FIREFLY:Another person is on the news saying the oil issues with prices will have no effect on the budget at this time and would have to drop to $50 to even consider any issues.
This is good news.
Apparently they must have a new exchange rate.We in the streets are asking where's article 12-2C relating to the oil not being published yet because the moment they show that to us they're going to release the new rate.
It's like they're still holding it back on purpose.
Al-Sudani Stresses The Importance Of Simplifying Administrative Procedures That Hinder Investment Projects
Money and Business Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani stressed on Sunday the importance of simplifying administrative procedures that hinder investment projects.
The Prime Minister's Media Office stated in a statement received by Al-Eqtisad News that "Al-Sudani chaired the regular meeting of the Higher Committee for Reconstruction and Investment, during which the files and projects on the agenda were discussed and decisions made."
He stressed "the need for the committee to work on reducing administrative steps and strengthening the country's investment environment," emphasizing "the importance of ministries focusing on investment projects that maximize the country's revenues, which is part of the government's approach to financial and economic reform."
The meeting witnessed the approval of several housing projects, as well as the establishment of the largest olive farm in Wasit Governorate by an Iraqi-Spanish investment company. This project is one of the outcomes of the Prime Minister's visit to Spain at the end of last year, during which he met with the President of the World Olive Council.
The meeting discussed "a number of health projects, including the establishment of an early cancer screening center. The Ministry of Health directed that the project be studied and submitted to the Investment Committee." https://economy-news.net/content.php?id=54869
In the Middle East...they're talking about a new exchange rate and the heavy talk they were dealing with was that maybe...a new rate was coming out at around $1.32.
I don't now. I have no idea what the rate will be but I do know the IMF and the World Bank is working with the CBI and the US Treasury to bring purchasing power to their currency.
When? I don't know. All the evidence is in the articles.
Action: Launching an electronic platform for paying social security contributions.
Local | 05:23 - 04/27/2025 Mawazine News – Baghdad The Ministry of Labor and Social Affairs clarified, on Sunday, the conditions for granting a retirement pension to workers and the required years of work, while confirming the launch of an electronic platform for paying social security contributions.
Ministry spokesman Hassan Khawam said: "The retirement and social security law for workers, which was enacted during the current parliamentary session, is one of the most important laws. Among the conditions for inclusion are that the worker be of Iraqi nationality, residing in Iraq, and of legal age (63 years or older), and have guaranteed service with paid contributions for a period of no less than 15 years."
He added, "The law stipulates that the social security retirement pension may not be combined with any other retirement pension."
Khawam explained that "there is also an optional guarantee for every person working in liberal professions such as a barber, taxi driver, or street vendor. They can participate in social security voluntarily by paying monthly contributions within 15 different categories, starting from 17,500 dinars up to 87,500 dinars, in exchange for retirement salaries ranging between 500,000 and 1,750,000 Iraqi dinars. All workers are covered by the retirement salary without exception.
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He pointed out that "other benefits provided by the law include paid sick leave, free medical care, in addition to a full or partial disability pension and maternity leave for pregnant women with the provision of health care."
He stressed that "the Ministry of Labor has inspection teams that visit investment projects to ensure workers are registered with social security and verify their numbers. In the event of a violation, the employer is subject to a fine that may reach five times the unpaid contributions."
Khawam pointed out that "the subscription deduction system has become electronic through the "Daman" platform, with a deduction rate of 5% of the worker's income, while the government bears 8%, and the employer 12%."
He explained that "the disbursement of retirement salaries is contingent upon reaching the legal age (63 years) with subscriptions of no less than 15 years, or early retirement according to the specified age and service conditions."
He explained that "the ministry is working with its social partners and local and international labor organizations to develop labor and social security laws, with the launch of awareness campaigns that have led to a large turnout of workers, especially in the field of optional insurance."
Regarding health insurance, he indicated that "covered workers pay only 10% of the cost of medical services, whether under optional insurance or in the organized sector." https://www.mawazin.net/Details.aspx?jimare=260935
Iraqi Dinar Breaking News: Major IQD Change Expected at 8 AM Today
Dinar investors, the moment you’ve been waiting for may finally be here! A wave of anticipation is sweeping through the Iraqi Dinar (IQD) investment community following reports of a potentially significant change expected to occur at 8:00 AM on Monday morning. Credible sources are suggesting backend system activations and new operational directives stemming from the Central Bank of Iraq (CBI), igniting fervent speculation about a possible revaluation of the IQD.
This development, if confirmed, could represent a pivotal moment for those holding Iraqi Dinar, potentially triggering a long-awaited return on investment.
While official confirmation remains elusive, the current buzz centers around leaked information regarding the timing and potential impact of the rumored changes. While specific details about projected rates are circulating, it’s crucial to approach these with caution until verifiable information is released by official channels.
However, the reports highlight potential changes that could impact the global financial landscape, particularly for holders of Iraqi Dinar.
Adding fuel to the fire, there are whispers of activity within major financial institutions. According to unconfirmed reports, banks like Chase, Wells Fargo, and HSBC are reportedly activating their foreign currency desks and preparing for appointments related to currency exchanges. While these activities haven’t been officially confirmed by the institutions themselves, they are being interpreted by many as a sign that something significant is on the horizon.
While the reports are generating significant excitement, it’s essential to remember that these developments are still unfolding, and official confirmation is pending. It’s crucial to approach this news with a healthy dose of skepticism and avoid making impulsive decisions based solely on speculation.
The coming days promise to be critical for Iraqi Dinar investors. Staying informed, seeking professional advice, and exercising caution will be paramount in navigating this potentially transformative period.