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6ly410
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The Central Bank issues new directives for financial movements
Wednesday 10, January 2024 20:51 | EconomicalNumber of readings: 120
The Central Bank issues new directives for financial movements (ninanews-com.translate.goog)
Baghdad /NINA/ The Central Bank of Iraq issued a list of new directives to all banks regarding the procedures for financial transactions via debit cards./End 5
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Sudani opens the 47th edition of Baghdad Exhibition and announces new trade measures
2024-01-10 08:15Prime Minister Mohammed Shia Al-Sudani inaugurated, on Wednesday, the 47th Baghdad International Fair with wide international participation.
"I welcome brothers, friends, companies and businessmen in Baghdad for peace," al-Sudani said during the opening of the Baghdad International Fair.
He pointed out that "the Baghdad exhibition represents one of the aspects of the relationship between Iraq and friendly countries," explaining that "for the first time the Ministry of Trade sets the commodity structure for imports and exports."
"We cannot create development without reforming the banking and financial sector," the prime minister said, adding, "We have come up with a package of measures that contribute to tax reform."
"Today was a special day as we laid the foundation stone for the construction of a bridge on the Tigris River in the morning," he said, "I have begun the process of development and work for a strong, stable and prosperous Iraq."
A total of 850 different companies from 20 countries are participating in the exhibition, Commerce Ministry spokesman Mohamed Hanoun told Shafaq News.
Hannun added that "Saudi Arabia is the official sponsor of the conference, where 140 companies will participate."
He pointed out that "8 Arab countries and 12 foreign countries will participate in the exhibition, namely Saudi Arabia, the UAE, Jordan, Egypt, Syria, Oman and Palestine, while foreign countries will include Spain, India, Pakistan, Indonesia, Thailand, the Gec, Azerbaijan, the Philippines and others."
"The exhibition will last for 10 days, starting today and ending on the 19th of this month," Hanoun said, stressing that "we seek through this exhibition to establish real partnerships between the Iraqi and international private sector."
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Parliamentary Finance counts the money spent in 2023. What about the current year's budget?
- Today 19:00
Information/private.
Today, Wednesday, the Parliamentary Finance Committee determined who is able to make amendments to the 2024 budget, while referring to the amount of funds disbursed during 2023.
A member of the committee, Mueen Al-Kazemi, said in an interview with Al-Maalouma that "the budget, which was approved in mid-2023, is a tripartite budget, meaning that it will be applied for three years, which was estimated at 198 trillion Iraqi dinars, both operational and investment."
He added that "the government did not spend the amount of 198 trillion last year, but only spent 140-150 trillion dinars," noting that "last year's budget did not witness a deficit."
The member of the Finance Committee explained that "the 2023 budget, with its same items and texts, which consists of 78 articles, and its schedules (A, B, C, D, E), will be transformed into the budget of the current year."
Al-Kazemi indicated that "the current year's budget will be amended commensurate with the work of the government, and on the basis of which it was approved by the House of Representatives, and it is taking its way to implementation," stressing that "the government alone will make amendments to the budget law for the current year."
Earlier, economist Nabil al-Ali stressed that the government must submit tables on budget expenditures for the current year, noting that the government will negotiate with political forces to pass the amendments.
The process of the Council of Ministers' approval of a "tripartite" budget extending until 2025 was a positive point that was welcomed by a number of specialists in economic affairs, who praised the paragraphs supporting increasing sustainable development rates, especially in the health and educational aspects.
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Baghdad exhibition
Prime Minister: We are proceeding with confidence in the implementation of the development road project
Politics | Today, 18:32 |
Baghdad Today - Baghdad
Prime Minister Mohamed Shia Al-Sudani affirmed, on Wednesday (January 10, 2024), to proceed with confidence in the implementation of the development road project, indicating that the process of development and work for a strong, stable and prosperous Iraq has begun.
Al-Sudani said in a speech during the opening of the activities of the Baghdad International Fair for the 47th session, followed by "Baghdad Today", that "the Baghdad exhibition represents one of the aspects of the relationship between Iraq and friendly countries, and the government put a title and it was not a slogan, which is the establishment of real companies with brotherly countries."
He added that "the process of development and work for a strong, stable and prosperous Iraq has begun," noting that "the government since its first day has adopted economic reform, as we cannot create development without reforming the banking and financial sector, and we have started with a package of measures that contribute to tax reform."
In his speech, the Prime Minister called on companies and investors to engage with the Iraqi private sector, stressing that the implementation of the development road project will proceed with confidence.
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Diary of an Iraqi citizen in the time of the dollar
Diary of an Iraqi citizen in the time of the dollar – Iraq News Network (aliraqnews.com)
Last Updated: January 8, 2024 - 9:31 AMBy Samir Daoud Hannoush
He did not want or covet from his leaders, politicians and crowns of the heads of the homeland except a good living and bread with some drinking water. Of course, it is not free, as he used to pay the rent of everything in his homeland, even the piece of land that shelters him with his family paid in advance because he lives on rent.He used to sing in front of his children his love for the homeland, and how that homeland was stolen from him, the best years of his life spent between serving science and the years of his job.He was ecstatic with the love of the homeland, although he hated politics and its world.With his white dishdasha he used to sit with his comrades in that narrow alley that smelled of heavy water.It is inevitable to surrender to the terms of the dollar And admitting him, the man realized that he was wrong there is no place for dinars in his life as long as his whole life is hostage to others, he did not realize this fact until late, everyone was reliving the words of the Iraqi singer Hadiri Abu Aziz, who died in 1973 and who was the voice of the Iraqis when he sang to them "My uncle, Abu al-Mu'tid", it carried a lot of suffering and misery for the Iraqi people. Ghali tortured my conditions."
My retired friend is a simple man who never recognized a currency called the dollar, he loved the Iraqi dinar or others, and although the dinar changed its print, colors and value throughout the political regimes, he refused to recognize others even after the value of the dinar reached at the time of the blockade imposed on the Iraqis by America to the extent that people weighed the currency with the balance of fruits and vegetables when buying some things. The septuagenarian man woke up from his sleep in shock on the morning of democracy, which dressed America in its dress for Iraqis, to the voices of his wife and children cursing and cursing the time of corruption, thefts and difficult life, which is exacerbated by the rise in the price of the dollar and the corruption of the men in power from thieves.
The man's excuses no longer convince the angry so he had to leave his house to meet his comrades, on the way he looked at all the faces talking about the dollar crisis and its damage to their lives.He tried to satisfy his family with some of the needs that he carries for them when he returned from a store near his home and found that prices had doubled.Finally, everyone recognized the fait accompli of the dollar that governs and controls destinies, the dollar in which if Benjamin Franklin's picture laughs, life smiles, and if the opposite is woe and perseverance wait, The owner of a cart selling gas bottles is heard fighting with his neighbors because the price of the bottle rose as the price of the dollar rose, even the tuk-tuk driver apologized for accepting the old fare demanding an increase such as an increase in the price of the dollar.
Finally he realized that it was inevitable to surrender to the conditions of the dollar and recognize it, the man realized that he was wrong, there is no place for the dinar in his life as long as his whole life is hostage to others, he did not realize this fact until late.he sat with his friends in that narrow alley talking with pain, heartbreak and regret How was the price of one dinar in his golden time equivalent to three dollars, and how the dinar imposed its prestige when its owner roamed the countries of the world, the man's hair that he is deceived in his dignity with dinars and his power.
Finally, everyone recognized the fait accompli of the dollar that rules and controls destinies, the dollar in which the picture of Benjamin Franklin laughs, life smiles, and if the opposite, then woe and perseverance are waiting.The man did not realize that he was a hostage to the dollar and above him an authority that mortgages the homeland, the citizen and even the land in dollars.In each round, the dollar triumphed over the dinar, perhaps not the defect in the dinar.The man returned home after walking in the streets and watching the reactions of people cursing the high prices and the rise in prices because of the dollar as he repeated. With the situation of the dollar ... Live.
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Iran renews criticism of Iraqi monetary policy, proposes solutions
2024-01-09 13:58Shafaq News / Secretary-General of the Iran-Iraq Joint Chamber of Commerce Jahanbakhsh Sanjabi Shirazi, said on Tuesday that no special meeting was held between the directors of Iraqi banks and the US side regarding the suspension of foreign exchange with Iran, pointing out that the Central Bank of Iran also has its policies and solutions in this field.
The Iranian Fars News Agency quoted in a report published in Persian and translated by Shafaq News, for Sanjabi commenting on the news that "the American side summoned the directors of Iraqi banks and demanded that they prevent Iranian parastatal businessmen from circumventing sanctions," saying that the importance of this matter was so great that Iraqi news and specialized media aroused his personal attention, concluding that he finally reached the conclusion that such a meeting had not been held in the first place.
He added, there is no such thing as "semi-government traders" in the trade literature, and it is strange to mention this issue, in international trade there is either a government sector or a non-governmental sector, indicating that through his long experience in this field, he has not encountered such a word in international business.
The US Federal Reserve may have a role in the banking and monetary policy of the Central Bank of Iraq, but for a US official to summon the executives of Iraqi banks, reprimand them and take the necessary measures this request seems unlikely, pointing out that as far as he knows, the current Iraqi statesmen do not agree to such a thing in terms of legal status.
Sengabi said that discussing the restrictions and foreign exchange policies of the Central Bank of Iraq is not new and it has been a year since planning them, noting that the Central Bank of Iraq has developed during this period a series of policies in the field of currency regulation on the agenda, and this does not mean that the trade process between Iran and Iraq has stopped completely.
The secretary-general of the Iran-Iraq Chamber of Commerce stated that there are no problems or restrictions in Iran-Iraq trade. In any case, the CBI also has its own policies and solutions and can minimize America's damage in this regard, he said, explaining that among these solutions are the establishment of clearing houses (check exchange and settling of accounts between banks), the Central Bank of Iran's plan based on the "external rial", and the bilateral monetary agreement between Iran and Iraq, which can continue to trade between the two countries as in the past.
Sengabi also pointed to the consequences of the policies of the Central Bank of Iraq, by saying that it is certain that the implementation of such policies by the Iraqi government is the most harmful to the people of this country, in the first place that part of the services and goods that this country needs must be supplied from outside the borders of Iraq and if the needs of the people of currency as well as their currency and trade system are not met by the Americans, they will turn to the free market currency and with the difference in the government rate and currency. In Iraq, the pressure on the consumer is increasing and multiplying.
The member of the Iranian Chamber of Commerce said that the continuation of this process will cause problems in Iraq in the long run, and it is not excluded that this country will face complaints during the next six months from the trade and consumer system and the new policies of the Central Bank of Iraq.
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Sudani directs Finance, Central Bank and banks to reconsider the calculation of loan interest
{Economic: Al-Furat News} According to a government source, Prime Minister Mohammed Shia Al-Sudani directed the Ministry of Finance, the Central Bank of Iraq and government and private banks to reconsider calculating the interest paid on loans granted to citizens.Al-Sudani also directed, according to the source, "to use the method of simple decreasing interest instead of the cumulative method, which burdens the borrower with burdens that weigh on their shoulders."
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Directive from the Sudanese to the Central Bank and banks on the interest of citizens' loans - urgent
Politics | Today, 22:09 |
Baghdad Today - Baghdad
Prime Minister Mohamed Shia Al-Sudani directed, on Tuesday (January 9, 2024), the Central Bank and all banks to use the method of simple decreasing interest in citizens' loans.
A government source said in an interview with "Baghdad Today" that "the Sudanese directed the Ministry of Finance, the Central Bank of Iraq and government and private banks to reconsider the calculation of interest paid on loans granted to citizens."
He added, "He also directed, using the method of simple decreasing interest instead of the cumulative method, which burdens the borrower with burdens on them."
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Strengthening monetary sovereignty in Iraq... chaos in currency markets and accusations of manipulation
Local markets in Iraq are witnessing a state of turmoil as a result of measures to strengthen monetary sovereignty, as dealing in the dollar is abandoned and the Iraqi dinar is adopted in daily financial transactions, as a large difference appears between the official and parallel prices, which raises tension in the markets.In this context, a member of the Parliamentary Economics Committee in Iraq, Soran Omar, accused influential parties of being behind the manipulation of the exchange rate.
He pointed out that the government was unable to radically control the exchange rate, and that the measures taken to reduce it are still having limited impact.
He added that the ongoing smuggling and money laundering through some banks and money changers is working to complicate the situation, noting the continuation of the Central Bank's measures in this context.
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1 hour ago, 6ly410 said:
Barzani's party welcomes the amendment of the budget and the passage of the oil and gas law in its favor in exchange for the cadtrals remaining in power
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Barzani's party welcomes the amendment of the budget and the passage of the oil and gas law in its favor in exchange for the cadtrals remaining in power
Last Update: January 9, 2024 - 11:37 AMBaghdad / Iraq News Network - A member of the Kurdistan Democratic Party Wafa Muhammad Karim, Tuesday, that all indicators are positive regarding the amendment of the region's share in the budget, expressing his fear of "the coup of the last moments." He pointed out that "the delegation of the regional government received positive messages to resolve the file, but we learned that there is a decline at the last moment, and we hope this time that the agreement will be adhered to." The Kurdistan Regional Government is looking forward to two important issues in the budget, the first is adjusting the cost of extracting a barrel of oil and the quotas of foreign companies to resume exports, as well as separating the salaries of the region's employees from other financial disputes and not placing them under the actual expenditure item.
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MAINTENANCE LOL
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BACK UP
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3 hours ago, 3n1 said:
now now HS lets not kill the vibe , its imminent, cbi up and down thats got to be the trigger
Prime Minister: We are proceeding with confidence in the implementation of the development road project
in Iraq & Dinar Related News
Posted
Minister of Commerce: Baghdad International Fair has become a landmark and a civilizational and cultural interface
Wednesday 10, January 2024 18:27 | EconomicalNumber of readings: 253
Minister of Commerce: Baghdad International Fair has become a landmark and a civilizational and cultural interface (ninanews-com.translate.goog)
Al-Ghurairi said in a speech opening the activities of the Baghdad International Fair: "This session includes broad international and local participation that differs from its predecessors."
He added: "The services government, a year after its formation, adopted a comprehensive program to improve the economic situation." / End