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KTFA
Samson » June 23rd, 2022
In The Document.. The Signatures Of More Than (100) Deputies Were Collected To Reduce The Exchange Rate Of The Dollar Against The Iraqi Dinar
23rd June, 2022
Translation ……
Greetings… Based on Article (61 Seventh-c) of the Iraqi constitution and Article (56) of the internal system, please include the issue of reducing the price of the dollar in the earliest possible session, according to constitutional reasons, and because of the economic repercussions that are taking place in the country and the collapse of the currency and its impact on Iraqi citizen.
With much thanks and appreciation. LINK
Tivon » June 23rd, 2022
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Does anything else have to be added? And people thought today was going to be a slow burn into another day where things seem to dissipate into the air without any clear signs about where we are hoping the political impasse would clarify things that doesn’t even require a formation of anything other then what is already ready for reinstatement.
I told you all yesterday I will die on the hill I climbed that allowed me to get the vantage point I have that has guided me up until this point where I am along with Petra & Militia-Man being validated on a continous basis when we say the provisions in the EFSL can not happen without a rate change.
And what are we looking at today? Are you all ready? Are you prepared to enter a new economy class? Do you have your affairs in order? You are at the doorstep of brand new opportunities you never had before. Be thankful that God brought you this far. You are here now.
Take a break, and go do some follow ups on things that will help you achieve all of your goals. Research and plan your next move. You can’t go any farther in this investment at this point. Nothing new can be added to this study.
You did a good job. Pat yourself on the back. Be proud of the fact that you stuck it out despite the set backs, delays, and postponements. It doesn’t matter anymore at this stage. You made it. Doesn’t it feel good that you were lead to this part of your investment where things actually started to make sense once this EFSL was explained and expanded upon once you understood it’s roll?
How long has it been since you had such clarity that remained this consistent this long that is leading you to a real conclusion? You are not being jerked around anymore. You are not lost anymore. No one can take what has been presented to you for the past few months. Why? Well read the article.
We are just about over the hill now. Congrats. IMO
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Ferrariman » June 23rd, 2022
MO…..by law, the 15 days since EFSL was passed( but no signature by President nor entered into Gazette) AUTOMATICALLY becomes law..correct or not?
GodLover » June 23rd, 2022
Theoretically yes. Iraqietically (new word lol) maybe.
JamieO » June 23rd, 2022
IMO… YES It becomes law. But it needs to be announced in the Gazette before it can be implemented.
DeepWoodz » June 23rd, 2022
Imo Some facts that don’t rely on ego or desperation.
***ATM’s, ATM’s, ATM’s
***New currency given to CBE Governor to view, touch, and go “Would you look at that!!”.
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***A law has been passed by THIS government that is synonymous with the general budget in some special way.(EFSL)
***This years budget that Allawi said is nothing like last years.
“ Allawi pointed out that “the economic outlook in which the government deals according to the budget law for the year 2021 and cannot be continued because our vision differs for 2022.“
***We know they have completed the budget and raised the price of oil to $90 a barrel.
“The general budget for 2022 was prepared by the Ministry of Finance last March, according to calculating the price of a barrel of oil at $60, with a total amount of up to 150 trillion, as it may include a small part of the borrowing,” he added, noting that “there are amendments that will be made to the law according to recent changes and the rise in oil prices.“
“The Ministry of Finance announced that the draft budget law for the year 2022 includes securing 51 trillion dinars to finance ongoing and new projects, confirming the adoption of the price of a barrel of oil at $90 a barrel in the budget.”
The lava is still flowing. It’s unstoppable, thank you Frank.
GodLover » June 23rd, 2022
I just wanted to comment on one of your items on the list: the ATM’s.
First off, we don’t know the condition of their old ATM’s. The need to replace them was likely a priority with all of the banking reforms. Of course I do believe they will be able to function with the hopefully soon to be NSCN’s. Will these ATM’s only be turned on after the issue of the NSCN’s? (New Small category notes) No one knows the answer to that, but I would guess the ATM’s will be used for some time prior to the release of the NSCN’s. The new ATM’s in itself, does not give us a real time-line.
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DeepWoodz » June 23rd, 2022
Imo Not your run of the mill ATM’s…
Al Qurtas Islamic Bank has partnered with Diebold Nixdorf to deploy DN Series ATMs in Iraq: the first in the country. Diebold Nixdorf will provide the Vyanmic View software to detect and prevent downtime for the ATMs as well as improve performance and reduce costs, according to a press release.
The ATMs can accept, validate, store and recirculate cash and feature a 19-inch touch display and check deposit module.
“We are proud to be the first financial institution in Iraq to deploy the new ATM technology and look forward to providing innovative services to our customers,” Sara Ahmad, CEO at Al Qurtas Islamic Bank, said in the release.
“The new devices are already getting our customers’ attention, and in our next phase, the ATM’s integrated cash recycling capabilities will enable us to optimize cash handling and provide our customers with innovative technology that improves their banking experience.”
Samson » June 23rd, 2022
The House of Representatives raises its session after filling the seats of Al-Sadr with the benches
23rd June, 2022
Today, Thursday, the Iraqi parliament adjourned its session after the replacements for the Sadrist bloc voted.
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And the media department of the Council said in a brief statement, that the House of Representatives decided to adjourn its extraordinary session, noting that the voting of the new representatives had been completed to replace the resigned Sadrist bloc deputies.
The session witnessed the swearing in of the constitutional oath to the alternative representatives of the independents in the Sadrist movement bloc, the completion of amendments, and the approval of the internal system of the House of Representatives, which are the two paragraphs of the agenda.
64 out of 73 deputies took the oath, as 9 deputies did not attend the session.
Yesterday, Wednesday, the Presidency of the House of Representatives called on the candidates, “the biggest losers”, who have resigned from the Sadrist bloc’s deputies, to attend tomorrow’s session, Thursday, while six of these substitutes refrained from attending because they are among the Sadrist bloc’s candidates.
The Presidency of the House of Representatives announced, on Tuesday, that the Council will hold an extraordinary session, based on the provisions of Article 58 first of the Constitution, and at the request of a number of Council members, on Thursday, June 23, at 11 am. LINK
TSM » June 23rd, 2022
Sure sounds like they got a lot accomplished….lol…Glad my expectations very LOW, VERY LOW..so I am not upset in the least…I did not expect much…and I got it…IMO
Samson » June 23rd, 2022
Governmental Media : Implementation of the Automation Program for Customs and Tax Receipts
23rd June, 2022
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Today, Thursday, the Government Media Cell announced the completion of procedures related to the automation of customs and tax receipts
A statement by the cell, received by the Iraqi News Agency (INA), stated that “in implementation of the directives of Prime Minister Mustafa Al-Kazemi and the Secretary-General of the Council of Ministers Hamid Al-Ghazi, and under the supervision of the head of the Border Ports Authority Omar Al-Waeli and with an exceptional effort of the technical and technical staff, it ended the border crossings at the ports (Safwan, Shalamjah, Umm Qasr Al Janoubi, Umm Qasr Al Shamali, Umm Qasr Al Awsat, and Abu Flous) procedures related to the automation of customs and tax receipts, through the authority’s electronic platform
The statement explained that “the experience of auditing the customs and tax receipts is an important step implemented by the authority in record time and self-effort, which contributed to preventing fraud when completing transactions related to the entry of various materials, eliminating corruption and waste of public money, in addition to maximizing revenues that go to the treasury
The electronic platform was also linked to the cultural attachés of the countries’ embassies for the purpose of receiving certificate of origin and attested invoices electronically in order to facilitate the trade process, which contributed significantly to obtaining tax and customs funds without any manipulation and fraud
And the cell indicated, “The joint team of the General Secretariat of the Council of Ministers and the Border Ports Authority, during its tour in the southern ports, was briefed on the procedures related to the implementation of what was stated in the decisions of the Council of Ministers regarding facilitating the entry of foodstuffs and consumer goods into Iraq, where the quantities of imported materials amounted to thousands of tons and trucks since Last March, in support of stabilizing food security and contributing to balancing food prices
With regard to controlling the process of preventing the entry of materials prohibited from import and in violation of the instructions, the statement pointed out that “the search and investigation staff of the Border Ports Authority was able to seize quantities of drugs and containers containing materials in violation of import controls, in addition to evacuating all containers containing materials. Chemical and dangerous, in implementation of the recommendations of the Diwani Order Committee (18 of 2022)
Tyson » June 23rd, 2022
Game Time. The ATMs are ready. AYSCUDA is ready. BUNA Platform is ready. General Tax Authority is ready. Now Customs & Tax are ready. The HCL/Oil & Gas is ready. The EFSL is ready. And the contracts are signed. Where else to go from this point?
No wonder the Minister of Finance Ali Abdul-Amir Allawi said that they are keen on implementing the EFSL. Everything is prepared for roll out. The hard currency reserves are covered so they can deal with any inflation from the onset of reinstatement if any were to occur.
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All of this occurred without a seated government or 2022 Budget. I mean they did say the White Papers/EFSL operate outside any political conflicts. Which should be evident to everyone at this point.
They precautionary measures in place will ensure and maintain the Security & Stability given the recent opening of the Green Zone 24/7 around the clock accessibility for the people of Iraq. This week into next is shaping up to be jam packed with events that will be historic but very dramatic in the days ahead. –
North Korea called an emergency meeting. Roe vs wade tomorrow. Kash Patel said in interview that he speaks for the Trump org and that he is Declassifying everything in the sussman Case next week. SA is meeting with Turkey. The DS is going to cause a major s**t storm to distract from all of these as it will cause a major collapse in their power base. IMO
Source: Dinar Recaps
Samson » June 23rd, 2022
Russia confirms payment of “dollar” debt in ruble currency
23rd June, 2022
Russian Ministry of Finance confirmed, today, Thursday, that Moscow paid interest payments on its debt in rubles in rubles, due to the sanctions imposed on it since the beginning of its war with Ukraine.
“The National Settlement Depository has received the funds to pay a coupon on external bonds of the Russian Federation due in 2027 and 2047 in a total amount of 12.51 billion rubles (equivalent to $234.85 million),” the ministry said in a statement.
“With this, the Ministry of Finance of Russia fulfills all the obligations of the Russian Federation,” she added.
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In its statement, the ministry indicated that it is based on a new temporary payment system, which entered into force by a presidential decree published on June 22. LINK
Russia responds to “Swift” with a digital payment system that deals with “rubles”
21st June, 2022
The Russian state-owned defense conglomerate Rostec Group announced in a press release that it has developed a blockchain-based platform capable of replacing the global SWIFT network that can be used for international remittances.
Because of the sanctions imposed by Western countries in response to the Russian-Ukrainian conflict, Russian banks were expelled from the SWIFT system last February. Since then, Moscow has been looking for a financial payment system to replace SWIFT in order to secure its international business transactions.
Using the new digital platform, foreign countries will be able to continue to pay for imports from Russia in their own currencies. The company claims that the Cells platform can handle up to 100,000 transactions per second, which could lead to an additional increase in productivity.
Rostec seeks to attract the attention of large companies with foreign authorities and financial institutions that have business relations with Russia. At this point, the company invites potential consumers, financial institutions and software developers to try out the new technology.
Payment in Russian rubles
According to the company, Russia will be able to pay for imports in its own currency, the ruble, instead of the dollar, thanks to the new digital international payment system, and the system will also allow other countries to pay for their goods from Russia in their own currencies.
According to a statement from the company, the Novosibirsk Institute of Software Systems (NIPS), affiliated with the Rostec Group, has developed the Cells Blockchain platform, on which the global payments system is built.
The platform aims to create an integrated solution using distributed ledger technology (containing a copy of the ledger for all transactions that will take place in a shared virtual database). The network is distinguished by a digital method for making payments in the national currencies of its affiliated countries, according to the Russian group.
According to the company, its new technology “could provide a real alternative to the international payment services provided by the SWIFT system, which Russian banks have been deprived of due to Western sanctions.” According to the announcement, the Cells platform provides its users with the ability to build wallets to hold digital currencies in addition to international payments.
Avoid Western sanctions
The payment function of the new system in local national currencies allows users to avoid Western sanctions against Russia.
Behind the Rostec group are large companies with economic ties with Russia, as well as foreign government agencies dealing with Moscow, financial institutions and banks. He announced the new mechanism a few days after the Russian government announced that it was exploring the use of cryptocurrency in foreign payments. Discussions are currently underway on the idea of employing cryptocurrencies in international trade settlements within the government, according to Ivan Chepskov, head of the Financial Policy Department of the Russian Finance Ministry.
Turning to Blockchain Technology
The Russian authorities have a divided stance on the domestic cryptocurrency industry. Earlier this year, the Russian Central Bank was leaning toward a complete ban on digital assets, including mining and holding cryptocurrencies, because it believed they undermined the national monetary system. On the other hand, the Russian Finance Ministry said that it would be a more logical decision to impose rules on cryptocurrencies.
But international sanctions put an end to the radical plans to ban, as the country found itself without access to global markets and services. And in May, the Russian Finance Ministry submitted a revised draft of a cryptocurrency regulation bill, which called for cryptocurrencies to be allowed for international settlement payments.
And the Russian Minister of Industry and Trade, Denis Manturov, expects digital currencies to be legalized in Russia this year, and the digital currency of the country’s central bank is on the right track, and it is likely that a pilot phase of the digital ruble will be launched in 2023, according to “Business News”. LINK
Tivon » June 23rd, 2022
Blockchain Trades. Blockchain Payments. Blockchain Elections. Blockchain Education System. Blockchain Banking System. This is the future of humanity. There is no getting around this. Corruption will be reduced dramatically. Especially once we in the Western world go back on the Gold Standard. Which will be very soon. The Supreme Court decisions over these next few days will cause a paradigm shift. IMO
Samson » June 23rd, 2022
Al-Kazemi’s advisor announces the government’s position on hedging with “precious stones”
22nd June, 2022
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, announced today, Wednesday, the government’s position on hedging with “precious stones” for mobilization.
Saleh told Al-Furat News, “Hedging with precious stones is a positive thing, and Russia is moving in this direction, because it is now in a state of war, and it is economically beneficial.”
He added, “As for Iraq, it does not move the economy much, especially since it has a positive gold reserve that is almost excellent, according to its stocks in the central bank.” And Saleh continued, “Iraq also has a good reserve of hard currency.”
The Russian Ministry of Finance proposed the formation of a stockpile of precious metals and precious stones in a government fund, in order to meet the needs of filling, according to the agency “Prime” in a report on Tuesday.
Iraq is ranked 37th in gold reserves in the world. The Central Bank of Iraq, through the Deputy Governor of the Bank, Ihsan Shamran, revealed the volume of gold reserves in Iraq, which amounts to 96.4 tons. LINK
Bloomberg: Iraq is the “biggest loser” from the drop in the price of Russian oil
23rd June, 2022
A report by Bloomberg Agency stated that Iraq may be one of the biggest losers from the flow of cheap Russian barrels of oil to Asia, with the decline in demand for Iraqi oil in all its degrees
Dealers said that there were no immediate purchases of Basra Medium Crude or Basra Heavy Crude so far in the current Asian trading session, while no tender was awarded to sell heavy oil. India and China are major buyers of Iraqi oil, but they boosted purchases of discounted Russian oil after the invasion of Ukraine
Basra’s medium and heavy crudes are the two main types that Iraq exports to international markets, so any reduction in volumes or prices would be a blow to the second largest producer in OPEC. Dealers said that sellers of heavy oil discussed offering shipments at a discount to the official selling prices to attract buyers
China increased its imports of Russian oil significantly in May, according to official figures, Monday, which helped Moscow compensate for Western markets that were deprived of it due to the sanctions imposed on it against the backdrop of its war in Ukraine, according to AFP
This amount exceeds oil imports from Saudi Arabia (7.82 million tons), traditionally China’s first oil supplier. Western countries imposed unprecedented sanctions on Moscow in response to its invasion of Ukraine, and especially reduced its imports of Russian oil and gas
In May, China’s imports of Russian oil rose 55 percent year on year, according to released figures. Monday, by Chinese customs. Last month, the Asian giant bought from Russia about 8.42 million tons of oil, according to Chinese customs. This amount is much higher than the Russian shipments received by China a year ago (5.44 million tons) LINK
Source: Dinar Recaps
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