Currency Auction: The Central Bank Sells More Than $ 190 Million

[Mary B]

Currency Auction: The Central Bank Sells More Than $ 190 Million

Last updated Oct 6, 2020

The Independent / - The Central Bank, which is an independent body concerned with drawing up monetary policy in Iraq, announced the sale of 190,799,690 dollars within the window of the foreign exchange sale on Tuesday, October 6, 2020.

The data reported by the bank on its official website showed that the total sale for the purpose of enhancing funds abroad (transfers, credits) amounted to 169,249,690, while the total cash sale amounted to 21,550,000 dollars.

Thus, the total sales for this day is 190,799,690.

It is noteworthy that the new central bank governor ordered a change in the method of displaying information on the currency auction, as the new data showed that it was free from the list of names of the banks participating in the auction, which raises surprise and suspicion about this decision.

https://www.mustaqila.com/مزاد-العملة-البنك-المركزي-يبيع-اكثر-من-4/

[King Bean]

Thanks MaryB. Wondering how long these go on before Kazemi pulls the plug. Hmmmmm.

[Mary B]

after 16 years I'm just hanging in there just posting,thinking burns me out tired of it

[cutter73]

36 minutes ago, Mary B said:

after 16 years I'm just hanging in there just posting,thinking burns me out tired of it

Hang in there a little longer... @Mary Bwe're  all in that boat.  I need to have 3 discs replaced before the end of the year. Things are looking up. 

[justchecking123]

54 minutes ago, Mary B said:

after 16 years I'm just hanging in there just posting,thinking burns me out tired of it

Appreciate all you bring here. 

[Artitech]

28 minutes ago, cutter73 said:

Hang in there a little longer... @Mary Bwe're  all in that boat.  I need to have 3 discs replaced before the end of the year. Things are looking up. 

Praying for your complete healing!🤠 Hopefully we will see something before the 15th of October 2020! If not looks like March 2021! JMHO 

[cutter73]

1 minute ago, Artitech said:

Praying for your complete healing!🤠 Hopefully we will see something before the 15th of October 2020! If not looks like March 2021! JMHO 

Thanks @Artitech The jokers at Mayfield Brain and Spine did a surgery not needed three years ago.  Cincinnati Spine Institute said. All I want to do is throw my steal toed boots and welding helmet at Iraq and retire...at this point. 🙏 go out for everyone...

[Laid Back]

The recent reforms of the Central Bank are a practical step to stop currency smuggling.
 

Go white papers

Go banking reforms 

Go RV

[Spartakus]

Thank you for your hard work Mary B. Please don't give up it will be over one day in a positive way for all of us.

[stanleypower]

Thanks Mary for all your hard work. It's been a long road for all of us. I wish I could be more confident we are close to the end of this ride. I find it hard to decipher all the articles coming out these days. Maybe that's intentional on their part.

[Half Crazy Runner]

2 hours ago, Mary B said:

after 16 years I'm just hanging in there just posting,thinking burns me out tired of it

Thanks for being here and bringing the news Mary B! We all really appreciate it! I sincerely hope and pray that this is wrapping up now 🙏🏻 We are all ready to move on  

[DinarThug]

LINK

Currency Auction: The Central Bank Sells More Than $ 190 Million

 

6th October, 2020

The Central Bank, which is an independent body concerned with drawing up monetary policy in Iraq, announced the sale of 190,799,690 dollars within the window of selling foreign currencies on Tuesday, October 6, 2020.

The data reported by the bank on its official website showed that the total sale for the purpose of enhancing funds abroad (transfers, credits) amounted to 169,249,690, while the total cash sale amounted to 21,550,000 dollars.

Thus, the total sales for this day is 190,799,690.

It is noteworthy that the new central bank governor ordered a change in the method of displaying information on the currency auction, as the new data showed that it was free from the list of names of banks participating in the auction, which raises surprising and suspicion about this decision.

[Mary B]

Wednesday, October 07, 2020 07:20 AM

 

Basra is the capital of corruption in Iraq ... and a difficult test for the Al-Kazemi government

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Observers said that Basra and its ports represent the most important test for the government in Baghdad, if it wants to achieve progress in the fight against corruption and impose state sovereignty, in a way that will directly and quickly affect the lives of citizens and their livelihood. 
They indicated that Basra Governorate is among the poorest governorates, a reality that completely contradicts the fact that this southern city is the main crossing point for more than 80 percent of the goods entering Iraqi markets. 

In addition to the important sea ports in Basra , the governorate enjoys great oil resources, which reinforces the confused questions about the reasons that make Basrians not reach the benefits of these goods, which is reflected in their living standards in a better way. 

There is general agreement that Basra is the economic artery of Iraq , and for this reason, Mustafa Al-Kazemi's government’s methods for this file are intertwined with the phenomena of corruption by quotas with militias and conflicts. The visual sources confirm that the declared government’s desire to deal with these heavy files will bear fruit quickly in front of public opinion. Iraqi. 

For example, the Border Ports Authority stated in July 2020 that the port of Umm Qasr port in Basra Governorate achieved financial income for the state treasury in the amount of more than 23 billion Iraqi dinars during the month of June alone. In a report by the Central Bureau of Statistics last August, the revenues of Iraq's ports increased by 7.3%, and the total revenues generated by the General Ports Company amounted to 486.3 billion dinars for the year 2019 compared to 453.3 billion dinars for the year 2018. 

On the other hand, the estimates of the Iraqi Ministry of Planning indicate that the poverty rate in Basra is 16 percent, which are figures recorded before the deterioration of the economic situation and the outbreak of the Corona pandemic, and it also contradicts other unofficial figures indicating that the poverty rate in this province reaches 50 per cent. Percent. 
The Iraqi coastline extends over the Gulf with a length of 58 km, and it includes the Basra oil port dedicated to exporting oil and is considered one of the most important Iraqi oil export points on the Gulf waters, and it is also one of several commercial and oil ports, including Umm Qasr Port, Khor Al Zubair Port, and Al Faw Grand Port. 
Therefore, these facts require the posing of the essential question: Where do these resources go and why this deterioration in the situation in Basra? 

Sources agree that BasraIts ports are witnessing intense struggles to control and extend influence between the various parties, which turns the city into a morsel that is fought over by hungry stomachs from the various forces of corruption, while its people struggle with hunger.

The problem, according to the sources, is that the multiplicity of authorities in the work of the ports may have given the various parties the opportunity to struggle and devour their green and dry teeth in light of the spread of extreme poverty among many Iraqi and Al-Basra families. 

Citizen Abu Hashem, a resident of Umm Qasr, says that his area is one of the areas that witness a great deterioration in services, noting that despite the availability of some projects, they remain shy and not commensurate with the size of the population there. 
Abu Hashem added that among the existing problems is the failure to restore life to the ports, including the port of Umm Qasr, which receives daily imports that can rebuild all of Basra, explaining, for example, that it is shameful that the road leading to the port suffers from curvatures and underdevelopments, which, in his opinion, indicates apparent effects. Corruption and partisan interference that hinders the work of the ports. 
The former Iraqi Minister of Transport and the current deputy in the Iraqi parliament, Kazem Finjan Al-Hamami, indicates through a televised interview that political interference in the work of ports is present by the various political entities to control the higher positions and the management of Iraqi ports. 

Al-Hamami confirmed that the interventions come from the various Iraqi formations from north to south, and it is a theoretical picture of quotas, as these quotas are working to impose themselves, their group and their agendas on the positions and higher positions from the minister to the general managers, which fall within the quota system that may cause the entire future of Iraq to be lost .

Al-Hamami called for stopping political interference in the work of Iraqi ports and avoiding quotas, considering that the best option is to form a real technocratic government in Iraq.The ministerial portfolios are assumed and the prime minister works on that without the interference of political entities or seeking permission from them, and he is the one who bears his responsibility, warning that if the prime minister works according to the mood of the political blocs, he will give way to partisan interference that moves him away from the correct way to build the country. Basra Anmar Al-Safi said that the multiplicity of authorities in Iraqi ports is what affects the work and flow of goods entering Iraqi ports, indicating that this situation contradicts what is in place in various ports of the world where there is a single authority working to manage any port. 

For his part, sees the head of the Strategic Center in

 

https://www.thebaghdadpost.com/ar/Story/202447/البصرة-عاصمة-الفساد-في-العراق-واختبار-صعب-لحكومة-الكاظمي

[Mary B]

Al-Rafidain directs all its branches to start distributing employees' salaries tomorrow  

 10 hours ago

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Today, Tuesday, Al-Rafidain Bank directed all its branches in Baghdad and the governorates tomorrow, Wednesday, to start disbursing the salaries of employees for the month of September. .

The media office of the bank said in a statement, a copy of which was received, that “based on the directions of the Minister of Finance and with follow-up, management and supervision by the bank’s general manager, it was decided to start tomorrow, Wednesday, for the bank’s branches in the country, to distribute the salaries of employees for the month of September.”

The bank added, "The distribution will be both according to the order and timing specified for each department, after the arrival of financing and its financial allocation and raising its salaries without delay."

https://takadum-news.com/الرافدين-يوجه-فروعه-كافة-بالمباشرة-بت/

[Mary B]

07-10-2020 09:18 AM

The central bank adjusts the time limit for housing loans

 

 

Baghdad / Al-Akhbariya

The central bank decided, on Wednesday, to amend the time limit for housing loans.

The bank said in a statement, "In response to the economic conditions that our country is going through and in order to contribute to alleviating the burdens of borrowers in light of the current financial distress, the Central Bank of Iraq" decided to "amend the time limit set within its initiative to finance the housing fund and real estate bank loans (the Five Trillion Initiative). , So that the new time limit will be (15) years instead of (10) years, with a retroactive effect. "

The bank affirmed that it "continues to take all necessary measures to contribute to creating a banking system capable of responding to the challenges of the financial crisis and crossing the Iraqi economy to safety." 

https://www.ikhnews.com/index.php?page=article&id=228377

[Mary B]

07-10-2020 12:40 PM

Deputy: We will make tens of billions annually if we give outlets to a discreet global company

 

 

Baghdad / Al-Akhbariya

 On Wednesday, MP for the State of Law Coalition, Sadiq Mdallul, called on the government to end the corruption of border crossings by granting them to sober international companies, indicating that Iraq will earn tens of billions annually.

Mdloul said in a statement that "any global company, if the outlets invested, would increase the money ten times, and we would save tens of billions of dollars annually."

 He added, "The Minister of Finance will change the ministry’s joints a lot, and we are completely convinced that there is no reform paper by the government."

 He continued, "The story of salaries has become longer than the formation of the government and the Minister of Finance raised the ire of the street when he said there are no salaries, and then we were surprised that there were salaries and were released."

It is noteworthy that there is a parliamentary gathering now demanding that the Minister of Finance be questioned in order to question him in several files, most notably the salaries of employees and how the financial loans were disbursed.

https://www.ikhnews.com/index.php?page=article&id=228397

[Mary B]

MP: Millions' eyes are looking towards next Saturday's session

13:04 - 10/07/2020

 

  

The information / Baghdad
A member of the Parliamentary Legal Committee, Bahar Mahmoud, saw, on Wednesday, that the attention of millions in Iraq is heading towards a parliamentary session that will be held next Saturday to resolve the completion of the electoral districts file.
Mahmoud said in a statement to "the information", that "the appendix to the parliamentary election law has been completed for some time, and the legal committee is awaiting the consensus of political forces in order to put it to vote."
She added that "political differences over the mechanism of dividing the circles and the failure of the blocs to reach a compromise formula around it prevent the passage of the law."
Mahmoud pointed out that "there is a division between supporters and opponents of multiple constituencies, and there are those who wish to make the province a single electoral district, and there are those who want the province to have two electoral districts." Ended / 25 h

https://www.almaalomah.com/2020/10/07/498791/

[Mary B]

Disclosure of the date and rates of deduction of salaries for Kurdistan Region employees

 

Economy News _ Baghdad A member of the Kurdistan Regional Parliament, Sherzad Hassan, revealed the rates of deductions that the salaries of the Kurdistan region will witness, stressing that there is no specific date for the distribution of salaries of employees in the region. Hassan said, "It is assumed that after Baghdad completes the distribution of the salaries of its employees, it will send an amount of 320 billion dinars to be collected with the funds in the region, and it is distributed to the employees at a deduction rate as well." He added, "The Council of Ministers in the Kurdistan region reduced the deduction rate to 18% instead of 21%, and despite this, there is a difficulty in providing the amounts allocated to employees' salaries, which amount to about 890 billion dinars, while the region's revenues with the sums that Baghdad sends do not exceed the percentage 750 billion dinars. He pointed out that "the Kurdistan Regional Government is waiting to send the amount from Baghdad, and most likely, the middle of next week will witness the start of the distribution of salaries of employees in the region."

Number of observations 25   Date added 10/07/2020 https://economy-news.net/content.php?id=22156

[Mary B]

President Barham Salih and Ali Babir: The outstanding issues must be resolved through dialogue

by EditorIraq news2 Hours ago

The President of the Republic, Barham Salih, and the Emir of the Kurdistan Islamic Group, Ali Babir, stressed the need to enhance understanding and dialogue to resolve outstanding issues.

During a meeting that brought them together to discuss the latest developments in the political and security situations in Iraq and the Kurdistan region .. the two sides called for intensifying efforts and security coordination to combat ISIS terrorist cells that seek to disturb security and stability .. stressing the need to provide citizens with service and living requirements, especially salaries, and strive to not be affected by the issues. The controversy and the economic crisis, in a way that guarantees a decent life for all citizens.

https://altaghier.tv/2020/10/07/الرئيس-برهم-صالح-وعلي-بابير-يجب-حل-المس/

[Mary B]

The Central Bank of Iraq announces decisions in light of financial distress

 

 

Editing date: 10/7/2020 14:34 • 40 times read

Where is the News_Baghdad

The Central Bank of Iraq said today, Wednesday, a statement that the Tigris showed to a copy of it: “In response to the economic conditions that our country is going through, and in order to contribute to alleviating the burdens of borrowers in light of the current financial distress, the Central Bank of Iraq decided to amend the time limit set within its own initiative By financing the housing fund and real estate bank loans (the five trillion initiative), so that the new time limit will be (15) years instead of (10) years, with a retroactive effect. "


He stressed that "I will continue to take all necessary measures to contribute to creating a banking system capable of responding to the challenges of the financial crisis and crossing the Iraqi economy to safety."


It was also indicated that the bank announced on August 8, 2015, the launch of an initiative to support the banks of the agricultural, industrial and real estate sectors and the Housing Fund with loans amounting to five trillion dinars to revive the economic situation and financial liquidity.

http://www.alliraqnews.com/modules/news/article.php?storyid=101784

[horsesoldier]

Outstanding issues must be resolved through dialogue ... indeed, the last 16 years have proven most fruitful. 

 

 

[Mary B]

Al-Sulaiti Opens Fire On Al-Kazemi And Launches A Barrage Of Accusations Against Him

On October 7, 2020

The Independent / - Sri Jiyad / MP Sadiq Al-Sulaiti, the Prime Minister, deliberately delayed salaries for employees, promising him tampering with people's livelihoods and a dangerous indicator of using the people's strength and entitlement as a card for political pressure and making money by borrowing 

Al-Sulaiti said in a statement received by the Independent that the oil and non-oil imports for the month of September covered the salaries of employees, as we stated at the beginning of the crisis, and there is a shortage in the ministries ’operational budget, and the government could distribute salaries on time and commit to providing the economic reform paper and limiting borrowing to the narrowest limits and making it the last solution, not the first. .

Al-Sulaiti called on the Presidency of the House of Representatives to open an investigation with the Prime Minister and the Ministers of Finance and Planning regarding the issue of deliberate delaying salaries and their exploitation to push the state to borrow and lack clarity and expose the people and their declaration of the unavailability of salaries amounts to be disposed of days later.

 

https://www.mustaqila.com/السليطي-يفتح-النار-على-الكاظمي-ويشن-وا/

[Mary B]

08-10-2020 12:29 AM

Economist: border crossings imports are not less than 9 billion dollars annually

 

 

Baghdad / Al-Akhbariya:
The economic expert, Ali Al-Freiji, confirmed, on Wednesday, that the imports of the border crossings are not less than 9 billion dollars annually, indicating that the political forces are the ones who control these ports.
Al-Freiji said in a statement followed by "Al-Akhbariya" that "the struggle of the political blocs is interfering with the distribution of ministries' allocations in the budget."
He added, "The imports of the border crossings are not less than 9 billion dollars annually, but the political forces are the ones who control these ports."

 

https://www.ikhnews.com/index.php?page=article&id=228451

[Mary B]

Deputy for Al-Fateh: suspending salaries is unjustified in light of the existence of various revenues

09:00 - 08/10/2020

 

  

Information / Special ...

The deputy of the Al-Fateh Alliance, Fadel Jaber, confirmed that there is an unjustified suspension of the salaries of employees under the pretext of a financial crisis, pointing out that the government has various oil and non-oil revenues that can be relied upon to secure salaries.

Jaber said to "the information", "The House of Representatives presented what it said and voted on the borrowing law in order for the government to obtain 15 trillion dinars last June, at a time when the government should find solutions to the financial crisis during the period that followed the loan."

He added, "The government has oil revenues that exceed 3 billion dollars a month, which covers more than 4 trillion dinars, excluding non-oil revenues from outlets, taxes and other resources."

And that "the government is obligated to take measures that would provide the necessary sums to pay the salaries of employees instead of disrupting their disbursement and holding Parliament responsible for voting on the borrowing law." 25 n

https://www.almaalomah.com/2020/10/08/498895/

[Mary B]

THE CHAIRMAN OF THE BOARD OF TRUSTEES OF THE NETWORK MEETS THE NEW GOVERNOR OF THE CENTRAL BANK OF IRAQ

Wednesday, 7 October 2020 7:02 PM

 

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Baghdad / National News Center -
The Chairman of the Board of Trustees of the Iraqi Media Network, Jaafar Al-Lonan, met on Wednesday with the new Governor of the Central Bank, Mustafa Ghaleb Makhaif.

The necessity of coordination between the media network and the Central Bank in light of the difficult financial conditions, and the work to develop the banking sector in line with the economic challenges the country is going through, and to activate humanitarian, cultural and media initiatives, was emphasized.

The meeting was attended by the director of the office of the head of the network, Sabah Allal Zayer.

 

https://nnciraq.com/42391/