"In the Coming Days" - Sun. PM (Last Night) KTFA Thoughts, News w/ Frank26, DELTA 5/7/18

by **Ssmith** Tue May 08, 2018 8:21 am

KTFA

Don961 » May 7th, 2018

2018-05-05

National Bank announces the completion of the electronic system for the completion of transactions

The head of the National Retirement Authority, Ahmed Abdul Jalil, announced the completion of the electronic system for the completion of the pension transactions, indicating that the system, which was under examination for 3 months before completion will contribute to the end of the paper transaction and electronic management, which develops the work significantly and provides effort and time and accuracy in the process Transactions.

Abdul Jalil said in a statement the success of the experimental phase of that system and that the next stage will see the deployment of the system to the state departments so that the latter to send pension transactions to the retirement services, which in turn completed and send salaries to banks electronically.

He said that the system will provide a complete database of retirees, which prevents the loss or damage to the transactions of retirees. link

MilitiaMan » May 7th, 2018

This article above having been apparently walked by by many, is after review and conversing with a Basra Boy in our opinion, telling us the National Bank has completed the electronic testing for the system that took a period of three months.

They are all done, as it is now set for the completion or facilitation of transactions for pensioners, employees, etc..

They are telling the citizens it is safe. Don't forget that the Final Articles #84 talk about the final stage is crucial and it needs to be told to the citizens specifically and in those specifics, imo is the date and rate, and with security and stability.

They sure look to be say that they meet that criteria now. ~ MM

Don961 » May 7th, 2018

Local produce and foreign exchange rates

07/5/2018 12:00 am

Walid Khaled Al-Zaidi

Foreign exchange rates in each country are affected by demand and demand. We in Iraq do not go out of this economic process.

Foreign currencies such as the dollar or the euro are rising and their exchange rates fall mainly on the amount of demand by state institutions, private sector companies or individuals To facilitate the process of obtaining goods or services from abroad or in the case of travel to the countries of the world Different.

What is important in this area is the request of the State institutions for foreign currency as the largest source for these currencies, because of its wide circle in economic relations and trade exchanges with different countries of the world dealing with foreign banknotes, which we have difficult currencies, or values of purchase High.

Among the things that the Ministry of Commerce needs from foreign originators are the ration card items, which are available only through the purchase of companies specialized in the supply of food mainly, to deal in foreign currencies, especially the dollar most traded in the world markets, where Iraq believes the ration card items from abroad Over the past period, it is necessary to buy (withdraw) large amounts of the dollar from the foreign exchange market to fill the process Purchase.

Which keeps the exchange rates of the dollar and the rest of foreign currencies for the exchange rate of the Iraqi dinar high relatively.

The recent action of the Ministry of Commerce, which decided to secure the flour and sugar from the local product for the purpose of distribution within the ration items to citizens.

The most important of which is the process of buying these materials from two local crops depending on the national currency (dinar), which reduces the amount of demand for amounts as funds allocated in dollars and other foreign currencies To buy these two items of global originators and ease the financial burdens that weigh heavily on the treasury Country.

In economics and finance, the value of needs increases mainly on increasing demand and vice versa. The value of the dollar is lower than the value of the dinar adopted by the Ministry of Commerce to buy flour as a domestic crop and sugar as crop National.

Such behavior is an important fact that raises a very important issue for the nature of external and internal factors, which contribute to a large extent to the actual need to fall within the framework of national public requirements of domestic payments.

It should be recalled that a group of experts and specialists in financial and economic affairs have been encouraged to process the revaluation of the Iraqi dinar against the value of the dollar and other foreign currencies depending on the frequent circulation in the purchase of ration items and not limited to international purchases that rely on foreign currency from external sources, Is a practical way out of some of the dilemmas suffered by the Iraqi national economy related to the large foreign exchange of the proceeds of Iraqi oil sold in the world crude oil markets.

Iraq, which has risen and overcome many of the challenges and difficulties on the path of emancipation is today in a better way than to open the way for reforms and economic treatments studied that would rid the country of many constraints and self-reliance and the activation of benefits based on the possibilities and capabilities National. link

MilitiaMan » May 7th, 2018

The above is now adopted into an activation state of being imo..

The top article tells it plain and simple the system has been tested and here we see that have overcome many challenges along the way as we also read they talk about 2014 and 2017 issues today.

I notice both articles are talking about National and use the word State.. Think about it they are the same thing effectively.. The State. The Nation. They are imo just using them as they see fit but, are saying to us they are in fact activating the MR of the IQD.

The are depending on the Dinar, they are telling us they are ceasing Multi Currency Practices, as they have the rate in a very tight non profitable manner. They even mention the Dollar and Euro as an example and then go so far as to tell you straight up that the value of the Dollar is lower than the value of the Dinar.

They tell us they fall within the Frame Work of National Public requirements foe domestic payments. Back to the top article. Electronically.. In other words as in a key stroke to implement. That fast.... imo ~ MM

Here comes the good part.

Below it sure sounds like they are specifically telling everyone that the reason for the issues in the past are no longer.

They reduced the parallel between the market rate and the official rate, I read Article 8 Compliance to the obligations set forth in it. They are introducing technologies that include ATMs!

We are told they are bringing in NEW Currency. E-Dinar is not going to be at a program rate. E- Dinar equates to LDs with that technology in place as noted below and above. imo ! These articles are telling the world as to what is before us presently.

Don't forget the AMF is a part of that INCLUSION!!

Imo All are ready to be activated, as they are syncronized now, imo.

So, we wait for them to go to the last part and apparently they just set the Stage for the 2nd article we wait for that includes the descriptions of the new currency to the citizens and when publicly.

Now also don't forget that they have already passed the implementation phase noted in FA #83. Go back up to the top and note the word completion.

IMO that is the final step, as we watch that phase complete and very possibly per their words "IN THE COMING DAYS" ! . imo~ MM .

"The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately—when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged.

Then, decisions (date) on the announcement of and publicity for the currency exchange must be made. Other essential decisions include the conversion rate and how financial assets, resident/nonresident accounts, and existing currency contracts will be treated in the currency exchange." They may include " In parallel, new coins were issued in the following denominations: 1, 2, 5, 10, 20, and 50."

Final Article 81 - 82

Monetary stability and financial inclusion

Author: Mohamed Sherif Abu Maysam

07/5/2018 12:00 AM

With the start of the Financial Inclusion Week, in conjunction with the Arab Week of Financial Inclusiveness, the importance of working on monetary stability as an attractive factor for the monetary bloc in the banking arena is important for the other axes of the financial inclusion program .

As the case of price fluctuations in the parallel exchange market is a factor of expulsion added to other factors contributed to and contribute to the imbalances experienced by the banking system in the country, which stands in the forefront of the lack of confidence inherited between the banking sector and the public, along with the routine pattern inherited in the mechanisms of work and increased loopholes In the series of service sale processors, as well as to the rights of the customer violations resulting from the continuation of the work patterns bureaucratic handling in public banks.

It seems that the introduction of the vocabulary of the national financial coverage program has been limited to intensifying efforts in the areas of introduction of technologies and means of electronic payment and delivery of electronic exchange units to the farthest point in the countryside and the city alongside the axis of public protection and the establishment of a culture of dealing with the public within the financial institutions, Devoting the axes of the banking culture, which is at the forefront of saving culture.

But the state of monetary stability is an important factor to instill public confidence in the national currency and a state of optimism about the decline of the role of the parallel market to the exchange market and official transactions, which will contribute to ensure the stability of the public opinion about the vulnerability of the national currency to declines that could damage the value of their savings in the banking sector.

Thus, with the activation of the role of the work axes of the National Financial Inclusion Program, in which the introduction of technologies through ATM units, the dissemination of banking awareness and the protection of the public, will play a major role in the withdrawal of the condensed cash mass, Rliun dinars of the total mass of cash issued by the Central Bank, amounting to about forty trillion dinars.

With the decline of the dollar exchange rate during the past weeks to rates reached about 1190 dinars to the dollar, despite the attempts of speculators to keep the rate of 1200 dinars per dollar and promote the possibility of rising prices, but the constant stability of the exchange rate close to the exchange rate of sale at the central bank auction and 1189 dinars per dollar, pointing to what looms in the horizon of the features of real monetary stability, which will be revealed in the coming days."

Frank26 » May 7th, 2018

(Big Grin)

ChrisC » May 7th, 2018

Article: “Local produce and foreign exchange rates” (See article above)

I am looking at this article and I CANNOT believe everyone is not going BERSERK over this. Am I missing something? Does this not say the value of the dollar is lower than the Dinar? I am really tired, but I don't think I am that tired. Frank, why are you not posting this with one inch letters? Great job Don!!

Frank26 » May 7th, 2018

I AM STUNNED AT THE DIS-INTEREST IN THESE ARTICLES.

PigsFly2 » May 7th, 2018

Frank - with all due respect, I don’t think that it’s a lack of interest but rather the fact that these articles are indeed so STUNNING that it ...leaves...many...speechless.

SunnyDay » May 7th, 2018

Completion, Deployment, Activation Definitely words we want to hear!!

S41755a » May 7th, 2018

just watched a message on CNN about Iraq & how things are being rebuilt & since isis is contained they are starting to thrive under Abadi's administration. They said only 5% of the pop. trusted Maliki when he was in power but trust Abadi 70%! Can't wait till tomorrow night for the cc with Frankie!

Don961 » May 7th, 2018

Article: "Monetary stability and financial inclusion"

Author: Mohamed Sherif Abu Maysam

07/5/2018 12:00 AM

“ which will be revealed in the coming day” link

Iobey777 » May 7th, 2018

In the coming day? Doesn't that mean like..tomorrow? Well,,come on then!!! Show us the rate and whatever else we need to see! turn on those ATM's and let 'em roll!!

Don961 » May 7th, 2018

it's actually coming days ... but tomorrow is a coming day as well isn't it ... (wink)

DELTA » May 7th, 2018

I DID READ IT IN ARABIC THE LAST PART IS SAYING THAT THE REAL VALUE WILL BE REVEALED IN THE COMING DAYS...

IObey777 » May 7th, 2018

Thanks Delta!! Ok, ok! So it says "days"...didn't an article yesterday say we would see "something" this coming Wednesday? I'm good with that!! (Big Grin)