KTFA – More News, Rumors and Opinions Thursday Afternoon 2-22-2024


Clare:  Prime Minister: The government has placed the issue of economic and banking reform among its most important priorities

2/22/2024  Baghdad

Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Thursday, that the Iraqi government has placed economic and banking reform among its most important priorities, indicating its endeavor to welcome work in this field.

The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Al-Sudani received, this afternoon, Thursday, the regional president of Visa, in Central and Eastern Europe, the Middle East and Africa, Andrew Toure and his accompanying delegation.”

The Prime Minister stressed, according to the statement, that “the government has placed the issue of economic and banking reform among its most important priorities, and it seeks and welcomes cooperation in this field,” pointing to the approval of the electronic payment system in the Council of Ministers, praising the company’s cooperation in expanding electronic payment technology and digital transformation, Whether through training workers in Iraq or by contributing to education for the electronic payment process.”

For his part, the regional president of Visa expressed “the desire to continue cooperation with the Central Bank of Iraq and all Iraqi banking sector institutions,” noting that “Visa’s interest in supporting the Iraqi government’s plans towards electronic payment and economic and banking reform, by offering advanced solutions and technologies.” To the market, as well as its readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from points of sale for electronic payment in Iraq.   LINK


Clare:  The outlets seized money in Iraqi dinars and dollars whose owners tried to smuggle them out of the country


On Thursday, the Border Ports Authority announced the seizure of funds in Iraqi dinars and dollars whose owners attempted to smuggle them out of the country.

A statement by the authority, seen by Al-Iqtisad News, said: “The Trebil border port was able to arrest an Iraqi traveler in possession of (7) MasterCard cards at the departures checkpoint without declaring them, and after examining them with the POS machine at the Civil Customs Center, it was found that the total amounts amounted to (52,829,000) fifty-two million eight hundred and twenty-nine thousand Iraqi dinars.”

The statement added, “The Shalamcheh border port was able to arrest an Iraqi traveler in the departure hall who did not have official documents in possession of (62) thousand US dollars. He tried to smuggle it by concealing it in a professional manner.”

He pointed out, “Their statements were duly recorded and they were referred, along with the seized items, to the competent judicial authorities to take legal measures against them.” LINK


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

Jeff   Why the timing of the rate change has anything to do with a budget period?  Here’s why…Countries calculate their budgets off the value of the currency.  In order for them to approve a budget, whatever currency value they’re going to utilize has to be released publicly…That means the rate has to change before the budget can be approved…Kuwait changed their rate on March 24th of 1991…before their April 1st budget period.  It’s that simple.

Frank26  Article: “ACCESSIONS 12th China Round Table on WTO Accessions ARAB PERSPECTIVES ON WTO ACCESSIONS AND THE MULTILATERAL TRADING SYSTEM”  I love the word ascension… WTO…Can you tell me who you are ascending in the WTO?  Article quote: “Algeria, Comoros, Iraq, Lebanese Republic, Libya, Somalia, Sudan and the Syrian Arab Republic are in the process of Article XII accession“.  This is a lot for the monetary reform of the Iraqi dinar that would bring forth the economic explosion reform of Iraq…This is wonderful.

Iraq owning up international

Nader:  2-22-2024


BRICS NEW WIN: Egypt Ditches US Dollar and May Return to Gold Backed Currency

Lena Petrova:  2-22-2024