Iraqi News Highlights Monday Evening 1-23-23
Iraqi News Highlights Monday Evening 1-23-23
Tlm724 Administrator Bondlady’s Corner
Opening A New Window For Selling Foreign Currency To Fix The Exchange Rate
Iraq Today, Sunday, Prime Minister Muhammad Shia al-Sudani chaired a meeting with the Federation of Iraqi Chambers of Commerce, which was devoted to discussing the causes of exchange rate fluctuations of foreign currency in the Iraqi market and its impact on citizens, and to develop decisive solutions in this regard. The meeting was attended, according to a statement by the media office of the Prime Minister, the governor of the Central Bank of Iraq, and the general managers of border crossings, tax, customs, and trade fairs.
And based on the directives of the Prime Minister, and what was presented at the meeting, several decisions were taken in the course of stabilizing the exchange rate, preventing manipulation, and limiting damage to the national economy, most notably:
1- Opening a new window for selling foreign currency to small traders through the Trade Bank of Iraq (Trade Bank). TBI).
2- Financing the Central Bank of the Trade Bank of Iraq (TBI) with an additional amount of $500 million for the purpose of opening documentary credits for small merchants, and being satisfied with the initial invoice and the account number of the last beneficiary of the credit.
3- Launching the import of goods and merchandise for companies registered with the Companies Registration Department at the Federal Ministry of Trade of all types of companies and factories registered with the General Directorate of Industrial Development and investment projects of all kinds duly licensed by investment commissions, scientific offices duly registered, individuals and offices registered with the Iraqi Chambers of Commerce (included with the condition import license or not included).
4- Facilitating import procedures, reducing the requirements for opening documentary credits, and canceling the notification of the General Authority for Taxes to impose delay fines on importers and the rest of those charged with the General Authority for Taxes.
5- Involving the Chambers of Commerce and the Federation of Industries in the sessions of the Ministerial Council for the Economy, representing the private sector.
6- This meeting is held on a weekly basis, following up on developments, implementation of decisions, and adding the aforementioned bodies to attend the meeting.
7- Adding the Real Estate Registration Department to this meeting, as well as the Registrar of Companies, Industrial Development, the Investment Authority, and the Rafidain and Rasheed Banks.
During the meeting, the Prime Minister stated that the responsibility to face fluctuations in the local market is a shared responsibility, with an ethical and patriotic dimension, and everyone must respond to it, whether in the private or public sector.
Within the framework of Al-Sudani's directives to reduce the financial, administrative and routine burdens on citizens, the Prime Minister stressed the need to review the work of the General Tax Authority, and that its work be in accordance with the standards of integrity and the law, and stressed that the government will not tolerate any harm that the citizen may be a victim of.
Al-Sudani expressed the seriousness of government agencies in carrying out economic reforms and addressing the deterioration and regression caused by wrong decisions in previous years.
Sanad Reveals The Real Reason For The Decline In The Price Of The Dollar: A Temporary Effect
Political | 05:42 - 01/23/2023 Baghdad - Mawazine News, a member of the Finance Committee, Mustafa Jabbar Sanad, revealed the reason for the decline in the exchange rate of the dollar in the local markets.
Sanad said in a tweet on Twitter, "The monopolists of the dollar began to offer what they had in the market, which caused a slight decrease in prices, for fear of a greater collapse in prices."
He added, "Therefore, we are waiting for the real procedural measures that can return the parallel market prices to the closest point to the official price, because the effect of rumors is temporary." Ended 29 / H https://www.mawazin.net/Details.aspx?jimare=217360
Sanad Reveals The Real Reason For The Decline In The Price Of The Dollar: A Temporary Effect
Political | 05:42 - 01/23/2023 Baghdad - Mawazine News, a member of the Finance Committee, Mustafa Jabbar Sanad, revealed the reason for the decline in the exchange rate of the dollar in the local markets.
Sanad said in a tweet on Twitter, "The monopolists of the dollar began to offer what they had in the market, which caused a slight decrease in prices, for fear of a greater collapse in prices."
He added, "Therefore, we are waiting for the real procedural measures that can return the parallel market prices to the closest point to the official price, because the effect of rumors is temporary." Ended 29 / H https://www.mawazin.net/Details.aspx?jimare=217360
Al-Maliki Comments On Changing The Governor Of The Central Bank
Political | 05:21 - 01/23/2023 Baghdad - Mawazine News, the head of the State of Law coalition, Nuri al-Maliki, commented, on Monday, on the change of the governor of the Central Bank.
A statement from Al-Maliki's office, which Mawazine News received a copy of, stated that "the latter received in his office today the Ambassador of the Republic of Italy to Iraq, Maurizio Cricanti. At the beginning of the meeting, they discussed the future of bilateral relations between the two friendly countries, and developments in the political and security situation in the region and the world were also discussed."
Al-Maliki stressed, according to the statement, "the importance of increasing aspects of cooperation and coordination between Iraq and Italy in all issues of common interest," expressing "his hope that Italy would deal with Iraq directly, away from any other addresses."
He explained, "The new government possesses strengths and has qualifications for success despite the challenges it faces and the heavy legacy left by the previous government," noting that "the changes taken by the government today represent a step in the context of overcoming the crisis of raising the exchange rate, despite the presence of political parties trying to It invests and exploits crises to employ it politically.”
In turn, Ambassador Krikanti congratulated Nuri al-Maliki on forming the government, expressing his appreciation for Iraq and his leadership's keenness to consolidate relations with Italy, inviting al-Maliki to visit Rome as soon as possible. https://www.mawazin.net/Details.aspx?jimare=217357
Two Deputies In The Parliament Of The Kurdistan Region: Four Banks In The Region Are Involved In Smuggling Currency Out Of Iraq
Monday 23 January 2023 13:07 | Economical Number of readings: 309 Baghdad / NINA / - Two deputies in the parliament of the Kurdistan region confirmed the existence of smuggled funds from Iraq, with a value that amounted to more than 87 billion dollars, over 6 years, while they indicated the involvement of 4 banks inside the region.
Representatives Soran Omar and Ali Hama Salih said, in a joint statement: "Over the past six years, 78 billion dollars were sent from 48 banks without registering the names of those who smuggled dollars out of Iraq, and four of these banks are in the Kurdistan region."
The statement added that "in the years (2009 - 2010 - 2011 - 2012 - 2013 - 2014), about 128 thousand and 165 transfers were transferred outside Iraq in the amount of (209 billion and 999 million dollars), of which 19 thousand and 93 transfers were not known to anyone around them." From Iraq in the amount of 78 billion and 583 million dollars.
He continued, "10 billion and 781 million dollars were transferred through four banks in the Kurdistan region." Erbil Bank 3 billion and 619 million dollars. North Bank 3 billion and 916 million dollars.
Kurdistan Bank one billion and 961 million dollars. Ceyhan Bank 1.283 billion dollars.
https://ninanews.com/Website/News/Details?key=1028579
International Finance Corporation: The Banking Performance Report Helps To Evaluate The Work Of Iraqi Financial Institutions
Monday 23 January 2023 11:55 | Economical Number of readings: 244
Baghdad / NINA / Today, Monday, in the capital, Baghdad, it was announced that the results of the first report of the scorecard for environmental, social and corporate governance (ESG) standards for the Iraqi banking sector were launched, in cooperation and coordination with International Finance Corporation (IFC) experts, and in the presence of government officials and representatives of the Central Bank of Iraq. and representatives of the relevant financial and banking institutions.
Marie Porter Peska, Director of the Sustainability and Gender Solutions Department at the International Finance Corporation, said, "The Banking Scorecard Report for Environmental, Social and Governance Standards - which is the first of its kind for Iraq - presents an important analysis of environmental, social and institutional governance risks across the country's banking sector." It helps Iraqi financial institutions to measure their performance and their commitment to those standards.
She added, "Preparing strong reports on environment, society and governance is essential to creating a sustainable financial sector. The launch of the report demonstrates Iraq's commitment to environmental, social and governance measures."
In turn, Dutch Ambassador Hans Sande stressed, "The importance of Iraq moving towards a new stage of banking development and application Transparency and activation of the risk management system in line with the conditions surrounding Iraq. https://ninanews.com/Website/News/Details?key=1028558
Association Of Iraqi Private Banks To / NINA /: The Results Of The "Scorecard" Will Be Positive For Banks For The Next Stage
Monday 23 January 2023 15:43 | Economical Number of readings: 237
Baghdad / NINA / - The Executive Director of the Association of Iraqi Private Banks, Ali Tariq Mustafa, confirmed: "The results of the scorecard report for the banking sector is a joint positive work that was carried out in cooperation between the Central Bank of Iraq and the International Finance Corporation, and it is related to a wide segment of the banking sector institutions."
He said in a statement to the National Iraqi News Agency / NINA /: "This process is the basis for future building in developing the capabilities of the banking sector, leading to the role of the Iraqi Private Banks Association, in cooperation with the Institute of Governance, in building solid training programs for the banking sector and developing its capabilities through the scorecard and governance." Institutional, which is that there should be efficient boards of directors in the banking sector to protect the work of banks, and its effects will be positive on the results of the work of banks for the next stage.
And it was announced in the capital, Baghdad, today, Monday, the launch of the results of the first report of the environmental, social and corporate governance (ESG) scorecard for the Iraqi banking sector, in the presence of government officials, representatives of the Central Bank and representatives of relevant financial and banking institutions, in cooperation and coordination with the experts of the International Finance Corporation (IFC). https://ninanews.com/Website/News/Details?Key=1028636
Falling Oil Prices In World Markets
Economie| 08:53 - 01/23/2023 Follow-up - Mawazine News
Oil prices fell today, Monday, January 23, at the beginning of limited trading due to the Lunar New Year holiday in East Asia, but they maintained most of the gains they made last week on the back of the possibility of an economic recovery in China, the largest oil importer, this year. general.
Brent crude futures fell 46 cents, or 0.5%, to $87.17, while US West Texas Intermediate crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel. Last week, Brent rose 2.8%, while US crude rose 1.8%.
https://www.mawazin.net/Details.aspx?jimare=217298
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