Militia Man
Article quote: "...representatives called...to ban cash payments within the government institutions...This means 80% of paper money will be transferred to cards...
These steps should be implemented increasingly to move cash out of homes and pockets and into banks. "
They're trying to and have been for quite a long time reducing the cash in circulation which is a good thing.
Ali Mashkour joins IBBC from member company MHD International. He is Iraqi British and has been based in Baghdad for the past ten years, working in projects across infrastructure, security, transport and government sectors, managing multi-disciplinary teams and engaging senior stakeholders across both public and private sectors.
In his new role, Ali will work in the Baghdad and Erbil offices, supporting members and the organisation's overall objectives and with our Honorary Member Representative Mohammed Alsaadi and our Honorary Representative for Kurdistan and the South of Iraq, Dr Ali Jawad.
Christophe Michels, MD of IBBC said:
"We are pleased to welcome Ali Mashkour to our team, knowing he has to fill the sad gap that Muhanad Khattab left when he died last month, we have every expectation Ali will bring us new energy and insights to the role, which is of increasing importance to IBBC as our Iraqi membership rapidly grows and are holding more events and conferences in the country."
Ali can be contacted at ali.mashkour@webuildiraq.org
EXCERPTS FROM MARKZ: The Iran rial is going to be in the first basket
Member: Mark, would you happen to have any updates on the Iranian rial?
MZ: No- But my gut feeling is the Iran rial is going to be in the first basket. They are in the same economic area as Iraq. They share oil fields. Ideally the Iranian currency will be close to what the Iraqi currency is going to be.
Member: Mark what currencies do you think will be in the first basket
Member: old list-
1. US
2. UK
3. Kuwait
4. Canada
5. Mexico
6. Russia
7. China
8. Venezuela
9. Iranian Rial
10. IRAQ
11. Indonesia Rupiah
12. Malaysia
13. Vietnamese
14. Brazil
15. Saudi Arabia
16. Qatar
17. United Arab Emirates
18. Turkey
19. Afghanistan possibly
20. India
21. Libya
22. Japan
23. Zimbabwe
Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussein (pictured), has cautioned that the continuation of Israeli and Iranian military operations may lead to the closure of the Strait of Hormuz, which could result in the loss of up to five million barrels per day of oil exports from the Gulf and Iraq.
He warned that this could drive oil prices to $200-300 per barrel, exacerbating the global inflation crisis and negatively impacting both producing and importing countries, including Iraq.
The Minister made his comments during a phone call with Germany's Federal Minister for Foreign Affairs, Dr. Johann Wadephul.
(Source: MoFA)
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