Iraqi News Saturday AM 1-15-22
Iraqi News Saturday AM 1-15-22
TLM724 Administrator BondLady’s Corner
The Rise In The Exchange Rates Of The Dollar In Baghdad
Posted On 2022-01-15 By Sotaliraq The exchange rates of the US dollar rose against the Iraqi dinar, on Saturday, on the main stock exchange in the capital, Baghdad.
Shafak News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded this morning 148,200 Iraqi dinars, compared to 100 US dollars.
Last Thursday, prices recorded 148,100 Iraqi dinars, compared to 100 US dollars.
Our correspondent indicated that the buying and selling prices increased in the banking shops in the local markets in Baghdad, where the selling price amounted to 148,750 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,750 Iraqi dinars per 100 US dollars.
In Erbil, the capital of the Kurdistan Region, the dollar exchange does not trade on public holidays. LINK
Baghdad Sends 200 Billion Dinars To The Region To Finance The Salaries Of Employees
Posted On 2022-01-15 By Sotaliraq The head of the Kurdistan Regional Government's representation in Baghdad, Faris Issa, said on Saturday that the amount of 200 billion dinars allocated by the federal government to finance the monthly salaries of employees and workers in the private sector will arrive this week.
In a statement to reporters today, Issa said that the procedures for sending 200 billion dinars, which are the salaries for the month of December last year, have been completed, and this amount will arrive this week.
On Wednesday, the Kurdistan Regional Government announced the approval of the Federal Council of Ministers to send 200 billion dinars to finance salaries. LINK
Candidate For The Presidency Of The Republic: I Seek To Be The First Woman To Preside Over Iraq
political| 05:48 - 01/15/2022 Baghdad - Mawazine News The candidate for the presidency, Shelan Fouad, confirmed that her candidacy for the position was a precedent that occurred for the first time in Iraq, indicating that women, like men, can manage the state and occupy the highest positions in it.
Fouad said in a television interview, that she seeks to be the first independent woman representing the people to win the presidency of the Republic in Iraq.
Fouad indicated that she will communicate with the political blocs and parties to negotiate with them in order to support them in Parliament to win the presidency.
Regarding the fierce competition between the two largest Kurdish parties, the Kurdistan Democratic Party and the National Union Party, to win the presidency, Fouad said that she does not face any difficulty in her candidacy, and she is negotiating with the leaders of blocs and parties in this regard, and will announce in the next two days the details.
The candidate for the presidency explained that she was responsible for women's affairs in the Iraqi Ministry of Defense, and she took this step in order to establish the role of women in the presidency of the Republic of Iraq.
Fouad said that she owns a special project to confront the political, economic and social problems and crises facing Iraq, pointing to programs related to security, poverty and unemployment.
Fouad needs to get the votes of 220 members of parliament to win the position.
Shelan Fouad, an independent figure, has never worked in politics, and if she wins the position, she will be the first woman to win the presidency in Iraq, and the Arab countries as well. Ended 29 / h
https://www.mawazin.net/Details.aspx?jimare=181705
The Central Bank's Lending Initiative And The Interest Earned
Saturday 15 January 2022 186 Baghdad: Hussein Thaghb A specialized dialogue session discussed the tracks of the Central Bank’s lending initiative and what has been achieved on the ground, the challenges facing lenders and borrowers, and how lending mechanisms can be facilitated, to include all regions of the country without exception, although this depends on the extent of the spread of the network of banks in cities and towns, at a time The initiative amounts to 15 trillion dinars.
The session, organized by the Association of Private Banks and sponsored by the Central Bank of Iraq and a group of experts, stressed the importance of expanding the initiative to include the largest number of young people who have ideas for future projects, which represent an important axis in the development process that the country seeks.
Clean Energy
The Executive Director of the Association, Ali Tariq, said: “Providing liquidity to finance projects is not an easy matter, and from here the Central Initiative was launched to support small and medium enterprises in all regions of Iraq, without exception, and according to the banking presence in those regions,” noting that “loans are now being offered.” for clean energy projects, in line with global trends in moving towards non-fossil fuels.
Labor Market
Deputy Governor of the Central Bank, Dr. Ammar Khalaf, said: “The central bank’s combined initiatives have touched 15 trillion dinars, of which it has been granted, and others are on the way to lending,” noting that “the initiative goes back to the idea of Dr. The appearance of Muhammad Salih, who presented it several years ago in order to stimulate the national labor market and the national economy.”
Overcome Difficulties
Khalaf indicated that «the Central Bank seeks to overcome the difficulties facing borrowers, in order for the initiative’s funds to reach the largest segment of the population. Young".
Khalaf stressed that «the Central Bank launched the initiative in order to provide financial liquidity to finance small projects, increase financial inclusion and reduce the high costs of lending, as well as to address the unemployment rate, as well as the exposure of the Iraqi economy to stagnation after the events of the year. 2014».
Total Credit
Regarding the contributions of the initiative, Khalaf stated that it constitutes 30% of the total credit granted to the private sector, and the initiative contributes 8% of the gross domestic product, as well as 17% of the total private sector deposits, and it constitutes 18.4% of the total actual investment spending for the period Between 2016-2021, he pointed out that the interest rate for the initiative’s loans is 3.8%, compared to 11.5% when it comes from the banks’ own funds.
He pointed out that “the amounts granted by sectors amount to 28% in the commercial sector, 5% in personal loans, and loans to the service sector amounting to 28%.
22%, in addition to 15% for the industrial sector, and the housing sector received the largest percentage of 29%, as for the agricultural sector, its poor loans amounted to 1%.
Smart Initiative
Financial Adviser to the Prime Minister Dr. Mazhar Muhammad Salih described the Central Bank's initiative as smart and said: "The initiative was in line with global developments, and the largest mass of the initiative's amount was directed towards the housing sector, due to the great demand for housing units by the citizen, to reduce the population pressure experienced by the country."
And Saleh indicated that "monetary policy has now shifted to the side of assets, at a time when the whole world is supporting its assets."
Banking advisor Samir Al-Nusairi called for greater facilities for the initiative loans adopted by the Central Bank, and not to restrict controls, noting that “the banking system represents the first link in the economy and stimulates its joints, so the idea of the lending initiative was adopted.”
Authentic Commitment
Director General of the Insurance Bureau, Israa Saleh, indicated that “the insurance sector represents a real support for all economic sectors and covers risks for loans, and thus is an effective supporter of the development process that the country seeks, especially since insurance risks differ from the citizen from the investor.”
She stressed that "insurance companies have a genuine obligation to pay the remainder of the loans and differ from the commitment of the guarantor."
The representative of the Federation of Chambers of Commerce, Maitham al-Bolani, indicated that the lack of demand for industrial loans is due to the lack of competition, and the ease of doing business in Iraq is declining instead of progressing, as well as the complexity of investment transactions, which sometimes need two years, and here the government is required to facilitate these procedures. . LINK
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