Iraqi News Highlights Saturday Afternoon 4-15-23
Iraqi News Highlights Saturday Afternoon 4-15-23
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Deputy Governor Of The Central Bank: We Are Striving To Bridge The Gap Between The Official And Parallel Exchange Rates
Economy| 09:02 - 04/15/2023 Baghdad - Mawazine News, Deputy Governor of the Central Bank, Faisal Al-Haimus, said that the bank is striving to bridge the gap between the official and parallel price of dollar exchange, stressing that there are supervisory teams that visit banks to follow up sales of dollars and meet the demand for it and the need of the market and citizens.
Al-Haimus added, "Because there are inquiries about issues related to money laundering and other auditing entities, the period for releasing the electronic platform's funds to the beneficiary who owns the transfer is prolonged," stressing that "the US Federal Reserve does not work on auditing, but the Central Bank of Iraq is the last responsible for that through the auditing company." contractor with us.
Al-Haimus continued, in a televised interview, according to what was reported by the bank's media, that "there is a development in the Iraqi banking sector to achieve the goals of feasibility studies and an expansion of the correspondent bank network to provide service in different currencies such as the yuan or the euro, and there is also an agreement with banking institutions regarding yuan transfers."
The pause will not take a long period, and it is only days, and it will return to meet the requests after a simple pause, and there is a desire from discreet international banks to enter the Iraqi banking sector and work inside the country.
The Deputy Governor of the Central Bank indicated, "The bank is working to stop networks that issue cards with forged documents or deceased people, and use these cards to smuggle currency out of Iraq, which affects the Iraqi economy." https://www.mawazin.net/Details.aspx?jimare=224613
Central Bank Sales Exceed 800 Million Dollars In 5 Days
Economy News / Baghdad The total sales of the Central Bank of Iraq in hard currency to dollars during the past week amounted to more than 800 million dollars.
The correspondent of the agency / information / stated that the Central Bank sold during the past week, for the four days in which the auction was opened, the amount of 844 million and 627 thousand and 921 dollars, at a daily rate of 211 million, 156 thousand and 980 dollars, down by 5% from what was recorded the previous week in which it reached The sales rate is 222 million and 425 thousand and 512 dollars.
He added that the highest dollar sales during the past week were on Sunday, when sales amounted to 281,889,029 dollars, while the lowest sales were on Wednesday, when sales amounted to 157,564,543 dollars.
He pointed out that sales of foreign remittances amounted during the past week to 681,777,921 dollars, an increase of 76.11% compared to cash sales, which amounted to 162,850,000 dollars.
He explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards amounted to 1,305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1,310 dinars per dollar. https://economy-news.net/content.php?id=33575
Central Bank: Foreign Exchange Reserves Exceed $110 Billion
Economy| 11:26 - 04/15/2023 Baghdad - Mawazine News The Central Bank of Iraq announced, on Saturday, the size of foreign reserves, while indicating its endeavor to spare them from risks.
The assistant general manager of the investment department at the bank, Muhammad Yunus, told the official news agency, "The central bank's investments originate in the foreign reserves held by the bank," noting that "it is divided into a group of segments, including liquidity segments and investment segments."
Yunus added, "These reserves have now exceeded (110) billion dollars," noting that "most of them are invested in assets that are as close as possible to risk-free."
He continued, "We try as much as possible to enter into investments that achieve reasonable returns and avoid the risks that foreign reserves may be exposed to," stressing that "the returns on investments achieved are acceptable and achieve the goal for which the reserves were found."
https://www.mawazin.net/Details.aspx?jimare=224624
Alia Nassif: The Budget In Its Current Form Will Cut Off Corruption Mafias And End Political Blackmail
Saturday 15, April 2023 10:29 | political Number of readings: 310 Baghdad / NINA / - The representative of the State of Law coalition, Alia Nassif, confirmed that the financial budget in its current form, which includes the next three years, will ensure the sustainability of projects and end the annual political blackmail.
And she said in a statement today: "We see that the financial budget with this bold formulation includes goals related to the government program for the first time for the next three years and puts an end to the annual political extortion, and through it we will ensure sustainability in the implementation of projects and their independence because it gives stability to projects instead of fluctuation in implementation and waste of public money without realization." Results on the ground.”
Nassif indicated: "This budget will block the road to corruption mafias that are accustomed to draining public money through bargaining and extortion."/ https://ninanews.com/Website/News/Details?Key=1047224
Dollar Exchange Rates In The Local Market
Saturday 15, April 2023 11:21 | Economical Number of readings: 364
Baghdad / NINA / - Today, Saturday, the exchange rates of the dollar witnessed a slight increase in exchange shops in the local markets in all the country's governorates.
Where the selling price recorded 145,250 dinars per 100 dollars, while the purchase price reached 143,250 dinars per 100 dollars./ https://ninanews.com/Website/News/Details?key=1047232
Former Member Of Parliamentary Finance: Central Bank Decisions Regarding The Dollar Stopped The Exploitation Of Citizens By Speculators
Saturday 15, April 2023 09:52 | Economical Number of readings: 301 Baghdad / NINA / - Former member of the Parliamentary Finance Committee, Ahmed Hama Rashid, described the decisions of the Central Bank regarding the dollar as good decisions, stressing that they reflected positively on the local market.
Rashid said in a statement to the National Iraqi News Agency ( NINA ) that "the central bank's decisions that were taken to control the exchange rate of the dollar were good, as it gradually decreased to 145,000 dinars per hundred dollars, after it rose to 170,000 dinars a short while ago."
He pointed out that "the cabinet set the exchange rate of the dollar at 130 in the central bank and took punitive measures against violators. It also conducted inspection campaigns for banking offices in Baghdad to stop the exploitation of citizens by speculators at the dollar price, and all of them brought positive results for the price of the dinar."
Rashid stressed, "The decline in the exchange rate of the dollar and the return to its previous price contributes to the stability of the local market and prevents the exploitation of the simple citizen, indicating that the dollar in the future will be a bilateral currency after several currencies that will enter into foreign imports. Some countries seek to consider them as official currencies as an alternative to the dollar in their commercial dealings." https://ninanews.com/Website/News/Details?key=1047216
Fruitful Meetings Between Iraq With The International Monetary Fund And The World Bank
Finance Minister Taif Sami Muhammad affirmed that the government will continue its national and economic reform efforts.
A statement by the Ministry of Finance stated, "On the sidelines of the spring meetings of the International Monetary Fund and the World Bank, held in Washington, D.C., for the period from 10 to 16 April, the Iraqi delegation is holding a series of meetings with a number of international financial and monetary institutions."
He added, "The Minister of Finance, Taif Sami Muhammad, held a meeting with the Executive Director of the World Bank, Mansour Al-Shamali, in the presence of the Governor of the Central Bank, Ali Al-Alaq, and his accompanying delegation, and with the participation of the Director-General of the Public Debt Department and the Director-General of the Iraqi Fund for External Development," noting that "the meeting witnessed trading in opinions."
The economic and financial that the Iraqi government is working to achieve in accordance with the priorities of sustainable development, projects, water, climate, environment, transportation and social protection, in addition to strengthening the capabilities of the banking sector, applying automation, supporting small projects, advancing the reality of the private sector, and establishing development funds.
And the Minister of Finance indicated, according to the statement, that the Iraqi government will continue its national and economic reform efforts, adopting for this purpose a road map to achieve the goals of sustainable development and the gradual approach to financing development by maximizing revenues for the budget.
For his part, the representative of the World Bank expressed the bank's readiness to contribute to supporting the course of the government program.
In the meantime, Finance Minister Taif Sami Muhammad held a meeting with the representative of the International Monetary Fund, Jihad Azour, and the Director of the Fund Department for the Middle East, Tukhir, in the presence of the Director General of the Public Debt Department and the Director General of the Iraqi Fund for External Development.
The statement added that during the meeting, they discussed Iraq's relationship with the International Monetary Fund, and cooperation in the field of supporting financial policies and plans, in a way that contributes to achieving the stability of the Iraqi economy.
He continued, "The meeting also discussed the most prominent economic challenges and government measures taken to address them, in a way that guarantees the protection of the poor and vulnerable classes and provides them with protection, in addition to creating the conditions for holding a partnership program between Iraq and the IMF to contribute to strengthening the requirements of comprehensive development and reform of the Iraqi economy."
According to the statement, the fund's representatives expressed their willingness to provide all forms of support to accomplish the tasks of the government program in terms of capacity building, training of working cadres and technical contributions in a manner appropriate to the establishment of productive sectors that contribute to raising the rates of domestic product and achieving balance for the Iraqi economy.
The Minister of Finance also discussed supporting development and investment projects with the regional representative of the World Bank, on the sidelines of the spring meetings of the International Monetary Fund and the World Bank in Washington.
A statement by the Ministry of Finance stated that the meeting of the Iraqi delegation, headed by Minister of Finance Taif Sami Muhammad, with the regional representative of the World Bank, Farid Belhaj, and the executive team discussed efforts to support economic development and investment projects.
During the meeting, emphasis was placed on the continuation of bilateral coordination to promote sustainable development in the financial, economic, energy and investment sectors, and to accelerate the pace of reform of the banking sector in line with the vision of the Iraqi government aimed at achieving economic balance and correcting the course of financial policy in Iraq.
For his part, Belhaj pointed out the World Bank's readiness to continue serious and fruitful cooperation with the Iraqi government in everything related to financing development projects and fundamental reforms to strengthen the structure of the Iraqi economy.
Relationships Reveal A Program To Restructure Government Banks
Economy Friday, April 14, 2023 9:14 am Baghdad / National News Center Today, Friday, the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, revealed a program to restructure government banks.
The media office of the Central Bank stated, in a statement received by the National News Center, that “the Governor of the Central Bank, Ali Mohsen Ismail, stated, during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in the American capital, Washington, that the assets and assets of government banks constitute more than 80%. from the Iraqi banking sector.
He added, "The central bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund," stressing "the existence of harmony between the Iraqi government and the central bank in the process of reforming the banking sector."
And he continued: “There are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts,” adding that “all possibilities involving merger and acquisition exist, and that any formula that is useful we will study with the competent authorities and international organizations that have long experience and experience in this field.”
The statement indicated that "Al-Alaq held several bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC." https://nnciraq.com/199725/
Al-Alaq: A Program To Restructure Government Banks
Posted On2023-04-15 By Sotaliraq Yesterday, Friday, the Governor of the Central Bank, Ali Mohsen Ismail Al-Alaq, revealed the existence of a program to restructure government banks.
A bank statement stated that Al-Alaq made it clear, during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in Washington, DC, that “the assets and assets of government banks constitute more than 80 percent of the Iraqi banking sector.”
He added, "The central bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund," stressing "the existence of harmony between the Iraqi government and the central bank in the process of reforming the banking sector."
And he continued, “There are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have a problem in the final accounts,” adding that “all possibilities involving merger and acquisition exist, and that any formula that is useful we will study with the authorities specialized and international organizations that have long experience and experience in this field.
The statement indicated that "Al-Alaq held many bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in the American capital." Washington". LINK
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