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6ly410

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  1. The Governor of the Central Bank and the World Bank discuss the continuation of bilateral cooperation محافظ البنك المركزي والبنك الدولي يبحثان استمرار التعاون الثنائي (ninanews-com.translate.goog) Wednesday 05 October 2022 14:04 | EconomicNumber of readings: 197 Baghdad / NINA / - The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, received today, Wednesday, a delegation from the World Bank headed by the Regional Director of the Middle East Department, Jean-Christophe Cary. During the meeting, they discussed the continuation of bilateral cooperation, enhancing financial inclusion and various projects to reform the banking sector, especially government banks. In this meeting, the governor reviewed the efforts of the Central Bank of Iraq in combating money laundering and terrorist financing, and the development projects launched by the bank to move the wheel of the Iraqi economy./End 8
  2. Al-Kazemi's advisor clarifies the purpose of issuing a new cash denomination in Iraq Posted 6 seconds ago مستشار الكاظمي يوضح الغاية من اصدار فئة نقدية جديدة في العراق - اخبار العراق (iraqakhbar-com.translate.goog) news source /Baghdad today News source / Baghdad today Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, commented today, Sunday, on the intention to issue a category of 20 thousand dinars by the Central Bank of Iraq. Saleh said, to (Baghdad Today), that “issuing a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country in intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods.” within the economic community. And he indicated that “the issuance of a new category of Iraqi currency by the Central Bank of Iraq, a category of 20 thousand dinars, comes within the framework of improving the policy of the Central Bank in managing the cash payments system, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate payments. cash (not large) within the cash circulation system.” And the Central Bank of Iraq announced, last Tuesday, its intention to issue a new category of Iraqi currency worth 20 thousand, while stressing that there is no intention of the Central Bank to change the exchange rate of the dollar. The Governor of the Central Bank, Mustafa Makheef, said during his speech at the Al-Rafidain Forum, which I followed (Baghdad today): “The central bank has no intention to reduce or change the dollar exchange rate,” stressing that “Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some Negative indicators are working to address them in the coming period.” He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros." He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects, and that the initiatives largely targeted the housing sector, which occupies more than 30% in various sectors.” He explained that "the central bank has a plan and strategy for five years, and it may be delayed because of what it faces in several areas," noting that "the central bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."
  3. The appearance of Muhammad Salih to / Nina /: Issuing a new denomination of currency .. Improving the efficiency of the monetary system The appearance of Muhammad Salih to / Nina /: Issuing a new denomination of currency .. Improving the efficiency of the monetary system (ninanews-com.translate.goog) Sunday 02 October 2022 09:28 | EconomicNumber of readings: 374 Baghdad / NINA / - The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: The issuance of a new category of currency... is an improvement in the efficiency of the monetary system. He told the National Iraqi News Agency ( NINA ) that the issuance of a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country with intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods within the community. Economic. Saleh added: The announcement by the Central Bank of Iraq of the imminent issuance of a category of twenty thousand dinars, comes within the framework of improving its policy in managing the cash payments system in the country, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate cash payments (not large). ) within the country's monetary system. And the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
  4. Abdul Hassan Al-Shammari to / Nina /: Printing a new currency .. Administrative corruption and waste of public money Abdul Hassan Al-Shammari to / Nina /: Printing a new currency .. Administrative corruption and waste of public money (ninanews-com.translate.goog) Sunday 02 October 2022 14:43 | EconomicNumber of readings: 160 Baghdad / NINA / - The economic expert, Abdul Hassan Al-Shammari, considered the intention of the Central Bank of Iraq to print a new currency in the category of 20 thousand dinars .. administrative corruption and waste of public money. He told the National Iraqi News Agency ( NINA ) that printing a new currency is not economically feasible because the existing currencies are completely sufficient. He continued, "The printing will cost hundreds of millions of dollars, and this is a waste of public money." Al-Shammari considered that the purpose of printing is to put the name and signature of the new governor only because the currencies in circulation are in the names and signatures of other governors. And the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
  5. Al-Kazemi's advisor clarifies the purpose of issuing a new cash denomination in Iraq مستشار الكاظمي يوضح الغاية من اصدار فئة نقدية جديدة في العراق - اخبار العراق (iraqakhbar-com.translate.goog) news source /Baghdad today News source / Baghdad today Baghdad today - special Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, commented today, Sunday, on the intention to issue a category of 20 thousand dinars by the Central Bank of Iraq. Saleh said, to (Baghdad Today), that “issuing a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country in intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods.” within the economic community. And he indicated that “the issuance of a new category of Iraqi currency by the Central Bank of Iraq, a category of 20 thousand dinars, comes within the framework of improving the policy of the Central Bank in managing the cash payments system, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate payments. cash (not large) within the cash circulation system.” And the Central Bank of Iraq announced, last Tuesday, its intention to issue a new category of Iraqi currency worth 20 thousand, while stressing that there is no intention of the Central Bank to change the exchange rate of the dollar. The Governor of the Central Bank, Mustafa Makheef, said during his speech at the Al-Rafidain Forum, which I followed (Baghdad today): “The central bank has no intention to reduce or change the dollar exchange rate,” stressing that “Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some Negative indicators are working to address them in the coming period.” He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros." He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects, and that the initiatives largely targeted the housing sector, which occupies more than 30% in various sectors.” He explained that "the central bank has a plan and strategy for five years, and it may be delayed because of what it faces in several areas," noting that "the central bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."
  6. His office reveals details of the meeting of the President of the Republic with the First Deputy Speaker of Parliament Time : 2022/10/01 21:49:02 Read : 559 times His office reveals the details of the meeting of the President of the Republic with the First Deputy Speaker of Parliament - Euphrates News (alforatnews.iq) {Political: Euphrates News} The President of the Republic, Barham Salih, on Saturday, received the First Deputy Speaker of the House of Representatives Mohsen Al-Mandlawi, while the two sides discussed the general situation in the country "At the beginning of the meeting, President Barham Salih congratulated Mohsen al-Mandalawi on his election to the post of First Deputy Speaker of the House of Representatives, expressing his sincere wishes for success and success in his duties," his media office said in a statement received by the Euphrates News Agency. During the meeting, they discussed the general situation in the country and political developments, where the importance of unifying the national rank, the solidarity of all, national understanding, the primacy of the country's supreme interests, meeting the requirements of the current stage of the country and the expected entitlements, and responding to the aspirations of Iraqis to improve its service and living conditions were emphasized.
  7. Saleh and Al-Mandalawi stress the importance of meeting the expected benefits Saleh and Al-Mandalawi stress the importance of meeting the expected benefits (almasalah-com.translate.goog) October 1, 2022 Baghdad / Obelisk: The President of the Republic, Barham Salih, and the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, stressed on Saturday 10/01/2022 the importance of meeting the requirements of the stage and the expected benefits. The presidency said in a statement, that the President of the Republic, Barham Salih, received, today, Saturday, the First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, noting that at the beginning of the meeting, President Salih congratulated Al-Mandalawi on his election to the position of First Deputy Speaker of the House of Representatives. During the meeting, according to the statement, the general situation in the country and political developments was discussed, as the importance of unifying the national ranks, solidarity of all, national understanding and giving priority to the country's higher interests, meeting the requirements of the country's current stage and the expected benefits, and responding to the aspirations of Iraqis to improve its service and living conditions.
  8. A parliamentary committee calls for the enactment of a law that “obliges” Kurdistan to return oil revenues to Baghdad https://economy-news.net/content.php?id=29983 energy Economy News - Baghdad The Oil, Gas and Natural Resources Committee in the House of Representatives confirmed that the regional government did not provide the Ministry of Finance with oil revenues. Member of the Parliamentary Committee, Alaa Al-Haidari, said that "there are a number of problems between the central and regional governments with regard to oil and its revenues that spanned for years and still exist," noting that "the regional government did not provide the Ministry of Finance in the current government with the region's oil revenues, at a time when The latter has a share of the general budget. Al-Haidari added in an interview with the official newspaper, that "it has become necessary to legislate a law obligating the region to return the sums of selling their oil to the federal government," noting that "approximately 18-20 percent of the region's oil is smuggled through international companies, and therefore it must be controlled." Iraqi oil in general and protecting it from smuggling and theft. Al-Haidari continued, "Although the region's authorities are subject to the Iraqi constitution and courts, the region rejected the decisions of the Federal Court, regretting that the federal government did not take its correct and constitutional role toward the regional government's rebellion in this regard, which led to the suspension and exacerbation of problems." He touched on "the necessity of dealing in accordance with the law with all provinces without exception," noting that "Basra governorate exports daily 3 million and 800 thousand barrels of oil per day through the southern outlets, and therefore the region's share cannot be taken from Basra oil revenues, and often the share of the province is lower than the rest of the provinces. 74 . views Added 10/01/2022 - 6:43 PM Update 02/10/2022 - 3:23 PM
  9. Economist for / Nina /: Printing a new currency has its advantages and disadvantages خبير اقتصادي لـ / نينا / : طبع عملة جديدة له ايجابيات وسلبيات (ninanews-com.translate.goog) Saturday 01 October 2022 19:16 | EconomicNumber of readings: 126 Baghdad / NINA / - The economic expert, Jalil Al-Lami, confirmed that printing a new currency has its advantages and disadvantages. He told the National Iraqi News Agency ( NINA ) that the Central Bank of Iraq's resort to thinking of printing a new currency of (20) thousand dinars aims to suppor t commercial markets in the local currency and to activate these markets and increase the purchasing power of the citizen and apply the experience of neighboring countries with the diversity of monetary categories used by them. Al-Lami added that on the other hand, this step has many disadvantages, foremost of which is a rise in inflation rates, a rise in the prices of goods and services, and a decline in the value of the dinar against foreign currencies. And the Governor of the Central Bank, Ghaleb Mukhaif, said in a previous statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
  10. Iraq’s forex reserves hit record high as oil prices soar Iraq’s forex reserves hit record high as oil prices soar Iraq's economy heavily relies on crude oil exports, which account for more than 90 per cent of the country's revenues. Indo-Asian News Service| Posted by P N Sree Harsha | Published: 30th September 2022 1:51 pm IST Iraq's forex reserves hit record high as oil prices soar (siasat.com) Photo: AP Baghdad: Iraq’s foreign exchange reserves have surpassed $87 billion, the highest level the central bank has seen since its establishment in 1947, local media reported. “The financial reserves (of foreign currency) in the Iraqi Central Bank (ICB) reached the highest level and are expected to exceed $100 billion in the future,” Xinhua news agency quoted Ihsan al-Yaseri, an ICB advisor, as saying to local media. The country’s foreign exchange reserves have increased thanks to the rise in oil prices in the global markets since the outbreak of the Russia-Ukraine war, benefiting Iraq and other oil-exporting countries, according to al-Yaseri. However, he warned that the size of foreign exchange reserves is not an absolute indicator for economic recovery because the most important thing is the financial guidance and the discipline of government expenditure.” “Every uncontrolled government spending indirectly affects and decreases the reserves,” al-Yaseri said. Iraq’s economy heavily relies on crude oil exports, which account for more than 90 per cent of the country’s revenues.
  11. After reaching international forums.. Iraqi TNFX Company Obtains Global License Economic News Agency - After reaching international forums.. Iraqi TNFX Company Obtains Global License (economy-news.net) Economy News-Baghdad The Iraqi company "TNFX" has obtained a global permit from the Seychelles Securities Commission. TNFX has been able to reach international forums during its past years of work inside and outside Iraq, culminating in obtaining this license. The license allows it to deal financially in Iraq and abroad, and it is one of the trusted international companies in dealing financially. 180 Views Added 2022/09/30 - 12:20 PM UPDATED 2022/09/30 - 5:53 PM
  12. Parliamentary Energy: Discussions to amend the Oil and Gas Law and put it in Parliament Time: 09/30/2022 11:25:14 Reading: 1,287 times https://alforatnews.iq/news/الطاقة-النيابية-نقاشات-لتعديل-قانون-النفط-والغاز-وطرحه-في-البرلمان {Economic: Al Furat News} The Parliamentary Oil and Energy Committee announced discussions on the draft oil and gas law. Committee member Durgham al-Maliki told {Euphrates News} that the committee "is facing a political legislative law in its work, which is the oil and gas law." And he indicated that "this law has many consequences, and members of the committee from all sects discuss the law in the hope that it will reach solutions or amendments to the law for the purpose of putting it in the House of Representatives in general." The file of the "oil and gas" law is prominent on the tables of political dialogues related to the formation of the federal government, between Baghdad and Erbil, and the opening of the law file currently coincides with the decision of the Federal Court, in mid-March, which considered the region's oil activities in isolation from Baghdad a legal violation. This led to the freezing of the work of some foreign oil companies in compliance with the decision, such as the American companies "Schlumberger" and "Baker Hughes" for oil field services. The Kurdistan Regional Government considers that Baghdad is exerting pressure on foreign companies operating in the region’s cities, while confirming, in its official statements, that it will defend the region’s financial dues and constitutional rights by all means, and what guarantees its entitlements, including the results of the recent elections, and its shares in the ministries, at a time when The Federal Supreme Court has challenged the unilateral actions of the regional government in the field of extracting and exporting oil from the oil fields there, in isolation from Baghdad. The oil and gas law in Iraq, which has been in parliament since 2005 due to political differences with Kurdish forces, stipulates that the responsibility for managing the country’s oil fields should be entrusted to a national oil company, supervised by a federal council specialized in this matter, meaning that Baghdad is responsible. About oil in Kurdistan, which Erbil rejects, and considers it a measure that violates the constitution. The point of contention between Baghdad and Erbil also lies in the Iraqi constitution, which in recent years has turned into a subject of widespread controversy over its loose articles that are subject to interpretation and interpretation in more than one way. Raghad Daham
  13. Iraqi central bank to issue 20 thousand Dinar banknote 9/27/2022 8:11:30 PM Iraqi currency. photo: kurdsatnews Iraqi Central Bank Governor says he has no intention of changing the dollar's value because the government's revenue has increased by more than 30 trillion dinars due to the depreciation of the country's currency. In an interview during the "Al-Rafidain Forum for Dialogue", Iraqi Central Bank Governor Mustafa Ghalib indicated that "we are working on a new currency, a 20 thousand dinars banknote, after studies in order to keep pace with the requirements and match the neighboring countries, and we will start announcing it after completing their requirements," noting that "there is no intention to reduce or change the dollar exchange rate." He added that since the change in the dollar's value, about 30 trillion and 500 billion dinars had increased government revenue and oil revenue. In the 2021 budget law, the Iraqi parliament voted to set the dinar price at 1,450 dinars per dollar. Now one US dollar is traded for around 1,480 dinars on the market. Concerning the bank's branches, he said, "We have a branch in Basra that covers the southern region, and in Mosul to cover the north, and a branch in Erbil, and we are working to set up a branch in Najaf, but we need a second land to build safes and annexes, and we will start completing the procedures for establishing this branch to cover the middle Euphrates." Regarding the removal of zeros on Iraqi bills, the governor said the removal of zeros on the Iraqi dinar requires legislation.
  14. The Central Bank of Iraq announces the achievement of the largest monetary reserve in its history Posted 44 seconds ago News Source /Iraqi Media News Agency "Wa'a'a" News Source / The Central Bank of Iraq announces the achievement of the largest cash reserve in its history (iraqakhbar-com.translate.goog) Baghdad/PJSC The Central Bank of Iraq announced on Thursday the achievement of the largest monetary reserve in its history with a figure exceeding $87 billion, while stressing that the value of the Iraqi currency is greater than its real value by (130) percent. The adviser to the Central Bank, Ihsan Shamran al-Yasiri, said in an interview quoted by a correspondent (Iraqi Media News Agency), that "the reserves of the Central Bank exceeded $87 billion, which is the largest number reached by the reserves of the Central Bank of Iraq." He pointed out that "the Iraqi currency is very strong because reserves constitute 130 percent of the source of circulation of funds in banks and others, in addition to its function to meet the requirements of traders to import goods." Al-Yasiri explained, “The reserve is not an absolute number for the economy’s recovery, as it previously reached 40 billion, and the economy was recovering, as the lesson is in the financial guidance and financial discipline that the state contributes to.” Al-Yasiri pointed out that “every uncontrolled government spending indirectly affects and decreases the reserve,” expressing his hope that “the reserve will exceed $100 billion.”
  15. CBI announces cash reserves exceeds 87 billion USD Amr Salem September 29, 2022 CBI announces cash reserves exceeds 87 billion USD - Iraqi News 2 min The Central Bank of Iraq. Photo: Iraqi News Agency Baghdad (IraqiNews.com) – The Central Bank of Iraq announced on Thursday that the country’s cash reserves reached a historical level as it exceeded 87 billion USD, according to statements reported by the Iraqi News Agency (INA). The CBI advisor, Ihsan Shamran Al-Yasiri, told INA that the current cash reserves are the highest, and confirmed that the value of the Iraqi currency is higher than its real value by 130 percent. Al-Yasiri indicated that the Iraqi currency is very strong because the cash reserves represent 130 percent of the funds in banks and other financial institutions, in addition to its function to meet the requirements of traders to import goods. Al-Yasiri explained that the cash reserves are not an indicator for economic recovery. He added that the country’s economy was recovered previously while cash reserves were only 40 billion USD. Al-Yasiri elaborated that the financial measures taken by the government are important to contribute to the economic recovery. Al-Yasiri also mentioned that uncontrolled government spending indirectly affects the cash reserve. He expressed his hope that the reserve will exceed 100 billion USD.
  16. IRAQ CENTRAL BANK ISSUES NEW BANKNOTE Iraq Central Bank issues new banknote (nrttv.com) PM:12:43:27/09/2022 SULAIMANI— Iraqi Central Bank to issue a new banknote with a value of 20 thousand Iraqi dinars (IQD), in paper form, the bank said on Tuesday (September 27). According to Iraqi News Agency (INA), the bank's Governor, Mustafa Mukhif , said today that the bank has no plans to change its exchange rate. He said the bank is working on the design for the new banknote, which would be revealed in the coming days. He added that the Central Bank has worked on the 20 thousand IQD denomination based on its research on the neighbouring countries. Regarding the Iraqi dinar exchange rates to the United States dollar, Mukhif revealed that the bank has no intention of lowering the exchange rates. In 2020, Iraq's Central Bank devalued its currency against the US dollar by almost 20 per cent. The value of $100 increased from 119,000 IQD to 145,000 IQD. Mukhif added that Iraq is still in its early stages of benefiting from the increased rate. He also noted that the bank is working on addressing some of the side effects of the high Iraqi dinar exchange rates. (NRT Digital Media)
  17. Mazhar Mohamed Saleh for / Nina / : currency and gold reserves .. Coverage of the country's short-term foreign debt Thursday 29 , September 2022 16:34 |EconomicalViews : 318 Mazhar Mohamed Saleh for / Nina / : currency and gold reserves .. Coverage of the country's short-term foreign debt (ninanews-com.translate.goog) Baghdad /Nina/ Financial expert adviser to Prime Minister Mazhar Mohammed Saleh confirmed that currency and gold reserves.. Coverage of the country's short-term foreign debt. He told the Iraqi National News Agency The efficiency of those reserves is seen by various indicators such as the percentage of coverage of foreign reserves for domestic cash source, or the percentage of coverage of foreign reserves for the country's foreign debt and its services due short-term. Saleh added that these indicators all confirm today that the country's foreign exchange reserves, which amounted to a value of about $85 billion in monetary gold, are of a high level of efficiency and represent a real monetary stability for the country. He explained that the country's reserves were managed according to the standard investment manuals approved globally and in various major existing currencies and invested in the best international financial instruments with a high credit rating and low risk and are considered one of the work of the country's foreign monetary policy.
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