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6ly410

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  1. Al-Ghadban: Iraq supports the call for an urgent meeting of OPEC http://economy-news.net/content.php?id=19574 Economy News _ Baghdad On Thursday, the Minister of Oil, Thamer Al-Ghadban, confirmed that Iraq supports the call for an urgent meeting of OPEC oil producers and the producers allied to them from outside, and its support for all calls that come in this framework. A spokesman for the Ministry of Oil, Assem Jihad, said in a statement, "Economy News" received a copy of it. "The Deputy Prime Minister for Energy and Oil Minister Thamer Abbas Al-Ghadban sent a message to the Secretary-General of the Organization of Petroleum Exporting Countries, Mohamed Barkindo, in which he affirmed support Iraq to hold an urgent meeting of the Organization of Petroleum Exporting Countries (OPEC +) in order to study the repercussions of the oil market, and to take quick measures to restore stability to the oil market and restore the balance between supply and demand. " Jihad added, "The anger had had many contacts with the ministers of OPEC member states and allied with them from outside, and with the organization's secretary and the president of the current session, calling in it the necessity of the return of the member ministers to the dialogue table in order to work to stop the repercussions of the collapse of oil markets, and accelerate By agreeing on a formula that contributes to the stability of the oil market and rebalancing. " He pointed out that "the oil minister expressed his confidence in the possibility of agreeing during the next meeting, on a formula that contributes to achieving positive results that are in everyone's interest and gradually restore stability to the global market." Saudi Arabia had called for an urgent meeting of OPEC + and a group of other countries in an effort to reach a fair agreement that would restore the desired balance to the oil markets. Number of views 18 Posted on 02/04/2020
  2. The Ministry of Finance thanks the Central Bank and private banks for their support in fighting Corona Ministry of Finance logo «Economy News» http://economy-news.net/content.php?id=19575 Economy News - Baghdad: Today, Thursday, the Ministry of Finance thanked the Central Bank of Iraq, private and government banks and private sector companies who participated in supporting the solidarity campaign to combat the Corona virus in Iraq. The central bank and private and government banks donated more than 43 billion dinars to purchase medical devices used to detect corona virus in the laboratories of the Ministry of Health. The Ministry of Finance said in a press statement received by "Al-Iqtisad News", "The Ministry of Finance appreciates the position of the Central Bank of Iraq, the Iraqi Bank for Trade, the Rafidain and Rashid banks, and all private banks and companies from the private sector and citizens at home and abroad who participated and contributed to this solidarity campaign, and expresses many Thanks to the workers in accomplishing this national work. " It added that "it took, under the direct supervision of the Deputy Prime Minister and Minister of Finance Fuad Hussein, a set of measures that would contribute to providing the financial and logistical requirements necessary to stand as far as possible against the spread of Corona virus and combat it in Iraq." And continued, "In agreement with the Central Bank of Iraq, the Rafidain and Al-Rashid banks were instructed to open a current account in the Iraqi dinar (deposit and withdrawal) for combating Corona virus for all directorates and departments of the Ministry of Health." "And the formation of the accounting unit regarding the granting of aid has been approved by the Central Bank and both the Rafidain and Rashid banks and the commercial bank and under the supervision of the Ministry of Finance, billions of dinars and millions of dollars have been collected for this account and in a short record time, and sums have been added to it from governmental and private commercial banks And the private sector in support of the efforts of the departments of the Ministry of Health. " It indicated that "by order of the Ministry of Finance, a disbursement committee has been formed under the supervision of the Diwaniya Commission (55) to combat the spread of Corona virus and these funds that have arrived, covering the work of the Ministry of Health in the field of fighting the virus during the next stage. In another area, pharmaceutical contracts were funded in the amount of 46 billion and 817 One million Iraqi dinars until the fifteenth of March in addition to the amount of 332 million dinars as operating expenses for all health departments in Baghdad and the provinces. " "The Deputy Prime Minister and Minister of Finance also sent a letter to the Ministry of Health, Chairman of the Diwaniya Commission 55, to allocate one of the properties of the Ministry of Finance to the State Real Estate Department as an alternative site at the Ministry of Health's disposal for its use of quarantine." Number of views 31 Added Date 02/04/2020
  3. An authorized source at the Central Bank of Iraq stated about what some of the officials are talking about to some officials about the possibility of printing an Iraqi currency to avoid economic problems and so on ... with the following: 1- The printing of Iraqi banknotes is a routine, technical procedure practiced by the central bank in accordance with the requirements of cash circulation, and printing of banknotes is a completely separate process from the cash issuance process. 2- No party can withdraw banknotes from the central bank unless there are funds in their accounts that cover the amount to be withdrawn. Therefore, the saying of the dinar does not mean any meaning other than strengthening the treasuries of the Central Bank in accordance with the monetary management policy, and it has no meaning or other purpose .. The Central Bank Law and Monetary Policy do not allow the issuance of cash in favor of an account without balance. 3- When the Ministry of Finance wishes to finance spending on the various spending units and salaries, it requests the Central Bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars. No amount is deposited into the finance account in dinars unless offset by a withdrawal from its dollar account. 4- The Central Bank Law does not allow him to lend to the government, whether by printing the currency or any other method, direct or indirect, and he is entitled to deduct the treasury transfers, if they are in the secondary trading market, as it is one of the tools of monetary policy, if he deems it based on Accurate, objective data serving monetary policy objectives. #The Iraqi Central Bank # Stay home #Awareness campaign Banking awareness and public protection
  4. Statement // An authorized source at the Central Bank stated the following: - The Central Bank denies rumors that its governor, Ali Mohsen Ismail, has been infected with the Corona virus, and confirms his personal safety, his concern and his commitment to all preventive measures and instructions of the relevant authorities. And while he wishes safety for all Iraqis, the Central Bank urges the media to be accurate during the news circulation, and to receive it from its sources, in order to ensure credibility in front of public opinion. #The Iraqi Central Bank # Stay home #Awareness campaign Banking awareness and public protection # Islamic_Advisor_Bank #MIB
  5. Iraqi Trade Bank: postponing the payment of loan installments granted to the beneficiaries of the Basmaya and Al-Darasah project for two months http://economy-news.net/content.php?id=19541 Economy News _ Baghdad The Trade Bank of Iraq announced, on Wednesday, that it will postpone the payment of loan installments granted to the beneficiaries of the Basmaya and Study project for a period of two months. The bank said in a statement, "Economy News" received a copy of it, that it "decided to postpone the payment of loan installments granted to the national and non-national employees with their salaries with the bank." The bank added that "the postponement also included the beneficiaries of a project with the protection of housing and a study loan without interest for a period of two months, starting from 1/4/2020 until 31/5/2020." Number of views 72 Date added 04/01/2020
  6. Central Bank: Trade and import financing will resume after the embargo is lifted The Central Bank of Iraq Banks The Economy News - Baghdad The Central Bank of Iraq announced today, Wednesday, that financing trade and imports will resume after the embargo is completely lifted. The Central Bank said in a press statement received by "Al-Iqtisad News", "the efforts of the various institutions in our country to combat the Corona epidemic and get out peacefully from this crisis come together , so we invite banks, exchange companies and electronic payment companies to take their responsible role at this stage. " He added that "although the curfew has affected the activities and actions of all official institutions, including the Central Bank of Iraq, we have taken the initiative to employ our cadres in order to sustain the payment of salaries and finance of food, agricultural, medical and all necessary materials . " And that "in this regard, the Central Bank of Iraq confirms the absence of any change in its policy in financing trade and imports, which will resume after the lifting of the ban completely . " He continued, "As for the current stage, the bank will start enhancing the bank balances abroad through the window of selling foreign currency according to a schedule of working days and according to the requirements of the situation and this will be reported first-hand, for the purposes of financing the credits of importing foodstuffs, agricultural supplies, medical materials and goods necessary for the country and citizens . Views: 51 Date added 04/01/2020 http://economy-news.net/content.php?id=19554
  7. The Central denied the infection of the governor of the emerging virus Corona The Central Bank of Iraq http://economy-news.net/content.php?id=19514 Banks The Economy News - Baghdad The Central Bank of Iraq denied, on Monday, the infection of the governor of Ali Al-Alaq with the new Corona virus. An authorized source in the bank said in a statement received by "Al-Iqtisad News", that "the central bank denies the rumors that its governor, Ali Mohsen Ismail, has been infected with the Corona virus, and confirms his personal safety, concern, and commitment to all preventive measures and instructions of the concerned authorities." "And while he wishes safety for all Iraqis, the central bank urges the media to be accurate during the circulation of news, and to receive it from its sources, in order to ensure credibility in front of public opinion," the statement added. Number of views 45 Date added 3/30/2020
  8. Iraqi Trade Bank raises its capital to 3 billion dollars The Iraqi Trade Bank logo, «Economy News» http://economy-news.net/content.php?id=19520 Banks The Economy News - Baghdad The Iraqi Trade Bank (TBI) announced today, Monday, the increase of its capital to 3 billion dollars. The bank said in a press statement received by "The Economy News", the Iraqi Trade Bank increased its capital from 2.3 billion dollars (2.7 trillion Iraqi dinars) to 3 billion dollars (3.5 trillion Iraqi dinars) in light of its business results for the year 2019 after its audit by the International Audit Company Ernst & Young (E&Y) and based on the approval of the Prime Minister of Iraq. He added that he achieved great growth in his revenues for the financial year ending 31/12/2019, reaching 708 million dollars (837 billion Iraqi dinars), an increase of 12% over the previous year and a net profit of 556 million dollars (657 billion Iraqi dinars), an increase of 68% from last year. Number of views 62 Posted on 3/30/2020
  9. Benefits of # localization of salaries: 1. Emiratization will reduce the risk of transferring the employee's money in cash. 2. Each employee who settles his salary will be granted a special salary card through which he can withdraw his salary from the various points of sale (ATMs / POS / Internet / ...) locally and globally. 3. The employee has complete freedom to withdraw, deposit and transfer money as desired, at any time. 4. The employee's salary may be exempted from the employee's periodic monthly commissions such as (low balance commission / account management). 5. A symbolic amount is collected from the employee for some financial services such as transfer service and salary card (this will be subject to agreement with the salary authority). 6. The employee may be permitted to use the salary card for cash withdrawals or purchases. 7. The employee may enjoy free online banking services without interest. 8. Salary localization will provide the employee with a package of banking products and services and loan facilities. 9. It helps the employee to save automatically and withdraw his need only .. 'Benefits of localizing salaries: 1. Emiratization will reduce the risk of transferring employee money in cash. 2. Each employee who settles his salary will be granted a special salary card through which he can withdraw his salary from the various points of sale (ATMs / POS / Internet / ...) locally and globally. 3. The employee has complete freedom to withdraw, deposit and transfer money as desired, at any time. 4. The employee's salary may be exempted from the employee's periodic monthly commissions such as (low balance commission / account management). 5. A symbolic amount is collected from the employee for some financial services such as transfer service and salary card (this will be subject to agreement with the salary authority). 6. The employee may be permitted to use the salary card for cash withdrawals or purchases. 7. The employee may enjoy free online banking services without interest. 8. Salary localization will provide the employee with a package of banking products and services and loan facilities. 9. The employee helps to save automatically and withdraw his need only.
  10. Al-Nassiri calls on the government to take decisive decisions and immediate remedies for the economic crisis The economic and banking advisor, Samir Al-Nassery http://economy-news.net/content.php?id=19498 money and business The Economy News - Baghdad On Sunday, the economist and banking expert, Samir al-Nusiri, called on the Prime Minister to the resigned government to entrust the Ministerial Council of Economy and economic experts in the government, universities and the private sector to participate in expressing his views and making observations to study and analyze the economic reality in the current circumstance and take decisive and bold decisions and immediate treatments to overcome our current economic crisis. Al-Nusairi said in an interview with "Al-Iqtisad News" that "in light of the global economic crisis and the Corona epidemic and the indicators that predict the arrival of oil prices to the price of its production and marketing cost and the slowdown in growth in the global economy to less than 1% and the possibility that the world will pass through the effects of the Great Depression in the second half of The year 2020 requires the resigned government and the new government, after its formation, to adopt a unified approach aimed at immediate remedies. " He added that one of the measures that the government should follow is to prepare an emergency budget based on the expected revenues from the marketed oil for the year 2020 at the minimum price expectations and reduce government expenditures for the three presidencies and the House of Representatives and independent bodies and special grades and pensions for those who previously worked in these sites since 2003 and insurance for the salaries of employees, retirees and social welfare. He continued that the sums must be secured in the face of the Corona epidemic to the Ministry of Health and the sums allocated to the reform decisions committed by the resigned government to implement the demands of the demonstrators as well as coordination between the fiscal and monetary policies to maintain the stability of the exchange rate and maintain the standard adequacy of the foreign monetary reserves of the Central Bank and stimulate and encourage the private sector and its involvement in Management of the economic process. He continued that "the import of semi-essential and luxury items must be stopped and the import should be restricted to food ration card materials, medicine and medical supplies, while increasing the food basket for the Iraqi family. Al-Nusairi stressed the necessity that “the economic decisions of the Ministerial Council of Economy be able to activate the real productive sectors and that industrial policy, agricultural policy and trade policy operate in a centralized, coordinated and coordinated approach with coordination of fiscal and monetary policies and that the central goal (economics is in the service of the people) and that activation and restructuring be done Governmental factories and the contribution of the private sector in managing and stimulating the Iraqi immigrant capital by restoring confidence in the government and returning to investment in Iraq, and that the agricultural land should be for those who grow it, and that the Supreme Economic Council should be formed equally between A government in the private sector and to form a central follow-up body with the participation of the private sector and that our central slogan (centralization of implementation and decentralization of implementation) and that our economic approach be as is the Chinese approach (socialist market economy) which will be the pole that will lead the world after Corona. And we have our own experience in Managing the economic approach in case of an emergency. Number of views 36 Date added 29/03/2020
  11. Central: printing currency is a “routine procedure” and differs from monetary issuance The Central Bank of Iraq http://economy-news.net/content.php?id=19493 Banks The Economy News - Baghdad The Central Bank of Iraq issued, on Sunday, a clarification regarding what is being circulated by news about the possibility of printing an Iraqi currency to "avoid" the economic problems that face the outbreak of the "Corona" virus. The central bank said in a statement received by "Economy News", "The printing of Iraqi banknotes is a routine technical procedure practiced by the central bank in accordance with the requirements of cash circulation, and that the printing of banknotes is completely separate from the process of issuing cash." The statement added, "No party can withdraw banknotes from the central bank unless there are funds in their accounts that cover the amount to be withdrawn. Therefore, the central bank law and monetary policy do not allow the issuance of cash in favor of an account without balance." He pointed out that "when the Ministry of Finance wishes to finance spending on the various spending units and salaries, it requests the central bank to strengthen its account in Iraqi dinars in exchange for withdrawing from its account in dollars .. No amount is deposited into the finance account in dinars unless there is a corresponding withdrawal from its dollar account." He continued, "The Central Bank Law does not allow him to lend to the government, whether by printing currency or any other way, direct or indirect, and he is entitled to deduct treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, if he deems it based On accurate objective data serving the objectives of monetary policy. " Number of views 60 Date added: 03/29/2020
  12. To Decision Makers: How do we face the economy and epidemic Corona? Articles Samir Al-Nassery http://economy-news.net/content.php?id=19433 Indicators, analyzes and forecasts indicate that the country is going through a catastrophic and dangerous political, economic and epidemiological juncture and requires immediate solutions and remedies. In light of this reality, which cannot be quickly and easily overcome with the high costs of facing the Corona epidemic, which will not allow God to turn into a humanitarian catastrophe in front of the weak health system in Iraq and the lack of public commitment to the instructions and the curfew decided by the crisis cell, added to this is the lack of a full-fledged government and structural imbalance in the approach The economy and the failure of all previous governments to not be able to stimulate and activate other economic sectors such as agriculture, industry and tourism to contribute the required amount to enhance non-oil revenues, therefore I see the implications and challenges that the Arab economy will face It was during this year that it will be large and requires finding remedies and solutions to mitigate its future effects. It can be determined as follows: - 1- The continuation and exacerbation of the sharp decline in world oil prices, which decreased by more than 60% compared to prices a year ago, although Iraq and some OPEC countries will try to reduce daily production rates in order to maintain rates ranging between (3540) dollars per barrel, but that Uncertain and the oversupply will remain within the scope of expectations only, which will force the government to put pressure on spending significantly to large rates and ratios, as the budget deficit rates will rise. 2- The drop in oil prices will stop the government's plans in the policy of reconstruction and investment, and the budget will be a payroll budget only and a budget to tackle the Corona epidemic. 3- Since Iraq is one of the countries that imports most food, intermediate and consumer food, the state of stagnation and economic recession will be reflected in the presence of difficulties in supplying it easily to the Iraqi market and in particular the ration card materials, which creates psychological, economic and pension problems for citizens. 4- Unemployment rates for manpower able to work will rise, and rates of inflation and poverty will rise if economic policies and ways to address them are not found from the above expectations. It is noted that Iraq faces numerous and suffocating economic problems if the current treatments and economic reforms are not radical and effective. Therefore, the following precautionary and proactive measures are required: First مواجهة Facing the Corona epidemic and securing financial allocations to control the epidemic and stopping its spread in the country requires developing the initiative of the central bank and banks by making a donation to confront the Corona epidemic as it is a humanitarian initiative that emphasizes the societal goal of the banking sector and is a step that needs to be strengthened and transformed into a national project to finance the requirements of the epidemic (by establishing the National Fund Emergencies) by motivating and encouraging all sectors of the private sector, investors, companies, businessmen and the affluent And that it be maintained according to a system and instructions similar to the Tamkeen Fund supervised by the Central Bank or the Ministry of Finance and managed by a joint board of directors and subject to the supervision of the Financial Supervision Bureau. The National Emergency Fund in addition to donations will be allocations from the government Deduction represents 50% of the salaries, allowances and social benefits of the three presidencies The House of Representatives and special grades in the ministries and independent bodies for the months of March and April 2020 are deposited in open bank accounts in the central bank in dinars, dollars, and euros. This requires the government to start issuing instructions to exempt and postpone government premiums for the private sector, such as taxes and various fees for the year 2020. And that the central bank motivate banks and encourage them to donate by stopping and delaying the imposition of fines imposed on them at the present time for the period it deems appropriate this year. With note that the work of the National Emergency Fund will continue after overcoming the Corona epidemic crisis, with a fixed allocation in the public budget to deal with epidemics, disasters and emergency situations. Second - The Ministry of Trade distributed two rations for the months of March and April in advance. Thirdly, it is left to the Central Bank to continue the applications of its approved monetary policy in accordance with its strategy (2020-2020) and its plan for its strategic banking projects until the year 2023 and not to interfere with its independence and establish its leadership and technical cadres that have proven successful during the economic and security shocks after 2014 until the present. Fourth - Benefiting from the excellent position and monetary indicators of the Central Bank, which are its foreign cash reserves, safe investments, exchange rate stability, price preservation, and stable inflation in dealing with the expected crisis. Fifthly: Failure to interfere with the bank’s work and influence the exchange rate, as the interference will undermine confidence in the Iraqi economy. VI- Reconsidering the structure of the 2020 budget and adjusting it to the (emergency) budget and focusing on; * Adoption of the price of oil in light of expectations for the next three quarters of the year 2020 and between (2030) dollars / barrel. * Continued coverage of the salaries of employees, retirees, and social welfare * Covering the allocations for the implementation of the reform decisions amounting to (10) trillion dinars that the resigned government committed to achieve the demands of the demonstrators .. * Reducing government spending by conducting a surgical operation targeting beneficiaries, space, fictitious projects, allocations and huge social benefits for the three presidencies, the House of Representatives, and ministries, and that the reduction rate not be less than 50% in the emergency budget. This includes the pensions of the above entities that had previously assumed responsibility since 2003. * The Central Bank continues to implement its initiatives to finance small and medium projects and projects of more than one billion dinars, which it recently launched. * Covering immediate and special allocations to counter the Corona virus to the Ministry of Health and Environment. * Supporting and involving the private sector in making special economic decisions
  13. The Central Bank of Iraq announces the collection of its value (44 billion Iraqi dinars) to support the state's efforts to combat the Corona epidemic.https://cbi.iq/news/view/1469 The framework of efforts to ward off the imminent danger that the outbreak of the Corona virus can cause to the health of our honorable citizens, and to support the preventive preparations made by the Ministry of Health and the crisis cell. The Central Bank of Iraq announces the collection of its value (44 billion Iraqi dinars) until Tuesday, 3/24/2020, mainly employed, for the purposes of filling the shortage of respiratory devices (respiratory recovery), a deficiency that causes high mortality rates, as well as for the purposes of prevention measures The epidemic is spreading. The Governor of the Central Bank and its Board of Directors take this opportunity to extend my sincere thanks to the Iraqi banking system and all the bodies that responded to the appeal and contributed by making a donation to the fund called by the Iraqi Ministry of Finance to confront this serious epidemic. Also attached is a list of the entities that participated in supporting the fund up to the date above. To view the entities that contribute to the support of the donation fund until March 24, 2020 click here The Central Bank of Iraq 3/24/2020https://cbi.iq/static/uploads/up/file-158506342023282.pdf
  14. 03/23/2020 10:30 Views 69 Section: Iraq Parliamentary Finance: The global crisis, low oil prices are temporary, and employee salaries are insured for a full year https://almasalah.com/ar/news/189808 Baghdad / Obelisk: Member of Parliamentary Finance Committee, Ahmed Al-Saffar, said on Monday, 23 March 2020, that the global crisis represented by low oil prices is temporary, confirming that the salaries of employees are insured for a full year because there is a financial surplus capable of securing them. Al-Saffar said in a statement pursued by the "obelisk", that the global crisis represented by low oil prices is temporary and may not last more than a month or two at the most, noting that its causes are known and it is an outbreak of the Corona virus, in the world and its impact on large production plants in Japan and China. And Europe, which led to lower oil demand, and producers entering a price war and flooding the market with crude oil, which led to lower prices. He indicated that the oil exporting countries do not bear more losses and could end the crisis during the next month or the next. He continued that keeping oil prices at their current level will not harm Iraq, as it can pay the salaries of its employees for a whole year, from the surpluses of the 2019 budget for investments and many exchange doors in other ministries, in addition to that Iraq is a country that has a cash reserve in the central bank and may be resorted to internal reserves or External, in addition to methods related to monetary policy, open market operations, the interest rate, or the legal reserve of banks. Al-Saffar hinted that Iraq could also resort to external borrowing in the event of an emergency and crisis after it banned it in last year's budget. Follow the obelisk
  15. Dollar bonds .. a tool for financial liquidity Economic researcher Ahmed Hathal http://economy-news.net/content.php?id=19378 Ahmed Al-Hathal * Dollar bonds were used on an international scale, which are somewhat similar to public debt bonds and their repayment is done in dollars, and Egypt launched these bonds in (2018) at a value of (4) billion dollars in international markets for various periods (5-10-30) years, And their interest rates are close to the foreign borrowing interest rates offered by international financial institutions (5% -8%), which is expected to take an upward trend at that time, and economic researchers in Egypt confirmed that these bonds received increasing welcome and demand from investors, if they received Investors came considering that the price of the Egyptian bond is higher than the price of the bond on the US dollar Ki, which is expected to rise in that period, but Egypt was able to offer its bonds before the price of bonds rose on the US dollar and benefited from the timing. In general, the situation in Iraq is completely different, because Iraq has financial sources from the foreign currency represented in dollars for rent, and this is what Egypt does not own, and the Ministry of Finance is the owner of the dollar when selling any barrel of oil that will be transferred into its account, and it has obligations (government purchases) that are deducted in dollars, The rest of it is sold to the central bank in order to pay the finance in dinars, as the sales of the Ministry of Finance to the central bank in (2018) reached about (52) million dollars. The Ministry of Finance can use the part of the dollar oil revenue sources and benefit from local liquidity at the present time in exchange for selling part of the dollar to individuals and institutions instead of selling it to the central bank in the coming year, and the difference between the sale process will be with the term of payment in dollars, which is one year and is similar to the treasury bills from As for the period, and this process does not carry the public finance the burden of public debt and its effects and does not affect prices and inflation at the present time and may lead in the future to raise the value of the dinar, because the money obtained by the finance was previously created by the banking system and is within the framework of the offer of Criticism, and this effect will only structure. So, internal dollar bonds are issued with a value of (20) billion dollars at a sale price (1150 dinars per dollar) for individuals and internal institutions to be paid by the Ministry of Finance in dollars, and the bonds will be a period of (one year), and the reason for this is that the M1 money supply (in its narrow sense) = (77). From it to the public = (40) trillion dinars. And from it deposits in progress = (37) trillion dinars. So we have (40) trillion outside the banking system, and these bonds are offered to citizens and institutions to reduce hoarding, and because of the lack of accurate statistics to determine what is hoarded and circulating with the public, so some economists believe that there is more than (75%) of the money supply In its broad concept (M2), which amounts to (92) trillion is outside the banking system, and therefore suppose that the currency of the public in the concept of money supply (M1) is divided into two parts: The first part: compactness = (20) trillion. The second part: circulation = (20) trillion. The focus is on the first hoarded part, the Ministry of Finance offers various bonds that start with a value of (50) million (dollar bond) and are done through government banks, and the dollar is paid after (one year) at a price lower than the parallel exchange rate (1200) and (1150) Dinars for every dollar. Now suppose that one of the individuals has (50) million dinars (chunky), and one of the governmental banks offered him the dollar bond offer by (115000) thousand dinars for each ($ 100), and suppose that this individual accepted this offer and will buy the bond at its present value after (one year) ((Against his total amount paid to the bank 50 million) = (43,478) thousand dollars. This amount will be obtained after (a year) in dollars at a price (1150) by one of the banks of the Ministry of Finance for (50) million dinars in which he previously bought the dollar bond. What is the budget benefit and bond buyer? The benefit will be as follows: 1- Fast financing for the budget deficit (after spending pressure), at a value of (20) trillion dinars through dollar bonds to be paid by the Ministry of Finance at a preferential price (1150). 2- We will exceed the international conditions and its political paper for the performance of the external debt and the resulting burden. 3- The process of transferring money from compactness will not affect the money supply until after a year, and it will be positive on the value of the national currency, by raising its value because there is a dollar offer greater than the demand. 4- The Ministry of Finance will lose some dinars for every dollar paid after a year, and individuals will pay at the price of (1150). Assuming that it was selling the dollar to the central at a price of (1170), the burden will be on the Ministry of Finance (20) dinars per one dollar, which is a very small amount that the finance will pay. the public. 5- The individual will gain the preferential dollar price through the difference between the purchase price and the selling price. For example, in our previous example, one of the individuals bought (43,478 $) thousand dollars for (50) million dinars, and suppose that the parallel price of the dollar after a year is (1200) dinars for each Dollars, this individual will win what is worth (2,150,000) (two million and one hundred and fifty thousand dinars), which is like an interest rate of approximately (4%) from the point of view of the dollar buyer, and is close to the price of monetary policy. 6- The effect of this process will be on the central bank, by reducing dollar sales to it by the Ministry of Finance in the coming year, which is due for holders of dollar bonds, but today we are experiencing a real crisis that cannot be directed towards external debt, but rather requires that we search for tools that achieve efficiency At the lowest costs, the central bank can boost the reserves through its financial and monetary investment operations at home and abroad, which amount to more than 85% of this reserve. *Economic Researcher Number of views 127 Add Date 03/21/2020
  16. The Governor of the Central Bank issues a directive to banks regarding the deferral of claims for installments of loans and advances http://economy-news.net/content.php?id=19391 Economy News _ Baghdad On Sunday, the Governor of the Central Bank, Ali Al-Alaq, issued a directive to banks regarding the postponement of claims for loan and advances installments against the background of the conditions in which the country is passing and the suspension of most income-generating activities. The media office of the bank said in a statement, "Economy News" received a copy of it, "The Governor of the Central Bank of Iraq sent a message to the banks regarding the conditions in the country and stopped most of the income-generating activities, which weakened the ability of dealers with banks with loans or advances to fulfill their obligations within a period of time." Restriction of the movement brought up by the efforts to tackle the Corona epidemic. " Al-Alaq called, according to the statement, the bank departments to "take important steps in postponing the claim for loan and advances installments alike, which the central bank has taken to postpone the claim for loan installments related to its initiatives in financing small and medium projects." He hinted that "the social function of banks calls for such a modest step in comparison to the active aspirations of society from the banking system." It is noteworthy that the Central Bank of Iraq decided, yesterday, Saturday, to postpone the payment of premiums from beneficiaries of its own initiatives. Number of views 18 Date added 22/03/2020
  17. 03/21/2020 13:44 Views 138 Section: Iraq Trump stresses in favor of the need to build security and economic relations with Iraq http://almasalah.com/ar/news/189734 Baghdad / Obelisk: US President Donald Trump stressed on Saturday that Iraq and America have made progress in combating ISIS terrorist gangs, while stressing the need to build security and economic ties with Iraq. The office of the President of the Republic, Barham Salih, said in a statement received to the "obelisk", that the President of the Republic, Barham Salih, received a congratulatory message from the President of the United States of America Donald Trump on the occasion of Nowruz holidays. In his telegram, the American President expressed his congratulations on the occasion of Nowruz holidays, wishing the Iraqi people stability and peace. He stressed that the two countries have made progress in combating the terrorist gangs of ISIS, pointing to his country's desire to build security and economic relations with Iraq in a manner that enhances cooperation and serves the common interests of the two countries. Below is the text of the telegram: "Dear President, on behalf of the American people, I wish you and the people of Iraq a happy Newroz, a special day for peace and a renaissance for all. This year, Eid is gaining more importance, as our two countries work to bring peace and stability to Iraq. We have made great progress in facing ISIS. And I look forward to new opportunities to build our economic and security relations with your government. Sincerely Obelisk
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