WOTS WED JUN 30 21 A local international partnership to develop electronic payment for all Iraqis
I did not record a My FX Buddies Podcast for this day.
The first box is translating to say the trade balance in the country One of the most important exchange rate change
The 2nd box is translating to say The decision to change the exchange rate, the salaries of employees in state dollars, and retirees as well
The 3rd box is translating to say The exchange rate comes in order to bridge the budge deficit by 12 trillion dinars
The 4th box is translating to say A legal expert speaking ARA changed the dollar exchange rate from 1180 to 1460 dinars against the dollar
I will do the bottom 4 later...
The dollar exchange rates in the local markets, for Wednesday (June 30, 2021), according to specialists' monitoring.
Baghdad - Stock Exchange of struggle الكف
147,000
....
Exchange rate (approximate)
146,500
147,500
—————————————————
Basra/ Bursa
147,100
-——————————-
Mosul / Bursa
147,350
——————————-
Erbil / Bursa
147,350
——————————-
Najaf / Bursa
147,000
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1458.0000 | 1463.0000 | 1457.8000 | 1457.6000 | 1457.6000 |  -0.4000 | 00:00 |
| USD/VND | 23014.0000 | 23018.0000 | 23012.9900 | 23008.1700 | 23008.1700 | 5.7300 | 22:41 |
| USD/CNY | 6.4569 | 6.4589 | 6.4633 | 6.4528 | 6.4631 | -0.0063 | 05:21 |
| USD/KWD | 0.3006 | 0.3016 | 0.3009 | 0.3007 | 0.3009 | -0.0002 | 05:21 |
| GBP/USD |  1.3854 | 1.3855 | 1.3860 | 1.3816 | 1.3823 | 0.0032 | 05:28 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14522.0000 | 14534.0000 | 14591.0000 | 14498.0000 | 14562.0000 | -39.0000 | 05:26 |
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A local international partnership to develop electronic payment
In Baghdad, I announced a local international partnership that aims to develop the reality of electronic payment in Iraq, and to shift from a cash society in transactions to an electronic one that is characterized by safety and speed in all transactions, benefiting from global experiences in this field.
The new partnership that brought together the international company PayTabs and local funds is looking to give a new impetus forward in the field of electronic payment in Iraq in light of the expansion of use of carrier phones and the large number of users.
Regulatory legislation
The expert in the field of electronic payment, Hayan Khaduj, said: {E-commerce in Iraq needs legislation regulating its work mechanisms, especially since it can now be described as random}.
He pointed out that {the Iraqi market is important and large, and it must have the required regulation by everyone in the public and private sectors, at a time when we find global interest in the subject of electronic experiments rising at great rates in various parts of the world}.
Specialized platforms
The specialist in the matter of electronic payment, Muhammad Walid, stressed that {the Iraqi market must advance the reality of electronic payment through specialized platforms that provide advanced services that suit the public's preferences}.
As for PayTabs founder Abdul Aziz Al-Jaf, he said: {Iraq is one of the largest countries that will adopt electronic payment, as this market requires many and varied products that are commensurate with its size, as it provides flexibility for entrepreneurs and companies.}
health condition
The electronic payment specialist, Ahmed Al-Qarmli, indicated that {the health situation that the world experienced due to the spread of the Corona epidemic hastened the expansion of the reality of electronic payment, especially in Iraq, as the scope of electronic transactions expanded and this boosted the density within the local market.}
In turn, Ziyad Al-Hasani, director of an electronic payment platform, said: {Iraq is a young man in the field of electronic transactions, but it can be described as virgin, which encouraged the creation of new platforms specialized in this field, and here we can say: This large and promising market needs more regulation.”
Parliamentary legal reveals new details about the joint meeting with the Governor of the Central Bank
The Parliamentary Legal Committee revealed new details of the parliamentary meeting with the Governor of the Central Bank and the directors of the housing and real estate banks, Al-Rafidain and Al-Rasheed.
Member of the committee, Representative Hussein Al-Aqabi, said, in a statement to the National Iraqi News Agency ( NINA ), that "there are major gaps in the work of banks, some of which exist because of the banks themselves, and others are linked to government agencies and other institutions, including border crossings, customs, the Real Estate Department, the Companies Registrar, and the Ministry of Trade."
He added, "These loopholes create noticeable confusion and corruption operations, especially in the currency auction," noting that "the meeting discussed the repercussions and damages of the currency auction, as we proved its economic feasibility and the need to search for other mechanisms in marketing the currency for real "field" traders who invest foreign currency. Actually importing goods, goods and services from abroad.”
He explained, "We confronted the governor of the Central Bank with facts and evidence that the currency auction is supported by parasitic banks and banks whose function is only investment, and therefore we are waiting for the bank's governor's actions regarding it."
Today, Tuesday, the committee to follow up on the implementation of the government program and parliamentary strategic planning held a joint meeting with the governor of the Central Bank and directors of housing, real estate, Rafidain and Rashid banks, on evaluating the performance of banks and general financial and monetary policy.
Adviser to the Prime Minister of Iraq: The Law on Reconstruction and Investment is on its way to "representatives"
Mubasher: Sabah Abdul Latif Mushtat, advisor to the Iraqi Prime Minister for Reconstruction and Investment Affairs, confirmed today, Monday, that the Law on the Reconstruction and Investment Council is on the way to legislation, while noting that the law will set a strategy for building the country.
Mushtat told the Iraqi News Agency (INA), that "the Law of the Reconstruction and Investment Council began as an idea in the time of the government of former Prime Minister Adel Abdul-Mahdi, as it was reformulated after it was discussed in the State Council, but the government changed," noting that "one of the provisions of the government program for the government of The current Prime Minister, Mustafa Al-Kazemi, is to establish the Council for Reconstruction and Investment.
He added: "At the beginning of the formation of the government, the Law of the Reconstruction Council was sent to us and a committee was established with the membership of Suha Al-Najjar, who was the Prime Minister's advisor for investment, the legal advisor to the Prime Minister and the director of the legal department in the Ministry of Finance, and I as an advisor for reconstruction and services affairs, as our proposal was to change his name from the Reconstruction Council to The Council for Reconstruction and Investment," noting that "the law is currently on its way to the House of Representatives for approval."
He continued, "The House of Representatives will not deal with the law with priority because the remaining period of its life is short, and there are projects that must be approved," explaining: "We are waiting for its approval to develop a reconstruction strategy in the country."
The previous government, headed by Adel Abdul-Mahdi, voted on the draft law on the Reconstruction Council for the purpose of submitting it to the House of Representatives, where the draft law was prepared jointly by the Presidencies of the Republic and the ministers, benefiting from the advice of many experts and competencies.
The draft law aims to establish infrastructure and establish major projects in the country such as roads, bridges, airports and ports, in addition to eliminating unemployment by encouraging investment and employing manpower, following up on the establishment of strategic, industrial, agricultural, health and housing projects, and sustaining their operation in accordance with international standards and concepts.
The project authorized the Reconstruction Council to have broad powers such as contracting, control, supervision, implementation and management of major projects effectively, creating job opportunities, maximizing the benefit of Iraqi citizens from state resources by distributing project profits to them, giving them priority in subscribing to the Council’s projects, and implementing development projects of economic importance to develop and diversify the resources of the Council. Iraq, material and human, and the establishment of active national sectors capable of free competition and advancing the wheel of development forward.
CBI Update: Just a note:
including $19,790,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
6-29-2021 Newshound Guru Kaperoni ...'program rate' again. That is a made-up term that is misconstrued from the IMF Article IV Consultations. The exchange rate of the dinar is the exchange rate. It is not a program rate. ...[Guru] Mtn Goat thinks Iraq cannot float the currency from a 'program rate.'...If and when the dinar floats, it will float from the rate it is at the time.
6-29-2021 Intel Guru MarkZ [via PDK] ...there is great expectations of bond redemptions today and tomorrow...If this is indeed to take place they need the RV immediately on its heels. Lots of chatter but nothing solid yet today. A lot of bankers who had left are now back in place...
6-29-2021 Intel Guru Frank26 Article, I've got a picture of it I was so impressed with it. I said, "WHAT!" Holy cow, they just told the world that they are making a change to their exchange rate. What have we been saying this entire time? The only reason the Kuwait conference failed was because they didn't go Article VIII. Now the only reason those same companies, those same countries are pouring in is because they are Article VIII which is attached to the fact that they made a change to the exchange rate for their currency. For them to say it...oh my goodness! That was it!
6-29-2021 Intel Guru Holly Tuesday RV News: I have many confirmations that our long awaited blessing is upon us...The meetings yesterday went well and the go was given. We are in the most optimal time for this to happen...I expect notifications by today or tomorrow.
6-29-2021 Newshound Guru Pimpy Now that makes it very realistic that the IQD can indeed be revalued around $3.00 if not more. I'm not saying that's the rate. I'm saying now that is a more realistic rate given the fact that we know for sure now that the amount of existing IQD has been reduced by at least a minimum of 70%...this is great news. That means the amount of money in the hands of speculators is very low. [post 2 of 2]
6-29-2021 Newshound Guru Pimpy Something like 95% of the [IQD] supply is out of country. 5% of it is in country. I can tell you this that the big portion of the existing IQD is in the hands of banks...a lot of people talk about having IQD, how many people actually have it? The average speculator has 250,000 IQD...So if they removed 70% of the money supply, plus all the ones that have been damaged just through wear and tear, ones that were taken by ISIS, ones damaged during the flood, that means the actual amount of IQD out there is very low. [post 1 of 2]
6-29-2021 Newshound/Intel Guru Petra It's very clear to me the progress has been absolutely phenomenal. If you were to put on a chart the amount of conversation that has gone from the CBI...the last two weeks have been off the charts. And the right people are talking. Basically setting the stage...there is clear evidence that a campaign has been going on now for a little over a week, maybe longer. It's talking to the citizens about what is coming...they have carefully and clearly and strategically been letting out information...IMO they are executing on a very tight plan.
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