Three government banks and the Retirement Authority announce the postponement of payment of monthly advance installments

[RJG]

Three government banks and the Retirement Authority announce the postponement of payment of monthly advance installments

EconomyBreakingRafidain BankPredecessorInstallments

2024-03-05 11:06

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Shafaq News/ The administrations of the Rafidain, Rasheed and Agricultural Banks, which are the National Retirement Banks, decided on Tuesday to postpone the payment of monthly advance installments for only one month.

 

The administrations of Al-Rafidain and Al-Rasheed Banks said in two separate statements, in response to Shafaq News Agency, that they had decided to “postpone the collection of the monthly installments of advances from civilian and military employees for the holy month of Ramadan (for one month and only).”

 

According to the two statements, the decision comes “based on the directives of the Prime Minister and the Minister of Finance, and the approaching month of Ramadan.”

 

The Agricultural Bank media also reported, in a statement received by Shafaq News Agency, that the payment of installments of loans and advances granted by the Agricultural Bank for the month of Ramadan has been postponed.

 

In turn, the National Retirement Authority announced, in a statement received by Shafaq News Agency, the postponement of the monthly installments for civilian and military retirees for the month of Ramadan, for one month only.

https://www.shafaq.com/ar/اقتصـاد/مصرف-الرافدين-يعلن-ت-جيل-استيفا-قساط-السلف-الشهرية-لشهر-واحد

 

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[JonnyV]

Hmm.  Only one month.  Hopefully because of a rate change.  Doesn’t make sense to stop compensating Iraqis when they need it especially during Ramadan.    

[Laid Back]

I thought the same thing.

 

Lets go Stronger Dinar.!

[Longtimelurker]

Anyone remember them doing this previously? I dont

[Laid Back]

I don’t remember them doing this previously.!

 

Go Stronger Dinar.

[screwball]

5 hours ago, Laid Back said:

I thought the same thing.

 

Lets go Stronger Dinar.!

Yep and me too! Interesting timing! 

[screwball]

4 hours ago, Laid Back said:

I don’t remember them doing this previously.!

 

Go Stronger Dinar.

Nope

[screwball]

And over ramandan….that’s a bit harsh 

[Woldopep]

I don’t believe they are postponing payments to citizens. I believe they are postponing the payments the citizens who took loans having to make payments. The citizen gets to basically skip a payment for Ramadan.

[currenzcraze]

They are talking about advance loans but it also says retirement payments.  This is very odd.  I also agree this has not happened before.

 

“…the National Retirement Authority announced, in a statement received by Shafaq News Agency, the postponement of the monthly installments for civilian and military retirees for the month of Ramadan, for one month only.”

[horsesoldier]

2 hours ago, screwball said:

And over ramandan….that’s a bit harsh 

These are harsh people, besides which the folks pulling the magic carpet out from underneath these poor souls don't care. 

They're fat & happy with loads of $$$$$. 

[screwball]

4 hours ago, Woldopep said:

I don’t believe they are postponing payments to citizens. I believe they are postponing the payments the citizens who took loans having to make payments. The citizen gets to basically skip a payment for Ramadan.

Okay possible…but this is still a first that I can recall

[Longtimelurker]

5 hours ago, Woldopep said:

I don’t believe they are postponing payments to citizens. I believe they are postponing the payments the citizens who took loans having to make payments. The citizen gets to basically skip a payment for Ramadan.

I agree, I believe that they're giving people a month off from making payments, not withholding payments to them. Still haven't seen this before.

[Artitech]

Well ramadam starts in 3 days and runs through April 9 2024. I didn’t know ramadam was coming this early. Looks like our window of opportunity closing on the 10th of March! That puts the end of the 1st quarter right in the middle of ramadam!!! Looking likely that any chance of an RV/RI in 2024 is going to be dead and gone!!! I really hope I’m wrong but these POS don’t do anything during ramadam! What a damn shame! Well looks like I will be celebrating ramadam with a big ole smoked ham and a BLT sandwich for lunch!! Eat more bacon!! Happy ramadam folks! 🤠

[horsesoldier]

5 hours ago, Artitech said:

Well ramadam starts in 3 days and runs through April 9 2024. I didn’t know ramadam was coming this early. Looks like our window of opportunity closing on the 10th of March! That puts the end of the 1st quarter right in the middle of ramadam!!! Looking likely that any chance of an RV/RI in 2024 is going to be dead and gone!!! I really hope I’m wrong but these POS don’t do anything during ramadam! What a damn shame! Well looks like I will be celebrating ramadam with a big ole smoked ham and a BLT sandwich for lunch!! Eat more bacon!! Happy ramadam folks! 🤠

Yep, sure enough. Hold onto your Dinars they're worth more than $$$, said Sudani early '23. 

He just said hold'em, never did give a year as to when they'd be worth more than $$$$$.

Such despicable people. Eat more Pig 🐷 everyone 

[gregp]

Ramadan = Nothing ever happens. 
 

[rvmydinar]

1 hour ago, horsesoldier said:

Hold onto your Dinars they're worth more than $$$, said Sudani early '23. 

He just said hold'em, never did give a year as to when they'd be worth more than $$$$$.

if Sudani really gave the real date as to when they'd be worth more than $$$, then do you think the big whales won't buy up more dinar?

[RJG]

After Al-Rasheed and Al-Rafidain...the Iraqi Bank announces the cessation of deducting installments
Economy | 12:31 - 03/06/2024


Mawazine News - Baghdad

The Trade Bank of Iraq announced today, Wednesday, the suspension of deducting loan installments for all employee borrowers for one month only.
The bank’s media expert, Aqeel Al-Shuwaili, said in a statement received by Mawazine News: “In implementation of the directives of Prime Minister Muhammad Shiaa Al-Sudani to stop deducting loan installments for all employees on the occasion of the holy month of Ramadan, we announce the suspension of deducting loan installments for all employee borrowers for one month only.”
He continued, "This came on the occasion of the advent of the holy month," noting that "the loans will be repaid after the end of the blessed month of Ramadan."

https://www.mawazin.net/Details.aspx?jimare=243331

 

 

[screwball]

8 hours ago, RJG said:

After Al-Rasheed and Al-Rafidain...the Iraqi Bank announces the cessation of deducting installments
Economy | 12:31 - 03/06/2024


Mawazine News - Baghdad

The Trade Bank of Iraq announced today, Wednesday, the suspension of deducting loan installments for all employee borrowers for one month only.
The bank’s media expert, Aqeel Al-Shuwaili, said in a statement received by Mawazine News: “In implementation of the directives of Prime Minister Muhammad Shiaa Al-Sudani to stop deducting loan installments for all employees on the occasion of the holy month of Ramadan, we announce the suspension of deducting loan installments for all employee borrowers for one month only.”
He continued, "This came on the occasion of the advent of the holy month," noting that "the loans will be repaid after the end of the blessed month of Ramadan."

https://www.mawazin.net/Details.aspx?jimare=243331

 

 

Don’t remember this every being done….maybe switch electornic systems? Maybe expecting rate change when they celebrate Eid? Who knows really 🤷‍♂️

[JonnyV]

1 hour ago, screwball said:

Don’t remember this every being done….maybe switch electornic systems? Maybe expecting rate change when they celebrate Eid? Who knows really 🤷‍♂️

 

The RV/RI is around the corner.  Anyone who thinks otherwise is foolish.  Some think it’s gonna LOP but that won’t happen.  The US, Coalition Forces and the banksters of the world will not benefit from that and they invaded Iraq to benefit from this.   

[Half Crazy Runner]

10 hours ago, JonnyV said:

Some think it’s gonna LOP but that won’t happen.

Very true! The only time a country need to lop their currency is when there is out of control hyperinflation. 

[JonnyV]

4 minutes ago, Half Crazy Runner said:

Very true! The only time a country need to lop their currency is when there is out of control hyperinflation. 

 

Exactly.  Plus, people need to think about it.  The US spent billions to reprint the Dinar and injected billions into their economy, all the military lives lost battling ISIS, terrorists, insurgents etc…. Plus the coalition forces fighting too.  Not to mention the debt that was and/or still to be forgiven post RV.  

Maybe Iraq wants to LOP but they won’t be allowed to. The only thing they are in control of is passing laws and squaring away their banking methods. So we wait. 🥱 

[3n1]

8 hours ago, JonnyV said:

 

Exactly.  Plus, people need to think about it.  The US spent billions to reprint the Dinar and injected billions into their economy, all the military lives lost battling ISIS, terrorists, insurgents etc…. Plus the coalition forces fighting too.  Not to mention the debt that was and/or still to be forgiven post RV.  

Maybe Iraq wants to LOP but they won’t be allowed to. The only thing they are in control of is passing laws and squaring away their banking methods. So we wait. 🥱 

 

true all that ...... thats why i still have iqd , over the years there has been many articles about the

" Delete the zeros project " removing the 3 zero note count , think i first started seeing them in 2011-12 one of the last projects shabibi began before maliki put out a warrant for his arrest , after that musical chairs at the cbi and full on corruption ensued and here i sit 🤣

[Longtimelurker]

On 3/7/2024 at 8:24 AM, gregp said:

Ramadan = Nothing ever happens. 
 

Last Ramadan they got several things accomplished. I remember being surprised 

[Longtimelurker]

On 3/7/2024 at 12:35 PM, RJG said:

After Al-Rasheed and Al-Rafidain...the Iraqi Bank announces the cessation of deducting installments
Economy | 12:31 - 03/06/2024


Mawazine News - Baghdad

The Trade Bank of Iraq announced today, Wednesday, the suspension of deducting loan installments for all employee borrowers for one month only.
The bank’s media expert, Aqeel Al-Shuwaili, said in a statement received by Mawazine News: “In implementation of the directives of Prime Minister Muhammad Shiaa Al-Sudani to stop deducting loan installments for all employees on the occasion of the holy month of Ramadan, we announce the suspension of deducting loan installments for all employee borrowers for one month only.”
He continued, "This came on the occasion of the advent of the holy month," noting that "the loans will be repaid after the end of the blessed month of Ramadan."

https://www.mawazin.net/Details.aspx?jimare=243331

 

 

"the loans will be repaid after the end of the blessed month of Ramadan."

 

Interesting 👆