KTFA (MilitiaMan & Samson)

MilitiaMan: Visa and Master Card are able to go outside the borders, more evidence.. imo.. ~ MM

Don961:  Retired on a date with new services

Tuesday 11 June 2019

Baghdad / Farah Al-Khafaf

The government continues to rely on mechanisms and controls to facilitate financial transactions, notably the disbursement of salaries and lending operations, including loans to retirees as an important segment that has provided long years in community service.

These trends follow the completion of time plans for the resettlement of salaries of retirees in government and private banks by the General Retirement Authority and in agreement with the concerned parties in facilitating the granting of loans For retirees.

Cancellation of the sponsor’s condition

The head of the General Retirement Authority Ahmed Al-Saadi said in a statement to «morning», that «retirees Homeland salaries at the government banks, especially Rafidain and Rasheed Bank as well as private banks, and those who have received electronic payment cards (Master and Visa Card), will benefit from the loans and the condition of canceling paragraph Guarantor guarantor ».

Al-Saadi pointed out that «the process of localization of salaries are in accordance with time plans and in accordance with the directives of the Secretariat of the Council of Ministers and in cooperation with the Central Bank, as it was agreed with private banks to cancel the condition of the sponsor in the mechanisms of granting loans and advances to retirees, as the pension provides the pensioner to obtain Finance ».

ATM deductions

Al-Saadi pointed out that «deductions in the card-card was very high, and now withdrawals from ATMs in malls or banks will be the deduction ratio of zero, if the salary is received from the ATM (ATM) of the home bank has a salary Or did the shopping, and there will be deductions except for commissions prescribed by the Central Bank.

For his part, believes financial expert Thamer al-Azzawi that “the mechanisms and plans set by the government are successful steps in the interest of the economy of the country, by following the modern and sophisticated methods that support the economy of the Iraqi individual and meet the requirements in financing and lending.”

Al-Azzawi said in a statement to Al-Sabah that “the facilities offered to retirees in the field of credit and bank lending are part of the response to this category, which spent many years in government jobs to provide services to citizens and society.”

Pay dues monthly

He finds that “the recent decision taken by the General Pension Authority to pay the salaries and pensions of retirees monthly instead of every two months, an important and effective decision, especially that the retired citizen needs his financial dues to pay monthly to pay the obligations of bills and rents, as well as other living requirements.

The public pension authority announced last month the approval of the Ministry of Finance to pay the salaries of civilian and military retirees a month instead of two months.

The Commission began implementing this decision as of the beginning of the sixth month of June, after the Commission completed all the requirements related thereto.

New banking products

In turn, the financial expert called on “the competent authorities to provide new banking products for retirees, not only on advances and loans, as well as the establishment of new lending mechanisms for retirees including facilities on interest rates and deductions, as well as the provision of financial funding for treatment in cases that need to travel outside Iraq“.

Al-Rafidain Bank and Al-Rashid started implementing the plan to issue electronic payment cards to retirees by granting advances and loans to MasterCard cardholders who are retired without a guarantor guarantor. According to instructions issued by Competent government agencies .

“Paying every two months has caused me many problems with the owner and the tenant to claim them every month for their dues. I have to agree with them to pay two months advance.

“The granting of loans and the disbursement of salaries without deductions will contribute to the revival of the living conditions of retirees.”      link

MilitiaMan:  Including the creation of the Notary Public Department in the area of Baasheqa, Nineveh province  LINK

Development of internal trade   link

Parliamentary Finance: The budget of 2020 is completely different from all budgets since 2003   LINK

MilitiaMan:  IMO, in the above may get one thinking about just how far along they area now. Keep in mind they don’t mention 2019 Budget.. Why? Well that would expose the rate.

Well, since the FML has been law now for a couple of days imo, they issued instructions (mechanisms) for the MC and Visa Cards and even apparently passed internal regulations for 2019 and to help large contractors who build things and need to import and or export goods and service, just as they are allowing the Citizens to us cards outside the country…

More evidence of article 8 so it seems. Now the CBI needs to talk to the citizens about a rate, imo.. Once they do that in regard to the rate, the laundry list of things can get done. ITB, Contracts, re construction, payments, settlements, etc., etc. ~ MM


Samson:  In figures .. countries that have the largest reserves of gold

2019/6/11 15:21

An IMF report showed a list of the world’s largest gold reserves.
The precious metal, used by many as a safe haven for thousands of years, is once again emerging as geopolitical crises mount.

Although it is widely believed that the IMF has the largest reserves of gold because of its importance in the economies of many countries, this international body ranks third after Germany and the United States, which tops the list as follows:

China (1885 tons).
6 Russia (2168 tons).
5 France (2436 tons).
4 Italy (2451 tons).
3 International Monetary Fund (2,814 tons).
2 Germany (3369 tonnes).
1 United States (8,133 tons).   LINK

    |   Category: KTFA