Thursday, January 25, 2024
Iraq Launches Electronic Cards For Small Merchants To Confront The Dollar Crisis , 25 JAN
Iraq Launches Electronic Cards For Small Merchants To Confront The Dollar Crisis
January 24, 2024 Last updated: January 24, 2024 Al-Independent/- Yesterday, Tuesday, the Iraqi government issued a new mechanism for issuing electronic cards to small merchants, based on the directives of Prime Minister Muhammad al-Sudani.
This mechanism aims to reduce the demand for cash dollars by real traders, and enhance the role of banks in financial transactions.
The new issuance mechanism includes the following:
Payment companies submit a request to the Central Bank to obtain approval to create this product and launch the (merchant) card.
Determining the uses of cards for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023.
The ceiling for these cards shall not exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual implementation.
The cards are used for the purposes of purchasing goods and services from known suppliers under pre-defined whitelists.
The company bears its duty to apply due diligence and in accordance with basic requirements, the most important of which are the main international ban lists of the United Nations, the Office of Foreign Assets Control and the European Union.
Small merchants' money is deposited in various Iraqi bank branches in dinars.
Experts believe that this new mechanism will contribute to achieving the desired goals, through:
Facilitating the external transfer process for small merchants, which will reduce the demand for cash dollars.
Strengthening the role of banks in financial transactions, thus reducing black market exchange operations.
Monitoring external transfer operations, which will help in the fight against terrorism and corruption.
This step comes within the framework of the efforts made by the Iraqi government to address the dollar crisis in the country. https://mustaqila.com/العراق-يطلق-بطاقات-إلكترونية-لصغار-ال/
"RV UPDATE" BY GOLDILOCKS, 25 JAN
Goldilocks and Seeds of Wisdom
A Rewiring of the World’s Biggest Bond Market Will Transform Trading
“Securities and Exchange Commission Chair Gary Gensler, who once oversaw federal debt management at the US Treasury, has championed a move to require the vast majority of Treasuries trading to migrate to a central counterparty clearinghouse — an intermediary between buyers and sellers that assumes ultimate responsibility for the transaction.”
This movement of the Bond Market or US Treasuries to a Central Clearing House for Market transactions creates a burden of care upon the dealers to screen their clients more carefully in trading transactions between two parties such as foreign currency trades.
This will create less liquidity taking place in a trade, but the ability to collateralize one’s transactions will secure all parties involved. It will shift a lot of responsibility toward the Commodities Futures Trading Commission (CFTC) where many of our new tokenized assets going forward will be governed.
This is all part of the new transition of the markets into a new digital economy.
Yahoo Finance
© Goldilocks
Coffee with MarkZ. 01/25/2024
BREAKING NEWS: After the reports from Syria, report on US withdrawal from Iraq as well, 25 JAN
BREAKING:
After the reports from Syria, report on US withdrawal from Iraq as well The U.S. and Iraq will begin talks regarding the full withdrawal of all American military presence in the country – CNN The Iraqi Foreign Ministry has received 'an important message' from the United States; Iraq says it will take the 'necessary steps and preparations', the content of the message has not been disclosed, Tasnim media reported.
The US is planning to withdraw its forces from Syria - Foreign Policy
The US has been under constant attack in Syria for months and American troops are very vulnerable there because, unlike Iraq, the US has no ties with the central government in Syria.
“Since brutal attack against Israel on Oct. 7 and the resulting Israeli military campaign in the Gaza Strip, tensions and hostilities across the Middle East have reached fever pitch. And with such a complex regional crisis playing out, it should not come as a surprise that the Biden administration is reconsidering its military priorities in the region.
It should be cause for significant concern, however, that this could involve a full withdrawal of U.S. troops from Syria. While no definitive decision has been made to leave, four sources within the Defense and State departments said the White House is no longer invested in sustaining a mission that it perceives as unnecessary.
Active internal discussions are now underway to determine how and when a withdrawal may take place.” - the media wrote.
t.me/megatron_ronJUDY NOTE, 25 JAN
Judy Note:
Implementation of the pending BRICS nations Global Currency Reset will dissolve Cabal Central Banks across the World and take away their fiat money supply, which they aren’t happy about. In response to the pending Black Swan Events the Military has declared DEFCON One, while the National Guard has been put on High Alert in all 50 states.
As of Thurs. 25 Jan. the Navy has deployed ships across 22 Time Zones awaiting a Green Light. Europe was mobilizing for war. Activation of a worldwide Emergency Broadcast System was in the air that would bring in Martial Law across the Globe.
