“More Mechanisms” – Thurs. PM KTFA Thoughts, News w/ MilitiaMan 5-27-21

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KTFA

Don961 » May 27th, 2021

An invitation to issue a digital currency with official controls

Thursday 27th May 2021  Baghdad: Mustafa Al-Hashemi

At the global level, speculation in digital currencies has achieved imaginative gains and wealth for its dealers, but despite these gains, they are not without the risks of containing gates or outlets for corruption and money laundering, because speculation in them is often far from the financial control of countries that allow dealing with them

Iraq is keen not to open the way to such transactions, but there is a call to launch an electronic currency for the central bank (as secured bonds) to satisfy the desire of the new generation to speculate with a real currency that operates under the controls of the central bank.

The Central Bank had earlier launched the digital enrollment service, which is the first of its kind in Iraq and the region, which is an integrated digital system that enhances independence and freedom from traditional financial systems, and works to transform Iraq into a country less dependent on cash, which enables it to fight Corruption, evasion and bureaucracy in financial dealings within banks operating in Country.

Despite the spread of a number of websites for companies in Iraq that promote dealing in virtual cryptocurrencies, which countries deal with in which speculation is permitted, specialists called for secretly monitoring the work of those companies and offices spread in the regions of Iraq, despite the Central Bank’s warnings against subjecting dealers to the provisions of the Anti-Money Laundering Law .

Academic economist Dr. Majid Al-Baidani said: {Electronic currencies are virtual currencies that trade on the Internet only, without a real existence for them, and this alone is an advantage that makes it vulnerable to being a front For money laundering and terrorist financing}.

Al-Baidani added to {Al-Sabah} that {the central bank prohibits dealing with it because it is not issued by any central bank in the world. It is also used for online purchase and supports payment using Bitcoin cards or may be converted to traditional currencies in some cases}.

A statement by the Central Bank was issued in 2017, warning against dealing in Bitcoin because it contains risks that may arise from its circulation, and despite the lack of popularity in Iraq, but the Central supports subjecting its dealers to the provisions of the Money Laundering Law No. (39) of 2015 and the laws related to this. Of particular.

In turn, economic researcher Aya Adel suggested issuing a special Iraqi electronic currency for trading via the Internet, provided that it would be subject to control and follow up on the movement of the funds circulating in it.

And she saw that this {will keep those dealing with it away from suspicions of money laundering and make it as electronic secured bonds that can be sold at an interest rate or discount to satisfy the desire of the new generation and their thirst for trading, selling and buying via the Internet.   LINK

MilitiaMan » May 27th, 2021

Look, more mechanisms gearing to be in circulation. The CBI is going to have control over their digital currency and it will keep people safe from the Money Laundering Law.

I’ll suggest that the BUNA meeting and the Arab Digital Transformation Summit was all about digital currencies and where the collaboration was about the tax evasion issues regarding crypto currency, among many other issues.

This is not a new concept to have control over the movement of money. Thus, the move toward what I have mentioned in the past, that skirting the Central Banks is not a good idea.. They’ll not take it sitting down.

Now they tell us they effectively infiltrated the companies in Iraq’s markets that have been doing it.

The next move for the CBI is to release the new Digital Dinar that will compete and trade with many others in the region and the USA…All being cleared through FINTECH / BLOCKCHAIN technologies..

I see big things in the CBIs front yard. Look at the Mosul Branch going Digital, today in the news. Wow… A big move and now it appears the stage is set.

Kahdimi  has been speaking out and so has the CBI and Financial advisors.. Very good to see… imo !~ Hold on and keep a close watch. ~ MM

Source: Dinar Recaps


Samson » May 27th, 2021

Iraq is a deputy for the Middle East Committee for World Tourism Systems

05/27/2021 13:45:53

Iraq won the confidence of Arab and regional countries participating in the work of the forty-seventh meeting of the Middle East Committee for World Tourism Systems, which was held in Riyadh.

A statement by the Ministry of Culture, Tourism and Antiquities, of which the Euphrates News Agency received a copy, stated that “Iraq has been elected to the position of Vice Chairman of the Committee, while Egypt was elected to chair the Regional Committee. Lebanon also elected a second deputy with the approval of the Kingdom of Saudi Arabia to host the next World Tourism Conference.” He added, “Iraq was re-elected at the request of the Iraqi delegation after negotiations with a number of ministers of the countries participating in bilateral meetings.”

The meeting was launched in Riyadh today, Thursday, with the participation of the Minister of Culture, Tourism and Antiquities, Hassan Nazim, and the ministers of a number of Arab and regional countries.

LINK

Source: Dinar Recaps

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