Iraq Economic News and Points to Ponder Late Wednesday Evening 4-3-24
Iraq Economic News and Points to Ponder Late Wednesday Evening 4-3-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Sells More Than A Quarter Of A Billion Dollars During Today's Auction
Economy News – Baghdad The Central Bank of Iraq announced, on Wednesday, its sales of hard currency, amounting to about 256 million dollars in today’s transactions, according to the official rate of 1310.
The bank’s data showed that the total internal cash withdrawals amounted to 11,710,000 dollars, while the total amounts of transfers abroad, which include remittances. The credits amounted to $244,703,014, while the total sale amounted to $256,413,014. https://economy-news.net/content.php?id=42151
The Central Bank Is Moving To Lift The Ban On 28 Iraqi Banks
Economy | 11:54 - 04/03/2024 Mawazine News – Baghdad The Parliamentary Investment and Development Committee revealed, today, Wednesday, steps by the Central Bank to lift the ban on 28 banks, while indicating that the private sector will participate with the public sector in many strategic projects.
The head of the Parliamentary Investment and Development Committee, Hassan Al-Khafaji, said in a statement followed by Mawazine News: “The committee proposed to the Governor of the Central Bank, Ali Al-Alaq, to support private private banks and involve them in loans,” explaining that “the governor confirmed his support after lifting minor violations against some banks.” ".
He pointed out that "the governor of the Central Bank promised to submit a report to the US Treasury to lift the ban on Iraqi banks, which number 28 private banks," expecting "the ban on those banks to be lifted during the coming period." https://www.mawazin.net/Details.aspx?jimare=245214
Chairman Of The Investment Authority: We Are Keen To Strengthen Relations With Various Countries
Economy News – Baghdad The head of the National Investment Commission, Haider Muhammad Makkiya, confirmed on Wednesday Iraq's keenness to strengthen its economic and investment relations with various countries.
The authority stated in a statement, seen by Al-Iqtisad News, that “The Chairman of the National Investment Authority, Haider Muhammad Makkah, received the Malaysian Ambassador to Iraq, Muhammad Shahir bin Sabruddin, and they discussed developing economic relations between the two countries.”
The head of the authority stressed - according to the statement - that "Iraq is keen to strengthen its economic and investment relations with various countries, including Malaysia, and to encourage Malaysian companies towards major and vital projects in Iraq."
For his part, the Malaysian Ambassador, Muhammad Shahir bin Sabruddin, thanked the Chairman of the National Investment Authority, Haider Muhammad Makkiya, for his interest in developing the investment process, opening horizons with reputable international companies, and activating purposeful activities that achieve common interests between Baghdad and Kuala Lumpur.
Views 32 04/03/2024 - 5:58 PM https://economy-news.net/content.php?id=42166
Iraq Stock Exchange: The Launch Of A New Stock Trading Index Is Near
Market Economy News – Baghdad The Iraq Stock Exchange announced today, Tuesday, the imminent launch of a new stock trading index.
A statement from the authority received by Al-Iqtisad News stated, “The Securities Authority and the Iraqi Stock Exchange, after studying, analyzing and measuring the market index for traded stock prices, are preparing to launch a new index that operates under the title ISX15.”
The statement added, “The work and analysis team at the Securities Commission and the Iraqi Stock Exchange focused on measuring the new index and testing it on the experimental environment, and then starting the test on the real environment according to the most important principles, the most important of which is selecting a sample of companies for the best 15 companies in terms of continuing daily trading, as well as choosing the company’s weight.”
Based on the market value of the free float shares, provided that the effect does not exceed 20% at best for a single company as a maximum, and adopting the same prevailing base session for the ISX60 index after adjusting its weight based on the free float shares, as well as other additional variables that will be presented in the index guide.
The statement indicated that “the launch of a new index, ISX15, aims to adopt free stocks in dealing and trading for the purposes of measurement and influence, and the interest of the financial markets in launching a total index and a partial index to measure the impact on the movement of continuously traded stock prices, and to attract new investors and national and foreign investment portfolios,” indicating that “The Authority and the market continue to issue indicators and updates, in addition to positive follow-up and disclosure.” Views 113 04/02/2024 - https://economy-news.net/content.php?id=42120
Infographic: The Central Bank Of Iraq Reveals A Decrease In The Percentage Of Non-Performing Loans
April 03, 2024 The Department of Statistics and Research at the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.
The Department of Statistics and Research said that the ratio of non-performing loans to total cash credit witnessed a decline, reaching (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%) and in 2020.
It reached (8.9%), and the department added that the ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%) while It was (5.2%) in 2020.
The Central Bank of Iraq emphasizes that this ratio is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products and adopt new methods and advanced systems for granting credit and reducing the risks of default in accordance with global contexts.
Central Bank of Iraq information Office 4/3/2024
Infographic: The Central Bank of Iraq reveals a decrease in the percentage of non-performing loans Clip_image004 https://cbi.iq/static/uploads/up/file-171212508978087.jpg
A Digital Platform To Enhance E-Governance Programs
The first 04/04/2024 Baghdad: Israa Al-Samarrai The Communications and Media Commission has identified the advantages of the digital platform that it launched a few days ago, for reserving the Iraqi domain (com.iq) and (net.iq), which aims to enhance Iraq’s national identity and introduce modern digital technologies into its commercial dealings with the aim of enhancing its international standing.
The authority’s official spokesman, Haider Najm, said in an interview with “Al-Sabah”:
The authority was keen to launch a digital platform to reserve the Iraqi domain (com.iq) and (net.iq), and thus companies can now reserve their own domain, indicating that the authority has approved the use of The latest technologies in the Iraqi domain digital platform. He added that the platform will provide its services for management and financial payment, and will also enable companies to choose the name they wish to reserve and pay the financial costs for the domain through DNS control, to which the domain that has been reserved will be linked through a specific website designated by the Authority for that purpose.
Najm considered the platform for the Iraqi domain to be one of the most important programs that his department was keen to implement and make available to users, as it enhances the work of electronic governance.
It will also provide a digital platform for reserving the Iraqi domain without any problems.
It will also create a qualitative breakthrough for companies operating in the country through my website (com.iq). And (net.iq). He stated that payment of fees for the Iraqi domain has been made available to every user through digital technologies, and the cost of each digital domain varies from one person to another or from one company to another, and is according to its size, capacity and number of characters, noting that domain reservation has been activated for companies first, while the coming period will witness the availability of reservation. The Iraqi digital domain is officially available to citizens. https://alsabaah.iq/94663-.html
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Provoking Points To Ponder On Failures and Mistakes
The errors of great men are venerable because they are more fruitful than the truths of little men.- Friedrich Nietzsche
There is something distinguished about even his failures; they sink not trivially, but with a certain air of majesty, like a great ship, its flags flying, full of holes.- George Jean Nathan
If all else fails, immortality can always be assured by spectacular error.- John Kenneth Galbraith
In a great mistake. - Nathalia Crane
Any man whose errors take ten years to correct is quite a man.- J. Robert Oppenheimer
If you have made mistakes, even serious mistakes, there is always another chance for you.- Mary Pickford
http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html