More News, Rumors and Opinions Monday PM 3-18-2024

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CandyKisses: A holiday in Iraq on the occasion of Nowruz

Shafaq News / The Iraqi government announced the suspension of official working hours in state institutions next Thursday on the occasion of Nowruz.

The General Secretariat of the Iraqi Council of Ministers said in a brief statement received by Shafaq News Agency that it was decided to disrupt official working hours next Thursday in all government ministries and institutions in conjunction with Spring Festival “Nowruz”.

The Kurdistan Regional Government, also on the occasion of Nowruz, decided to suspend official working hours on Tuesday, Wednesday and Thursday.

Tishwash:  Economists: Citizens still prefer cash transactions over electronic transactions

Economic affairs specialists criticized the lack of infrastructure for electronic payment services in many departments and institutions, and confirmed that most citizens still prefer cash transactions over electronic transactions.

Economist Manaf Al-Sayegh told Al-Sabah: Electronic payment is a globally recognized technology that can be used without the need to carry paper money or coins, as the world today no longer needs paper payment or the use of coins, so we find it approved through the use mechanism. A credit card that enables its holder to pay anywhere.

He added that the need arises today for all financial operations to be transformed according to a banking system that adopts the principles of automation and dealing with electronic payment (MasterCard) or (Credit Card), as it facilitates banking operations and transfers and gives an element of speed in financial performance, pointing out that there is a value that is sometimes imperceptible. But the quality of the system in financial transactions between customers and the lack of difficulty, whether at the level of individuals or companies, give these advantages value for dealing according to the automation system.

Al-Sayegh pointed out that most institutions and companies currently deal according to the electronic payment system, and even malls and stores with limited capital deal according to this system for the purpose of financial facilities and raising performance, adding that there are some obstacles, including the lack of infrastructure in many departments and stations for this service, stressing. There is a need to prepare these systems by the Ministry of Finance and the Central Bank, as the country was late in introducing this service, which has been used in most countries for decades, especially the card service through mobile phones.

He noted the necessity of disseminating payment points (POS) in their modern form to obtain the best service in multiple places, and obligating all departments, institutions, and
shops to use them to benefit everyone.

He stressed that dealing with electronic payment enables controlling transfers and not taking the currency anywhere without the knowledge of the state, so it can be used as a security element to prevent currency leakage.

In turn, Imad Al-Mohammadawi, who is interested in economic affairs, called during his speech to “Al-Sabah” for the necessity of spreading the culture of electronic payment among the segments of society, pointing out that most citizens prefer cash transactions over electronic transactions because they have become accustomed to this method, believing that it is better.

Al-Muhammadawi pointed out the necessity of encouraging, supporting and facilitating dealing according to this new mechanism for citizens with the aim of attracting many customers according to this method, which is considered universal and one of the approved methods in all aspects of life, because of the safety it brings in not carrying lumps of cash in daily transactions.

It is noteworthy that the Deputy Governor of the Central Bank, Ammar Khalaf, explained in the first Iraqi Digital Economy Forum that “the digital financial transformation began with the localization of employees’ salaries and the opening of bank accounts, the primary purpose of which was the use of electronic payment in daily transactions, whether inside or outside the country,” and he pointed out that “some The ministries responded quickly to the directives of the Central Bank and the government, especially the Ministry of Oil by making collections at gas stations and others done electronically, as well as the Passports Directorate, which required that payment be electronic, in addition to the General Traffic Directorate and other ministries. link

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

Walkingstick  Iraq is indeed ready but the USA still has multiple conditions for release in the region which are presently being satisfied.  We are getting to the end of the game which could monetarily finish as Iraq is going public to force a potential release.  It is any minute, any second time frame.

Mnt Goat   So according to Shafaq News/ The Parliamentary Finance Committee discussed, on Thursday, with the Central Bank of Iraq, the monetary policy and banking system in the country and ways to increase the value of the Iraqi dinar. I quote from the article – “to ​​discuss monetary policy, the banking system in the country, and ways to increase the value of the Iraqi dinar.” Folks I don’t know about you but this article was WOW!

Need the budget 2024

Nadeer:  318-2024

https://youtube.com/watch?v=I6MnlWjf5c8%3Ffeature%3Doembed%26enablejsapi%3D1

BRICS Blockchain will Swiftly Replace the US dollar

Trip Bitten:  3-14-2024

Russia just announced the creation of blockchain-based payment system in BRICS. This new system will help BRICS nations bypass SWIFT and help create a new trading currency.

 I talked about this in the past and now we are seeing the BRICS take action. I think it will be built out over the next few years and will provide many nations with another option for international trade and payments.