More Iraqi News Thursday Evening 9-8-22
Tlm724 Administrator Bondlady’s Corner
The Central Bank Issues A Statement On Its Annual Financial Stability Report For 2021
September 07, 2022 The Central Bank of Iraq issued a brief statement on its annual report on the special financial stability of the year 2021,
which included a set of financial and monetary indicators that reflect the performance of the Iraqi financial and banking sector,
and to diagnose challenges and opportunities for this important sector in the economy, and
the report pointed to an increase in the growth of extreme banking deposits (96) trillion dinars for the year 2021, with an increase of (13.1%) from the year 2020,
while bank credit in the public and private sectors increased to (80.62) trillion dinars for 2021 by an increase of (7.1%) from the year 2020.
The indicators of financial inclusion improved By adopting the project (financial inclusion of a new economic start),
the report revealed an increase in the assembly index of financial inclusion from (20.85%) in 2017 to (33.5%) in 2021, while
the rate of private sector credit in the gross domestic product increased to (13.4%) In 2021,
the assembly index of financial stability in Iraq rose to (0.656) in the same year;
As a result of adopting the policies of achieving financial stability through the application of Basel requirements and the international standard of financial reports No. (9), as well as other requirements for the banking sector. https://cbi.iq/news/view/2078
To follow the detailed report (click here) http://cbi.iq/static/uploads/up/file-165899787433978.pdf
note – a similar article already posted in Ms. Timmy’s Thread
This article includes the link to the detailed report
The Board Of Directors Of The Center For Banking Studies Holds Its Second Meeting For The Year 2022
September 07, 2022 The Board of Directors of the Center for Banking Studies at the Central Bank of Iraq held its second meeting for the current year 2022, headed by Dr. Ammar Hamad Khalaf, Deputy Governor of the Central Bank.
The Council discussed the issues listed in its agenda, as
it reviewed the achievements achieved by the center during the first half of this year,
as well as discussing the completion rate of the annual plan that includes the establishment of a series of workshops and courses.
The Council discussed the direction of His Excellency the Governor of the Central Bank, Mr. Mustafa Ghaleb Makhif, to
start implementing the training plan for higher leadership positions in all banks, as well as for the new semen, and
the members of the Council reviewed the domestic controls of the Center for Banking Studies, and
they took a number of decisions regarding the topics included in the agenda that It would facilitate administrative procedures for the work of the center.
The Central Bank of Iraq information Office 7 – September – 2022 https://cbi.iq/news/view/2077
Tax Accounting
September 08, 2022 The Central Bank of Iraq would like to inform the providers of electronic payment services to grant them a period of three months from the date of submitting the final accounts before it, to obtain tax accounting, or proof of its postponement from the tax authority within the relevant legal articles. https://cbi.iq/news/view/2082
The Central Bank Decides To Activate The Procedures For Verifying Licenses To Import Goods And Merchandise
Fri 02, Sep 2022 14:16 | Economic Number of readings: 700 Baghdad / NINA / – The Central Bank of Iraq decided to oblige all banks to activate the procedures for verifying import licenses for participants in the hard currency sale window for the purpose of importing goods and commodities. https://ninanews.com/Website/News/Details?key=997831
https://images.weserv.nl/?url=ninanews.net/Uploads/Images/2022/9/997831-5067a74d-64e9-4079-9305-8de212a7248b.jpeg
Baghdad Today” Is Investigating The Presence Of The “Israeli Dollar” In The Iraqi Markets
2,182 Economie 07/09/2022 22:24 Baghdad today – Baghda Informed sources revealed, on Wednesday, the fact that the Israeli dollar entered the Iraqi market, indicating that
influential mafias are working on smuggling and counterfeiting currency. The sources said in an interview with (Baghdad Today), that
“counterfeiting foreign currencies is a global phenomenon that most countries suffer from in light of the presence of mafias with great capabilities,
but the use of advanced security means contributed to reducing the rate of counterfeiting by a high percentage, especially for hard currencies, including the dollar in the past years.” She added,
“Talking about the entry of the so-called Israeli dollar, which is the most famous and complex type of counterfeit edition, is inaccurate,
but there is actually a promotion of counterfeit money, whether foreign or Iraqi currencies, and it is followed up.
Some networks have been dismantled in the past months and money has been seized.”
As for Khalil Al-Rashidi, owner of exchange offices, he said,
“Forgery of foreign currencies is developing greatly because it is run by large international mafias, and
we do not rule out that part of the amounts of counterfeit money entered the markets, especially since there are networks to market it.” Al-Rashidi added,
“Most of the exchange offices deal cautiously with foreign currencies and have experience in detecting counterfeit through some machines,
but there are actually very complex editions with very advanced counterfeiting tracks, which requires more efforts to detect it.” https://baghdadtoday.news/ar/news/200005/بغداد-اليوم-تتقصى-عن-وجو
An Economist Explains The Nature Of The Defect In Central Bank Sales And Financial Transfer
September 7 09:22 Information / Baghdad…
The economic expert, Mustafa Akram Hantoush, explained the nature of the defect in the central bank’s sales system and the financial transfer of foreign currency.
Hantoush told Al-Maalouma that
“the central bank sells daily more than 200 million dollars as a level within 4 months, of which 25-30 million goes to the local market, while the remaining 170 million goes to foreign remittances for the purpose of import.” He added,
“The problem lies in the open credits through which funds are transferred, so that the goods enter Iraq or not, the Central Bank is not aware of it, and
this is one of the biggest mistakes, as there is coordination and linkage between the Central Bank and the Remittance Department and the Customs Authority in most countries of the world.”
The credit is opened and the money is placed in the credit trust account until the goods enter the country and
a signal is given to the customs that it has entered the required specifications so that the amount is transferred from the documentary credits trust account to the executed documentary credits account. Hantoush pointed out that
“Iraq adopts direct accreditation so that the goods enter or do not reach the country, the competent authorities do not know whether the money has arrived or not, and
this falls within the door of money laundering and corruption, and therefore
Iraq urgently needs to link the customs authority with the central bank in order to legalize matters and prevent Transfer of funds in documentary credits except after the goods enter Iraq.
https://almaalomah.me/news/economy/خبير-اقتصادي-يوضح-طبيعة-الخلل-في-مبيعات-البنك-المركزي-والتحو
The Iraqi Government: Public Expenditures Constitute 50% Of The Gross Domestic Product
economy Iraq breaking expenses total product 2022-09-07 05:43 Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said today, Wednesday, that
government expenditures today constitute 50% of the gross domestic product, stressing that
the continuation of exchange operations for public expenditures will be 1/12 for the next year 2023..
Saleh said in an interview with Shafaq News Agency that
the government will continue the exchange process even if it does not approve or delay the 2023 budget,” noting that
“government expenditures today constitute 50 of the gross domestic product.” He added that
“the economic cycle depends on government sources and therefore cannot be stopped, as the cessation of government spending ends life in Iraq and there can be no controversy in it, but an existential issue,” stressing that
“the disbursement will be 1 over 12 of the actual actual current expenses achieved with security expenses.” Food in 2022 even if the 2023 budget is not approved or delayed. Saleh also pointed out that
“life and requirements grow and public finances if they stop, which means that the wheel of life and growth in Iraq has stopped,
so the exchange continues until life continues,” noting that
“these are minimum budgets that also pour into the spending on unfinished ongoing projects.”
And the government failed to approve the general budget for the year 2022 as a result of Parliament’s inability to form the new Iraqi government and to continue after that as a result of political instability and interactions between the political blocs and is expected to continue until 2023.
https://shafaq.com/ar/اقتصـاد/الحكومة-العراقية-النفقات-العامة-تشكل-50-من-الناتج-المحلي-ال-جمالي
With Documents, The Sadrist Bloc Files A Lawsuit Against Nuri Al-Maliki
4,696 Policy 07/09/2022 12:21 Baghdad today – Baghdad
Today, Wednesday, the Sadrist bloc filed a lawsuit against the head of the State of Law coalition, Nuri al-Maliki, against the background of leaks that spread on social media in the recent period.
The document obtained by (Baghdad Today), showed that
“the Secretary-General of the Sadrist bloc, Nassar Zughayer al-Rubaie, demanded the Third Karkh Court to take legal measures against the head of the State of Law coalition, Nuri al-Maliki, for what he issued from a clear threat to the Sadrist movement, and expressions that are inappropriate for the sacrifices of the security forces.”. And the document demanded,
“issuing an arrest warrant against the defendant, and we also demand that an order be issued to prevent him from traveling and to notify the airports and ports (border) of that.” https://baghdadtoday.news/news/199982/بالوثائق-الكتلة-الصدرية-
The text of the document is below: https://baghdadtoday.news/template/admin/js/ckeditor/plugins/fileman/Uploads/%D9%85%D8%A7%D8%A7%D8%A711.jpeg
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