Iraqi News Highlights Thursday Afternoon 8-10-23
Tlm724 Administrator Bondlady’s Corner
The Central Bank Announces Fines Imposed On Exchange Companies
Economy Thursday, August 10, 2023 Baghdad / National News Center Today, Thursday, the Central Bank of Iraq announced that the fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 66 billion Iraqi dinars during the past six months.
A table of the bank showed that “the fines imposed on banks and financial companies during the past six months, starting from January, and until the end of June, amounted to 66 billion and 423 million and 972 thousand and 453 dinars, indicating that the fines also included 290 administrative penalties for these banks and non-bank institutions.” Distributed between warning, caution and respite.
And the table indicated that “the month of April witnessed the highest fines for banks and non-financial institutions, as these fines reached 17 billion and 440 million and 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while the month of June witnessed the lowest fines, amounting to 8 billion and 353 million and 387 thousand and 476 dinars with administrative penalties amounting to 50 penalties.
The table did not show the names of the banks on which fines and administrative penalties were imposed. The Association of Investors in the Iraq Stock Exchange criticized early June that the Central Bank of Iraq had increased fines on banks, noting that it would affect the profitability of investors in the shares of these banks. https://nnciraq.com/220870/
Service Council: A Directive To Address The Ministry Of Finance To Provide It With Deletion And Creation Data
Money and business Economy News _ Baghdad Today, Thursday, the Federal Public Service Council stressed the need to direct departments to address the Ministry of Finance to provide them with data on deletion and creation.
The Council stated in a statement received by “Al-Iqtisad News”, that “the Federal Public Service Council, and in implementation of the directives of the Prime Minister, Muhammad Shia’a Al-Sudani, and under the supervision of the Chairman of the Federal Public Service Council, Mahmoud Al-Tamimi, the Coordination and Follow-up Department with the ministries and government agencies today held a meeting with representatives of the ministries, governorates and non-governmental bodies.” associated with the Ministry.
He added, “The meeting was moderated by the Director General of the Coordination and Follow-up Department with ministries and government agencies, Ziyad Sabah Aber, representing the head of the Federal Public Service Council, and in the presence of Lina Turki, the head of the promotions department, who is responsible for following up the file in the department. from the same component.
He stressed that “this comes to support the state’s message in embracing its children from all nationalities, sects and minorities without discrimination.”
The Iraqi Market Trades Shares Worth 6 Billion Dinars In 5 Sessions
Money and business Economy News – Baghdad The Iraqi Stock Exchange announced today, Thursday, the weekly trading indicators.
The market said in a statement that, during the second week of August, it organized five trading sessions from Sunday (August 6) to Thursday (August 10), and the following indicators were achieved during this week: 1. The number of shares traded during this week amounted to more than 9 billion shares.
- The value of shares traded this week amounted to more than 6 billion dinars.
- The trading index in the market closed for the first session of the week at (723.32) points, while the index closed at the end of the week at (767.97) points, achieving an increase of (5.81%) from its closing at the beginning of the session.
- During the week, more than (4900) buying and selling contracts were executed on the shares of the companies listed in the market. Views 19 08/10/2023 https://economy-news.net/content.php?id=35613
The Dollar Exchange Rates Rose With The Closing Of The Stock Exchange In Baghdad
Economy Thursday, August 10, 2023 Baghdad / The National News Center The price of the dollar rose today, Thursday, in the Baghdad markets, with the closure of the main stock exchange in Al-Kifah.
The correspondent of the National News Center said, “The dollar prices rose with the closure of the Al-Kifah and Al-Harithiya stock exchanges, as prices recorded 152,500 dollars against 100 dollars, while the prices this morning were 152,200 dinars against 100 dollars.”
He added, “The selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 153,000 Iraqi dinars, while the purchase price reached 152,000 dinars for every 100 dollars.”
Makiya: We Are Working To Establish The Elements Of An Attractive And Ideal Environment For Investment In Iraq
Money and business Economy News – Baghdad The head of the National Investment Commission, Haider Muhammad Makiya, stressed today, Thursday, the need to speed up procedures related to obtaining approvals for investment projects.
And the authority stated in a statement, that “the head of the National Investment Commission, Haider Muhammad Makiya, chaired a meeting in the presence of the Director General of the Single Window and Investor Services Department in the authority, Zuhair Shaker, and the participation of representatives and authorized persons of the sectoral authorities in the investment and window departments in ministries and other institutions.”
The statement added, “Makiya discussed the procedures for activating the powers of representatives of the departments and departments of the single window and investor services in ministries and government institutions.”
Makiya stressed the necessity of accelerating the procedures related to obtaining approvals for investment projects and simplifying them for companies and investors in accordance with the ruling laws. The legal framework governing the administrative path and the fundamental contexts for obtaining approvals within the specified time periods, as stated in Article (20 / Second A) of the amended Investment Law No. (13) of 2006.
And he indicated that “Article (20) is clear and stipulates that the National Investment Commission, through the single window, shall approach the sectoral authorities through their authorized representatives regarding obtaining their approval on the investment project, and those authorities must issue their decision of approval or rejection or a request for amendment within a period of (15) days from the date Notify it, and the representative of the government agencies is obligated to obtain the answer during that period, and the failure to respond from the authority from which the opinion is requested during the above period is considered approval, and in the event of refusal, it must be reasoned.
And the Chairman of the Commission continued, “Investment is a vital tributary for financing the budgets of developed countries, and we are working to establish the elements of an attractive and ideal environment for investment in Iraq through facilitated procedures in accordance with modern and automated systems and initiating strategic steps towards vital projects in various sectors at the level of the capital, Baghdad, and all governorates.”
Views 27 08/10/2023 – https://economy-news.net/content.php?id=35614
Iraq And Jordan Discuss Common Issues In The Economic, Trade And Investment Fields
Economy | 10/08/2023 Baghdad – Mawazine News Today, Thursday, the Minister of Planning, Muhammad Ali Tamim, discussed with the Ambassador of the Hashemite Kingdom of Jordan, Montaser Al-Zoubi, a number of issues of common interest in the economic, trade and investment fields.
A statement by the ministry said, “Minister of Planning Muhammad Ali Tamim received, today, the Ambassador of the Hashemite Kingdom of Jordan to Iraq, Muntaser Al-Zoubi, and his accompanying delegation.”
He added, “During the meeting, they discussed a number of issues of common interest and ways to develop bilateral relations and cooperation between the two countries in the economic, trade and investment fields, as well as discussing mechanisms for working with the decisions of the joint Iraqi-Jordanian-Egyptian Coordination Council.” https://www.mawazin.net/Details.aspx?jimare=233002
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