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Don961: "I-Dinar" .. the first electronic platform for the Islamic exchange of digital currency
- 3 Hours Ago
On the sidelines of the 5th International Islamic Finance Conference, the first Islamic platform for the exchange of gold-backed digital currency, I-DINAR, was launched in Doha today.
The I-Din platform is an electronic symbol based on the exchange of digital currency. Its initial value of one dinar is supported against one gram of gold,
Source: Al Jazeera link
PastorR: In article 100 it states one I dinar is valued at one gram of gold. It takes 28.35 grams to equal an ounce. Let's say an ounce of gold is 1300.00. Divide 1300 by 28.35 you get 45.85 per gram. So each dinar according to this article is worth 45.85? I'm sure I'm missing something but nonetheless great news about gold backed, Idinar, etc. thanks to Frank, Walkingstick, Don, Sampson, JJ, MM and all teams. Exciting times for sure. Praise the Lord.
Fuze: note, it did not say it's equal to 1 gram of gold; it says "supported by" 1 gram....interesting.
WaitingGame: True. Doesn't have to be 100% backed in fact my understanding is that BASEL III is 6%. So, 6% of $45= ~2.7... not offering a date or rate just some math that shows BASEL III standards could facilitate rates from previous years - it just depends how they do the math.
ChrisC: while I admit that it does seem a little heavy to be 42 bucks, it is strange that they define an exact amount of gold. Why not just say "gold backed"? The definition of a precise amount is interesting. Maybe an e-dinar is going to be more valuable than a paper dinar or MAYBE we are going to hit some kind of a smashing Babe Ruth style homerun.
Goldenboy: This is looking more like what we would see when all currencies go gold backed on March 29th!
Don961: Parliamentary move to raise the price of the dinar and maintain the stability of inflation link
MilitiaMan: "the change will raise the exchange rate of the Iraqi dinar against foreign currencies"
The wording "the change will" means it is going to happen! They are moving on it now, imo, effectively. Tonight is a full moon, Noruz begin in hours, they extended the holiday and in some cases moved it up to today. I am expecting article 2 explaining the NSCNs.. EXCITING TIMES FOLKS~~ THANKS TO ALL TEAMS!!!
Iggy: This year's vernal equinox has something special: The last supermoon of 2019. It's called the Full Worm Moon, and it will rise on the same day as the equinox.
Spring equinox 2019: Ancient traditions echo in our modern world
MilitiaMan: The convergence is phenomenal. imo !
2Cents: Just to let all know, I believe the Discussions on the Financial Management law were completed in Parliament Tuesday 3/12......IMO, this is queued up and ready to go
Don961: This article headline , with other prominent news , is now scrolling across the opening page of what has been referred to as the official newspaper/agency of the GOI ...
Parliamentary move to raise the price of the dinar and maintain the stability of inflation link
article : link
Samson: Pompeo's policy urges Iraq to develop its relationship with Kuwait
20th March, 2019
US Secretary of State Mike Pompeo on Wednesday urged Iraq to develop its relationship with Kuwait
"We encourage the government of Iraq to strengthen its relations with Kuwait," Pompeo told a news conference with his Kuwaiti counterpart Sabah Khalid al-Hamad al-Sabah
"There is no change in US policy toward the Middle East peace process," he said LINK
Samson: Next month .. Abdul-Mahdi begins a regional tour involving 5 countries
Political | 06:10 - 20/03/2019
BAGHDAD (Reuters) -
Prime Minister Adel Abdul Mahdi will inaugurate his foreign tour next month with a regional tour that will include five countries, the Lebanese newspaper Al-Akhbar reported on Wednesday.
"Prime Minister Adel Abdul Mahdi will start a tour next month, including Iran, Jordan, Saudi Arabia, Egypt and Turkey," the newspaper said in a report, read by Mawazine News.
The report added that "Abdul Mahdi will seek during his upcoming tour to achieve balance in Baghdad's regional and international relations," noting that "this balance will not prevent Baghdad from going far in establishing special relations with Damascus, on the basis of the unity of destiny."
It is noteworthy that Prime Minister Adel Abdul-Mahdi has refrained from any foreign visit since the ratification of the Council of Representatives on his government and gave them confidence in last October, where informed sources earlier, the agreement between Abdul Mahdi, President Barham Saleh, the latter's external visits Until completion of the ministerial cabin and the implementation of the government program and then proceed with regional tours as prime minister link
Popeye7: Certainly would look good to those with whom the Iraqi PM is visiting to have a fully functional dinar within the country Mahdi represents before his tour... Wouldn't you say?
Samson: Oil is rising thanks to supply cuts, but the economic slowdown is hampering it
20th March, 2019
Oil prices rose on Wednesday, supported by OPEC-led supply cuts and US sanctions on Iran and Venezuela, although gains were limited by concerns about economic growth
Brent crude for July delivery was up 13 cents, or 0.2 percent, from the previous close. Brent touched Tuesday its highest level since November 16 at $ 68.20 a barrel
US WTI crude futures were $ 59.07 a barrel, up 4 cents, or 0.1 percent, from the previous settlement price. WTI hit its highest level since November 12 at $ 59.57 a barrel on Tuesday
Oil prices rose about a third this year, driven by an OPEC-led move to cut about 1.2 million bpd of supplies as well as US sanctions on Iran and Venezuela
"The volatile outlook for supplies in view of Venezuela and Iran, as well as production constraints in oil countries, are a priority in the oil market mind," said Norbert Rücker of Swiss bank Julius Baer
Analysts say the economic slowdown could have a negative impact on fuel consumption, which would curb crude somewhat LINK