Iraqi News Highlights Sunday Evening 1-22-23
Tlm724 Administrator Bondlady’s Corner
The Development Bank Announces Its Willingness To Finance The Activities Of Merchants At An Exchange Rate Of 1470 Dinars To The Dollar
Economy News-Baghdad Member of the Union of Arab Banks, Ziad Khalaf, announced, on Sunday, the Development Bank’s willingness to finance the activities of merchants in dollars and at the exchange rate of 1470, with the aim of mitigating the impact of the exchange rate.
Khalaf said in a statement reported by the official newspaper, “The reality of the Iraqi economy and the challenges it is going through require achieving integration between all sectors to avoid negative effects, and the banking sector must be supportive of productive and service activities through the financing it provides to all sectors,” pointing out that “the Bank of Development has expressed its willingness to finance the activities of traders in dollars and at an exchange rate of 1470, and thus we can mitigate the impact of the exchange rate on goods and commodities within the local market.
He pointed out that “work is continuing to support small and medium enterprises in a step to activate the role of youth within society, and to restore the national product to existence.”
He added, “The banking system works and provides services despite the challenges and sets solutions,” noting that “the successes that are achieved in countries regionally and globally find behind them financial institutions supporting their activities,” noting that “businessmen and merchants we find them financing themselves from their money, and here is a good thing, but Business development and performance necessitate the existence of a banking system that supports its activities.
Khalaf continued, “We realize that the banking system represents a major axis in achieving economic advancement in all its aspects, and despite the challenges, we are working to consolidate the banking system and make it able to provide services that rise to the world in line with the needs of companies that need a high flow in the movement of their funds.” That “the expansion of the International Development Bank inside and outside the country is a pioneering step for the private banking sector in Iraq, and comes in line with the requirements of the next stage, which will witness wider openness to the world and require cooperation with international institutions and companies around the world.”
https://economy-news.net/content.php?id=32022
The Governor Of The Central Bank Is Discussing With Baroness Nicholson The Cooperation Between The Iraqi Banking Sector And The Iraqi-British Economic Center
Sunday 22 January 2023 13:32 | Economical Number of readings: 266 Baghdad / NINA / The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, discussed with Baroness Emma Nicholson ways of cooperation between the Iraqi banking sector and the Iraqi British Business Council.
Makhaif reviewed / according to a statement by the bank / a number of reforms adopted by the Central Bank, including the electronic platform for external transfer, launching a number of initiatives to support the Iraqi economy and stimulate the real sector, and follow up on exchange rates, in a way that reduces the gap between the official rate and market prices.
For her part, the Baroness expressed her interest in the reform steps in the banking sector, and the promising investment opportunities in Iraq, especially after the stability the country witnessed politically and economically.
Nicholson praised the new building of the Central Bank of Iraq and the aesthetic and urban value that it will add to Baghdad, as well as the speed in its completion./ End
https://ninanews.com/Website/News/Details?key=1028334
Iraqi Oil Exports To America Rise To 200 Thousand Barrels Per Day
Energy Economy News-Baghdad The US Energy Information Administration announced, on Sunday, that Iraq’s oil exports to America rose to more than 200,000 barrels per day during the past week.
The administration said in a report, “The average US imports of crude oil during the past week from eight countries amounted to 5.677 million barrels per day, up by 353 thousand barrels per day from the previous week, which amounted to 5.677 million barrels per day.”
She added, “Iraq’s oil exports to America amounted to an average of 201,000 barrels per day last week, up from the previous week, when oil exports to America amounted to 150,000 barrels per day.”
She pointed out that “most of America’s oil revenues during the past week came from Canada at a rate of 3.707 million barrels per day, followed by Mexico at a rate of 909 thousand barrels per day, and oil revenues from Saudi Arabia at a rate of 453 thousand barrels per day, and then Colombia at a rate of 245 thousand barrels per day.” .
According to the administration, “the amount of US imports of crude oil from Nigeria amounted to an average of 211,000 barrels per day, from Brazil at a rate of 172,000 barrels per day, and from Libya an average of 132,000 barrels per day, while Russia or Ecuador did not import any amount.”
https://economy-news.net/content.php?id=32015
Prime Ministers And The Federal Court Emphasize The Fight Against The Scourge Of Corruption
Money and business Economy News-Baghdad Today, Sunday, Prime Minister Muhammad Shia Al-Sudani and the Federal Court, Jassim Muhammad Abboud, stressed the principle of the rule of law and the peaceful transfer of power, while stressing the need to overcome challenges and fight the scourge of corruption.
A statement by the Federal Supreme Court stated, “Prime Minister Muhammad Shia’ al-Sudani visited the Federal Supreme Court, and he was received by the President of the Court, Judge Jassim Muhammad Abboud, and members of the Federal Supreme Court.”
He pointed out, “Several files were discussed, including those related to the Federal Supreme Court and its role in protecting the constitution, public and private rights and freedoms, and emphasizing the principle of the rule of law and the peaceful transfer of power through democratic means stipulated in the constitution.”
He continued, “It was also stressed the need to overcome the political, economic and social challenges facing the Iraqi people and the current government, and that Iraq, by virtue of its history and by virtue of its economic and human capabilities, is capable of building a strong, modern, civil state based on citizenship.”
During the meeting, the two presidents affirmed that “the scourge of corruption requires a real national intention to fight it, and that the Iraqi people, with their moral foundations, are able to overcome them because their values reject everything that contradicts them, and they are determined with all their nationalities and components to build their state.” https://economy-news.net/content.php?id=32023
Central Bank Sales Exceed $80 Million
Economy News-Baghdad The Central Bank of Iraq’s dollar cash sales increased in an auction, on Sunday, at the expense of foreign transfers.
Statistics published by the bank showed that today’s auction for buying and selling US dollars witnessed the sale of 87,437,882 dollars, which the bank covered at a base exchange rate of 1,460 dinars per dollar.
Most of the dollar sales went in the form of cash, amounting to 51 million and 700 thousand dollars, while the rest of 35 million, 737 thousand and 882 dollars went to strengthening balances abroad in the form of transfers and credits.
The banks that bought the cash dollar amounted to 16 banks, while the number of banks that responded to requests for strengthening balances abroad reached 14 banks, while the total number of exchange and mediation companies participating in the auction was 210 companies.
https://economy-news.net/content.php?id=32024
Central Bank: The Decision To Activate Electronic Payment Includes The Government And Private Sectors
Economie| 02:40 – 01/21/2023 Baghdad – Mawazine News The Central Bank of Iraq confirmed, on Saturday, that the use of electronic payment tools will be circulated in the government and private sectors in a binding manner.
The bank’s deputy governor, Ammar Hamad Khalaf, said, “The cabinet’s decision to activate electronic payment in all joints aims to reduce the use of cash and increase dealing with funds electronically through the use of cards, and it is an important complement to the salary settlement project, which began to be implemented several years ago.”
He added, “The decision will enable the bank to implement a mechanism that enables employees to receive their salaries through the payment cards currently used, such as the MasterCard, and it is filled into their bank balance without the need to receive cash.”
He continued, ” Khalaf indicated in an interview with the official news agency, which was followed by Mawazine News, that “payment via electronic devices will reduce cash circulation, and it is better in terms of saving money and safer than transferring it.” Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=217190
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