“The Pressure is on again” – Wed. PM KTFA Thoughts, News w/ Frank26, MilitiaMan 9-22-21

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KTFA

Frank26 » September 22nd, 2021

(See article below) “THE NATIONAL PRODUCT ……….. IS THE NATION’S CURRENCY …………. HE IS HINTING AT THE NSCN’S. ALSO …………… THIS IS A POLITICIAN FROM PARLIAMENT TRYING TO BUY VOTES VIA THE MR AND ER.

ALSO …………’LORD OF THE LAND’ IS …………. THE CITIZENS OF IRAQ. ALSO VERY IMPORTANT …………… TO END THE ‘EXTERNAL OCCUPATION’ ……….. IS A KEY YOU SEE ………….. WHEN GERMANY…………… ‘OCCUPIED’ …………… OTHER NATIONS IN EUROPE ……………. THEY TOOK AWAY THE SOVEREIGNTY OF THAT NATION ……………….

THIS POLITICIAN IS SAYING THE CBI IS NOW IN TOTAL CONTROL OF ITS NATION’S ………………
CURRENCY ……………………..NO ONE OUTSIDE OF IRAQ NO LONGER HAS CONTROL OF THE CBI AND THE IQD !!! !!! !!!”…….. F26

Al-Amiri promises the “Lord of the Land” a promising plan and pledges to end the “occupation of the dinar”

18th September, 2021

The Secretary-General of the National Producer Gathering, Jassem Al-Amiri, launched his electoral campaign for the early parliamentary elections scheduled for the tenth of next October, listing his step within the framework of “change” and a promise to reform the agricultural and industrial sectors and end the occupation of the Iraqi dinar.

Al-Amiri said in a statement, received by the “National News Center”, that “we have a few days to choose one of the two paths, the first is actual and practical reform, and the second is for the situation to remain as it is now.”

He added that “the first path, despite its difficulty and rugged roads, is the approach adopted by the National Producer’s Assembly,” stressing “the determination of the National Producer Group” to achieve actual reform through the ballot boxes, and our plan in this is to develop the agricultural sector and for the Iraqi farmer to be the master of the land and its producer.

And he indicated that “the plan includes the development of the industrial and banking sectors, accompanied by the practical sovereignty of the national product,” pledging to “end the external occupation of the Iraqi dinar by certain and specific countries.”  LINK

“THE CENTRAL BANK OF IRAQ IS NOT WAITING UNTIL NEXT YEAR”………..F26

Finance talks about the salaries and promotions of employees

19th September, 2021

The Parliamentary Finance Committee confirmed, on Sunday, that the employees’ salaries are secured and that the financial surplus allows for the release of upgrades, noting that if the experience of the Central Bank fails to reduce the exchange rate of the dollar, the trend in the coming years will be towards re-exchange to the old rate.

Committee member Naji Al-Saeedi said in a press statement, “The salaries of employees in the current budget are absolutely secured, and there is a surplus and there is no deficit in the budget, and this surplus can be used to launch bonuses and employee promotions, and most ministries’ budgets allow this.”

Al-Saidi added, “Special job grades will be launched for all ministries in the next budget,” noting that “with regard to promotions, as we know, they have been suspended for years, but most ministries allow promotions, including the Ministry of Education, and there is a plan in the rest of the ministries, and the financial allocation for the rest of the ministries will be provided and launched in next years”.

As for the price of the dollar, the committee member explained, “It is a governmental issue that has nothing to do with the House of Representatives, and it is an arithmetic issue through calculating the general revenues of the budget,” stressing that “if there is a failure in the experience of the Central Bank about reducing the exchange rate of the dollar against the dinar, the trend will be in the coming years are about changing the exchange rate and bringing it back to its previous era, by allocating the price of the dollar and selling it in the markets in order to stabilize its exchange rates.”

With regard to contracts, Al-Saidi said that “according to the text of the law, those who have completed five years will be fixed on the permanent owners, and those who are not confirmed, this is due to the issue of local revenues because their budget is self-balancing.”   LINK

MilitiaMan » September 22nd, 2021

Iraq’s position in the Fintech Industry Index FinxAr: LINK

In the wake of three industrial revolutions that the world witnessed, our world today lives in the era of the fourth industrial and technological revolution, which is based on unprecedented developments in the field of communications, information networks, digital technologies, big data, currencies, digital wallets, digitization of accounts, payments, chain of large data, the use of digital identity and electronic signature…etc.

Accordingly, the search for and application of these technologies in the implementation of transactions and how to use them has become not an intellectual luxury as much as it is an inevitable necessity imposed by the developments of the technological revolution.

Modern financial technologies Fintech are products and services that rely on modern technology to improve the quality of traditional financial operations or have an impact on financial institutions, including electronic payment applications, virtual currencies, digital identity, electronic signature and eKYC model. in the lives of societies and individuals.

The annual General Index of Modern Arab Financial Technologies (FinxAr) aims to stand on the efforts of Arab countries in supporting the development of the modern financial technology industry, and to contribute to setting a vision for the modern financial technology industry in Arab countries and how to support the incubating environment for it, and to shed light on the challenges facing the development of the modern financial technology industry. 

The indicator is the first of its kind at the level of dimensions it deals with to measure its efforts to enhance the incubating environment for modern financial technologies.

This axis is represented by legislation, laws, rules, regulations, institutional framework and supervisory bodies responsible for these activities and the extent of their governance, as well as packages of national programs, initiatives and strategies necessary to build an environment that incubates modern technologies.

Increasing access to digital finance and other associated technologies and increasing the use of smart devices as incubators for financial innovations.

Day 1, 22nd September 2021

10:00 – 12:00OPENING MINISTERIAL WELCOME & VIP SESSION

H.E Professor Ali Allawi, Minister of Finance & Deputy Prime Minister

H.E Mustafa Ghalib, Governor, Central Bank of Iraq

H.E Suha Najjar, Chairwoman, National Investment Commission

H.E Salem Chalabi, President & Chairman, Trade Bank of Iraq

12:30 – 13:30IRAQ’S FINTECH REVOLUTION

How can the banking sector fast-track FinTech into their business model?

Adopting FinTech platforms as a source of legal and financial compliance.

Where does Iraq stand as a FinTech provider? Key FinTech technologies in Iraq.

Creating a legal ecosystem that enables FinTech’s to thrive and banks to digitize.

14:30 – 15:30 MOBILE BANKING SOLUTIONS FOR IRAQ

How can Iraq accelerate the development of electronic banking & mobile banking? solutions?

Secure Mobile Payments & the role of 5G to accelerate mobile banking practices.

Digital lending and loan platforms for a mobile market.

New innovations and technologies to satisfy the Iraqi market.

Cross border international technology: Innovation for mobile international payments. (See link to last day of Expo 09/23/2021 for additional data).

Adviser to the Prime Minister: The 2022 budget will be distinguished by something important, and we do not rule out surprises

08/29/2021 11:36:08

.” Saleh pointed out, “Circumstances are changing, and there may appear surprises, as it relied on an oil price of 50 dollars per barrel, according to what was announced by the Ministry of Finance.”

And Finance Minister Ali Allawi announced last Thursday (08/26/2021) the completion of the preparation of the draft financial budget law for 2022, and that it will be presented within 3 weeks to the Council of Ministers.  

The budget for the year 2022 will be completed within 3-4 weeks (08/29/2021) and presented to the Council of Ministers, expecting to submit it to the next parliament.

Finance Minister: We have started reform, and we need everyone’s concerted efforts.

We are moving towards offering treasury bonds for trading in the Iraqi Stock Exchange,

He said: {Reform of government performance and the economic system is inevitable, and far from it we cannot create an incubating environment for the economy}, pointing out that we have begun a real reform of government institutions, banks, customs and taxes, in order to manage Economy”.

LINK

It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45, using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar.  Iraq against the dollar.”

LINK

The Federal Court sets the date for the decision to appeal the budget.

The court had set September 19 as the date for hearing the budget appeals. (today)

channel and followed by “Al-Iqtisad News”, that “the 23rd of this month has been set as the date for the issuance of the decision to challenge the budget. (Thursday)

LINK

Al-Amiri promises the “Lord of the Land” a promising plan and pledges to end the “occupation of the dinar”

The Secretary-General of the National Producer Gathering, Jassem Al-Amiri, launched his electoral campaign for the early parliamentary elections scheduled for the tenth of next October, listing his step within the framework of “change” and a promise to reform the agricultural and industrial sectors and end the occupation of the Iraqi dinar.

And he indicated that “the plan includes the development of the industrial and banking sectors, accompanied by the practical sovereignty of the national product,” pledging to “end the external occupation of the Iraqi dinar by certain and specific countries.”

From the amount of convergences we see above they timing is clearly in our favor for an exchange rate change.  The are openly talking about digitization and with currencies being apart of the future outlook and much more.

There are clear time frames being talked about. They are their words and not mine.

I suggest one reads the snippets and take in the chronology of events seriously. They are profound in correlation and timing. The process to digitize is inevitable. It is new and is at incubator status.

That means ground floor to investors. Thus, the new economic environment is ripe to grow and big time!

The environment will need the exchange rate to be with out occupation. As, in not at a program rate

. They even tell us so and that specific countries have had a hand in keeping the exchange rate occupied. They had to to get this to where we are now. A place where Iraq goes digital and international. 

They even told us that it is inevitable and that they already have it in the cards to evaluate oil pricing in Dinar. Digitizing Iraq at a program rate is not in those cards, in fact it won’t work.

Digitizing and Block Chain technology, the most advanced systems in the world will require a level playing field. A program rate is not on one.

The 2021 Budget Amendments were said to be slated for the 14th of September, though on the 17th they told us they postponed  that until today. Today they told us they heard the appeal and will decide on the 23rd. Well, above we see events on the 22-23rd at the EXPO. Look who is in the line up.. It is the PTB in finance in Iraq.

All of the work in the White Papers PM Kahdimi laid out on 08/22/2021 are about what we are witnessing now.

 A digital transformation that will be global is fully underway and cannot stop, imo.. They are going to end the occupation of the DINAR and that means they are to have practical sovereignty over their national product, their currency!!!

That is what I see.. I hope you all do as well. Lets see if we get a surprise and they show just how sovereign they really are prior to the 23rd. ~ MM

Samson » September 22nd, 2021

Parliamentary warnings of an “explosion of the situation” in central and southern Iraq

21st September, 2021

The Parliamentary Economy and Investment Committee warned today, Tuesday, of an explosion in the street in central and southern Iraq due to the deteriorating living conditions and the spread of unemployment in society.

Committee member Nada Shaker Jawdat told Shafaq News Agency, “The street in central and southern Iraq is close to an explosion, due to a frightening increase in the unemployment rate, and a decline in the economic situation in various fields, and the reason for this raised the exchange rate of the dollar against the Iraqi dinar, which increased the prices of Iraqi markets. This affected the citizens significantly, as well as contributed to raising the unemployment rates.”

And she indicated that “the Iraqi government is required to develop quick plans to address the economic situation in central and southern Iraq, as well as find real solutions to the issue of the high unemployment rate in these cities, before the Iraqi street explodes, due to the economic situation that it has been going through for a long time.”

The Central Bank of Iraq had decided at the end of last year to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to one dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration of oil prices.

The devaluation of the local currency against the hard currency was reflected in the prices of goods and merchandise, especially imported ones, in Iraq, as it witnessed a remarkable rise, which burdened the low-income and the poor.

Iraq relies 90% of its income on oil revenues, and the last time it devalued the dinar was in December 2015 when it raised the selling price of the dollar to 1182 dinars, compared to 1166 dinars in the past.

The Central Bank launched its decision regarding the new pricing for selling the dollar in a public currency auction on the 20th of last December. Iraq is under great pressure under the weight of the worst economic crisis it has witnessed since 2003 until now due to low oil prices and the outbreak of the Corona virus.  LINK

MilitiaMan » September 22nd, 2021

The pressure is on again and the timing ahead of elections is probably going to need to be addressed long before vote day. Just as the effects of the devaluation have had significant negative impact. Key elements that will have profound effects leading up to the election.

The PM and CBI can fix that quickly imo, possibly once a decision is made from the court on the 2019 FMLA – 2021 Budget that is set for the 23rd, Thursday that coincides with the EXPO completion day and the Jordan Delegation follow up to the tripartite Baghdad summit. (The latter was also mentioned in respect to the side bar UN meetings yesterday.) That is if a decision needs to be made by the court, as there is indication, there is no need. So the theory out there we are waiting in elections, is not in the cards imo.. ~ MM

Source: Dinar Recaps

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