A Few More Tidbits From TNT Monday Night 12-2-2024
TNT:
Tishwash: TikTok under scrutiny.. Central Bank suspends financial transactions with its agents in Iraq
The Central Bank announced, today, Sunday (December 1, 2024), the suspension of financial transactions with TikTok agents in Iraq.
The Central Bank stated in a document received by "Baghdad Today" that "it was decided to stop incoming and outgoing financial transactions for TikTok agents inside Iraq. link
Tishwash: Parliamentary Finance Committee sets a “national path” to end oil disputes between Baghdad and Erbil
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced on Sunday the determination of a "national path" to resolve the oil disputes between Baghdad and Erbil, noting that the committee is preparing a report on amending one of the articles in the General Budget Law.
A statement by the committee received by Shafaq News Agency stated that Al-Atwani chaired an expanded meeting with the senior staff of the Ministry of Oil, in the presence of the committee members and a number of members of the Oil, Gas and Natural Resources Committee. The meeting discussed the files of managing the country's oil wealth and the future of oil prices, as the country's budget is formed by 90% of these revenues.
According to the statement, the meeting discussed developments in resolving outstanding issues with the Kurdistan Region regarding resolving disputes over calculating production costs and adapting foreign companies’ contracts to the Iraqi constitution, with the aim of resuming exports via the Turkish Ceyhan pipeline.
Al-Atwani pointed out that his committee is in the process of preparing its report on amending Article 12 of the General Budget Law, and submitting it to the House of Representatives for the second reading.
He stressed that the Finance Committee held a series of continuous meetings with officials in the federal government and the regional government, and "defined a national path to find a radical solution to this problem on a constitutional and legal basis and in a way that achieves justice in the distribution of wealth among Iraqis."
Al-Atwani stressed the need to set a timetable for implementing the provisions of the oil agreement between the center and the region, in accordance with what was stipulated in the draft law amending the Federal General Budget Law, which the Council of Ministers voted on and sent to Parliament.
In turn, the Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Muhammad Khadir, reviewed the mechanisms for calculating the cost of oil production and transportation, and the most prominent understandings reached with the region in this regard.
The Undersecretary of the Ministry of Oil stressed the necessity for the Federal Ministry of Oil to be responsible for the reservoir management of the region’s oil fields, noting that his ministry has fixed standards for calculating the cost of producing a barrel of oil, whether at the level of fields managed by national effort or those managed by foreign companies. link
************
Tishwash: Association of Banks: 75% of the money supply is outside the banking system
The Private Banks Association said on Sunday, December 1, 2024, that three-quarters of the monetary mass in Iraq is outside the banking system.
The Executive Director of the Private Banks Association, Ali Tariq, said in a statement followed by "Ultra Iraq", "About 75 percent of the monetary mass is outside the banking system and requires a great effort to encourage citizens, companies and institutions to use the banking system more, which is currently happening, but this type of work needs to be accelerated to control financial operations in Iraq."
Despite what the director said in this regard, the World Bank claimed last February that the infrastructure for electronic payment systems in Iraq is “among the best in the region,” according to a statement issued by the Central Bank of Iraq .
“During the last two years, deposits in the banking sector have increased, but there is still a large amount of cash outside the banking system. This requires increasing confidence in the banking sector, whether governmental or private, and strengthening this confidence through the Central Bank of Iraq and the Iraqi government, in addition to offering investment programs for deposits that reflect on citizens’ deposits, which could generate returns for depositors in these banks, and thus there is an incentive and motivation to increase these deposits,” Tariq added.
The Iraqi authorities have taken steps towards activating the electronic payment system , starting with localizing employees’ salaries, and then installing electronic payment devices in different places, including gas stations. However, many experts and specialists still believe that the culture of electronic payment is not at the required level, for many reasons, including those related to economic and electronic culture, in addition to the fact that the widespread corruption in the country hinders its full implementation.
According to experts , the Iraqi government, through attempts to implement electronic payment, aims to withdraw the cash mass in circulation in Iraq, which amounts to 84 trillion dinars. link
Mot: Here is photographic evidence that Rudolph was not allowed to play in any reindeer games.
Mot: . ole "'Earl"" is mighty Handy He is!!
