Iraqi News Highlights Late Sunday Night 7-16-23
Tlm724 Administrator Bondlady’s Corner
Sudanese Consultant Recommends Providing A Climate Of Competition To Reduce Exploitation And Price Speculation
Information / Baghdad.. Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, recommended the need to provide a climate of competition to limit exploitation and price speculation. In an interview followed by Al-Malooma Agency, Saleh said, “In order to ensure competitiveness in the market and reduce liberal chaos in the exchange sector, we must return to the bonds of social market institutions by spreading consumer and production cooperatives that practice competitive price discipline and quality control at the same time.”
He added, “Methods of fraud and commercial deception are still causing severe damage to the interests of the public and exploiting them through price speculations and goods and services far from quality control for the sake of illegal gain at the expense of the citizen’s limited income.” Saleh pointed out that
“the poor quality of the processed goods, which are supplied from not internationally recognized mills, are not subject to quality or quality control.”
He pointed out that “this is the biggest waste in suppressing the competitiveness of the economy and reducing the consumer’s benefit and levels of legal protection in accordance with the accepted national and international standards in trading goods and services within the national market.” End / 25
https://almaalomah.me/news/economy/مستشار-السوداني-يوصي-بتوفير-مناخ-المنافسة-للحد-من-الاستغلال
With A Decrease Of Two Billion.. The Iraqi Central Bank Reveals The Dollar Reserves And Announces The Success Of Supporting The Dinar
Economy U.S. dollar Central Bank of Iraq Iraqi dinar currency reserve 2023-07-16 08:54
Shafaq News/ The Central Bank of Iraq revealed, on Sunday, the size of the country’s US dollar reserves, confirming the bank’s success in managing cash liquidity and preserving the dinar.
The Central Bank’s deputy governor, Ammar Hamad, told Shafaq News agency,
“The central bank’s reserves of foreign currency are in a good position, amounting to $113 billion, and sufficient to manage financial liquidity and support the local currency.” Hamad explained,
“The central bank’s reserves are considered comprehensive, as they include all currencies, gold, bonds, and property,” stressing that the central bank “was able to manage cash liquidity, currency value, and preserve the Iraqi dinar.”
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, had reported on March 28 that the central bank’s reserves had reached $115 billion, the largest in Iraq’s history.
And the Council of Ministers approved the decision of the Central Bank of Iraq to raise the value of the dinar against the dollar to 1,300 dinars instead of 1,470 dinars, in a step aimed at enhancing the value of the local currency.
And the rise in oil prices during the past year, which in some months reached more than 100 dollars, contributed to the rise in Iraqi financial revenues, which was positively reflected in the rise in Iraq’s hard currency reserves.
https://www.shafaq.com/ar/اقتصـاد/بنقصان-مليارين-المركزي-العراقي-يكشف-احتياطي-الدولار-ويعلن-نجاح-دعم-الدينار
Governor Of The Central Bank Of Iraq Visits The Iraqi Trade And Industrial Bank
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, conducted a field visit to the Trade Bank of Iraq (TBI) and the Industrial Bank.
On the sidelines of the visit, His Excellency met with the advanced staff of the two banks, listening to the most prominent problems and challenges facing the two banks, directing the necessity of harmonizing banking plans and directives with the program and objectives of the government and the Central Bank of Iraq, stressing work to reform and develop the Iraqi banking sector.
His Excellency the Governor, Trade Bank of Iraq (TBI) urged the need to open a permanent and advanced center for conducting commercial transfers to provide its services with speed and accuracy that contribute to the implementation of the largest number of such transfers at low wages, thus contributing to encouraging the entry of merchants into the external transfer system and achieving stability in the market and the exchange rate.
The Governor directed the two banks (Iraqi Trade and Industrial) to focus their credit and lending policies towards expanding and diversifying the productive base, and supporting the private sector with small and medium enterprises initiatives, due to its impact on economic growth and reducing unemployment among large segments of society.
His Excellency Mr. Al-Alaq stressed the need to raise the level of customer services and invest in modern financial technologies to develop banking services and attract the public to achieve financial inclusion and enhance capabilities to finance various economic activities.
Central Bank of Iraq information Office 16 – July – 2023 https://cbi.iq/news/view/2383
Listing Shares In The Iraq Stock Exchange
July 16, 2023 The Central Bank of Iraq decided to oblige all electronic payment service provider companies to list their companies’ shares in the Iraq Stock Exchange in accordance with the regulations that include the conditions and requirements for listing companies in the stock market / regular market and the second market issued by the Securities Commission,
provided that their conditions are adapted to the instructions Listing within a period of one year from the date of listing, to act accordingly and inform us of your procedures within a period of one month from the date of 7/13/2023. https://cbi.iq/news/view/2382
The Central Bank Of Iraq Participates In The Opening Of The Sixth Annual Conference On Finance And Banking Services
July 15, 2023 Today, Saturday, the Central Bank of Iraq participated in the opening of the sixth annual conference on finance and banking services, which was held at the Baghdad International Fair.
The Deputy Governor, Dr. Ammar Khalaf, in his speech during the opening ceremony, emphasized the role of the Central Bank of Iraq in achieving financial and economic stability in the country, stressing the existence of changes in the various monetary policy tools in line with the challenges of the stage.
The deputy noted an increase in electronic payment tools in the period between 2017-2022, as today the number of different cards has reached 16 million, with the number of payment devices increasing from 918 devices to more than 10 thousand devices, in addition to the increase in the number of ATMs from 656 devices. To more than 2000 devices, and it is subject to increase during the coming period.
Accompanied by the invitees, Mr. Representative toured the corridors of the exhibition, which ends on the 17th of this month, and was briefed on the latest services and benefits offered by banks to the public. Central Bank of Iraq information Office 15 – July – 2023 https://cbi.iq/news/view/2378
The Main Tasks Of The Directorate Of Engineering And Technical Affairs
July 16, 2023 Duties of the Directorate of Engineering and Technical Affairs
First: Engineering Department:
Follow-up maintenance work for the buildings and other facilities of the bank in Al-Rasheed and Al-Jadriya sites, as well as Al-Nahda garage, in all specialties (civil, sanitary, electrical, and mechanical).
Carrying out all the work required by the bank protection force and the army detachments that carry out duties in Al-Rasheed Street to secure the protection of the bank and banking buildings, which include installing caravans and supplying them with electricity, cooling devices and other services.
Participation of maintenance engineers in the work of the new bank building project in Jadriya and in committees related to the new project as well.
Assigning engineers to other works, such as establishing new facilities at any site belonging to the Bank.
Following up and maintaining the gardens around the bank’s buildings.
Maintenance engineers and technicians follow up the installation and distribution of furniture in the bank’s buildings.
Supervision of the repairs committee for works that fall outside the department’s possibility.
Second: Projects Section:
Studying and preparing future plans for projects and preparing integrated studies (technical and economic feasibility) to determine the requirements for establishing new projects or rehabilitating and maintaining existing buildings and determining the priorities for their implementation and preparing plans for their implementation and preparing the required documents (drawings and approved bills of quantities, land title deed, project location, bidding documents) .
Monitoring, auditing and submitting plan expenditures based on reports to the senior management of the bank.
Supervision and follow-up on the progress of work in projects under implementation.
Studying and analyzing tender bids for projects.
Check and follow up the percentage of completion of projects.
Ensure proper control of paper and electronic engineering documents in accordance with the standards of the International Organization for Standardization ISO 9001, by archiving documents and engineering project information and storing them appropriately and maintaining an organized archive of both paper and electronic documents using software.
Third: Purchasing and Stores Section:
Receiving materials and devices, entering them into the warehouses and documenting them electronically using the (IBCS) system and recording them in special records.
Carrying out purchases according to the bank’s needs, as well as preparing bank-specific publications (official books, internal notes, leave forms, etc.).
Fourth: Occupational Health and Safety Section:
Carrying out medical examinations for workers and diagnosing occupational diseases through the professional medical work team affiliated to the National Center for Occupational Health and Safety and conducting campaigns to combat rodents and insects for all buildings and in agreement with the Center for Communicable Diseases and working on re-examinations for workers in the department of issuance and safes and according to the periods fixed in the schedule and Achieving occupational safety and raising risks for all workers on it, examining fire extinguishers, wet and dry systems, and self-extinguishing systems for all buildings, forming a first aid team, providing prevention requirements, aiding the injured, and forming self-protection teams and civil defense guards.
Fifth: Services Section:
Carrying out the follow-up of business and administrative services and the completion of daily duties such as the delivery of employees assigned to official duties, the maintenance and maintenance of wheels on an ongoing basis, the issuance of official books, orders and circulars to the bank’s directorates, and the receipt and delivery of registered and regular mail incoming to the bank through the bank’s mailbox No. (64) after taking it to the incoming number and Receipt and receipt of mail issued by the bank to the three presidencies, state ministries and agencies. https://cbi.iq/news/view/2380
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