Official: CBI News 10/05/2023

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Clarification from the Central Bank of Iraq

 

  

October 05, 2023

 

The Director General of the Department of Foreign Investments and Transfers, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, saying that they included press formulations that the agency reported in an inaccurate form. Ahmed confirmed: 

1. The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

2. There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to Reducing the difference.

3. The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

4. The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.

 

Central Bank of Iraq

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The Central Bank of Iraq issues a clarification regarding dollar deposits

• Time: 10/05/2023 16:12:05
•  
• Read: 195 times

  

The Director General of the Department of Investments and Foreign Remittances, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, that they included press formulations reported by the agency in an inaccurate form. Ahmed confirmed:

 

1. The Central Bank guarantees dollar deposits and for the citizen who deposited his money in dollars with any bank. An Iraqi formerly or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

2. There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to Reducing the difference.

3. The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

4. The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee business sustainability and does not include in any way citizens’ balances in US dollars.

 

 

Central Bank of Iraq

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Central Bank: The dollar will not reach 170 thousand dinars. We have stopped external transfers only

 

 16:23

 

Clarification from the Central Bank of Iraq

The Director General of the Department of Investments and Foreign Transfers, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, saying that they included press formulations that were reported by the agency in an inaccurate form. Ahmed confirmed:

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1. The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by 2024 has an inherent right to receive these amounts in cash and in US dollars.

 

2. It was not mentioned in the press interview that there are expectations that the exchange rate will reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to Reducing the difference.

 

3. The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

 

4. The announcement that the date of 1-1-2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to specific arrangements that guarantee business sustainability and does not include in any way citizens’ balances in US dollars.

 

Central Bank of Iraq

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The Central Bank of Iraq organizes a workshop on women and their role in society

 

  

October 05, 2023

 

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The Women's Empowerment Committee at the Central Bank of Iraq organized a workshop on Iraqi women, their role in society, and ways to empower them economically.  

The workshop, in which academic Wafa Jaafar al-Mahdawi lectured before a group of Central Bank of Iraq employees, discussed the importance of women in Iraqi society and their effective role in building generations. It also discussed the difficulties, challenges, and risks that Iraqi women suffer from.

It is noteworthy that the Women’s Empowerment Committee at the Central Bank of Iraq, which was chaired by the Assistant Director of Information Technology and Payments, Bidda Shaker Mahmoud, had active participation in many social and economic activities within Iraqi society, including facilitating soft loans for women, breadwinners, widows, and survivors of conflict, with the aim of supporting them economically and developing an environment Conducive to women in society by targeting and supporting the most needy groups of women, as well as supporting small and medium enterprises that work to employ women and widows within the Humanitarian Community Initiative of the Central Bank of Iraq and removing obstacles that hinder women’s participation in the economic fields.

 

Central Bank of Iraq
Information Office
5 - October - 2023

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Clarification from the Central Bank of Iraq regarding dollar deposits

 

money and business
   

Economy News - Baghdad

Clarification from the Central Bank of Iraq:

The Director General of the Department of Investments and Foreign Remittances, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, that they included press formulations reported by the agency in an inaccurate form. Ahmed confirmed:

 

1. The Central Bank guarantees dollar deposits and for the citizen who deposited his money in dollars with any bank. An Iraqi formerly or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

2. There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to Reducing the difference.

3. The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

4. The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee business sustainability and does not include in any way citizens’ balances in US dollars.

 

Central Bank of Iraq

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Views 65

Added 10/05/2023 - 4:15 PM

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The Iraqi Central Bank clarifies expectations that the exchange rate will reach 170 thousand dinars

Economy/Localities |Today, 16:21 |

    

 

 

 

Baghdad today -  

Clarification from the Central Bank of Iraq

 

The Director General of the Department of Foreign Investments and Transfers, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, saying that they included press formulations that the agency reported in an inaccurate form. Ahmed confirmed: 

 

1. The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.

 

2. There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to Reducing the difference.

 

3. The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.

 

4. The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.

 

He follows ..

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Specialist: The Central Bank has taken an additional decision that will worsen the exchange rate in the market

Economy |Today, 17:15 |

    

 

 

 

Baghdad today - Baghdad

An economic expert confirmed today, Sunday (October 8, 2023), that the decisions of the Central Bank of Iraq, especially preventing the delivery of citizens’ transfers in dollars, will exacerbate the rise in exchange rates.

 

Economic affairs expert Nasser Al-Kinani told Baghdad Al-Youm, “The Central Bank’s decisions regarding confronting the dollar crisis are all patchwork and not real solutions, and these decisions for nearly a year have not resolved the crisis that is worsening day after day.”

 

He stated that "some of the Central Bank's decisions contributed to the issue of the dollar crisis, especially when allowing some banks to refuse to deliver dollar transfers that reach some citizens," noting that "such measures contribute effectively towards going to the parallel market to buy the dollar, and this worsens the issue and does not solve it." .

 

The Central Bank of Iraq had confirmed in a statement that its decision to stop cash withdrawals includes only remittances received from outside Iraq according to certain arrangements, and does not in any way include citizens’ balances deposited in US dollars.

 

Source: Baghdad Today