Iraq Economic News and Points to Ponder Thursday Evening 8-15-24
Among Them Is The Delay In Distributing Profits.. An Economic Diagnosis Of The Reasons For The Decline In Stock Prices On The Iraqi Stock Exchange
Stock Exchange Economy News – Baghdad Financial markets expert, Tamara Hussein, attributed the decline in stock prices on the Iraqi Stock Exchange today, Thursday, to the lack of demand from investors.
Most of the stocks in the Iraq Stock Exchange have witnessed a decline in their value since the tension in the region, as the leading stocks continue to decline.
Hussein said, in an interview with "Al-Eqtisad News", that "the decline in stock prices in the Iraqi Stock Exchange is due to many reasons, the most important of which is the weak demand due to the lack of liquidity available in the market, as well as the increase in banks' capital through subscriptions that were conducted in previous months, as they withdrew a lot of money from investors."
She added, "The other reason is the delay in distributing the profits that were approved by some banks," adding, "We hope that the market's performance will improve after they are distributed."
She pointed out that, "The third issue revolves around foreign investors' sales, in addition to inaccurate news that talks about the possibility of a global crisis in the financial markets, which caused a state of panic and withdrawal from trading, which is an expected and natural situation."
The financial markets expert expected that "leading companies will regain their usual positions in the coming months." To view the latest news, follow us on Telegram https://t.me/Economynews2021 - https://economy-news.net/content.php?id=46336
The Stock Market Ends The Week With Losses
Stock Exchange Economy News – Baghdad The stock market ended its week, Thursday, with losses of 0.20%. The session witnessed the trading of 3.4 billion shares, worth 1.8 billion dinars.
552 transactions were executed on the shares of 36 traded companies.
The value of shares of 15 traded companies decreased, while the value of shares of 5 other companies increased. 103 viewS 2024/08/15 - https://economy-news.net/content.php?id=46354
Central Bank Of Iraq Announces The Establishment Of A Complaints Management Platform
Banks Economy News – Baghdad The Central Bank of Iraq announced, on Thursday, the establishment of a platform to manage citizens’ complaints, while confirming that the period for processing the complaint will not take more than five days.
The Central Bank's media office said in a statement, seen by "Al-Eqtisad News", that "the platform was created in the context of work to develop institutional work performance and simplify government procedures by shifting to digital transactions, and for regulatory objectives that are consistent with the Central Bank of Iraq Law No. (56) of 2004 as the sectoral body supervising the work of all licensed financial institutions."
He added, "The establishment of the platform also came in view of the continuous development witnessed by the electronic financial industry, and due to its great importance in achieving economic growth, financial stability and enhancing levels of financial inclusion, the Central Bank of Iraq has created an electronic platform for managing the complaints system."
He added, "The work of the platform is summarized in automating the receipt of all public complaints by financial institutions via the electronic complaint form link, and its processing is managed under the supervision of the Central Bank of Iraq and its financial institutions through this platform." He continued,
"The period of processing the complaint does not take more than five working days, by the financial institution concerned with the complaint, in addition to its importance and nature."
The bank indicated, according to the statement, that "the prepared platform is in the training phase for authorized banking and non-banking financial institutions, and it will be launched in real time after the training operations are completed."
The Central Bank published the platform link, which appears below:
https://cbi.iq/static/uploads/up/file-172371164075527.pdf
116 views Added 2024/08/15 - https://economy-news.net/content.php?id=46348
Al-Sudani's Advisor: Iraq's External Debt Does Not Exceed 9 Billion Dollars
Economy | 12:16 - 08/15/2024 Mawazine News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Thursday, that Iraq's external debts do not exceed 9 billion dollars.
Salih said that "Iraq's external debts due during the current decade do not exceed 9 billion dollars in all cases."
He added that "the general budget provides sufficient annual allocations to service all debts, which means paying installments and interest, according to the nature of the debt, which is called debt amortization."
He continued that "Iraq has not recorded any default in paying its external debt obligations over the past twenty years," noting that "payment mechanisms are carried out according to strict financial and banking rules that are highly coordinated between the Ministry of Finance and the Central Bank of Iraq."
He added that "this has shown sustainable stability in the creditworthiness indicators of global rating agencies, since the adoption of the first credit rating for Iraq in 2016 until the present time."
https://www.mawazin.net/Details.aspx?jimare=253309
Dollar Exchange Rates Stabilize In Baghdad And Erbil
Thursday 15 August 2024 10:34 | Economic Number of readings: 175 Baghdad / NINA / The exchange rates of the US dollar stabilized, Thursday morning, in the markets of Baghdad and Erbil.
The price of the dollar stabilized with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 150,000 Iraqi dinars for every 100 dollars, which is the same price as yesterday, Wednesday.
The selling price stabilized in exchange shops in the local markets in Baghdad at 151,000 dinars, and the purchase price was 149,000 dinars, for every 100 dollars.
In Erbil, the dollar also stabilized in exchange shops at a selling price of 150,000 dinars and a purchase of 149,900 dinars for every 100 dollars. / End H To https://ninanews.com/Website/News/Details?key=1147871
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