Iraq Economic News and Points to Ponder Thursday Evening 3-28-24

Iraq Economic News and Points to Ponder Thursday Evening 3-28-24

Tlm724 Administrator Bondlady’s Corner

Electronic Payment Is Sustainable Growth

 Economical 03/28/2024  Muhammad Fadel Al-Khafaji  Electronic payment is one of the modern innovations that enhances economic growth in the country, as it allows individuals and companies to conduct financial transactions with ease and safety, by  supporting the growth and sustainability of the local economy while  maintaining its stability and economic standing.

 The electronic payment process contributes significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure of payment systems and their platforms through central control managed by the Central Bank of Iraq, banks, and payment service providers, as it is an important link in a major goal that seeks to achieve Reducing the phenomenon of cash economy.

  Electronic payment reduces momentum within banks and facilitates the process of e-commerce and online shopping.  Thanks to this technology, companies can  reduce costs,  increase productivity, and  drive transactions through banking and financial channels, which enhances sustainable economic prosperity in the country.

Electronic payment contributes to improving flexibility and speed in payment processes, allowing individuals and companies to execute transactions immediately and without delay.

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Iraq Economic News and Points to Ponder Thursday Afternoon 3-28-24

Iraq Economic News and Points to Ponder Thursday Afternoon 3-28-24

Tlm724 Administrator Bondlady’s Corner

Parliamentary Expectations That The Dollar Exchange Rate Will Reach 140 Thousand Dinars

Economy | 03/28/2024  Mawazine News – Baghdad  MP Mudar Al-Karawi confirmed today, Thursday, that the parallel market decreased by 10% within 3 months in Iraq.

Al-Karawi told Mawazine News, “The efforts of the Central Bank and the actions of the Ministry of Finance reduced the influence of the parallel market and led to a reduction in the exchange rate by 10% within 3 months.”

He added, "The exchange rate reaching 140,000 dinars per $100 is very likely in the coming weeks."

He pointed out that "reducing smuggling, automating procedures, and controlling the movement of money and payments are all reasons that contributed to creating financial stability and pushing the parallel market to decline, albeit very slowly."

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Possible Bank Perks to ask for at your Exchange Appointment .

Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest:  Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team

From Recaps Archives:

Possible Bank Perks to ask for at your Exchange Appointment .
 
AUM - Assets Under Management

1. No fees ever for foreign currency exchanges

2. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an non-interest-bearing account overnight and sweep those funds into other non-interest bearing accounts within your bank the following day; until I meet with bank advisers and other financial professionals and make some general guidelines for the management of these funds and the distribution of a portion of these funds through your bank, trust, and LLCs.

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Economist's "News and Views" Thursday 3-28-2024

Gold’s Rise Signals a “Major Paradigm” Shift in Global System, Be Prepared Warns Billionaire Kaplan

Daniela Cambone: 3-28-2024

Could history repeat itself, ushering in a new era of gold-backed currencies? Or is gold's meteoric rise signaling a paradigm shift in the global monetary system?

Join Daniela Cambone for an exclusive conversation with Dr. Thomas Kaplan, Chairman of NOVAGOLD and Chairman and CEO of The Electrum Group at the New York Stock Exchange.

They delve into a range of topics, from the geopolitical landscape to how FOMO — the fear of missing out — influences investor behavior, market dynamics, the potential for gold and gold equities, and beyond.

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Goldilocks' Comments and Global Economic News Thursday Afternoon 3-28-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 3-28-24

Good Afternoon Dinar Recaps,

"The collapse of a major bridge along a crucial trade corridor outside Baltimore idled shipping at one of the East Coast’s busiest ports, tied up coal shipments, and pushed retailers, truckers, and industrial firms to reroute shipping volumes to contain the economic fallout of the catastrophic event."

An event of this magnitude does take a toll on an already fragile Market. We have to remember Market shifts such as these do not happen right away.

The market lags behind a good 4 to 5 days before events like this begin to show up. We will have a choice to add liquidity to the market inflating it more, or we will witness it go to a real value.

The Dow is at its maximum price ever, and there is not another referencing price to match it.

This has the potential to cause an aggressive movement downward to its 200-day moving average. And, an event like this in the shipping industry could take months to years to recover.

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Iraqi News Highlights and Points to Ponder Thursday Afternoon 3-28-24

Iraqi News Highlights and Points to Ponder Thursday Afternoon 3-28-24

A Deputy Expects The Dollar Exchange Rate To Reach 140 Iraqi Dinars

Today 10:32   Information/Baghdad  Representative Mudar Al-Karawi confirmed today, Thursday, that the parallel market decreased by 10% within 3 months in Iraq.

Al-Karawi told Al-Maalouma, “The efforts of the Central Bank and the measures of the Ministry of Finance reduced the influence of the parallel market and led to a reduction in the exchange rate by 10% within 3 months.”

He added, "The exchange rate reaching 140,000 dinars per $100 is very likely in the coming weeks."

He pointed out that "reducing smuggling, automating procedures, and controlling the movement of money and payments are all reasons that contributed to creating financial stability and pushing the parallel market to decline, even if very slowly."  LINK

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More News, Rumors and Opinions Thursday Afternoon 3-28-2024

KTFA:

Henig:  Việt Nam tackles obstacles to stock market upgrade

March 25, 2024

The SSC has proposed that the MPI work alongside other relevant ministries and agencies to expand foreign ownership limits in non-essential sectors.

HÀ NỘI – Việt Nam's ambition to elevate its stock market from "frontier" to "emerging" status by 2025 faces two key hurdles, including pre-trade margin requirements for foreign investors and foreign ownership ratios in certain sectors, said Deputy Director of the Securities Market Development Department under the State Securities Commission (SSC) Phạm Thị Thùy Linh.

Despite successfully meeting seven out of the nine established criteria for the upgrade, the two other requirements remain considerable roadblocks.

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"Tidbits From TNT" Thursday 3-28-2024

TNT:

CandyKisses:  Al-Yasiri: The US administration is working hard to destroy the Iraqi economy

Information/Baghdad...Political and security analyst Mohammed al-Yasiri on Thursday accused the US administration of continuing its hostile policy to destroy the Iraqi economy.
Al-Yasiri told Al-Maalouma that "the US Treasury Department continues to tighten the noose on the flow of dollars to the Central Bank of Iraq and reduce cash liquidity."

He pointed out that "the US administration is working hard to restrict the Iraqi government and dissuade it from demanding the removal of its occupying forces from the country."

He continued, "The US tightening on Iraq on the dollar clearly confirms the lie of the so-called friendship of the United States of America to Iraq.

"The US Treasury Department imposed economic sanctions on eight Iraqi banks recently, preceded by sanctions on fourteen others, and prevented them from dealing in the dollar currency, as the reasons behind the imposition of such sanctions were not explained.

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