KTFA Members "News and Veiws" Sunday PM 11-21-2021

KTFA:

Frank26:  "THE GRADUAL INCREASE IN THE IQD EXCHANGE RATE HAS ALREADY OCCURRED  AND THE CBI EDUCATION EXPLAINED IT TO THE CITIZENS....... YOU ARE NOW GOING TO BE MOVED TO 1000-1 TO BRING IT BACK TO 1-1".......F26

 A financial official determines the possibility of changing the dollar exchange rate in next year's budget

16th November, 2021

The (former) Director of the Financial Supervision Bureau, Salah Nuri, has determined, on Tuesday, the possibility of restoring and considering the previous dollar exchange rate.

Nuri said in an interview with "Mawazine News" that "according to our information, the general budget for the next year is not much different from the budgets of previous years, in terms of financial allocations and disbursement, as they will be followed by the same mechanism, and that the method of preparing it and the financial and spending ceiling is similar."

He added, "There is a possibility to reconsider the dollar exchange rate gradually, and that the return will not be in the same way it was changed," noting that "the exchange rate remains on its status in the 2022 budget." He pointed out, "The rise in the exchange rates of the dollar greatly affected the living situation of citizens, and that the benefit was obtained only for the Ministry of Finance by increasing its financial liquidity and disbursing salaries without the need to borrow."

He pointed out that "the currently approved exchange rate reduced the ability of the Iraqi citizen (the employee) to purchase by 48%, while the fragile classes were the most affected."   LINK

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Samson:  Masrour Barzani: The Kurdistan Region can be a gateway to goodness for all of Iraq

21st November, 2021

The Prime Minister of Kurdistan Regional Government, Masrour Barzani said on Sunday that the region can be a gateway to goodness for all of Iraq.

In a statement to reporters on the sidelines of the Manama Forum, Barzani said, "We always say that the Kurdistan Region can be a gateway to goodness and blessing that will benefit all of Iraq."

He explained that, "in terms of security and economics, the region is in a more advanced stage, and we hope that this step will be a catalyst for the rest of Iraq to advance the economy in the country."   LINK

MilitiaMan:  Sounds like the Region has her act together. The Forum in Dubai was about Advanced Technologies, Artificial Intelligence in Finance, Interest Rates, Foreign Currencies, Mind stability for leaders, Block Chain, etc.. The 600-800 conferee's were there to trigger implementation of it all. Sounds like it was a success... More to come in Forum wise in Bahgdad the 22nd and 23rd from the sounds of it. ~ MM

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Samson:  The Central Bank publishes the controls for declaring funds

21st November, 2021

Today, Sunday, the Central Bank of Iraq published the controls for the declaration of funds

The Central Bank stated in a statement received by "Al-Iqtisad News", that this came "in order to reduce the risks of entering and taking money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, and the provisions of Regulations No. 1 of 2019 (amended to Regulations No. 1 of 2017)

The Central Bank decided to allow the entry and exit of sums less than 10 thousand US dollars or its equivalent in other currencies without declaring them

As well as allowing the entry and exit of amounts exceeding 10 thousand US dollars to 20 thousand US dollars, provided that they are declared with the need to show what supports the purpose of entering and removing these amounts, and in the event that the supporting documents are not available, the traveler submits an undertaking to bring those documents within 30 days from the date of declaration

The Central Bank decided to prevent the entry and exit of amounts exceeding 20 thousand dollars or its equivalent in other currencies. The process of entering or taking out these amounts is through the financial institutions exclusively

It also prevented the entry and exit of sums of more than one million Iraqi dinars, even if it was declared, and the amount is seized and legal measures are taken against him

In the case of gemstones and precious metals, they must be declared if their value exceeds 10,000 dollars, according to the statement

The statement stressed the procedure for "declaring the bearer's negotiable financial instruments or transferring them inside or outside Iraq through a person, mail service, shipping service or any other means, whose value exceeds 10 thousand dollar   LINK

Samson:  The highest among the Gulf countries.. International Monetary: Iraq will achieve economic growth this year

21st November, 2021

The International Monetary Fund expected that Iraq will achieve the highest economic growth among the Gulf countries during the year 2021.

The Fund said in a table seen by / Mawazine News /, that "Iraq is expected to achieve economic growth for the year 2021 that is higher than the rest of the rich Gulf countries." With oil, by 3.6 percent," he added, adding that "the economic growth of the Arab Gulf states and the countries neighboring Iraq will witness unevenness."

And he indicated that "Saudi Arabia is expected to witness an economic growth of 2.8%, Oman to witness an economic growth of 2.5%, Qatar to witness an economic growth of 1.9%, Kuwait to witness an economic growth of 0.9%, and the UAE to witness an economic growth of 2.2%." LINK