Economist: Financial bonds target citizens’ hoarded funds..and lists their benefits
The economic expert, Abdul Rahman Al-Shaikhli, confirmed that the financial bonds, “second issue,” target the hoarded money of citizens, while he listed its benefits.
Al-Shaikhli told {Euphrates News} that: “The bonds issued by the Ministry of Finance are the second and very important; for the purpose of withdrawing the hoarded money of citizens to revolve in the orbit of banking channels.”
He added, “About 85% of the issued money is hoarded by citizens and causes an imbalance in the national economy as well as a state of inflation.”
Al-Shaikhli explained, “The specified amount will be divided into two types, one for a period of one year and the other for two years with an annual profit value of 6.5% taken monthly, and also for four years the citizen can obtain it with an interest of 8.5%.”
Regarding the method of obtaining this money, Al-Shaikhli explained, “The citizen, companies and individuals submit a request to the authorized bank with their original papers and documents, then the amount is delivered at the initial price of the share, and after a period of time, this money is sent with copies of the supporting documents to the Central Bank, so the transaction is completed and an official receipt is sent to the shareholder, and he has the right at that time to enter the Iraqi financial market and recover the money at the time he wishes.”
He added, “These funds are not considered frozen like deposits, but rather enter the stock market, and therefore it has the right to be traded at the daily price. The issuance will be on July 22nd for a period of one month.” link
************
Tishwash: Iranian Foreign Ministry: America uses the dollar to unilaterally dominate the world
Iranian Foreign Ministry spokesman Nasser Kanaani said that the United States uses the US dollar to unilaterally dominate the world.
The Iranian Foreign Ministry spokesman recalled the currency agreement recently concluded between Russia and Iran to ensure the liquidity of national currencies in commercial transactions, noting that the Iranian side proposed using the same mechanism at the level of the BRICS countries.
The spokesman stressed that the BRICS countries have the necessary capacity and capabilities to promote and enhance the principle of multipolarity.
Kanaani said in an interview with RT: The whole world is already tired of Western unilateralism.
The BRICS group is moving towards expanding non-dollar payments, as the group’s countries seek to move away from the US-controlled SWIFT banking correspondence system.
One of the main goals of the BRICS countries is to move away from the dollar and use national currencies in trade transactions. It is worth noting that 95% of trade transactions between Russia and China are conducted in rubles and yuan.
It is known that Russia assumed the presidency of the BRICS group on January 1 of this year.
The year began with new members joining the organization – in addition to Russia, Brazil, India, China and South Africa, the group now includes Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia.
As part of its presidency of the group, Russia organizes more than 200 political, economic and social events and activities. link
