KTFA (MilitiaMan)

  In MilitiaMan 

MilitiaMan: Information noted below has this to say about the Kurds. They use the wording “next two days” and they use “after reaching and agreement”. Per that statement they have it agreed upon imo.. Why state next Saturday to pass it, don’t know?

It is not their job to change the rate. The is the CBIs job and we all witnessed that to be the case on 12/20/2020 to 1460. ~ MM

BUNA is to go live on the TENTH.. The CBI has a new digital system they launched. The CBI states they have approved the new exchange rates. Well the first one was done already, the next rate change is to yet come out. But the CBI states they have approved the exchange rates.

The BUNA system by charter will not interconnect to a Non – Article 8 Compliant Currency i am being told. So, the next move is imo to be Article 8 compliant. If they hold to the time frame of the TENTH, then this next week is an interesting one imo.. ~ MM

The move to go cashless is digital and that is probably why the Kurds are looking to allow the taxes and tarrifs at the borders be sorted by Baghdad and the Kurds Oil is to be sorted by the Kurds.

With digitizing, there will not be the ability to skim off the cream at the borders anymore, and the oil deals the Kurds have done in the past? Will or may not have to be restructured. Likely a good thing and mediated by the USA recently. ~ MM

“Today, Sunday, an informed parliamentary source said that there has been a preliminary agreement between the political forces to pass the 2021 budget bill next Saturday.”

“The agreement came after reaching an agreement and consensus with the Kurdish forces regarding the region’s share of the budget during the next two days.”  link

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The International Islamic Bank announces its joining of the Bani Arab Payments platform

“The Islamic International Bank announces the completion of all operational requirements for the connection with the Bunaa Arab Payments platform, affiliated to the Regional Corporation for Arab Payments Clearing and Settlement owned by the Arab Monetary Fund. The bank confirmed that the service will be launched on the tenth of this month.  LINK

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Digital enrollment service launched

7th February, 2021

The Central Bank of Iraq announces the launch of the digital enrollment service, which is the first of its kind in Iraq and the region.

Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.

This service is considered a modern and different trend due to its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises the traditional barriers in the Iraqi banking sector.

The Central Bank of Iraq,
7 February 2021 
LINK

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The Central announces the launch of the digital enrollment service   LINK 

Economic: He added,

“After the central bank approved the new exchange rates in agreement with the government, the budget numbers are not subject to amendment and cannot be challenged by Parliament.” LINK