Friday Morning Iraq Economic News Highlights 3-3-23

Friday Morning Iraq Economic News Highlights 3-3-23

The Stability Of The Dollar Exchange Rates In The Local Markets

03/03/2023  1258  Earth News / Today, Friday, the exchange rates of the dollar witnessed stability in the local markets.  The selling price of the dollar was recorded at 152,500 dinars per 100 dollars.  As for the purchase price of the dollar, it recorded 152,000 dinars for every 100 dollars.

https://earthiq.news/archives/204830

With The Document.. The Reference Al-Fayyad Issues A Fatwa On Selling The Dollar

Time: 03/03/2023 14:44:14  Read: 1,820 times    {Local: Al-Furat News} The religious authority, Grand Ayatollah Sheikh Muhammad Ishaq Al-Fayyad, issued a fatwa stating that it is not permissible for exchange companies to sell dollars more than the rate set by the Central Bank of Iraq.

And the Central Bank of Iraq, on February 8, started selling the dollar at the new official rate as part of its procedures and steps to stabilize the exchange rate,” noting that “the new exchange rate granted to merchants and others provides lower prices for citizens.

The exchange rates will be according to the central bank’s rate as follows:

- 1300 dinars per dollar, the price of buying a dollar from the Ministry of Finance.

- 1310 dinars per dollar, the price of selling dollars to banks through the electronic platform.

- 1320 dinars per dollar, the sale price of the dollar from banks and non-bank financial institutions to the final beneficiary.  LINK

Al-Rafidain Begins To Deposit The Dinar And Deliver The Dollar, Starting From Next Sunday

03/03/2023  2614  Earth News / Al-Rafidain Bank announced, today, Friday, the direct deposit of the Iraqi dinar and the delivery of the dollar, starting from Sunday, through the electronic platform.

The media office of the bank stated, in a statement received by Earth News, that "after depositing the amount in dinars, the dollar currency will be received exclusively from the bank's outlet at Baghdad International Airport."  He added that "the branches in which the dinar will be deposited are (Palestine Street Branch - Firdous Square - Arboretum - Officers' House - Al Mohit - Al Rafi'i - Al Maarefah)". https://earthiq.news/archives/204828

Starting from Sunday.. Al-Rafidain begins to deposit the Iraqi dinar and deliver the dollar

March 3, 2023 |8,161 views  Alsumaria News - Localities, Al-Rafidain Bank announced that it will start procedures for expanding the Iraqi dinar deposit outlets for travelers through the electronic platform, as of Sunday.

And the bank's media stated, in a statement received by Alsumaria News, that "the procedures for expanding the Iraqi dinar deposit outlets for travelers will be initiated through the electronic platform, starting on Sunday, through a number of Baghdad branches designated for that."

The statement added, "After depositing the amount in dinars, the dollar currency will be received exclusively from the bank's outlet at Baghdad International Airport."

He pointed out, "The branches in which the dinar will be deposited are (the Palestine Street branch - Firdous Square - the arboretum - the Officers' House - the ocean - Al-Rafi'i - Al-Ma'rifah)."   LINK

Iranian official: America is waging a currency war against Iran from Erbil, Herat and the Emirates

2023.03.03 - 13:28  Baghdad - Nas  The former head of the Iranian Revolutionary Guard Intelligence, Hussein Taeb, said that good news will be announced about the course of the investigation regarding the attack by drones in Isfahan, accusing the Americans of manipulating currency rates from several cities, including Erbil.

"Nass" channel on Telegram.. our latest updates

In statements at the University of Science and Industry in Tehran, reported by Mehr News Agency, and followed by "NAS" (March 3, 2023), Taeb indicated that "the Americans started a hard currency war to prevent the establishment of the infrastructure for the advancement of the Iranian economy," noting that "this action was not It is the first of its kind, but Iran has been fighting this war for a long time."

  He continued, "The Americans are manipulating the prices of hard currency in each of Erbil Iraq, Herat Afghanistan, the Emirates, and in the Tehran bazaar, as they not only set the currency prices, but they also take the initiative to buy it to create chaos in Iran," he said.

https://www.nasnews.com/view.php?cat=103133

An Economist Reveals The Reason For The Rise In The Price Of The Dollar In The Local Markets

On Thursday, economist Nabil Jabbar Al-Tamimi revealed the reason for the rise in the dollar exchange rate again in the local market, despite government measures and the Central Bank of Iraq to control prices.

Al-Tamimi said, in a press interview seen by “Takadum”, that “despite the increase in the indicators of the Central Bank of Iraq’s daily sales of dollars, related to remittances and credits, which appear good and growing in a promising way, as they rose from the rate of 30 million dollars per day to 100 million dollars per day, which is It is a matter of optimism, but the problem is still related to small merchants.”

He explained that “small merchants are still conducting their transfers away from the banking system and away from the (platform) by buying dollars and transferring them through private offices that conduct transfers illegally, which caused an increase in demand for dollars locally and contributed to its rise, in light of the limited supply practiced by the government and the bank.” Central to stop the phenomenon of the state in the local market.

And he indicated that "preliminary estimates of the volume of trade for small merchants may be in the range of 50-70 million dollars per day, about 20 million dollars of which go to Iran to feed private imports from Iranian merchants."

Al-Tamimi continued, “These estimates may be outside the platform today, and the large price difference between the official price of 1310 and the parallel price of 1570 may prompt small merchants to adapt their situation faster to conduct their transfers through the platform.”

And the economist stressed, “Imports from Iran and financial payments to Iranian merchants (up to 20 million dollars per day) remain a permanent problem for reasons related to sanctions on Iran and the inability to pass bank transfers towards it, which requires the Central Bank and the government to deal with it.”

The price of the dollar in the local market witnessed a noticeable decrease below 1,500 dinars per dollar after the Council of Ministers approved the decision of the Central Bank of Iraq to reduce the official price of the dollar to 1,300 Iraqi dinars, but it rose again to reach today 1570 dinars per dollar.

https://takadum-news.com/archives/152189

Chambers Of Commerce: The Disappearance Of The "Black Dollar" Needs Two Months, And The Sudanese Adopted 4 Steps

Economy |Today, 15:13 |The head of the Chambers of Commerce in Diyala Governorate, Muhammad al-Tamimi, confirmed today, Friday, that the speculative process by raising the dollar prices will need a period of about two months to be completed.

Al-Tamimi told (Baghdad Today), that "the exchange rate of the dollar is still very high and approached two days ago from 159 thousand dinars for every $100, while the official exchange rate is 130, which gives an indication of the size of the large difference that is exploited by some in speculation and achieving more." of profits."

He added that the "black dollar", referring to the speculative process to raise exchange rates, "will end within two months, perhaps less, and begin to decline, reaching its current exchange rate, especially with the Sudanese government beginning to adopt 4 important steps, most notably increasing support for foreign trade by providing currency to traders according to contexts." organization and openness to the use of other currencies in exchange, including the Chinese yen.

He pointed out that "the pressures of the Sudanese government to push internal trade with all its addresses and sectors to abandon the dollar in favor of the dinar, such as buying and selling cars, for example, began to bear fruit, even on a specific scale, but it is an indication of overcoming an accumulated error that gave the dollar a great dominance in determining prices in the markets."

On (January 21, 2023), Prime Minister Muhammad Shia'a al-Sudani confirmed taking a number of bold decisions to support and stabilize the Iraqi dinar, warning those who try to exploit the crisis and play on people's needs.  LINK

With the participation of Iraq.. an international competition for the beauty of the Arabian horse

Time: 03/02/2023 23:43:20   Read: 2,301 times   {Sports: Al Furat News} Sharjah Equestrian and Racing Club is organizing the 24th Sharjah International Arabian Horse Festival, starting from tomorrow until next Sunday, in cooperation with the European Authority for Purebred Arabian Horse Beauty Competitions (ECAHO), and under the auspices of Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah. .

The festival is also held under the auspices of the Sharjah International Airport Authority, the official sponsor of the festival and a partner in success for 23 years, and the Sharjah Sports Council, in cooperation with the Emirates Arabian Horse Association.

The Sharjah International Festival is the first festival of its kind accredited by the ECAHO in Summer (A). It is held in a covered hall. The number of participating horses is 288 horses from 9 countries, including 8 Arab countries.

The participating countries are the Emirates, Saudi Arabia, Bahrain, Qatar, Egypt, Iraq, Lebanon, Brazil and Jordan, and the Supreme Organizing Committee of the Festival is chaired by Abdullah bin Majid Al Qasimi.

Sultan Khalifa Al Yahyai, ​​a member of the Sharjah Sports Council and Director General of the Sharjah Equestrian and Racing Club, said, "The Sharjah Festival has completed its 24th year, to be the oldest festival in the region for the Arabian horse, and it was approved by the European Authority for Purebred Arabian Horse Beauty Competitions (ECAHO), to align with the global agenda for horse beauty racing." Arabic, and the festival falls under the highest classification.   LINK

"Tidbits From TNT" Friday Morning 3-3-2023

TNT:

Tishwash:  An economist explains how to trade with China in the "yuan" currency

Today, Friday, the economic expert, Dr. Nasser Al-Kinani, explained how to deal with China through their national currency, the yuan, and to move away from the dollar as a currency of trade exchange with this country.

 Al-Kinani told Al-Maalouma, that "Iraq's dealings with China in the yuan currency needs more time, and this requires building an oil refinery inside China, so that it supplies quantities of oil outside its share in OPEC, given that the refinery is Iraqi, and here neither America nor anyone else can prevent Iraq." to take this step.”

 He added, "Building the refinery in China and supplying it with 150,000 barrels per day of crude oil and selling it at a price double the price of crude will return to Iraq with large revenues from the yuan currency, enabling it to import Chinese goods and sell them to the Iraqi merchant in dinars, and therefore Iraq achieved revenues and owned sums of the Chinese currency." He deals with it from Beijing, away from American pressure."  

He pointed to the possibility of bypassing sanctions and the US veto on dealings with China in dollars through the Iraqi oil refinery in order to move away from dealing in the US currency and the continuation of trade exchange with China in its currency.   link

Tishwash:  Al-Samarrai: The Prime Minister is taking another revolutionary measure to correct the country's economic conditions

The head of the Azm Alliance, Muthanna al-Samarrai, considered that the prime minister is taking another revolutionary measure to correct the country's economic conditions. 

Al-Samarrai said in a tweet to him, "The Prime Minister's directive to review the sums deducted from the salaries of employees, retirees, and social protection, and to review the contracts of banks and electronic payment companies that have monopolized this process for years by opening the door to competition to serve the better is another revolutionary measure to correct the economic conditions of the country. "  link

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CandyKisses:  Gold is heading for its best weekly performance since mid-January

Baghdad - Nas  

Gold prices rose on Friday, apparently heading for their biggest weekly gain since mid-January as the dollar weakened while traders assessed the prospects that the U.S. Federal Reserve will continue raising interest rates.     

By 0550 GMT, spot gold was up 0.2 percent at $1839,39.1 an ounce, up about 6.0 percent for the week so far. U.S. gold futures rose 2.1844 percent to $80,

Raising interest rates to curb inflation is reluctant for investors to inject money into non-yielding assets such as gold. The dollar index fell 0.2 percent to record its first weekly loss since January, making the yellow metal less expensive for buyers of other currencies.  

Spot silver rose 0.5 percent to $21 an ounce, platinum rose 0.4 percent to $963.90 and palladium rose 0.4 percent to $1454,99..  

All three metals are expected to post weekly gains, with platinum on track for its best weekly since November.  

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Tishwash:  Chambers of Commerce: The disappearance of the "black dollar" needs two months, and the Sudanese adopted 4 steps - urgent 

The head of the chambers of commerce in Diyala, Muhammad al-Tamimi, confirmed today, Friday, that the disappearance of the so-called "black dollar" will take about two months.

Al-Tamimi told (Baghdad Today), that "the exchange rate of the dollar is still very high, and two days ago it approached 159 thousand dinars for every $100, while the official exchange rate is 130, which gives an indication of the size of the large difference that is exploited by some in speculation and investigation." More profits.

He added that the "black dollar", referring to the speculative process to raise exchange rates, "will end within two months, perhaps less, and begin to decline, reaching its current exchange rate, especially with the Sudanese government beginning to adopt 4 important steps, most notably increasing support for foreign trade by providing currency to traders according to contexts." organization and openness to the use of other currencies in exchange, including the Chinese yen.

He pointed out that "the pressures of the Sudanese government to push internal trade with all its addresses and sectors to abandon the dollar in favor of the dinar, such as buying and selling cars, for example, began to bear fruit, even on a specific scale, but it is an indication of overcoming the error of accumulation that gave the dollar a great influence in determining prices in the markets."

On (January 21, 2023), Prime Minister Muhammad Shia'a al-Sudani confirmed taking a number of bold decisions to support and stabilize the Iraqi dinar, warning those who try to exploit the crisis and play on people's needs.  link

Mot:  ... its a Marital Thingy! - Trust Me! ~~~~

Mot:  .One of those Precious Moments while Raising the ""Wee Folks""

Iraqi News Highlights Thursday Evening 3-2-23

Iraqi News Highlights Thursday Evening 3-2-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Decides To Increase Dollar Cash Sales To Banking Companies

Thursday 02 March 2023 17:49 | Economical Number of readings: 162  Baghdad / NINA / - Today, Thursday, the Central Bank of Iraq decided to increase cash sales of the dollar to banking companies, by two million dollars per week./ End 2   https://ninanews.com/Website/News/Details?key=1037942

A Significant Decline In The Central Bank Of Iraq's Dollar Sales In Today's Auction

Posted On2023-03-02 By Sotaliraq  The central bank’s sales of dollars decreased at auction today, Thursday, by 70%, to record 140 million dollars.

A reporter stated, “The Central Bank sold today, during its auction for buying and selling US dollars, 82 million and 617 thousand and 564 dollars, a decrease of 70% compared to yesterday, Wednesday, in which sales amounted to 140 million, 390 thousand and 285 dollars, which the bank covered at a basic exchange rate of 1305 dinars.” For each dollar for documentary credits and international settlements for electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Our correspondent added that most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits), amounting to 63,317,564 dollars, while the remaining 19,300,000 dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought cash dollars amounted to 8 banks, while the number of banks that responded to requests for strengthening balances abroad reached 18 banks, while the total number of exchange and mediation companies participating in the auction was 34 companies.   LINK

Trade Activates Its Economic Tools To Prevent A Rise In Prices

Money and business  Economy News _ Baghdad  The various government agencies have doubled their moves aimed at confronting the price hike resulting from the increase in the exchange rate of the dollar, especially since Iraq depends mainly on imported materials whose costs have increased as a result of the high exchange rate of the dollar, while the Ministry of Commerce revealed that it had developed a broad plan to provide various foodstuffs for a month later. In order to prevent monopoly, economic specialists see the importance of the return of "government trade" and the entry of the competent official institutions into a process of competition with the private sector in order to control prices.

Most of the prices of household goods and foodstuffs witnessed remarkable increases in previous times, which was confirmed by the Ministry of Planning, which announced high inflation rates, mainly caused by the high exchange rate of the parallel dollar adopted by importers to finance their goods.

The media spokesman for the Ministry of Commerce, Muhammad Hanoun, revealed in an interview with “Al-Sabah” and its follow-up to “Eqtisad News” that “intensified efforts to pump large quantities of flour, table eggs and chicken to direct sales outlets, and that the step comes in implementation of the directives of the Council of Ministers, and the activation of tools that will create stability My price in the local markets and the fight against monopoly.

Hanoun pointed out that this plan will continue after the blessed month of Ramadan, and it is the beginning of steps that the Ministry of Commerce will take in the near future, including the distribution of other materials, including meat, fish and cheese, and they will be accessible to the citizen at the cheapest prices.

Hanoun added, "The outlets of the Ministry of Commerce pumped large quantities of table eggs and sold them at lower prices than the local market, in addition to pumping large quantities of white flour at a subsidized price. It was also decided that the ministry's outlets, during the coming period, will sell chicken meat in larger quantities and at a price not exceeding three Thousands of dinars per kilo, and selling a liter of milk for only one thousand dinars.”

The media spokesman added that the ministry continues its campaigns until prices stabilize in the markets and there is real supply and demand, and at that time the Ministry of Commerce will monitor the market only, but there are still indications of high prices or monopolization of materials by "crisis traders."

For his part, academic and economic researcher Dr. Abdul Karim Al-Issawi says, "The Ministry of Commerce's step represents a return to government trade, and this trade has pros and cons. Among its positive aspects is the import of various food, basic and investment materials and commodities from well-known origins of high quality and guaranteed use.

These suppliers bear responsibility for any Damages occur and guarantee the import of basic commodities such as cars, machinery and production equipment,” stressing that this approach “guarantees that there will be no financial and administrative corruption upon completion of the deal, as officials will be subjected to severe accountability by the central government.”

Al-Issawi continued, the government can use the commercial paper to deal reciprocally with the bilateral trading partner to achieve national interests when exposed to danger, then the government can protect the local product similar to imported foreign goods and push to pursue a policy of economic diversification, indicating that there are some negatives that may accompany the direction of trade, including that This policy may create a kind of bureaucracy and sluggishness of the job.

In turn, the academic, Dr. Amr Hisham, explained that the issue of the Ministry of Commerce adopting a direct selling policy has multiple aspects, most of which are positive and welcomed by the citizen, especially since entering the market in times of crisis is a positive thing because it strengthens supply chains, increases the supply of goods and materials, and reduces manipulation and speculation. And profit-taking by crisis traders.

Hisham believes that this intervention by the Ministry of Commerce is good in its results. As for continuing to interfere in the market by the Ministry of Commerce in normal and stable times, it may place additional unjustified financial and administrative burdens on the ministry's cadres and on the federal budget in general.  Views 113  https://economy-news.net/content.php?id=32747

The Iraqi Oil Ministry Pays $2.6 Million To An American Law Firm

Energy MENAFN revealed that the Iraqi Ministry of Oil paid an American law firm $900 an hour for advice on the dispute between Iraq and Turkey over a pipeline agreement.

According to the news translated by "Al-Eqtisad News", documents submitted under the US Foreign Agents Registration Act (FARA) revealed the amount that the Texas-based law firm Vinson and Elkins received, amounting to more than $ 2.6 million, for legal services related to arbitration. Iraq's Oil Ministry in front of the US State Department amid a long-running dispute between Iraq and Turkey over a pipeline agreement.

The oil ministry commissioned the company, which has dealt with Baghdad many times in the past, in July 2022 to brief on legal issues in a pending arbitration brought by Iraq in 2014 against Turkey over allegations that the country breached an agreement involving a major oil pipeline.

A partner in the firm, James Loftis, was charged $900 an hour for his advice on the matter.

https://economy-news.net/content.php?id=32752

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Iraqi News Highlights Thursday Afternoon 3-2-23

Iraqi News Highlights Thursday Afternoon 3-2-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Of Iraq Warns Of Financial Scams Claiming To Send Aid From Humanitarian Organizations

Political | 06:15 - 02/03/2023  Baghdad - Mawazine News, the Central Bank of Iraq warned today, Thursday, of fraud, claiming that aid is being sent to humanitarian organizations.

The bank stated, in a statement, which Mawazine News received a copy of, that it "warns of fraud cases organized by unknown parties claiming to send aid from humanitarian organizations."

He added, "These authorities ask those they contact to open an account in the Central Bank of Iraq or an Iraqi bank, with the payment of transfer fees for this aid, and then they are informed that the procedures require time from the Central Bank of Iraq, or that the transfer is withheld."

The bank called on citizens not to deal with such practices that expose them to fraud and fraud. Ended 29    https://www.mawazin.net/Details.aspx?jimare=220792

Al-Rafidain Bank Launches The Electronic System To Combat Money Laundering And Terrorist Financing

Political | 03:23 - 02/03/2023   Baghdad - Mawazine News Al  -Rafidain Bank announced, on Thursday, the launch of the electronic system to combat money laundering and terrorist financing.

The bank stated in a statement that Mawazine News received a copy of it, that "in implementation of the directives of the Central Bank of Iraq and in compliance with and application of international standards and requirements and instructions issued by the Office of Combating Money Laundering and Terrorism Financing, and under the auspices and supervision of the Director General of the Rafidain Bank, Ali Karim, the Director General of the bank opened the search and investigation system The electronic anti-money laundering and terrorist financing program, which was completed by a specialized company, with the cooperation and coordination of the Money Laundering Reporting Division in the bank, in accordance with local and international requirements.

He added, "This electronic system, which was implemented for the first time in the bank, can be used to link the local and international ban lists electronically, knowing the names of the banned, and protecting the bank and its financial accounts from people within the ban lists for the purpose of monitoring suspicious financial transactions and reporting them to the Anti-Money Laundering and Terrorist Financing Office, which is concerned with receiving reports."

And financial data via electronic linkage with all agencies obligated to report, whether local or international, exchange information with law enforcement agencies, and stand on suspicion of money laundering and financing terrorism https://www.mawazin.net/Details.aspx?jimare=220775

In Numbers.. The Weekly Trading Indicators For The Iraq Stock Exchange

political| 03:15 - 02/03/2023   Baghdad - Mawazine News  The Iraq Stock Exchange announced, on Thursday, trading indicators for the last week of last February.

The market said in a statement, which Mawazine News received a copy of, that "during the last week of February 2023, five trading sessions were organized from Sunday, corresponding to 2/26/2023, to Thursday, corresponding to 03/02/2023, and during this week the indicators were achieved Below:

1. The number of shares traded during this week amounted to more than (2) billion shares

2. The value of shares traded this week amounted to more than (4) billion dinars

3. The trading index closed for the first session of the week at (644.26). ) points, while the index closed at the end of the week at (637.14) points, achieving a decrease of (1.12%) from its closing at the beginning of the session    https://www.mawazin.net/Details.aspx?jimare=220773

Advisor To The Prime Minister: Consumer Loans Drain The Country's Wealth

Economie| 11:57 - 02/03/2023  Baghdad - Mawazine News  The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, classified, on Thursday, the loans provided by banks into two types.

Saleh said, "The loans provided by banks, which are called bank cash credit, are classified into two types. The first includes disbursement of the loan on real investment in the areas of production and generates what is called the investment accelerator in the growth of national income by activating the cycle of demand for factors of production, especially the labor force." capital and related production supplies.

"This will contribute to increasing the annual real economic growth and maximizing the added value in the national economy as a whole, whether in the areas of agricultural activity, digital services, industry, building and construction, and others," Saleh added, in an interview with the official news agency, followed by Mawazine News.

And he continued, "There are loans of a consumer nature that stimulate the demand for consumer goods and services," explaining that "the problem of loans related to consumer spending, if it is not linked to the local production of goods and services and leads to activating the derived demand for factors of production through growth, then it will fuel the derived demand as a result of Expenditure resulting from consumer loans in spending on goods and services of foreign or imported origin.

He stressed that "this is what makes this type of loan of a consumer nature that drains the country's wealth and strengthens growth in other countries," calling on the banking system to "grant credit or loans to the truly invested and productive forces in the national economy, and at rates that exceed lending for consumption purposes, especially in Our country's current consumption spending on imported goods and services is very widespread. https://www.mawazin.net/Details.aspx?jimare=220758

The Deputy Speaker Of Parliament Meets The President And Members Of The Association Of Private Banks

First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, received in his office the head of the Iraqi Private Banks Association, Wadih Handal, and a number of members.

Al-Mandalawi said that the House of Representatives is following the procedures of the Central Bank and the government’s decisions seeking to develop and develop the local banking sector. Financial and banking, and combating the dangerous phenomena that threaten the security of the market and the citizen, especially currency smuggling, currency laundering, counterfeit currency, and others.

The first deputy called on local banks to take advantage of the Central Bank's initiative to support small and medium enterprises in various sectors to create job opportunities for young people, increase national income, and reduce dependence on oil as the sole source of financing the treasury in order to achieve economic stability, which will be an attractive environment for investors.

Views 159  Added 03/02/2023 - 11:02 AM  https://economy-news.net/content.php?id=32751

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Thursday Morning Iraq Economic News Highlights 3-2-23

Thursday Morning Iraq Economic News Highlights 3-2-23

Obelisk Clock: The Kurdistan Democratic Party Denies Pavel's Statements About Smuggling Dollars Through Dirt Roads

March 2, 2023   Baghdad / The Obelisk: The Obelisk publishes the most prominent interactions of the TV dialogues on Wednesday.  Head of the Parliamentary Services and Reconstruction Committee, Ali Al-Hamidawi, during a televised interview:

- The reality of services in the country is not good, and we were aspiring for the best

- There is real seriousness on the part of the Sudanese government to develop the reality of services

- We must pay attention to lagging projects in the governorates so as not to disappear

- 3 trillion dinars share the capital Baghdad during the next budget

- The government should go towards important strategic projects

- Institutions The service works by implementing small projects to achieve corruption

- we are facing investment chaos and randomness in the investment sector

- there must be a real investment plan in Baghdad

Member of the Kurdistan Democratic Party, Ali Al-Faili, during a televised interview:

– Pavel Talabani’s recent statements are not new

– we have timetables to zero in on all problems between the center and the region

– there are marathon negotiations to resolve many outstanding issues between the center and the region

– dollar smuggling through Turabi passes through Kirkuk and Sulaymaniyah according to Pavel Talabani’s statements is not true

– there are individual smuggling operations Dollars exist and do not deny it

MP of the Sadiqoon Bloc, Ahmed Al-Musawi, during a televised interview:

- Iraq cannot be an axis against another

- Iraq is not about to please the Americans or take into account their annoyance

- America wants to subjugate the countries of the region to its policy and interests

- The resistance factions played a positive role in Iraq

- The resistance factions monitor government performance to rid the Iraqis of America's hegemony

- The interventions of the American ambassador In Iraq, they are brazen

- the resistance factions gave the government an opportunity to end the foreign military presence

- political stability must be invested in building the state

- the international balance represents a factor of strength for Iraq

- the 2019 crisis with the overthrow of Abdul Mahdi's government cannot be returned now

- the Al-Kazemi government is "distorted" and worked to bring down the system Moral

- the Iraqi people cannot submit to the will of any state    https://almasalah.com/archives/44605

Planning Reveals An Aspect Of The Current Year's Budget.. This Is What It Includes

[ltr]2023.03.02 - Baghdad - Nas  The Ministry of Planning announced, on Thursday, that the budget for the current year includes two types of service projects, while counting the number of lagging projects.

  "Nass" channel on Telegram.. our latest updates : "The general budget for the year 2023 will be better than its predecessors, and this will reflect positively on the nature of projects in Iraq," the ministry's spokesman, Abdul-Zahra al-Hindawi, said in a statement to the official agency, followed by "NAS" (March 2, 2023).

Al-Hindawi added, "The ministry has two types of projects: the first is ongoing projects under implementation, and others that are lagging, amounting to 1,400 projects," indicating that "priority will be for ongoing projects, with the resumption of work on lagging projects after addressing the reasons for delay or stopping with the inclusion of new projects with A development priority according to the capabilities of the executive authorities in performing their financial obligations with previous projects.

  The spokesman pointed out that "priority will be given to existing projects (under implementation) and service projects according to the priorities of the government program, such as projects (schools, water, sanitation and hospitals)."     https://www.nasnews.com/view.php?cat=103081

Al-Mandalawi: Fighting Corruption Requires An Honest And Developed Banking System That Works In The Interest Of The Country And Its People

Thursday 02 March 2023 11:08 | politics Number of readings: 270  Baghdad / NINA / - Mohsen Al-Mandalawi, First Deputy Speaker of Parliament, stressed: "Fighting corruption requires an honest and developed banking system that works for the benefit of his country and people." Al-Mandalawi said, during his meeting with the head of the

Iraqi Private Banks Association, Wadih Handal, and a number of members: "The House of Representatives is following up on the bank's procedures."

The Central Bank and government decisions seeking to develop and develop the local banking sector, in return, the latter must initiate the development of its tools in order to enhance citizen confidence in it, and strengthen coordination mechanisms to implement the largest possible number of service projects , as well as assigning a package of government reforms in financial and banking affairs and combating dangerous phenomena that threaten security the market and the citizen, especially currency smuggling, currency laundering, counterfeit currency, and others.

The First Deputy called on local banks to take advantage of the Central Bank's initiative to support small and medium enterprises in various sectors to create job opportunities for young people, increase national income, and reduce dependence on oil as the only source of financing the treasury in order to achieve economic stability, which will be an attractive environment for investors

https://ninanews-com.translate.goog/Website/News/Details?key=1037824&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

High dollar prices in Baghdad and Erbil

2023-03-02 Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Thursday, in the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 156,250 Iraqi dinars for 100 US dollars this morning.

While the prices yesterday morning, Wednesday, were 155,500 dinars, compared to 100 dollars.

Our correspondent indicated that the buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 157,250 Iraqi dinars for every 100 US dollars, while the buying prices reached 155,250 Iraqi dinars for every 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the dollar prices also recorded an increase, as the selling price of the dollar reached 157,400 dinars per 100 US dollars, and the purchase price reached 156,400 dinars per 100 US dollars.   LINK

The Iraq Stock Exchange Trades More Than Two Billion Shares, With A Value Of More Than 4 Billion Dinars, During The Week

2023-03-02 Shafaq News/ The Iraqi Stock Exchange announced, on Thursday, that more than two billion shares have been traded, with a financial value of more than 4 billion dinars, during the current week that is about to end.

During the last week of February 2023, the Iraq Stock Exchange organized five trading sessions, from Sunday 26/02/2023 to Wednesday 02/03/2023, and the following indicators were achieved during this week:

1. The number of shares traded during this week amounted to more than (2) billion shares.

2. The value of shares traded this week amounted to more than (4) billion dinars.

3. The trading index in the market closed for the first session of the week at (644.26) points, while the index closed at the end of the week at (637.14) points, achieving a decrease of (1.12%) from its closing at the beginning of the session.

4. During the week, more than (2,600) buying and selling contracts were executed on the shares of the companies listed in the market.  LINK

The Central Obliges International Money Transfer Companies At An Exchange Rate Of 1320 Dinars To The Dollar

Baghdad today – Baghdad The Central Bank of Iraq issued a directive to international money transfer companies to adhere to the exchange rate of 1320 dinars to the dollar.

And a document issued on March 1, which was received b xchange rate of 1320 dinars / dollars for the final beneficiary of incoming and outgoing transfers

Specialists: The Chinese Yuan Will Not Change Anything In The Local Market

Economical  2023/03/02  Yesterday, Wednesday, the exchange rate of the dollar against the dinar rose in the local markets, to exceed the barrier of 1550 per 100 dollars, while specialists believe that the Chinese yuan will not change anything in the Iraqi market, since the dollar prevails.

Iraq continues to enhance the digitization of its financial and banking services, coinciding with the passage of two months since the start of implementing a series of financial reforms, in response to the measures taken by the US Federal Bank to limit dollar smuggling.

The central bank intends to regulate the financing of foreign trade directly from China in the Chinese yuan currency, in a step that is the first of its kind, as part of a package of measures aimed at facilitating access to currencies.

FOREIGN.

The most prominent of these measures was the imposition of an electronic trading platform for the sale of hard currency in the Central Bank of Iraq, allowing the United States to monitor the movement of money transfers in hard currency (dollars), and banning various companies and banks from dealing with them.

Financial expert Muhammad Al-Sheikhly attributed the continued existence of a difference between the official exchange rate for the dinar offered by the Central Bank at 1310 dinars to the dollar, and the black market trades exceeding 1520 dinars, to the lack of sales of the Central Bank of dollars through the official window, and the continued great demand for it in the market.

For his part, economist Nabil Al-Marsoumi explained that liberating Iraq from the US dollar is impossible, pointing out that the Chinese yuan will not change anything in the market.

IRAQI.

Al-Marsoumi said, "Iraq began diversifying its cash reserves five years ago, but the dollar prevails because oil revenues are in dollars and it has only a few Chinese yuan. Today, it is trying to restore the value of the dinar through a strategy that is being followed by other official banks in the Middle East."

He added, "The strategy includes relying on the Chinese yuan currency for the purpose of trade exchange with China, in addition to the euro, the Emirati dirham and the Jordanian dinar, as the Iraqi authorities seek to provide other foreign currencies for local dealings besides the dollar."

https://alsabaah.iq/72519-.html

The Central Bank Announces The Proceeds Of Selling The Dollar Through The Electronic Window

2023.03.01 - 13:23  Baghdad - people    The Central Bank of Iraq announced, on Wednesday, that today’s sales of dollars through the electronic window are 140 million and 390 thousand and 285 in the form of transfers and cash sales.    "Nass" channel on Telegram.. our latest updates

The Central Bank of Iraq’s sales schedule in dollars for today came as follows:

  The Central Bank announces the proceeds of selling the dollar through the electronic window Me_ga

https://www.nasnews.com/view.php?cat=103012

"Tidbits From TNT" Thursday Morning 3-2-2023

TNT:

Tishwash:  The Deputy Speaker of Parliament meets the President and members of the Association of Private Banks

First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, received in his office the head of the Iraqi Private Banks Association, Wadih Handal, and a number of members.

Al-Mandalawi said that the House of Representatives is following the procedures of the Central Bank and the government’s decisions seeking to develop and develop the local banking sector. Financial and banking, and combating the dangerous phenomena that threaten the security of the market and the citizen, especially currency smuggling, currency laundering, counterfeit currency, and others.

The first deputy called on local banks to take advantage of the Central Bank's initiative to support small and medium enterprises in various sectors to create job opportunities for young people, increase national income, and reduce dependence on oil as the sole source of financing the treasury in order to achieve economic stability, which will be an attractive environment for investors    link

Tishwash:  A leader in the new generation: Whoever does not want to pass the budget and participate in it proves that he is corrupt

The leader of the New Generation Movement, Omar Mama Korda, confirmed today, Thursday, that whoever does not want to pass the budget and participate in it proves that he is corrupt.

Korda said in an interview with Earth News Agency, "The Kurdish parties in the region are not of one opinion, as in the center and south," noting that "in the region, the movement of the new generation with the passage of the budget because it shows the government's road map and how the money is spent during the year set for it, but who does not want Passing the budget and participating in it proves that he is corrupt and does not want the government to have a budget until it has a road map.

He added, "In the region, during the past ten years, the government has not had any budget, and this paves the way for the parties in power to spend the money that is the people's money for the benefit of their political parties, and they dispose of it as they want."   link

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Tishwash:  Relationship leads bold steps to transform dealings into digital

The Governor of the Central Bank, Ali Al-Alaq, renewed his assertion of the serious endeavor to bring about a quantum leap in the field of financial technology. 

An official statement said, "Al-Alaq received the regional president of the global Visa company, Andrew Tory, and his accompanying delegation, and they discussed the support provided by the company to regulate the market and increase the acceptance of electronic collection, in support of the government's directions and the decisions it has taken in activating electronic payment through the use of technology provided by the company, as well as On improving the regulations and instructions for digital financial services,"

 Al-Alaq stressed that "the bank is supportive in its steps to expand the use of the latest digital technologies in the banking sector and enhance financial inclusion in Iraq."

Shift events

He continued, "The Central Bank seeks to make a quantum leap in the field of financial technology in the Iraqi banking sector by keeping pace with the latest international technologies."  link

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Tishwash:  Al-Rafidain launches the electronic system to combat money laundering and terrorist financing

AML & GOAML search and investigation system

In implementation of the directives of the Central Bank of Iraq and in compliance with and application of international standards and requirements and instructions issued by the Office of Combating Money Laundering and Financing of Terrorism....

And under the auspices and supervision of the Director General of the Rafidain Bank, Dr. Ali Karim.... the Director General of the Bank inaugurated the electronic search and investigation system for combating money laundering and terrorist financing Which was accomplished by a specialized company, with the cooperation and coordination of the Money Laundering Reporting Division in the bank, in accordance with local and international requirements.

The electronic system, which was implemented for the first time in the bank, allows it to be used to link the local and international ban lists electronically, to know the names of the prohibited, and to protect the bank and its financial accounts from people within the ban lists for the purpose of monitoring suspicious financial transactions and reporting them to the Anti-Money Laundering and Terrorist Financing Office, which is concerned with receiving reports and financial statements via the link.

The electronic communication with all the bodies that are required to report, whether local or international, exchange information with law enforcement agencies, and stand on suspicion of money laundering and terrorist financing. 

information Office 

Al-Rafidain Bank   link

Mot:  ...... Must be One of those ""Marital Thingies"" ~~

Mot: Funny How This Pops Up every Now and Then! ~~~

Iraqi News Highlights Wednesday Afternoon 3-1-23

Iraqi News Highlights Wednesday Afternoon 3-1-23

Tlm724 Administrator Bondlady’s Corner

Talabani: The Dollar Flees Through The Kurdistan Region To Turkey

Political | 05:40 - 01/03/2023   Baghdad - Mawazine News, the head of the Patriotic Union of Kurdistan, Pavel Talabani, confirmed, on Wednesday, that the dollar is smuggling through Kirkuk and Sulaymaniyah to Erbil and from there to Turkey.  Talabani said during his participation in the second annual Erbil Forum, "Turning Points and the Future of the Middle East," that "there are two intelligence services in Kurdistan, the first in Erbil and the second in Sulaymaniyah."

He added, "The Americans told us that they have tired the region for 30 years, and they are trying to unite us."  He pointed out, "The dollar flees through Kirkuk and Sulaymaniyah, to Erbil, and from there to Turkey." Ended 29 / H    https://www.mawazin.net/Details.aspx?jimare=220683

Finance And Parliament Are Discussing The Draft Budget

Political | 03:47 - 01/03/2023   Baghdad - Mawazine News,  Minister of Finance, Taif Sami, discussed with a parliamentary delegation, today, Wednesday, the programs included in the draft of the next budget law.

And the Finance stated, in a statement that Mawazine News received a copy of, that “The Minister of Finance, Taif Sami, received today a delegation of members of the House of Representatives, which included (Sami’a Ghallab / Aisha Al-Masari / Zaytouna Al-Dulaimi / Kamel Al-Aqili / Ahmed Rashid Al-Salman / Yusef Al-Kalabi). ".

During the meeting, the Minister of Finance expressed her appreciation for the efforts to strengthen the bonds of cooperation and joint coordination between the legislative and executive institutions, in a way that ensures the achievement of the goals of the government platform approved by the Parliament, and that would provide services to citizens and various segments and complete development projects in the interest of the national economy.

The ministry added, "The meeting witnessed a discussion of the most important axes related to financial and economic aspects, and focus on the need to redouble efforts between the Ministry of Finance and the Parliamentary Finance Committee, as well as discussing the most important programs included in the draft of the next budget bill, and reaching common visions with the aim of maturing the necessary laws to achieve the requirements of development." Comprehensive for the Iraqi economy.” Ended 29 / h   https://www.mawazin.net/Details.aspx?jimare=220669

Guterres From Baghdad: We Are Ready To Support The Government's Efforts To Fight Corruption And Diversify The Economy

political| 02:28 - 01/03/2023  Baghdad - Mawazine News  The Secretary-General of the United Nations, Antonio Guterres, expressed, on Wednesday, his aspiration for Iraq's participation in the water conference that will be held this month, while calling on the international community to support Iraq by addressing environmental challenges and diversifying the economy.

Guterres said in a joint press conference with Prime Minister Mohammed Shia al-Sudani: "I am happy to visit Iraq again, and today we see it different," stressing that "his visit to Baghdad comes to confirm the solidarity and support of the United Nations for Iraq."

He added, "I am encouraged by the formation of the new Iraqi government and its reform program," praising "the prime minister's commitment to addressing the challenges facing the country, including fighting corruption, improving services, and diversifying the economy."

He stressed that "the United Nations is ready to support the efforts of the Iraqi government in fighting corruption, diversifying the economy and creating job opportunities."

He expressed his aspiration for "Iraq's participation in the water conference that will be held this month," noting that "Iraq is among the countries most affected by climate change."

The Secretary-General called on the international community to "support Iraq in addressing environmental challenges and diversifying the economy."

He pointed out that "Iraq is important and central," praising "the Iraqi government's diplomacy on the basis of good neighborliness."

He expressed his "gratitude to the Iraqi government and people for their solidarity with the earthquake victims in Turkey and Syria," explaining that "Iraq will break the cycle of instability and fragility and move towards more freedom and peace."   https://www.mawazin.net/Details.aspx?jimare=220661

Parliamentary Oil: Increasing The Number Of Refineries Will Provide Iraq With $1.5 Billion Annually

Economie| 10:42 - 01/03/2023  Baghdad - Mawazine News   The Parliamentary Oil, Gas and Natural Resources Committee revealed, on Wednesday, the Ministry of Oil's intention to establish new refineries and rehabilitate the old ones, stressing that increasing their numbers will cover the country's need for derivatives, which annually provides the country with 1.5 billion dollars.

Committee member Zainab Al-Moussawi said, "The Ministry of Oil is seeking to increase the number of new refineries and rehabilitate the old ones," noting that "there are 14 refineries currently in Iraq, two of which are under construction, one in Al-Faw district in Basra and the other within Anbar province," according to the newspaper. official.

And she added, "The total production capacity of the operating refineries reaches one million and 336 thousand barrels per day, and with the introduction of the Karbala refinery, the production capacity will increase to the extent that will reduce the import of oil derivatives, which will add to the budget from one billion to one billion and 500 million dollars, which was drained annually in its import." ". Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=220636

The Head Of The Integrity Commission Stresses To The United Nations The Importance Of Working On The Files Of Recovering Money And Convicts

Iraq   Today, Wednesday, the head of the Federal Integrity Commission, Haider Hanoun, stressed the importance of working on the files of recovering money and convicts.

A statement by the Integrity Commission stated, “The head of the Federal Integrity Commission, Haider Hanoun, received the Deputy Special Representative of the Secretary-General of the United Nations in Iraq, Ghulam Muhammad Ishaq Zai, the Director of the United Nations Office on Drugs and Crime (UNODC) in Iraq, Ali Al-Barir, and the Deputy Resident Representative of the United Nations Program Development Program (UNDP) Ghamr Hany Deeb.

Hanoun stressed during the meeting, according to the statement, "the importance of working on the files of recovering funds and convicts, and intensifying efforts in the field of addressing inflated funds and illegal gain," noting that "the injunctive aspect of the commission's work is of great importance in strengthening the citizen's confidence in state agencies in general and agencies." particular oversight.

He drew attention to "the presence of international organizations in Iraq and their endeavor to provide expertise and experience," explaining that "the Commission's investigators need moral support, acquire skills and increase experience in the field of preventing and combating corruption and benefit from international experiences in that, and also need technical support by providing modern tools and devices that support them in investigation and investigation.

In turn, representatives of international organizations in Iraq referred to "the proposals that were submitted and presented to the Prime Minister, who referred them to the commission," noting that "work is underway to form a team from both parties to study them and then turn them into action plans and programs to be ready for implementation."

And he expressed "their readiness to provide moral support, training, imparting skills, and providing the staff of the Commission with expertise," stressing that "improving Iraq's position within the reports of international transparency indicators of corruption perceptions is by focusing on extradition, witness protection, and prevention of corruption and graft."

https://www.radionawa.com/all-detail.aspx?jimare=33601

A Package Of Measures To Expand The Outlets For Depositing Dinars And Selling Dollars

Iraq   Al-Rafidain Bank announced a package of measures to expand the outlets for depositing the Iraqi dinar and selling the dollar to travelers through the electronic platform of the Central Bank of Iraq.

And the media office of the bank stated in a statement, “As of Sunday, travelers must review the designated branches in Baghdad, which are (Palestine Street - Firdaus Square - Al-Wahda neighborhood - Officers’ role - Arab neighborhood - Al-Moheet - Al-Rafi’i) for the purpose of depositing and delivering cash amounts in those branches.” .

And he continued, "With bringing the official documents, which are (a valid passport - a travel ticket (travel ticket) and the visa (entry visa) that are required by the electronic platform and within a period of three days or less, before the date of travel indicated on the ticket, and then after that the traveler receives the value of The amount that was deposited with the card in dollars exclusively from the airport outlet.    https://www.radionawa.com/all-detail.aspx?jimare=33595

A New Rise In The Exchange Rates Of The Dollar In The Local Markets

Economie   Wednesday, March 1, 2023 Baghdad / National News Center  The National News Center publishes the exchange rates of the dollar against the Iraqi dinar on a daily basis, according to the variables of the currency exchange market in the capital, Baghdad, and the provinces of the country.

In Baghdad:  the selling price of the dollar is 156,000 for every 100 dollars, thus increasing by 1250 dinars from yesterday.  The purchase price of the dollar is 155,000 per 100 dollars

In the north:  the selling price of the dollar is 157,250 per 100 dollars,  the buying price of the dollar is 156,250 per 100 dollars

In the south, the selling price of the dollar is 156,000 per 100 dollars,  the buying price of the dollar is 155,000 per 100 dollars.

It is noteworthy that the exchange rates have increased significantly on a daily basis, after their decline about two weeks ago, due to government measures.    https://nnciraq.com/189966/

Iraqi Currency Auction Sales Of The Dollar Decreased By 40%

Posted On2023-03-01 By Sotaliraq   2023-03-01  The Central Bank of Iraq’s sales of dollars decreased in auction today, Wednesday, by 40%, to record 140 million dollars.

Shafaq News agency reporter stated that the Central Bank sold, during its auction today, 140 million 390 thousand and 285 dollars, a decrease of 40% compared to yesterday, Tuesday, in which sales amounted to 233 million 921 thousand and 34 dollars, which the bank covered at an exchange rate. The base amounted to 1305 dinars per dollar for documentary credits and international settlements of electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Our correspondent added that most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits), amounting to 99,890,285 dollars, while the remaining 40,500,000 dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought the cash dollar amounted to 14, while the number of banks that responded to requests to strengthen balances abroad reached 24, while the total number of exchange and mediation companies participating in the auction was 133 companies. LINK

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Wednesday Morning Iraq Economic News Highlights 3-1-23

Wednesday Morning Iraq Economic News Highlights 3-1-23

Deputy: The Decision To Change The Exchange Rate Forced The Government To Conduct A Comprehensive Review Of All Budget Items

Iraq   14:36 ​​- 2023-02-28  Representative Nazem Al-Shibli attributed, on Tuesday, the reason for the delay in the arrival of the budget to parliament by making some reforms and changes being carried out by the government after the official reduction of the dollar exchange rate.

Al-Shibli said in a press statement, "The decision to change the exchange rate of the dollar forced the government to conduct a comprehensive review of all items of the budget, as the main reason was the delay in sending it to Parliament," noting that "the government has reached the final technical and mathematical stages, and its arrival in Parliament is very close."

He added, "The negotiations between the government and the region have no impact on the progress of technical procedures in accordance with the government's vision and in accordance with its government program."   https://kirkuktv.net/AR/Details/13560

Al-Zubaidi: Evidence Of American Good Intentions Depends On The Federal Government's Non-Adherence To Iraqi Revenues

Today 08:51   A member of the Al-Fateh Alliance, Ali Al-Zubaidi, affirmed that proving America's good intentions depends on the federal government's non-adherence to Iraqi oil revenues, pointing out that America continues to interfere in all files, which will not bring good to Iraq.

Al-Zubaidi told Al-Maalouma, “There is clear American domination over Iraq, especially in the political, military and economic fields, as Washington's ambassador to Baghdad plays the role of prime minister, and this matter does not bode well for the country. "

He added, "Proof of good intentions by the US administration is by sending money and oil revenues directly to Baghdad through the Federal Bank, especially since Iraq does not need someone to protect its money."

And he indicated that "most countries have extinguished their debts to Iraq, in addition to settling financial matters with many countries during the Paris conference during the reign of Adel Abdul-Mahdi, and therefore Iraq no longer needs to put its money in the US Federal Bank to be transferred   LINK

Rashid Defines The Challenges Of Iraq.. And Guterres: Conditions Here Have Changed For The Better

Time: 03/01/2023 13:43:05   Read: 429 times  {Politics: Al Furat News} The President of the Republic, Abdul Latif Jamal Rashid, received today, Wednesday, at the Baghdad Palace, the Secretary-General of the United Nations, Antonio Guterres, and his accompanying delegation, which included the Under-Secretary-General of the United Nations for Political Affairs and Peacebuilding, Rosemary Di Carlo, and the Special Representative of the Secretary-General of the United Nations. In Iraq, Jeanine Plasschaert.

During the meeting, the two sides discussed, according to a presidential statement, "the efforts made to consolidate security and stability in the country, the work mechanisms of the United Nations Mission in Iraq, and the role it plays alongside national efforts and the role of friendly organizations and countries in supporting the displaced and the displaced."

The President of the Republic Iraq looks forward to the support of the international community, cooperation and joint action to respond to the humanitarian needs of the displaced families.

Rasheed added that there are thousands of displaced families living in very tragic and complex conditions, and we hope to cooperate with the United Nations to resolve this humanitarian issue by returning the displaced to their areas of residence and rebuilding the city of Sinjar in accordance with the agreement Sinjar

On the other hand, he pointed out that Iraq is one of the countries most affected by climate change, as it suffers from water scarcity, drought and desertification, which negatively affected the various aspects of life, indicating that Iraq seeks to obtain a fair share of water.

In this context, the President of the Republic expressed his thanks and appreciation to the Secretary-General of the United Nations for his invitation to attend and participate in the Water Conference for Sustainable Development, wishing the conference success and contributing to addressing the problem of water scarcity.

Rashid touched on the ambitious government program that includes consolidating security and stability, curbing corruption, rebuilding infrastructure, providing the best necessary services to Iraqis, creating good investment opportunities to operate factories and factories and create new job opportunities, as His Excellency indicated that there are continuous efforts to maintain dialogue between the region and the federal government, For the sake of understanding and developing effective solutions, as well as working on an agreement to approve the oil and gas law.

For his part, the Secretary-General of the United Nations expressed his happiness at visiting Iraq, which he described as the best visit. He also expressed his pleasure at meeting His Excellency the President of the Republic, praising the state of security stability in the country and the efforts made by the President to alleviate the suffering of the displaced.

He stressed that the United Nations stands by Iraq and supports all endeavors and efforts to protect its security and stability, pointing to the international organization's commitment to providing support to the displaced and ending their human suffering.

Guterres expressed his happiness at Iraq's participation in the water conference in New York, pointing out that conditions in Iraq have now changed for the better, noting that "the Iraqis are united and their unity and cooperation prevent foreign interference."

In this context, he affirmed the support of the international organization to the Iraqi government

The two sides also discussed the latest political developments and efforts to enhance peace and security at the regional and global levels, in addition to issues of common concern.   LINK

The Central Bank Announces The Proceeds Of Selling The Dollar Through The Electronic Window

2023.03.01 Baghdad - people  The Central Bank of Iraq announced, on Wednesday, that today’s sales of dollars through the electronic window are 140 million and 390 thousand and 285 in the form of transfers and cash sales.  "Nass" channel on Telegram.. our latest updates

The Central Bank of Iraq’s sales schedule in dollars for today came as follows:

The Central Bank announces the proceeds of selling the dollar through the electronic window Me_ga

https://www.nasnews.com/me_ga.php?id=45380

https://www.nasnews.com/view.php?cat=103012

Deputy: Reducing The Price Of The Dollar, The Last Arrival Of The Budget On Time

438   Representative Nazem Al-Shibli attributed, on Tuesday, the reason for the delay in the arrival of the budget to parliament by making some reforms and changes being carried out by the government after the official reduction of the dollar exchange rate.

Al-Shibli said in a press interview seen by “Takadam” that “the decision to change the exchange rate of the dollar forced the government to conduct a comprehensive review of all items of the budget, as the main reason was the delay in sending it to Parliament,” noting that “the government has reached the final technical and computational stages, and that its arrival in Parliament is close.” very ".

He added, "The negotiations between the government and the region have no impact on the conduct of technical procedures in accordance with the government's vision and in accordance with its government program."     https://takadum-news.com/archives/151743

The Exchange Rates Of The Dollar Exceed 15,500 Dinars In The Markets Of Baghdad And Erbil

2023-03-01 01:33  Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Wednesday, in the main stock exchange and local markets in the capital, Baghdad, and in the Kurdistan Region, to exceed the barrier of 15,500 thousand dinars per 100 dollars.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, this morning, an exchange rate of 155,500 dinars against 100 dollars, while yesterday morning, prices were 153,900 dinars against 100 dollars.

Our correspondent indicated that the buying and selling prices rose in exchange shops in the local markets in Baghdad, as the selling price reached 156,500 dinars for every 100 dollars, while the purchase price reached 154,500 dinars.

In Erbil, the capital of the Kurdistan Region, the dollar prices also recorded an increase, as the selling price of the dollar reached 156,100 dinars for every 100 dollars, and the purchase price reached 155,100 dinars.  LINK

Sudanese Advisor Explains The Size Of Iraq's Reserves Of Foreign Currency And Monetary Gold

Economie   19:12 - 2023-02-28  Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarified the size of Iraq's reserves of foreign currency and monetary gold, and while he indicated that the management of foreign reserves is subject to international standard investment guides, he clarified the mechanism for recovering looted and frozen funds outside Iraq.

Salih said, in a press interview, that "Iraq's foreign currency reserves have reached their highest levels in Iraq's financial history and have now touched $115 billion," stressing that "the monetary authority in Iraq has high efficiency in managing reserves."

He added, "The coverage of reserves from foreign exchange to the exported national currency amounts to approximately 150%, which is a very high percentage and represents optimal efficiency in reserves management standards, in addition to covering the external debt that is obligatory to pay Iraq by about five times."

He stated, "About half of the amount of reserves is in the currency of the United States of America (US dollar), and a high percentage of the country's dollar reserves is being invested in safe financial instruments, most of which are short-term United States Treasury bonds, which carry interest of more than 4% annually, currently on average, and have a very advanced credit rating." And it can be converted into liquid dollars immediately, when needed.

And he stated, "The management of foreign reserves is all subject to international standard investment guides issued by multilateral international financial institutions, within the framework of managing an optimal investment portfolio that avoids risks, the most important of which is avoiding legal risks and the risks of fluctuations in exchange rates, interest rates and other operational risks."

He continued by saying: “The rest of the remaining foreign reserves, which are 50% (except for the dollar), are deposited with reliable European global central banks and a global monetary institution, and in currencies such as the pound sterling, the European euro, the Chinese yuan, the Japanese yen, and the currency of the International Monetary Fund called special drawing rights units, in addition to gold.” Cash in excess of 132 tons of gold or more as officially declared and deposited in safe global gold vaults.

He pointed out, "There are reinforcements in foreign exchange for Iraqi private banks in US dollars, and they are made through the window of the Central Bank of Iraq and the current compliance platform, and are deposited with private bank correspondents in banks abroad, and they are intended to cover documentary credits or documentary transfers for the purposes of financing private trade in goods." And services, as well as payment of electronic payment card dues, in addition to the deposits of the Iraqi Trade Bank with its correspondents, which is concerned with opening external credits to finance foreign trade for government imports.

He continued, "All of these external deposits are moving balances, and their average is no less than $12-15 billion."

At the same time, regarding the frozen Iraqi funds, he indicated that "the pursuit of the Iraqi state's funds that date back to the time of the former regime or the operations of encroaching on public money as a result of corruption after the year 2003 are all subject to the provisions of Law No. 7 of 2019, which is the amended money recovery fund law that is currently administered." From a board of directors headed by the head of the National Integrity Commission, which takes recovery decisions according to legal and administrative work mechanisms, in cooperation with the state’s oversight agencies.

He explained, "The fund's management is responsible for providing the House of Representatives with periodic reports on its follow-ups in recovering public money, especially outside the country."

He pointed out, "Article 14 of Law No. 7 of 2019 obligated the government, when concluding investment or economic agreements with any country that has funds for Iraq, to ​​include the provisions of the Money Recovery Law, including funds that fled after 2003 due to corruption operations."

Regarding China's influence on the world economy and the central bank's decision to finance imports from it in yuan, he explained that "China has contributed to lowering levels of consumer basket prices in the world and has led price stability in the world during the last two decades, due to its high competition and the invasion of its goods into world markets at low prices, generating movement It is called (disinflation or moderation of growth in prices around the world).

He added, however, by saying: "China is still the subject of a complaint and dispute before the World Trade Organization due to its fierce competition, which has reached the point of commodity dumping, which has caused a drop in prices globally to indicate whether it is a result of the efficiency of the Chinese economy or as a result of the devaluation of the Chinese currency to the extent that its goods invaded the world's markets." He noted that “equipment from the Chinese market is still the cheapest compared to other world markets.”     https://kirkuktv.net/AR/Details/13567

"Tidbits From TNT" Wednedsay Morning 3-1-2023

TNT:

Tishwash:  China announces an oil discovery

 The Chinese National Offshore Oil Company (CNOOC) announced, in a statement, that it had discovered a major oil field in the Gulf of Bohai in the Yellow Sea, with reserves of 100 million tons of   crude.

And a statement posted on the official website of the Chinese company said: “On the first of March, the China National Offshore Oil Corporation announced that the Bozhong 26-6 field with oil reserves of 100 million tons was discovered in the Bohai Bay (Yellow Sea on the coast of northeastern China).”

The company estimates that the well in the field is capable of producing about 2,040 barrels of crude oil and 320,000 cubic meters of gas per day.

The oil field is located in the southern part of the Bohai Bay in the Yellow Sea, about 170 kilometers from Tianjin.  link

CandyKisses:  Gold Continues To Climb For A Third Day As Dollar Declines

Gold prices continued to climb for the third consecutive session, on Wednesday, as the dollar fell, but fears of US interest rate increases against the backdrop of high inflation globally curbed gains.

Spot gold rose 0.2 percent to $1831,43.0536 an ounce by 0 GMT. U.S. gold futures rose 1.1838 percent to $90,<>.<>.

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CandyKisses:  Britain: Our companies want to invest in Iraq

Economy News Baghdad

The British Minister of State for the Middle East and South Asia, Tariq Ahmed, confirmed that British companies want to invest in Iraq after the improvement of its security and economic situation.

A statement by the Iraqi Foreign Ministry said that "Deputy Prime Minister and Foreign Minister Fuad Hussein received the British Minister of State for the Middle East, South Asia and the United Nations, Lord Tariq Ahmed, and during the meeting they discussed bilateral relations and aspects of cooperation between the two countries."

The statement quoted the British Minister of State as saying, "Iraq is witnessing a tangible improvement in its security and economic situation, stressing the British government's keenness to provide all forms of support to the Iraqi government in various fields."

The British official also expressed "the desire of British companies to invest in Iraq," stressing "the need to continue cooperation and joint coordination in the field of combating terrorism and defeating the extremist ideology adopted by the terrorist organization ISIS."

For his part, Fouad Hussein said that "Iraq is looking forward to moving forward to conclude a partnership and cooperation agreement between the two friendly countries," stressing "the need to work to strengthen economic and trade relations."

The Iraqi foreign minister called on British companies to "increase their presence in Iraq, as well as the need for the United Kingdom to contribute to the development of the Iraqi banking sector, issues related to the environment and confronting climate change, in addition to the energy sector and associated gas investment."

The foreign minister explained that "Iraq is in the process of approving the budget law for the current year, which included the allocation of large sums for the implementation of many investment and service projects, which is the main goal set by the current government."

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Tishwash:  Al-Sudani: We are preparing to announce the Baghdad 3 conference with a completely different vision

The Prime Minister: We await the support of the United Nations to support economic reforms and fight corruption.

The Prime Minister: We will continue to establish the equation of stability. The Prime Minister : Iraq is a key to

the solution in the region, and we are working to bring together the parties. The Prime Minister: Iraq enjoys natural and human resources and a geographical location. The Prime Minister: We are working on preparing for the third edition of the Baghdad Conference, according to the vision of the new government.

This is a different article

Today, Wednesday, the Prime Minister, Muhammad Shia Al-Sudani, received the Secretary-General of the United Nations, Antonio Guterres, who arrived in the capital, Baghdad, yesterday evening, on an official visit.  

A statement by Al-Sudani's office, which "NAS" received a copy of, (March 1, 2023), stated that "during the meeting, they discussed the bilateral relations between Iraq and the international organization, and reviewed prospects for cooperation in the files of the displaced and the required international role, and facing climate challenges and the need for international assistance in this file, As well as Iraq's efforts to consolidate a culture of human rights and promote sustainable development, and its pioneering role in reducing tensions in the region and ensuring its stability.    

The Prime Minister thanked the United Nations Mission in Iraq (UNAMI) and its efforts in assisting Iraq in its various stages. His Excellency stressed that Iraq has overcome its political crisis, and its efforts have focused on economic and environmental challenges, and the government has set several priorities to meet these challenges, according to the statement.  

The statement added, "Al-Sudani stated: Iraq's victory over the terrorist gangs of ISIS happened due to the cohesion of Iraqis and their belief in peaceful coexistence, so that Iraq today becomes the key to resolving many of the region's crises, and to play a positive role in settling regional crises."  

And the statement continued, "During the meeting, the Prime Minister reviewed the government's plans to develop the youth sector and invest in their capabilities and capabilities, and its endeavor to diversify the economy, as well as its adoption of the principle of multiple economic partnerships in its foreign relations."   

For his part, the Secretary-General of the United Nations described his visit to Iraq as distinguished, and affirmed the support of the international community for Iraq in the file of climate challenges and the file of the displaced, praising the government's priorities and its focus on the file of combating corruption and the price of its decision to return the displaced to their areas, describing it as a courageous and positive decision, according to the statement.  

Guterres affirmed, "The United Nations is ready to support the government of Iraq in the face of the challenges it faces, expressing optimism about the efforts made by the Iraqi government in all fields."  link

Mot:  what "cleaning" means... to the ""Wee Folks"" ....

Mot:  . the RV Kid!! --- Hope He doesnt get any Older!! LOL  

Iraqi News Highlights Tuesday Evening 2-28-23

Iraqi News Highlights Tuesday Evening 2-28-23

Tlm724 Administrator Bondlady’s Corner

Details Of The Meeting Of The First Deputy Speaker Of Parliament With The Directors Of Private Islamic Banks

Money and business  Economy News – Baghdad Today, Tuesday, First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, considered the banking sector as one of the most important factors in advancing the economic reality of countries, calling on their administrations to exercise their active role in supporting the government and its decisions and endeavors aimed at regulating the banking reality, stabilizing the market and fighting currency smugglers.

A statement by Al-Mandalawi's office stated, "This came during an expanded meeting that (Al-Mandalawi) held today, with a number of directors of private Islamic banks, in the presence of a number of heads of parliamentary committees and representatives, to discuss a number of files related to activating some laws related to the work of banks and monetary policy."

Al-Mandalawi called on banks to "launch advanced banking services to serve citizens and economic sectors, and expand them to include all the promising opportunities that await to be delved into, provide direct support to them, and work to contribute to the creation of discreet development to serve all segments."

"Studying the possibility of implementing the decision to reduce the interest rate on loans granted to citizens in general and the industrial and commercial sectors in particular."

Views 38  Added 02/28/2023 - 5:55 PM  https://economy-news.net/content.php?id=32721

Oil Prices Are Rising Again In The Global Markets

Economie| 09:10 - 02/28/2023  Follow-up - Mawazine News  Oil prices rose, on Tuesday, after Russia plans to reduce its oil exports.

This comes after oil prices witnessed a decline yesterday, Monday, due to concerns about increasing interest rates, which led to a decline in demand, and expectations of an increase in US crude stocks.

At 04:25 GMT, Brent crude futures for April rose to $82.59 a barrel, up 14 cents, and US West Texas Intermediate crude futures rose 24 cents, to $75.92 a barrel.

https://www.mawazin.net/Details.aspx?jimare=220530

The Secretary-General Of The United Nations Arrives Today In Baghdad On An Official Visit

Political | 04:41 - 02/28/2023  Baghdad - Mawazine News,  the spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahhaf, confirmed today, Tuesday, that the Secretary-General of the United Nations, Antonio Guterres, will arrive today in Baghdad on an official visit.

Al-Sahhaf said in a statement, a copy of which was received by Mawazine News, that "The Secretary-General of the United Nations, Antonio Guterres, will arrive today in Baghdad on an official visit, and he will meet the three presidencies and Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein." Ended 29 /    https://www.mawazin.net/Details.aspx?jimare=220574

Parliament Urges The Launch Of Advanced Banking Services To Serve Citizens And Economic Sectors

Political | 05:47 - 02/28/2023   Baghdad - Mawazine News,First Deputy Speaker of Parliament Mohsen Al-Mandalawi called today, Tuesday, for the private banking sector to support the government's efforts and work to stabilize the market.

The media office of the First Deputy Speaker of the House of Representatives said, in a statement, a copy of which was received by Mawazine News, that "Al-Mandalawi held an extensive meeting with a number of directors of private Islamic banks, in the presence of a number of heads of parliamentary committees and representatives, to discuss a number of files related to activating some laws related to banking and monetary policy.

Al-Mandalawi stressed, according to the statement, that "the banking sector is one of the most important factors in advancing the economic reality of countries," calling on their administrations to "exercise their active role in supporting the government and its decisions and endeavors aimed at regulating the banking reality, stabilizing the market and fighting currency smugglers."

He called on banks to "launch advanced banking services to serve citizens and economic sectors, and expand them to include all the promising opportunities that await to be delved into, provide direct support to them, and work to contribute to the creation of discreet development to serve all segments," calling on the administration of the Central Bank, banks, and those concerned with financial and monetary policies to study and consider the possibility Implementation of the decision to reduce the interest rate on loans granted to citizens in general and the industrial and commercial sectors in particular.    https://www.mawazin.net/Details.aspx?jimare=220580

External conversion controls for the year 2023 
February 28, 2023      »External conversion controls for the year 2023.. For knowledge, click here
https://cbi.iq/static/uploads/up/file-16775654148666.pdf
 
https://cbi.iq/news/view/2253

INCOMPLETE and APPROXIMATE TRANSLATION of
https://cbi.iq/static/uploads/up/file-16775654148666.pdf 
 
 [Begin Cover page]
 
According to Fanon, the Central Bank of Iraq No. (217) for the year 4100, for the purpose of achieving the goals of the central bank
 
By enhancing the role of the banking system and non-banking financial institutions in securing foreign currency to the beneficiaries »
 
And the financing of terrorism (59) for the year :copyright: 1110 by Sling al on the requirements of the Work Authority in a manner consistent with the directions
 
This bank adopts the attached external conversion controls.  with respect.
  [Page 5-1 begin]
 
 25 1
According to the Law of the Central Bank of Iraq No. (57) for the year 5100 average »and in line with what was stated in Article (54)
 
From it, which allowed the Central Bank of Iraq to buy and simple and unconditional sale of foreign criticism »and with the aim of facilitating Foreign trade financing procedures and the Central Linc goals by enhancing the role of the banking system And the non -banking financial institutions in securing foreign currency to the beneficiaries"
 
leading to maintaining stability The exchange rates of that currency from AIL and simplifying the sale procedures, including monitoring mechanisms and verification of sales operations Daily on the other hand, with the need to adhere to the requirements of the Anti -Money Laundering and Terrorism Law No. (1)

Ys Yo Aud decides to adopt the controls below:
 
Dho external conversion controls for the year "01"
 
1. The authorities are allowed to be legally funded through the electronic platform
 
a. All types of companies registered with the Companies Registration Department in the Federal Ministry of Commerce.
 
The projects registered with the General Directorate of Industrial Development in the Ministry of Industry and Federal Minerals.
 
ZT Simple companies founded from the Chambers of Commerce (under a certified establishment contract from the notary)
 
It does not exceed the amount of (1,000) dollars (two hundred thousand dollars per month).
 
D, the branches of companies, 1 m, registered with the 4 JA circle (companies in the Federal Ministry of Commerce.
 
H. Investment projects of all kinds licensed by investment bodies.
And the. Agricultural and animal projects bitter. A privatization of the wealth circles of Anniya or No agricultural investments or Latter d In the Ministry of Federal Agriculture.
 
G. The original scientific offices from the Pharmacists Syndicate.
 
H. The constant international factories are appointed from these factories for the purposes of work in Iraq; And the agents who
 
I. Registered global companies registered according to the Wneak Commercial Agency Law.
Establishment or license is proven by the relevant sectoral bodies translated into Arabic translation Agi LD
 
This will be for a period ending in 77/17/913, provided that these bodies register with the sectoral authorities
 
The counterpart in the federal government, where it will not be allowed to participate in the electronic platform after the aforementioned date above.  5-1
 
 [5-2 begin]
  
If only a few signings:: Mate 1 1?.
 
Transactions permitted legally in foreign currency
 
a. Import goods and goods that are allowed to import legally.
 
B. Buying and equipping the allowable services, including shipping services.
 
C. Requests that are received to the central bank from governmental and public institutions and self -funded bodies
Her needs that have no allocation in dollars within the federal general budget of the state »is enhanced by documents Official that supports these requests.

Dr.. Enhancing the open sub-account balances of the GB Morgan Bank for banks and payment companies
 
H. YY balances of financial institutions that have a major membership of international financial transfer companies
 
(Western Yunin »Money Gram and others) to settle their obligations with those companies after submitting the required statements.
 
And the. Transfers on fundamentalist transactions to buy real estate abroad and as follows:
 
First: That the transfer of the same customer's account in the foreign country is required to purchase the property in it or for an account
 
Real estate brokerage companies or law firms operating in those countries after verifying a name
The customer in the contract signed with the operating brokerage company/law firm in the country to purchase the property  In which.,
 
Second: Providing what is proven permanent or temporary residency from the competent authorities in countries whose laws allow this
 
This is not required in countries whose laws do not allow residency before owning the property.
Fourth: That the customer submit to the bank what proves that he purchased the property in the foreign state within a maximum period Six months from the date of conversion.
 
G. Treatment abroad and the conversion is from the customer's account or one of his relatives from the first and second degrees to Hospital account abroad after submitting a medical report from | For the concerned hospital.
 
H. Pay the academic wages abroad and the transfer from the student's account or one of his relatives is of the first degree or The second is to the account of the university in which he studies or for the student himself in the country of study after submitting what cardy Its registration in the study is certified by the Iraqi Cultural Attaché in the country of study.
 
I. Transfers associated with foreign investments in Iraq and as follows:
 
First: The capital of the investment projects granted by investment vacations under the Investment Law (11)
 
For the year 51000 and its amendments (after proving its entry from outside Iraq for this purpose earlier) and returns: Investment projects after submitting audited financial data proving the profit achievement and what proves the settlement of obligations Investor with the Iraqi government and the rest of the relevant authorities inside Iraq.
 
Second: Transferring the returns of selling stocks to the Iraqi residing abroad or foreign (the origin of the value, in addition to its returns It was found) if it is sold to provide support from the Iraq Stock Exchange.
5-2

 [Page 5-3 begin]
 
J. The compensation decided or approved by Iraqi official bodies for foreigners, or for Iraqis residing abroad.
 
SS shareholders' profits in companies registered in Iraq after submitting authentic and authentic financial accounts in addition to Providing what is proven to prove the tax disclosure of the company and the minutes of the General Assembly meeting with the approval of distributions or a council Administration;
 
And that the transfer be after proving the residence of the applicant abroad and the transfer is for an open account to. Financial proceeds amounts (selling real estate, other assets or their returns) to the Iraqi residing abroad That the transfer from his account or the account of his agent in Iraq to his account or account of his company abroad is exclusively.
 
M. Related payments related to banking and credit facilities that the customer associated with banks
Outside Iraq (the origin of the commitment or the benefits due to it)  »This requires that the bank retain a documented approval From the customer includes the following:
 
First: The loan contract signed between the customer and the bank that gave him credit banking facilities outside Iraq with the details and the reason for which the loan was granted.
 
Second: Providing what is proven to enter the origin of banking and credit facilities to Iraq through the agency Banking or goods to Iraq (in case the facilities are goods).?.
 
Capitalization procedures in the electronic platform
 
a. Aad requests to bank customers who want to buy the dollar for the purpose of financing their external imports through the platform Provided that the data includes the transfer process, including (customer data, the applicant, the beneficiary, the beneficiary data Final; Commercial menu data »Intermediate and correspondent bank data);
 
The equivalent is bound by the dinar on The ongoing bank accounts open to the central bank/the type of account designated for subscription operations Platform;
 
Provided that the bank is committed not to change the final beneficiary from the transfer process after subscribing to Platform.

B. The jerseys must be promoted to purchase via the platform with the following attachments:
 
First: The Commercial List (the bill), provided that it is a permeable date that does not exceed six months from the date of construction The demand for the platform; And twelve months for the commercial lists for making machinery and lines Production »It may be in a preliminary list, final list, postponed payment list, or a purchase contract.
 
Sources of his imported customers and legitimacy and adhere to the requirements of the Anti -Money Laundering Law Terrorism financing No. 79 of the year 5110,
 
and otherwise, the bank bears all the legal consequences
Accordingly, the pledge is signed by each of (the authorized manager, regional director, or those on behalf of Compliance Observer »Anti -Money Laundering Officer» Risk Management Officer) .
 
Third: According to Form No. (1), it is attached to each request to transfer (a documentary approval or external transfer) that He conducted the search, investigation, and verification of all parties related to the transfer process, including   5-3
  
[Page 5-4 begin]
 
The final beneficiary on local and international sanctions lists, especially SESS IL LY (OFAC) lists
Terrorist money, when submitting the transfer request via the platform.
 
Fourth: A deposit is under the system
 
Devoted for subscription operations in the platform; It should be three days before the date of implementation
 
The sale process or according to what the Central Bank decides; It shows the date and type of participation..
 
The obligations of banks participating in the electronic platform
 
Banks are committed to applying the following:
 
a. Apply the principle of "I know your customer" according to the due care procedures stipulated in the Anti -Washing Act Money and terrorist financing No. 1 of 5110 and related compliance controls.
Which discloses the aspects of using the amounts transferred by the central bank.
 
C. For the purposes of documentary credits and external transfers used to finance the import of goods or services

Dr.. What supports the purchase of the goods or AGAI service (the commercial menu that then on the platform) and this is The menu is the only requirement required when creating a transfer request on the platform.
 
H. Shipping policy (in case of transfers to import goods), provided that the name of the transformer is mentioned either In the field (the charged side has the good Camera and Jupiter); Provided that the shipping policy is issued by the same state to which it was transferred.
 
If It was issued by a country other than the one that was transferred to, and it calls for proving the relationship between the two sides) And the.
 
What proves the receipt or provision of the service to the customer (in the event of transfers for the purposes of services) and it is a proof document
 
G. Documentary accreditation documents (in the case of credits to import goods) and these documents are The only requirement to check the subsequent transfers by documentary credits.
 
H. Swift messages for the implementation of the conversion process.
 
I. This supports the bank's conduct of searches, investigation and verification of all relevant parties
With transfers, including the beneficiary on local and international sanctions lists, especially lists (0174200)) and lists The parties related to both English and Arabic.
5-4
 
  [Page 5-5 begin]
 
Final rulings :copyright:
 
a. This bank guarantees that the customer data participating in the electronic platform with any party is not shared
 
B. The central bank sells foreign currency according to the official price announced by it », provided that it does not exceed a margin The dollar was sold by the bank to its customer for (10) dinars (ten dinars) per dollar.
 
C. Requests to transfer foreign currency on the electronic platform are submitted two days before the date of implementation The transfer process, or according to what the central bank decides.
 
Dr.. Any sale or purchase of foreign currency is excluded from the controls mentioned in these controls.
 
H. In the event that it is proven that the bank is transferred to any person or entity subject to local or international sanctions They are deprived of subscribing to the window of foreign currency permanently.
 
On the electronic platform to the central bank and their receipt by it, it does not represent an automatic acceptance of these documents And the data or ratification of health, as these documents and data are subject to scrutiny in the way and mechanism And the time set by the central bank.
 
G. Cases that have not been mentioned in the transactions allowed legally are studied under these controls before The relevant departments, and each case is subjected to the administration of the central bank to decide on it.
 
H. These controls are implemented as of the date of starting the electronic platform of external transfers.
 
LB cancels the instructions for buying and selling foreign currency for the year 1711.
 
Governor Agency  Chairman of Board of Directors   Ina l   5-5  

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Some "Vietamese News" Posted by Henig at KTFA Tuesday 2-28-2023

KTFA:  Vietnam:

Henig:  January surplus signals good foreign trade year

06:00 | 27/02/2023

(VEN) - Vietnam’s total import-export value in January 2023 was estimated at US$46.56 billion, with imports reaching US$25.08 billion, and exports US$21.48 billion, yielding a trade surplus of US$3.6 billion.

Vibrant foreign trade

Positive signs of import, export activities in the first month of the year promise satisfactory results of foreign trade throughout 2023.

The border crossings with China in Quang Ninh, Lao Cai and Lang Son provinces have resumed busy operations after the week-long Lunar New Year (Tet) holiday (January 20-26). On the morning of January 28, 120 trucks carrying import, export goods passed Bac Luan 2 Bridge and pontoon bridge Km3+4 Hai Yen of the Mong Cai International Border Crossing in Quang Ninh Province.

A representative of the Customs Division of the Lao Cai Border Crossing said that during the seven-day Lunar New Year holiday, some 285 customs clearance declarations were received at the Kim Thanh Border Crossing. Given these positive signs and easing of China’s COVID-19 prevention policy, import-export activities through the Lao Cai crossings are expected to thrive in 2023.

On January 28, China resumed customs clearance for import-export activities through five Lang Son Province border crossings: Huu Nghi, Tan Thanh, Chi Ma, Dong Dang, and Coc Nam.

Business confidence

In terms of business activities after the Lunar New Year holiday, the Hoa Phat Group Joint Stock Company, for example, received orders for exports to the US, Canada, Mexico, Puerto Rico, Australia, Belgium, Malaysia, Hong Kong (China), and Cambodia.

Businesses have set export targets for 2023. Vu Duc Giang, President of the Vietnam Textile and Apparel Association, said the textile and garment sector expects its export value to reach US$47-48 billion. According to him, this target is based on the following factors: 1) businesses have begun to shift production from knitting to shuttle weaving; 2) businesses are seeking small orders with quick delivery; and 3) export markets have been diversified, including those in the former Soviet Union, Africa, and the Middle East. China is also a major export market of Vietnamese textiles and garments.

Do Ha Nam, Vice President of the Vietnam Food Association (VFA), said rice exports are forecast to yield satisfactory results in 2023, especially in the winter-spring crop.

However, experts are urging farm produce exporters to tighten controls and use suitable preservation technology to ensure product quality and origin traceability, and to harvest and transport fresh farm produce to processing factories during the shortest possible time.

The Ministry of Industry and Trade is prioritizing major exports with significant competitive advantages, such as electronics, textiles, garments, leather, footwear, and wood products, along with diversifying and improving product quality.

Phuong Lan    LINK

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Henig:  EU manufacturers eye offshore wind turbine plants in Vietnam

09:28 | 28/02/2023

European manufacturers are considering investing hundreds of millions of dollars in Vietnam to build wind turbine plants as the country gears up to exploit its large untapped potential in offshore wind, Reuters cited sources familiar with the situation as reporting.

According to the World Bank Group, Vietnam is seen as a potential major player in the sector because of its strong winds in shallow waters near coastal, densely populated areas.

Three industry sources, who declined to be named because the matter was confidential, named Danish turbine maker Vestas as one of the potential investors. The companies were looking for sites near ports but talks with local authorities and industrial parks were still preliminary as investors were waiting for the country to approve clear rules on offshore wind farms.

"We expect important investments to be decided this year by major global players in the offshore wind sector for the manufacturing of wind turbine components and Vietnam stands a good chance to welcome these," said Bruno Jaspaert, director of DeepC, an industrial zone in northern Vietnam.

Speaking on the sidelines of a wind conference in Hanoi on February 23, Erik Kjaer of the Danish Energy Agency said Vietnam has a strong steel output, therefore it would make sense to invest in the country as steel is key to making turbines.

Source: VNA     LINK

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Henig:  Vietnam, Belgium step up scientific-technological cooperation

06:00 | 28/02/2023

Vietnam wants to step up cooperation with countries that have strengths in science-technology like Belgium, Minister of Planning and Investment Nguyen Chi Dung has said.

Vietnam wants to step up cooperation with countries that have strengths in science-technology like Belgium, Minister of Planning and Investment Nguyen Chi Dung has said.

At working sessions with Belgian partners, including Hub.Brussels, Interuniversity Microelectronics Centre (IMEC) and John Cockerill Group in Brussels on February 20, Dung said Belgium has substantial potential to cooperate and support Vietnam in new technologies and renewable energy, especially circuit manufacturing.

Dung led a delegation from ministries, innovation centres, research institutes and universities to Belgium from February 18-21, aiming to concretise the outcomes of Prime Minister Pham Minh Chinh's visit to the European country in December 2022 regarding innovation cooperation.

Hub.Brussels, the Brussels Agency for Business Support, offers a wide range of free advice, services and tools to help projects be successful.

Dung lauded cooperation between the agency and the Vietnam National Innovation Centre (NIC), which have agreed on experience exchange in order to raise innovation and startup capacity of Vietnam and the European Union (EU).

He suggested Hub.Brussels help NIC in operations, and opened its representative office at NIC Hoa Lac to step up the bilateral cooperation in innovative startup ecosystem development.

The minister assigned NIC and the Vietnam Innovation Network in Europe (VINEU) to partner with Hub.Brussels in devising an exchange programme for Vietnamese startups this year.

Annelore Isaac, Deputy Chief Executive Officer at Hub.Brussels, expressed her belief in cooperation between the two sides, which would cover health care and construction, and affirmed that the agency stands ready to support Vietnamese startups.

On this occasion, Hub.Brussels, NIC and VINEU signed a memorandum of understanding on cooperation in innovation and startup.

At another working session with IMEC, a leading R&D and innovation hub in Europe in nanoelectronics and digital technologies, Dung stressed that his ministry wants to promote cooperation between IMEC with Vietnamese organisations and enterprises, especially in the semiconductor R&D, thus helping Vietnam join the global semiconductor supply chain.

He suggested IMEC join hand with NIC and Vietnamese educational institutions to organise cooperation programmes for students and engineers in the semiconductor industry.

A MoU on collaboration in the semiconductor industry was also inked by IMEC and NIC on this occasion, under which IMEC will consider building an R&D centre in the Southeast Asian nation.

Driven since 1817 by the entrepreneurial spirit and passion for innovation of its founder, the John Cockerill Group developed large-scale technological solutions to meet the needs of its time.

Meeting with John Cockerill representatives, Dung emphasised that Vietnam hopes for comprehensive cooperation with the group in energy, saying it should become Vietnam’s strategic partner through cooperation programmes as well as R&D and investment projects.

John Cockerill's leaders said the group wants to make comprehensive and strategic investment in Vietnam, thus further serving the Southeast Asian and Northeast Asian markets.

The group expects to focus on solutions regarding energy transition, including biomass, hydrogen and low-carbon ones, they noted.

John Cockerill and NIC reached a MoU on this occasion, under which the Belgian group would invest in green hydrogen R&D at the Vietnamese centre and labs for biomass fuel products, and develop products relating to cooling technology in power plants and industries.

Source: VNA     LINK

Henig:  Q1 economic growth drivers

06:00 | 28/02/2023

(VEN) - Investment, domestic consumption and foreign trade were the three drivers of Vietnam’s economic growth in February and the first quarter of 2023. The Government, ministries, sectors and localities are taking action to promote these forces.

Opportunities and challenges

According to the Ministry of Planning and Investment (MPI), by the end of January 2023, the Vietnamese economy continued to show positive signs with the macroeconomic situation remaining stable. Specifically, the consumer price index (CPI) grew 0.52 percent compared with December 2022 and 4.89 percent year-on-year; in the monetary market, credit grew 0.65 percent by January 17 compared with the end of 2022; the banking system’s liquidity was ensured.

In January, State budget revenue reached 11.3 percent of yearly projection, foreign direct investment reached US$1.2 billion, triple the result of January 2022, and trade surplus was estimated at US$3.6 billion.

Production and trade continued recovering thanks to high consumer demand during the Lunar New Year holiday (late January). Agricultural production remains stable. Total retail sales of consumer goods and services grew 20 percent year-on-year. The supply of goods is abundant with almost no major price changes.

However, due to the week-long Lunar New Year holiday and the impact of the global economic uncertainty, industrial production and import-export activities faced numerous difficulties. The January index of industrial production (IIP) equaled 92 percent of that in January 2022, while total foreign trade value was lower compared with December and January 2022.

Three growth drivers

According to the MPI, given the increasing difficulties challenging Vietnam’s efforts to control inflation and maintain macroeconomic stability, Vietnam should focus on promoting investment, domestic consumption and foreign trade.

To promote investment, the prime minister has ordered the acceleration of major national projects and the improvement of the investment and business environment to create a new space for socioeconomic development. At the same time, the Government has applied fiscal policies to provide businesses with support, helping them reduce input costs and output prices in order to control inflation. Appropriate monetary policies are helping manage credit and keeping interest at a reasonable level to facilitate investment in production and trade. The disbursement of public investment capital will also be accelerated.

To promote domestic consumption and foreign trade, the industry and trade sector will facilitate business access to capital and credit, and strengthen domestic purchasing power through effective implementation of trade promotion programs. The distribution of goods on digital platforms and e-commerce will be expanded to boost domestic sales.

At the same time, the Ministry of Industry and Trade will accelerate negotiations on bilateral and multilateral cooperation mechanisms, bring into play the role of overseas Vietnamese trade offices, and support localities, associations and businesses in taking advantage of free trade agreements to increase exports. Technical barriers will be removed to facilitate business access to new markets.

Digital transformation in the field of trade promotion will be accelerated to connect supply and demand, as well as to build and develop Vietnamese brands in foreign markets. Attention will also be paid to logistics services, e-commerce, and especially cross-border trade.

Nguyen Hoa     LINK

****************

Henig:  Bond issuers seek solutions to delay bond debt payment

February, 28/2023 - 09:06

The volume of mature bonds of businesses will peak in the period of 2023 - 2024 and bond issuers are taking different actions to proactively remove difficulties.

HÀ NỘI — The volume of mature bonds of businesses will peak in 2023 - 2024 and bond issuers are taking different actions to proactively remove difficulties.

NoVa Real Estate Investment Group Joint Stock Company (Novaland, HOSE: NVL) has just announced that it has reached an agreement with its "bondholder" Dallas Vietnam Gamma Ltd. The companies have negotiated and reached an agreement to reduce the number of outstanding bonds and warrants through a swap agreement.

Accordingly, Dallas Vietnam Gamma Ltd will receive a portion of shares in two member companies of Novaland, namely Thành Nhơn Real Estate Investment Company Limited and Mũi Né General Investment Joint Stock Company in exchange for the cancellation of a corresponding number of bonds and warrants.

Previously, in mid-2022, Dallas Vietnam Gamma Ltd bought 4,435 convertible bonds and 185 warrant-linked bonds from Novaland. Novaland's consolidated financial statements for the fourth quarter of 2022 showed that Dallas Vietnam Gamma is Novaland's bondholder with a long-term debt of VNĐ4.62 trillion (US$193 billion) as of December 31, 2022.

BCG Energy Joint Stock Company – a member of Bamboo Capital Group Joint Stock Company (HOSE: BCG) also recently said that it had reached an agreement with investor Hanwa Energy Corporation Singapore Pte Ltd on changing the bond payment term.

According to BCG Energy, considering changes in market conditions, the two parties have negotiated to convert part of the bonds into debt with the final payment term being changed to June 30, 2023, instead of September 4, 2022.

As of December 31, 2022, BCG Energy had paid all the interest and VNĐ45 billion of the principal to Hanwa Energy Corporation Singapore Pte. The remaining principal debt, equivalent to $3 million, has been agreed by BCG Energy and Hanwha Energy to be settled under a joint agreement of both parties. Previously, on September 4, 2019, BCG Energy privately issued a convertible bond package to Hanwa Energy Corporation Singapore with a value of VNĐ115.75 billion.

In addition to actively negotiating with lending partners, some businesses also actively increased coupon rates for bond lots to stabilise investor sentiment. In addition, many businesses also plan to repurchase the issued bonds before maturity.

According to a recent report by Vietcombank Securities Company (VCBS), by January 2023, out of VNĐ1.19 quadrillion of corporate bond outstanding loans, the largest amount of outstanding loans belonged to the real estate industry which is accounting for 37 per cent, followed by banks making up 32 per cent.

VCBS also added that the volume of corporate bonds maturing in 2023 is estimated at over VNĐ250 trillion, a significant decrease compared to the third quarter of 2022 due to the proactive repurchase by issuers before maturity. The acquisition value of the banking and real estate industries in the fourth quarter of 2022 reached VNĐ35 trillion and VNĐ24 trillion, respectively.

Experts from VNDirect Securities Joint Stock Company said that in the context of tightened monetary policy and increasing financial costs, some bond issuers have few opportunities to access capital for financial restructuring and meeting short-term debt obligations. Liquidity risk is concentrated in a number of volatile sectors such as real estate.

Cấn Văn Lực, a member of the National Financial Monetary Policy Advisory Council, said that businesses need to step up negotiations with investors to extend the debt payment maturity.

The Ministry of Finance (MoF) has also recently proposed that the Government consider allowing enterprises to pay principal and interest on bonds in shares and real estate products.

According to the ministry, if an enterprise cannot pay the bond principal and interest in cash, they can negotiate with investors to use other assets on the principle of complying with the provisions of civil law. This payment method must be approved by the bondholders and the enterprise must disclose information and take responsibility for the legal status of the assets used to pay the principal and interest of the bonds.

To assist enterprises in mobilising capital for production and business activities and debt restructuring, the Ministry of Finance shall propose to the Government to allow previously issued bonds with an outstanding balance to be changed in expiration term, the maximum time is two years.

— VNS     LINK

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Henig:   Door wide open for processed, manufactured products to enter UAE

February, 28/2023 - 10:31

Dubai is stepping up urbanisation and infrastructure development, leading to higher demand for electricity and energy in industrial and trade sectors. The development of smart grids and upgrade of transmission lines will also boost the UAE’s electrical cable market.

 HÀ NỘI — Products of the processing and manufacturing industry of Việt Nam now have great chances to enjoy stronger export to the UAE, which has high demand for imports.

Dubai is stepping up urbanisation and infrastructure development, leading to higher demand for electricity and energy in industrial and trade sectors. The development of smart grids and upgrade of transmission lines will also boost the UAE’s electrical cable market.

The UAE’s electrical cable market was valued at US$192.48 billion in 2021 and is forecast to grow by some 4.2 per cent on average between 2022 and 2030. Therefore, electrical cables are a highly potential product for Vietnamese enterprises to invest in and export to the middle eastern country, said Trương Xuân Trung, an official of Việt Nam’s Trade Office in the UAE, as cited by the Công Thương (Industry & Trade) newspaper.

Among other processed and manufactured products, Việt Nam can also boost the shipment of handbags, suitcases, and wallets, he suggested.

In 2022, footwear exports to the UAE brought home $185 million, rising nearly 50 per cent from a year earlier; textiles and garments $132 million; timber and wood products $27 million, statistics show.

The Handicraft and Wood Industry Association of HCM City has registered to take part in a woodworking fair in the UAE in 2023. This event, which will gather many international exporters and importers, will be a good chance for Vietnamese firms to seek partners, Trung said.

In addition, some agricultural and fishery products of Việt Nam are holding a big market share in the UAE and can be exported more to this market.

Data in 2022 show that fishery exports to the UAE increased by over 18 per cent year on year. Việt Nam is currently the biggest exporter of frozen tra fish fillet there, with an over 50 per cent market share. Such fruits as dragon fruit, watermelon, and seedless lime from the Southeast Asian country are also dominating this market.

However, the UAE is a market with fierce competition in terms of prices and quality, the official noted, adding that the Islamic country requires food and beverage imports to have Halal certificates, and also imposes high import tariffs, up to 50 per cent, on sugar-sweetened beverages.

Despite considerable challenges, Trung held that the UAE is attractive enough for Vietnamese firms to capitalise on since it is a highly open market, has few tariff barriers, and serves as a point of transit for goods to reach the Middle East, Africa, and Southern Europe.

Besides, the UAE is a party to the Gulf Cooperation Council (GCC), whose members share a common customs law system, so when Vietnamese goods are exported to this market, they can enter other GCC members without having to pay more taxes.

The UAE has asked Việt Nam to consider the early signing of a bilateral comprehensive economic partnership agreement so as to further facilitate Vietnamese products’ entry into the Middle Eastern country, according to Trung.

— VNS     LINK