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Report: The local purchasing power in Baghdad is 9.21% lower than Erbil


yota691
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The 2016 employment rate in Iraq was 43.2%.

 

https://tradingeconomics.com/iraq/employment-rate

 

Here is a recent depiction of the demographics:

 

Age structure:This entry provides the distribution of the population according to age. Information is included by sex and age group as follows: 0-14 years (children), 15-24 years (early working age), 25-54 years (prime working age), 55-64 years (mature working age), 65 years and over (elderly). The age structure of a population affects a nation's key socioeconomic issues. Countries with young populations (high percentage under age 15) need to invest more in schools, while countries with older population . . . moreAge structure field listing
0-14 years: 39.01% (male 8,005,327 /female 7,674,802)
15-24 years: 19.42% (male 3,976,085 /female 3,829,086)
25-54 years: 33.97% (male 6,900,984 /female 6,752,797)
55-64 years: 4.05% (male 788,602 /female 839,291)
65 years and over: 3.55% (male 632,753 /female 794,489) (2018 est.)
 
Here is a summary of the above data:
image.png.46637ac99adf4402579abff6869059a9.png
 
Nominally 39% of the total population is 0-14 years old and would not need a bank account.
Likely, a significant portion of the males and potentially some females 65 years old and older would have bank accounts due to pension distributions via the Smart Card, Ki Card, VISA, MasterCard, or whatever. This is only nominally 3.6% of the Bicraqi Iraqi population.
This leaves a heart cut of nominally 57% of the Bicraqi Iraqi in the available working pool.
Females make up nominally 50% of the available working pool. Potentially, a significant portion of these females would not have a bank account especially in the poorer or tribal areas.
Also, a SUBSTANTIAL portion of the Available Working Bicraqi Iraqi are BELOW the poverty line and live hand to mouth where a bankster account is a HUGE hassle AND WASTE of time. So, cash is King for a SUBSTANTIAL portion of the Bicraqi Iraqi Population NOW.
So, ONLY 20% of the Bicraqi Iraqi population having a Bankster Account is NO Biggie NOW.
A couple things THAT WILL skew the percentage having a Bankster Account BIG TIME ARE:
  • Enactment of the HCL to dump the proceeds universally.
  • Foreign Investment to create jobs for the Bicraqi Iraqis that will encourage or require direct deposit.

If I recall correctly, some number sticks in my head, there IS a target for financial inclusion of 21%. So, being 1% off THIS or, nominally, 5% of the Bicraqi Iraqi population is NO Biggie.

So, the moral of the story here is NOT to get the under garments in a bind since 20% is a PRETTY GOOD number for NOW!!!

The FUTURE increase in the PERCENTAGE of bankster accounts is within an order of magnitude (multiplier of 5 that is less 10) WHEREAS the Ultra Modern Bankster hard ware AND capabilities the Bicraqi Iraqi NOW have is MORE THAN capable of handling the "future" "added" "demand".

In The Mean Time...................................................................................................

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

Edited by Synopsis
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“Revealed the Governor of the Central Bank Ali Alalak, Tuesday, that 80% of citizens do not have bank accounts”.

This means only 20% financial inclusion.

The banking system needs money to conduct business, to loan

to invest.

This is why the CBI is worried about the chunky cash stashed at

home. I believe is 70% of the monetary mass.

I would like to see the CBI strategy to increase financial inclusion and to collect the Chunky Cash

 

Go CBI

Go $1:1

Go Fianacial inclusión 

Go De-dollarization

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33 minutes ago, Floridian said:

Central: 80% of citizens have no accounts

 

After all the "financial inclusion" and banking education, still only 20% have accounts? 

I guess all that education still did not get the money out of the mattresses.

Very disappointing!

I believe is because the Iraqi citizens is in the know that the dinar will rise in value in the near future, like it was before the war and the UN sanctions.

In my ten years on this investment I have seen the dinar rise from 1164, 1170, 

1182, 1190 dinars per dollar.

 

just my opinion.

 

Go RV

Go former glory 

Go asap

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50 minutes ago, Laid Back said:

I believe is because the Iraqi citizens is in the know that the dinar will rise in value in the near future, like it was before the war and the UN sanctions.

In my ten years on this investment I have seen the dinar rise from 1164, 1170, 

1182, 1190 dinars per dollar.

 

just my opinion.

 

Go RV

Go former glory 

Go asap

 

Thanks, Laid Back.

If that's the case, they will NEVER get the money out of the mattresses.

I was under the impression that they can't RV without taking in a lot of the trillions of Dinar in circulation.

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one sure fire way to get the dinar outside the bank in is to put time limits on exchange ... we simply dont know what the plan is  ( I hope someone does ) and if you haven't read how it all actually went down ( currency ) in 2003 - 2004 here it is from the man that headed up getting the new currency to the cbi and the banks throughout iraq .... cheers , we wait

https://www.usip.org/sites/default/files/file/resources/collections/histories/iraq/tant.pdf

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7 minutes ago, Floridian said:

 

Thanks, Laid Back.

If that's the case, they will NEVER get the money out of the mattresses.

I was under the impression that they can't RV without taking in a lot of the trillions of Dinar in circulation.

Me too my friend,

That’s why a said in my first post;

“I would like to see the CBI strategy to increase financial inclusion and collect the chunky cash”

 

Go RV asap 

Edited by Laid Back
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2 hours ago, Laid Back said:

“Revealed the Governor of the Central Bank Ali Alalak, Tuesday, that 80% of citizens do not have bank accounts”.

This means only 20% financial inclusion.

The banking system needs money to conduct business, to loan

to invest.

This is why the CBI is worried about the chunky cash stashed at

home. I believe is 70% of the monetary mass.

I would like to see the CBI strategy to increase financial inclusion and to collect the Chunky Cash

 

Go CBI

Go $1:1

Go Fianacial inclusión 

Go De-dollarization

Agree Laid Back, been ready for the chunky cash. Thank you 🙏

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24 minutes ago, 3n1 said:

one sure fire way to get the dinar outside the bank in is to put time limits on exchange ... we simply dont know what the plan is  ( I hope someone does ) and if you haven't read how it all actually went down ( currency ) in 2003 - 2004 here it is from the man that headed up getting the new currency to the cbi and the banks throughout iraq .... cheers , we wait

https://www.usip.org/sites/default/files/file/resources/collections/histories/iraq/tant.pdf

Thanks boss you have cliff notes 😆😆😆

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2 hours ago, Laid Back said:

I believe is because the Iraqi citizens is in the know that the dinar will rise in value in the near future, like it was before the war and the UN sanctions.

In my ten years on this investment I have seen the dinar rise from 1164, 1170, 

1182, 1190 dinars per dollar.

 

just my opinion.

 

Go RV

Go former glory 

Go asap

That is for sure. They are sitting on this because they do not trust the banks and they know the value is going up. They are waiting it out.

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1 hour ago, wildeman said:

Agree Laid Back, been ready for the chunky cash. Thank you 🙏

Thanks for your input my friend🙏🏼😊

 

13 minutes ago, ChuckFinley said:

That is for sure. They are sitting on this because they do not trust the banks and they know the value is going up. They are waiting it out.

Agree my friend, they are waiting it out like us.⏱💵

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%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8
 

The governor of the Central Bank of Iraq, the agency Ali Aliak, on Tuesday, that 80% of citizens do not have bank accounts.

Alaq said in a press statement that "80% of citizens do not have accounts or dealing or bank cards," noting that "banks can invest and employ this large proportion."

He added that "the services provided by banks are currently on the rise," and called on all banks to "follow the example of the Iraqi Trade Bank, which expands its products and services."

On October 8, 2018, the Iraqi Trade Bank signed a loan with a German institution worth 100 million euros, encouraging German exports to Iraq and benefiting from the facilities provided by the German Foundation for the contracting of public departments, ministries and the private sector.

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The problem of poverty

Wednesday 06 March 2019 76

The problem of poverty

 
Dr.. Bassem Brahimi
 


The World Bank's Global Financial Services Index is the largest database on adult access to financial services, which released its first version in 2011, the second in 2014 and the third in 2017. The latest version has seen a remarkable development in data Financial coverage of Iraq, and the most prominent indicator is to increase the proportion of financial coverage in Iraq to 23% after recording 11% in 2011, and this improvement is due mainly to the project of the settlement of salaries, which the Central Bank worked two years ago.

Another interesting indicator concerns the reasons for not having a bank account in Iraq. The survey indicated that the participants had the option of citing more than one reason. The reasons for their importance by the participants were as follows: While the increase in the costs of opening the account came in second place and accounted for 46%, while 33% pointed out the lack of need to account as a third reason followed by the reason of mistrust banks ranked fourth with 25% of the participants, and finally was the cause of religious barriers or the possession of another person In the family to calculate suck In 10% of the prohibitive reasons to own a bank account.
At first sight, everyone believes that confidence in banks is the main reason, but the survey shows that this is the fifth most important reason, and that poverty is the first reason, and if we know that the second reason for rising costs close to the first, especially that the costs The question will be mainly about poverty as the first reason for the financial deportation of adults in Iraq, which confirms that the survey in another question related to trust in institutions shows that confidence in banks ahead of the count D from other institutions, particularly public institutions, and it did not back down from levels recorded in the previous survey during the 2014 year, despite all the security events caused by the terrorist gangs Daesh, and this confirms that poverty is the problem of problems.
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  • 3 weeks later...

How much money do the Iraqi people have in their homes?

09:34 - 29/03/2019
0
 
  
%D8%B1%D9%88%D8%A7%D8%AA%D8%A87-1-696x38

Information / Private ..

"The Iraqi people have inside the houses an amount of 37 trillion dinars, which is contrary to what is used in the countries of the world, pointing out that Iraq needs three million workers, provided the economy moves in the country."

Al-Masoudi said in a statement to Al-Mawloma that "the problem of Iraq related to the unemployed will end within three months in the event of a database and the identity of a profession for all, where everyone will notice that the unemployed actually do not exceed 350 thousand people, In various fields and businesses, so they are not unemployed. "

"The appointment of everyone within the government sector makes the country free of professions such as iron, paint, mechanic, owner of the oven, cattle and other professions, who may consider themselves unemployed and demand appointment," he said.

"The Iraqi employee works every day for 17 minutes of the total of seven hours, while the employee in the world works five hours and 16 minutes out of a total of seven hours," he said.

"Iraq needs three million workers, provided the economy moves in the country, with the activation of the private sector, tourism and railways, which employs 5 percent of the number required to work in this area," Masoudi said.

He explained that "the problem of Iraq will end with the transfer of funds to Visa Card, where the Iraqi people and houses within 37 trillion dinars, and this amount can be put in banks to develop the country and benefit from it as is the case in various countries of the world."

He pointed out that "Iraq does not suffer from any problem related to money, but the suffering lies in the mismanagement of money, although 85% of the budget is operational, and the investment projects, it will not see the light because Iraq's money distributed like a birthday cake." End 25 n

https://www.almaalomah.com/2019/03/29/396716/

Edited by Butifldrm
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"The Iraqi employee works every day for 17 minutes of the total of seven hours, while the employee in the world works five hours and 16 minutes out of a total of seven hours," he said.

 

He explained that "the problem of Iraq will end with the transfer of funds to Visa Card, where the Iraqi people and houses within 37 trillion dinars, and this amount can be put in banks to develop the country and benefit from it as is the case in various countries of the world."     <---------- Mattress Money

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22 minutes ago, NEPatriotsFan1 said:

There is no way 37 Trillion are in the houses of Iraq! I have 5 Trillion and there is only 40 Trillion total...... I call Bull💩

 

Fuzzy Math ;) 

To whoever is confused by my previous post, it’s a joke ;)  

 

Lighten up, just having fun while sitting around bored with this investment 

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People like to quote they would like to see the dinar return to the value it held before the war. The problem with this is 1) it was artificially set by Sadam, just like it is artificially low on this side of the war; and 2) most experts believe it wasn't worth but half that amount. So the rate, should it return to pre-war numbers, should be around 1.60 usd to 1 dinar. That's like asking if you would tap that if she was only half as pretty as Melania. 

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I don’t believe the Iraqis are holding their money in their houses because they believe it will RV. My buddy held over 300 Million Dinar in his house in Erbil simply because nobody trusts keeping their money in bank accounts there.. (nothing to do with an RV). They only see banks as a building where you perform a transaction.. if it’s exchanging money for USD or making some kind of transaction monetary type change. Here in the US we are brainwashed to direct deposit our hard earned money into a bank account ( giving them a free loan) so they can use our money (usually interest free for the bank to conduct business). So if you look at it that way, who is actually smarter, us or the Iraqis holding on to their hard earned money at home.. lol

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4 hours ago, GregHi said:

I don’t believe the Iraqis are holding their money in their houses because they believe it will RV. My buddy held over 300 Million Dinar in his house in Erbil simply because nobody trusts keeping their money in bank accounts there.. (nothing to do with an RV). They only see banks as a building where you perform a transaction.. if it’s exchanging money for USD or making some kind of transaction monetary type change. Here in the US we are brainwashed to direct deposit our hard earned money into a bank account ( giving them a free loan) so they can use our money (usually interest free for the bank to conduct business). So if you look at it that way, who is actually smarter, us or the Iraqis holding on to their hard earned money at home.. lol

 

man ur friend must be on the wealthy side of life and good for him , i agree the so called rv/ri means little to them a dinar will always be a dinar inside the iraqi borders , they will only notice purchasing power of the iqd then inflation ect, dictates how far the purchasing power takes you imo since they use usd the real economy / inflation control hasn't really gone into effect till its iqd only that's when the real test begins they are still piggy backing the usd for strength ,,  guess im in a sense like the unbanked in iraq , no money to use a bank 🤣

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5 hours ago, 3n1 said:

 

man ur friend must be on the wealthy side of life and good for him , i agree the so called rv/ri means little to them a dinar will always be a dinar inside the iraqi borders , they will only notice purchasing power of the iqd then inflation ect, dictates how far the purchasing power takes you imo since they use usd the real economy / inflation control hasn't really gone into effect till its iqd only that's when the real test begins they are still piggy backing the usd for strength ,,  guess im in a sense like the unbanked in iraq , no money to use a bank 🤣

3n1,

my friend did well. While he was a translator working with the US Army there for several years, he was a US civilian, paid by the DOD 15,000 USD per month.. A great salary even by our standards. He owned a restaurant in Erbil and his house was 5 bedrooms in a gated community in Erbil. (Yes, there are plenty of wealthy Iraqis).. Something I hear people say over and over is how poor Iraqis are and how they have to have this RV to put food on the table, etc.. Not entirely true..  There is no doubt there are homeless and poor people in Iraq, but the poverty rate probably isn’t too much higher than here and the nice areas such as Erbil in the mountains can be packed with wealthy Kurds and Iraqis. Just something to ponder... and here’s an interesting fact.. did you know in Iraq there are no speed limits? (Well this is what I was told about 3 years ago by my buddy).. but it might be fun to take a hot rod over there and see what it could do.. lol

Edited by GregHi
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On 3/29/2019 at 10:18 PM, Botzwana said:

Again...I Will take this oficial article from Iraq saying it Will be over 3 bucks from 2 years ago instead of just guessing what the rate Will be.  NEVER have they come out and said .10 or a Buck etc.  They HAVE said 3 bucks according to this one though.

 

You know Jeff Dunham, a ventriloquist, has a purple puppet he calls Peanut. One of the funniest things about his early on act is when he pulls out Peanut and talks to an audience member. Then as he moves further into his act and onto other stuff, he will occasionally have Peanut swipe his hand over his head in the direction of the audience member. Why does that series of images come to mind when I read your post? Inquiring minds want to know! Swoosh!

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I used to work at a retail store, back in the days of yore, where on third shift we would put heavy, heavy, oh my back hurt so much I never thought wrapping paper could be that heavy, boxes of wrapping paper on the top shelf. During the night a group of us would gather for "lunch". There were four of us guys and a quintessential blonde gal. One night we were telling blonde jokes, as she had started telling them. So I asked her, "Why did the blonde get thrown out of the M&M factory?" She looked blankly at us and asked why. I responded, "she kept throwing the Ws away". Her immediate reply was, as true as I am standing here, "There are no Ws on M&Ms". We all burst out laughing. She couldn't figure out what was so funny. So I went and bought a pack of chocolate M&Ms (without the peanuts), since the store was part grocery store, opened it and took out a green one (green on purpose), and showed her the M on the candy and when turned over looks like a W. She punched hard for a girl! Peanut would swoosh her too.

Edited by Theseus
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6 minutes ago, Theseus said:

I used to work at a retail store, back in the days of yore, where on third shift we would put heavy, heavy, oh my back hurt so much I never thought wrapping paper could be that heavy, boxes of wrapping paper on the top shelf. During the night a group of us would gather for "lunch". There were four of us guys and a quintessential blonde gal. One night we were telling blonde jokes, as she had started telling them. So I asked her, "Why did the blonde get thrown out of the M&M factory?" She looked blankly at us and asked why. I responded, "she kept throwing the Ws away". Her immediate reply was, as true as I am standing here, "There are no Ws on M&Ms". We all burst out laughing. She couldn't figure out what was so funny. So I went and bought a pack of chocolate M&Ms (without the peanuts), since the store was part grocery store, opened it and took out a green one (green on purpose), and showed her the M on the candy and when turned over looks like a W. She punched hard for a girl! Peanut would swoosh her too.

that's a good 1 good night 😂

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  • yota691 changed the title to Report: The local purchasing power in Baghdad is 9.21% lower than Erbil

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