“Come on CBI” – Thurs. AM TNT Thoughts/News 7-7-22



In the document: The Iraqi Minister (Nazim Al-Zahawi) decides to resign from the Johnson government

The British minister of Iraqi origins (Nazim Al-Zahawi) decided to resign from Johnson’s government.

“Johnson has to go,” Zahawi said. The country deserves a stable and united government.

Al-Zahawi’s position comes after the resignation of 55 members of Johnson’s government team. link

Minister of Agriculture to the Serbian ambassador: The Iraqi market is open to all countries of the world

Minister of Agriculture, Muhammad Al-Khafaji, discussed today, Wednesday, with Serbian Ambassador Oros Balov, agricultural cooperation between the two countries.

Al-Khafaji stressed, according to a statement by the ministry, the strengthening of bilateral cooperation between Iraq and Serbia to serve the development and advancement of the agricultural sector, indicating the depth of bilateral relations between the two friendly countries and the desire to develop imports of agricultural products.

He added, “The Iraqi market is open to all countries of the world and has a large area to import Serbian materials, including Serbian apples.”

Al-Khafaji indicated that an Iraqi ministerial delegation will visit Serbia to activate the memorandum of understanding and discuss its provisions in the field of agricultural research, marketing and development of plant crop production and modern mechanization, and in the field of manufacturing, manufacturing and food industries and methods of combating diseases, especially since Serbia is advanced agriculturally and technically.

During the meeting, they discussed cooperation in the field of technologies, localization of modern technology, attracting businessmen, and cooperation in the field of agricultural research and studies, as well as benefiting from the scientific and agricultural expertise owned by Serbia, including the transfer of similar experiences and legislation between the two countries in the field of land distribution and regulation.

Al-Khafaji invited Serbian specialists and experts to visit Iraq and hold workshops and seminars on land-related legislation to benefit from and transfer and localize these legislations that contribute to the development of the agricultural sector.

For his part, Balov expressed his country’s desire to enhance joint cooperation that serves the development of agricultural and animal fields, stressing his country’s readiness to enhance joint cooperation and supply fresh products to Iraq.  link

Pretty sure the rate is being released. From one of the articles from the 6th. “The Iraqi market is open to all countries of the world and has a large area to import Serbian materials, including Serbian apples. Al-Khafaji indicated that an Iraqi ministerial,,” delegation will visit Serbia to activate the memorandum of understanding…They couldn’t do this without an article VIII rate to trade internationally.

“Iraq market is open to the countries of the world” by the Minister of Agriculture(GOI) is a declaration of acceptance of Article VIII by Iraq….Come on CBI.,

Looking around in dinarland, a conversation I read, that make sense, especially with what we hear regarding the banks/treasury’s expectations of something happening this week. Was stated their ISX was up to day and will be tomorrow but closed for a week starting Friday.  Coincidence, they will be adjusting the values of their stock with the released RI rate of the dinar. Add this to what the banks are expecting and the final finale is set before us.

Khazali Clarifies The Possibility Of Passing The Budget During The Era Of The Caretaker Government

Legal expert Raqiah Al-Khazali explained the possibility of passing the 2022 budget by Parliament in light of the presence of the caretaker government in power.

Khazali told “Al-Maalouma”, that “the current government is a caretaker and cannot send a budget to Parliament for its legislation, because it does not have the legal right to raise bills, including the budget.”

She added that “passing the budget is by going towards forming the new government, which in turn studies the budget and submits it to Parliament for a vote.”

And she indicated that “the budget can be legislated during the era of the current government by voting by members of Parliament by a simple majority within the House of Representatives, and therefore these votes give the government the legal framework to raise the budget in order to vote on it.” 

Monopoly of electronic payment services (7/7/22)

In one of the most important steps towards a society in which there is less reliance on cash in financial transactions, and electronic payment tools are widespread, the Central Bank of Iraq recently decided to obligate operating banks, in the electronic collection method, in the recovery operations of funds granted for the purposes of service and commercial projects with the initiative of 2 trillion dinars, and with Borrowers are required to pay the installments due to banks electronically through tools (point of sale devices, payment gateways and mobile phone wallets) so that this condition is essential in granting loans and is implemented retroactively.

It seems that this measure came under the pretext of enhancing levels of financial inclusion in the context of the Central Bank’s strategy adopted in the dissemination of electronic payment tools and in light of the establishment of an information infrastructure that covered even remote areas in Iraq, while the infrastructure of banking sector technologies expanded, which made Iraq a suitable environment for the growth of operating companies.

In this context, specifically, the international companies that dominate the Iraqi market absolutely, depending on their technical and financial capabilities. 

In fact, it does not seem that there is a local competitor for international companies, and this seems natural in view of the financial capabilities of international companies and their experiences in monopolizing the knowledge economy in view of decades of isolation witnessed by the Iraqi banking sector, higher education sector and scientific research before 2003

 So it seems that the monopoly of the diverse package of services they provide Such as issuing cards and managing ATMs and points of sale is normal, in addition to its plans to expand a range of advanced banking services and products by adding new programs and applications in the field of electronic payment.

Information technology has reached the level of services provided by these technologies, so the energies of these staffs seem to be scattered, and in their best cases they are concerned with the outputs of operations only, due to the absence of a sponsor for this important cyber file, which makes information security a monopoly onThese companies that claim to apply security standards according to the measurements of international organizations led by these companies itself.

In addition, the local banks do not have any participation in the companies that monopolize this sector, while the company that has monopolized this sector in Iraq since 2009 consists of a group of Jordanian, Gulf and Turkish banks, and the strangest thing is that this company does not have any presence in the Iraqi stock market Although it monopolizes the electronic payment market in Iraq.   link

Source: Dinar Recaps


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