Iraqi News Thursday AM 6-30-22
Iraqi News Thursday AM 6-30-22
TLM724 Administrator BondLady’s Corner
Fearful: The Central Bank Has Embarked On A Package Of Measures To Save The Economy From A Certain Abyss
Economie Today, 21:01 Today, Wednesday, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, announced that the bank has started a package of measures to save the economy from a certain abyss, indicating that one of the bank’s priorities is to enhance financial inclusion and secure access to financial and banking services to the community.
In his speech during the “Access to Finance” conference, which was held at the Al-Rasheed Hotel, with the participation of the public and private sectors, and was followed by the Iraqi News Agency (INA), he said,
“The Central Bank of Iraq has embarked on a package of measures to save the economy and economic institutions from a certain abyss, after they prevailed A state of despair and panic among those dealing in the economy, and those dealing with state institutions, after the reluctance that occurred in fulfilling its obligations with them. He added,
"The Central Bank made access to financing possible when it launched a number of qualitative and courageous initiatives that enabled our society to feel safe through our initiatives that covered different and important sectors," noting that
"the Bank is not kind to these procedures and initiatives, and finds itself only in Where it should be." He stressed that
"the goal of enhancing financial inclusion, and securing access to financial and banking services to the community, was one of our priorities that we are working on with short, medium and long-term plans," noting that
"access to finance is no longer a dream intertwined with the hands of red tape, corrupt and closed-minded people, but rather has become a national path in The work of the banking sector and microfinance institutions, and defending it has become a priority for the Central Bank and the banking sector alike.” https://www.ina.iq/159694--.html
The Delegation Of The Central Bank Of Iraq Participates In The Activities Of The Modern Technology Exhibition In Erbill
June 29, 2022 The delegation of the Central Bank of Iraq participated on Tuesday, 6/26/26/262 in the activities of the modern technology exhibition held on the ground of the Erbil International Fair, and visited the wings of banks and modern technology companies.
The delegation participated today, Wednesday, 29/26/292, in the partnership forum between British companies and Iraqi companies in the Kurdistan region.
The Deputy Governor presented a presentation on the
tasks of the Central Bank of Iraq,
its roles and development initiatives, and the
progress witnessed by the banking sector under the control of the central bank and
its support for this sector.
The President of the Association of Private Banks and a number of officials of the Central Bank participated in those events.
The Central Bank of Iraq information Office 29- June – 2022 https://cbi.iq/news/view/2038
The Governor Of The Central Bank Of Iraq Participates In The Conference (Access To Financing)
June 29, 2022 The Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhif, confirmed that the Central Bank continues to perform its roles that the law has drawn in monitoring the financial and banking sector.
His Excellency said today, Wednesday: The central bank pushes the financial and banking sector to greater horizons.
His Excellency added, in a speech at the "Access to Financing" conference, which was held at the Rashid Hotel, with the participation of the public and private sector:
The Central Bank of Iraq has started a package of procedures to save the economy and economic institutions from a certain abyss, after a state of despair and panic prevailed among those dealing with the economy, And dealing with state institutions, after the delay in the performance of their obligations with them. And he added:
The central bank made access to funding as possible when he launched a number of qualitative and courageous initiatives that enabled our society to feel safe through our initiatives that included various and important sectors.
His Excellency pointed out that the Central Bank of Iraq is not preferred by these procedures and initiatives, and he only finds itself in the location in which it must be.
The Governor explained that the goal of
strengthening financial inclusion, and
securing the arrival of financial and banking services to society was one of our priorities that
we are working on in short, medium and long -term plans, and that
access to financing was no longer a dream that the hands of routine, corrupt and closed horizons,
but rather a national path in the work of the banking sector and institutions Microfinance, and
its defense has become a priority of the central bank and the banking sector alike.
The Central Bank of Iraq information Office 29 - June – 2022 https://cbi.iq/news/view/2037
The Iraqi Market Launches A Platform For Trading Shares Of Undisclosed Joint-Stock Companies
Economie Today, 19:52 Today, Wednesday, the Iraqi Stock Exchange announced the launch of a platform for trading shares of undisclosed joint stock companies.
The Executive Director of the market, Ahmed Abdel Salam, said in a statement received by the Iraqi News Agency (INA), that "it was decided to develop and launch (a platform for trading shares of undisclosed joint-stock companies), starting from the session next Sunday, the third of July," noting that
"This came in accordance with Legislative Order No. 74 of 2004 and the instructions and rules issued by the Securities Commission and the Iraq Stock Exchange. He added,
"The platform aims to protect the rights of shareholders in joint stock companies listed on the Iraq Stock Exchange, attract potential investors, and activate trading in securities," explaining that
"the rate of change in the session will be 5%, up and down from the previous closing price of the stock, and the price will be left by 50% change from the last closing price of the stock in the first trading session on the platform. He stated that
"trading on this platform will take place for companies that the Securities Commission had previously decided to suspend from trading because they did not provide the required disclosures, which are
(Electronic Industries Company,
Light Industries Company,
Al Badia Public Transport Company,
Modern Construction Materials Industry Company, and the
Iraqi Transport Company).
Al Berri, Babel Bank Company,
Al Batik Financial Investments Company,
Modern Animal Production Company,
Al Shamal Bank Company,
Al Khair Financial Investment Company and the
Iraqi Company for the Transport of Oil Products). He added that
"the authority is the one who decides in the future to include any company in trading on this platform," calling
"the aforementioned companies to commit to providing the minimum disclosure (a report on the company's status from the date of submitting the last financial statements to date / lawsuits / seizure and mortgage / any events). material impact on the company's activity). And he indicated that
"the experience and mechanisms will be evaluated after three months from the start of the implementation and benefit from the observations indicated on it according to an evaluation and efficiency examination form," explaining that
"the Securities and Exchange Commission and the Iraq Stock Exchange decided to increase the rate of price change from 10% to 15% starting from 3 /7/2022, for the companies listed therein, in order to activate trading on the regular trading platform. He stated that
"based on the principles of the work of the securities commissions and stock exchanges and the principles of the International Federation of Authorities, we stress that the potential shareholder and investor - the responsibility of buying and selling shares on the shares listed on the undisclosed companies platform - based on his investment decisions, and that
the brokerage companies install a note in The authorization to buy and sell and in the investor agreement includes the phrase informing the shareholder and investor of the above and acknowledging that he bears any risks that may appear later due to lack of information and data - lack of disclosure - for the companies participating in this platform. https://www.ina.iq/159689--.html
A New Development Related To The Economic Zone Between Iraq And Jordan
Economie Today, 19:37 Baghdad - INA - Wissam Al-Mulla, Governor of Anbar, Ali Farhan Al-Dulaimi, confirmed today, Wednesday, that work is underway to complete the economic zone between Iraq and Jordan.
Al-Dulaimi said in a statement to the Iraqi News Agency (INA), that
"the province discussed with the Ministry of Finance and the competent authorities, the free and industrial zones," noting that
"these areas are very important in Anbar Governorate because they are characterized by a good geographical location." He explained,
"The economic zone between Iraq and Jordan has been defined," noting that
"work is underway to be completed by the local government and the Kingdom of Jordan, in addition to the Republic of Egypt." He added,
"The completion of the area will achieve a great economic return," noting that
"the presence of 5 border crossings in Anbar and free zones is very necessary." He stressed,
"The need to develop and reconsider the laws related to the development of free zones in line with the development taking place in the world in general and in Iraq in particular," noting that
"there are distinguished opinions presented by the Ministry of Finance and specialists on how to deal with free zones in Iraq." https://www.ina.iq/159687--.html
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