Iraqi News Highlights Friday Morning 8-11-23
Iraqi News Highlights Friday Morning 8-11-23
Tlm724 Administrator Bondlady’s Corner
Sudanese Adviser: Iraq Did Not Actually Come Out Of The Seventh Item, And This Is The One Who Controls The Dollar
Sumerian special 2023-08-08 | Source: Alsumaria News 9,246 views The technical advisor of Prime Minister Mohamed Sahib Al -Daraji confirmed today, Tuesday, that Iraq has not actually left under the seventh item, indicating that the Federal Bank controls the dollar.
Al -Daraji said in an interview with a program in the retirement broadcast by the Alsumaria satellite channel, that "the dollar file is old and its connection with the approval of the Federal Bank on transfers and Iraq that came out of the seventh item but not actually," explaining that the dollar file requires the control of the central bank and banks did not practice in the process of transferring the dollar, What gave the American federal to pressure through political extortion, and I personally filed a lawsuit to pass the money abroad, and this prompted the government to take measures that affected the Iraqi economy.
He added: "The banking system is incompetent and bank owners seek a quick profit without taking into account the general economy of the country," stressing that "retailers do not deal with the platform in order to escape the routine and commissions, which led to the exit of the dollar through the cashier and not the banks through incorrect documents and bills, which led To smuggle the dollar abroad."
Al -Daraji pointed out that "the central bank did not control the process of converting bills and accurate them with the electronic platform and there is a significant height in the forged bills", noting that
"there is a problem in the reality of the money that is published on the platform and is awaiting the approval of the federal to transfer it and wait for the foreign audit company, which leads to the delay in the completion of Dollar transactions and transfers for merchants.
He stressed that "the defect is not in the person of the central bank governor, but rather in the banking system that needs a bold official and thinks outside the fund, although this will expose him to the question." And Al -Darraji said that "my presence in Mosul does not mean anything except that Mosul is an Iraqi, which is a disaster province and needs to be reconstructed and saved through coordination between ministries, governorates, grants and loans to distribute them in Shell Adel and create societal peace and ages for all its regions."
He stressed that "there are parties responsible for auditing and supervising, and it is not my responsibility to be the head of a high committee for the reconstruction of Nineveh in cooperation with the governor and other parties and our mission is to implement government decisions."
The Prime Minister’s Adviser indicated that “the most important projects are roads, bridges, archaeological and tourism sites and their reconstruction occupies importance and not neglecting schools and universities and delivering water to the districts and aspects and stimulating the industry through the establishment of two industrial cities and re-dealing with dollars in the province, the most important of which is the work of banking cards for Mosul and this will achieve societal peace.”
He pointed out that "the new City of Sadr will be after the Tariq neighborhood to the laboratory area and we are currently dealing with abuses and it is expected that the designs will be completed within two months, which will be direct."
Al -Daraji said that "the goal of the new city is to reduce population pressure in Baghdad through the vertical construction and integrated services," explaining that "this project is not investment because the state is the one who will pay the first batch for the first ten thousand housing units."
He pointed out that "trade destroys the economy and the industry is the one who adopts the economy and there is an effort by the government to localize the industries in the country despite the pressure of the interior and the external," stressing that "Iraq will not collapse as Lebanon because Iraq has resources and capabilities that do not exist in Lebanon and what is happening in Lebanon is Fraud and fraud.
Al -Darraji stressed that "the scenario of previous years will not be repeated in Iraq and it is shameful to be said in Iraq now that the government is unable to pay the salaries of employees," stressing that "Iraq needs a legal foreign policy that can come out of Iraq from under the tutelage of the American federal."
Al -Daraji indicated that "the Americans should be aware that there is a new generation in Iraq if America continues to approach the fighting of the economy, they will be enemies again if they do not change their policy."
And that "the movements of the US ambassador prompted the Sudanese to prevent the interviews of the ambassadors except with the existence of the Ministry of Foreign Affairs," explaining that
"Iraq is late in the regional and international role, which prompted the employees of the American embassy to take provocative positions towards Iraq." He pointed out that
"the provincial councils are constitutional, and despite that, I see that the decision to freeze them from Parliament was right and I was hoping that the constitution would be modified and that the councils would be canceled because they would return five years back because of the quotas and the services would be disrupted."
Al -Daraji concluded that "fighting corruption takes place across three arms, namely the government, the judiciary and society, and this will be able to fight and eliminate corruption."
The Dollar Crisis In Iraq.. Learn About The Dangers Of The Parallel Market On The Dinar
Economy 2023-08-10 | Source: Alsumaria News 6,262 views Alsumaria News - Economics Today, Thursday, August 10, 2023, economist Nabil Al-Marsoumi revealed the dangers of the parallel market on the Iraqi dinar, at a time when the central Al-Kifah and Al-Harithiya stock exchanges in the capital, Baghdad, recorded an exchange rate of 152,000 Iraqi dinars against 100 US dollars.
Al-Marsoumi said in a post titled "The Risks of the Parallel Market," followed by Alsumaria News, that "the widening gap between the official and parallel prices of the dollar against the dinar
weakens confidence in the Iraqi dinar, reduces incentives to deposit money in Iraqi banks, and
pushes savers to exchange the Iraqi dinar for dollars and gold, or by investing in the purchase of land."
And real estate leads to a rise in prices and a decrease in the real value or the purchasing power of the dinar.
Today, the two central stock exchanges of Al-Kifah and Al-Harithiya in Baghdad recorded an exchange rate of 152,000 Iraqi dinars for 100 US dollars.
As for the dollar prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 153,000 dinars, while the purchase price reached 151,000 dinars for every 100 dollars..
And the Central Bank of Iraq decided, earlier, to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of purchasing a dollar from the Ministry of Finance reached 1,300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and sold at (1320) dinars per dollar. Dollars from banks and non-bank financial institutions to the final beneficiary.
https://www.alsumaria.tv/news/economy/464286/أزمة-الدولار-في-العراق-تعرف-على-مخاطر-السوق-المواز
Document .. The Central Bank Of Iraq Issues Four Strict Directives To Exchange Companies Regarding The Sale Of The Dollar
Economy breaking Central Bank of Iraq 2023-08-09 Shafaq News/ The Central Bank of Iraq issued, on Wednesday, four strict directives to exchange companies regarding selling dollars to travelers.
The bank said in an official letter addressed to exchange companies under the categories (A, B), obtained by Shafaq News Agency, that "based on the bank's oversight and supervisory role, and for the purpose of controlling cash sales of dollars to travelers through the electronic platform (FITR), we call upon your companies Commitment to carrying out cash dollar sales in accordance with the instructions and controls in force, strictly adhering to their requirements, and using them for the specified purpose exclusively, and for eligible persons after verifying their original documents, and failure to comply with what was mentioned will result in imposing a penalty for depriving the violating company of the dollar, and it may reach withdrawing the company’s license".
He added, "The Central Bank keeps the sequences of banknotes that companies receive through banks, and therefore finding them with speculators and unlicensed people holds the company that leaked them responsible for that, and commits them to a serious violation that may be punished by withdrawing the company's license, as well as judicial procedures."
And he continued, "The non-merged companies have been given long and sufficient deadlines, and the date of 12/31/2023 will be the last date for submitting merger applications, and the allocation of companies' shares from cash dollars after this date will be contingent on achieving the merger." And the bank concluded,
“Starting from the date of 8/8/2023, the company’s entry to the window for buying and selling foreign currency will be suspended in the event that (3) complaints are received against it from citizens, which prove their validity, until it submits a mechanism or program to control the sale duly approved by this bank.”
And in the event of a repeat of the violation, this bank will permanently prevent the company from entering the foreign currency buying and selling window.
https://media.shafaq.com/media/arcella/1691588898458.jpg
Development Fund.. A Step For Economic Advancement And Investment Revival
Economical 2023/08/10 Baghdad: Haider Fleeh Al-Rubaie Specialists in economic affairs praised the government’s approach to establishing the “Development Fund for Iraq,” stressing the importance of the step in achieving a package of achievements,
including allowing various forms of financing partnerships such as loans, international grants, and allocations from the general budget, or issuing financing bonds and local and international partnerships with the private sector.
And while they indicated that the fund would develop and diversify non-oil resources,
they pointed out that the development path project would be the real nucleus of the work of the Iraq Fund.
The Prime Minister, Muhammad Shia'a al-Sudani, revealed that "the cabinet approved the system of the Iraq Fund for Development, and we are working to form a board of directors, and we have received offers from Arab and foreign investment funds to participate in the fund, as well as we have received requests from the private sector to implement projects within the Iraq Fund for Development."
The fund can achieve many economic and development goals, foremost of which is the possibility of improving the investment environment, launching sustainable development, finding solutions to economic, social and environmental crises, as well as creating a qualitative change in the adoption of technology and modern systems in management, as well as its ability to finance projects that address gaps in the powers of ministries..
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The fund can also create job opportunities through investment projects, develop human capital and skills to match market requirements, in addition to its ability to attract the financial mass of the private sector and employ it in projects.
In addition to the many economic advantages that the fund can achieve, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, believes during his interview with "Al-Sabah" that
"the Iraq Fund is one of the strategic methods for investing in major development projects across the provinces and has the ability to provide backlinks."
and frontally with production chains and other investments in a correlative manner.
Saleh explained that the fund is characterized by providing two important directions, which are the
sustainability of financing throughout the life of the implementation of the strategic project without stumbling, which means high implementation efficiency through a network of interconnected investments, as well as
allowing various forms of financing partnerships such as loans, international grants, allocations from the general budget, or the issuance of financing bonds. Or local or international partnerships with the private sector, depending on the nature of the project and its internal and external extensions.
The financial advisor believes that the "Development Road Project" will be the true nucleus of the work of the Iraq Fund and its associated networks of industrial cities, infrastructure, etc., as well as the possibility of this new economic formation becoming the planning, financing, and executive investment arm, whether independently of the government or through strategic partnerships. with the private sector.
Counselor Saleh suggested, "Creating an effective management description for the fund that has three pillars at once, the first of which is economic and engineering planning for the strategic projects that the fund will undertake to approve, and the second is the establishment of an administrative and engineering technical apparatus that undertakes follow-up on the implementation of projects upon their approval and monitors completion rates, accuracy of implementation, and control of exchange, in When the
third pillar is concerned with financing management and the flow of incoming and outgoing sources of funds, meaning the accuracy of spending on projects.
In addition, the economist, Dr. Hussein Jaber Al-Khakani, confirmed to Al-Sabah that “the establishment of a development fund is an important direction and sound thinking and the adoption of scientific solutions in the face of crises, and that
seriousness and readiness for speedy implementation and the use of successful experiences of countries in this field represent a successful step.” And a good starting point for the government in its early works.
In order for the Fund to succeed, Al-Khakani urged that it “be independent financially and administratively and not be under the umbrella of any ministry,
but rather be linked to the Prime Minister or the Council of Ministers, in order for it to have freedom of movement in implementing government policy and the activities for which it was established,” stressing at the same time,
He stressed the importance of the fund working "in a private sector way in management, employment, investment and contracting with experts and consultants with the specializations it needs to enable it to perform its work in the best way." https://alsabaah-iq.translate.goog/82112-.html
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