Bondlady’s Corner Iraqi News Thursday Afternoon

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Iraqi News Thursday Afternoon 10-6-22

 

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The Central Bank: We Will Not Print A Currency Higher Than 50 Thousand Iraqi Dinars

 

Economy | 07:56 – 06/10/2022   Baghdad – Mawazine News, the Central Bank of Iraq confirmed, today, Thursday, that the new twenty thousand category will carry high security marks, and while he pointed out that there is no tendency to print a category higher than 50 thousand, he revealed that the volume of cash circulating in Iraq is 84 trillion dinars.

 

Central Bank Adviser Ihssan Shamran Al-Yasiri said that “the printing of the new 20,000 dinars denomination is part of the normal monetary practices of the Central Bank and within the framework of reconsidering the structure of the national banknote series.”

 

He added, “This category will be an intermediate currency structure and will be enhanced with high security marks from the latest globally and will provide an addition to smaller denominations such as the five thousand and ten thousand.”

 

He added that “the denomination of twenty thousand will be of the (standard) size under which the denomination of fifty thousand was printed, and it will also bear Iraqi features, as was done in the currencies that preceded it,” noting that “there is no current trend to reprint the current currencies with new copies.”

 

In response to a question about the possibility of issuing higher categories, between Al-Yasiri, that “the 50 thousand category is sufficient at the present time for the upper limit of the Iraqi currency, which is a very strong and sober category and can be used for storage, savings and cash transactions.”

 

He pointed out that “the size of the monetary mass circulating in banks and the public currently ranges between 83-84 trillion Iraqi dinars, and the new issuance of the 20,000 denomination will not change much of the volume of circulation because it will enter into the existing liquidity.”

 

He stressed that “the printing of the new category will not affect the value of the Iraqi currency and will not cause inflation, and the issue of inflation is linked to economic policies and has nothing to do with monetary circulation.” Ended 29   LINK

 

Advisor To The Central Bank Of Iraq: The New Twenty Thousand Dinars Category Will Carry High Security Marks

 

Thursday 06 October 2022 20:53 | Economic Number of readings: 125  Baghdad / NINA / – The Central Bank of Iraq confirmed, today, Thursday, that the new twenty thousand dinars category will carry high security marks, and while pointing out that there is no tendency to print a category higher than 50,000, he revealed that the volume of the monetary mass in circulation in Iraq is 84 trillion dinars.

 

The advisor of the Central Bank of Iraq, Ihsan Shamran al-Yasiri, said to the official agency, “The printing of the new 20,000 dinars denomination is part of the normal monetary practices of the Central Bank and within the framework of reconsidering the structure of the national banknote series.”

 

He added, “This category will be an intermediate currency structure and will be enhanced with high security marks from the latest globally and will provide an addition to smaller denominations such as the five thousand and ten thousand.”

 

He continued, “The denomination of twenty thousand will be of the (standard) size under which the denomination of fifty thousand was printed, and it will also bear Iraqi features, as was done in the currencies that preceded it,” noting that “there is no current trend to reprint the current currencies with new copies.”

 

In response to a question about the possibility of issuing higher categories, between Al-Yasiri, that “the 50 thousand category is sufficient at the present time for the upper limit of the Iraqi currency, which is a very strong and sober category and can be used for storage, savings and cash transactions.”

 

He pointed out that “the size of the monetary mass circulating in banks and the public currently ranges between 83-84 trillion Iraqi dinars, and the new issuance of the 20,000 denomination will not change much of the volume of circulation because it will enter into the existing liquidity.”

 

He stressed that “the printing of the new category will not affect the value of the Iraqi currency and will not cause inflation, and the issue of inflation is linked to economic policies and has nothing to do with monetary circulation.” / End 8

 

Parliamentary Integrity Confirms The Theft Of Tax Funds That Exceeded (800) Million Dollars

 

Political | 08:09 – 06/10/2022   Baghdad – Mawazine News, a member of the Parliamentary Integrity Committee, Representative Ahmed Taha Al-Rubaie, confirmed that there is a theft in the revenues of the trust accounts belonging to the general tax in Rafidain Bank, which exceeds (800) million dollars, and no authority or entity can cover this theft or deny it in favor of the thieves of public money.

 

Al-Rubaie said in a statement that Mawazine News received a copy of it, “After we addressed the Ministry of Finance to provide us with the results of the investigative committees on the file of the loss of the revenues of the trust accounts belonging to the general tax in the Rafidain Bank, which is estimated at more than a trillion Iraqi dinars, and to indicate the real numbers of the amounts and suspects who They took the money illegally.”

 

He added, “The ministry replied that it had formed an investigation committee to conduct the administrative investigation into the matter, and the investigation committee recommended precautionary recommendations regarding what they were changed in the investigation, because the loss of these huge amounts from the account of the General Tax Authority was during the period of their administration and under their direct responsibility and powers.”

 

He continued, “The ministry is awaiting the judicial investigation, as the case is before the judiciary, which has a general mandate to protect public money.”

 

Al-Rubaie indicated that the answers of the Ministry of Finance confirm the existence of this theft, and no party or authority can cover it up or even deny it.

 

Al-Rubaie called on government and regulatory agencies to “prevent the travel of some managers and senior cadres in the Tax Authority who have been changed until the end of the administrative and judicial investigation.”    Al-Rubaie demanded the Federal Integrity Commission, to ”

LINK

Parliamentary Meeting Confirms The Amendment Of The Draft Mineral Investment Law

 

Political | 07:14 – 06/10/2022   Baghdad – Mawazine News, a joint meeting at the headquarters of the Parliamentary Committee on Economy, Industry and Trade discussed, today, Thursday, the draft mineral investment law and the introduction of amendments that would develop industry in Iraq.

 

The Media Department of the House of Representatives stated in a statement that Mawazine News received a copy of it, that “the Committee for Economy, Industry and Trade held today, headed by Deputy Mohamed Abd Rabbo, Vice Chairman of the Committee and in the presence of its members, a joint meeting with the Investment and Development Committee, in the presence of the advanced cadre in the Ministry of Industry and Minerals, to discuss a project Mineral Investment Law.

 

During the meeting held at the committee’s headquarters, the head of the session stressed the need to “proceed with the legislation of the law in line with the industrial reality, and to introduce amendments that would develop the industry in Iraq.”

 

The media department added, “The most important paragraphs of the draft law were discussed and it was agreed to take the proposals of the government side represented by the Ministry of Industry, as well as the private sector, including industrialists and factory owners. During the meeting, some paragraphs of the law were amended in preparation for its presentation for the first reading.”

 

And she added, “The meeting stressed the need to legislate such laws to contribute to the development of the investment of minerals in the ground, including quarries and mines, and to encourage foreign and Iraqi companies to invest in this vital sector.” Ended 29 / h

LINK

The Central Bank Of Iraq Announces Health Loans

 

Economie| 05:26 – 06/10/2022   Baghdad – Mawazine News   The Central Bank of Iraq announced the launch of health loans for people with cancer and chronic diseases.

LINK

The Dollar Is Rising In The Iraqi Market

 

Economie| 09:26 – 06/10/2022   Baghdad – Mawazine News, the dollar exchange rates rose, today, Thursday, in the local markets.  Selling  price: 147.900 dinars per $100 purchase price: 147.800 dinars per $100 LINK

The Iraqi Stock Exchange Announces The Weekly Trading Indicators

 

Economie| 04:59 – 06/10/2022   Baghdad – Mawazine News   The Iraqi Stock Exchange announced the indicators of the weekly trading, after holding four trading sessions from last Sunday to today Thursday, as the trading session was not organized for Monday.

 

And the market management stated in a statement received / Mawazine News / a copy of it, that “the Iraqi Stock Exchange organized during the first week of October 2022 four trading sessions from Sunday 10/022022 to Thursday 06/10/2022, As the trading session was not organized on Monday 03/10/2022 because it coincided with an official holiday.

 

They added, “During this week, the indicators below were achieved: The number of shares traded during this week amounted to more than 9 billion shares, and the value of shares traded this week amounted to more than 4 billion dinars.”

 

And she indicated, “The trading index in the market for the first session of the week closed at (603.33) points, while the index closed at the end of the week at (603.48) points, achieving an increase of (0.02%) from its closing in the first session, and it executed more than 2400 during the week. A contract of sale and purchase on the shares of companies listed in the market

LINK

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