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The Central Bank: We are working on a new 20 thousand currency.


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Under the slogan 'The world is changing'

"Nas News" is one of the exclusive sponsors of the Al-Rafidain Forum 2022 in Baghdad

09.17.2022 - 19:09
"Nas News" is one of the exclusive sponsors of the Al-Rafidain Forum 2022 in Baghdad
 

Baghdad - people  

Nas News Agency, one of the (exclusive) media organizations, is sponsoring the Al-Rafidain Forum 2022, which will be held in Baghdad under the slogan "The World is Changing", in implementation of the media partnership agreement that was signed between the management of the Al-Rafidain Center for Dialogue RCD and the management of the agency (Nas News NAS).  

  

Nass News will be with you in a live broadcast, through its social platforms, to report the events of the forum over a period of four days, from Monday 26-29 September.   

  

  

The Al-Rafidain Forum 2022 - Baghdad, "The World is Changing", will be held in cooperation with major international and local strategic think tanks, to participate in the preparation of development programs, and to put files on the international situation, and developments in the Middle East, on the dialogue table.

  

 

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from thirty-three countries

110 politically, economically, socially and scientifically influential personalities will participate in the Al-Rafidain Forum

19.09.2022 - 08:14
110 politically, economically, socially and scientifically influential personalities will participate in the Al-Rafidain Forum
 

Baghdad - people  

The Al-Rafidain Forum 2022, under the title "The World is Changing", is scheduled to host influential and prominent personalities on the political, social and scientific levels, from 33 countries.  

  

 

  

According to the Chairman of the Board of Directors of Al-Rafidain Center for Dialogue Zaid Al-Talqani, 110 influential and prominent figures on the political, economic, social and scientific levels, from (33) countries in the east and west of the earth, will participate in the Al-Rafidain Forum RCDFORUM2022 Baghdad, "The world is changing."  

  

Al-Talqani added: "International personalities enrich the forum with their perceptions, dialogues and constructive ideas, which constitute a knowledge product that contributes to identifying ways to confront future challenges in Iraq and the world, in a world that is transforming in an unprecedented manner, torn by globalization, the pandemic and conflicts between major powers, as well as the repercussions of climate change."  

  

He stressed that "the matter requires serious pauses to re-evaluate and understand what could lead to matters and to propose policies to confront those challenges."  

  

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Prominent personalities and international attendance.. Rafidain Forum sessions schedule in Baghdad
 

  

Baghdad - people  

The Al-Rafidain Forum for Dialogue announced, on Sunday, the schedule and titles of the sessions, the names of the speakers, the panelists and the meetings of the forum, which will start next Tuesday.

  

 
 

The forum stated in a statement, of which "NAS" received a copy, (September 25, 2022), that "the forum sessions start from the day following the opening of the forum, Tuesday 27 until Thursday, September 29, at Al-Rasheed Hotel (Royal Tulip), and include the titles of the sessions and the names of the speakers and interlocutors. And private meetings: 12 sessions, 19 private meetings, and 6 workshops, from nine in the morning until nine in the evening over three days.  

  

The forum added that "the meetings will be with the participation of international and Iraqi political, religious, intellectual and economic figures that covered axes of international and national interest."  

 
 
 
 
 
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List of media organizations covering the events of the Al-Rafidain Forum in Baghdad
 

Baghdad - people   

The organizers of the annual Al-Rafidain Forum have announced a list of media organizations that cover the activities of the upcoming forum in Baghdad.   

 

  

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The Al-Rafidain Forum for Dialogue announced earlier, the schedule and titles of the sessions, the names of the speakers, the interlocutors and the meetings of the forum, which will start next Tuesday.  

  

The forum stated in a statement, of which "NAS" received a copy, (September 25, 2022), that "the forum sessions start from the day following the opening of the forum, Tuesday 27 until Thursday, September 29, at Al-Rasheed Hotel (Royal Tulip), and include the titles of the sessions and the names of the speakers and interlocutors. And private meetings: 12 sessions, 19 private meetings, and 6 workshops, from nine in the morning until nine in the evening over three days.   

  

  

  

The forum added that "the meetings will be with the participation of international and Iraqi political, religious, intellectual and economic figures that covered axes of international and national interest."   

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The Board of Supreme Audit: Corruption has transformed from an individual case to an integrated system in Iraq
 

Baghdad - people  

The Financial Supervision Bureau confirmed, on Monday, that it has completed the examination of the final accounts of the 2015 budget and is now busy examining the data of the final account for 2016 .  

  

 

  

  

In a statement during a workshop within the work of the Al-Rafidain Forum, which is held under the media sponsorship of several institutions, including the "Nas News" website, (September 26, 2022), the Deputy Chief of the Bureau, Abdul Karim Fares, said that "the Bureau did not receive the final accounts after 2016 from the Ministry of Finance until Now that's a bug."  

  

He explained that "the Bureau created the Investigation Department to investigate the cases entrusted to it by the House of Representatives within the context of the Court's law."  

  

Fares pointed out that "corruption in Iraq has shifted from an individual case to an integrated system, and our task is to stop financial waste and ensure the disbursement of funds in the designated legal aspects and the fight against corruption."  

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The Central Bank: We are working on a new 20 thousand currency

September 27, 2022

The Central Bank: We are working on a new 20 thousand . currency


Baghdad / Obelisk: The Iraqi Central Bank revealed, on Tuesday, September 27, 2022, a new denomination of the Iraqi currency.


The governor of the bank, Mustafa Ghaleb, said: “We are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and to match the neighboring countries.”


"We will start announcing the new category after completing its requirements," he added.


It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq, which are “250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars.”

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The Central Bank intends to issue a category of 20 thousand dinars of the Iraqi currency

9/27/2022

There is no intention of the Central Bank to reduce or change the exchange rate of the dollar, and Iraq is still in the early stages and to reap the positive effects of changing the exchange rate

 

1664270059fgghghfg.jpg

 

 
Erbil (Kurdistan 24) - The Central Bank of Iraq announced today, Tuesday, that it intends to issue a new banknote of 20 thousand dinars from the Iraqi currency, stressing that there is no intention at the Central Bank of Iraq to change the exchange rate of the dollar.


The Governor of the Central Bank of Iraq, Mustafa Mokhif Ghaleb, said in a speech at the Al-Rafidain Forum, "The Central Bank, within the currency chain, is working to complete a new category of 20 thousand dinars based on study and research compared with neighboring countries and is working to complete the form of the paper and during the coming days, an announcement will be made." .


The governor added, "The Central Bank has reduced the interest rate on loans provided to finance projects, and that the initiatives have largely targeted the housing sector, which occupies more than 30% in various sectors."


He pointed out that "there is no intention of the Central Bank to reduce or change the dollar exchange rate, and Iraq is still in the early stages and to reap the positive effects of changing the exchange rate, and there are some negative indicators that we are working to address during the coming period."


He continued, scary, saying, "There is a previous project submitted by the Central Bank regarding the process of deleting zeros, and this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions."


The Governor of the Central Bank is clear, “The Central Bank has a plan and strategy for five years and it may be delayed due to what it faces in several areas, and the Central Bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects.”


The governor added, "All sectors are affected by the general situation in the country, especially the banking sector, whether it is political or security, and despite that the banking sector had a role in moving the wheel of the economy, especially in the housing sector in particular," stressing that "the Central Bank took the initiative to develop the banking sector and strengthen relations." with Arab and international banks.

Edited by DWS112
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The Central Bank intends to issue a banknote of 20 thousand dinars
 

  

Baghdad - people  

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, revealed, on Tuesday, an intention to issue a banknote of 20 thousand dinars.  

  

  

  

In an interview during the "Al-Rafidain Forum for Dialogue", which was attended by the correspondent of "NAS" (September 27, 2022), he said that "we have a prepared strategy ready for a period of five years, and implementation may be delayed due to the challenges facing the country," explaining that "the Central Bank canceled the interest within A great development initiative for all sectors.  

  

He added that "the central bank plays a role in moving the wheel of the economy, and our initiative has moved projects and provided job opportunities, especially in the housing sector," noting that "the housing sector occupies 30 elements in different sectors, and we will continue to take the initiative in order to advance the economy."  

  

He pointed out that "the digital currency is under discussion by central banks, and we have a specialized team studying the mechanism of issuing this currency, and so far we do not have a direction or vision to issue a digital currency."  

  

He pointed out that "we have a project on zeros, but it needs to pass a law, and this project requires amendments, and it needs an appropriate political atmosphere in the House of Representatives," stressing that "deleting zeros affects the trade balance."  

  

And he indicated that "we are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and match the neighboring countries, and we will start announcing it after completing their requirements," noting that "there is no intention to reduce or change the dollar exchange rate."  

  

Concerning the bank’s branches, he said: “We have a branch in Basra that covers the southern region, and in Mosul to cover the north, and we have a branch in Erbil, and we got a plot of land to set up a branch in Najaf, but we need a second land to build safes and annexes, and we will start completing the procedures for establishing this branch to cover the middle Euphrates.” .  

  

"We have obtained the second land in Najaf, which is located within the government complex, and it will revive the economic movement in the middle Euphrates," he added.  

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1 hour ago, DWS112 said:

The Central Bank intends to issue a category of 20 thousand dinars of the Iraqi currency

9/27/2022

There is no intention of the Central Bank to reduce or change the exchange rate of the dollar, and Iraq is still in the early stages and to reap the positive effects of changing the exchange rate

 

1664270059fgghghfg.jpg

 

 
Erbil (Kurdistan 24) - The Central Bank of Iraq announced today, Tuesday, that it intends to issue a new banknote of 20 thousand dinars from the Iraqi currency, stressing that there is no intention at the Central Bank of Iraq to change the exchange rate of the dollar.


The Governor of the Central Bank of Iraq, Mustafa Mokhif Ghaleb, said in a speech at the Al-Rafidain Forum, "The Central Bank, within the currency chain, is working to complete a new category of 20 thousand dinars based on study and research compared with neighboring countries and is working to complete the form of the paper and during the coming days, an announcement will be made." .


The governor added, "The Central Bank has reduced the interest rate on loans provided to finance projects, and that the initiatives have largely targeted the housing sector, which occupies more than 30% in various sectors."


He pointed out that "there is no intention of the Central Bank to reduce or change the dollar exchange rate, and Iraq is still in the early stages and to reap the positive effects of changing the exchange rate, and there are some negative indicators that we are working to address during the coming period."


He continued, scary, saying, "There is a previous project submitted by the Central Bank regarding the process of deleting zeros, and this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions."


The Governor of the Central Bank is clear, “The Central Bank has a plan and strategy for five years and it may be delayed due to what it faces in several areas, and the Central Bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects.”


The governor added, "All sectors are affected by the general situation in the country, especially the banking sector, whether it is political or security, and despite that the banking sector had a role in moving the wheel of the economy, especially in the housing sector in particular," stressing that "the Central Bank took the initiative to develop the banking sector and strengthen relations." with Arab and international banks.

Bullshit and typical what’s interesting is talk about delete zeros. We must be real close

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6 minutes ago, yota691 said:

the digital currency is under discussion by central banks, and we have a specialized team studying the mechanism of issuing this currency, and so far we do not have a direction or vision to issue a digital currency."  

This will be forced upon them. Digital currency is part of the gold back system and settlement 

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7 minutes ago, yota691 said:

we have a project on zeros, but it needs to pass a law, and this project requires amendments, and it needs an appropriate political atmosphere in the House of Representatives," stressing that "deleting zeros affects the trade balance."  

Bullshit….they need to remove them as part of the IMF requirements, this will create the fiscal space needed to rebuild and pay ills. As for the approval to remove the zeros the reset is imminent and will come off it was part of the plan to return its value to their former rate as per the planning for the new currency and transitional government. I would post a screen shot but two big  to post.

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'I did not discuss the Sovereignty Alliance'

Al-Halbousi on the decision to resign: I decided to do so without deliberating with anyone (video)

2022.09.26 - 17:57
Al-Halbousi on the decision to resign: I decided to do so without deliberating with anyone (video)
 

Baghdad - people   

Parliament Speaker Muhammad Al-Halbousi said, on Monday, that the decision to submit the resignation was taken by me alone, and I did not discuss it with anyone.   

  

 

  

Al-Halbousi said in an interview with his colleague Ghazwan Jassem within the activities of the Al-Rafidain Forum for Dialogue sponsored by "Nass" (September 26, 2022), that "the parliament session was supposed to be held on the 20th of this month, and the Prime Minister suggested that it be postponed," noting that "Al-Kazemi requested Postponing the parliament session for fear of any emergency.  

  

He added, "I did not discuss my resignation decision with the leaders of the blocs, nor did I discuss the Sovereignty Alliance in my decision to resign from the parliament presidency."  

  

And he continued, "I will not impose my presence on my political partners in Parliament, and the request to resign does not obstruct the parliament session next Wednesday," noting that "the acceptance of my resignation or not depends on the conviction of the members of the House of Representatives, and the new representatives have the right to choose the new president of the Council."  

  

He explained, "My resignation from the presidency of the parliament has nothing to do with the Triple Alliance, as the Triple Alliance ended with the resignation of the Sadrist bloc, and one of the reasons for submitting my resignation is the principle of opening the way for the political views of others."  

  

Al-Halbousi stressed, “Demonstration is a constitutionally guaranteed right, and there is no problem with demonstrators entering the parliament building and disrupting it because the demonstrations are a right guaranteed by the constitution, and the House of Representatives has no authority to issue the arrest of anyone in connection with the storming of the parliament building, just as Parliament has no authority to hold anyone accountable when demonstrators besiege a building. Supreme Judicial Council".  

  

Al-Halbousi stated, "Early elections without agreement on basic points will have no value, and we must make a great effort for reconciliation between political forces and resolution of differences. We must also be aware that these positions and positions are a mandate and not an honor, and the ceilings must be reduced. to reach an understanding.  

  

He stressed the need to "resolve the agreement on the most numerous parliamentary bloc before going to early elections," explaining that "the current differences are not the result of the moment, but rather accumulations fueled by many joints."  

  

Al-Halbousi said, "There is no truth to the issue of my practice of dictatorship and the exploitation of my position in the parliament."  

  

He added, "The talk about splitting the Shiite ranks by the Sunnis is incorrect and misleading, and that the Sadrist movement used to call us frame lawyers," noting that "the Kurdish parties succeeded in overcoming nationalism over the sect, and that the name of the State Administration Alliance came to bear the politicians' responsibilities."  

  

  

  

On Monday, the Rapporteur of the House of Representatives, Baida Khader Al-Salman, announced her position on the resignation of Parliament Speaker Muhammad Al-Halbousi.  

  

Al-Salman said in a tweet, which was seen by "Nass" (September 26, 2022), "We will not accept the resignation of Parliament Speaker Muhammad al-Halbousi, and we are committed to it."    


  

On Monday, Sovereignty Alliance MP Yahya al-Muhammadi announced that he had not voted in the parliament session on Wednesday for the resignation of Parliament Speaker Muhammad al-Halbousi.  

  

Al-Mohammadi said in a tweet, which was seen by "Nass" (September 26, 2022), that "because of his political ability, his field mobility, and his prominent role in the wheel of reconstruction, we will not vote on the resignation of President Muhammad al-Halbousi."      

  

On Monday, a number of members of the House of Representatives announced their position on voting for the resignation of Parliament Speaker Muhammad al-Halbousi.  

  

"President Al-Halbousi is an important part of the political process through his public and parliamentary weight, and he is a cornerstone of the country's stability," said parliament member Burhan Al-Maamouri in a post followed by "Nass" (September 26, 2022).        

  

He added, "As an MP, I will not vote for the president's resignation."        

  

To that, Representative Hussein Arab expressed his position on the resignation of Parliament Speaker Muhammad al-Halbousi.        

  

"We will not vote for Al-Halbousi's resignation," Arabs said in a brief blog post followed by "Nass."        

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For his part, MP Salah Zaini announced his refusal to vote on Al-Halbousi's resignation, saying in a blog post followed by "Nass", "I will not vote for Al-Halbousi's resignation."        

  

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On Monday, the House of Representatives set the date for the fourth session and its agenda, which includes voting on the resignation of Parliament Speaker Muhammad al-Halbousi from his post.  

  

The agenda of the session scheduled for Wednesday, (September 28, 2022), included voting on the Speaker's resignation from his post, and electing the first deputy speaker of the House of Representatives.       

  

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32 minutes ago, yota691 said:

 

 

He pointed out that "we have a project on zeros

  

And he indicated that "we are working on a new currency, a category of 20 thousand dinars

Why would they intend to issue a new currency of IQD 20,000 while they have a project on deleting zeros? By the way, it costs a fortune to print a new currency , doesn't it. Hmm something must be brewing behind this conflicting stories.

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Parliamentary Finance talks about the situation of salaries in light of low oil prices
 

Baghdad - people  

The drop in oil prices during the current period has raised concerns about securing government salaries in the future, in light of the government formation crisis that prevented the approval of the fiscal budget law for the current year.  

  

  

  

In the last economic indicator, oil prices fell after rising in trading at $85 a barrel, which will damage the budgets of OPEC member countries.  


A member of the Finance Committee, Jamal Kougar, said in a statement to the official newspaper, followed by “Nass” (September 27, 2022), that “oil prices fell a while ago to below $40 and the employees were not affected,” wondering, “Why are there fears because of the price drop to $80 a barrel? ".  

  

He explained that "the salaries of the employees are fully insured and acted according to the 1/12 principle, in the event the budget is not approved," describing "expectations of the country's collapse due to the non-formation of the government as unrealistic and unacceptable."  

  

He continued, "The Food Security Law held the government responsible for providing the job contract for a period of three years, and it falls on the shoulders of the Ministries of Finance and Planning, which will be concerned with preparing the instructions for the law," noting that "Parliament legislated this law and it was not challenged by the Federal Court, which means There is a possibility of enacting other laws similar to it.”  

  

Earlier, Parliament Speaker Muhammad al-Halbousi confirmed that next year it is not possible to spend according to the 1/12 rule, even for employee salaries.  

  

Al-Halbousi added, during his participation in the Al-Rafidain Forum and followed by "Nass" (September 26, 2022), that "spending according to this rule cannot continue next year, due to the lack of a legal outlet for it, which was approved by the Financial Management Law."    

  

And he stated, "The government is not able to pay the employees' salaries, except through a deliberate violation."   

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The central bank reveals a new denomination of the currency and is working on issuing a digital one
  
{Economic: Al Furat News} The naked central bank revealed a new denomination of the Iraqi currency.

In his speech during the Al-Rafidain Forum for Dialogue, the Governor of the Bank, Mustafa Ghaleb, said: "We are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and to match the neighboring countries."
"We will start announcing the new category after completing its requirements," he added.  

He stressed that "there is no intention to reduce or change the exchange rate of the dollar against the Iraqi dinar."

Ghalib revealed that "the Central Bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world," adding, "But so far, there is no specific orientation, dates and controls for issuing digital currency in the country, and we are working during the coming period on these controls to keep pace with the countries of the region and reduce the practice of dealing." cash by issuing this digital currency.”

Ghaleb pointed out that "deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and requires legislation," stressing that "the atmosphere must be provided to accept such transactions."
And he said, "We reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank, and we worked to implement international standards to combat money laundering."

He explained that "Iraq's exit from the European Union's list of high-risk countries gives support to the movement of the economy and the financial and banking sector."

It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).

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image.gif

The Iraqi Central Building in Baghdad (Getty)
 

Today, Tuesday, the Central Bank of Iraq announced its intention to issue a new category of Iraqi currency worth 20 thousand dinars (about 15 dollars), stressing that there is no intention to change the exchange rate of the dollar, after days of widespread controversy over the possibility of the next government returning the dollar exchange rate. Against the Iraqi dinar until before 2020, when it was set at 1200 dinars per dollar.

The Governor of the Central Bank, Mustafa Mikhaif, said, during an interview with the "Al-Rafidain Dialogue Forum", hosted by the capital, Baghdad, that "the Central Bank has no intention to reduce or change the exchange rate of the dollar. Iraq is still in the early stages of reaping the positive effects of the change in the exchange rate, and there Some negative indicators are being addressed in the coming period."

 

He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros."

He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects , and that the initiatives largely targeted the housing sector, which occupies more than 30% of the various other sectors.” 

Banking plan

He explained that "the central bank has a plan and strategy for five years, and implementation may be delayed due to what the country is facing in several areas," noting that "the central bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."

He pointed out that "there are several measures taken in the field of the private banking sector, and they can be classified into three categories: very good banks that have good relations and transactions, and there are good banks, and emerging banks," stressing that "there was a previous decision to convert banking companies into banks, and this affected the banks".

 

He continued, "All sectors are affected by the general situation in the country, especially the banking sector, whether it is political or security, and despite that the banking sector had a role in moving the wheel of the economy, especially in the housing sector," stressing that "the Central Bank took the initiative to develop the banking sector and strengthen relations." with Arab and international banks.

Pressure to change the exchange rate

Weeks ago, political forces in Iraq renewed their call to change the exchange rate of the dinar against the dollar, by returning the old value to it before December 2020, which amounted to 1200 dinars per dollar, instead of the current value of 1458 dinars per dollar.

The government of Iraqi Prime Minister Mustafa Al-Kazemi was forced to take a number of urgent measures to confront the financial crisis during the Corona pandemic and the decline in oil prices, which threatened the government with an inability to pay the monthly dues and salaries of employees and retirees, amounting to about 6 billion dollars per month, including reducing the value of the Iraqi dinar against the dollar by about 30 percent so that the government can benefit from the foreign currency difference on the sale of oil.

 

And a member of the Iraqi parliament, Ahmed Al-Rubaie, revealed earlier to Al-Araby Al-Jadeed, the existence of what he described as “a broad movement of political forces towards changing the exchange rate by raising the value of the Iraqi dinar and reducing the price of the dollar and returning it to what it was or close to the previous figure.” In order for citizens to feel the positive impact of this, and to ease the burdens of high prices resulting from the crises and wars that a number of countries are witnessing.

Al-Rubaie indicated that the financial abundance resulting from the rise in the price of oil globally and the increase in production and export quantities in Iraq should reflect positively on society, expecting that this movement will yield remarkable results after putting pressure on the Ministry of Finance and the Central Bank of Iraq.

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The Central Bank of Iraq intends to issue a new category worth 20 thousand dinars

The Central Bank of Iraq intends to issue a new category worth 20 thousand dinars
Central Bank of Iraq
 

Mubasher: The Central Bank of Iraq announced, today, Tuesday, its intention to issue a new denomination of the Iraqi currency, worth 20 thousand, while confirming that there is no intention of the Central Bank to change the exchange rate of the dollar.

 

The Central Bank Governor, Mustafa Mokhif, said, according to the Iraqi News Agency, that "the Central Bank has no intention to reduce or change the dollar exchange rate."

The central stressed that "Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some negative indicators that it is working to address during the coming period."

He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros."

He pointed out that "the Central Bank is working to complete a new category of 20 thousand dinars based on a study and comparative research with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced."

He noted that "the Central Bank has reduced the interest rate on loans provided to finance projects, and that the initiatives have largely targeted the housing sector, which occupies more than 30% in various sectors."

He explained that "the central bank has a plan and strategy for five years, and it may be delayed because of what it is facing in several areas."

He also pointed out that "the Central Bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."

He noted that "there are several measures taken in the field of the private banking sector, and they can be classified into three categories, very good banks that have good relations and transactions, and there are good banks, and emerging banks."

The Central stressed that "there was a previous decision to convert banking companies to banks, and this affected the banks."

He added that "all sectors are affected by the general situation in the country, especially the banking sector, whether it is political or security, and despite that the banking sector had a role in moving the wheel of the economy, especially in the housing sector in particular."

He also stressed that "the Central Bank took the initiative to develop the banking sector and strengthen relations with Arab and international banks."

And he indicated that "the Central Bank has distinguished relations with the World Bank and the IMF, and it has a strategy, and there is communication with the International Monetary Fund, and Iraq's openness with them is very important despite the challenges facing the country."

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calendar.png 2022/09/27
 
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Baghdad / Al-Mawrid News

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, confirmed today, Tuesday, that deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and needs to be enacted by law, while stressing that there is no intention to reduce or change the dollar exchange rate.

The Governor of the Central Bank said at the Al-Rafidain Forum that “deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and requires legislation,” noting that “the atmosphere must be created to accept such transactions by the Central Bank within the currency chain, and we are working to complete a new category 20 thousand.” Dinar".

He added that "the bank reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank."

He continued, "We have worked to implement international standards to combat money laundering, and that Iraq's exit from the European Union's list of high-risk countries gives support to the movement of the economy and the financial and banking sector."

Makheif stressed that "the bank has no intention of decreasing or changing the dollar exchange rate."

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 2022-09-27 03:30
 

Shafaq News/ The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, said on Tuesday that the bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world, stressing that deleting zeros from the local currency requires a calm economic atmosphere for that.

Makheif said during his hosting at the Al-Rafidain Forum for Dialogue, that "until now, there is no specific direction, dates, and controls for issuing digital currency in the country," adding, "But during the coming period we are working on these controls to keep pace with the countries of the region and reduce the practice of dealing with cash through the issuance of this digital currency." ".

And about deleting zeros from the local Iraqi currency, the central bank governor said, "The process of deleting zeros requires the issuance of a law, and a draft law in this area has been prepared by the central bank and submitted to the previous government."

He explained that this law needs amendments, stressing that the issuance of this law requires an atmosphere because the deletion of zeros is directly related to the economy and to market prices in the country.

 

With regard to the issuance of the Central Bank a new category of local currency, he said, “We are working to issue a new currency, a category of 20 thousand dinars, in order to keep pace with the requirements and to match the neighboring countries,” adding that “we will start announcing the new category after completing its requirements.”

With regard to the exchange rate of the dollar against the Iraqi dinar, the governor of the Central Bank confirmed that "there is no intention to reduce or change the dollar exchange rate."

 

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Today, Tuesday, the Governor of the Central Bank, Mustafa Ghaleb, confirmed work to complete a new category of 20 thousand dinars.

Ghaleb said during his participation in the Al-Rafidain Forum, that "deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and needs to legislate a law," noting that "the atmosphere must be provided to accept such transactions."

He added that "the central bank within the currency chain is working to complete a new category of 20 thousand dinars," noting that "the bank has reduced the interest rate on loans provided to finance projects in its initiatives."

He pointed out that "the bank worked to implement international standards to combat money laundering," stressing that "Iraq's exit from the European Union's list of high-risk countries gives support to the movement of the economy and the financial and banking sector."

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The Central Bank: We are working on a new 20 thousand . currency

September 27, 2022

Baghdad / Obelisk: The Iraqi Central Bank revealed, on Tuesday, September 27, 2022, a new denomination of the Iraqi currency.

The governor of the bank, Mustafa Ghaleb, said: “We are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and to match the neighboring countries.”

"We will start announcing the new category after completing its requirements," he added.

It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq, which are “250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars.”

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