"Tidbits From TNT" Thursday Morning 4-20-2023
TNT:
Tishwash: Iraq market stops its activity for five days
Today, Thursday, the Iraqi Stock Exchange announced the suspension of its activity for a period of five days.
The market said in a statement, "Based on the Cabinet's decision to declare an official holiday for a period of five days on the occasion of Eid Al-Fitr, it will not organize trading sessions, starting from Thursday, corresponding to April 20, until next Monday."
The statement added, "The first trading session after the Eid holiday will be on Tuesday, April 25, according to its official timings link
TNT:
Tishwash: Iraq market stops its activity for five days
Today, Thursday, the Iraqi Stock Exchange announced the suspension of its activity for a period of five days.
The market said in a statement, "Based on the Cabinet's decision to declare an official holiday for a period of five days on the occasion of Eid Al-Fitr, it will not organize trading sessions, starting from Thursday, corresponding to April 20, until next Monday."
The statement added, "The first trading session after the Eid holiday will be on Tuesday, April 25, according to its official timings link
CandyKisses: The Minister of Finance directs the work of Al-Rasheed and Al-Rafidain employees during the Eid al-Fitr holiday
Finance Minister Taif Sami directed the employees of Rafidain and Rashid bankers at work during the Eid al-Fitr holiday.
A statement by the ministry received by "Al-Malala" said that "the Minister of Finance directed the full-time of the employees of Al-Rafidain and Rashid bankers on Thursday, tomorrow, Friday and throughout the Eid al-Fitr holidays for the purpose of completing the procedures for paying the salaries of employees for the current month."
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Tishwash: Ali Al-Alaq continues his efforts to organize the financial and economic affairs in Iraq
The Central Bank of Iraq has taken new mechanisms to reduce money laundering and terrorist financing through the sale and purchase of real estate.
According to a document issued by the Central Bank, which stated that “for the purpose of reducing the risks of money laundering and terrorist financing related to the real estate sector, which is considered one of the international requirements imposed on the Republic of Iraq to adhere to, and which reflects the positive impact on its evaluation, coordination between you and the real estate registration departments regarding operations Buying and selling real estate.
And the bank stipulated that “the presence of the seller and the buyer or buyer, for the purpose of depositing the agreed amount with your institutions when the amount of the property exceeds the permissible limit in the due diligence controls of the real estate registration departments No. 1 of 2022.”
And he stressed that "the amount is deposited with your institutions through opening accounts or any other methods that you deem more flexible, after taking due diligence measures on your part."
And the bank stressed that “the commission specified by the supervisory authority for this purpose is met, or without it according to the policy followed by you, which in turn will increase the classification of banks’ evaluation by the supervisory authority in the event that nominal percentages are taken, based on what came in our letter No. 2/9/126 dated On 26/2/2023, which includes the quality of banking services.
The bank indicated that "a letter is issued by you to the real estate registration department concerned with the process, by depositing the amount, and the letter addressed to the aforementioned department includes the following: (m/ depositing the amount of the text (the amount of the property numbered with the number (...) has been deposited according to Bond No. (... ) returned to the seller Mr. (....), and the buyer Mr. (....), after completing the due diligence procedures based on what was stipulated in the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015 and the due diligence controls concerned with the real estate registration departments No. 1 for the year 2022. link
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CandyKisses: Russia announces the start of the "de-dollarization" process: the dollar is on its way to disappear
Russian Deputy Foreign Minister Alexander Pankin announced the launch of the "dedollarization" process, stressing that sooner or later the dominance of this currency is on its way to disappear.
Asked when Russia would be able to completely get rid of the dollar and how that would affect the U.S. position internationally, Pankin said: "This process has been launched, it's a trend, and that's popular."
"Of course, the dollar's position is strong in the global economy, of course, there are a number of dependencies. The dollar is not just a financial instrument. Rather, it is reinforced by American policy with other types of dependencies, a network of military-political, economic relations and so on."
"Now many countries are stronger and tougher, and therefore, there is greater confidence in their currencies. I don't know if the dollar will disappear like this."
"I recently read and saw this table somewhere, which was dominating that. Once upon a time, the Dutch guilder, the Portuguese escudo dominated – moreover, for 80 years, 100 years, the pound sterling was... The dollar is not the first currency in the world to dominate for a long time. And I don't assume the dollar age calculation. But every dominant currency is deferred in its lifetime."
Mot: ....... the ""Perks"" of becoming Seasoned! ~~~
Mot: ... Hoping Soooon fer ALL!!! ~~~~~
Awake-In-3D: Stiff Drink Time! FDIC Discussses if "The Public" Should Be Informed About Bank Bailins
Awake-in-3D
Stiff Drink Time! FDIC Discusses if “The Public” Should be Informed About Bank Bail-ins
You may need to watch this clip several times.
Apparently, this is a recent, official FDIC senior management meeting where they discuss whether or not to inform the USA public about the risk of their bank deposits being bailed-in (frozen to protect the banks from insolvency).
I’ve tried to verify this video’s authenticity, but I couldn’t find evidence that it’s NOT authentic.
IF it is real, it’s very disturbing. Especially when they chuckle about the public having more confidence in the banking system than they do.
Awake-in-3D
Stiff Drink Time! FDIC Discusses if “The Public” Should be Informed About Bank Bail-ins
You may need to watch this clip several times.
Apparently, this is a recent, official FDIC senior management meeting where they discuss whether or not to inform the USA public about the risk of their bank deposits being bailed-in (frozen to protect the banks from insolvency).
I’ve tried to verify this video’s authenticity, but I couldn’t find evidence that it’s NOT authentic.
IF it is real, it’s very disturbing. Especially when they chuckle about the public having more confidence in the banking system than they do.
It’s also unsettling that they determine that “institutional and professional depositors” can understand the risks (because they can afford high-paid advisors), but the public should be kept in the dark.
They all know a financial crash is coming. Unnerving times indeed.
@GCR_RealTimeNews
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Many Blessings,
Ai3
Thursday Morning Iraq Economic News Highlights 4-20-23
Thursday Morning Iraq Economic News Highlights 4-20-23
The Dollar Falls To Less Than 1450 Dinars In The Iraqi Market
Market Economy News – Baghdad The exchange rates of the dollar in the Iraqi markets fell today, Thursday, to less than 1450 dinars.
Baghdad Sale: 144,500 dinars per 100 dollars Buying: 142,500 dinars per 100 dollars
South Sale: 145,000 dinars per 100 dollars Buying: 143,000 dinars per 100 dollars
North Sale: 144,500 dinars per 100 dollars Buying: 142,500 dinars per 100 dollars
Thursday Morning Iraq Economic News Highlights 4-20-23
The Dollar Falls To Less Than 1450 Dinars In The Iraqi Market
Market Economy News – Baghdad The exchange rates of the dollar in the Iraqi markets fell today, Thursday, to less than 1450 dinars.
Baghdad Sale: 144,500 dinars per 100 dollars Buying: 142,500 dinars per 100 dollars
South Sale: 145,000 dinars per 100 dollars Buying: 143,000 dinars per 100 dollars
North Sale: 144,500 dinars per 100 dollars Buying: 142,500 dinars per 100 dollars
Hours Before Eid.. The High Cost Hinders The Purchase Process In The Baghdad Markets
Economy |Today, Baghdad today - follow-up Despite the advent of Eid Al-Fitr after limited hours, large markets in the Iraqi capital, Baghdad, continued to witness a weak turnout in the buying and selling movement, according to merchants and citizens .
Low-income citizens and shop owners confirm that all kinds of commodities are available in the local markets, but the citizens’ economic situation prevents them from buying, due to the rise of the US dollar against the local currency, the dinar, and the increase in commodity prices compared to previous years .
Low Turnout
Haider Hadi (45 years), a clothing merchant in downtown Mansour, Baghdad, said that the movement of purchasing power to shop during the last ten days of Ramadan for this year began with a downward curve and suffers from severe weakness and a significant decline compared to previous years .
Hadi told Anadolu Agency that the reason for the decline in the purchasing power of citizens is due to the fluctuation of US dollar prices and the difficult living situation for most Iraqis .
He added, "The most important week for this trade is the last of the month of Ramadan, and we do not expect the movement to increase, as there are only two days left until the Eid date, and the markets suffer from a lack of customers and shoppers ."
According to Hadi, this year is the worst for clothing merchants due to the weak purchasing power as a result of the high prices, the high cost of living, and the preoccupation with securing a living, in addition to other obstacles, including the absence of effective regulation of the market and the failure of chambers of commerce to protect the interests of merchants importing goods .
Economic Conditions
Reda Dakhil Kazem (33 years), the owner of a shoe store in the city of Mansour, said that the preparations for Eid al-Fitr and the sales movement at the end of Ramadan are normal, but the buying movement is not like the past, indicating that the reason for this is due to the difficult economic conditions in the country .
Kazem explained: "There are two days left until the Eid, and the general movement is weak during the last ten days of Ramadan. In previous years, we used to start the preparation season for the Eid ten days before, but these days the situation is different."
In Kazem's opinion, the prices of products and the economy in general are affected by the rise of the US dollar, and the security and political situation in the country has an impact .
According to the Iraqi shoe seller, the level of the citizen's purchasing power remained lower than before year after year .
Purchase Movement
Complaints about the state of the markets before the Eid also moved to the citizens after the merchants, as government employee Ali Faisal (40 years old), while shopping in a store, saw that the market prices are high and start to rise from foodstuffs, all the way to children’s clothes .
Sura, 28, a government employee, we found her shopping in a shopping center in Baghdad, accompanied by her little girl. She said that the commercial activity is good and regular, despite the high prices of commodities and necessities .
Despite this, Sari mentioned that the purchase movement seems weaker than in previous years due to the high prices and the increase in prices after the entry of goods from neighboring countries was prohibited .
Iraqis are living in difficult economic conditions, as a result of the repercussions of the financial crises that afflicted the country due to the high price of the dollar against the local dinar.
Source: Anatolia LINK
Parliamentary Finance For / Nina /: Voting On The Budget On This Date, And We Will Reduce The Deficit Rate
Thursday 20, April 2023 11:52 | politics Number of readings: 329 Baghdad / NINA / - The Parliamentary Finance Committee revealed its vision to address the deficit in the draft federal budget law, expecting a delay in the final vote on the law.
Committee member, Representative Jamal Cougar, stated, in a statement to the National Iraqi News Agency ( NINA ), that "the vote on the general budget will be delayed until the end of next May, when there will be joint meetings and seminars in which ministers and governors will be hosted by the Finance Committee.”
He added, "The deficit rate in the general budget will inevitably be reduced, after checking all the numbers with the concerned authorities, to reach the required reduction."
And he explained, "Reducing the deficit is one of the exclusive powers of the House of Representatives, which is" the reduction, transfer, and addition of paragraphs that are not subject to a financial commission.
He went on to say, "We can work to add paragraphs to cancel some expenses, add paragraphs to enhance other resources, and add paragraphs that will reduce the deficit rate," indicating that if the revenues are large, the deficit rate will decrease automatically , and if the revenues are small, we will inevitably go to cancel some paragraphs in The origin of the budget.”
Deputy: The Delay In Passing The Draft Budget Impedes The Government's Powers In The Possibility Of Spending
Iraq 2023-04-20 A member of the Parliamentary Finance Committee, Jamal Cougar, warned today, Thursday, of the consequences of delaying the approval of the budget for the current year, in light of the economic crisis related to its inability to pay the salaries of its employees and abide by its financial pledges. Cougar said in a press statement, “The approval of the 2023 budget
belongs to the government, as it was late in sending the final draft to the House of Representatives.
It is more important during the current period.”
Cougar pointed out, “With the approval of the budget, there will be large liquidity that will go to the private sector, to companies, and to the Iraqi market, which will help create job opportunities, turnover, and a large commercial movement.”
He pointed out that "the failure to approve the draft budget law during the next few period will threaten the investment side in Iraq to stop due to the lack of funds that cover operating expenses."
https://kirkuktv.net/AR/Details/14726
The Government: Resuming The Region's Oil Exports After Eid And Approving The Budget Before May
Time: 04/20/2023 01:17:10 Read: 4,004 times {Politics: Al-Furat News} The government spokesman, Basem Al-Awadi, announced that "there is a great glimmer of hope" for resuming the export of Kurdistan's oil "after the Eid Al-Fitr holiday," noting that work is underway to resume oil export at "the earliest possible opportunity."
Al-Awadi said, in a press statement, that the Prime Minister noted, during his dialogue with a number of TV channels, that the resumption of exporting the Kurdistan region's oil "could take place within days," adding that "the available information indicates that we are in the last moments (to resume export), and what It's just a technical procedure."
She indicated that the Federal Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Region are implementing the agreement of the federal government and the Kurdistan Regional Government, and "there are many technical procedures, including opening credits and accounts, correspondence with the Central Bank, and correspondence between the Ministries of Oil and Natural Resources, in addition to correspondence with companies that You buy oil."
He pointed out that SOMO "could, within a very few days, send an official letter to the Turkish Republic, in order to pump oil again," explaining: "Based on what the Prime Minister prefers and the information available from the Ministry of Oil, we are talking about a few days that will be decided." through this file.
He stressed that "the Iraqi government has a rush equal to the rush of the Kurdistan Regional Government to export oil. The Baghdad government has put the 400,000 barrels delivered by the Kurdistan Region as part of the Iraqi budget, and the more days these funds are delayed, the more damage there will be to Baghdad's budget and also to the rights of the Kurdistan Region." , stressing that the Iraqi government wants to "export oil today before tomorrow."
Al-Awadi added that "conviction, hope, and readiness are present, and work is underway" to resume exporting Kurdistan Region's oil at "the earliest possible opportunity" through the Turkish port of Ceyhan.
And he believed that even if there was a Turkish request for negotiation, "it is okay and it is a very encouraging factor, and it is possible for the three parties, Turkey, the Iraqi government and the delegation of the Kurdistan Region, to enter into negotiations and reach agreements," adding that "there are previous international agreements related to the issue of oil export, There are also bilateral agreements signed since 1973" between Iraq and Turkey.
He pointed out that "some of these agreements were renewed in the eighties. Turkey also knows that this issue is sensitive, and it needs resources like Iraq, so I do not think there is any difficulty with regard to the Turkish side."
He pointed out that "there is a very big glimmer of hope" for resuming the export of Kurdistan Region's oil "after the Eid al-Fitr holiday," noting that "the agreement is supposed to continue until the oil and gas law is passed, which is one of the important laws that was long overdue. He explained that" there is no
need prior agreements after enacting the law,” stressing the commitment of Prime Minister Muhammad Shia al-Sudani to the agreements reached within the coalition of state administration between the three components, and his work for the “legislation of the oil and gas law.”
Regarding the 400 billion loan to the Kurdistan Region, he explained that "the Council of Ministers agreed in its session on (April 18, 2023) to send a payment of about 200 billion dinars to the Kurdistan Region in order to provide assistance with regard to the salaries of the region's employees," indicating that it had arrived in the Kurdistan Region. "A technical issue that depends on the institutions."
And he continued, "We know that the process of stopping oil exports harms the budget of the Kurdistan Region," noting that the Kurdistan Region "is part of Iraq and there are agreements for an alliance to administer the state," and "brotherhood that brings us together above the agreements," which calls for the development of "rational and balanced policies."
Regarding the budget, Al-Awadi indicated that it could be approved "within 10 days, by the end of this month, and everything will proceed properly," adding that "the government will provide all facilities and assistance that enable the Kurdistan Region and its citizens to continue their normal lives," even if the approval of the budget is delayed further. So. LINK
More Than $10 Billion... Iran's Exports To Iraq Record An "Unprecedented Level"
Money and business Economy News – Baghdad The director of the West Asia office at the Iranian Trade Development Organization, Farzad Beltin, confirmed that merchandise exports to Iraq in the fiscal year ending March 20, 2023 exceeded the level of $10 billion.
Belten considered that the export of more than $10 billion in goods to Iraq in the aforementioned year "is a new, unprecedented level."
He added that exports to Iraq witnessed an increase of about 15 percent over the previous year ending March 20, 2022, as about $8.2 billion of them related to 100 items of main commodities exported to Iraq.
On the other hand, Belten confirmed that Iran's imports from Iraq recorded about $200 million in the fiscal year ending March 20, 2023, adding that Iraq is "one of Iran's strategic partners" with regard to foreign trade, especially exports. https://economy-news.net/content.php?id=33698
An Increase Of About 15%.. Iranian Exports To Iraq Achieved An “Unprecedented” Number Last Year
04/20/2023 2247 Earth News / Iranian media reported today, Thursday, that Iranian exports to Iraq during the ending fiscal year achieved an unprecedented number.
"Exports of goods to Iraq in the fiscal year ending March 20, 2023 - according to the Persian calendar - exceeded $10 billion, and this is an unprecedented new level," said Farzad Belten, director of the West Asia office at the Iranian Trade Development Organization.
He pointed out that "exports to Iraq witnessed an increase of about 15% over the previous year ending March 20, 2022, as about $8.2 billion of them relate to 100 items of main commodities exported to Iraq."
Belten explained that “commodities such as natural gas, steel alloys, dairy products, plastics, urea, oranges, eggs, sponge iron, pipes, profile iron, types of electrical transformers, and metal industries witnessed an increase over the previous year.”
He pointed out that "Iran's imports from Iraq recorded about $200 million in the fiscal year ending March 20, 2023," stressing that "Iraq is one of Iran's strategic partners with regard to foreign trade, especially exports." https://earthiq.news/archives/222647
Deputy Attributes Fears Of Approving The Tripartite Budget To The Instability Of The Iraqi Economy
1,089 A member of the Iraqi Parliament, Bassem Al-Gharibawi, attributed the biggest problem facing the approval of the three-year budget to the instability of the Iraqi economy.
Al-Gharibawi said in a press interview seen by “Takadum” that “the most important reasons that called for favoring the one-year budget is the instability of the Iraqi economy, which does not enable the government to provide funds covering three years,” noting that “there is a political desire to approve the budget as soon as possible.” ".
He stated, "The political forces have many demands related to approving the approval of the budget."
He added, "The decisive session for its approval will be after the Eid," noting that "all parties will work in the end to make the budget fair for all Iraqis." https://takadum-news.com/archives/160378
Iran's Exports To Iraq Record More Than 10 Billion Dollars
Economy| 10:47 - 04/20/2023 Follow-up - Mawazine News, Director of the West Asia Office of the Iranian Trade Development Organization, Farzad Beltin, confirmed that merchandise exports to Iraq in the fiscal year ending March 20, 2023, exceeded the level of 10 billion dollars.
Belten considered that the export of more than $10 billion in goods to Iraq in the aforementioned year "is a new, unprecedented level."
He added that exports to Iraq witnessed an increase of about 15 percent over the previous year ending March 20, 2022, as about $8.2 billion of them related to 100 items of main commodities exported to Iraq.
On the other hand, Belten confirmed that Iran's imports from Iraq recorded about $200 million in the fiscal year ending March 20, 2023, adding that Iraq is "one of Iran's strategic partners" with regard to foreign trade, especially exports. https://www.mawazin.net/Details.aspx?jimare=225038
Iraq Market Stops Its Activity For Five Days
Market Economy News – Baghdad Today, Thursday, the Iraqi Stock Exchange announced the suspension of its activity for a period of five days.
The market said in a statement, "Based on the Cabinet's decision to declare an official holiday for a period of five days on the occasion of Eid Al-Fitr, it will not organize trading sessions, starting from Thursday, corresponding to April 20, until next Monday."
The statement added, "The first trading session after the Eid holiday will be on Tuesday, April 25, according to its official timings." https://economy-news.net/content.php?id=33701
Iraq Market Stops Its Activity For Five Days
2023-04-20 03:54 Shafaq News/ The Iraqi Stock Exchange announced, on Thursday, that it has stopped its activities for five days.
In a statement received by Shafaq News agency, the market said, "Based on the Cabinet's decision to declare an official holiday for five days on the occasion of Eid Al-Fitr, it will not organize trading sessions, starting from Thursday, April 20, until next Monday."
He added, "The first trading session after the Eid holiday will be on Tuesday, April 25, according to its official timing."
It is noteworthy that the Iraq Stock Exchange organizes five trading sessions per week, from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services. LINK
Goldilocks "Currency reforms are currently on the table, and they are not going anywhere." 4-19-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
RJ: Good afternoon Dinar Recaps,
Goldilocks posted comments with links:
"The Central Bank issues new instructions to banks on electronic payment"
AND,
"Central Bank of Iraq Adopts New Anti-Money Laundering Mechanisms (Document)"
Goldilocks and Seeds of Wisdom
Thank you RJ
RJ: Good afternoon Dinar Recaps,
Goldilocks posted comments with links:
"The Central Bank issues new instructions to banks on electronic payment"
AND,
"Central Bank of Iraq Adopts New Anti-Money Laundering Mechanisms (Document)"
We have two things going on in Iraq.
They have adopted security mechanisms that will allow them to protect people who are making retail purchases through a POS mechanism.
The point of sale mechanism added to their new digital transactions will protect the customer and merchant in every day purchases.
The point of sale mechanism will also clear and record inventory for the merchant and payment processes for their new digital banking system.
© Goldilocks
https://search4dinar.wordpress.com/2023/04/19/the-central-bank-issues-new-instructions-to-banks-on-electronic-payment/
https://search4dinar.wordpress.com/2023/04/19/central-bank-of-iraq-adopts-new-anti-money-laundering-mechanisms-document/
~~~~~~~~~~
It looks like they are going to raise the debt ceiling until next year.
This changes the timeline we were looking at earlier in seeing a forced revaluation.
Currency reforms are currently on the table, and they are not going anywhere.
Remember, the revaluation of everything began on March 20th and ends on June 30th.
© Goldilocks
https://www.washingtonexaminer.com/news/house/mccarthy-set-to-unveil-legislation-raising-debt-ceiling
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Goldilocks' Telegram Room
https://t.me/+YU9UrHLxFbszOTJh
Goldilocks on the Seeds of Wisdom Team Website
https://www.seedsofwisdomteam.com/
Thank you Dinar Recaps
Iraqi News Highlights Wednesday Evening 4-19-23
Iraqi News Highlights Wednesday Evening 4-19-23
Tlm724 Administrator Bondlady’s Corner
The Iraqi Central Bank’s Sales Of Dollars Increased To More Than 319 Million
Wednesday 19, April 2023 13:12 | Economical Number of readings: 380 Baghdad / NINA / - The Central Bank of Iraq announced today, Wednesday, the increase in hard currency auction sales (dollars), to more than 319 million dollars. And the currency sale window stated in its bulletin, that "the sales of the foreign currency sale window rose today to more than 319 million dollars."
Iraqi News Highlights Wednesday Evening 4-19-23
Tlm724 Administrator Bondlady’s Corner
The Iraqi Central Bank’s Sales Of Dollars Increased To More Than 319 Million
Wednesday 19, April 2023 13:12 | Economical Number of readings: 380 Baghdad / NINA / - The Central Bank of Iraq announced today, Wednesday, the increase in hard currency auction sales (dollars), to more than 319 million dollars. And the currency sale window stated in its bulletin, that "the sales of the foreign currency sale window rose today to more than 319 million dollars."
She explained that "the total amounts of transfers abroad (remittances, credits) amounted to 93,695,917 million, and the total amounts of cash sales amounted to 225,900,000 million dollars."/ End 8 https://ninanews.com/Website/News/Details?key=1048271
A slight rise in the exchange rates of the dollar in the local markets
Wednesday 19, April 2023 10:41 | Economical Number of readings: 353 Baghdad / NINA / - Today, Wednesday, the exchange rates of the dollar against the dinar recorded a slight increase in the main stock exchange and exchange offices in the capital, Baghdad.
Where the central Al-Kifah Stock Exchange in Baghdad recorded, this morning, an exchange rate of 144,200 dinars for every 100 dollars. The selling prices of the
dollar in exchange shops recorded 144,750 dinars, while the purchase prices recorded 143,750 dinars for every 100 dinars. / End8 https://ninanews.com/Website/News/Details?key=1048231
The Minister Of Finance Discusses With The Ambassadors Of The European Union And Canada The Importance Of Expanding The Horizons Of Bilateral Economic Cooperation
Wednesday 19, April 2023 15:13 | Economical Number of readings: 321 Baghdad / NINA / - The Minister of Finance, Taif Sami Muhammad, received today, Wednesday, the Ambassador of the European Union to Iraq, Phil Fargola, and the Canadian Ambassador to Iraq, Krikori Calikan, and their accompanying delegation.
The ministry said in a statement: "The meeting discussed the consolidation of Iraq's bilateral relations with the European Union on the one hand and Canada on the other, through the development of mutual cooperation in the field of money, economy and investment."
And the Minister of Finance affirmed that Iraq is looking forward to strengthening cooperation and establishing economic partnerships with institutions and friendly countries, indicating Iraq's openness to all forms of exchange and trade and economic partnership with the European Union and Canada.
In turn, the ambassadors of the European Union and Canada expressed their aspiration to enhance the extent of constructive cooperation with Iraq, especially with regard to aspects of money, investment, energy and sustainable development projects. https://ninanews.com/Website/News/Details?key=1048288
Deputy: The Government Is Serious About Paying Off All Debts
Money and business Economy News – Baghdad Parliament member Jawad al-Bolani affirmed, on Wednesday, the government's seriousness in paying all debts owed by Iraq.
Al-Bolani said, "The payment of debts follows a legal and financial mechanism, and the Ministry of Finance, the Central Bank and the Iraqi government put it in the budget law and take into account the state's financial ability to pay off debts and loans."
He added, "At the level of Parliament and the political situation, the political forces are not interested in increasing borrowing, and the government is directly responsible for setting schedules and paying debts, short, medium and long-term, and according to the method of dealing with the Ministry of Finance in this file."
Bolani stressed that "the government is serious about paying all Iraqi debts," noting that "the expansion of borrowing is not in the interest of the country." https://economy-news.net/content.php?id=33674
To read more current and reliable Iraqi news please visit BondLady’s Corner:
Iraqi News Highlights Wednesday Afternoon 4-19-23
Iraqi News Highlights Wednesday Afternoon 4-19-23
Tlm724 Administrator Bondlady’s Corner
The Iraq Stock Exchange Closes On A High, And Trading Exceeded 30 Billion Shares
Market Economy News-Baghdad The Iraqi Stock Exchange ended the week, up by 3.43%. The market mentioned in a report that the number of shares traded during this week is more than (30) billion shares, with a value of more than (17) billion dinars. The trading index in the market closed for the first session of the week at (675.12) points, while the index closed at the end of the week at (699.11) points, achieving an increase of (3.43%) from its closing at the beginning of the session. During the week, more than (2,500) buying and selling contracts were executed on the shares of companies listed in the market.
Iraqi News Highlights Wednesday Afternoon 4-19-23
Tlm724 Administrator Bondlady’s Corner
The Iraq Stock Exchange Closes On A High, And Trading Exceeded 30 Billion Shares
Market Economy News-Baghdad The Iraqi Stock Exchange ended the week, up by 3.43%. The market mentioned in a report that the number of shares traded during this week is more than (30) billion shares, with a value of more than (17) billion dinars. The trading index in the market closed for the first session of the week at (675.12) points, while the index closed at the end of the week at (699.11) points, achieving an increase of (3.43%) from its closing at the beginning of the session. During the week, more than (2,500) buying and selling contracts were executed on the shares of companies listed in the market.
Sudanese Advisor: The Electronic Platform For External Transfer Will Combat The Flow Of Illegal Funds
Economy | 05:38 - 19/04/2023 Baghdad - Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the indication of the Prime Minister, Muhammad Shia' al-Sudani, that Iraq's trade is distorted due to money laundering and smuggling, put points on the letters in diagnosing private sector financing, while pointing out that the electronic platform for external transfer has become The important remedial tool in combating the flow of illegal funds.
Saleh said to the official agency, followed by Mawazine News, that "the Prime Minister put points on the letters in highlighting the problems of financing private sector trade that were born from the wreckage of a banking system that was isolated internationally and lacked banking requirements and its legal and digital systems, including improving its performance in compliance and introducing Modern financial technology systems in an accelerated technological era, enabling it to establish international banking relations and provide risk-free commercial credit with its correspondent network of international banks.
He added, "Likewise, the banking system overcame factors left over from decades of wars, boycotts, blockades, and economic and institutional decline. Therefore, facilitating external transfers during the last two decades under the pretext of financing foreign trade for the private sector was the easiest path in strengthening opportunities for economic crime, diversity in banking violations, and breaching the law." Including cross-border money laundering crimes by facilitating the trade finance system, which is based on soft foreign transfer.
He continued, "Also, the banking system could not return to the traditions of financing civil trade, which requires opening documentary credits with the network of correspondents from international banks, except by a small percentage that does not exceed 5%, which is a low percentage compared to (colored) documentary transfers with their impure information, which hid their problems with the world." foreign affairs, as well as damage to the national economy under the pretext of financing trade in foreign goods and services.
And Saleh continued, "Thus, the electronic platform for external transfer has become today the important reform tool in combating the corrupt flow of illegal funds and an opportunity to improve banking performance with high competitiveness at the same time, in a way that serves the interest of the citizen and the national economy at the same time."
The Prime Minister confirmed yesterday, during an interview with a number of television stations, that Iraq's trade is distorted due to money laundering and smuggling, in addition to the lack of reliability in the banking system. https://www.mawazin.net/Details.aspx?jimare=224992
The Central Bank Issues New Instructions To Banks Regarding Electronic Payment
Expenses Economy News / Baghdad The Central Bank issued new instructions to adapt the conditions of all licensed banks to the requirements for the spread of point-of-sale (POS) devices.
The instructions included, according to a document seen by "Al-Iqtisad News", reducing the merchant's commission to be 1% fixed instead of 2% in favor of the collecting party for a period of two years, provided that it is re-examined after the return of the mentioned period or according to market requirements, and the competition is in the quality of the service provided.
It also included that financial transactions (settlements) with merchants (points of sale) be through opening bank accounts in the Iraqi dinar currency for merchants and issuing a prepaid card in the dinar currency with a ceiling of 13 million dinars, and that the amounts available in them result from sales of goods, products or services exclusively and that they are For merchants or individuals of a commercial nature, such as (kiosks, shops, street vendors, etc.)
The bank stressed that banks should develop a support service for merchants who own points of sale devices and free phone numbers for the purpose of assisting and supporting them directly and continuously and analyzing the performance of merchants on an ongoing basis through loyalty points or prizes, for example. https://economy-news.net/content.php?id=33688
Managing The Central Bank Of Iraq From The Sidelines Of The Past To The Body Of The Future
Sameer Al-Nusairi In December 2022, the book entitled (Management of the Central Bank of Iraq from the sidelines of the past to the body of the future) was published by its author, Professor Ali Mohsen Al-Alaq. The book discusses, scientifically and analytically, an important stage of the challenges that the Central Bank of Iraq experienced during the most exceptional circumstances that Iraq suffered from economically. And security and political for the period (2015-2020), which is the period in which he assumed responsibility after his appointment as governor of the Central Bank of Iraq.
This relationship deals with scientific, economic and monetary analysis, the most prominent challenges that faced monetary policy and stood as an obstacle to achieving stability in the financial system and the monetary system, and its relationship to the economic reality of the country and its rentier and its dependence mainly on oil revenues and its impact on international economic variables, especially the instability of oil prices and the deficit in non-oil revenues.
The local level and the deficit in the balance of payments and public budgets, and the central bank endured the crises that faced our national economy and bridged the deficit in the general budgets by rediscounting the treasury transfers issued by the fiscal and its effects on the decline in foreign cash reserves to the limits of 43 billion dinars in 2016.
The book includes an introduction and nine chapters. The first chapter deals with strategic planning and change management, as the goals that have emerged in central banks are the shift from control based on rules to control based on risks and the transition from the goal of fighting inflation to stimulating economic growth. The second chapter presents jobs, tools and programs.
And the criteria that aim to achieve the two objectives above and the application of prudential control standards. The third chapter includes the management of foreign central bank reserves that lead to a set of basic objectives in enhancing confidence in monetary policy and the exchange rate.
he fourth chapter includes features, determinants and indicators of the independence of the central bank. The fifth chapter deals with The topic of selling foreign currency through the window of the Central Bank, as well as the justifications, facts, and economic, legal, financial, commercial, and monetary phenomena that stand behind the window for selling currency.
Chapter Six also clarified the phenomenon of money laundering and terrorist financing in the background, risks, channels, sources and difficult conditions experienced by the central bank administration in filtering the notes of the Financial Action Task Force (FATF) and changing its classification from the gray list to the usual follow-up. Chapter Seven dealt with an overall presentation on the banking sector in Iraq as the main component. of the financial system and subject to the supervision and control of the Central Bank.
The chapter also deals with the completed strategic projects to organize and stimulate the sector and mechanisms to enhance financial stability and clearly refer to bank credit and its utmost importance in achieving economic and banking reform. Chapter Eight presents a presentation of the great efforts that spanned five years (2015-2020 ) with the International Monetary Fund to reveal basic axes and phenomena closely related to the Iraqi economy and public finance in particular and what has been achieved in the framework of economic reform and financial discipline, and the ninth chapter showed with high transparency the features of fundsIraq before and after 2003 in its overall form.
The chapter also included the debts of Iraq before and after 2003, the assets of the Central Bank and what happened in its foreign currency treasury. The chapter also included the reconciliation of Iraq’s funds for the period from 2004 to 2019 and the nature of the relationship between total revenue and total spending.
Through my careful reading of what was included in the book in nine analytical chapters for a group of topics related to monetary and financial policies, which are the two main pillars of the economic policy of Iraq, I found that Professor Al-Alaq made a great intellectual and economic effort in presenting an accurate diagnosis of the most prominent challenges, achievements, and structural, structural and technical developments in managing The Central Bank, which had a fundamental and important role in drawing the road map for the new, fifth era of the Central Bank, which began in 2015 and is still continuing with a steady approach and pace to achieve the objectives of monetary policy, support and stimulate the national economy, and achieve successful financial stability, which is the central goal of comprehensive and radical economic reform.
Professor Al-Alaq dealt with the challenges and repercussions faced by the monetary policy with clear and distinct efforts of the cadres of the Central Bank with a high patriotic spirit and keenness to make changes in the programs and policies that moved the Mercantile Bank from working methods in the twentieth century to working methods in the twenty-first century with all its insistence on Realizing the achievements made at all levels and in all banking, technical, technical and administrative fields.
In 554 pages, the book discussed the scientific, economic and monetary procedures and policies adopted by the Central Bank in achieving the goals contained in Law No. 56 of 2004. It is noted from what was mentioned in the book that the Central Bank of Iraq has proven that it is a solid sovereign financial economic institution and it is specialized in drawing paths and policies for monetary policy applications and supervision.
And control over the banking sector and is considered the financial advisor to the government, and his role was fundamental in managing the economic process in Iraq after the change in 2003, especially in periods of confusion of vision, unclear financial policies, weak coordination with monetary policy, different economic policies, and lack of clarity in the economic approach for the new construction of the national economy, except The Central Bank of Iraq and the banking sector have made great developmental strides towards the transition from banking activity to real and developmental activity, especially during the years discussed by the book.
As great achievements have been made in the field of reducing the inflation that Iraq was suffering from and bringing it to good rates for the years 2107-2019 amounting to less than 2% as indicated by financial data and indicators, and it was able to maintain for several years the exchange rate of the Iraqi dinar against the US dollar in a balanced manner within the average.
The target is despite the fluctuation and variation up and down depending on the difficult economic conditions, the financial and economic crisis due to the decline in oil prices, the war on terrorism and the speculations that occur in the markets, as it is noted that the daily intervention of the Central Bank of Iraq in managing the sale of foreign currency in light of monetary policy data despite the criticisms and observations
However, it contributed significantly to maintaining monetary stability and facing any quantities needed by the market for the purpose of financing trade for the private sector and meeting the needs of the Ministry of Finance in terms of local currency.
In order to face these criticisms, the bank issued instructions and controls consistent with international standards and the requirements of compliance regulations and rules through its implementation of the electronic platform for external transfer and control of the breaches that were occurring and focusing on the safety and credibility of external transfers by auditing, reviewing, evaluating and classifying banks for the purposes of the currency sale window in order to control the movement of foreign currency
And limiting its disposal other than the specific economic goals of monetary policy applications, as dealing in selling foreign currency is considered one of the largest open market operations in controlling local liquidity levels and putting the cash surplus in its proper paths, which is a good economic indicator that the exchange rate is stable despite the difficult economic conditions that Iraq has gone through.
The Central Bank of Iraq was also able to maintain a good foreign cash reserve, which currently amounts to about 110 billion dollars, despite the instability of global oil prices and the conditions of economic stagnation. Nevertheless, it formed a safe cover for the Iraqi dinar and to cover foreign trade according to the internationally approved standard rate.
The calculated and bold economic and financial measures The Central Bank and its successful experience in providing continuous support to the Iraqi economy, in addition to its initiative to revitalize the economic cycle and allocate six trillion dinars to finance and operate small and medium projects in the sectors of housing, agriculture and industry at the time, which has developed to 18 trillion dinars now and support the liquidity of banks and achieve two economic and social goals in At the same time,
all of this was accompanied by structural and structural developmental developments in all specialized and qualitative departments of the Bank, focusing on total quality management and institutional development, adopting international standards, and adhering to rules and regulations.
Compliance, risk management, combating money laundering and terrorist financing, banking awareness, and technical developments in payment systems, electronic payment and information technology.
Therefore, this book, which is a transparent, analytical, impartial and professional documentation, stems from the national keenness of Professor Al-Alaq to highlight the bright points and areas that have emerged on the surface and achieved economic steadfastness in the most severe economic and financial crises that our country has gone through in its modern history, and the book with its nine chapters indicates efforts, transparency and disclosure The Central Bank of Iraq, which is a national action document in the economic field in Iraq that documents an important stage of economic resilience and aims to achieve financial stability and economic growth. Scientific award for its approval as part of its curricula specialized in finance and banking. https://economy-news.net/content.php?id=33673
To read more current and reliable Iraqi news please visit BondLady’s Corner:
Goldilocks "The day of backing a currency by a promise is fading away" 4-19-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
Good morning Dinar Recaps,
Goldilocks posted commentaries and link this morning:
"Russia Prepares Draft Law to Allow Crypto for International Trade"
We have several countries around the world that are proposing and opening the door for the use of digital tokens as a form of payment instead of traditional lines of credit through the dollar to settle their International Settlements.
This will minimize the use of the dollar and level the playing field among East and West countries.
It will create demand for currencies around the world to receive the opportunity for such demand to raise the value of National Currencies around the world.
Goldilocks and Seeds of Wisdom
Thank you RJ
Good morning Dinar Recaps,
Goldilocks posted commentaries and link this morning:
"Russia Prepares Draft Law to Allow Crypto for International Trade"
We have several countries around the world that are proposing and opening the door for the use of digital tokens as a form of payment instead of traditional lines of credit through the dollar to settle their International Settlements.
This will minimize the use of the dollar and level the playing field among East and West countries.
It will create demand for currencies around the world to receive the opportunity for such demand to raise the value of National Currencies around the world.
© Goldilocks
https://watcher.guru/news/russia-prepares-draft-law-to-allow-crypto-for-international-trade
"BlackRock’s assets seen topping US$15 trillion in five years’ time"
We are living in a different world. Assets are currently being tokenized and collateralized by real world assets. "BlackRock’s assets seen topping US$15 trillion in five years’ time"
We are living in a different world. Assets are currently being tokenized and collateralized by real world assets. The day of backing a currency by a promise is fading away.
The day of collateralizing assets is here to stay.
Black Rock has several estates around the world to offer up as collateralized tokens to back assets on the markets.
It is the new way of doing business that will create trillions of dollars for Black Rock and make millionaires out of those who see its potential in the assets they obtain on the markets.
Real Estate is a commodity. When real estate is sold in bulk quantities, it gives a solid value to the assets they support.
© Goldilocks
https://www.businesstimes.com.sg/companies-markets/blackrocks-assets-seen-topping-us15-trillion-five-years-time
https://www.investingcube.com/asset-tokenization-and-fractional-ownership-the-masses-will-invest-in-everything/
~~~~~~~~~~
Ethereum Network Completes ‘Shanghai’ Upgrade
By Joanna F. Wasick (https://www.bakerlaw.com/JoannaFWasick)
Ethereum recently announced the completion of its “Shanghai” upgrade (also known as Shapella). This hard fork upgrade marks the completion of Ethereum’s multiyear transition from a proof of work consensus mechanism to proof of stake.
Most notably, the upgrade enables network participants who had staked their ether (ETH) on the network to unstake and make withdrawals for the first time. Other technical improvements in the Shanghai upgrade are intended to improve the transactional aspects of the Ethereum network. Despite some concerns that the upgrade would cause ETH prices to drop, the price of ETH remained largely flat during the transition.
https://www.jdsupra.com/legalnews/cbdc-pilot-announced-ethereum-upgrade-9457349/
For more information, please refer to the following links:
Ethereum’s Shanghai Upgrade Is Complete, Starting New Era of Staking Withdrawals
~~~~~~~~~~
TEHRAN (Tasnim) – Asian countries have raised a proposal to set up an “Asian Monetary Fund” to cut dependency on the US dollar and other important Western currencies in order to carry out their financial transactions using their national currencies and/or common Asian currencies.
Our Asian countries and their currencies are setting up their own monetary fund to support their own countries' use of local National Currencies.
This is just simply the way a collateralized world works. The new economy or should I say the new global economy belongs to the people.
Being able to invest in companies and places of value on the marketplace gives partial ownership of these places to the people.
These new choices will give rise to demand and value to currencies around the world.
© Goldilocks
https://www.tasnimnews.com/en/news/2023/04/10/2878150/asian-monetary-fund-final-nail-in-coffin-of-dollar-dominance
~~~~~~~~~~
Goldilocks' Telegram Room
https://t.me/+YU9UrHLxFbszOTJh
Goldilocks on the Seeds of Wisdom Team Website
https://www.seedsofwisdomteam.com/
Thank you Dinar Recaps
The day of collateralizing assets is here to stay.
Black Rock has several estates around the world to offer up as collateralized tokens to back assets on the markets.
It is the new way of doing business that will create trillions of dollars for Black Rock and make millionaires out of those who see its potential in the assets they obtain on the markets.
Real Estate is a commodity. When real estate is sold in bulk quantities, it gives a solid value to the assets they support.
© Goldilocks
https://www.businesstimes.com.sg/companies-markets/blackrocks-assets-seen-topping-us15-trillion-five-years-time
https://www.investingcube.com/asset-tokenization-and-fractional-ownership-the-masses-will-invest-in-everything/
~~~~~~~~~~
Ethereum Network Completes ‘Shanghai’ Upgrade
By Joanna F. Wasick (https://www.bakerlaw.com/JoannaFWasick)
Ethereum recently announced the completion of its “Shanghai” upgrade (also known as Shapella). This hard fork upgrade marks the completion of Ethereum’s multiyear transition from a proof of work consensus mechanism to proof of stake.
Most notably, the upgrade enables network participants who had staked their ether (ETH) on the network to unstake and make withdrawals for the first time. Other technical improvements in the Shanghai upgrade are intended to improve the transactional aspects of the Ethereum network. Despite some concerns that the upgrade would cause ETH prices to drop, the price of ETH remained largely flat during the transition.
https://www.jdsupra.com/legalnews/cbdc-pilot-announced-ethereum-upgrade-9457349/
For more information, please refer to the following links:
Ethereum’s Shanghai Upgrade Is Complete, Starting New Era of Staking Withdrawals
~~~~~~~~~~
TEHRAN (Tasnim) – Asian countries have raised a proposal to set up an “Asian Monetary Fund” to cut dependency on the US dollar and other important Western currencies in order to carry out their financial transactions using their national currencies and/or common Asian currencies.
Our Asian countries and their currencies are setting up their own monetary fund to support their own countries' use of local National Currencies.
This is just simply the way a collateralized world works. The new economy or should I say the new global economy belongs to the people.
Being able to invest in companies and places of value on the marketplace gives partial ownership of these places to the people.
These new choices will give rise to demand and value to currencies around the world.
© Goldilocks
https://www.tasnimnews.com/en/news/2023/04/10/2878150/asian-monetary-fund-final-nail-in-coffin-of-dollar-dominance
~~~~~~~~~~
Goldilocks' Telegram Room
https://t.me/+YU9UrHLxFbszOTJh
Goldilocks on the Seeds of Wisdom Team Website
https://www.seedsofwisdomteam.com/
Thank you Dinar Recaps
Wednesday Morning Iraq Economic News Highlights 4-19-23
Wednesday Morning Iraq Economic News Highlights 4-19-23
Economist: We Will Not Face Challenges Despite The Collapse Of Some US Banks
Today Information / Baghdad.. The economist, Dr. Safwan Qusay, confirmed that Iraq will not suffer from financial challenges in light of the collapse of some US banks, pointing out that oil prices will not witness a drop in prices over three years.
Qusai told Al-Maalouma, "Iraq possesses rounded sums from past years and reserves amounting to $115 billion, and therefore Iraq does not face any major challenge in light of the collapse of some US banks."
Wednesday Morning Iraq Economic News Highlights 4-19-23
Economist: We Will Not Face Challenges Despite The Collapse Of Some US Banks
Today Information / Baghdad.. The economist, Dr. Safwan Qusay, confirmed that Iraq will not suffer from financial challenges in light of the collapse of some US banks, pointing out that oil prices will not witness a drop in prices over three years.
Qusai told Al-Maalouma, "Iraq possesses rounded sums from past years and reserves amounting to $115 billion, and therefore Iraq does not face any major challenge in light of the collapse of some US banks."
He added, "Oil prices will not decline in the next three years and may witness a decrease during a limited period, but in general they will not decline much, especially since there are agreements between Russia, Saudi Arabia and Iraq that are similar to the agreement."
And he indicated that "oil prices are still stable and growth rates in China are in a positive state, as the imposition of new sanctions on China may reduce prices, but it will create a process of tension between East and West, and thus oil prices will increase." ended 25 n LINK
A Leader In The National: The 2023 Budget Will Witness Justice In Distributing Shares Of The Region's Governorates
Time: 04/19/2023 {Political: Al Furat News} A leadership in the Patriotic Union of Kurdistan expected a fair distribution of the shares of the provinces of the Kurdistan Region from the financial budget for the year 2023.
Surji told {Euphrates News} agency: "The ministers and officials of the regional government belonging to the Patriotic Union did not attend the meetings held by the Baghdad government and the region's delegations, but the agreement on the region's share was made with more than 12% of the budget."
He added, "With regard to the region's budget, it will be distributed on the basis of the population density of the governorates of Erbil, Dohuk, Sulaymaniyah and Halabja."
He pointed out that "in the past, there was no transparency in the distribution due to the lack of clarity in the numbers, financial amounts and quantities of oil exported as well, but now things will look clearer."
It is noteworthy that the House of Representatives finished the second reading of the draft financial budget law, amid the odds of voting on it after the Eid al-Fitr holiday.
And Prime Minister Muhammad Shia al-Sudani announced yesterday that: "The total percentage of allocations for the Kurdistan region in the budget is still constant, which is 12.67, and it has not been changed."
He stressed that "the duty of the federal government is to pay the salaries of employees, whether they are in the region or any governorate, and it is not an honor, and this is what the Council of Ministers is working on." From.. Raghad Dahham LINK
Parliamentary Concern About The Excessive Budget Deficit, Amid Warning Of An Explosion Of A Crisis
Today Information / Diyala.. Representative Muhammad Al-Shammari described, on Wednesday, the 2023 budget deficit as disturbing and surprising, indicating that Parliament intends to reduce the percentage to the lowest possible level.
Follow the "information" channel on Telegram.. news that does not need to be documented..
Al-Shammari said in an interview with Al-Maalouma, "The budget law is very important for the continuity of the work of state institutions and the disbursement of dues and salaries, but in return it must adopt clear contexts that contribute to preventing any financial crises."
He added, "The 2023 budget deficit amounts to 64 trillion dinars, or about 30% of the total budget, and this matter is of concern in three directions, the most prominent of which is that there are determinants of the deficit percentage in budgets."
He pointed out that "reducing the deficit is a priority for the House of Representatives, which gives high flexibility in ensuring the payment of financial dues without any problems, and this is what we are currently seeking to support."
Two days ago, the House of Representatives conducted the second reading of the 2023 budget law, amid expectations that its resolution would take another few weeks. LINK
Al-Sudani: The State Loses 6 Months Every Year Because There Is No Budget
Prime Minister Mohamed Shia Al-Sudani affirmed that all works and projects depend on the government's seriousness in implementing them.
Al-Sudani said, in an interview with a group of Iraqi TV stations, that "all works and projects depend on the government's seriousness in implementing them," pointing out that "the Sadr City housing project will be implemented soon."
He added, "There is a group of residential cities that will be completed successively in accordance with administrative procedures," noting that "the tripartite budget guarantees financial stability."
He continued, “We have had many projects lagging behind since 2012,” noting that “the exchange rate of the dollar against the dinar will decrease to reach its official rate.”
He pointed out that "the Iraqi dinar is strong and the financial situation is at its best," stressing that "the exchange rates of the dollar tend to stabilize and reach the official price soon."
He went on to say, "We are close to completing investigations into the cases attributed to those involved in torturing those arrested on corruption charges. https://takadum-news.com/archives/160249
Parliamentary Finance: Al-Sudani Corrected The “Neglect” Of Three “Marginalized” Groups In The Budget
The Parliamentary Finance Committee revealed, on Tuesday, that the draft federal budget law “neglected” three “marginalized” social segments for which no money has been allocated, confirming that the government agreed to include these segments in the budget.
Committee member Jamal Cougar said, in a press interview seen by Taqaddam, that “the Parliamentary Finance Committee met a few days ago with Prime Minister Muhammad Shia’ al-Sudani to discuss the general budget law before its approval in Parliament, and made a number of observations.”
He added, "During the meeting, members of the Finance Committee submitted a number of requests and proposals regarding the budget law, including that the government send a copy of the oil agreement between the federal government and the Kurdistan Regional Government in order to include it in the budget law."
"Al-Sudani told us that voting on the budget law should not include the marginalization of any segment, because that means marginalizing it for three years, and there are segments that need special care and must be included in the budget law," Cougar continued.
He explained, "We submitted three proposals to be included in the budget law, the first of which is cancer patients who suffer from the lack of government hospitals of their own, and we asked that there be a government hospital for cancer treatment in every governorate of Iraq, including the governorates of the Kurdistan Region."
He pointed out that “there is also a problem with regard to drug abuse, despite the high rates of drug abusers, and in return, instead of treating them, they are thrown in prisons, and we proposed building addiction treatment and rehabilitation centers in all Iraqi governorates.”
And he added, "The third proposal is related to autism patients, and this complex disease does not have its own government hospitals, and we asked the Prime Minister to build hospitals or special centers for autistic patients."
Cougar confirmed that “Prime Minister Muhammad al-Sudani agreed with the proposals submitted by members of the Finance Committee, and expressed his readiness to meet them.”
He pointed out that “the members of the Finance Committee also proposed to circumvent the local factories and factories that produce inside Iraq, as they are deprived of obtaining the dollar at the official price, while the importer gets it at the official price easily, and therefore there is no balance between supporting the local product and importing, but rather that this matter kills Local production opportunities are likely to be in favor of the importer, so we asked that there be special government support for this segment.
It is noteworthy that the Iraqi parliament began yesterday, Sunday, the first reading of the draft federal budget law for the years 2023, 2024 and 2025, and yesterday night, Monday, it completed the second reading of the draft law and kept the session open to complete the reading on Tuesday evening.
https://takadum-news.com/archives/160226
SOMO: Selling About A Billion Liters Of Oil Derivatives In A Month
Energy Economy News / Baghdad The Petroleum Products Marketing Company revealed, on Tuesday, the amount of its sales of petroleum derivatives during the month of March.
The company said in a statement that "the quantity of gasoline sold of all kinds (normal - enhanced - super) amounted to approximately (900 million and a half million liters)," explaining that "the quantity sold of white oil amounted to approximately 112 million liters."
And she added that "the quantity sold of kerosene oil in both types (regular and heavy) amounted to more than 780 million liters," noting that "the quantity sold of fuel oil in both types (improved and normal) / more than (one billion) liters."
The company also indicated that "the sold quantity of jet fuel / jet A1 amounted to approximately (9) million liters, while sales of military jet fuel / JBA amounted to more than (one and a half million liters)."
And she explained that "the oil products exported for the benefit of the marketing company of fuel oil amounted to more than 416 million liters, and of naphtha / more than (101) million liters."
And the company continued, "These quantities sold include quantities supplied on credit to power stations (gas oil, fuel oil), as well as quantities supplied to the displaced "for free" in the company's branches, whose stay is paid later by the Displaced Relief Committee."
https://economy-news.net/content.php?id=33657
Al-Sudani Discusses Efforts To Reform The Iraqi Economy With The US Secretary Of State
Money and business Economy News / Baghdad Today, Tuesday, Prime Minister Muhammad Shia Al-Sudani affirmed Iraq's firm stances regarding security and economic challenges, regionally and internationally.
Al-Sudani's office said in a statement that the latter "received a phone call from US Secretary of State Anthony Blinken, and they discussed bilateral relations between Iraq and the United States, and ways to enhance them at various levels and fields."
He added, "During the call, they discussed the Iraqi government's efforts in the field of economic reform and diversification of development sources, in addition to the performance of the Iraqi security forces in pursuing terrorist remnants, and the role of the American side in providing assistance in the field of military advice and training."
During the call, the Prime Minister affirmed, according to the statement: "Iraq's firm positions on security and economic issues and challenges, at the regional and international levels, and strengthening efforts for calm and strengthening the policy of dialogue to resolve differences."
https://economy-news.net/content.php?id=33659
Deputy: The Government Is Serious About Paying Off All Debts
Money and business Economy News – Baghdad Parliament member Jawad al-Bolani affirmed, on Wednesday, that the government is serious about paying all debts owed by Iraq.
Al-Bolani said, "The payment of debts follows a legal and financial mechanism, and the Ministry of Finance, the Central Bank and the Iraqi government put it in the budget law and take into account the state's financial ability to pay off debts and loans."
And he stated, "At the level of Parliament and the political situation, the political forces are not interested in increasing borrowing, and the government is directly responsible for setting schedules and paying off debts, short, medium and long-term, and according to the method of dealing with the Ministry of Finance in this file."
He stressed that "the government is serious about paying all Iraqi debts," noting that "the expansion of borrowing is not in the interest of the country." https://economy-news.net/content.php?id=33674
"Tidbits From TNT" Wednesday Morning 4-19-2023
TNT:
Tishwash: Deputy: The government is serious about paying off all debts
Parliament member Jawad al-Bolani affirmed, on Wednesday, the government's seriousness in paying all debts owed by Iraq.
Al-Bolani said, "The payment of debts follows a legal and financial mechanism, and the Ministry of Finance, the Central Bank and the Iraqi government put it in the budget law and take into account the state's financial ability to pay off debts and loans."
He added, "At the level of Parliament and the political situation, the political forces are not interested in increasing borrowing, and the government is directly responsible for setting schedules and paying debts, short, medium and long-term, and according to the method of dealing with the Ministry of Finance in this file."
TNT:
Tishwash: Deputy: The government is serious about paying off all debts
Parliament member Jawad al-Bolani affirmed, on Wednesday, the government's seriousness in paying all debts owed by Iraq.
Al-Bolani said, "The payment of debts follows a legal and financial mechanism, and the Ministry of Finance, the Central Bank and the Iraqi government put it in the budget law and take into account the state's financial ability to pay off debts and loans."
He added, "At the level of Parliament and the political situation, the political forces are not interested in increasing borrowing, and the government is directly responsible for setting schedules and paying debts, short, medium and long-term, and according to the method of dealing with the Ministry of Finance in this file."
Bolani stressed that "the government is serious about paying all Iraqi debts," noting that "the expansion of borrowing is not in the interest of the country link
CandyKisses: Al-Sudani: Our financial situation is at its best and the Iraqi dinar is strong
The Prime Minister, Mohammed Shiaa Al-Sudani, pledged that the exchange rate of the US dollar will return to 1320 dinars, and that the financial situation in Iraq will be at its best.
It is noteworthy that Al-Sudani assumed the presidency of the current government, on October 27, 2022, according to a political agreement paper, which resulted from the "State Administration" coalition, and the age of his government was about 6 months.
Al-Sudani said, during an interview with a group of Iraqi television stations, followed by NRT Arabia, that "the tripartite budget means economic stability and the positive message of the private sector, and all international financial institutions advise that the private financial, social and economic situation of Iraq needs a medium-term budget."
He added that "maintaining the continuity of the ration card, the growing need for electricity stations fuel, and the entitlement to unpaid loans, led to the deficit and inflation in the budget, and there are many treatments for it."
Al-Sudani pointed out that "the provinces now have 8-9 trillion allocations in the food security law, and the disbursement did not exceed 10%, and in the budget there is 4.5 trillion between the petro dollars and the development of the regions, and it is with the projects of ministries that can cover the needs of the provinces during the rest of this year," distinguishing by saying: "We must overcome a situation where the budget is an opportunity to political blackmail or put the interests of this or that party, it is a budget for all Iraqis and is waiting for by the people and institutions."
the political agreement
On the political agreement paper, the Prime Minister said: "We respect the agreement that produced the State Administration Coalition, contributed to political stability and resulted in a political agreement with general principles voted by the House of Representatives, and it represents an incubator for this government."
Al-Sudani refuted that there are any differences in the state administration coalition, insofar as views regarding the budget or the principle of partnership, and partnership outside the scope of the constitution are unacceptable, he said.
He pointed out that "the total percentage of the allocations of the Kurdistan Region in the budget is still fixed, which is 12.67, and has not been changed," stressing that "the agreement on April 4 with the Kurdistan Regional Government is important, and regulates the relationship that the government contributed to regulating during the contents it put in the draft tripartite budget."
Al-Sudani said that "the loss of revenues of 475,000 barrels per day is a large number and damage will affect everyone," adding: "Within days we will go to the signing of contracts between SUMO and oil companies, and the Turkish side is notified of the resumption of exports from Kurdistan."
The Prime Minister reiterated that "the duty of the federal government to pay the salaries of employees, whether they are in the region or any province, and it is not honorable, and this is what the Council of Ministers is working on."
dollar and dinar
Regarding the exchange rate, Al-Sudani stated that "there is cooperation between the Kurdistan Regional Government and the Central Bank; so that it has branches in the region, for the purpose of providing foreign currency to traders present and working there, as well as citizens in accordance with controls and activities."
He pointed out that "all fluctuations in the dollar price were the result of the non-implementation of the agreement signed between the government and the Central Bank with the US Federal Reserve in the previous stage, and the duration of the agreement was two years, and ended on November 15, 2022, less than a month after the current government began its tasks."
“We decided to adhere to the standards of the global banking system, we started intensive procedures in the central bank, the government and the private sector, and we were interested in maintaining food prices,” he continued.
"Over time, the process of compliance with banking standards increased, all traders began to enter the electronic platform, and the government helped them obtain foreign currency at the official price instead of relying on illegal trade," Al-Sudani said.
He stressed that "the number of traders using the electronic platform is increasing, and the parallel price has begun to fall close to the official price of foreign currency, and will continue to decline," adding: "The Iraqi dinar is strong, and our financial situation is at its best."
Al-Sudani continued: We have confidence in our Iraqi currency, and our procedures are moving in the right direction, and in every cabinet session there is a decision or action towards economic reforms and improving the investment environment," stressing that "the exchange rate will return to 1320 dinars to one dollar."
https://www.nrttv.com/ar/detail3/11570
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Tishwash: Under the leadership of his governor, Ali Al-Alaq, the Central Bank of Iraq launches a new reform package
The Central Bank confirmed that the reform package is a major shift for the organized economy, while indicating that dealing in the Iraqi dinar will extend to the private sector.
"The government supported the reform package launched by the Central Bank," said the bank's advisor, Ihsan Shamran, in a statement to the official agency, noting that "there is great harmony between the financial authority and the government."
He added, "Countries whose legal systems are good have an excellent economy because they do not deal in dollars," noting, "Companies and government institutions have responded, including Iraqi Airways, by relying on the strength of the Iraqi dinar, regardless of the exchange rate."
He continued, "The public began to deal with the Iraqi dinar as a national currency," explaining that "
And he stated, "This is considered a real step and a big shift for the organized economy," explaining, "The real value of the dinar that exists now is more than one and a half dinars, because the bank's reserves are very high and therefore the national currency cover is high."
And he stated, "Iraq's economic interface is the central bank, which takes corrective steps, the most important of which is the platform that transformed foreign trade in Iraq into real trade, after the relationship between the dollar that exits the country and the commodities was disconnected between them," pointing out that "through the platform All these matters have been seized, including the dollar that is sold by the central bank to the bank and then to the public, and the public asks the bank to transfer it to the merchant who exports the commodity to Iraq. It has been seized and has become clear.
He pointed out, "Iraq and the Central Bank are in compliance with international concerns, including combating money laundering and financing terrorism," explaining that "we have exited the gray area and turned into a respected compliant country, and the Central Bank has now become an internationally recognized institution, as compliance is a feature of the ethical and legal features of work." . link
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Mot: ..... Yeppers!!! -- Here it Tis!!! ~~~
Tuesday Evening Iraq Economic News Highlights 4-18-23
Tuesday Evening Iraq Economic News Highlights 4-18-23
It Will Be Deducted From The Budget." Baghdad Will Send 400 Billion Dinars To The Region
The Iraqi Ministry of Finance building 2023-04-18 Shafaq News / A deputy from Sulaymaniyah Governorate revealed today, Tuesday, that the Iraqi government decided to send 400 billion to the Kurdistan Region after the Eid holiday.
MP Bajyar Rashid said in an interview with Shafaq News agency; "The Iraqi government will send 400 billion dinars to the Kurdistan Region to pay the salaries of employees for a period of two months until the budget is approved," he said.
Tuesday Evening Iraq Economic News Highlights 4-18-23
It Will Be Deducted From The Budget." Baghdad Will Send 400 Billion Dinars To The Region
The Iraqi Ministry of Finance building 2023-04-18 Shafaq News / A deputy from Sulaymaniyah Governorate revealed today, Tuesday, that the Iraqi government decided to send 400 billion to the Kurdistan Region after the Eid holiday.
MP Bajyar Rashid said in an interview with Shafaq News agency; "The Iraqi government will send 400 billion dinars to the Kurdistan Region to pay the salaries of employees for a period of two months until the budget is approved," he said.
Rashid added, "Sending the amount requires the regional government to pay it or deduct it from its share in the federal budget after its approval," explaining that "the money transfer is only an administrative procedure, and it is scheduled to arrive in the Kurdistan Region after the Eid al-Fitr holiday."
A source in the Ministry of Finance and Economy of the Kurdistan Regional Government told Shafaq News agency, "The process of distributing April salaries will begin after the Eid al-Fitr holiday." LINK
The Parallel Dollar Continues To Stabilize In The Al-Kifah And Al-Harithiya Stock Exchanges
Information / Baghdad.. The exchange rate of the dollar against the dinar in the parallel market continues to stabilize, as it recorded an exchange rate of 144,300 dinars for every 100 dollars.
The Al-Maalouma correspondent stated that the Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 144,300 dinars for every 100 dollars.
He added that, the exchange rates of the dollar in exchange shops and local markets in Baghdad: the selling price is 144,750 dinars per 100 dollars, while the purchase price is 143,750 dinars per 100 dollars. Ended25 s LINK
Terrifying Numbers.. Presidencies Double Their Shares In The Budget And Ignore Reform
Today Information/Baghdad.. The head of the Faw Zakho Assembly, Representative Amer Abdul-Jabbar, revealed, on Tuesday, shocking numbers of presidencies' allocations in the 2023 budget, pointing out that the budget has a large exaggeration compared to the governorates' allocations .
Follow the "information" channel on Telegram.. news that does not need to be documented..
Abdul-Jabbar said, in an interview with Al-Maalouma Agency, that "there is an exaggeration in the allocations of the presidency compared to the allocations for the year 2021, and these allocations exhaust the 2023 budget."
He added, "The allocation of the presidency in the year 2021 was 60 billion dinars, while it has now become 94 billion dinars. As for the prime minister, it was 475, so it became one trillion and 200 million." Pointing out
that the agencies affiliated with the Prime Minister's Office increased their allocations from 378 billion dinars to 990 billion dinars,
stressing that "the allocation of the Cabinet Secretariat increased from 186 billion dinars to 930 billion dinars, and he continued that the Prime Minister's Office and its affiliates cost the state treasure 3 trillion."
And the Information Agency had obtained documents indicating an increase in the allocations of the 2023 budget and the allocations of presidencies. LINK
With The Imminent Passage Of The Budget.. Claims To Cancel The Reconstruction Funds Due To Corruption
Today 14:19 information/special.. The leader of the Wisdom Movement, Furat Al-Tamimi, demanded, on Tuesday, the cancellation of the funds for the reconstruction of the liberated areas, with the imminent passage of the draft budget for the current year 2023, due to suspicions of corruption and waste of public money.
Al-Tamimi said in an interview with Al-Maalouma, “The goal of establishing the Reconstruction Fund for the areas liberated from terrorism, and despite our many observations on it, was to help the liberated areas overcome the crisis of devastation caused by the remnants of terrorism, but unfortunately it was exploited politically to a large extent.
He added, "The cancellation of the Reconstruction Fund will end four aggravating negatives, the most prominent of which is preventing the transfer of state funds into banners for political promotion, in addition to correcting a major mistake because the fund cannot supervise or monitor its projects." , which raises many suspicions of financial corruption."
And he pointed out that "transferring the Fund's money to the governorates directly, and it is the one that sets plans to support the liberated areas according to clear mechanisms, is the best option," noting that he "supported the approach of many deputies in order to proceed with this path during 2023.”
The Reconstruction Fund is facing harsh criticism from political forces and deputies because of its exploitation in promoting some alliances. LINK
Deputy: The 2023 Budget Will Undergo A Process Of Streamlining And Amending It To Reduce Its Deficit
Member of Parliament, Sherwan Al-Dobardani, confirmed that the 2023 budget is subject to a process of streamlining and a number of amendments to reduce the deficit.
Al-Dobardani said in a press interview seen by “Takadum” that “the report of the Finance Committee regarding the budget will be taken into account, as it will be streamlined and some amendments will be made to it to reduce the rate of inflation in it, ruling out the Parliament’s proceeding to vote on the federal budget in light of the large deficit that it included.”
He added, "The House of Representatives is keen to address the deficit in the budget, by reducing and transferring some amounts of ministries and others to reduce the deficit rate."
Al-Dobardani explained that “approving the budget with this large size of the deficit is not possible, especially since Iraq depends primarily on oil, which is subject to changes from time to time in its prices,” pointing out that “reducing the deficit is not by canceling entire sections of the budget, but by reducing all the doors".
He continued, "Most of the observations that will be focused on relate to the possibility of reducing the fiscal deficit in the budget by reducing ruling expenditures, public debt, and tax regulation."
https://takadum-news.com/archives/160055
Passing Iraq's Budget Is "Not Easy"... Disputes And Objections Impede Its Legislation
2023-04-18 Shafaq News/ The Parliamentary Finance Committee revealed, on Tuesday, that there are political differences and objections to the draft state budget law, noting that passing it "will not be easy".
Committee member Jamal Cougar told Shafaq News agency, "The budget law is not devoid of political differences, especially since there is an objection by various political parties to making the budget for three years, as well as a political objection to the shares of the financial governorates."
And Cougar indicated that "after the second reading of the budget law, the budget law will enter into dialogues and negotiations between the political forces for the purpose of agreement and agreement on it, and to discuss the possibility of amending some paragraphs of the law, and for this reason passing the budget will not be easy with the presence of political differences over it."
For his part, the researcher in economic and political affairs, Nabil Jabbar Al-Tamimi, confirmed that there are political and technical objections to the budget law that will hinder the legislation of the law in the House of Representatives.
Al-Tamimi told Shafaq News agency, "The budget law before the parliament, which was read for a second reading, faces a political disagreement over wealth distribution shares," explaining that "the government seeks to increase the shares and allocations of ministries at the expense of the shares and allocations of governorates."
And he indicated that "the Sunni political parties are seeking to increase the allocations of the provinces (development of the regions) and the shares of (the liberated provinces reconstruction fund).
He added, "Some Shiite parties, within the coordination framework, are afraid to approve a budget for three years, fearing that the current Prime Minister, Muhammad Shia al-Sudani, will sign an open exchange instrument for three years, which al-Sudani will benefit from to enhance his political position and influence during the coming years at the expense of other Shiite parties."
The researcher in economic and political affairs concluded that "there are technical parliamentary objections, related to the size of the operating budget estimated at 150 trillion, while it could be around 105 trillion only at the highest estimate, and all of these objections will be a major reason for obstructing the passage of the budget during the coming period."
The Iraqi Council of Representatives completed the first and second readings of the draft federal budget law for the Republic of Iraq, which was submitted by the government of Muhammad Shia al-Sudani for the fiscal years (2023, 2024, 2025). LINK
Iraqi News Highlights Tuesday Afternoon 4-18-23
Iraqi News Highlights Tuesday Afternoon 4-18-23
Tlm724 Administrator Bondlady’s Corner
The Stability Of The Dollar Exchange Rate For Today In The Local Markets
Economy Tuesday, 18 April 2023 Baghdad / National News Center Today, Tuesday, the National News Center publishes the exchange rates of the dollar against the dinar throughout Iraq.
Iraqi News Highlights Tuesday Afternoon 4-18-23
Tlm724 Administrator Bondlady’s Corner
The Stability Of The Dollar Exchange Rate For Today In The Local Markets
Economy Tuesday, 18 April 2023 Baghdad / National News Center Today, Tuesday, the National News Center publishes the exchange rates of the dollar against the dinar throughout Iraq.
In Baghdad: the purchase price of the dollar is 145,000 per 100 dollars, the purchase price of the dollar is 143,000 per 100 dollars
In the north: the purchase price of the dollar is 145,000 per 100 dollars, the purchase price of the dollar is 143,000 per 100 dollars
In the south: the purchase price of the dollar is 145,000 per 100 dollars, the purchase price of the dollar is 143,000 per 100 dollars https://nnciraq.com/200517/
The Central Bank Sells More Than 283 Million Dollars In The Currency Auction
Economy Tuesday, April 18, 2023 1:07 PM Baghdad / National News Center
The results of the foreign currency sale window of the Central Bank of Iraq showed, today, Tuesday, that the total total sales of the auction window exceeded $283 million. https://nnciraq.com/200555/
Al-Sudani Discusses Efforts To Reform The Iraqi Economy With The US Secretary Of State
Money and business Economy News / Baghdad Today, Tuesday, Prime Minister Muhammad Shia Al-Sudani affirmed Iraq's firm stances regarding security and economic challenges, regionally and internationally.
Al-Sudani's office said in a statement that the latter "received a phone call from US Secretary of State Anthony Blinken, and they discussed bilateral relations between Iraq and the United States, and ways to enhance them at various levels and fields."
He added, "During the call, they discussed the Iraqi government's efforts in the field of economic reform and diversification of development sources, in addition to the performance of the Iraqi security forces in pursuing terrorist remnants, and the role of the American side in providing assistance in the field of military advice and training."
During the call, the Prime Minister affirmed, according to the statement: "Iraq's firm positions on security and economic issues and challenges, at the regional and international levels, and strengthening efforts for calm and strengthening the policy of dialogue to resolve differences."
Views 3 Added 04/18/2023 - https://economy-news.net/content.php?id=33659
America renews its support for the stability of Iraq Political | 12:56 - 04/18/2023 Baghdad - Mawazine News, President of the Republic Abdul Latif Jamal Rashid stressed, on Tuesday, the importance of expanding horizons of cooperation with America to confront economic conditions and environmental changes.
A statement by the Presidency of the Republic stated, "The President of the Republic, Abdul Latif Jamal Rashid, received today, at the Baghdad Palace, the US Ambassador to Iraq, Alina Romanowski."
Rashid explained, during the meeting, "the friendly relations between the two countries in a way that serves common interests and helps ease tensions in the region through dialogue," expressing his appreciation for "the continued support of Iraq by the United States in various fields."
He stressed "the importance of expanding horizons of joint cooperation to face economic conditions and environmental and climatic changes, of which Iraq is the country most affected."
For her part, the US ambassador renewed "her country's support for the stability of Iraq," stressing "the continuation of providing the necessary assistance to the Iraqis within the framework of the strategic framework agreement between the two countries." https://www.mawazin.net/Details.aspx?jimare=224884
POS Devices
April 12, 2023 Based on the directions and strategy of this bank to increase the number of points of sale (POS) and reduce dependence on cash in financial transactions
The following was decided.. To view, click here https://cbi.iq/static/uploads/up/file-168180933493275.pdf
The Banking Control Department
Department of Electronic Payment / Division of Instructions and Execution 2200
Number: |5 | NO: oN A/S Cancel: polished / 8 >: Date To / all authorized banks
Electronic payment service providers / collectors
M / devices 05 pm
Later, with our circular numbered 9/10/7 in 1/15077/8.” And based on the directions and strategy of this bank to increase the number of
Points of Sale (505) and reduce reliance on cash in financial transactions, the following is decided:
1. Reducing the merchant’s commission 8408 to be 1/ fixed instead of “7”, which was previously determined according to our numbered announcements
In the numbers 5.09/55 5929/0007 in 92/7061 1/115013/3911. And it is in favor of the collecting party (the party collection) for a period of two years starting from the date of 1/07/117, and the new commission will be reviewed after the expiry of the mentioned period
Or according to the need and requirements of the market and competition in the quality of the service provided and the support provided to the merchant.
1. Financial transactions (settlements) with merchants (points of sale devices) are carried out according to the following:
A- Opening bank accounts in the Iraqi dinar currency for merchants for the purpose of (receiving the sums of movements through POS devices '7505').
B- Issuing a prepaid card in the Iraqi dinar currency, with a ceiling of (51 million dinars), provided that the total number of its transactions does not exceed
Monthly (0 "million dinars) and the amounts available in it are due to sales of products, goods or services
"Exclusively" and is intended for the merchant or for individuals of a commercial nature, for example, but not limited to (kiosks, shops
; Street vendors » Owners of taxis working for their own account 0 Owners of professions and workshops, bakeries bakeries...etc).
Your creation of a support service dedicated to merchants who own the point of sale device (005) and with free phone numbers to view
Helping and supporting them directly and continuously 51/7 and analyzing the performance of merchants continuously and motivating them to use them on their own
Loyalty points or rewards, to name a few.
The need to adapt the conditions of your banks / companies, Lady, to the above, with appreciation.
Faisal Al-Haimus. = Acting Deputy Governor https://cbi.iq/news/view/2310
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