Скачать или смотреть Iraq Promoting the Use of Electronic Payment Cards iraqi dinar latest news dinner economy IQD

Iraq Promoting the Use of Electronic Payment Cards iraqi dinar latest news updates economy IQD

Hi friends good to see you again all i hope you all will be fine.

And for all of you I pray that GOD fulfill all your dreams and give you lots of happiness.

And my dear friends every time I try my best to give you all latest news.

Therefore, you are requested to sit tight on your seats and enjoy the latest news.

Iraq's central bank has expanded its gold reserves, purchasing approximately 52 tonnes of the precious metal over the past three years, according to the World Gold Council.

The country's gold holdings have seen a steady increase, with 33.9 tonnes acquired in 2022 alone, followed by 12.3 tonnes in 2023, and 5.7 tonnes so far this year.

The central bank's move to bolster its gold reserves aligns with a global trend among central banks seeking to diversify their foreign exchange reserves and mitigate economic risks.

In the first half of 2024, central banks purchased 483 tonnes of gold, setting a new record.

Most of the world’s gold is held by central banks, which maintain these reserves due to their safety, liquidity, and return characteristics. These institutions hold approximately one-fifth of all the gold mined throughout history.

In 2024, gold prices have surged almost 20%, driven by significant central bank purchases, robust consumer demand in China, and increased interest in safe-haven assets due to geopolitical uncertainties.

And On Saturday, Iraq’s Financial and Economic Advisor to the Prime Minister, Mudher Mohammad Saleh, noted that Iraq is experiencing “a significant leap” in promoting the use of electronic payment cards.

Speaking on behalf of Al-Sudani at the Electronic Payment Conference on Financial Stability in Iraq, Saleh highlighted that Iraq is advancing in official projects within the information era, emphasizing that “economic and financial policies are crucial for shaping the financial inclusion program.”

"The substantial increase in electronic systems represents a shift from a cash-based economy to widespread use of electronic payment cards, covering everything from government revenue collection to everyday shopping payments."

He also noted that the government's digital policies, launched a year ago, are key to the government program’s electronic governance efforts to protect public funds from corruption. “This governance aims at improving payment system efficiency by transitioning from cash to digital payments, thereby enhancing electronic revenue collection.”

Earlier today, during the same event, Central Bank of Iraq (CBI) Governor Ali Al-Allaq predicted a significant rise in the number of digital banks in the country. “Iraq is set to become a leader in digital banking, with a greater number of digital banks compared to its neighbors,” he stated.

Thanks take care.

#iraq
#dinner
#dinar
#exchangerate
#exchange
#business
#investment
#dinardetectives
#iraqidinar
#usa
#usa_canada
#economy
#dong
#vietnamese
#vietnam
#rapidupdates
#dinaran
#dinara
#iqd
#currencynews
#currency
#currencytrading
#investments
#investmentstrategy
#iraqê
#viralshort
#dollar
#dollers
#vnd
#usd
#crypto
#cryptocurrency
#cryptonews
#cryptocurrencies
#btc
#xrp
#update
#updates
#videos
#forex
#forextrading
#forextrader