Bondlady’s Corner Iraqi Economic News & Points to Ponder Tuesday Evening September 12, 2023

Iraqi Economic News & Points to Ponder Tuesday Evening 9-12-23

Tlm724 Administrator Bondlady’s Corner

A Source Reveals Details Of Dollar Smuggling: The Responsibility Falls On The Kurdistan Region In Cooperation With Speculators

Political | 03:44 – 12/09/2023   Baghdad – Mawazine News   An informed source revealed details of dollar smuggling, holding the Kurdistan Region and speculators in the Al-Kifah and Al-Harithiya stock exchanges responsible.

The source said in an interview with Mawazine News, “The current rise in the dollar exchange rates is the responsibility of the Kurdistan region and most of the currency smuggling operations through the border crossings of Erbil, in cooperation with speculators in the Al-Kifah and Al-Harithiya stock exchanges.”

He added, “Speculators, smugglers, and currency traders are using the region as a safe haven for their illegal actions.”

The Dollar Continues To Rise In Local Markets

Economy  Tuesday, September 12, 2023 10:31 AM  Baghdad/National News Center  Today, Tuesday, dollar prices recorded an increase in the markets of the capital, Baghdad.

Dollar prices rose at the opening of the Al-Kifah and Al-Harithiya stock exchanges to record $155,000 against $100, while prices yesterday morning, Monday, were 154,100 dinars against $100.

Selling prices in exchange shops in local markets in Baghdad reached 156,000 dinars per 100 dollars, while purchasing prices reached 154,000 dinars per 100 dollars.

Central Bank Sales Amounted To More Than $201 Million

Economy News – Baghdad  Today, Tuesday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 201.3 million dollars.

The Central Bank’s website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 27 banks and 145 exchange companies, and foreign transfer requests covered $137.2 million, while cash requests amounted to more than $64.1 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash. Views 25  09/12/2023 –

Parliamentary Finance Decides To Host The Ministers Of Federal Oil And Wealth In Kurdistan

Economy News – Baghdad  The Parliamentary Finance Committee decided, on Tuesday, to host the Ministers of Federal Oil and Resources in the Kurdistan Region, while indicating that it would submit its report to the Presidency of Parliament to find out the reasons for the interruption of funds from the region.

The head of the committee, Atwan Al-Atwani, told the Iraqi News Agency (INA), followed by “Al-Eqtisad News,” that “the committee hosted the government team negotiating with the Kurdistan region, which is the first step regarding the task assigned to the House of Representatives to reach appropriate solutions regarding the region’s amounts in accordance with the constitution and the budget law.” .

He added, “The committee will host during the current week the current Minister of Oil in the government and the Minister of Wealth in the Kurdistan region to complete the meetings and boycott the information provided by the government team to find out where the defect lies,”

noting that “the committee will submit its report to the House of Representatives during the current week to find out the reasons for cutting The amounts for the region, and what solutions the House of Representatives could take to guarantee the rights of citizens in Kurdistan.”  Views 53   09/12/2023   Https://Economy-News.Net/Content.Php?Id=36303

The Parliamentary Economy And Trade Committee Monitors Financial And Administrative Corruption In The Ministry Of Commerce

Economy News – Baghdad  The Parliamentary Economy, Industry and Trade Committee announced, on Tuesday, monitoring suspicions of financial and administrative corruption, cases of circumvention of laws and instructions, and clear confusion in the Ministry of Commerce, specifically the General Company for Central Markets.

The head of the subcommittee of the Ministry of Commerce, Representative Kazem Al-Shammari, said in a statement received by Al-Iqtisad News, “The General Company for Central Markets is experiencing a state of confusion, mismanagement, and lack of planning by announcing tenders to occupy central market complexes, and after companies submit their bids, the company resorts to replacing The method of contracting and the transition to investment and then moving to the method of participation.

These rapid transitions and change in the method of contracting confirm the existence of circumvention of the law and a complete disregard for the role of the regulatory authorities.”

He added, “These procedures have been taking place for quite some time, and the Minister of Commerce has not done anything despite being informed more than once, in official letters, of the existence of these serious violations that cause the waste of public money.”

Al-Shammari stressed, “After the Parliamentary Economy, Industry and Trade Committee completes its audit procedures for the Ministry of Commerce, the appropriate decision will be taken in a manner consistent with the Constitution and stipulated in the bylaws.”

Views 44 09/12/2023

Points to Ponder on Education and Wisdom:

“It is the mark of an educated mind to be able to entertain a thought without accepting it.”  – Aristotle

“Education is when you read the fine print. Experience is what you get if you don’t.”   – Pete Seeger

“The only true wisdom is knowing that you know nothing.”  – Socrates

“To repeat what others have said requires education. To challenge it requires brains.”
– Marry Pettibone Poole

“It is possible to store the mind with a million facts and still be entirely uneducated.”
– Alec Bourne

“Life is not divided into semesters. You don’t get summers off and very few employers are interested in helping you find yourself.”  – Bill Gates

“Intellectual growth should commence at birth and cease only at death.”  – Albert Einstein

“Education is like a double-edged sword. It may be turned to dangerous uses if it is not properly handled.”  – Wu Ting-Fang

“Ignorance, the root and the stem of every evil.” – Plato

“Education’s purpose is to replace an empty mind with an open one.”  – Malcolm Forbes