Iraq Dinar News-Non Oil Revenues-Digital Currency (Uncut) 03-22-2025

MM&C-Iraq Dinar News-Salaries mid Next Week-Non Oil Revenues-Digital Currency-Central Bank of Iraq

Hey everyone before I get started I just want to remind you that if you like my content hit that like button subscribe to my channel and then join the militiamen and crew patreon community by clicking the link in the caption Hey, good evening everybody it is Friday evening and I think today’s the 21st and I just want to say Everything’s looking really good I’m gonna start off though tonight with the Kurdistan region employees Salaries for March will be distributed mid next week and their definition is going to be is always interesting, but This was with the Federal Ministry of Finance.

So this is the government. It says that the Employees in the Kurdistan region for the current month of March will Be in the middle of next week It says that the employees of accounting department at the Ministry of Finance are continuing their official work It’s scheduled despite the holiday in order to audit The payrolls for the region’s employees for the current month In preparation for completing the financing procedures So she says so I believe that they’re talking about the federal ministry.

So that would be tape Sammy She has the legal authority to be talking All right the ministry will complete the funding salaries of the remaining governance by the end of next Monday and Will begin funding the salaries of the region’s employees the following day Unless there’s an emergency or there is no discrepancy in the lists So she is focusing in on the discrepancies of the of the lists that they’ve been provided over over time So we shall see what happens if this Holds true and why is it taken so long? Well, I think we all believe that it has to do with the exchange rate But anyway, we’re going to move into another one. That’s a Good one and when he’s taking the stage as you guys can see so this this article is about the Prime Minister Advisor it says that the electronic tax collection will achieve greater growth and non oil revenues This year and so it’s basically what we’re talking about. Here is electronic tax Taxation and that would be the new system.

That would be a digital format. So Keep that in mind. It says that although digital collection began last year So they’ve already been working on it and it’s been in a gradual and effective manner And they’re saying it’s achieving a leap in these collections.

They exceeded over six trillion dinars and in the aforementioned year, of course 2024 But it says this is an indicator that reinforces the phenomenon of maximizing the growth of cash flow Through digital systems to support the unified Treasury account that we’ve all known about for quite some time within okay, they’re talking about you not unified Treasury account within a high-level and quality digital network connection and in the interest of consolidating general budget revenues Which is something we expect to take even a broader growth level in collecting non oil revenues in this current year,

so They’re going on saying these positive indicators and electronic collections will occupy a comprehensive space in this fiscal year reflecting the development of state revenues as a result of an accelerated transition to use the electronic systems It goes on and says They represent an optimal application of the government program in one aspect of e-governance Namely the public finance aspect which is publicly you know public public data you guys which is strongly moving towards the use of modern information and communications technology systems to achieve the country’s financial policy objectives and Accurately and sustainably collecting non oil resources You guys realize that that’s going to be in a blockchain environment, and it’s also when they start talking about Electronic taxes what work? What are we talking about?

We’re talking about the asset cut of system. You remember the UNC TAD Okay, that’s Who we’re talking about? Okay Anyway Some of the things that I was thinking about was the non oil revenues are going to be a big influence in Iraq’s financial Future, I think you guys can all see that It’s things are going to be changing in it, and they say it’s in an accelerated manner It says the more the more they increase will be affecting her credit rating the more they increase the non oil revenues Would be effectively creating an environment so that their credit rating would probably go up because of the nature of that

There have less risk less risk comes from the fact that they have been a They call an oil rent or rent to your country, and they’re not going to be doing that anymore now they’re accelerating the non oil revenues because if if in fact that there is a Drop in oil prices which could be expected in the future they’re going to be able to cover that because these taxes are going to probably be equivalent to or even superior to that of the Oil revenues holy But when you add in the non oil revenues that are about to come in and you saw the port of fog is going Going crazy. They got ships coming in they have a I think it was a really Supertape a really big big ship that came in from South Korea, so they made a big deal about that So here’s another article about the Ministry of Finance it’s she stresses the importance of modernizing debt management in financial analysis at the Advisory group meeting in Geneva so again when they’re talking about debt They’re going to be talking about risk because that’s really going to be an important component of everything It says according to the statement the session that she was at which was with the data management financial services program Which is DMF ad?

for that period of 2020 to 2024 they talked about and then they discussed strategic plans for the period from 2025 so now through 2028 Which foot which is going to be a focus on to a continuous development and update approved mechanisms The meeting also discussed the sessions that brought together current potential users Meaning other people may be in the region providing an opportunity to exchange experiences and opinions to enhance the quality of services provided So ultimately within the framework.

What are they doing? They’re enhancing international cooperation and That is just exactly what we would expect at this stage because they’ve been working on this for so many years It’s a big deal It says they upgraded the DMA D a and FAD system where the United Nations Conference on trade and development which was United what I just mentioned was the UNCT ad which again offset or is the ice cutter system They affirm that the continued support of the Ministry of Finance and and the public debt department All of this is basically about a new system a new electronic digital system That will contribute to enhancing their debt management efficiency and achieving greater financial transparency Ultimately, what’s it going to do? It’s going to just achieve a higher financial efficiency.

It’s going to enhance the Economic stability of the country. It’ll build greater confidence in their national financial system So it’s clear that Iraq is on track Talking about public debt is going to be monitored accordingly It’s obviously a very large component of You know within regard to international trade the newest kind of system to me is going to be a part of the Design that the UNCT ad has put together There’s a little snippet in patreon.com forward slash mm and crew you guys can check out but it does talk about reiterate that the snippet mentions that the Automated system for customs data Which means ice cutter is a computerized system designed by the United Nations Conference on Trade and Development Exactly what I said.

So ultimately this is ongoing. It has been ongoing since 2004 and there’s already 50 operational projects with expenditures exceeding about seven million dollars It’s basically over 80 countries and they have about four Regional projects regional if they’re talking about Iraq, I’m assuming that they’re talking about Close partners trading partners, so Here’s one from the central bank governor It says we’re working to establish a data center that will serve as a foundation for digital transformation Interestingly enough you may They’re saying they’re willing or they’re going to establish one I wouldn’t be surprised if they already did because look this is this has been ongoing This platform and this testing we all remember the Buna platform with from the Arab monetary fund So keep that in mind because that’s been tested before with the dinar in my view Okay. All right.

So the governor of the central bank confirmed on Thursday, which was yesterday That the digital currency that the bank intends to launch enhances transparency and reduces leakage of cash out of banks while revealing the trend to establish a data center that represents a success base for digital transformation a Success base that’s going to be the central bank the new one in my view Alalakh told the news outlets that Financial technologies are developing very quickly in line with the requirements of the financial and banking sector in terms of speed accuracy economic efficiency in addition to transparency

They have control and the reality of digital revolution that imposes itself in all sectors Including the financial banking sector, which is the most beneficial of the major transformations that are taking place I think that’s a powerful paragraph you guys I Mean they’re basically saying it’s it’s the most major Transformation that’s taking place and that’s their banking and financial sector It sure seems like it. He goes on and he adds that digital currency can serve many purposes reduce the leakage of cash out of banks achieve a degree of Transparency as funds can be tracked whether in the fields of consumption Investment saving or even in Legitimate and illegal actions. So those guys doing the illegal stuff better be careful It also provides important databases for analysis purposes not only for the movement of paper money, but in addition to the digital currencies economics of printing and tracking which so he goes on and stresses that We have started taking steps in coordination with international organizations to see the initial Experiences in the digital currency files.

We did not want to delay So they’ve been all over this and they did not want to delay it and they’re just heading forward So he says that explain there are existing experiences in some countries of the region and I would believe that would be the Buna Platform we are following up with the Arab Monetary Fund. Well, there you go to develop the appropriate steps in this direction and what it requires is Infrastructure and I would assume that that central bank that new one that they’re building has that has that infrastructure in place already and I’m just like they’ve said earlier on that they’re going they’re going to be Building it out over time as well. Yeah, so it says that the central bank has advanced infrastructure as the bank’s new building contains and Advanced data centers, so there it is right there They already have it set up It sounds like and we are also working to establish and I guess in another data center that represents a success base for digital Transformation, so they’re not just talking about one, but they’re talking about more so Not not to be surprising

Okay, so the central bank basically it confirms that they have they’re ready to launch a digital currency Then do central bank in my view has that infrastructure in place at the bank and it sounds like the successes That are already in place allows them the ability to say things like we’re ready to launch digital currency and that’s the dinar and Some of these articles will tell you about the AMF and what they do talk about is that the Durham for instance? I think that’s the Jordanian and the digital dollar Have already been tested and they’ve been tested through the Buddha platform So hey, it’s it’s a big deal And here again today, for instance, there’s a reiteration of this of what I just talked about that was yesterday Now this is today So there’s a German report out that it says Iraq is moving towards issuing a digital currency to eliminate US control over the central bank So this report by this German website Reveals on Tuesday That Iraq has begun abandoning the US dollars.

This just came out today, but they said it was Tuesday It says in efforts to launch the digital Iraqi dinar and end the parallel market we came we covered that Like we said, I think a couple of years ago When they changed the value of their currency and they go to an electronic system, which they’re doing clearly they’re going digital Those that are in that market are gonna have a problem and I think that’s why you see a lot of a lot of people. It’s a lot of media agencies Screaming about it pretty heavy Okay, the reports that is out states that the digital dinar will be an electronic currency issued by the Central Bank of Iraq as An official part of the country’s monetary system. It will have this is the good part I like the way he puts it.

It will have the same value as traditional currencies I’ll say it again. It will have the same value as traditional currencies, but will be traded electronically via digital wallets or approved financial applications This will contribute to liberating the country from the US control over the Central Bank of Iraq Which has controlled it since the US invasion back in? 2003 It says that the Allah lock basically is stating that the financial banking system will witness fundamental transformations Including the decline of paper currencies and their replacement with digital payments from central banks He adds that the central bank is moving towards issuing its own digital currency to gradually replace currencies as is happening with central banks around the world It says it goes on and says that

The Prime Minister’s advisor banking affairs deputy governor of the Central Bank Mohammed Mustafa States that the digital dinar represents a global trend in developing payment systems particularly identifying Monetary units that carry digital rights with the same legal force as legal tender Issued by the monetary authority that is powerful everyone It’s really it’s really good for all this information to come out about digital currency and the power that it has Because it’s going to be legally Acceptable it’s going to have the legal tender. It’s going to be legal enforced Okay, legally enforced as a monetary unit.

So Anyway regarding the exchange rate. It says the official official exchange rate will become The prevailing and sole one as will the digital exchange rate adopted by monetary policy So he’s talking about the official exchange rate. He’s not necessarily talking about 1310 He says the official exchange rate will become so that sounds to be like it’ll be something different and it’ll be a sole one on its own Okay, it says predicting the demise of the parallel market in its current form Due to the difficulty of establishing a secondary digital market operating outside the control of the digital monetary authority This gentleman by the name of Hashimi.

He’s an expert He says fundamental differences between digital currencies and crypto currencies Saying digital currencies are issued and regulated by the central banks such as the digital dollar and the digital dirham While crypto currencies such as this Bitcoin are not subject to any official authority That may very well be not true anymore, but we’ll see and their vote their value depends on supply Demand making it highly volatile. That’s we’re talking about Bitcoin. So the central bank will fully support the digital dinar and the She’s she’s going over crazy guys.

She’s just really excited. That’s what kitties do A Central bank will fully support the digital dinar with the relatively stable value similar to paper currency However, it will be traded electronically only through bank accounts and wallets Helping reduce the use of paper money and achieve financial inclusion My view is on this whole thing is that it will have the same value as traditional currencies 1310 is not a traditional currency What Iraq used to be is in a previous area era Sorry era from the old glory days. That was a traditional value.

So is it going to be something like that? I’m gonna think so, but we’re gonna have to wait and see but obviously they’re getting ready to show and launch a digital dinar In the country of Iraq and for all of you that have been paying attention For so long and over the last couple of years can see the obvious Impact of what’s happening How how much how far Iraq has come in all in all this time? It hasn’t been it’s actually only been a couple years but in the complex nature like this is to be expected that It’s going to come to an end at one point and that’s the that’s the fascinating part The the words coming from Malalok and his advisors and others for instance, Germany They’re even reporting on it is It’s a big deal. They have some big banks over in Germany. They have some big banks around the world there.