Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    MM&C 2/14/24 Electronic payment... Money is hoarded in homes and education is not at the required

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 281331
    Join date : 2012-12-21
    • Post n°1

    MM&C 2/14/24 Electronic payment... Money is hoarded in homes and education is not at the required Empty MM&C 2/14/24 Electronic payment... Money is hoarded in homes and education is not at the required

    Post by Rocky Wed Feb 14, 2024 7:51 pm

    MM&C 2/14/214 

    [size=36]Electronic payment... Money is hoarded in homes and education is not at the required[/size]



    MANY CHALLENGES (GETTYI)Not long ago, Iraq took the first steps towards attempts to activate the electronic payment system . These steps began by loca... ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  
     






    MM&C 2/14/24 Electronic payment... Money is hoarded in homes and education is not at the required 1
     
    MANY CHALLENGES (GETTYI)
    Not long ago, Iraq took the first steps towards attempts to activate the electronic payment system . These steps began by localizing employee salaries, and then installing electronic payment devices in several places, including gas stations. However, many experts and specialists still see... The culture of electronic payment is not at the required level, for many reasons, including those related to economic and electronic culture, in addition to the widespread corruption in the country, which hinders its full implementation.
    Economic experts believed that education for electronic payment in Iraq is not yet at the required levelAccording to experts , the Iraqi government, through attempts to implement electronic payment, aims to withdraw the monetary mass circulating in Iraq, which amounts to 84 trillion dinars.
    The economic expert, Nasser Al-Kanani, believes that implementing the electronic payment system in all governmental and non-governmental sectors is difficult to achieve in Iraq, due to the lack of electronic culture among citizens of all segments, indicating that “cash payment cannot be stopped and will remain partially due to its necessity.” Al-Kinani told Ultra Iraq, “Money is naturally stored among citizens and the possibility of withdrawing it and making it electronic in digital payment cards cannot happen without planning and persuasion.”
    According to Al-Kanani, “""the best way for electronic payment to be successful is for the Central Bank to carry out the process of ""deleting 3 zeros from the currency"", printing new currencies, and ""announcing a period of one month for citizens to exchange all their money with a new edition""", which will give an impression of the """strength of the dinar against the dollar and the rest of the currencies.”"" . When this step is achieved, the government - speaking to Al-Kanani - “will replace 10% of the money and deliver it to citizens, while the remainder is placed in a bank account that is opened for every citizen, depositing his money and giving him an electronic card to withdraw from it,” stressing that “this step will eliminate... Cash circulation, corruption and hoarding operations, as well as currency smuggling in one way or another.”
    Al-Kanani said, “Education for electronic payment is not at the required level now, and its application in gas stations and determining the period of total commitment to it are considered impossible to achieve because the problems that occur with this process now, with the failure of payment devices to the exclusion of others in the rest of the economic interests, raise many question marks about the seriousness of the limit.” Whoever deducts more than the price.”Al-Kanani also believed that “the government’s step now to talk about electronic payment and oblige citizens is a step towards a thousand miles in this project compared to successful experiences in many countries such as the United States of America, represented by the Federal Bank, whose electronic card is used everywhere, in addition to the Lebanese Byblos Bank and its card, which is used as an example.” In Baghdad, this is what spreads a global culture in these countries, unlike the poor culture of these dealings in Iraq, because the citizen lost confidence in the state after 2003 due to impromptu political decisions and the absence of real planning.”
    An economist said that cash payment cannot be stopped and will remain partly due to its necessity. Despite what the expert said about the “difficulty” in implementing the electronic payment system, the World Bank, on February 7, claimed that the infrastructure for electronic payment systems in Iraq is “among the best in the region,” according to a statement issued by the Central Bank of Iraq . On the sidelines of Sudanese’s participation in the Davos Economic Forum, last January, a government statement said that the World Bank supports measures to develop the banking sector, especially the electronic defense system, which attempts are being made to adopt in Iraq.
    The World Bank says that electronic payment systems in Iraq are among the best in the region. On January 17, 2023, the Iraqi Council of Ministers approved the recommendation of the Council of Ministers for the Economy to activate the electronic payment service, as the decision stated that “the system enjoys a high level of protection and security, reduces time and effort, and contributes to stimulating the movement of the economy.” The previous government decision obligated the Central Bank to "facilitate the procedures for granting licenses to collect bank cards and exempt all electronic payment (POS) transactions from taxes." The researcher in economic affairs, Ali Daadoush, identifies the most important points through which the implementation of electronic payment systems in Iraq can be successful.
    In an interview with “Ultra Iraq,” Daadoush said, “The electronic payment application requires a culture, publishing extensive and simplistic advertisements for the citizen, and taking into account the experiences of countries in which electronic payment systems have succeeded and gradually transformed into a cashless society, such as Sweden, for example.”
    Experts talk about one of the reasons for moving away from the electronic payment system, which is the citizen’s loss of confidence in the state after 2003 Daadoush called for “the necessity of emphasizing transparency in publishing sufficient information that allows the ordinary citizen to know what he has and what he owes, such as the amount of each company’s commission, how to issue a payment card, how much is its ceiling, and others,” saying that “these steps will facilitate the procedures for dealing with electronic payment systems in the country.” "The country."
    -------------------------------------------------------------------------------------------------------------
    Here is what appears to be an off the charts good article from an economic expert giving his opinion on the deletion of the zeros project, as being a way to create strength in the dinar against global currencies including the US dollar. 
    The plan is effecitvely explained by the expert. I would suggest this may be a leak today for things to come. How would this guy know all of this? Is it because the 1000 steps has one step left, the change of the dinar currency to the dollar to a previous status (era)?IT sure is looking that wa. 
    There is to be a push to get the 84 trillion dinar into the banks that is outside of the system.  The citizens will be able to get 10% and the rest will go into their bank accounts electronically. It looks like this is the way they are pushing for the cards to be used to absorb the hoarded money and t is a very large reason to say the least. The delete the zeros project is going to be so very good to the citizens. The corruption is about to go away in so many ways. They are to have once the change in rate, there will be about 30 days for the citizens to make their exchange. The banks are going to be busy. ioo
    This article heads up coming from outside the country is likely viewed as an opinion piece but, as we know he has a past in the Iraqi Foreign Affiars Office and also the Central Bank Governor, Al Mohsen Al-Alaq has stated that the deletion of the zero's project still exists. This expert was around long enough to understand what is needed to be done.  The Prime Minister Al-Sudani told the citizens more than once, that the dinar is stronger than the dollar. It all is coming into play now. All is adding up nicely.
    To note: The summary audio from an Iraqi / UK citizen who reads and speaks the most spoken Iraqi Arabic Language is moved by the expert address today and believes the expert has the knwoledge qualifications to what he speaks about above.  Take note that his translation is different than the above text to a degree, not surprising, as the Arabic to English is very difficult, even for those with both back grounds. 
    Please enjoy the audio and there will be a brief follow up with Militia Man, PompeyPeter and Petra  to follow. All is good.. ioo ~ MM
    ----------------------------------------------------------------------------------------------------------

    An economic expert reveals a new desire by the Central Bank to reduce the dollar... but on one condition

    • Time: 02/13/2024 23:43:20
       


    MM&C 2/14/24 Electronic payment... Money is hoarded in homes and education is not at the required 1
     

    {Economic: Al-News} The economic expert, Safwan Qusay, revealed a new desire by the Central Bank of Iraq to reduce the dollar after zeroing out internal debts.
    Qusay said: For the {Free Speech} program broadcast by Al-News satellite channel this evening, it said: “The budget making process is still based on items and does not depend on clear scientific foundations in the estimation process, and the actual spending in the 2022 budget is currently being repeated with the addition of a certain percentage. There are tensions that may be Among decision makers regarding the process of increasing the share of a particular ministry at the expense of another ministry or introducing appointments.”
    He added, "The program of the government of Muhammad Shiaa Al-Sudani came with a set of goals and was achieved through financial funding and funding sources from the Ministry of Finance, which pledged to prepare a program budget according to priorities."
    Qusay pointed out, “Until now, the governmental or unified system is unable to calculate the costs of programs, and in order to isolate the process of tensions from making the number, which is subject to environmental variables, some of which are local and some are international, and therefore it is necessary to reconsider some sections in a way that is consistent with the priorities.
    The process of re-estimating according to science is based on Basis for programs and standards. When the Ministry of Finance presents estimates, it must discuss the scientific basis regarding the cost of each program.
    He continued, "The Sudanese government is proceeding to amend the terms, and the Council of Ministers has added new financial allocations to some projects. The current problem is not in oil prices, but in quantities. Iraq has pledged to reduce exports, and this reduces financial revenues, as well as the problem of the cessation of Ceyhan oil," referring to "diverting oil exports from Kirkuk." And the region to southern oil causes Iraq to lose about $3 per barrel.”
    Qusay confirmed, “The fluctuation in financing is what prompted the government to approve a tripartite budget, and in the event of an increase in oil prices, 30% goes to the governorates and 70% goes to fill the deficit, and the final account shows this issue, and the World Bank indicated that the percentage of appointments in Iraq has increased to more than 4 million.” employee".
    He acknowledged, "The presence of safety buffers away from oil means, at the level of the Central Bank's reserves, collecting revenues from the Ministry of Electricity and other ministries increases financial resources; but non-oil imports are ineffective, some of which go into the pockets of the poor, and in practice we have to track the movement of goods and impose control."
    He noted, """The Central Bank of Iraq's desire to return the dollar to its previous status"", but not before the internal debts are zeroed out. Finance has alternatives to settle these debts, including transferring some state shares, and the Rafidain Bank can also fulfill the Central Bank's dues."
    Qusay concluded with """real support for the 'dinar' in the diversification of economic resources""", and Iraq ""can cover its financial needs without the need for hard currency"". Iraqi banks that are currently restricted are thinking about offering a variety of products in the local environment, and I believe that they will achieve higher profits than they acquired from the dollar."
    ----------------------------------------------------------------------------------------------
    Snippet:
    Nasser Kanaani (Persian: ناصر کنعانی) is an Iranian diplomat and the 13th spokesman of the Ministry of Foreign Affairs of Iran since June 27, 2022.[1][2] He was also the head of Iran's interests protection office in Cairo from July 2018 to July 2022. Nasser Kanaani previously held positions such as the ""head of the Iraqi staff of the Ministry of Foreign Affairs"", the deputy director of the Arab Middle East and North Africa Department and the Iranian embassy in Jordan. Besides his native Persian, he is fluent in English and Arabic.[3][4][5]
    • Back to top
      Current date/time is Wed Nov 27, 2024 5:58 am