Iraqi News Highlights Monday Evening 7-17-23
Iraqi News Highlights Monday Evening 7-17-23
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Hosts The Governor Of The Central Bank To Discuss The Exchange Rate Of The Dollar
Political | 07/17/2023 Baghdad - Mawazine News The Parliamentary Finance Committee announced, on Monday, that it decided to host the Governor of the Central Bank, Ali Al-Alaq, next week. The deputy head of the committee, Ahmed Mazhar al-Jubouri, said, “After approving the budget and fixing the exchange rate of the dollar at 1,320 dinars, there will be a hosting of the governor of the Central Bank and his advanced staff next week in the Finance Committee to discuss the issue of the exchange rate.” He added, “The committee will discuss with the governor about the bank’s plan. ” In maintaining the exchange rate.” https://www.mawazin.net/Details.aspx?jimare=231521
The Dollar Continues To Rise..The Paper Touches 150,000 Dinars
Political 07/17/2023 Baghdad - Mawazine News The exchange rate of the dollar rose this evening in the local markets in Iraq. The selling price of 100 dollars was recorded at 149,500 Iraqi dinars. While the purchase price was recorded at 147,500 Iraqi dinars. https://www.mawazin.net/Details.aspx?jimare=231527
The Central Bank Is Following Up On The Field The Banking Reform Strategy
Sameer Al-Nusairi During these days, the Central Bank followed up with field tours of our governmental and private banks, which began last week in Erbil with a specialized and expanded meeting in the presence of banks operating in the province and the Association of Iraqi Private Banks. Field follow-ups continued today to the two governmental Iraqi Trade and Industrial Banks.
One of the most prominent things that was mentioned and emphasized by the Governor of the Central Bank as a main goal is the role of the Central Bank and the banking sector in implementing Paragraph (7) of Article (12) of the government program (financial and banking reform), which stipulates (reforming the banking system in Iraq to provide a real base And effective to advance the Iraqi economy and stimulate investment through restructuring and mechanization of government banks, reviewing their work, stimulating private banks and enabling them to be able to support real investment and development).
Where the Central Bank implements its plan for this year to build clear foundations for market stability and maintain the stability of the exchange rate of the Iraqi dinar according to the official target price and support its purchasing power and continue the campaign to support the Iraqi dinar at all levels.
Therefore, the directives of the Governor of the Central Bank to private banks in Erbil were to carry the directions The same for government banks in Baghdad. And from our follow-up and analysis of the results of field visits, the focus has been focused on as obligatory goals, which are as follows: -
First - raising the level of accuracy and speed in executing foreign commercial transfers and overcoming delays in them through in-depth negotiations with the US Federal Reserve and agreement with an auditing company specialized in auditing remittances instead.
From the US Federal Reserve, and this contributed to the success of the project by 80%, and the allocation of a permanent and developed center to conduct these transfers and ensure the stability of the exchange rate.
Second - Supporting the productive private sector, financing and developing small and medium enterprises, in a way that contributes to reducing unemployment, revitalizing the economic cycle and stimulating the economy.
Third - Enabling the banking sector to contribute to development and investment, as stated in the government program, and suggesting that banks finance the project of paving a commercial road between Baghdad and Erbil, which achieves an important strategic goal that serves trade, transport, investment, and rapid hospitalization, and is considered one of the pillars of sustainable development projects.
Fourth - Improving the level of services provided to customers and investing in modern financial and banking technologies. Views 133 07/17/2023 https://economy-news.net/content.php?id=35175
Al-Sudani Chairs A Meeting To Discuss Launching A New Initiative To Advance The Industrial Sector
Political | 07/17/2023 Baghdad - Mawazine News On Monday, Prime Minister Muhammad Shia al-Sudani chaired a meeting devoted to discussing the reality of the industrial sector in Iraq and the path of launching a new industrial initiative to advance this sector, in the presence of a number of consultants and representatives of the private sector.
Al-Sudani's office stated in a statement, which Mawazine News received a copy of, that "the meeting discussed including the initiative in reviewing decisions and legislation related to the industrial sector, as well as preparing a package of urgent decisions aimed at rapid support for the national industrial sector."
During the meeting, Al-Sudani directed "to take urgent and rapid measures that enable the state to improve the environment for industrial investment and develop its contribution to the national economy."
The Prime Minister affirmed, "The government is keen to adopt promising national industrial projects, which will be a partner to the state in implementing economic development plans, and that the government is serious in its endeavor to advance the industrial reality as part of the economic reform adopted within the priorities of the government program."
$219.7 million in Central Bank sales Economy News – Baghdad Today, Sunday, the sales of the Central Bank of Iraq, in the foreign currency sale window, amounted to more than 219.7 million dollars.
The Central Bank’s website published a table of its dollar sales, which was viewed by Al-Eqtisad News, as it included the participation of 35 banks and 93 exchange companies, and covered external transfer requests of $202.9 million, while cash requests amounted to $16.8 million.
And the Central Bank of Iraq sells the dollar for documentary credits and international settlements of electronic cards at a price of 1305 dinars per dollar.
Views 29 Added 07/17/2023 - 12:21 PM https://economy-news.net/content.php?id=35186
Al-Mandalawi Directs The Concerned Parliamentary Committees To Work On Amending The Iraqi Banking Law And To Host The Governor Of The Central Bank
Monday 17, July 2023 19:05 | Economical Number of readings: 128 Baghdad / NINA / - First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, directed the Parliamentary Legal Committee to work on ripening paragraphs and amending the Iraqi Banking Law in line with the orientation of the legislative and executive authorities in supporting the private sector, as a key partner and a real contributor to moving the wheel of development in the country.
During his sponsorship, today, Monday, a symposium held by the Association of Iraqi Private Banks, under the slogan (challenges of the Iraqi banking sector), in the presence of a number of deputies and directors of private banks, called on the Parliamentary Finance Committee to host the Governor of the Central Bank, Ali Al-Alaq, to discuss legislation related to the banking sector.
Iraqi, and developing solutions to the problems and challenges facing private banks, especially opportunities for credits, guarantees, taxes and cash liquidity, in a way that contributes to drawing up a comprehensive strategic investment map for the development of the banking sector in the country. /
https://ninanews.com/Website/News/Details?key=1065461
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