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

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,

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READ DOC Here:

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

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

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

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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

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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...

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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

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

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

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

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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?

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

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All Time High Asset Prices |Youtube

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Ripplesubmits a letter to Judge Torres:

1 & 2

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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

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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

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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

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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

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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

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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

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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,

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© Goldilocks

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Project Tourbillon explores anonymity for digital payments |Youtube

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Semler Scientific unveils strategy for Bitcoin Treasury |Crypto News

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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.

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Digital Asset Investor |Twitter

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

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READ PDF HERE

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IMPORTANT Iraq Loosing Millions Each Month |Youtube

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

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

Here is another one. Do you see a trend?

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

Economist: The budget is not affected by the dollar exchange rates... and explains why

Time: 05/28/2024 15:33:18 Read: 3,458 times {Economic: Al-Furat News} An economic expert ruled out that the financial budget was affected by the dollar exchange rates.

Bassem Jamil Antoine told Al-Furat News Agency, “The budget is not affected by the rise or fall of the dollar exchange rates, because Iraq will receive the dollar from oil exports, and on the contrary, revenues increase with the increase in dollar prices globally.” He stated that "market obligations are dealt with in the Iraqi dinar, and there is no dealing in the dollar, and the budget is built primarily on the Iraqi dinar and not on the dollar, so the budget is never affected by the dollar exchange rates."

https://alforatnews.iq/news/خبير-اقتصادي-الموازنة-لا-تتأثر-بأسعار-صرف-الدولار-ويوضح-السبب

The United States Ambassador Praises Iraq's Ratification Of The Electronic System

The US Ambassador to Baghdad, Elena Romanowski, praised Iraq's official ratification of the electronic payment system at the end of April.

Romanowski previously described this approval in her blog on the X-Twitter platform as great news.

He added that this step will pave the way for a modern financial system and economic growth, noting that this ratification was a joint effort by the United States Agency for International Development, the Central Bank of Iraq, and the United Nations Development Programme. https://www.radionawa.com/all-detail.aspx?jimare=38375

A Decline In Dollar Exchange Rates In Baghdad, Basra And Erbil

Wednesday 29, May 2024 10:55 | Economical Number of readings: 294 Baghdad / NINA / The exchange rates of the dollar against the dinar witnessed a decline this morning, Wednesday, in Baghdad, Basra, and Erbil. Below is a list of dollar selling prices: $100 = 144,900 dinars in Baghdad $100 = 144,950 dinars in Basra $100 = 144,900 dinars in Erbil.

https://ninanews.com/Website/News/Details?key=1129415

The British Ambassador: We have a desire to strengthen Iraq's friendship and support it in reconstruction

Economy News – Baghdad The British Ambassador to Iraq, Stephen Charles Hutchin, confirmed, on Wednesday, during his meeting with the President of the Republic, Abdul Latif Jamal Rashid, his country’s desire to strengthen cooperation with Iraq and provide support in construction and reconstruction.

The Presidency of the Republic stated in a statement, seen by Al-Iqtisad News, that “President of the Republic, Abdul Latif Gamal Rashid, received, today, Wednesday, at Baghdad Palace, the British Ambassador to Iraq, Stephen Charles Hutchin.”

According to the statement, Rashid stressed "the importance of strengthening bilateral relations between Iraq and the United Kingdom, expanding the horizons of economic, investment and technological cooperation, and joint work to confront climate and environmental changes."

He pointed out that "the security and political stability that the country is witnessing and their positive repercussions on the economic, service and living aspects," stressing Iraq's keenness to establish balanced relations with its regional surroundings in accordance with the principles of good neighborliness and in a way that preserves its security, stability and national sovereignty.

For his part, the British ambassador affirmed his country's "desire to strengthen relations of cooperation and friendship with Iraq and support it in the sectors of economic and social development, construction and reconstruction." Views 87 05/29/2024 - https://economy-news.net/content.php?id=43839

The Central Bank to NINA: The expansion of electronic payment operations will push towards the adoption of electronic signature in Iraq

Wednesday 29 May 2024 17:31 | Economical Number of readings: 340 Baghdad / NINA / The Central Bank of Iraq stressed the importance of proceeding with the adoption and implementation of the electronic signature project in Iraq.

Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in a statement to the National Iraqi News Agency ( NINA ): “The expansion of the use of electronic payment operations will impose the need to implement the electronic signature.”

He added: "The need for paper signatures in government transactions and official papers will diminish in the future, until the need disappears completely with the expansion of the use of electronic payment processes and electronic signatures in daily transactions. There will be an obligation to amend laws or implement previous legislation related to electronic signatures."

Last March, the Ministry of Communications announced that 90% had been achieved in the electronic signature project, which aims to include Iraq in the list of countries in the world whose electronic transactions are recognized as reliable, upon adopting the electronic signature in these transactions, which can be issued to any citizen or governmental or private entity.

Desiring to obtain it by obtaining the internationally accredited electronic certification certificate, which will be issued by the Ministry of Communications in accordance with the law.

She explained: “Adopting the electronic signature in administrative and financial transactions in Iraq will contribute to simplifying procedures and supporting the government’s orientations towards digital transformation. And reducing financial and administrative corruption.”/End 5 https://ninanews.com/Website/News/Details?Key=1129504

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ProvokingThoughts and Points To Ponder on Character:

He liked to like people, therefore people liked him.-Mark Twain

Generous people are rarely mentally ill people.-Karl Menninger

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

You must look into people as well as at them.-Lord Chesterfield

Human improvement is from within outward.-James Froude

Talent is nurtured in solitude; character is formed in the stormy billows of the world.-Goethe

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

Every man has three characters - that which he exhibits, that which he has, and that which he thinks he has.-Alphonse Karr

Not in the clamor of the crowded street, Not in the shouts and plaudits of the throng, But in ourselves, are triumph and defeat.-Henry Wadsworth Longfellow

Who knows nothing base, Fears nothing known.-Owen Meredith

In men whom men condemn as ill I find so much of goodness still, In men whom men pronounce divine I find so much of sin and blot I do not dare to draw a line Between the two, where God has not. -Joaquin Miller

In this world a man must either be anvil or hammer.-Henry Wadsworth Longfellow

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Iraq Dinar-IQD-Update-Digitial Transformation-New Cash Denominations-IMF-Ratification-Electronic Pay

MilitiaMan and Crew: 5-29-2024

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=nA7JGVwfxTQ

TNT:

CandyKisses: Oil rises amid expectations of major producers maintaining production cuts

Economy News _ Baghdad

Oil prices rose in Asian trading on Wednesday amid expectations that major producers will maintain production cuts at Sunday's meeting, and that fuel consumption should start rising at the start of the peak demand season in the summer.

Brent crude futures for July delivery rose 15 cents, or 0.2 percent, to $84.37 a barrel by 0304 GMT. U.S. West Texas Intermediate crude futures for July rose 25 cents, or 0.3%, to $80.08.

Both benchmark crudes rose more than 1% the previous day.

Traders and analysts expect the Organization of the Petroleum Exporting Countries and its allies including Russia, known as the OPEC+ group, to maintain voluntary production cuts totaling about 2.2 million bpd.

Monday's Memorial Day holiday marks the start of peak demand in the United States, the world's biggest oil consumer, and maintaining production cuts would keep prices supported as consumption rises.

Increased fighting in the Gaza Strip as Israeli tanks advance into the heart of the Rafah Strip has also provided some price support amid fears that the conflict could spill over into the greater Middle East, the main supply area.

Investors are also awaiting U.S. crude inventories data from the American Petroleum Institute, which will be released later in the day. The release of the data was delayed by a day due to the Memorial Day holiday on Monday.

A preliminary Reuters poll on Tuesday showed U.S. crude oil inventories were expected to fall by about 1.9 million barrels last week.

Investors are also awaiting US inflation data this week which could weigh on expectations of a rate cut from the Federal Reserve and weigh on oil prices.

The US Core Personal Consumption Expenditure Price Index (PCI) report for April is due on Friday. The Fed's preferred inflation gauge is expected to remain flat on a monthly basis.

Expectations about the timing of the rate cut have fluctuated, with policymakers concerned as the data still reflects flat inflation

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CandyKisses: Al-Sudani chairs the second meeting on the follow-up of agreements and memoranda concluded with Turkey

Baghdad /Nina/ Prime Minister Mohammed Shia Al-Sudani chaired the second meeting on the follow-up of agreements and memoranda concluded with Turkey, during the recent visit of the Turkish President to Iraq.

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CandyKisses: Good news regarding the federal budget

Shafaq News / The coordination framework held a meeting on Tuesday in the presence of Prime Minister Mohamed Shia Al-Sudani.

A statement after the meeting said that the meeting deliberated on the financial budget tables and stressed the need to approve them to achieve the interests of citizens and support the economic situation.

The meeting also stressed the importance of proceeding with the election of the Speaker of the House of Representatives as soon as possible.

A political source revealed to Shafaq News Agency on Monday that the reason for the meeting is due to objections to the budget tables sent by the Iraqi government, by the framework forces and refused to pass them in their current form.

The government had sent the budget tables to parliament for a vote after a delay of more than five months as a result of technical problems centered on the size of the deficit, and the government's attempts to reduce it.

There was controversy over the budget tables after allocating an investment budget to the provinces amounting to 41 trillion Iraqi dinars, which some saw as unfair to the provinces by reducing their quotas in exchange for increasing the Kurdistan Region's share of 4 trillion, which the government denied.

The 2024 budget, according to Prime Minister Mohamed Shia Al-Sudani, is 211 trillion dinars, and the salaries of employees for the year 2024 amount to 62 trillion dinars, while the budget for 2023 was 199 trillion dinars and the salaries of employees 59 trillion dinars.

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

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Tishwash: Parliamentary Finance announces the necessity of maintaining the economic foundations in the budget

Iraq Economic News and Points To Ponder Late Tuesday Evening 5-28-24

With The End Of Her Duties Approaching...Plasschaert: I Thank All Iraqis And My Deep Appreciation For The Cooperation And Support...Long Live Iraq

Tuesday 28, May 2024 18:59 | Political Number of readings: 181 Baghdad / NINA / The United Nations envoy to Iraq, Jeanine Hennis-Plasschaert, today, Tuesday, sent a message on the occasion of the approaching end of her term in the country, in which she extended thanks and gratitude to all Iraqis.

Plasschaert said in her message, according to a statement by the United Nations Mission in Iraq (UNAMI): “As my term as Special Representative of the Secretary-General in Iraq approaches its end, I would like to express my deep gratitude and appreciation to all Iraqis, especially those I have met and worked with.”

She added, "Over the past five years, I have been repeatedly touched by the generosity and hospitality of a people who have never deviated from their traditions of welcoming a stranger or helping the needy, even if it was at the expense of their comfort or time. I have learned a lot from listening to Iraqi women and men as they recount their history with pride." ".

She pointed out, "Although many faced serious challenges, optimism for the coming days was always bright. They welcomed me and my other colleagues at the United Nations in their cities and homes, and invited us to join them in a meal or event. They did not miss an opportunity to highlight Iraq's rich culture and enormous beauty, and in every way."

Across the country, including the Kurdistan region, countless people of all ages spontaneously shared, again and again, their hopes and aspirations, and I will never forget any of them.”

She continued, "I truly appreciate the professional meetings and discussions we had with a wide range of partners, from civil society representatives, academics, tribal leaders, and religious leaders to local authorities, governorate authorities, national authorities, judges, security officials, and politicians. It goes without saying that their opinions and viewpoints have taught us a lot and guided our work." .

Plasschaert pointed out that "some of these meetings included people who put aside daily differences to find solutions in the critical stages of Iraq. All of these interactions left an indelible impression on me. I cannot overstate our gratitude to the various agencies of the Iraqi government, which facilitated our work, through the efforts "She tirelessly protected the United Nations staff and its operations."

“None of this means that the United Nations has been immune to criticism – some of it justified, some of it simply based on misperceptions about who we are, and what we can and cannot do,” she stressed. “But talking to those who understand the organization’s values ​​and what it stands for was important.” Very productive. As I have said many times, the United Nations does not have a magic wand.

Ultimately, the balance between conflict and peace, or poverty and prosperity, depends on the political will of countries, but if we can make a difference in people’s lives, it is worth intensifying the work and continuing. In the end, the United Nations has one major priority at its core: to promote peace and prosperity for all – regardless of affiliation, religion, background or race.”

Plasschaert concluded her message by saying, “Once again, I would like to express my deep appreciation and thanks for the generous cooperation and support provided to the United Nations Assistance Mission for Iraq (UNAMI) and the broader United Nations family in Iraq, and to me personally.. Long live Iraq.”/End 8 https://ninanews.com/Website/News/Details?Key=1129285

More Than $283 Million In Iraqi Central Bank Currency Auction Sales

Economy News – Baghdad On Tuesday, the Central Bank of Iraq's dollar sales amounted to more than $283 million at the currency auction.

The Central Bank sold in its auction today 283 million and 73 thousand and 871 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 261 million 993 thousand and 871 dollars, an increase of 94% over cash sales amounting to 21 million and 80 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 7 banks, and the total number of exchange and brokerage companies participating in the auction was 176 companies. Views 79 05/28/2024 https://economy-news.net/content.php?id=43786

Parliamentary Finance Stresses The Importance Of Supporting The Government In Implementing The Government Program

Oil Prices Stabilize With A Balance Between Production Expectations And Interest Concerns

Arab and international Economy News - follow up Global oil prices stabilized on Tuesday, as the possibility of OPEC+ maintaining oil supply restrictions at its meeting on June 2 and expectations of strong fuel demand from the United States during the summer helped balance concerns about the continued rise in US interest rates for a longer period.

Oil prices rose more than 1 percent yesterday, Monday, in quiet trading due to public holidays in Britain and the United States, with expectations of increased demand from the United States with the beginning of the summer holiday season.

Brent crude futures for July rose 38 cents, or 0.5 percent, to $83.48 a barrel by 13:27 GMT.

US West Texas Intermediate crude futures also rose $1.43, or 1.8 percent, to $79.15, compared to Friday's settlement price, after it was traded during an American holiday without settlement.

Charalambos Pisouros, an analyst at brokerage firm XM, said: “Oil has recovered recently, and this may be driven by expectations of strong demand for fuel with increased vehicle driving times during the summer holiday season.”

“Despite the indisputably brighter mood we have seen in the past two days, interest rate concerns will act as a brake on further attempts to raise oil prices significantly in the near future,” said Tamas Varga of brokerage BVM.

All eyes are on the next online meeting of the OPEC+ alliance on June 2, as traders and analysts expect voluntary production cuts to continue at 2.2 million barrels per day.

“The assumption that there will be no changes in production levels is a fair assumption,” Varga said.

Views 56 05/28/2024 - https://economy-news.net/content.php?id=43803

Trade Exchange Between Iraq And China Exceeds 50 Billion Dollars

Economy | 05/28/2024 Baghdad - Mawazine News The Ministry of Foreign Affairs announced on Tuesday that the volume of trade exchange with China exceeded $50 billion in two years.

Deputy Foreign Minister for Political Planning Affairs Hisham Al-Alawi said, “Arab-Chinese relations are important, as the volume of financial cooperation has reached about 400 billion dollars,” pointing out that “China is the largest trading partner and the exchange volume has exceeded 50 percent.”

He added, "The volume of trade exchange between Iraq and China during the past two years amounted to more than 50 billion dollars," noting that "there is advanced cooperation between Beijing and Baghdad in the field of oil and gas, in addition to renewable energy."

https://www.mawazin.net/Details.aspx?jimare=248767

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

Provoking Thoughts and Points to Ponder on Money

Money is the poor people's credit card.-Marshall McLuhan

A man is rich in proportion to the things he can afford to let alone.-Henry David Thoreau

Money is like a sixth sense, and you can't make use of the other five without it.-W. Somerset Maugham

Money swore an oath that nobody who did not love it should ever have it.-Irish proverb

I'm so happy to be rich, I'm willing to take all the consequences.-Howard Ahmanson

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