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Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
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Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

Indonesia launches national payment system to replace VISA, MasterCard

  • By Al Mayadeen English
  • Source: Agencies
  • 15 May 2023 21:16
  • 5 Shares
3 Min Read

Dicky Kartikoyono the Head of Strategic Management and Governance Department of the Central Bank, says that Indonesia will launch its very own national payments system to be used in state-owned institutions and enterprises.

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  • A Visa credit card placed on tip of a Mastercard credit card, 9 June 2016. (Reuters)
    A Visa credit card is placed on top of a Mastercard credit card, 9 June 2016 (Reuters)

The Bank of Indonesia announced that the country will introduce a new national payment system which is set to replace VISA and MasterCard in state-owned institutions and companies, the Head of Strategic Management and Governance Department of the Central Bank, Dicky Kartikoyono, said on Monday.

"In accordance with the president's plan, the transition to our national payment system is proceeding smoothly. We expect that very soon it will become widespread, including within state-owned enterprises," CNBC Indonesia quoted Kartikoyono saying.

The official added that the country had made "a very timely" choice to initiate its own payment system. Kartikoyono thinks that Southeast Asian countries should move towards establishing "a safety cushion that will protect businesses and ordinary citizens" amid growing financial uncertainty in the West.

In early May, the country founded a card to supplement the national payment system.

Related News

Mastercard,Visa linked to illegal gambling scam targeting UK customers

Widodo urges Indonesia to abandon Visa, MasterCard to be 'independent'

Indonesian President Joko Widodo pressed regional authorities, in March, to substitute the financial conglomerates and instead opt for credit cards developed by local banks, in an attempt to safeguard transactions from "possible geopolitical consequences."

Dodit Proboyakti, a board member of the Indonesian Credit Cards Association, told Sputnik that the country will learn from Russian experiences and its Mir payment system to build up its own. Russia grew its national payment system after Western sanctions on Russia halted access to Western-owned Financial services companies following its Special Military Operation in Ukraine.

Countries find alternatives to USD

Record inflation in the West has pushed countries around the world to find alternatives to the US dollar (USD) and its financial institutions. 

In March, the Chinese yuan overtook the US dollar in China's cross-border trade transactions for the first time, dealing a new major blow to the green note that is witnessing a global decline in its position as the top reserve currency.

While Brazillian President  Luiz Inacio Lula da Silva called on countries of the Global South to work toward ditching the USD in their international trade and resort to their own currencies instead. 

China and Brazil struck a deal to ditch the US dollar in their bilateral transactions, in March, which is expected to reduce investment costs and develop economic ties between the two countries.

  • mastercard
  • de-dollarization
  • visa
  • MIR payment system
  • Indonesia

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