Iraq Economic News and Points to Ponder Friday Afternoon 3-1-24

Tlm724 Administrator Bondlady’s Corner

Central Bank: These Are The Procedures For Registering Customers And Filling Wallets And Smart Cards

Friday 01, March 2024 10:39 | Economical Number of readings: 759  Baghdad / NINA / The Central Bank of Iraq announced a list of controls regulating customer registration procedures and filling wallets and prepaid cards, to banks and all electronic payment service providers to implement./End 5   https://ninanews.com/Website/News/Details?key=1110564

Central Bank Governor Ali Al-Alaq Calls For Making Private Sector Collections Through Electronic Payment

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Friday, the presence of great interest and interaction by Prime Minister Muhammad Shiaa Al-Sudani, urging state institutions to make electronic payments, while noting that the volume of funds collected from state institutions indicates the success of the electronic collection project.

Al-Alaq said, “We are standing on an important station at the national level, which is electronic payment,” indicating that “the issue relates to economic, regulatory, supervisory, and stimulating aspects of investing resources or funds instead of being outside the banking and financial system.”

He pointed out that "electronic collection is an important pillar in activating electronic payment because of the presence of institutions, multiple services, fees and fees, and many services that can save costs, organize and control them through electronic payment methods for which the Central Bank provides the infrastructure and makes it applicable."

He added, "There is an effort at the national level that requires the combined efforts of all institutions, and there is great care, interest, and interaction from the Prime Minister, who is following up with the Central Bank and the concerned authorities to urge ministries and state institutions to interact with this major project."

He stressed that "the numbers mentioned regarding the use of electronic payment indicate that the launch was very successful, and reflect that the issue is moving in the right direction by including all state institutions concerned with collection with the application of electronic payment."

He explained that "the numbers reflected all state institutions and provided electronic collection, and the amount of funds indicates success," expressing his hope that "the scope of application will expand to include all private sectors."

He pointed out that "there is a great response from the federations and concerned private and public economic bodies to advance this large national project and its multiple episodes," stressing that "the Central Bank is working on multiple levels in order to reach important leaps."

262 views 03/01/2024 - https://economy-news.net/content.php?id=41018

Oil Prices Rise As Markets Await The OPEC+ Decision

Economy | 01/03/2024  Mawazine News - Baghdad..Oil prices rose in trading today, Friday, as markets awaited the OPEC+ group’s decision on the black gold production policy.

US crude contracts were trading at $78.56 per barrel, an increase of 0.38% from the previous settlement price.

While global Brent crude futures contracts were trading at $82.29 per barrel, an increase of 0.46% from the previous closing price, according to Bloomberg data.

Earlier, Reuters quoted informed sources that the OPEC+ group is studying the issue of extending the voluntary cuts to the second quarter of this year.https://www.mawazin.net/Details.aspx?jimare=242996

The Central Bank Reiterates Its Emphasis On Facilitating And Simplifying Banking Procedures

Thursday 29, February 2024 12:50 | Economical Number of readings: 419  Baghdad / NINA / The Central Bank of Iraq reiterated its mandate to facilitate and simplify banking procedures by taking the necessary measures to ensure this by banks, and facilitating “know your customer” procedures in accordance with the laws and instructions issued in this regard.

The Central Bank pointed out that this comes for the requirements of the public interest, and in order to enhance the performance of banks using various approved means for the purpose of attracting the public to conduct financial operations through the banking channels approved by it, and the impact of this on the growth of the Iraqi banking sector./ https://ninanews.com/Website/News/Details?key=1110406

A Movement To List Government Bonds In The Markets

 Market  Economy News – Baghdad  On Monday, the Iraqi Securities Commission explained the importance of government bonds, stressing that they  provide financial liquidity for investment projects, while indicating that there is a movement from the Central Bank to list government bonds in the markets.

 The Chairman of the Authority, Faisal Al-Haims, said in a statement reported by the official news agency and seen by Al-Iqtisad News, that  “three issues of government bonds were issued, as the first and second issues were launched, and now there is the third issue.”

He pointed out,  "There are requests from the Central Bank of Iraq to list these bonds on the market," indicating that  "those bonds are debt securities owed by the Iraqi government, in exchange for interest given to the owner of this bond." He stressed,

"This measure will provide financial liquidity for the investment projects launched by the Prime Minister and his government," suggesting that they "will be crowned with goodness and success for the Iraqis."

Government bonds are a type of debt-based investment, where you lend money to the government in exchange for an agreed interest rate.

Governments use them to raise money that can be spent on infrastructure or new projects, and investors can use them to obtain set returns that are paid at regular intervals.  335 views  02/26/2024 - https://economy-news.net/content.php?id=40882

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Provoking Points to Ponder on Decisions 

Full maturity ... is achieved by realizing that you have choices to make.  - Angela Barron McBride

Wherever you see a successful business, someone once made a courageous decision.  - Peter Drucker

Life is just a series of trying to make up your mind.  - Timothy Fuller

Life is just an endless chain of judgements. . . . The more imperfect our judgement, the less perfect our success.  - B. C. Forbes

To know just what has do be done, then to do it, comprises the whole philosophy of practical life. - Sir William Osier

Life is like a game of cards. The hand that is dealt you represents determinism; the way you play it is free will.  - Jawaharlal Nehru

Somehow we learn who we really are and then live with that decision.  - Eleanor Roosevelt

Living is a constant process of deciding what we are going to do.  - Jose Ortega

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