Tlm724 Administrator Bondlady’s Corner
After His Appointment As Governor Of The Central Bank .. Allaq: One Of Our First Tasks Is To Work To Raise The Value Of The Dinar Against The Dollar
Monday 23 January 2023 13:23 | EconomicalNumber of readings: 597
Baghdad / NINA / – The governor of the Central Bank of Iraq in charge, Ali Al-Alaq, announced that one of his first tasks is to work to raise the value of the Iraqi dinar against the dollar.
Al-Alaq said in a tweet: “We have received the tasks of the governor of the Central Bank, commissioned by the Prime Minister, Muhammad al-Sudani. And the first tasks and recommendations, we will work to raise the value of the Iraqi dinar against the dollar with sound and accurate procedures, and we will work to gradually return the price of the dollar to the previous one.”
Today, Monday, the Prime Minister, Muhammad Shia’a Al-Sudani, exempted the Central Bank Governor, Mustafa Ghaleb Makhaif, at his request. Ali Mohsen Al-Alaq was appointed instead. / finished8
https://ninanews.com/Website/News/Details?key=1028590
Al-Sudani: Our Financial Situation Is At Its Best, And The Fluctuations In The Dollar Exchange Rate Are An Agreed Mechanism Between Financial Institutions And The Central Bank / Expanded
Monday 23 January 2023 12:14 | Economical Number of readings: 385
Baghdad / NINA / – The Prime Minister, Muhammad Shayaa Al-Sudani, affirmed: “The Iraqi financial situation is at its best,” noting: “The fluctuations in the dollar exchange rate are an agreed upon mechanism between financial institutions and the Central Bank.”
Al-Sudani said in a speech during the announcement of the launch of the food basket for those covered by the social protection network: “One of the government’s priorities is to combat the phenomenon of poverty, and we have used measures to reduce and reduce it,” noting that “the cabinet took a decision to improve the items of the food basket for families of the social protection network.”
He added that “securing this basket in quantity and quality addresses poverty for these families who do not have any living cash other than the cash subsidies they receive from the Social Protection Authority,” noting that ”
And he continued, “There are those who took advantage of the case of the high exchange rate, and it is not a government decision, but rather an agreement between financial institutions and the central bank,” noting: “The rise in prices is a temporary matter and we are working to preserve public money and prevent smuggling, money laundering and currency speculation.”
He pointed out that “the state is capable and has the financial, administrative and legal capabilities to go to the markets and provide all the materials that the Iraqi citizen needs. We will not tolerate any official or unofficial party that tries to harm the citizen’s livelihood.”
And he stressed that “decisions were taken against those who try to speculate and influence the market and the prices of goods in illegal ways. ” Al-
Sudani stressed: “The departments that have been assigned in the Central Bank and the Iraqi Trade Bank possess skills and will work to reduce the rise in exchange rates, and the Iraqi financial situation is at its best.”
And he stated: “There are merchants who have a sense of patriotism and will work on importing foodstuffs in coordination with the Ministry of Commerce in order to help citizens and confront speculators.”/ End https://ninanews.com/Website/News/Details?key=1028569
The Dollar Is Declining In The Iraqi Market
Economie| 02:52 – 01/23/2023 Baghdad – Mawazine News Today, Monday, the exchange rates of the dollar witnessed a decline in the local stock exchange. The selling price of the dollar was 161,000 dinars per 100 dollars, while the buying price of the dollar was 160,000 dinars per 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=217335
A New Comment From The Central Bank Regarding The Exchange Rate Of The Dollar
Money and business Economy News – Baghdad The Central Bank announced, on Monday, the exhaustion of all steps related to monetary policy, and while indicating that the electronic platform is a national option for organizing the foreign trade process, it stressed the importance of the decision to allow imports in the names of companies and persons.
The Central Bank of Iraq adviser, Ihsan Shamran al-Yasiri, told the official news agency, “The meeting of Prime Minister Muhammad Shia’ al-Sudani with a group of merchants and representatives of the Central Bank regarding the issue of the dollar exchange rate was an important meeting,” noting that “the issue of the dollar exchange rate is not with the Central Bank.” “.
He added, “The central bank has exhausted all steps related to monetary policy, and the issue is now related to state institutions concerned with dealing with merchants regarding import and export operations,” explaining that “the tax system reform step is important, especially the Prime Minister’s speech regarding not allowing corruption in outlets and tax procedures.” .
And he indicated, “The merchants assigned to deal with the General Tax Authority began to worry about communication and exposure to tax institutions, so they always withheld their purchases,” noting that “the Central Bank sent a message to the Prime Minister with the need to liberate the citizen from the problems and complexities of the high bureaucracy in tax work.”
And he stated, “The Central Bank does not have a problem with dollar resources, but a problem with dollar supply,” pointing out that “the electronic platform is a national option for organizing the process of foreign trade and organizing information.”
He pointed out that “the platform imposes that the merchant who buys the dollar is the same one who brings the goods in his name,” explaining that “Iraq is a country that complies with international controls.”
He continued, “The problem is with financing foreign trade, which is now putting pressure on the exchange rate, because merchants are worried and afraid to come and expose themselves,” noting that “the platform has become necessary, which is that the merchant who buys the dollar brings the goods in his name at the outlets.”
Regarding the documentary credit, Al-Yasiri stressed that “the documentary credit took advantage of being at a lower price in order to encourage the public and merchants,” explaining that “the important issue that was taken by the Council of Ministers is to allow imports in the name of companies and individuals as well.” https://economy-news.net/content.php?id=32049
Exempting The Governor Of The Central Bank From His Position And Referring The Director Of The Trade Bank Of Iraq To Retirement
Iraq Today, Monday, Prime Minister Muhammad Shia’a al-Sudani decided to relieve Central Bank Governor Mustafa Ghaleb Makhaif of his post.
A government source told the Iraqi News Agency, “Prime Minister Muhammad Shiaa al-Sudani decided to relieve Central Bank Governor Mustafa Ghaleb Makhaif of his post, at his request.”
The source added, “The Prime Minister assigned Ali Mohsen Al-Alaq to run the Central Bank by proxy.”
Prime Minister Muhammad Shia al-Sudani also decided to refer the director of the Iraqi Trade Bank, Salem Jawad Chalabi, to retire.
The media office of the Prime Minister stated, in a statement, according to the agency, that “Al-Sudani decided to refer the director of the Iraqi Trade Bank, Salem Jawad Al-Jalabi, to retirement.”
He added, “He assigned Bilal Al-Hamdani to manage the bank in addition to his duties.”
https://www.radionawa.com/all-detail.aspx?jimare=33124
He Revealed The Scenes Of Changing The Governor Of The Central Bank.. The Sudanese Gives Al-Alaq A Period Of Three Months
Posted On2023-01-23 By Sotaliraq 2023-01-23 Today, Monday, a prominent leader in the coordination framework revealed the scenes behind Prime Minister Muhammad Shia’a Al-Sudani’s decision to dismiss the governor of the Central Bank and assign Ali Mohsen Al-Alaq to replace him.
The leader, who asked not to be named, said, “The decision to dismiss the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, was made in agreement between the leaders of the coordination framework and Prime Minister Muhammad Shia’ al-Sudani, during their meeting, last night, at the house of the leader of the Al-Fateh Alliance, Hadi al-Amiri.”
And he indicated that “the decision to exempt was made by a vote of the majority of the leaders of the framework and was supported by the Prime Minister, and the selection of Ali Mohsen Al-Alaq as governor of the Central Bank, was done by the vote of the leadership body of the coordination framework, and also the Sudanese was supportive of this choice.”
He pointed out that Al-Alaq was given a period of three months to evaluate his work and performance, and he attended the meeting with the leaders of the framework and the Sudanese after it was agreed to assign him this task.
And today, Monday morning, Prime Minister Muhammad Shia al-Sudani decided to relieve the governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, while Ali Mohsen Al-Alaq was assigned to run the bank by proxy.
Yesterday, Sunday, Al-Sudani took urgent decisions to “address” the exchange rate of the US dollar against the local currency during his meeting with the Federation of Iraqi Chambers of Commerce to discuss solutions to the fluctuation of the exchange rate of the foreign currency.
These decisions come at a time when the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual rise since November 2022, reaching its highest levels in recent days, as it crossed the barrier of 165 thousand dinars per 100 dollars. LINK
Central Bank: We Have No Problem With Dollar Resources, And The Electronic Platform Is A National Option
Political | 06:47 – 01/23/2023 Baghdad – Mawazine News Today, Monday, the Central Bank announced the exhaustion of all steps related to monetary policy, and while indicating that the electronic platform is a national option for organizing the foreign trade process, it stressed the importance of the decision to allow imports in the names of companies and persons.
The Central Bank of Iraq adviser, Ihsan Shamran al-Yasiri, said: “The meeting of Prime Minister Muhammad Shia’ al-Sudani with a group of merchants and representatives of the Central Bank on the issue of the exchange rate of the dollar was an important meeting,” noting that “the issue of the exchange rate of the dollar is not with the Central Bank.”
He added, “The Central Bank has exhausted all steps related to monetary policy, and the issue now is related to state institutions concerned with dealing with merchants regarding import and export operations,” explaining, “The step of reforming the tax system is important, especially the prime minister’s speech regarding not allowing corruption in outlets and tax procedures.” “.
And he indicated, “The merchants assigned to deal with the General Tax Authority began to worry about communication and exposure to tax institutions, so they always withheld their purchases,” noting that “the Central Bank sent a message to the Prime Minister with the need to liberate the citizen from the problems and complexities of the high bureaucracy in tax work.”
And he stated, “The Central Bank does not have a problem with dollar resources, but a problem with dollar supply,” pointing out that “the electronic platform is a national option for organizing the process of foreign trade and organizing information.”
He pointed out that “the platform imposes that the merchant who buys the dollar is the same one who brings the goods in his name,” explaining that “Iraq is a country that complies with international controls.”
He stated, “The problem is with financing foreign trade, which is now putting pressure on the exchange rate, because traders are worried and afraid to come and expose themselves,” noting that “the platform has become necessary, which is that the merchant who buys the dollar brings the goods in his name at the outlets.”
Regarding the documentary credit, Al-Yasiri stressed that “the documentary credit took advantage of being at a lower price in order to encourage the public and merchants,” explaining that “the important issue that was taken by the Council of Ministers is to allow imports in the name of companies and individuals as well.” https://www.mawazin.net/Details.aspx?jimare=217370
The Central Bank Signs The Corporate Governance Agreement For Environmental Standards
Economie| 12:45 – 01/23/2023 Baghdad – Mawazine News Today, Monday, the Central Bank signed an agreement on corporate governance for environmental and social standards with the International Finance Corporation (IFC), while noting that preparing strong reports on environment, society and governance is essential to creating a sustainable financial sector.
The Central Bank’s advisor, Ihsan Shamran al-Yasiri, told the official news agency, “The performance card for environmental, social and corporate governance standards (ESG) for the Iraqi banking sector began 5 years ago,” noting that “the Central Bank has set 6 important criteria related to the performance of banks and the quality of management.” .
He explained, “Iraq has 75 banks, but the standards will determine the efficiency and ability of banks to apply the standards and their compatibility with economic, environmental and other requirements.”
He pointed to “the ability of the central bank to sort the banks, as they were divided into several categories (very excellent banks, banks in average condition, weak banks),” pointing to “the importance of pushing weak banks to reach acceptable levels.”
And he praised, “the efforts of the International Finance Corporation,” pointing out that “this issue is important for the central bank and banks, as it will serve the banking sector and know its status, capabilities and risks surrounding it.” https://www.mawazin.net/Details.aspx?jimare=217322
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