KFTA – News, Rumors and Opinions Saturday 10-28-2023



“My Account” in Kurdistan includes a new Iraqi bank in the project


The Kurdistan Regional Government announced, on Friday, that the National Bank of Iraq (NBI) has joined the My Electronic Financial Account project.

The number of banks participating in this project reached five banks, namely (Ashur, Bank of Beirut, BBAC, Cihan Bank, RT Bank, and the National Bank of Iraq (BNI).

This step comes within the framework of the regional government’s continuing efforts to expand the scope of work of the Hasabe project, and thus provide more services to subscribers, beneficiaries, and employees.

This step is in the context of promoting healthy competition in the banking and financial services sector, at a time when the government indicated that it will continue to provide and present clarifications about the fees and offers submitted by these banks.

The Kurdistan Regional Government expects to expand its partnership with the National Bank of Iraq and other banks, and it is hoped that the electronic digital payment system will be implemented for citizens as of the beginning of next year, which will encourage and motivate other banks to participate in the account project.   LINK



 Al-Shammari: The Sudanese will announce next week a banking service that will lead to a decline in the dollar


Advisor to the Prime Minister, Fadi Al-Shammari, revealed that Prime Minister Muhammad Shiaa Al-Sudani will announce next week a new banking service for small merchants that will lead to a decrease in the exchange rate and facilitate their work procedures.

Al-Shammari said in a televised statement, “Those who manipulate the dollar are speculators. The government provides the dollar through official platforms. The government is not subject to blackmail by speculators who seek profit at the expense of citizens. At the beginning of implementing the platform, there were problems related to time, and now the delay has reduced to only three days.”

He stressed that “food supplies were not affected by the rise in the price of the dollar, and the Prime Minister reviews on a daily basis a list of food prices in the local market, and the government provides a food basket for 10 months for citizens, and 12 months for social care,” pointing out that “living issues were definitely not affected by the exchange rate.” The dollar and the government will not allow the exchange rate to affect food prices.”

He pointed out that “the services file is one of the most prominent challenges facing the government as it continues to implement its project. The government is working with an executable strategic plan, and the precise daily follow-up of the Prime Minister is reflected in the great progress in work. The daily follow-up of work has led to work progressing beyond the scheduled schedule, and there are 190 basic and strategic projects.” In Baghdad alone, this is a precedent that has occurred for the first time, and we will see a major boom in the value and quality of projects that will be launched in Baghdad and the rest of the governorates.”

Al-Shammari noted that “this year the government faced serious challenges, including the budget, and some budget items were launched and others are in the process of being launched. In previous budgets, it usually takes 3 months at a minimum to release the budget allocations when the data is completed after its already late approval. We will get rid of the problem of delay and release the budget allocations after approval.” Three-year budget.

He explained that “the government’s wisdom in dealing with various political activities and components is considered its most prominent characteristic, while dealing realistically with regard to resolving files and the coordination framework, which is distinguished by the unity of decision-making that was present in many of its scenes.”

Al-Shammari revealed, “The Prime Minister is making contacts and making an exceptional effort in constructive communication with the leaders and heads of states of the region and the world, and Iraq seeks to mitigate as much as possible the escalation taking place in the region, and what is happening in the region affects Iraq, given that the Middle East is the heart of the world and Iraq is the heart of the Middle East.” .    LINK

Courtesy of Dinar Guru   https://www.dinarguru.com/

Desert Advisor  Kuwait is $3.24 and Jordan is $1.41.  Their currency is worth more than our [U.S.] currency…We look at Iraq…$0.0007.  That don’t even look attractive…The exchange rate was pretty stable until the Gulf War in 1991.  The dinar was worth over $3…We can see that with Kuwait right next door.  Iraq does have a lot of oil.  We’ve known this…

Militia Man  If you’ve been paying attention closely, it isn’t just the oil and gas law anymore.  It’s the oil, gas and natural resources law.  They’re going to add more to it so the citizens are going to benefit from this…that’s all the politicians too. Everybody in the country is going to benefit from it…


Expect ‘Serious Deceleration’ Of Economic Growth Says ‘Father of QE’ | Richard Werner

David Lin:  10-28-2023

Richard Werner, Professor of Banking and Economics at the University of Oxford, regarded as the “Father of Quantitative Easing”, discusses the future of monetary policy.

0:00 – Intro

0:30 – Father of Quantitative Easing

3:54 – Japan and QE

6:20 – Interest rates and growth

10:30 – Money supply

12:16 – Belt and Road Initiative

 18:07 – CBDC