Iraqi News Early Sunday AM 10-3-21
Iraqi News Early Sunday AM 10-3-21
TLM724 Administrator BondLady’s Corner
Al Mahatta Foundation Concludes The Work Of The Hackathon Program, Which Seeks To Advance Financial Technology And Electronic Payment
Economy News _ Baghdad Yesterday, Friday, the work of the "Hackathon" program, which seeks to advance financial technology and electronic payment, was concluded on the Hall of the Mahatta Foundation for Entrepreneurship in Baghdad.
The "Hackathon" program seeks to advance financial technology and electronic payment, and after selecting more than 20 professional business developers and selecting them according to their software capabilities and knowledge of banking systems, they were invited to participate in the program.
The hackathon was funded by the French Foreign Ministry (CDCS) and the European Union, and implemented by Expertise France in Iraq in partnership with the station, and also in cooperation with the Central Bank of Iraq, Amwal for electronic payment services and Zain Cash.
The participants presented the solutions they found, which is concerned with developing an algorithm to correctly distribute ATMs according to momentum, in order to determine the appropriate places to place them, using the machine learning method. Views 169 Date added 02/10/2021
Two experts in the economy: new central bank bonds borrow another type
Economy Breaking Central Bank of Iraq Financial bonds Internal loans
2021-09-30 02:19 Two experts in the economy, said that the goal of the latest Central Bank of Iraq on issuing new financial bonds is to reduce the rise in cash inflation in the country.
The Central Bank of Iraq announced last Sunday, issuing new bonds with two Malten categories.
The bank stated in a statement and responded to the Agency News; "Continuing to the role of the Central Bank of Iraq in the development of the local financial market and the mobilization of savings, the central bank subtracted the first ingredient of two categories
(500,000) dinars (500,000 dinars) an annual interest (6%) for two years, and
(1,000,000) dinars (Million dinars) an annual interest (7%) for four years."
The Central Bank confirmed; "The purchase of these bonds will be through the banks, which receive purchasing requests from wishing to do so and receive a delivery of the purchase of these bonds, as it is issued by the central bank and recognizes the banks within a short period."
Other loans
The economic expert, Ahmed Saddam, says that "bonds are a kind of loans, but vary where loans or a support of the central bank to the public are declines, an important monetary policy used by many countries of the world, is one of the important tools of the central bank tools Control for cash."
Saddam reminds the Agency of Twilight News; "The objectives of these bonds by the central bank at this time are specifically financing and reducing cash as a result of high level of inflation, where the central bank raises these bonds for the purpose of reducing individual purchasing power,
and at the same time there is a capacity by the central bank on Lending some investment parties and have adequate liquidity to approve some projects, to move these funds in homes and from individual pockets and direct them in an investment."
Saddam, "in Iraq there is a confident confidence or part of the country, the central bank and banks on the other) and representatives of these bonds that are issued between the time and the other, if we assume the exchange rate of the Iraqi currency, He also happened in the past, we will be an obsessed with the citizen or by the owner of the Sindh if the exchange rate is reduced, which is unexpected, we will be a significant loss to the owner of the bond."
"The lack of understanding between buyers and decision owners will pay much to not go to such decisions to buy these bonds, as the matter needs explicit guarantees in this regard."
Internal Borrowing
Member of the Iraqi Council of Representatives, Ammar al-Taima, issued a statement on the issue of these bonds to the public, announced his rejection of the Central Bank's decision to issue bonds (an internal borrowing) to address the industry and justification for this decision in accordance with the data.
"Such a resolution can listen to him the prices of oil selling without (thirty a barrel), while oil prices rise to nearly 80s, there is no acceptable or justifications or justifications The efficiency of the collection of outlets and from all governorates of Iraq, including the region, will provide at least (ten trillion dinars) at least, which is confirmed by the Ministry of Finance in an earlier official statements."
Continue, "firm control measures on a currency auction will provide at least at least (four trillion dinars).
Unsubsible profits for parasitic banks are giving indicators on the return of their ownership or subscribed to their ownership, but the figures indicate that the profits of the witness Banks days after a jump at the exchange rate end of 2020 in two months only reached more than (1,3) trillion dinars."
He noted that "pressure unnecessary expenditures and relying on actual expenses for past years will confirm the need for the nation of the State to be accompanied by internal or external borrowing.
Plan for 2021 (130) trillion dinars are far from realistic need for actual expenditure, which requires a pressure of many expenditures disappearing in a general violation of a general exercise that makes control of expenditure and truth.
He pointed to the "Cancellation of unfair federal licensing contracts as well as foreign oils with foreign companies adopted and replacing partnership contracts and replacing them in a useful national form.) Of oil produced in the region goes foreign companies."
It was called for "Review of Mobile Contracts, as official documents indicate that phenomenon revenue in the data of those companies for 2013, for example, 4.2 trillion dinars for two companies only from the total three companies, and according to the three companies, the total mobile service revenues are not less than About (6) trillion dinars."
Government agent
Turn; The economic expert, Abdulrahman al-Mashhadani, how to issue bonds in Iraq, stressing that there are two parties within the country (first government and the second central bank can be agent for the government for the purpose of issuing bonds), but now in these bonds, The bank is one of these bonds and not agent for the government.
The scenery spoke to the Agency of Twilight News; "The Government is when either indoor or external bonds, aim is to finance deficit in the general budget or financing some important projects, which has happened over the past years and another year and has been to finance the general budget deficit and the government has not been successful."
He adds that "the Central Bank when he issued bonds, there are cash objectives other than the government's goals and the last central bank's step, after several loans to the government and residential initiatives provided to citizens,
and all these steps confirm that the central bank pump new currency in the market worth more than 30 Iraqi trillion, because the monetary offer rose from 64 trillion to 94 trillion dinars in the market, which led to high inflation rates in the country, through the indicators of the Ministry of Planning that inflation rose in the country at 14%.
"The central bank has issued these bonds to one goal of control, because 70 to 77% of the central bank currency goes to the market and do not return as deposits in banks, and therefore be locked in the pockets of citizens and ties in their homes," the central bank.
That "There is a mixing of the central bank and conducting the government in terms of issuing bonds, and therefore some political blocs believe that this procedure is incorrect and it is released at a time when the price of oil may be $30 and less, but this is not issued by the government, but it is aimed at control To inflation in the country, as it is not as she saved for some small banks in the country."
https://shafaq.com/ar/اقتصـاد/خبيران-في-الاقتصاد-سندات-البنك-المركزي-الجديدة-اقتراض-من-نوع-خر
Agriculture Announces Details Of Its Plan For The Palm Sector
Money and business Economy News _ Baghdad Today, Saturday, the Ministry of Agriculture announced the start of exporting Iraqi dates to various countries of the world, and while it announced the details of its plan for the palm sector, it expected to achieve the highest level of date production during 2021 by one million tons.
The ministry's spokesman, Hamid Al-Nayef, said in an interview with the Iraqi News Agency and followed by "Al-Iqtisad News", that "the Ministry of Agriculture's plan for palm includes rehabilitating this sector by distributing seedlings of date palms, whether they are regular or textile ones, and preparing them for citizens, farmers, universities and schools in general, at prices supported by the In order to increase the number of palm trees and increase their production and cultivation on a large scale.
Al-Nayef added that "the plan also includes creating a suitable environment for citizens by planting green spaces in the streets and cities," noting that "this measure is a clear expansion of the date palm cultivation process in all of Iraq."
And he indicated that "the ministry has ready-made seedlings in the Department of Horticulture, one of the formations of the Ministry of Agriculture, and directed the Minister of Agriculture to give these seedlings to all the groups mentioned at a subsidized price in order to encourage the palm sector,"
expressing his hope that "a financial fund will be formed to support the palm sector to support every citizen." palm trees are planted."
He stressed that "the presence of a financial fund is an important measure, but financial matters prevent this," stressing "the need to pay attention to the palm sector because the Iraqi palm is the advantage and identity of Iraq."
Regarding the export of dates, Al-Nayef said: "The ministry, starting this month, opened exporting abroad because dates are desirable abroad and their prices are fantastic," stressing that "the ministry manufactured and exported dates with distinctive Iraqi brands."
He pointed out that "this step will generate money for the state and maximize its revenues, in addition to employing millions of workers," noting that "the ministry has started exporting in full swing and has prepared all the logistical, moral and supportive matters for all investors and exporters of dates through fumigation and fumigation of dates and issuing export certificates to be window to all countries of the world.
He stressed that "many dates have been seized by countries through Iraqi traders in Egypt, including the Netherlands and Italy, because Iraqi dates are desirable, especially the ascetic variety that is included in all food industries."
Al-Naif expected that "this year will witness the highest level of production of dates after the volume of production increased in 2019 to (650 thousand tons), and in 2020 to (735,000 tons)," stressing that
"the ministry is optimistic about increasing production this year by 30%. Until we reach one million tons, which is a great achievement for Iraq for maximizing revenues, raising the national income rate and being an important section of export operations.
He pointed out that "the ministry sent invitations to farmers and farmers within (contracts 35) to plant 5 dunums in each plot in exchange for the cultivated area to be theirs after 5 years," noting that
"this measure is encouraging to achieve an increase in the palm sector, as well as inviting investors to invest. in the palm sector.
He added that "many orchards have now been invested and started to produce, which has increased the volume of production compared to previous years."
Regarding afforestation, Al-Nayef stressed that “the ministry needs 14 billion trees to be planted, which needs a special program, and the program in turn needs money, which comes through concerted efforts of the state,”
calling for “work on this program and the use of licensing rounds and giving Investment companies have a percentage until they are encouraged and to ensure the expansion of the palm sector.
He warned, "The ministry is currently relying on the offshoots it has without importing them from abroad for fear of diseases, especially the palm weevil," noting that "the ministry is counting on the palm rehabilitation program to bring this important sector Iraq back to the forefront of the countries exporting and producing dates globally." Views 209 Date Added 02/10/2021 https://economy-news.net/content.php?id=26484
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