News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraq Economic News and Points To Ponder Friday Evening 5-31-24

Parliamentary Finance Announces Its Readiness To Present The Final Report On The Budget Schedules In Next Monday’s Session

Friday 31, May 2024 | Economical Number of readings: 176 Baghdad / NINA / The Parliamentary Finance Committee confirmed its readiness to present the final report on the budget schedules in next Monday’s session.

The head of the committee, Atwan Al-Atwani, said in a statement, “His committee has been continuing for days to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors.”

He pointed out that “a series of intensive meetings were held, which witnessed the hosting of the relevant ministers,” indicating that “the committee is about to complete the task of discussing and reviewing the details of these schedules, in a manner consistent with the federal general budget law for the years (2023-2025).”

Al-Atwani confirmed that “Parliamentary Finance is ready to present its final report to the House of Representatives in next Monday’s session designated for approving the budget schedules and its annexes.”

He pointed out that "the committee is keen to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on."/ https://ninanews.com/Website/News/Details?key=1129845

Al-Sudani: The Path Of Development Will Restore Iraq's Historical Role In Global Trade

Economy | 05/31/2024 Baghdad - Mawazine News Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.

He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”

He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. https://www.mawazin.net/Details.aspx?jimare=248956

Oil Declines After A Sudden Rise In US Gasoline Stocks

Friday 31, May 2024 | Economical Number of readings: 241 Baghdad / NINA / Oil prices fell today, Friday, in the wake of a sudden rise in US gasoline inventories and amid indications that it is unlikely to start lowering interest rates.

Brent crude futures fell 12 cents, or 0.15 percent, to trade at $81.74 a barrel, and US West Texas Intermediate crude fell 17 cents, or 0.22 percent, to $77.74.

This decline in prices comes in light of statements by Lori Logan, President of the Federal Reserve Bank in Dallas, about the possibility of rising inflation despite the slowdown in the recent period, warning that the US Central Bank needs to be flexible and keep “all options on the table” while monitoring... “Data determines how to respond.”

Meanwhile, the US Energy Information Administration reported that gasoline inventories rose against expectations that demand will be higher before the weekend.

Inventories rose by two million barrels during the week, to 228.8 million barrels, compared to expectations of a decrease of 400 thousand barrels./End 2 https://ninanews.com/Website/News/Details?key=1129766

The Central Bank Announces Raising The Amounts Allocated For Housing Loans

Economy | 05/31/2024 Baghdad - Mawazine News The Central Bank announced today, Friday, raising the amounts allocated for housing loans to 3 trillion dinars.

The bank stated in a statement received by “Mawazine News”, that “based on the strategic vision and main objectives of the Central Bank of Iraq in working to promote sustainable development and prosperity and achieving well-being for citizens, the most prominent of which is the provision of adequate housing, and in a way that contributes to the growth of urban expansion and urban development,

it decided The Board of Directors of the Central Bank of Iraq issued a number of decisions that would provide additional amounts amounting to about (3) trillion dinars, which in turn will be reflected in the response to housing borrowing requests by citizens through (the Real Estate Bank and the Iraqi Housing Fund) in a facilitating manner, in support of the government’s directions in "This regard."

The statement added, “The Central Bank of Iraq directed the management of both the Real Estate Bank and the Iraqi Housing Fund to develop a well-thought-out plan for housing lending, through which it will receive requests from citizens wishing to borrow, in light of the government’s directives and in accordance with the contexts and regulations in force in each of them, taking into account Priorities in this regard, in a way that achieves the principle of justice among citizens, especially completed or under-complemented transactions.”

At the same time, the Board of Directors of the Central Bank of Iraq called on the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them, allowing them the opportunity to implement their policy of granting housing loans to citizens. https://www.mawazin.net/Details.aspx?jimare=248935

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Failures and Mistakes

The man who has done his level best, and who is conscious that he has done his best, is a success, even though the world may write him down a failure.-B. C. Forbes

Good judgment comes from experience, and experience comes from poor judgment.-Anonymous

Life is very interesting, if you make mistakes.-Georges Carpentier

When I have listened to my mistakes, I have grown.-Hugh Prather

Mistakes and errors are the discipline through which we advance.-William Ellery Channing

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

KTFA:

Clare: Heavy security deployment near the Green Zone in Baghdad

5/31/2024

An Iraqi security source reported, on Tuesday, that security forces were deployed heavily in the vicinity of the “Green Zone” in the center of the capital, Baghdad.

The source told "Mawazine News", "Forces from the Special Division deployed near Al-Khadraa, Al-Jardiya, and Al-Dora, without knowing the reasons."

He pointed out that "the authorities have closed the gates of the Green Zone to the public, and only those holding badges (special cards for residents or workers in the area) are allowed to enter." LINK

Clare: It will be approved in a “special” session.. Parliamentary Finance: There is no intention to return the budget schedules to the government

5/30/2024

The Parliamentary Finance Committee said on Thursday that it or the House of Representatives has no intention of returning the budget schedules for 2024 to the federal government.

Committee member Hussein Moanis explained to Shafaq News Agency, “Last Monday, the Parliamentary Finance Committee hosted the Ministers of Finance and Planning to discuss many topics related to the budget schedules, including answering the questions of the committee members regarding increasing the financial allocation to the ministries and reducing the funds allocated to the governorates.”

He added, "The two ministers answered the questions that were directed to them during their hosting in the committee," noting that "the increase in financial allocation to the ministries came due to the presence of retained funds for the ministries from last year."

Mu'nis stressed that "the project funds allocated to the governorates can be disposed of this year." He pointed out that "the Parliamentary Finance Committee will work to make financial transfers from the ministries to the governorates, in addition to reducing the percentage of the deficit present in the budget tables."

A member of the Finance Committee confirmed that “there is no intention to return the budget schedules to the government, and that the House of Representatives will discuss the budget law schedules and then they will be approved in a special session.”

The day before yesterday, Tuesday, the coordination framework stressed, during a meeting attended by Prime Minister Muhammad Shiaa Al-Sudani, the necessity of approving the budget schedules to achieve the interests of citizens and support the economic situation.

The 2024 budget, according to what Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Sunday, amounts to 211 trillion dinars, and employee salaries for the year 2024 amount to 62 trillion dinars, while the 2023 budget amounted to 199 trillion dinars and employee salaries amounted to 59 trillion dinars.

According to Al-Sudani, the revenues of the 2024 budget are estimated at “144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.” LINK

************

Clare: Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session

5/31/2024

The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.

The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”

Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.” We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.” LINK

Clare: Al-Sudani: The path of development will restore Iraq's historical role in global trade

5/31/2024

Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. LINK

Goldilocks' Comments and Global Economic News Friday Evening 5-31-24

Good Evening Dinar Recaps,

~~~~~~~~~

https://www.dtcc.com/dtcc-connection/articles/2024/may/29/building-the-digital-assets-ecosystem?utm_campaign=Digital+Assets&utm_medium=social&utm_source=Twitter

"Commissioner Pham Announces Agenda for Global Markets Advisory Committee Meeting on June 4" |CFTC

~~~~~~~~~

~~~~~~~~~

The Singapore Innovation Hub Centre |Youtube

~~~~~~~~~

BISness podcast - Finternet: the financial system for the future |Youtube

~~~~~~~~~

Bearish Dow future 37,500.

~~~~~~~~~

Follow Goldilocks'Roadmap

Follow Goldilocks'Timeline

Goldilocks'Telegram Room

Q & ATelegram Room

Goldilocks on theSeeds of Wisdom Team™Website

Subscribe toNewsletter

Thank youDinar Recaps

TNT:

Tishwash: A parliamentary committee determines the main reason for not approving the oil and gas law.. What is Kurdistan’s relationship?

The Parliamentary Oil, Gas and Natural Resources Committee confirmed that there were legal violations committed by the Kurdistan region that prevented the approval of the Oil and Gas Law.

Committee member MP Kazem Al-Touki said, in an interview followed by Al-Eqtisad News, that “the oil and gas law does not suffer from technical obstacles, but the main obstacle to its approval in the House of Representatives is the Kurdistan region.”

He added, "The region has problems regarding some points related to the rate of deduction of amounts for each barrel of oil produced in Kurdistan, in addition to the fact that the regional government has had contracts since the 1990s with companies to extract oil in violation of the law."

He stated that "the region violated the laws by contracting with companies to extract oil at high costs, unlike what is happening in other governorates, and these companies should be reconsidered in terms of contracts and financial costs for extracting oil."link

Tishwash: Baghdad Stock Exchange closes due to instability in dollar prices

The exchange rates of the US dollar continued to be unstable against the Iraqi dinar, with the close of trading on the Al-Kifah Stock Exchange today.

Selling prices in exchange shops recorded 146,000 dinars for 100 dollars, while purchasing prices reached 144,000 dinars for 100 dollars.

Economic specialists warned of the sudden rise of the dollar, noting that the reason was due to speculators withdrawing the American currency from the market and selling it later at high prices, which negatively affects the stability of the financial market and the local economy.

link

************

CandyKisses: Abu Saeeda: American forces will not withdraw from Iraq, and the nature of their presence will be changed

Information / Baghdad...

The head of the movement and the presence of Mohammed Sharif Abu Saida, ruled out the withdrawal of US forces from Iraq, expecting to change the status of their presence.

Abu Saida told Al-Maalouma that "America controls 3 of the largest military bases in the region, Ain al-Assad, Harir and Victoria inside Iraq and al-Tanf near the Iraqi-Syrian border."

He added that "the extension of the state of emergency in Iraq by US President Joe Biden is an explicit confirmation of the continued presence of his military forces in Iraqi territory," pointing out that "the visit of Prime Minister Mohammed Shia Al-Sudani to Washington last month did not discuss the file of withdrawal of US forces from Iraq."

"Anyone who talks about a systematic withdrawal of US forces from Iraq is delusional, as what will happen is to change the status of these forces from a combat soldier to an advisor," he said.

*************

Tishwash: Adopting international standards brings Iraq closer to the International Labor Organization

Consensus on the importance of strengthening the work sectors in the public and private sectors, and in the financial sector in particular, by adopting governance, risk management and compliance procedures and their role in evaluating performance to achieve goals and avoid economic diseases of all kinds, and to bring Iraq closer to the international labor system.

Advisor to the Prime Minister for Financial Affairs Dr. Mazhar Muhammad Saleh said during the Governance, Risk Management and Compliance Forum organized by the House of Wisdom for Training and Consulting: The importance of the forum stems from focusing on three axes that are extremely important for evaluating performance within institutions, whether public or private, pointing out that governance does not allow deviation from compliance rules. The basic principles are that creating performance paths that serve the country requires commitment to these important and internationally recognized standards.

Saleh stressed that adherence to established policies is extremely important in the internal auditing process and is no less important than high disclosure and transparency, pointing out the importance of there being true integration in building human capabilities through solid training and education curricula that create competencies that rise to world-class performance.

The speech of the Acting Chairman of the Finance Committee, Atwan Al-Atwani, which was read out, confirmed that the issue of governance in public and private institutions receives international, regional and local attention as a result of the expansion of the size of institutions, due to the technological development witnessed by the world and the challenges that have been created that require a new business philosophy.

He pointed out that the GRS system is of great importance, especially in the banking sector, as well as for adopting a huge amount of data in public and private institutions via the Internet, and to achieve the goals of this system, we find that it turns data into smart data of value for institutions.

As for the authorized director of the House of Wisdom for Training and Consultations, Hisham Khaled Abbas, he stated that the forum represents a new approach that expands the importance of this concept, and that the role of governance is to promote effective management that achieves results that enhance the reality of the institution, succeeds in achieving goals, and touches on the broader results and objectives of the national economy seeking to evaluate performance and advance the economy. in general.

He stated that keeping pace with global developments is extremely important and brings us close to the international labor system and enhances confidence in the Iraqi labor market, which is looking for an international presence to complete many works, especially in the investment field in various sectors without exception, at a time when we find many major and specialized international companies looking to... Iraq is of particular importance and the business environment is studied very carefully.

Abbas pointed out that governance, compliance, and risk management are important axes that keep us close to important international and regional economies. link

Iraqi Dinar-IQD Update-Budget Law-Parliament Speaker Vote-Monitoring Financial Exchanges-Next Week

MilitiaMan and Crew: 5-31-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=dIAX_nvKLq4

Iraq Economic News and Points To Ponder Late Thursday Evening 5-30-24

Al-Rafidain Announces The Implementation Of The Comprehensive Banking System In 27 Branches In Iraq

Economy Thursday, May 30, 2024 Baghdad/National News Center Al-Rafidain Bank

Announced These two branches join the other branches in which the comprehensive system was activated in Baghdad and the governorates, which amount to 27 branches, in addition to the branches of the border crossings (Zurbatiyah, Safwan, Arar, and Trebil).

This step represents an important part of the bank’s efforts to leave paperwork and move completely towards electronic transformation, in line with the priorities of the government program that focuses on electronic transformation in financial transactions. This transformation aims to reduce the number of red tape for citizens and reduce time and effort in completing their transactions.

Rafidain Bank confirmed that the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings, with the aim of including all branches of the bank with the application of the system, which enhances the efficiency of banking service and increases customer satisfaction. https://nnciraq.com/256707/

Learn About The Dollar Exchange Rates In Local Markets

Economy | 11:16 - 05/30/2024 Baghdad - Mawazine News The exchange rates of the dollar against the Iraqi dinar rose slightly, today, Thursday, in local markets.

Dollar prices rose with the opening of the main Kifah and Harthiya stock exchanges in Baghdad, recording 145,150 Iraqi dinars for every 100 dollars, while yesterday, Wednesday, prices recorded 145,000 Iraqi dinars for every 100 dollars.

Selling prices also increased in banking shops in local markets in Baghdad, where the selling price reached 146,250 dinars, while the purchasing price reached 144,250 dinars for every 100 dollars.

In Erbil, the dollar also recorded an increase in banking shops, where the selling price reached 144,850 dinars against the dollar, and the purchase price reached 144,750 dinars against 100 dollars.https://www.mawazin.net/Details.aspx?jimare=248872

Planning: The Population Census Will Achieve Fair Distribution Of Wealth Among The Governorates

Economy News – Baghdad The Ministry of Planning confirmed, on Thursday, that the general census of population and housing will give accurate figures about the size of the real population mass in each governorate, and will achieve fairness in the distribution of wealth among them.

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the general census of population and housing is one of the field foundations for resolving the existing controversy regarding the provinces’ entitlements from the general budget,” explaining that “the census “It will result in a fair distribution of wealth among the governorates, because most of them complain of the limited financial allocations they receive that are not commensurate with their population density.”

Al-Hindawi added, “The estimated and statistical censuses will give accurate numbers about the size of the real population mass in each governorate, and therefore the state ministries will develop their action plans to fulfill the requirements for each governorate to enjoy its right from the general budget, according to the number of its population that will be mentioned in the general census.”

He stressed that "the Ministry is striving to adopt international scientific standards and field methodologies in conducting the census, using modern electronic technologies," expressing his hope that "the accuracy, reliability, and comprehensiveness of the data will reach 90 percent or more." Views 88 Added 05/30/2024 - https://economy-news.net/content.php?id=43874

The Central Bank Sells More Than $269 Million At Auction Today

Economy News – Baghdad Today, Thursday, the Central Bank announced its sales of hard currency, amounting to more than $269 million in today’s transactions, according to the official rate.

The bank's data showed that the total internal cash withdrawals amounted to $19,730,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $249,569,132, while the total sale amounted to $269,299,132.

Views 57 Added 05/30/2024 - 2:48 PM https://economy-news.net/content.php?id=43865

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Failures and Mistakes

The fearful are caught as often as the bold.-Helen Keller

Inaction, contrary to its reputation for being a refuge, is neither safe nor comfortable.-Madeleine Kunin

They fail, and they alone, who have not striven.-Thomas Bailey Aldrich

You may be disappointed if you fail, but you are doomed if you don't try.-Beverly Sills

It takes as much courage to have tried and failed as it does to have tried and succeeded.-Anne Morrow Lindbergh

Failure is something made only by those who fail to dare, not by those who dare to fail.-Louis Binstock

You don't always win your battles, but it's good to know you fought.-Marjorie Holmes

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Thursday Evening 5-30-24

Good Evening Dinar Recaps,

~~~~~~~~~

READ DOC Here:

Thank you Sam for finding the above information for me. I knew it had to be somewhere.

~~~~~~~~~

~~~~~~~~~

Status of Banks’ Unrealized Losses in Q1: Worsened after Brief Rate-Cut-Mania Relief |Wolf Street

~~~~~~~~~

New York Stock Exchange to list Bitcoin options -Ledger Insights - blockchain for enterprise

~~~~~~~~~

Once our digital assets moving towards regulation and becoming law are complete, the ability to move our "tokenized assets" backed by gold as a tier one asset will bring the banking system and the markets into correlated price patterns.

This will enable us to move forward with the new economy and begin the process of credit valuation adjustments across all sectors of the market including Forex.

© Goldilocks

~~~~~~~~~

The BuyBacks that started yesterday have not turned the markets around. BuyBacks usually reset a market and support a market. So far, it is not working. The next FOMC meeting is June 11th through the 12th. We may be looking at some monetary policy changes. We have to keep our eyes open much wider than before...

~~~~~~~~~

Article (10) of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and based on the supervisory and supervisory role of this bank, it was decided to oblige the Anti-Money Laundering and Terrorist Financing Department in the electronic payment service providers/processors company to follow up on the movements that take place. On cards (whether prepaid, credit or debit)https://cbi.iq/news/view/2595

~~~~~~~~~

Meeting with the Minister of Agriculture at ROSL, 2024 |Youtube

~~~~~~~~~

Comparing the IQD to the VND Iraqi News IQD VND HTG Rates |Youtube

~~~~~~~~~

THE WORLD ECONOMY IS COLLAPSING FASTER... AND SOCIETY IS BEING "DECONSTRUCTED." Mannarino |Youtube

~~~~~~~~~

Trading Halt |Investopedia

Market Announcement:

A delay in ticker reporting was announced about an hour ago. This delay is expected to be over 2 hours.

This does not make sense to me as a trader. Something is not right. Why would anyone buy in a stock market whereby the buy/sell indicators were delayed?

~~~~~~~~~

It looks like I have the rest of the day off.

~~~~~~~~~

All Time High Asset Prices |Youtube

~~~~~~~~~

Ripplesubmits a letter to Judge Torres:

1 & 2

~~~~~~~~~

Follow Goldilocks'Roadmap

Follow Goldilocks'Timeline

Goldilocks'Telegram Room

Q & ATelegram Room

Goldilocks on theSeeds of Wisdom Team™Website

Subscribe toNewsletter

Thank youDinar Recaps

KTFA:

Clare: Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.

29th May 2024

‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq.

The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18thJune in a webinar and in person at the Spring Conference on 2ndJuly. The Arabic translation will be published soon.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gapbetween the official and parallel exchange rates in the medium-term.

In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.

This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.

An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions.

Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’

The report is availablehereto download.

https://iraqbritainbusiness.or.....qi-economy

Together we build Iraq

The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members.

Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.

IBBC

************

Clare: Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.

Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.” LINK

Clare: Hisham Al-Rikabi confirms the government's interest in restoring Iraq's status on the Arab and international levels

5/30/2024

Member of the Board of Commissioners of the Media and Communications Commission, Hisham Al-Rikabi, confirmed today, Thursday, the government’s interest in restoring Iraq’s status on the Arab and international levels.

Al-Rikabi said in a blog post on the “X” platform: “The decision to choose Iraq to head the Council of Arab Information Ministers and to host Baghdad for its fifty-fifth session came as a result of the government’s interest in restoring Iraq’s position on the Arab and international levels and the keenness of the Media and Communications Commission to develop this sector and continue consolidating the foundations of freedom of opinion and expression.” In the country." LINK

***********

Clare: Sudani: Receiving international events reflects the state of stability in Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani expressed his appreciation for the distinguished results of Iraq in the West Asian Athletics Championships held in Basra, stressing that the reception of international events reflects the state of stability in the country.

Al-Sudani said in a tweet on his website on the “X” platform: “Greetings to the athletics champions as they reap distinguished results in the West Asian Championship for women and men, which is hosted by Basra Governorate with the participation of several Arab and Asian countries.”

He added, "Hosting Arab and international sports events, in Baghdad, Basra, and our beloved governorates, reflects the state of stability that our country is witnessing in various fields, and enhances government support for the plans and programs that we have directed to advance the sports sector in general." LINK

************

Clare: Iraq executes 8 terrorists

5/30/2024

A security source led by the Dhi Qar Governorate Police said today, Thursday, that the Ministry of Justice carried out the death sentence against 8 terrorists in Nasiriyah Central Prison, known as “Al-Hout” Prison.

The source stated, "Today, a team from the Ministry of Justice supervised the execution of the death sentence against 8 ISIS terrorists in Nasiriyah Central Prison (Al-Hout)," pointing out that "among those carrying out the death sentence was a terrorist nicknamed (Al-Sumaidaie)."

The source stated, "The implementation of the death sentence against the terrorists came after their rulings became final and were approved by the President of the Republic." LINK

************

Clare: Customs explains the importance of implementing the single window system

5/30/2024 Baghdad - IA - Hassan Al-Fawaz

The General Authority of Customs confirmed today, Thursday, that work is underway to implement the single window system, while indicating that the system simplifies procedures for the importer and exporter, and contributes to facilitating the movement of legitimate trade.

The head of the authority, Hassan Al-Ugaili, told the Iraqi News Agency (INA): “The authority works with two systems, the developed electronic declaration system that is applied in 6 centers, and the Asycoda system, which will replace the electronic declaration system.”

Al-Ugaili explained, “The Authority has begun implementing the ASYCUDA system, which is an international system, more reliable and more robust, and therefore it will replace the electronic declarations system in all those centers, but it will be implemented successively.”

He added, "The authority is working on a single window system, which is linking all state institutions concerned with customs work in one window, so the work will be completed faster and more accurately."

He stated that "the system will simplify procedures for the importer and exporter, and will contribute to facilitating the movement of legitimate trade," adding, "This is one of the stages of the ASYCUDA system, which is access to the single window for trade." LINK

TNT:

CandyKisses: Sudani announces the opening of 48 power transmission stations and 152 electricity distribution stations in Iraq

{Political: Al-Furat News} Prime Minister Mohamed Shia Al-Sudani announced the opening and operation of 200 power transmission and electricity distribution stations.

The media office of the Sudanese in a statement received by {Euphrates News}, that "Sudanese announced the opening and operation of 48 transmission stations for electric power for ultra high and high pressure, and 152 power distribution stations in all provinces of Iraq."

"This is part of the first phase of a package of projects to solve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of provinces," he said.

Tishwash: Al-Sudani discusses with the New Generation bloc steps for economic reform

On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani discussed with the New Generation Bloc the government’s steps towards economic reform.

The Prime Minister's media book stated in a statement received by Al-Maalouma, that "Prime Minister Muhammad Shiaa Al-Sudani received members of the House of Representatives from the New Generation Bloc, and during the meeting, they discussed the general conditions in the country, the conditions in the Iraqi Kurdistan region, and discussed the government's steps in Implementing the priorities of its program in economic reform, providing services, and alleviating unemployment and poverty rates, in a way that helps achieve a development renaissance that will be reflected in the economic and social situation in general.”

He added, "The meeting witnessed an emphasis on the importance of coordination and integration of work between the executive and legislative authorities, which is in the best interest of the country, and also stressed the need for political forces to make the required efforts in addressing issues and differences in visions, with the aim of enhancing stability throughout Iraq and preserving the democratic approach." Which supports the state and its institutions.” link

************

CandyKisses: Parliament finances talk about the deficit of the budget: we will adopt this mechanism to fill it

Economy News - Baghdad

Today, Thursday (May 30, 2024), the Parliamentary Finance Committee revealed the mechanism for bridging the financial deficit in the fiscal budget for the year 2024 sent by the government to the House of Representatives.

Committee member Moeen Al-Kazemi said that "the 2024 budget, according to the schedules sent by the government to the House of Representatives, amounts to (211) trillion dinars, and the government's oil and non-oil revenues amount to (147) trillion dinars, and this means that the deficit will be (64) trillion dinars, and we in the Finance Committee will follow up on this issue and give our perceptions regarding addressing the deficit in the upper limit."

Al-Kazemi indicated that "the government wants to address this deficit by borrowing from the Central Bank of Iraq in the amount of (20) trillion dinars and from other banks with a value of (5) trillion dinars and issuing new national bonds with (5) trillion dinars, and with a rise in oil prices, up to (16) trillion dinars, and for this we will have multiple meetings with the competent government agencies to find out the details of that process and how it is possible to fill the deficit away from borrowing and reduce it."

On Wednesday (May 22, 2024), the Parliamentary Finance Committee began holding its first meeting after receiving the 2024 budget tables, to review the budget tables and start studying them for the purpose of proceeding with their approval.

Later, the Finance Committee confirmed in a statement that it held its first meeting on the Federal Budget Law for the year 2024 with the aim of developing a comprehensive plan to review and analyze the budget tables and items related to them after their arrival from the Prime Minister's Office

**************

Tishwash: China: We support the development of Iraq's economy and are confident of securing our companies and individuals working there

On Wednesday, Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fouad Hussein, held discussions with Wang Yi, member of the Political Bureau of the Central Committee of the Communist Party and Minister of Foreign Affairs of the People's Republic of China, on the sidelines of the tenth session of the ministerial meeting of the Arab-Chinese Cooperation Forum currently held in Beijing.

During the meeting, Chinese Foreign Minister Wang Yi renewed his welcome to accept the invitation to visit Iraq, and also welcomed the holding of the joint Iraqi-Chinese committee meeting scheduled to be held in Baghdad.

The meeting discussed many bilateral issues of common interest between the two countries, including political, economic and military issues. China is Iraq's first trading partner and one of the largest importers of Iraqi crude oil, and it has a large number of companies working in various fields to advance the Iraqi economic situation.

Hussein touched on the development project launched by the Iraqi government, which links Iraq from the port of Al-Faw to Turkey and Europe in the north, and the possibility of aligning this strategic project with the Chinese Belt and Road Initiative, which Iraq joined in 2015.

Hussein stressed the Iraqi government's efforts to diversify the sources of the economy in the fields of agriculture and religious tourism, and called on Chinese companies to invest in the field of alternative energy and gas, noting that Iraq will play an important role in investing in associated gas.
They also discussed banking and financial cooperation between the two countries, as well as China’s support for Iraq to obtain financial financing for investment in infrastructure projects from the Asian Infrastructure Investment Bank, especially in development road projects.
The two sides appreciated the diplomatic efforts in opening the Iraqi Consulate General in Guangzhou and the Chinese Consulate in Basra, as well as welcoming the opening of the Beijing-Baghdad line of Iraqi Airlines.

Wang Yi stressed China's continued support for Iraq's efforts to preserve its sovereignty and develop its economy and in the field of combating terrorism and rejecting all foreign interference. He also expressed his confidence that Iraq will provide security guarantees to Chinese institutions, companies and individuals working in Iraq.

For his part, Fouad Hussein stressed the ongoing cooperation between the two countries in the field of mutual support for international positions, pointing to Iraq’s important role in improving relations in the countries of the region, especially in bringing the views between Saudi Arabia and Iran closer. He appreciated the Chinese efforts on all pivotal issues, including the Palestinian issue and its decisions. link

Iraq Economic News and Points To Ponder Late Wednesday Evening 5-29-24

The Central Bank Concludes A Symposium On Compliance And Anti-Money Laundering

May 29, 2024 The Central Bank of Iraq, Kurdistan Region Branch, concluded an educational seminar targeting workers in mediation companies for buying and selling foreign currencies within the geographical area of ​​the branch.

The organizers of the symposium presented the concepts of controls and instructions regulating the work of exchange and brokerage companies in the sale and purchase of foreign currencies, amended No. (1) of the year 2022, and

introduced the law on combating this phenomenon, No. (39) of 2015, as well as

explaining the concepts and mechanisms for the success of the project of merging brokerage companies in the sale and purchase of currencies.

Foreign companies to form exchange companies under categories (A and B) and provide modern banking services and expand them for the purposes of combating money laundering and terrorist financing in accordance with international requirements and standards.

This symposium comes within a series of specialized seminars and workshops organized by the Central Bank, focusing on combating the crime of money laundering and terrorist financing and regulatory requirements in accordance with compliance controls. Central Bank of Iraq information Office May 29, 2024 https://cbi.iq/news/view/2594

Association Of Banks: The Joint Committee With The American Side Will Begin Its Work Next Month

President of the Iraqi Private Banks Association, Wadih Al-Handal Economy News – Baghdad The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed on Wednesday the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next month.

Al-Handal said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “the Prime Minister’s recent visit to the United States of America had a great impact on the understanding with the American side,” indicating that “what is important in this understanding is the formation of the committee that will begin... Its first meeting is at the beginning of next June.

He added, "We are very optimistic about this committee, which will be concerned with correcting the situation and returning the banking sector as much as possible to what it was, including dealing with correspondent banks and other clear points at the Central Bank of Iraq, including compliance and training of human cadres, including requirements related to money laundering."

He continued, "What was mentioned above is adopted by correspondent banks, in addition to the standards of disclosure and transparency of sources of funds, and these are the ABCs known in banking, and we sense all the seriousness and have great confidence in the direction of the Prime Minister and the Central Bank of Iraq for this," pointing out, "We are working in the banking sector currently." "To open more horizons for working with correspondent banks."

165 views 05/29/2024 - https://economy-news.net/content.php?id=43828

Oil Prices Rise To More Than $84 Per Barrel

Economy | 09:28 - 05/29/2024 Oil prices rose during early trading on Wednesday, thanks to expectations that the main producers will continue production cuts at the OPEC+ alliance meeting scheduled for Sunday, as well as expectations of an increase in fuel consumption with the start of the peak demand season in the summer.

Brent crude futures for July delivery increased by 27 cents, or 0.3 percent, to $84.49 per barrel by 0042 GMT. US West Texas Intermediate crude futures for July rose 35 cents, or 0.4 percent, to $80.18.

Traders and analysts expect the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, to maintain voluntary production cuts, which total about 2.2 million barrels per day. https://www.mawazin.net/Details.aspx?jimare=248806

Visa Reinvents Cards And Unveils New Digital Products

Launch of Visa Pay, a payments platform that delivers world-class digital mobile payments experiences

May 29, 2024 Last updated: May 29, 2024

Independent/- Today, within the framework of the activities of the annual Visa Payments Forum in the Central and Eastern Europe, the Middle East and Africa region,

Visa revealed a package of new products and services that herald a radical transformation in card services and meet the future needs of its customers, consumers, merchants and financial institutions throughout the region.

As payment methods have changed over the past five years from what they were previously, these new innovations will provide unique payment experiences to create a qualitative shift in commercial and financial activity, including e-commerce, in-store shopping, and money transfers.

On this occasion, Visa’s Regional President for Central and Eastern Europe, the Middle East and Africa, Andrew Torrey, said:

“The significant acceleration in the growth of digital payments across the Central and Eastern Europe, Middle East and Africa region has led to a major shift in the ways we pay and collect money online and in stores.

As we continue our mission to shape the future of commerce, we are excited to support our customers, partners, consumers and merchants with the next generation of pioneering digital payment experiences.

Today, we are unveiling new card features and digital innovations that will provide consumers and merchants with more personalized, convenient, secure and comprehensive solutions.”

Visa offers a range of innovative solutions that support digital identity, seamless payment experiences, flexible payments, accepting digital payments for microbusinesses, and protecting the security of account-to-account payments.

Additionally, Visa announced the launch of its new payments-as-a-service platform, Visa Pay, which provides world-class mobile experiences for digital payments and intra-remittance transfers across the Central and Eastern Europe and Middle East Africa regions.

This platform includes a comprehensive set of payment capabilities, and allows banks to deploy innovative and rapid solutions including digital card issuance requests, payment initiation order management, click-through payment, fraud and risk management, digital wallet platforms, and many more.

The new products and services Visa unveiled today, which will begin rolling out later this year, include:

Flexible Visa Credentials

The provision of flexible credentials from Visa will allow customers to switch between different payment methods using a single card, providing greater choice for customers who can now set specific payment criteria or choose one of the payment methods that include debit cards, credit cards, or pay in four instalments., redeem reward points, or even pay in another currency.

This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Accepting Payments From Micro Business Owners

With an estimated 120 million formal and informal small and micro business merchants unable to accept digital payments in the CEE region, Visa is developing new ways to enable digital payments using virtual cards and credentials.

In this context, the company this year will provide new methods of payment via mobile devices to all merchants, including:

* USSD Push Payments: Allows digital payments via any mobile phone that supports this feature.

* Small Business Owner Acceptance: This allows money to be transferred from consumer to merchant through smartphone devices.

* Mobile tap: Any device can now become a point of sale (POS) by simply tapping a card or digital credential.

Visa Payment Passkey Service

Identifying people in the digital world has become very complex; This has naturally led to a significant increase in fraud, with online payment fraud today being seven times higher than in-person payments.

Based on the latest Fast Verification of Identity Online (FIDO) standards, the Payment Passkey service can confirm a consumer's identity and enable online payment through a quick scan of their biometrics such as their facial features or fingerprint.

Visa passkeys replace one-time passwords or codes when shopping online, allowing for more seamless and secure transactions.

This service also confirms the consumer's identity without interrupting the payment process, as well as enhancing security levels and reducing friction when paying digitally - through any device or website - worldwide.

Click To Pay

Visa has launched Click to Pay to provide a more seamless and secure payment experience on a broader scale, where consumers only need their email, phone number or Visa payment passkey to complete online payments.

Additionally, Visa will collaborate with card issuers in several markets around the world to enable Click to Pay and Visa Payment Passkey services on new Visa cards, reducing manual entry of card details and passwords from the moment you start using the card.

The “Click to Pay” service is available today in the Central and Eastern Europe, Middle East and Africa regions.

Visa Protection for Account-to-Account (A2A) Payments

Visa processes more than 200 billion transactions annually and analyzes 500 data elements in each transaction to detect and stop fraud in real time.

By collaborating with real-time payments (RTP) networks around the world and leveraging decades of experience, Visa is working to use artificial intelligence to reduce fraudulent attempts in account-to-account payments across these networks.

Visa's P2P protection service has already identified 60% of fraud across real-time payments channels, which financial institutions in the UK and Latin America had not previously detected.

This service is scheduled to be available in the Central and Eastern Europe, Middle East and Africa regions in the coming months.

Visa Pay Platform

Visa Pay is a payments-as-a-service platform that allows banks to quickly launch a range of new digital services for consumers and sellers through their mobile banking apps to stay ahead of consumers' digital preferences.

This platform enables digital card issuance applications, payment initiation order management, pay-per-click, risk and fraud management, tokenization, digital wallet platforms, and issuer processing through a partner.

This platform allows banks to enhance their applications on mobile phones, as consumers will enjoy world-class user experiences via mobile phone to complete digital payments and financial transfers, as well as enhance security levels and reduce fraud attempts.

The Visa Pay platform is scheduled to be launched in the Central and Eastern Europe, Middle East and Africa regions in the coming months. https://mustaqila.com/visa-تعيد-ابتكار-البطاقات-وتكشف-عن-منتجات/

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Character:

Always do right. This will gratify some people, and astonish the rest.-Mark Twain

He's an honest man - you could shoot craps with him over the telephone.-Earl Wilson

The man whose conscience never troubles him must have it pretty well trained.-Anonymous

Too often when conscience tries to speak, the line seems to be busy.-Anonymous

Generous people are rarely mentally ill people.-Karl Menninger

When wealth is lost, nothing is lost; When health is lost, something is lost; When character is lost, all is lost!-Anonymous

The great hope of society is individual character.-William Ellery Channing

Conscience is a treacherous thing, and mine behaves badly whenever there is a serious danger of being found out.-Margaret Lane

http://famousquotesandauthors.com/topics/character_quotes.html

http://famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Wednesday Evening 5-29-24

Good Evening Dinar Recaps,

~~~~~~~~~

~~~~~~~~~

© Goldilocks

~~~~~~~~~

Project Tourbillon explores anonymity for digital payments |Youtube

~~~~~~~~~

Semler Scientific unveils strategy for Bitcoin Treasury |Crypto News

~~~~~~~~~

Ripple and Axelar Foundation Partner to Enhance XRP Ledger’s Interoperability Across Blockchains |Axelar

Ripple and Axelar Foundation are partnering to bring seamless interoperability to the XRP Ledger (XRPL) across a diverse range of blockchain networks. XRPL is a decentralized, layer 1 blockchain with reliability and stability proven for over a decade that is trusted by businesses and builders globally for the efficient tokenization and exchange of crypto-native and real-world assets. This collaboration aims to drive forward a more interconnected blockchain ecosystem, offering developers new opportunities for integration and application development. Axelar’s network will serve as an additional resource to further broaden XRPL's utility and reach.

~~~~~~~~~

Digital Asset Investor |Twitter

~~~~~~~~~

Microsoft introduces Copilot bot for Telegram users; here's how it works -BusinessToday

~~~~~~~~~

READ PDF HERE

~~~~~~~~~

~~~~~~~~~

IMPORTANT Iraq Loosing Millions Each Month |Youtube

~~~~~~~~~

European Commission Arm Says Convergence of Blockchain and AI Is ‘Upcoming Trend’ To Watch -The Daily Hodl

~~~~~~~~~

Master of Science in Digital Financial Technologies (Fintech) |Kennesaw State University

Here is another one. Do you see a trend?

~~~~~~~~~

Follow Goldilocks'Roadmap

Follow Goldilocks'Timeline

Goldilocks'Telegram Room

Q & ATelegram Room

Goldilocks on theSeeds of Wisdom Team™Website

Subscribe toNewsletter

Thank youDinar Recaps