Bondlady’s Corner Iraqi News Tuesday Evening

More Iraqi News Tuesday Evening 9-20-22

Tlm724 Administrator Bondlady’s Corner

The Appearance Of Muhammad Salih To / Nina /: The Window For Selling The Currency Represents The Stability Of The Purchasing Power And The External Value Of The National Currency

Tuesday 20 September 2022 09:46 | Economic Number of readings: 316   Baghdad / NINA / – The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the currency sale window represents stability of the purchasing power and the external value of the national currency.

 

He told the National Iraqi News Agency ( NINA ): There are basic functions undertaken by the central banks’ foreign exchange reserves, foremost of which is maintaining the stability of the external value of the national currency against the currencies of other countries, i.e. the stability of exchange rates.

 

Saleh added: The Central Bank’s practice of interfering in the exchange market, buying and selling, and addressing the high levels of local liquidity through its window, comes to bring about that stability that leads to the stability of the general level of prices and the maintenance of the stability of the purchasing power of the national currency.

 

He explained: The demand for foreign exchange represents a demand for foreign goods, services and benefits, and its flows to the local market constitute an important base of the rules for the stability of commodity supply in the country, which at the same time affects the stability of the general level of prices. / End 3  LINK

With The Participation Of Iraq .. The Opening Of The Work Of The General Assembly Of The United Nations

 

Tuesday 20 September 2022 16:17 | political Number of readings: 55   Baghdad / NINA / – The General Assembly of the United Nations opened its work with the participation of Iraq today./ Ended in  LINK

 

Integrity Reveals The Recruitment Of A General Manager In The Central Bank

 

Today, Tuesday, the Federal Integrity Commission announced the issuance of a summons order against a former general manager of the Central Bank; Accused of deliberately causing harm to the funds and interests of the entity in which he works.

 

The Commission’s Investigation Department said in a statement, “The Rusafa Investigation Court, which is specialized in integrity issues, issued an order to bring in the former Director General of the Administrative and Financial Department of the Central Bank of Iraq, against the background of the purchase of (10) machines known as “comprehensive machines” used for counting and sorting currency,” referring to the That “the purchase value of the machines amounted to (15,000,000) US dollars.”

 

The department added that “the Rusafa Investigation Court, which is specialized in integrity issues, decided to bring in the Director-General, in accordance with the provisions of Article (340) of the Penal Code.”     https://www.radionawa.com/all-detail.aspx?jimare=31261

 

Securities Introduces A Custodian Bank To Regulate Trading And Encourage Investment

 

Economie    Today, 12:14  Baghdad – INA  The Iraqi Stock Exchange announced, today, Tuesday, the creation of an electronic portfolio to organize trading and encourage investment.

 

A market statement received by the Iraqi News Agency (INA) stated that “based on the work plans of the Securities Commission and the Iraq Stock Exchange – for the year 2022, the Iraq Stock Exchange and Elaf Islamic Bank signed a license contract (Al-Hafiz Al-Amin) after the bank completed the requirements of the instructions of the custodian, the most important of which is obtaining the approval of the bank.

 

 

The Central Bank of Iraq and obtaining the approval of the Securities Commission and the Board of Governors of the Iraqi Stock Exchange and the preparation of the headquarters and staff of the Custodian of the Two Holy Mosques and their passing of training, and the  creation of the Back office system to manage the tasks set forth in the instructions from the outputs of the market and bank systems.”

 

The statement indicated that “the tasks of the (custodian) include contracting with investors wishing to receive the following services:

 

opening a securities account for each investor,  keeping the securities,   notifying the investor of all decisions and actions taken by joint stock companies related to the rights associated with his securities, and

 

notifying the investor of all The operations and transfers that took place on his account within a working day, in accordance with the notification method agreed upon between them, and

 

providing the investor with a detailed monthly account statement showing all the transactions and transfers that took place in his account, with a statement of his current balance of securities or cash.

 

He explained that “this step is considered positive as it works to attract Iraqi, Arab and foreign investors from outside Iraq, organize the mechanisms of capital movement in accordance with the mechanisms and rules of the banking system, and

 

organize the affairs of Iraqi and foreign investors who want the type of services provided by the trustworthy custodian that is recognized in the Arab and international financial markets and regulate the relationship.” With foreign banks in directing the funds prepared for investment in the shares of Iraqi joint stock companies,” noting that

 

“there will be licenses for other Iraqi banks very soon to expand the required structure for the base of services required – for the trustworthy custodian – for the same objectives and tasks it performs – set out in the instructions above.”     https://www.ina.iq/165926–.html

 

Iraq Will Meet With 3 Arab Countries Next Week To Discuss The File Of Economic Integration

 

Economie    Today, 19:18   Baghdad – Ia’a   Representatives from Iraq will meet next week with their counterparts in 3 Arab countries to discuss the file of economic integration, while the Iraqi and Lebanese sides agreed to export surplus agricultural products in both countries.

 

A spokesman for the Ministry of Agriculture, Hamid Al-Nayef, said in a statement received by the Iraqi News Agency (INA), that

 

“the Minister of Agriculture, Muhammad Al-Khafaji, held a joint meeting at the Ministry’s center this morning, Tuesday, with his Lebanese counterpart, Abbas Al-Hajj Hassan, in the presence of the Lebanese ambassador in Iraq and the head and members of the Baghdad Chamber of Commerce.”

 

And major traders and importers to discuss ways of joint cooperation in the field of commodity exchange between the two brotherly countries and ways to create an integrated economic environment between brotherly countries, including Lebanon, as well as overcoming the obstacles facing the export and import of agricultural products.

 

 

Al-Nayef added, “Minister Al-Khafaji affirmed the Iraqi government’s keenness, represented by the Ministry of Agriculture, to increase cooperation and agricultural trade exchange between Iraq and the brotherly Arab countries in all fields in a manner that serves common interests, in addition to facilitating procedures for the export and import processes and supporting merchants, exporters and importers.”

 

According to the statement,  Al-Khafaji agreed to a proposal to establish a joint Iraqi-Lebanese transport company that works to transport goods and agricultural products between the two countries and deliver them to consumers at the lowest prices and costs,

 

noting that “this process is done through the private sector and that the ministry will be supportive of it.”  Al-Khafaji explained, according to the statement, that

 

“the ministry protects the local product on one side and protects the consumer on the other hand, and this partnership does not affect the locally supplied products, as all imported products are not provided locally and according to the agricultural calendar that controls the import and export process.”

 

According to the statement, the Minister of Agriculture stressed the need to work hard to build a real partnership for economic integration between Iraq and Lebanon,

 

announcing the holding of a four-way meeting between Iraq, Syria, Lebanon and Jordan early next week in Amman in order to continue the search for possible means for the success of the process of economic integration between the four countries.

 

For his part, the Lebanese minister affirmed the depth of the brotherly relations between the two countries in all fields, noting that

 

“Lebanon has many agricultural crops that are surplus to need and it is possible to export them to Iraq, in addition to allowing the export of Iraqi agricultural products that are surplus to need, including dates, to Lebanon within the framework of the commodity exchange policy. agricultural products between the two countries.  LINK

 

Al-Kazemi’s Advisor Identifies Ways And Methods To Absorb Unemployment Levels

 

Sweetened    Today, 21:41   Baghdad – INA – Nassar Al-Hajj  , the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, today, Tuesday, ways to absorb unemployment in the country, while indicating that the private sector needs soft investment financing.

 

Saleh said, to the Iraqi News Agency (INA), that “the private sector in Iraq is in dire need of soft investment financing in order to achieve the country’s goals in revitalizing the role of the private sector by

 

real diversifying the sources of GDP and approaching the strategic goals to raise the percentage of the private sector’s contribution to the gross domestic product.”

 

The country will increase from 37% to 50% over the next ten years.

 

 

He pointed out in a talk about ways and methods to absorb unemployment, that “the coherence between the effective investment law and the privileges granted to investors on the one hand and the encouragement of small and medium-sized enterprises for the private sector on the other hand needs a soft government financing association,

 

which requires the activation of a civil development bank or a development fund that facilitates loans directed to activities investment in the private sector within a financing plan for the next ten years.

 

Saleh explained,  “The activity of the small and medium sector is responsible for absorbing more than half of the currently prevailing levels of unemployment in the country in the event of interest in it, and in accordance with a targeted economic and financing policy that supports the civil economy.”

 

He stated, “The monetary policy initiative of the Central Bank of Iraq for years to support civil production and investment activities requires at the same time an initiative undertaken by the fiscal policy in this regard to achieve the sustainability of markets active in production, investment, development and diversification of the areas of the national economy.”    https://www.ina.iq./165976–.html

 

The Governor Of The Central Bank Of Iraq Receives The Turkish Ambassador To Iraq

 

September 20, 2022  His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mikhaif, received the Turkish Ambassador to Iraq Alireza Konay and his accompanying delegation.

 

During the meeting, they discussed aspects of bilateral cooperation and enhancing them between Baghdad and Ankara, developing banking and economic relations between the two neighboring countries, and  facilitating the work of Turkish banks in Iraq.

 

His Excellency the Governor confirmed that our previous visit to Ankara and our meeting with His Excellency the Governor of the Central Bank of Turkey came with the aim of developing the bilateral relations that the bank aims to achieve through its openness to its counterparts in the countries of the world in a way that enhances its foreign relations.

 

His Excellency the Governor confirmed that the Central Bank of Iraq deals reciprocally through its policy that focuses on the interest of Iraq.       Central Bank of Iraq      information Office      September 20 2022

LINK

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