The Central Bank launches the 3 trillion dinars initiative to buy apartments and homes for non-employees

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Iraq news now

Central Bank Governor: Changing the exchange Central Bank Governor: Changing the exchange rate came to pay salaries on

https://iraqakhbar.com/2816018

News source / Baghdad today

https://iraqakhbar.com/2816018

 

Baghdad Today - Baghdad

Central Bank Governor Mustafa Ghaleb confirmed today, Sunday, that the raising of the dollar exchange rate came at a request from the Ministry of Finance, while he revealed the launch of an initiative to buy apartments and houses for non-employees.

“The Corona crisis has affected the economies of countries, including Iraq,” Ghaleb said in a televised interview that “Corona’s crisis has affected, during the past two months, several meetings with the government and the legislative authority regarding the budget items.”

He added, "The Ministry of Finance requested by an official letter to increase the dollar exchange rate to 1450 dinars, stressing that the oil revenues are deposited in the account of the Ministry of Finance at the Central Bank."

He pointed out that "the vulnerable social classes will be affected by the high exchange rate of the dollar, indicating that the pricing of the dollar 1450 dinars came after long discussions."

He pointed out that "the appointments during the period of the demonstrations imposed an increase in the exchange of salaries, noting that the World Bank demanded in 2014 to raise the price of the dollar to 1500 dinars."

He explained, "The Ministry of Finance will double the sums granted to social care in the 2021 budget, and has promised serious work to automate the work of customs," stressing that "there will be an electronic link between customs, tax and the currency sale window."

He pointed out that "the cheap exchange rate of the dollar in Iraq has led to the polarization of neighboring countries."

He stressed that "the Central Bank launched the initiative of 3 trillion dinars for non-employees," noting that "the initiative includes loans that do not need a guarantor and will reach 150 million dinars to buy apartments or houses."

He continued, "The initiative will enhance the movement of the labor market."

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The Central Bank launches the 3 trillion dinars initiative to buy apartments and homes for non-employees

 

Central Bank of Iraq building

https://economy-news.net/content.php?id=23237

Economy News - Baghdad Central Bank Governor Mustafa Ghaleb announced the launch of an initiative to buy apartments and houses for non-employees, while noting that the increase in the dollar exchange rate came at the request of the Ministry of Finance. "The Corona crisis has affected the economies of countries, including Iraq," Ghalib said in an interview conducted by state television and seen by "Al-Iktissad News", pointing out that "the Central Bank has, during the past two months, held several meetings with the government and the legislative authority regarding the budget items." He added: "The Ministry of Finance requested by an official letter to increase the exchange rate of the dollar to 1450 dinars," stressing that "the oil revenues are deposited into the account of the Ministry of Finance at the Central Bank." He pointed out that "the vulnerable social classes will be affected by the high exchange rate of the dollar," noting that "the appointments during the period of the demonstrations imposed an increase in the exchange of salaries." He explained that "the Ministry of Finance will double the sums granted to social care in the 2021 budget," stressing that "there will be an electronic link between customs, tax and the currency sale window." He pointed out that "the cheap exchange rate of the dollar in Iraq has led to the attraction of neighboring countries." The governor emphasized that "the central bank launched an initiative of 3 trillion dinars for non-employees," indicating that "the initiative includes loans that do not require a guarantor and will reach 150 million dinars to buy apartments or houses."

Number of observations 62   Date of addendum 12/21/2020

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The Central Bank of Iraq: The previous dollar exchange rate is very cheap

 

Central Bank Governor, Mustafa Ghalib

Banks Economy News - Baghdad The Governor of the Central Bank, Mustafa Ghaleb Makhif, said that the exchange rate of the dollar in Iraq is very cheap, and that the attraction of neighboring countries and our inability to compete with their products has contributed. He added, in an interview with Al-Iraqiya TV and Al-Iktissad News, that the local product cannot compete with the foreign product because of the previous dollar exchange rate. He stressed that the Central Bank launched a 3 trillion dinars initiative, targeting non-employees, by granting loans at 1% interest, noting that the loans are to support housing and job opportunities. The governor pointed out that the dollar will not rise and will remain within the specified levels. He noted that the number of banks operating in Iraq is 78, and three others are under establishment, noting that money transfer companies have transferred to Islamic banks.

Number of observations 704   Date of addendum 12/20/2020