Saleh said to stress that “the annual inflation levels in Iraq are still under control, as they reached less than 3% for 2024,” stressing that “there is a tight plan to extinguish domestic debt and control its growth levels according to the criteria of financial strengthening in the coming years.”
Ragheed
Frank26 : Former banker & Federal bank examiner with the US Treasury - Bill update, 20 JAN
Frank26
[Former banker & Federal bank examiner with the US Treasury - Bill update]
Let me just say what I'm going to do...Say I bank with Chase Bank...I'll Google them, find out where is their private bank division... That's where the upper net worth [people go]...You already know what the rate is going to be.
The question becomes what are they going charge you for a fee. That can be significant, it could be anywhere from 1% to 3%. You want to get it down...It's not locked in. I think it's negotiable.
The more you bring to the table the better negotiating position you're in...Take two people.
Ask for whoever is in charge. Don't talk to anybody else, not a teller, not a customer service representative.
I would set up a meeting and say this is why I'm coming in, this is what I'd like to talk about, when can we get together...Keep it simple. Know the value going in...The only thing you want to do is determine what is going to be their exchange fee and can you negotiate it...I recommend that folks check out two or three different banks...It's going to become very very competitive.
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