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Iraqi News Thursday AM 10-15-20

TLM724 Administrator BondLady’s Corner

The Dollar Continues To Rise In Iraq, And These Are Today’s Prices

Time: 10/15/2020 12:20:45 Read: 23,439 times  {Baghdad: Al Furat News} The exchange rates of the dollar in the currency markets in Iraq continued to rise today, Thursday.

The Kifah Stock Exchange recorded 124,400 dinars against 100 US dollars, or 124 thousand and 100 dinars for one hundred dollars.

While the exchange rate of the dollar recorded today, Wednesday, 124.100 dinars per 100 dollars.

The selling price in the money exchange is 125,000 dinars per 100 dollars, and 124,000 dinars per 100 dollars buying.

In Erbil, the dollar price also witnessed a rise, as the selling price reached 124,300 per hundred dollars, and the purchase at 124,000 per hundred US dollars.   In Dhi Qar, the dollar exchange rate reached 124,500 dinars.   LINK

Al-Rafidain Invites Banking Companies To Enter The Window To Sell The Currency In Dollars

Time: 10/15/2020 08:44:46 Read: 3,172 times   {Baghdad: Al Furat News} Al-Rafidain Bank has directed exchange companies to enter the window of the auction of currency in dollars offered by the bank.

The bank’s media office said in a statement that “the bank decided to re-operate the window for selling currency in dollars to banking companies,” calling on these companies to review the bank’s main branch in Baghdad, Shorjah, to view the conditions and instructions for selling currency, which are easy and easy terms that bring benefits and positivity to companies.   LINK

The Committee Charged With Amending The Law Of The National Oil Company Is Discussing The Draft Amendment

10/15/2020  The subcommittee of the Oil and Energy Committee, headed by Deputy Razzaq Mhaibes, Chairman of the Subcommittee and the presence of its members, which was formed to study and discuss the draft law of the First Amendment to the National Oil Company Law, held its meeting on Thursday 10/15/2020 to discuss the amendments.

Where the committee discussed during the meeting the draft law in all its technical and legal aspects.

The committee affirmed its intention to proceed with the legislation of the law due to its importance in developing the oil sector and supporting the economy in the country.

Parliament   Information  Department 15/10/2020   LINK

Low Oil Prices, As More Corona Injuries Threaten To Recover Demand

Time: 10/15/2020 12:25:55 Read: 1,066 times   {International: The Euphrates News} Oil prices fell today, Thursday, curtailing the gains made earlier in the session, as a new rise in new Corona infections around the world reinforced concerns about economic growth and a recovery in fuel demand.

European countries re-impose curfews and general isolation measures in light of the increase in new cases of Corona.

India, the third largest consumer of crude in the world, is preparing to overtake the United States with the largest cases of corona in the world, and is preparing for an increase in infections in the coming weeks as a major holiday season approaches.

Brent crude futures fell 28 cents, or 0.7%, to $ 43.04 a barrel, while US West Texas Intermediate crude futures fell 24 cents, or 0.6%, to $ 40.80.

The International Energy Agency said on Wednesday that a second wave of coronavirus infections could hamper producers’ efforts to balance the market.

Brent earlier rose 0.4%, and West Texas crude 0.6%, extending the gains it made in yesterday’s session, after data showed that US crude stocks fell last week.

The American Petroleum Institute said that stocks of crude, gasoline and distillates decreased in the week ending on October 9, according to a report issued after the market closed yesterday.

The US Energy Information Administration is due to release its weekly data on Thursday, a day later than the normal schedule after a public holiday.

Two OPEC + sources said, before a meeting of the group’s technical committee today, Thursday, to review the situation in the oil market, that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the bloc known as OPEC +, recorded a compliance rate of 102% with their agreement to reduce oil supplies last September.   LINK

The Central Bank Clarifies Its Vision For Reforming The Banking Sector

Time: 10/15/2020 08:32:01 Read: 3,055 times  (Baghdad: Al Furat News) A few days ago, the Central Bank of Iraq presented a vision to reform the reality of the banking sector in the country to strengthen the financial stability system based on competition.

The Governor of the Bank, Mustafa Ghaleb Makhaif, stated in a press statement that “the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals it seeks to achieve and specified under its amended Law No. 56 of 2004, the most important of which are (ensuring the stability of local prices and strengthening the system A stable financial system based on competition), to continue achieving the strategic objectives set out in the 2016-2020 plan.

“To this end, the bank recently presented the terms of the reform paper for the banking sector, which has been initiated now, because of its importance in developing banking services and products in the next stage, and through it, the banking sector will be supported to advance its current reality. Of the specific criteria adopted by the bank, and on the basis of which the operating banks were classified.

He pointed out that “this classification will be reviewed at the end of this year, and continue to do so for the following seasons.”

He said, “This step comes within the framework of enhancing confidence in the banking sector and improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.” Once again, “the previous central bank confirmed in the request to banks that are lagging more than once to work” to correct their situation and pay dues. customers “, stressing that” this category will be an opportunity for those banks to prove its seriousness in achieving reform requirements and the payment of depositors and shareholders dues owed by those banks. ”   LINK

The International Development Bank Announces The Postponement Of The Installments Of Employee Loans For The Current Month Of October

Banks  Economy News _ Baghdad  The International Development Bank announced, on Thursday, the postponement of the installments of loans to localized employees with their salaries for the current month of October.

The bank said in a post on the “Facebook” page, which was seen by “Al-Eqtisad News”, that in light of the current crisis that our country is going through as a result of the delay in paying salaries and a contribution from the International Development Bank towards its esteemed customers and a sense of professional and social responsibility in these exceptional circumstances, it has decided The bank’s senior management to postpone the repayment of the loan installments of the employees whose salaries are domiciled for the current month of October.

He added that repayment of credit card loans granted will also be delayed by three times the salary.

Number of observations 82 Date of addendum 10/15/2020

Free Zones For Trade Exchange In The Baghdad Belt

Money  and business  Economy News _ Baghdad  The local administration of Baghdad, together with the Provincial Chamber of Commerce, is planning to establish free zones in the belt of the capital to be dependent on commercial exchange, limit the entry of trucks loaded with goods and reduce traffic.

The governor of Baghdad, Muhammad Jaber Al-Atta, said, “A delegation from the Baghdad Chamber of Commerce discussed with the governorate the establishment of free zones in the belt of Baghdad that depend for trade exchange to limit the entry of trucks loaded with goods to the capital and reduce traffic congestion, while the delegation of the Chamber of Commerce presented a proposal that included granting investment opportunities to establish Multi-storey garages in commercial areas to reduce the momentum of street parking. ”

He added that “a mechanism was also discussed to compensate merchants and shop owners who suffered material losses as a result of the recent demonstrations, which included addressing the Prime Minister to compensate a number of merchants and shop owners in the Shorja area and other areas who suffered material losses,” pointing out that “the committee that will take place Its formation will set up the necessary compensation mechanisms in this regard. ” Number of observations 137 Date of addendum 10/15/2020

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