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Mary B

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  1. utube 5/27/24 BRICS Financial Forum Today: Is BRICS Currency?
  2. Economy Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate Today 13:40 Information / Baghdad Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate. Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.” He added, "The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations." He explained, "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." Ended / 25 ADالبنك-المركزي:-صدور-فئات-نقدية-جديدة-لن-يؤثر-على-سعر-صرف-الد
  3. Iraq is turning to digital banks.. What does it offer to the banking sector? Drains Economy News - Baghdad The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask. Financial expert Ziad Al-Hashimi says, “Online banks, also known as digital banks or neo-banks, are banking financial institutions that operate completely and exclusively over the Internet, and unlike traditional banks, where digital banks usually do not have physical branches.” In cities, they rely on providing their services on the website and mobile phone applications, and the banking services that citizens, merchants, and institutions need can be provided through phone applications.” He continues, “The most important advantages of digital banks are the ease of opening an account, accessing and managing the balance, lower fees and costs, and having diverse and distinct services (such as budget applications, spending plans, and flexible integration) and other advantages. Because of these advantages, digital banks have begun to spread in many countries in Europe.” And the Americas and Asia, and among these banks - Chase bank - Monzo - Revolut - Starling - Tide and other digital banks.” Al-Hashemi explains, “The issue of the success and expansion of this type of bank is linked to the state of the economic environment and the nature of society, as these banks often rely on non-cash electronic operations that are active in an advanced banking system, and a society that tends to use cards instead of cash in its transactions.” The financial expert calls on the Central Bank of Iraq to “wait a little in granting licenses to digital banks, evaluate all these risks and challenges, and search for new timings to launch this type of banks. They must be aware of the availability of favorable conditions and the presence of high chances of success, instead of haste and adventure, as this is a recipe.” "Ready to fail." The establishment of any digital bank, inside Iraq, requires that about 30% of its shares belong to a traditional bank, and the services should be published via the Internet and mobile phone applications, and there should not be any branch, but only the general administration, and all services via the Internet, such as issuing a bank card and financial transfers. Deposits, loans, etc. Iraq owns more than 70 banks, many of which were subjected to US sanctions, while the financial inclusion rate reaches a low level due to weak confidence between the banking sector and citizens as a result of the bankruptcy of some of them. The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, had previously confirmed, on the sidelines of a celebration organized by the bank, that the steps achieved in financial inclusion that were accomplished today are accelerating and can close the gap that occurred during the past years as a result of the circumstances that Iraq went through. Al-Alaq stated that the bank has ongoing meetings with the Iraqi government to expand the customer base in electronic payment methods and enhance financial inclusion, “as we see a great response from various state institutions in the context of expanding the financial and banking culture in Iraq.” Al-Alaq said, “The factors that lead to the success and expansion of the role of financial inclusion are the citizen’s confidence in the institutions and tools available to him, as well as his vision of his interest in using them.” He continued, "The Central Bank has become at the forefront of global central banks by using various financial technologies that provide speed and accuracy," revealing at the same time that "the bank has received large numbers of applications to establish digital banks. The concerned departments are working on the possibility of granting it a license to carry out its work in accordance with the controls and instructions issued." By the bank. For his part, financial expert Mahmoud Dagher believes in a press interview followed by Al-Iqtisad News that “digital banks are natural banks, just like traditional banks, but they operate through applications and do not have face-to-face dealings.” According to Dagher, digital banks can perform their work as an independent digital bank or even as classic banks, pointing out that the young generation has now become knowledgeable in using financial technology for withdrawal, transfer, etc. Today, Iraq has one digital bank, while many applications are waiting for the green light from the Central Bank of Iraq to grant them a license to carry out their work in accordance with the controls and instructions issued by it. According to the Central Bank of Iraq, licensing requirements to practice digital banking activity include that digital bank licenses in Iraq do not exceed (10%) of the total licensed banks, in addition to the presence of an economic feasibility study that includes business plans, strategies, and financial indicators for 4 years, including the technical aspect and services. scheduled to be launched. It is noteworthy that these digital banks are subject to all laws, regulations and instructions issued by the Central Bank, including the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015. Views 105 Added 05/27/2024 - 2:03 PM
  4. International praise for the efforts of the Iraqi Central Bank: controlling inflation and strengthening the banking sector Drains Economy News - Baghdad The International Monetary Fund praised the actions of the Iraqi government led by the Central Bank of Iraq, indicating that it had taken several measures aimed at stabilizing the national currency and controlling monetary inflation. The Central Bank media stated, in a statement received by Al-Eqtisad News, that it “raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that are affecting the economy.” Iraq suffered from it, and this contributed to creating a more stable economic environment.” The report stressed that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.” The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.” Views 71 Added 05/27/2024 - 2:34 PM
  5. Zaha Hadid's currency raises concerns about inflation and prompts the Central Bank to urgently do so Translated reports |Yesterday, 22:44 | Baghdad today - follow-up In the past few hours, social media in Iraq has witnessed the spread of an image of a new one-hundred-thousand dinar banknote bearing the image of the late famous architect Zaha Hadid, raising a wave of international concern about the Iraqi currency being exposed to additional “inflation” as a result of the news. Today, Sunday (May 26, 2024), the BNI Intelligence Network published a report translated by “Baghdad Today” about the new currency, stressing that “its spread through social media has caused concern in economic circles about the Iraqi economy being exposed to another “inflation.” As a result of the currency, the image of which spread, being described as “a denomination of one hundred thousand Iraqi dinars,” which indicates economic inflation as a result of the spread of high denominations of cash. The image that spread prompted the Central Bank of Iraq to issue an urgent statement in which it denied its intention to issue a hundred thousand dinar banknote, warning of taking legal measures against those who spread “rumors and counterfeit currencies” on social media, calling on Iraqis to “take caution” in Dealing with news about new currencies. It is noteworthy that the banknote whose image was published turned out to be an artistic work done by students from the Institute of Fine Arts in Mosul, and calls for greater representation of women on official banknotes, according to the network.عملة-زها-حديد-تثير-القلق-من-التضخم-وتدفع-المركزي-لأمر-عاجل.html
  6. The Central Bank denies issuing a 100,000 dinar currency local The Iraqi Central Bank clarifies regarding the issuance of a currency denomination of (100) thousand dinars Today 14:49 Information / Baghdad.. On Sunday, the Central Bank of Iraq denied issuing a new currency of 100 thousand dinars. A statement from the Central Bank, received by “Al-Ma’louma”, stated that “the image of a new 100,000 dinar banknote that was circulated on social media sites is a fake image, bearing the image of the late Iraqi architect Zaha Hadid.” The bank called on citizens to "be careful and not deal with it if some offer it for the purpose of fraud." The bank stated that “there are no intentions to print a new currency at the present time,” stressing that “it will take legal measures against violators and promoters of this counterfeit currency.” Ended 25البنك-المركزي-ينفي-إصدار-عملة-فئة-100-ألف-دينار
  7. The Central Bank of Iraq "denies" issuing a currency in the category of (100) thousand dinars and warns against dealing in it SUNDAY, 05-26-2024, PM 2:25 The Central Bank of Iraq denied issuing a new currency in the denomination of (100) thousand dinars, indicating that the image of the new currency circulated on social networking sites is a “fake” image bearing the image of the late Iraqi architect Zaha Hadid. The bank called on citizens to be careful and not deal with it if some offer it for the purpose of fraud. The Central Bank confirms that there are no intentions to print a new currency at the present time, stressing that it will take legal measures against violators and promoters of this counterfeit currency.
  8. In numbers... budget tables paralyze investment allocations to governorates Economy |Today, 11:52 | +A-A Baghdad today - painting Today, Friday (May 17, 2024), economic expert Nabil Al-Marsoumi revealed the size of the investment amounts received by the governorates during the first quarter of 2024. Al-Marsoumi wrote in a post on the social networking site “Facebook”, which was followed by “Baghdad Today”, that “the investment amounts received by the governorates during the first quarter of 2024 were distributed between Basra Governorate at 144 billion dinars, Nineveh at 134.8 billion dinars, and Baghdad at 154.5 billion dinars.” . Al-Marsoumi added, “While Dhi Qar Governorate received 102.4 billion dinars, Diyala 7.9 billion dinars, and Babylon 52.6 billion dinars,” pointing out that “Anbar received 58 billion dinars, Maysan 81.8 billion dinars, and Wasit 52.9 billion dinars, and Najaf’s share was 43.8 billion dinars.” dinars, Diwaniyah 63.3 billion dinars, Muthanna 43.9 billion dinars, and Karbala 52.8 billion dinars.” He continued, "While the governorates of Salah al-Din and Kirkuk did not receive any amounts," stressing that "the total amount of amounts distributed was 992.7 billion dinars out of 6 trillion dinars, which are allocations for the development of the regions and petrodollars." Al-Marsoumi explained, “The governorates have received only 16.5% of the investment allocations due to them and included in the currently suspended tripartite budget due to the delay in the schedules arriving from the government to Parliament,” stressing that “it is one of the most important reasons for the delay and delay in implementing projects in the governorates.” A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, confirmed on Wednesday (May 15, 2024) that the Council of Ministers will vote to approve the financial budget schedules for the year 2024 in its special session scheduled for next Sunday. Al-Karaawi said in a televised statement, followed by “Baghdad Al-Youm,” “The Council of Ministers will vote next Sunday on the budget schedules so that they quickly reach the House of Representatives.” He warned that "projects may slow down if financial liquidity is not secured for them and must be secured through budget schedules," stressing that "proceeding with a budget with a high deficit is a financial risk." Al-Karaawi also stressed, “The 2024 budget schedules must be studied carefully and government agencies must be hosted,” noting that “the House of Representatives has the authority to transfer and reduce spending in the schedules and reduce the percentage of the deficit in them.” He stressed, "We will try to resolve the schedules file during the end of the current legislative term, which has been extended for one month so that the government can proceed with the projects," adding, "We are determined to resolve this file in order to give the government full freedom to implement its urban and investment program and plans." It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani directed, in the Council of Ministers session last Tuesday, to hold an extraordinary session of the Council next Sunday, to discuss the federal budget schedules for the year 2024.بالأرقام.-جداول-الموازنة-تصيب-التخصيصات-الاستثمارية-للمحافظات-بـالشلل.html
  9. Trade announces the opening of the new Iraqi Commercial Attaché headquarters in Washington Friday 17, May 2024 21:10 | EconomicalNumber of readings: 61 Baghdad / NINA / The Ministry of Commerce opened the headquarters of its new commercial attaché in the United States of America. A statement by the Ministry’s Media Office quoted the Director General of the Department of Foreign Economic Relations, Riyad Fakher Al-Hashimi, as saying, “The Iraqi Ambassador to Washington, Nizar Al-Khair Allah, opened the new headquarters of the Commercial Attaché in Washington, after the headquarters had been in the Iraqi embassy building since 2014.” The statement indicated that "the opening of a new headquarters for the commercial attaché comes within a set of steps taken by the ministry to strengthen the work of the commercial attachés to be able to strengthen Iraq's economic and trade relations in their field of work, under the direct supervision and support of the Minister of Commerce, Atheer Daoud Al-Ghurairi." /End 8
  10. In agreement with international companies, the first tourist flight was launched from Kirkuk Airport to Azerbaijan 2024-05-17 02:19 Share Font Shafaq News/ The Kirkuk Tourism Department announced today, Friday, the launch of the first tourist flight from the governorate’s international airport to Azerbaijan, according to an agreement with specialized international companies to revitalize this sector. Director of Kirkuk Tourism, Sarmad Muhammad Jamil, told Shafaq News Agency, “The tourism sector in Iraq is a very important resource for supporting the national economy, and the influx of tourists to Iraq will reflect positively on other sectors and represent a means of exchanging different cultures.” He added, "Today, the first flight was launched from Kirkuk Airport to Azerbaijan for tourists from the people of the governorate and others, including 81 tourists. This trip comes in accordance with an agreement between Iraqi and Azerbaijani tourism companies, and within agreements that the companies are working to develop and make them joint cooperation trips between the two sides." Jamil pointed out that "Kirkuk Tourism is working to organize return trips to Kirkuk to revitalize the tourism sector in the governorate because it is an important historical city and has many tourist attractions, so we are working to develop this important sector and attract tourists."اقتصـاد/بالاتفاق-مع-شركات-دولية-انطلاق-ول-رحلة-سياحية-من-مطار-كركوك-لى-ذربيجان
  11. Iraq repays IMF loans in full Economy | 03:37 - 05/16/2024 Mawazine News - Baghdad The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced today, Thursday, the repayment of International Monetary Fund loans to Iraq since 2003, and while he indicated that their total did not exceed 8 billion dollars, he confirmed that they had been repaid in full. Saleh said, according to the official agency, “Since 2003, the International Monetary Fund has provided several loans to Iraq that were aimed at supporting macroeconomic stability and implementing financial reforms. Between the years 2003 and 2021, Iraq obtained several financing programs from the International Monetary Fund, including loans.” Emergency and relatively long-term financial assistance. He added, "In the first years after 2003, the Fund provided significant support to Iraq through various programs, including the SBA Credit Readiness Program and the Rapid Financing Instrument. For example, in 2016, the International Monetary Fund approved an SBA Credit Readiness Program worth 5.34 Billions of dollars to support economic reforms in Iraq, and Iraq received two-thirds of the above amount, and it was paid in full within five years.” Saleh continued, “In 2021, Iraq requested an emergency loan worth $6 billion from the International Monetary Fund, and it appears that the loan was not materialized because it was not linked to one of the Fund’s programs at the time,” noting that “methods of cooperation with the International Monetary Fund have been targeted to support government reforms.” And confronting the economic crises that resulted from the decline in oil prices, which were linked to fluctuations in the balance of payments and its effects on economic activity.” He stated, “Since 2003, the value of loans and financial aid granted by the International Monetary Fund to Iraq has amounted to several billion dollars, and their total does not exceed 7 to 8 billion dollars, and they have been fully repaid, with a focus when granting loans on implementing programs linked to supporting macroeconomic stability and implementing reforms.” necessary finances.
  12. Plasschaert: We are witnessing a rising Iraq in the fields of service provision and reconstruction Political | 05:39 - 05/16/2024 Mawazine News - Baghdad The Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, confirmed today, Thursday, that Iraq is witnessing a renaissance in the fields of service provision and reconstruction, and it is developing. Plasschaert said during her briefing on Iraq before the UN Security Council and followed by Mawazine News: “I believe that we are witnessing a rising Iraq, and... Especially in the areas of service provision and reconstruction.” She added, "Iraq 2024 is developing - and quickly, and we hope that more progress will be achieved in the future for all Iraqis." She touched on the issue of electing the Speaker of the House of Representatives and said, “I can only emphasize, for multiple reasons, the importance of choosing a Speaker of the House of Representatives, and with the upcoming vote of Parliament, which is now expected to take place next Saturday, there is hope that the new Speaker of the House of Representatives will be named soon.” . Regarding the Kurdistan Regional Parliament elections, she indicated that “there is an urgent need for elections in the Kurdistan Region, which are inclusive of all, and it is hoped (or better: expected) that voting will take place with the least possible delay, and in all cases no later than four months from Now, with the quota for minority representation.”
  13. Kurdistan outlets confirm their commitment to Baghdad’s controls, but: 70% of the outlets are “outside everyone’s control” Politics |Yesterday, 20:52 | +A-A Baghdad today_Erbil The Director General of Kurdistan Customs, Samal Abdul Rahman, confirmed today, Thursday (May 16, 2024), that all the region’s ports adhere to the instructions of the federal government. Abdul Rahman said in an interview with “Baghdad Today” that “any instructions issued by Baghdad regarding imported goods, we adhere to them, and the conditions apply to all ports in the Kurdistan region.” He added, "The region's ports do not bring in any prohibited materials, and what is published about the entry and smuggling of prohibited materials is an insult to our ports, which record a high indicator of compliance with conditions and instructions, whether those issued by Baghdad or the regional government." Data and reports indicate that there are more than 30 outlets in Kurdistan, including only 6 outlets officially recognized by Baghdad, and 5 outlets recognized by the regional government, which means that approximately 20 other outlets are not even controlled by the regional government and smuggling is active in them. .منافذ-كردستان-تؤكد-التزامها-بضوابط-بغداد-ولكن-70-من-المنافذ-خارج-سيطرة-الجميع.html
  14. Washington clarifies its position on stopping Kurdistan oil exports through Türkiye money and business Economy News - Baghdad The United States State Department said on Friday that it is in constant contact with officials in Baghdad, Ankara, Erbil and American companies to resume the export of Iraqi Kurdistan Region oil via the Turkish Ceyhan Port pipeline. Deputy spokesman for the US State Department, Vedant Patel, said at a press conference held in Washington, "Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States." He added, "We are in direct and continuous contact with officials in Baghdad, Ankara, Erbil, and American companies affected by the cessation of oil exports, regarding the opening of the Iraqi-Turkish oil pipeline." Ankara halted the flows on March 25, 2023, after an arbitration ruling found that it violated the provisions of the 1973 treaty by facilitating oil exports from the Kurdistan Region without the approval of the federal government in Baghdad. The court ordered Ankara to pay $1.5 billion in compensation to Baghdad for unauthorized exports between 2014 and 2018. A second ongoing arbitration case covers the period from 2018 onwards. Two sources familiar with the lawsuit said that the two countries remain embroiled in a long-term legal struggle. Meanwhile, Iraq owes Turkey minimal payments as long as the pipeline is technically operational — which consultancy Wood Mackenzie estimates at about $25 million a month — as part of the treaty, theoretically providing an incentive to resume flows. 120 views Added 05/17/2024 - 9:12 AM
  15. Policy The Parliamentary Energy Committee determines its position on the new oil coupons Today 13:00 Information / Baghdad Today, Friday, the Parliamentary Energy Committee expressed its refusal to release what it called new oil coupons. The head of the Parliamentary Energy Committee, Mohamed Nouri, told Al-Maalouma, “The Oil Derivatives Distribution Directorate issued a decision to cancel work on old coupons and issue new ones.” He was surprised by “what happened as it was considered a new step to increase routine and exhaust citizens.” He called for "stopping these measures and taking flexible measures that do not lead to creating other financial burdens on citizens." He pointed out that “the committee will follow this file closely and discuss it with the relevant authorities and seek to stop decisions that increase red tape.” End 25 Fلجنة-الطاقة-النيابية-تحدد-موقفها-من-كابونات-النفط-الجديدة
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