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Showing results for tags 'economic reform.'.
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HUGE: Iraq Economic Reform Has Begun. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: CBI: The Launch of E-Cards (Cashless) For Small Businesses. ARTICLE: Iraq Launches Electronic Cards For Small Merchants To Confront The Dollar Crisis. Tuesday, the Iraqi government issued a new mechanism for issuing electronic cards to small merchants, based on the directives of PM Muhammad al-Sudani. This mechanism aims to reduce the demand for cash Dollars by real traders & enhance the role of banks in financial transactions. The new issuance mechanism includes the following: -Payment companies submit a request to the Central Bank to obtain approval to create this product & launch the (merchant) card. -Determining the uses of cards for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023. The ceiling for these cards shall not exceed (100) thousand dollars per month), with the possibility of raising the ceiling in the future in light of the results of the actual implementation. The cards are used for the purposes of purchasing goods & services from known suppliers under pre-defined whitelists. The company bears its duty to apply due diligence & in accordance with basic requirements, the most important of which are the main international ban lists of the United Nations, the Office of Foreign Assets Control & the European Union. Small merchants' money is deposited in various Iraqi bank branches in Dinars. Experts believe that this new mechanism will contribute to achieving the desired goals, through: Facilitating the external transfer process for small merchants, which will reduce the demand for cash Dollars. Strengthening the role of banks in financial transactions, thus reducing black market exchange operations. Monitoring external transfer operations, which will help in the fight against terrorism & corruption. This step comes within the framework of the efforts made by the Iraqi government to address the Dollar crisis in the country. Issuing Electronic Cards To Small Merchants With A Ceiling Of $100,000 Per Month January 23 13:15 Information/Baghdad.. Today, Tuesday, a government source revealed the issuance of electronic cards to small merchants, while specifying their conditions. The source said in a statement to the official agency, followed by “Al-Ma’louma”: “Based on the directives of the Prime Minister & in light of the discussions that took place between the government, the CBI & electronic payment companies for more than two months, a mechanism for issuing electronic cards to small merchants was approved, with a ceiling of 100 thousand & Dollars.”“.” He added, Monthly to implement payment operations for import purposes in order to reduce the demand for cash Dollars by real merchants. "The new mechanism includes: 1- Payment companies submit a request to the Central Bank to obtain approval to create this product & launch the (merchant) card. 2- Determine the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, provided that: The ceiling of these cards shall not exceed (100) thousand dollars per month), with the possibility of raising the ceiling in the future in light of the results of the actual application. 3- The cards are used for the purposes of purchasing goods & services from known suppliers according to pre-determined white lists. 4- The company bears its duty to apply diligence Due & in accordance with basic requirements, the most important of which are the main international embargo lists of the United Nations, the Office of Foreign Assets Control & the European Union. 5- Small merchants’ funds are deposited in the branches of various Iraqi banks in Iraqi Dinars.
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Here's some articles of Dinarian interests... The Iraq Private Sector is up & running. Treat as rumors. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Al-Sudani: Tax Reform Represents An Important Message To Local & Foreign Investors About The Government’s Seriousness In Restoring The Business Environment. ARTICLE: Under the patronage of Prime Minister Muhammad Shiaa Al-Sudani, the conference on reforming the tax system in Iraq began this Wednesday morning. In his speech, Al-Sudani welcomed those responsible for preparing this important & qualitative conference devoted to tax reform. He also praised the research papers presented by the relevant officials, businessmen & international organizations, stressing that economic reform, which was identified as a basic priority in the government programme, was not a slogan, but rather a slogan. An interim goal that came from a realistic reading & inevitable result of the problems & challenges facing Iraqi society, most of which have economic roots. Tlm724 Administrator Bondlady’s Corner: Iraq & Saudi Arabia Sign A Partnership Agreement In The Field Of Industrial Investments For The Private Sector. ARTICLE: Iraq and Saudi Arabia signed, today, Wednesday, a partnership agreement in the field of industrial investments for the private sector. The official agency stated: “The head of the Iraq Fund for Development signed today the partnership agreement between Iraq and Saudi Arabia in the field of industrial investments for the Iraqi and Saudi private sectors.” The agreement signed between the Iraqi & Saudi sides in the field of industrial investments for the private sector is considered an important partnership & a stimulating initiative that will raise the level of services in the Iraqi market. The Director Commissioner of the Iraqi Diar Company, Salman Dawoud Salman, said, “Under the sponsorship of the Iraqi Fund for Development, the Iraqi & Saudi sides participated in the private sector for the first time.” He explained, “Al-Diyar Company acquired 49 percent of the investments of the Saudi Northern Factory in Iraq,” noting that “the company is considered one of the important companies in the industrial field.”
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Luigi found this article of Dinarian interests... Iraq Finance Minister enters final phase economic reform. Treat as a rumor. Not verified. Your opine. Clare: Finance holds a consultative meeting to implement two systems…and reveal their benefits. The Ministry of Finance held, today, Saturday, a consultative meeting on the application of the integrated financial management systems & the unified treasury account. And the ministry said in a statement that {Euphrates News} received a copy of it, that “Minister Ali Allawi held a consultative meeting on the requirements for designing & implementing the unified treasury account system 𝗧𝗦𝗔, in the presence of the Undersecretary Taif Sami, the Director General of the Accounting Department & the representative of the General Secretariat of the Council of Ministers, in addition to the stakeholders in the Ministry Finance, the Ministry of Planning, the Central Bank of Iraq, the Financial Supervision Bureau, & the general managers of Rafidain, Rasheed & 𝗧𝗕𝗜 banks, with the participation of the project management team for the modernization of public financial management systems the support team at the World Bank.
