Iraqis are waiting for the value of the Iraqi dinar to rise after decades of collapse

[yota691]

French Press: The Iraqi currency is fluctuating due to US policies

• Today 16:27

Information / translation... 

A report by Agence France-Presse confirmed, on Sunday, that the Iraqi currency has been in a state of fluctuation and instability for more than two months due to the tightening of international financial transfer procedures, while some blamed Washington for the problems of the Iraqi dinar.  

The report, which was translated by the agency / information /, stated that "at a time when the exchange rate of the Iraqi dinar was fixed at 1470 dinars per dollar, the currency circulation rose to reach 1600 dinars per dollar in the local markets since mid-November last before it re-stabilized at 1570." dinars, according to Iraqi government sources. 

He added, "Although the depreciation of the Iraqi currency does not seem dramatic compared to other countries in the region, it has caused panic among the Iraqi population, who fear the high prices of imported commodities such as gas and flour." 

And he continued, "A number of Iraqi officials blamed Washington, while the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that" the main reason for the depreciation of the "currency value" is due to external restrictions. 

"Since mid-November, Iraqi banks have been forced to comply with certain standards in the international transfer system in order to access Iraq's $100 billion foreign reserves deposited with the US Federal Reserve," the report said. 

Economic expert Ahmed Tabaqjali said, "Participation in international cross-border money transfers requires compliance with global anti-money laundering provisions, anti-terrorist financing provisions, and sanctions provisions," noting that "the new regulations require high levels of disclosure and transparency, which shocked many of our banks." not used to it." 

According to the financial advisor to the Prime Minister, Mazhar Muhammad Salih, Iraqi banks must now register their dollar transfers on an electronic platform to review transfer requests, saying that "the US Federal Reserve examines the requests and if there are doubts, it stops the transfer."

Saleh pointed out that "since the adoption of the new mechanism last November, the US Federal Reserve has stopped about 80 percent of transfer requests to Iraqi banks due to allegations of doubts about the final destination of these transfers." 

The report indicated that "this led to a shortage of the dollar in the Iraqi market and consequently a decrease in the value of the dinar against the dollar, which raises fears of a decline in purchasing power among the Iraqis." End/ 25 zd

[yota691]

Sudanese advisor: The total public debt is estimated at $70 billion

 

money and business
   

Economy News - Baghdad
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Sunday, that the foreign reserves in Iraq are very high, while specifying the total public debt. 

 

In an interview with the official news agency, Salih said, "The country's internal public debt is currently estimated at about $50 billion, which is entirely owned by the government banking system (that is, debt within the government apparatus and not outside it)."

 

He added that "63% of the internal public debt is held by the Central Bank of Iraq and represents local assets in the structure of the central bank's balance sheet," noting that "the remainder of the internal debt is held by the three main government banks, with an annual interest of between 2-3%."

 

He pointed out that "the effective external debt that must be paid during the period from 2023 does not exceed 20 billion dollars, which means that the total public debt is estimated at about 70 billion dollars currently and constitutes only a percentage of 30% to 35% of the country's gross domestic product, which is a safe percentage." Very compared to the standard or international standard of 60%. 

 

He continued, "The efficiency of the country's foreign reserves is very high and covers external debt obligations by 5 times, which is a high and reassuring standard ratio and reflects the strength of Iraq's financial situation," noting that "the mechanism for repaying internal and external debts takes place through annual allocations approved in the federal budget." 

 

And he continued, "Fiscal policy in Iraq tends to adopt the principle of financial discipline, which is based on gradually reducing the total accumulated public debt, offset by narrowing the annual deficit in the federal general budget and making the debt created when necessary within the standard ratios, not exceeding the created public debt of 3% annually."

 

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Views 148

Added 01/15/2023 - 3:38 PM

Updated 01/15/2023 - 5:46 PM

[yota691]

What is the secret of the decline of the Iraqi dinar despite the increase in dollar reserves?

 

reports
   

Economy News-Baghdad
The exchange rate of the Iraqi dinar has been witnessing fluctuations against the dollar for about two months, despite the large jump in foreign exchange reserves, which is currently close to $100 billion, thanks to the rise in oil prices.

 

While parties in the country hold Washington responsible for this decline,

and while the official fixed exchange rate is 1470 dinars against one dollar, the price of the dinar in the market has declined since mid-November to 1600 dinars at the beginning of the week, before settling at about 1570, according to the official news agency, i.e. The Iraqi currency has lost about 10 percent of its value, and this decline is not considered huge, but it has begun to cause concern among Iraqis about the high prices of imported materials, such as gas and wheat, for example.

 

Adviser to the Prime Minister for Financial Affairs Mazhar Salih says, in a report to Agence France-Presse, that "the fundamental and fundamental reason" for this decline "is an external constraint,but some Iraqi politicians consider that the United States is behind this fluctuation.

 

 Contrary to rumors and misinformation, there is no evidence of American pressure on Iraq.” The important economic and commercial partner of neighboring Iran,

in fact, the fluctuation of the dinar is linked to the start of Iraq’s compliance with some standards of the international transfer system (Swift), which Iraqi banks must apply since mid-November to access To Iraq's reserves of dollars in the United States

In order for Iraq to be able to access those reserves, which amount to $100 billion, it must now comply with systems that “require compliance with the provisions of global anti-money laundering, provisions for combating the financing of terrorism, and those related to sanctions, such as those applied to Iran and Russia,” according to Tabakishli,

adding that the matter is related to entering Iraq is “within a global financial transfer system that requires a high degree of transparency,” but that “caused a shock” to many Iraqi banks “because they are not used to this system.”

 

Mazhar Salih explained that Iraqi banks should now register their “transfers (in dollars) on an electronic platform.” The requests are scrutinized...the US Federal Reserve checks them and if they have doubts they stop the transfer."

 

Since the implementation of the restrictions began, the Federal Reserve has refused "80 percent of requests" for remittances to Iraqi banks, according to Salih, due to doubts about the final destination of those amounts being transferred. He said

this refusal affected the dollar supply in the Iraqi market. On the other hand, the demand accumulated, but the supply was not consistent with it, and thus the exchange rate declined with the decline in bank transfers in dollars.

 

In the meantime, the Iraqi authorities have taken measures, including facilitating the financing of private sector trade in dollars through Iraqi banks, and opening outlets for selling foreign currency in government banks to the public for travel purposes.

 

The Council of Ministers also decided to "commit all government agencies to sell all goods and services inside Iraq in dinars and at the rate of the central bank, which amounts to (1470) dinars per dollar.

 

" Despite the

 

dinar's decline, the inflation rate is still small, reaching 5.3 at an annual rate in October 2022, according to the Ministry of Planning. However, actual concerns are related to the purchasing power of the population.

 

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Views 201

Added 01/15/2023 - 11:04 AM

Updated 01/15/2023 - 5:47 PM

[pokerplayer]

DOLLARS DRIED UP - DINARS WILL COMPENSATE

What is the secret of the decline of the Iraqi dinar despite the increase in dollar reserves?

reports

Economy News-Baghdad

The exchange rate of the Iraqi dinar has been witnessing fluctuations against the dollar for about two months, despite the large jump in foreign exchange reserves, which is currently close to $100 billion, thanks to the rise in oil prices

. While parties in the country hold Washington responsible for this decline, and while the official fixed exchange rate is 1470 dinars against one dollar, the price of the dinar in the market has declined since mid-November to 1600 dinars at the beginning of the week, before settling at about 1570, according to the official news agency, i.e. The Iraqi currency has lost about 10 percent of its value, and this decline is not considered huge, but it has begun to cause concern among Iraqis about the high prices of imported materials, such as gas and wheat, for example.

Adviser to the Prime Minister for Financial Affairs Mazhar Salih says, in a report to Agence France-Presse, that "the fundamental and fundamental reason" for this decline "is an external constraint," but some Iraqi politicians consider that the United States is behind this fluctuation. Contrary to rumors and misinformation, there is no evidence of US pressure on Iraq.” 

The important economic and trade partner of neighboring Iran, in fact, the fluctuation of the dinar is linked to the start of Iraq’s compliance with some standards of the international transfer system (SWIFT), which Iraqi banks must apply since mid-November to access To Iraq's reserves of dollars in the United States

In order for Iraq to be able to access those reserves, which amount to $100 billion, it must now comply with systems that “require compliance with the provisions of global anti-money laundering, provisions for combating the financing of terrorism, and those related to sanctions, such as those applied to Iran and Russia,”  

According to Tabakishli, adding that the matter is related to entering Iraq is “within a global financial transfer system that requires a high degree of transparency,” but this “caused a shock” to many Iraqi banks “because they are not used to this system.”

Mazhar Salih explained that Iraqi banks should now register their “transfers (in dollars) on an electronic platform.” The requests are scrutinized...the US Federal Reserve checks them and if they have doubts they stop the transfer."

Since the implementation of the restrictions began, the Federal Reserve has refused "80 percent of requests" for remittances to Iraqi banks, according to Salih, due to doubts about the final destination of those amounts being transferred. He said this refusal affected the dollar supply in the Iraqi market. On the other hand, the demand accumulated, but the supply was not consistent with it, and thus the exchange rate declined with the decline in bank transfers in dollars.

In the meantime, the Iraqi authorities have taken measures, including facilitating the financing of private sector trade in dollars through Iraqi banks, and opening outlets for selling foreign currency in government banks to the public for travel purposes.

The Council of Ministers also decided to "commit all government agencies to sell all goods and services inside Iraq in dinars and at the rate of the central bank, which amounts to (1470) dinars per dollar.

" Despite the dinar's decline, the inflation rate is still small, reaching 5.3 at an annual rate in October 2022, according to the Ministry of Planning. However, actual concerns are related to the purchasing power of the population.

[screwball]

8 hours ago, pokerplayer said:

However, actual concerns are related to the purchasing power of the population.

1:1 should do it just nicely!

[Bama Girl]

18 hours ago, pokerplayer said:

Mazhar Salih explained that Iraqi banks should now register their “transfers (in dollars) on an electronic platform.” The requests are scrutinized...the US Federal Reserve checks them and if they have doubts they stop the transfer."

Huge step in halting money laundering, counterfeiting, terrorist funding  imo. 

[Laid Back]

“The fluctuation of the dinar is linked to the start of Iraq’s compliance with some standards of the international transfer system (SWIFT), which Iraqi banks must apply since mid-November to access To Iraq's reserves of dollars in the United States”

 

CBI continues moving towards an open market economy.

 

International = Openness to the global economy 

 

Go CBI

Go new monetary policy 

Go international 

Go Stronger Dinar

[dinarham]

The buy/sell rate on Oanda  are the same , sell $1 , buy $1 .

[dinarham]

Trading 1 to 1 is a ridiculous endeavor ,so this may indicate no trade at all

[yota691]

The Iraqi government attributes the rapid rise in the dollar and commodities to two reasons and is reassured: my time will end

2023-01-19 04:52

 

 

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, described, on Thursday, the rise in the exchange of the dollar against the Iraqi dinar as a "temporary matter", at the same time, attributing the increase in the prices of materials and commodities in the local markets to "speculation and the greed of some traders".

Salih said in an interview with Shafaq News agency, "The electronic platform that the bank recently used to request dollars for foreign remittances came as a shock, but it is temporary because Iraq's hard currency reserves are very large, and it covers trade for more than 20 months, while the international standard is 3 months."

 

 

 

He continued by saying, "The controls regarding the currency auction came based on a popular demand, which is the question of where the money goes ?, which prompted the creation of this platform to find out whether the money really goes to trade and who is the final beneficiary? And do companies really fund Iraq with goods and services?" ?”

Saleh also expressed his surprise at "the ignition of commodity and material prices in this way," describing it as "a kind of greed because all stocks of commodities are imported at an official exchange rate."

He added that "any trader can transfer and buy goods by buying dollars from the Central Bank at the official rate, but what is noted is that the market is exploited, and there are people who speculate and do not care about anyone," noting that "dollar transfers are clean and not based on speculative.”

Saleh also asked that "commodity stocks are currently sufficient for 3-5 years, so why this increase in prices?"

Saleh stressed that "the state is strong and can intervene to provide goods and services, and it is one of the simple things it has, but merchants must take into account the people and the commercial center must not take advantage of the situation, because merchants are still buying dollars at the official price."

The dollar rose against the Iraqi dinar in the parallel markets, reaching more than 163 thousand dinars compared to 100 dollars, after these prices ranged between 147-148 thousand dinars before the establishment of the electronic platform.

[6ly410]

Mazhar Mohamed Saleh: There will be a platform to sell the dollar and determine its movement

Monday 23 , January 2023 22:58 |EconomicalViews: 133

Mazhar Mohamed Saleh: There will be a platform to sell the dollar and determine its movement (ninanews-com.translate.goog)

BAGHDAD (Reuters) - Prime Minister Mazhar Mohammed Saleh's financial adviser said there will be a platform to sell the dollar and limit its movement. Saleh said in a televised statement: "The exchange rate is variable and that international sensitivity stands behind the movement of the dollar and determines its prices, explaining that trade finance is one of the most important actors in determining the exchange rate of the dollar."

He continued: "What the prime minister has done is revolutionary in regulating commercial transactions."
He added, "We have about 20% money fleeing outside Iraq, explaining that linking small businesses with companies is wrong and correct to open credits."

[screwball]

2 hours ago, 6ly410 said:

Prime Minister Mazhar Mohammed Saleh's financial adviser said there will be a platform to sell the dollar and limit its movement. 

forex swift

[yota691]

Mazhar Muhammad Salih: 80% of foreign trade financing requests were rejected

 2023/01/25

 

Baghdad: morning

Yesterday, Tuesday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed that 80 percent of foreign trade financing requests in Iraq had been rejected . 

Saleh said, in a press statement: "The international controls set by the Federal Reserve Bank are a signal that occurs for the first time after the phenomenon of the economic blockade in the nineties of the last century, as the role of international compliance restrictions has become evident today through the "digital compliance platform."

The financial advisor to the government added, "These transactions linked foreign remittances in US dollars to foreign currency requests for private banks and merchants through the window of the Central Bank of Iraq, specifically "foreign remittances."

He explained that "this falls within a path that requires investigating the (ultimate beneficiary) of the funds transferred to him abroad and the details of imported goods and accurate commercial documents, i.e. "providing a high degree of governance in terms of accuracy of information and details of commercial data."

He noted that it was "something left by the Iraqi civil trade over the last twenty years to represent this high level of transparency," noting that "the reason for rejecting 80 percent of foreign trade financing requests for the private sector is the lack of integration of the required data and correct disclosure . " 

 

[6ly410]

Advisor to the Prime Minister puts forward two proposals to ensure the stability of the national market

Iraqi News Agency

Advisor to the Prime Minister puts forward two proposals to ensure the stability of the national market

•  21 minutes ago
•  

Baghdad - Nassar Al-Hajj
Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, put forward on Thursday two proposals to ensure the stability of the national market, while pointing out that small businesses need time to adapt to the new financing mechanism
Saleh told the Iraqi News Agency (INA): "The proceeds of small trades constitute about 70% of the total import units to the Iraqi market as they deal with very diverse specialized commercial paragraphs, and these trades were previously conducting their requests through parallel financing tasks undertaken by exchange companies and mediated by a large trader."
He added: "Therefore, the adaptation of small trade and its direct entry into the world of foreign trade at once is a matter that needs time to adapt to the use of new financing mechanisms based on the (facilitated) opening of documentary credits, which requires only the submission of the minimum documents, including freezing the import license and sufficiency with the identity of the Chamber of Commerce as a natural person instead of a commercial company as a legal person, which were previously imposed requirements, in addition to customs and tax collection facilities."
"Despite this, it is inevitable to enter the state as a major trader at the present time to help balance the market with goods supplied at the official exchange rate of 1,450 dinars per dollar, in addition to allowing cooperatives of all forms to enter the import trade as an additional pattern that helps the stability of the national market in general and the exchange market in particular," Saleh said.

[yota691]

Adviser to the Prime Minister presents two proposals to ensure the stability of the national market

 Economy

 

•  Today, 16:54

 

Today, Thursday, the advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, put forward two proposals to ensure the stability of the national market, while indicating that small businesses need time to adapt to the new financing mechanism .

 

Salih said to the Iraqi News Agency (INA): "The proceeds of small trades constitute about 70% of the total import units to the Iraqi market, as they deal with highly diversified specialized trade clauses, and these trades previously directed their requests through parallel financing tasks undertaken by exchange companies and mediated by a large trader." ".

He added, "Therefore, the adaptation of small trade and its direct entry into the world of foreign trade at once is an issue that needs time to adapt to the use of new financing mechanisms based on the (facilitated) opening of documentary credits, which requires only the submission of minimal documents, including freezing a license. Importing and being satisfied with the identity of the Chamber of Commerce as a natural person instead of a commercial company as a legal person, which are requirements that were previously imposed, in addition to the customs and tax collection facilities.

Saleh continued, "Nevertheless, it is inevitable for the state to enter as a large trader at the present time to help balance the market with the goods supplied at the official exchange rate of 1450 dinars per dollar, in addition to allowing cooperatives of all kinds to enter the import trade as an additional pattern that helps the stability of the national market in general and the exchange market in general." in particular.”

[yota691]

Mazhar Muhammad Salih presents two proposals to ensure the stability of the national market

2023.01.26 - 17:40

 

  

Baghdad - Nas  

On Thursday, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, presented two proposals to ensure the stability of the national market.  

  

  

  

Saleh said in a statement to the official agency, followed by "NAS", (January 26, 2023), that "the crops of small trades constitute about 70% of the total import units to the Iraqi market, as they deal with highly diversified specialized commercial clauses, and these trades were previously routing their requests through Parallel financing tasks are undertaken by exchange companies and mediated by a large trader.  

  

He added, "Therefore, the adaptation of small trade and its direct entry into the world of foreign trade at once is an issue that needs time to adapt to the use of new financing mechanisms based on the (facilitated) opening of documentary credits, which requires only the submission of minimal documents, including freezing a license. Importing and being satisfied with the identity of the Chamber of Commerce as a natural person instead of a commercial company as a legal person, which are requirements that were previously imposed, in addition to the customs and tax collection facilities.  

  

Saleh continued, "Nevertheless, it is inevitable for the state to enter as a large trader at the present time to help balance the market with the goods supplied at the official exchange rate of 1450 dinars per dollar, in addition to allowing cooperatives of all kinds to enter the import trade as an additional pattern that helps the stability of the national market in general and the exchange market in general." in particular.”  

[yota691]

Including a 'comprehensive solution'

Mazhar Muhammad Salih presents proposals to counter the continued rise in the exchange rate

2023.01.28 - 10:27

 

Baghdad - Nas  

On Saturday, the advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, presented proposals to counter the continued rise in the exchange rate, including a solution that he described as national and comprehensive to provide price stability.  

 

  

Saleh said, in a statement to the official agency, followed by "NAS", (January 28, 2023), that "as long as the exchange rate decline is linked to the ability to open up foreign trade and provide a highly flexible commodity supply when needed (through the financing tool represented by the Central Bank of Iraq's window for selling And the purchase of foreign currency - the US dollar in particular), which links the speed of financing with the credibility and transparency of commercial documents for importers from the private sector, which is still faltering by about 25-30% of the total actual demand for external transfer to finance trade.  

He added, "As long as government trade is highly governed and outside this constraint, as it relies on the mechanisms of documentary credits, which is the traditional basis for financing trade, and so that the commercial market can reorganize itself, its contracts and foreign purchases, and in order to contain fluctuations in the exchange rate within a narrow range, we suggest that trade expand." The government foreign ministry (as a wholesale trader) is currently in order to supply the market with the most important commodities that have a wide impact on people's lives, which flow according to the fixed official exchange rate of 1460 dinars to the dollar.  

And he continued: "We find in the state's intervention in the field of import trade a comprehensive national solution to provide price stability and provide an atmosphere of anti-competition (cartels) monopolizing trade, which sends negative signals towards stabilizing the exchange rate of the Iraqi dinar."  

He pointed out that "the government's commercial economy is the decisive solution and the lever of stability in two directions: the first is to provide a stable commodity supply and reassuring stocks of important commodities, especially essential commodities with low elasticity of demand for them, which affect the people's daily consumption, which helps to stabilize the consumer price index and the stability of the standard of living." And the second: the abundance of commodities supplied through government trade at the official exchange rate is considered a compensatory supply of foreign currency, and the demand for it is equal to what helps reduce the exchange rate gap (the central exchange rate versus the parallel exchange rate), and reduce the impact of these differences in exchange rates on inflationary expectations. in economics.”  

Saleh stressed, "The state's temporary intervention in the economy is the best solution until the commercial market adapts to the governance of its import operations from world markets and the discipline and transparency of its requests in front of external compliance institutions."  

[6ly410]

A new record... Iraq's hard currency reserves amount to $115 billion

https://economy-news.net/content.php?id=32184

money and business
   

Economy News-Baghdad
A member of the Board of Directors of the Central Bank, Mazhar Muhammad Salih, revealed that Iraq’s cash reserves had risen to 115 billion dollars.

Saleh said in a televised interview that "inflation has now risen due to the rise in the exchange rate of the dollar," stressing "activating the economic aspect of the strategic framework agreement with Washington and negotiating with the Federal Bank."

He added, "The Central Bank of Iraq will reorganize foreign trade," calling on "the US Federal Bank to give Iraq 6 months, because the dollar crisis, if it lasted for a long time, would pose a great danger."

He pointed out that "external remittances constitute 90% of the dollar demand and 10% of the internal demand for travel and hoarding," pointing out that "Iraqi banks have begun to adapt to the new situation in external transfer."

He warned that "Iraq's reserves of foreign currency amounted to 115 billion dollars, which is the largest in its history."

 

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Views 156

Added 01/31/2023 - 11:23 AM

Updated 01/31/2023 - 5:09 PM

[yota691]

The Memorandum of Understanding with France is covered by the provisions of the Money Recovery Act

Economical  2023/02/01

 

 

 Baghdad: morning 

 

Yesterday, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that Iraq is seeking full membership in the International Financial Action Organization, while clarifying the provisions of Article 14 of the Money Recovery Law.

 

Salih explained that “the first amendment to the Iraq Money Recovery Fund Law No. 7 of 2019 added an explicit provision contained in the provisions of Article 14 of it, indicating that the government is obligated when concluding investment or economic agreements with any country that has funds for Iraq covered by the provisions of this law to conclude agreements with those countries to recover the money ».

 

He added, "What the Prime Minister signed during his recent visit to France regarding money laundering crimes is based on the text of Article 14 of the law," noting that "Iraq is seeking full membership in the International Financial Action Organization, which is based in Paris and belongs to the Organization for Economic Cooperation and International Development concerned." In the field of international cooperation to combat money laundering activities, crime funds and terrorism.

 

He pointed out that “Iraq has been an active member since 2004 in the International Financial Action Organization for the Middle East and North Africa region through the active role of the Anti-Money Laundering and Terrorist Funds Office in the Central Bank of Iraq, which operates in accordance with Law No. 39 of 2015 and provides legal cover for international cooperation, in order to preserve On the funds of the Republic of Iraq, in addition to the active role played by the Supreme Council for Combating Money Laundering, which is approved by law in adopting controls and proposing the necessary regulations and legislation to protect public money.

 

Earlier, Prime Minister Muhammad Shia al-Sudani visited the French capital, Paris, which included the signing of a number of memorandums of understanding in combating corruption, recovering Iraqi funds, protecting antiquities, supporting scientific research, and training diplomats.

[6ly410]

Sudanese advisor: Central Bank measures will raise the value of the Iraqi dinar

Posted 50 seconds ago

 

Al-Sudani's advisor: Central Bank measures will raise the value of the Iraqi dinar - Iraq News (iraqakhbar-com.translate.goog)

 

News Source /Iraqi Media News Agency "INA"

 

Baghdad / ZN

Financial Adviser to Prime Minister Mazhar Mohammed Saleh said on Saturday that the Central Bank's actions reflected positively on the negotiations with the US Treasury, indicating that these measures will raise the value of the Iraqi dinar.

Saleh said that "the procedural package launched by the Central Bank of Iraq hours ago is a positive reflection of the success of the negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions imposed, by adopting international banking tools as transparent channels for the movement of funds, and in a more detailed way to conduct external transfers between Iraq and the world.”

And Saleh continued, in an interview with him (the Iraqi Information News Agency / ), that “the instructions issued indicate a systematic liberation of the external transfer from the restrictions, instructions and customs previously approved on the movements of the Iraqi balance of payments, which will raise the value of the Iraqi dinar rapidly.”

[6ly410]

Adviser to the Prime Minister: Central Bank actions will raise the value of the Iraqi dinar

 

money and business
   

Economy News-Baghdad
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the Central Bank's measures have reflected positively on negotiations with the US Treasury, indicating that these measures will raise the value of the Iraqi dinar.

Salih told the Iraqi News Agency, "The procedural package launched by the Central Bank of Iraq hours ago is a positive reflection of the success of negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions imposed, by adopting international banking tools as transparent channels for the transfer of funds, and in a more detailed way to conduct operations." External conversion between Iraq and the world.
He added, "The instructions issued indicate a systematic liberation of external transfers from the restrictions, instructions, and customs previously approved on the movements of the Iraqi balance of payments, which will rapidly raise the value of the Iraqi dinar."

https://economy-news.net/content.php?id=32265

 

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Views 136

Added 02/04/2023 - 10:59 AM

Updated 2023/02/04 - 4:11 PM

[6ly410]

Advisor to Al-Sudani on the measures of the Central Bank: will reduce the exchange rate against the dinar

 

Advisor to Al-Sudani on the measures of the Central Bank: will reduce the exchange rate against the dinar | Economy | Dijlah Satellite Channel

 

 - 04-02-2023 10:34 AM - Views: 5505

 

Financial adviser to Prime Minister Mazhar Mohammed Saleh said on Saturday that the Central Bank's actions reflected positively on negotiations with the US Treasury, indicating that these measures will raise the value of the Iraqi dinar.

Saleh said in a statement followed by "Dijla" that "the procedural package launched by the Central Bank of Iraq hours ago is a positive reflection of the success of the negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions imposed, by adopting international banking tools as transparent channels for the movement of funds, and in a more detailed way to conduct external transfers between Iraq and the world."

"The instructions issued indicate a systematic liberalization of external transfer from the restrictions, instructions and customs previously adopted on Iraqi balance of payments movements, which will rapidly raise the value of the Iraqi dinar," he said.

 

 

[6ly410]

Advisor to the Prime Minister Mazhar Mohammed Saleh: #البنك_المركزي measures will raise the value of the Iraqi dinar

[NEPatriotsFan1]

26 minutes ago, 6ly410 said:

will rapidly raise the value of the Iraqi dinar

Hopefully as rapidly as the Lebanese currency just in the opposite direction 

[6ly410]

Saleh: The Central Bank will adopt international banking tools in the transfer of funds

Saleh: The Central Bank will adopt international banking tools in the transfer of funds – Iraq News Network (aliraqnews.com)

Last Updated: 4 February 2023 - 5:09 PM

Baghdad / Iraq News Network - The financial adviser to Prime Minister Mazhar Mohammed Saleh, Saturday, that the actions of the Central Bank reflected positively on the negotiations with the US Treasury, indicating that these measures will raise the value of the Iraqi dinar.Saleh said, "The procedural package launched by the Central Bank of Iraq hours ago is a positive reflection of the success of the negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions imposed, by adopting international banking tools as transparent channels for the movement of funds, and in a more detailed manner. Saleh said in an interview with the official news agency, "The instructions issued indicate a systematic liberalization of external transfer from the restrictions, instructions and customs previously adopted on the movements of the Iraqi balance of payments, which will raise the value of the Iraqi dinar rapidly.