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  1. Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms January 15, 2024 Instructions and standards for circulation and exchange of banknotes, and counting and sorting mechanisms .. For more, HERE
  2. Al-Sumaria News publishes the governorates that announced the closure of work tomorrow January 2, 2024 Al-Sumaria News publishes a list of governorates that announced the suspension of official working hours tomorrow, Wednesday. 15 governorates announced the suspension of official working hours in their departments tomorrow on the occasion of the anniversary of the assassination of the "leaders of victory." Below are the governorates: Wasit Diwaniyah Our mill Kirkuk Basra Babil, Come on Karbala Dhi Qar Baghdad Salads Nineveh Anbar Najaf Maysan On January 3, 2020, a US drone carried out an airstrike targeting the deputy head of the Popular Mobilization Forces, Abu Mahdi al-Muhandis, and the commander of the Quds Force of the Iranian Revolutionary Guards, Qassem Soleimani, near Baghdad International Airport.
  3. CBI News 12/31/2023 The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar currency In implementation of the monetary policy objectives and to enable banks to meet the foreign currency needs of their customers, the Central Bank of Iraq has determined the entities covered by receiving their foreign transfers in cash in the US dollar, as of January 2, 2024, according to the following: - All diplomatic missions, organizations and international agencies operating in Iraq. - Non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers, in the event that the foreign donor party stipulates that the amounts of incoming foreign transfers be paid in the dollar currency inside Iraq. - Government contracts in effect in the US dollar, and ongoing contracts for grants, loans, and foreign agreements. - 40% of the remittances received by Iraqi exporters resulting from their exports abroad. Except for what is mentioned above, banks are permitted to deliver to their customers the amounts of their transfers received from abroad in cash, from the bank’s own available resources, and according to the agreement between the bank and the customer. The Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interests/returns), and that the customer has the right to withdraw deposits and interest/returns deposited in cash. The Central Bank of Iraq noted that banks are not allowed to automatically transfer customer funds received from outside Iraq in the US dollar currency to the dinar currency except with the customer’s approval, stressing the decisions of the Council of Ministers to prevent internal transactions in foreign currency and to enhance confidence in the Iraqi dinar. Central Bank of Iraq Media Office December 31, 2023
  4. Finance issues a new directive to its employees Dec 28, 2023 Today, Thursday, the Ministry of Finance issued a new directive to its employees regarding working hours on Friday and Saturday. The ministry stated in a brief statement received by Alsumaria News, "Minister of Finance, Taif Sami, directed employees of the accounting and budget departments and the Central Bank to work on Friday and Saturday." She stated that "for the purpose of completing the transfer procedure for investment projects, and including the salary differences and associated transfers in current expenses."
  5. "No holiday until the end of the year." Minister of Finance issues a directive to the employees of the Budget Department December 8, 2023 Today, Friday, December 8, 2023, Finance Minister Taif Sami directed the employees of the Budget Department to continue official working hours on Friday and Saturday until the end of the current year 2023. The ministry stated in a statement received by Al-Sumaria News, "The Minister of Finance Sublime spectrum I directed the continuation of the official working hours of the employees of the Budget Department on Friday and Saturday until the end of the current year 2023."
  6. Suspension of official working hours for next Sunday 12/7/2023 Prime Minister Mohammed Shia al-Sudani directed, on Thursday, to suspend the official working hours for next Sunday on the occasion of the liberation of the land of Iraq from the terrorist gangs of ISIS (Victory Day). The General Secretariat of the Council of Ministers said in a brief statement received by Al-Sumaria News, that "the Prime Minister, Mohamed Shia Al-Sudani, directed to suspend the official working hours for Sunday, corresponding to the tenth of December. year 2023, on the occasion of the liberation of the land of Iraq from the terrorist gangs of Da'a Sh. (Victory Day)."
  7. The 2023 budget loses its "explosive" character: the year will end with only 58% of it being spent December 4, 2023 The 2023 budget approved by the Iraqi parliament last June was described as an "explosive budget" and the highest in the history of Iraq's budgets, as it amounted to 199 trillion Iraqi dinars, but as the end of the current year approaches, it is expected that only 58% of the budget will be spent. Member of the Parliamentary Finance Committee, Moeen Al-Kazemi, said, "The committee had a meeting with the Budget Department in the Ministry of Finance, and what has happened so far is the release of allocations to the governorates and ministries, but not in the required manner," noting that "what was spent during the first six months amounted to 47 trillion dinars." ", according to the official Al-Sabah newspaper. Al-Kadhimi added, "In the second six months, the spending rate will reach more than 70 trillion, and thus we will not have a budget deficit, but rather there will be a surplus," stressing that "next year will be without a deficit." Al-Kadhimi pointed out that after the elections are completed, more allocations will be made to governorates and ministries to implement projects, which will lead to the advancement of the government program presented by the Prime Minister. Accordingly, the total amount that will be spent will amount to only 117 trillion dinars during the current year, an amount equivalent to only 58% of the total budget amounting to 199 trillion dinars, which was described as the highest in the history of Iraq.
  8. The Central Bank reveals the discussions of the joint Iraqi delegation in Türkiye December 2, 2023 The discussions conducted by a joint Iraqi delegation (the government, the Central Bank, the Association of Iraqi Private Banks, and the banking sector represented by a number of private banks) were completed in Istanbul and returned to Baghdad yesterday morning. The discussions culminated in the following: Agreement to make banking arrangements between Iraqi banks and their Turkish counterparts through intermediary banks to ensure trade exchange for major merchants and importers and to make and pay remittances in the euro and Turkish lira currencies. Agreement on organizing the trade exchange for small merchants and retailers (dinar in exchange for euros or Turkish lira) under arrangements with combined transfers according to a commercial organization that guarantees the integrated cycle of the commercial process (depositing in dinars inside Iraq, paying in euros or lira in Turkey, shipping goods from Turkey to Iraq). This facilitates the external transfer of thousands of Iraqi traders and spares them from working through non-fundamental means. This also comes in the context of regulating trade and external transfer in accordance with sound practices and standards and within the framework of the comprehensive plan pursued by the Central Bank to open multiple channels, outlets and currencies with the aim of maintaining the stability of the financial system and protecting it from risks. Achieving general price stability by covering imports at the official price, which is confirmed by controlling inflation rates. Central Bank of Iraq Information Office 2 - December 2023
  9. The Governor of the Central Bank chairs the first meeting of the Iraqi National Payments Council December 2, 2023 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the first meeting of the Iraqi National Payments Council after its restructuring. During the meeting, which was attended by officials from the Central Bank and representatives of the relevant ministries, the government and private banking sectors, electronic payment service providers and other actors, the objectives of the Council and the main tasks that it intends to implement were reviewed to achieve national strategies to develop the infrastructure of the financial and banking sector, advance the components of the electronic payment environment, and strengthen the pillars of inclusion. Finance in Iraq. The Council discussed the experiences of other countries in the field of payment systems and the mechanisms necessary to implement Iraqi Council of Ministers decisions No. 23044 and 23620 for the year 2023, as well as proposals that would contribute to the implementation of these decisions with the aim of expanding the scope of work of Iraqi electronic payment systems and linking them with various institutions, ministries and bodies and encouraging The public wants to use it and benefit from the advantages it provides. It is noteworthy that the Iraqi National Payments Council aims to coordinate and achieve cooperation between regulatory and supervisory authorities, executive authorities and financial institutions. Central Bank of Iraq Information Office 2 - December 2023
  10. Al-Sudani directs the adoption of the main electronic account for the settlement of financial operations November 23, 2023 Prime Minister Mohamed Shia Al-Sudani directed the adoption of the main electronic account branched to solve the problem of settling government financial operations. A government source told Al-Sumaria News, "The Prime Minister Mohamed Shia Al , SudaniHe directed the adoption of the main electronic account to solve the problem of settling government financial operations and collecting electronic payments from beneficiaries, including collecting funds and increasing the transparency of their movement, noting that this account will ensure the settlement of transactions on the same working day and increase the government's ability to monitor public money. He added, "The directives were issued to Ministry of Finance by instructing government institutions (tunnel units) to implement this with the banks holding their official accounts."
  11. The Sumerian reveals the outputs of an Iraqi – American meeting on external financial transfers November 11, 2023 A government source revealed, on Saturday, the outputs of a meeting between the Central Bank of Iraq and the American side regarding external transfers to cover revenues. The source said to the Sumerian News, "The past few days have witnessed intense meetings between a delegation from the Iraqi Central Bank and the American side responsible for external transfers to cover imports, in Abu Dhabi". He added, "The negotiations culminated in a number of decisions and mechanisms that contribute to facilitating the procedures for external transfers related to revenues through the window of selling foreign currency, where: Agreement to enhance the advance balance of five Iraqi banks in their accounts in dollars with Jordanian banks and remittances through (jp morgan). Solve problems related to rejected transfers, and it was agreed that the refusal of remittances is based on strong reasons. - Other meetings took place that brought together a US bank, the Central Bank of Iraq, and the American side to implement the UAE Dirham pilot mechanism. He added, "Things are going well in this regard, as all the technical details related to the issue have been resolved, and it is expected that the mechanism of enhancing the balances will start with the Emirati dirhams during the next few days". The source (who preferred not to reveal his name) stressed that "there are serious negotiations that have reached their final stages to enhance the balances of some Iraqi banks in euros with the UBAF bank; to finance trade with the European Union". In the same context, he referred to "the increase in the number of banks whose balances are strengthened in Chinese yuan through the Singapore Development Bank، Where accounts were opened for 6 Iraqi banks in this bank, and during the coming period, 7 other banks will be added to finance Iraqi trade and revenues from China, where these revenues are estimated at 12 billion dollars annually". And he continued his speech: "It has also started to open bank accounts in the Indian rupee for a number of Iraqi banks in the same correspondent, the Singapore Development Bank (New Delhi branch), and the balance enhancement operations of two Iraqi banks have already taken place as a first stage". He expected that "this mechanism will contribute to financing Iraq’s revenues from India, especially medicines and foodstuffs, which are estimated at $ 3 billion".
  12. Government directive regarding the banking sector in Iraq Oct 15, 2023 Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani directed the simplification of all banking procedures, and he also directed the preparation of a proposed list of facilities and simplified procedures to be submitted within a week. Al-Sudani's office said in a statement, "Within the framework of his follow-up to the plan to implement financial and administrative reforms in the financial and banking sectors, Prime Minister Muhammad Shia' al-Sudani chaired, this evening, Sunday, a meeting that included the Governor of the Central Bank and the directors of government banks, in which the procedures and work mechanisms taken to achieve... Banking reform, which constitutes one of the basic steps of financial and economic reform that the government adopts in its executive approach." Al-Sudani stressed, according to the statement, that "financial reform is not just a slogan, but rather a series of terms and procedures that the government is determined to implement without hesitation, and will face all the challenges and obstacles that impede the progress of implementing systematic and thoughtful reform plans." According to the statement, Al-Sudani stressed that "financial reform is not just a slogan, but a series of vocabulary and measures that the government intends to implement without hesitation, and will face all challenges and obstacles that hinder the implementation of systematic and studied reform plans."
  13. إحلال الدينار محلَّ الدولار Bing translates the title as: "Replacing the dollar with the dinar"
  14. Sudani: We are proceeding with economic and service reforms that the Iraqi street touches Oct 11, 2023 Prime Minister Mohammed Shia Al-Sudani stressed on Wednesday that the government is continuing to implement economic, administrative and service reforms, pointing to the importance of the contribution of Iraqi competencies in building Iraq and achieving the desired progress. said Information Office to the Prime Minister in a statement received to "Al , Sumaria News"Al-Sudani met today with a group of the Iraqi community residing in the Russian Federation, on the sidelines of his official visit to Russian capital Moscow". The office added that "the Sudanese listened during the meeting, to a comprehensive presentation on the conditions of the Iraqi community, the progress of their affairs and requirements and the most important obstacles and difficulties facing them in their residence." Speaking to the elites of the community, al-Sudani stressed that "the government is proceeding with the implementation of economic, administrative and service reforms that are felt by the Iraqi street, and achieve the aspirations of the people and what they want from the government." Al-Sudani pointed to "the importance of the contribution of Iraqi competencies, wherever they exist, in building Iraq and achieve the desired progress," expressing that "the government welcomes the embrace of all those who wish to contribute to development and reform," stressing that "the government adheres to the support of Iraqi citizens everywhere, and is keen to facilitate their affairs, provide them with all administrative services, and take care of their affairs." It is noteworthy that the Prime Minister, Mohamed Shia Al , Sudani, arrived yesterday, Tuesday (October 10, 2023), to Russian capital Moscow on an official visit.
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