Iraqi News Highlights Tuesday Evening 12-6-22
Tlm724 Administrator Bondlady’s Corner
To 96 Trillion.. The Association Of Banks Announces A “Rise” In Deposits In The Private Banking Sector
December 5, 2022 8:06 PM Baghdad / The National News Center, the regional director of the Association of Iraqi Private Banks, Muhammad Handal, announced today, Monday, that deposits in the private banking sector have risen to 96 trillion dinars, while credit, cash and pledge loans amounted to 80 trillion.
Handal said, in a speech during his participation in the Banking Development Conference in Erbil and followed by the / National News Center / that “there are those who compare the external banking sector with the Iraqi sector, but is the work environment in Iraq in general, like the work environment abroad?”
He added, “There are 15 million bank cards in Iraq, of all kinds, in addition to more than 1,600 sales centers and more than 15,000 exchange devices,” noting that “the number of electronic wallets amounted to more than 2 million wallets, which helped expand financial inclusion in the country by 33%.
And he explained that “the Central Bank took the initiative during the past years to build a strong, sound and stable system, which has a very big role in achieving financial and economic stability, in addition to the methodology adopted by the Central Bank of Iraq, and applied by banks and electronic defense companies, which resulted in work under a legislative, regulatory and legal umbrella.” sound.”
He pointed out that “the capital of private banks amounted to 17.8 trillion dinars, and assets amounted to 159 trillion, and deposits witnessed a very large growth rate due to the central bank’s policy, to reach 96 trillion dinars, while credit, cash and pledge loans amounted to 80 trillion,” calling for “a 10% deposit.” From oil revenues in private banks to develop the private banking sector. https://nnciraq.com/170021/
“Fighting Corruption And Preserving Money” Is On The Table Of The President Of The Republic And The First Deputy Of Parliament
Tuesday, December 6, 2022 4:12 PM Baghdad / The National News Center, President of the Republic, Abdul Latif Jamal Rashid, and First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, affirmed today, Tuesday, the government’s support in implementing its ministerial platform.
The media office of the First Deputy Speaker of the House of Representatives stated in a statement received by the National News Center/ that “Al-Mandalawi met Rashid today, to discuss the overall security, economic and political situation in the country, and during the meeting, emphasis was placed on supporting the government in implementing its ministerial platform and monitoring its performance, to enhance anti-corruption steps.” and measures to save public money.
He added, “The meeting witnessed an emphasis on the enactment of important laws, especially the general budget law, laws with a service dimension, investment and revitalization of the private sector, and a call for concerted efforts and continued coordination between the presidencies to provide the maximum possible service to citizens.” https://nnciraq.com/170251/
The Funds Of The Food Security Law Will Be Part Of The Budget For Next Year
Mazhar Muhammad Salih to / NINA /: Tuesday 06 December 2022 10:55 | Genera lNumber of readings: 325 Baghdad / NINA / – The financial expert, Mazhar Muhammad Salih, confirmed: The funds of the Food Security Law will be part of the next year’s budget.
He told the National Iraqi News Agency / NINA /: that once the federal general budget law is issued for the next year, the financial agencies will work unifiedly in accordance with the principles of the effective financial management law, which requires the unity of the general budget in spending and revenue.
Saleh added: The articles of the general budget law for the next year should absorb the remnants of the financial obligations stipulated in the Emergency Law for Food Security and Development No. 2 of 2022, so that this law and the obligations contained therein become an integral part of the next federal general budget law.
He explained: It is not permissible to spend under any pretext outside the General Budget Law in one fiscal year in which the law enacts that based on the provisions of Article 51 of the amended Financial Management Law No. 6 of 2019, which stipulates adherence to the principles of the budget in terms of budget unity, comprehensiveness and annuality, unless otherwise stipulated in the The same budget law regarding the mechanism for dealing with the remnants of unspent allocated allocations in the aforementioned Emergency Law for Food Security and Development No. 2 of 2022 and considers it an exceptional case.
Such a matter leaves its appreciation to the executive authority when preparing the texts of the draft federal budget law for the next year. / https://ninanews.com/Website/News/Details?Key=1018465
High Dollar Exchange Rates In The Local Markets
Economie| 10:07 – 06/12/2022 Baghdad – Mawazine News Today, Tuesday, the exchange rates of the dollar witnessed a new rise in the local stock exchange.
The selling price of the dollar was 149,600 dinars per 100 dollars, while the buying price of the dollar was 149,500 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470). dinars for every dollar. Ended 29/M99 https://www.mawazin.net/Details.aspx?jimare=213355
High Oil Prices
Economie| 08:36 – 06/12/2022 Follow-up – Mawazine News Oil prices rose on Tuesday, after the Group of Seven entered into force a maximum price of Russian seaborne oil into effect on Monday at the summit of the European Union’s ban on Russian crude imports by sea.
Brent crude futures rose 48 cents to $83.16 a barrel by 04:27 GMT. West Texas Intermediate crude rose 50 cents to $77.43 a barrel.
Futures fell more than 3% in the previous session, after US service sector data raised concerns that the Federal Reserve may continue its monetary tightening path.
The G7 price cap comes as the West tries to restrict Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it is forced to cut production.
The G7 countries and Australia last week agreed to a cap of $60 a barrel for Russian oil carried by sea.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, called the OPEC+ community, agreed on Sunday to stick to their October plan to cut output by 2 million barrels per day starting in November.
In China, more cities eased COVID restrictions over the weekend, fueling optimism about increased demand in the world’s largest oil importer. https://www.mawazin.net/Details.aspx?jimare=213350
Iraq Reaps 107 Billion Dollars From Oil Revenues During The Current Year
Economie| 10:55 – 06/12/2022 Baghdad – Mawazine News Iraqi oil revenues from crude oil that was exported during the 11 months of the current year 2022 amounted to about $107 billion.
According to the statistics of the “SOMO” company, “the revenues of the Iraqi oil source during the first 11 months of the current year 2022 amounted to 107 billion and 877 million and 786 thousand and 336 dollars, at a monthly rate of 9 billion and 807 million and 71 million and 485 dollars.”
And she added, “These revenues increased from last year 2021 by 57 percent, as the financial revenues amounted to 68 billion, 258 million, 861 thousand, and 485 dollars, at a rate of 6 billion, 205 million, 351 thousand, and 44 dollars.”
The company’s statistics also indicated that “the month of May of the current year 2022 witnessed the highest financial revenue from oil sales, reaching 11 billion 477 million 514 thousand and 4 dollars, while the month of January was the lowest month in terms of revenues, amounting to 8 billion 322 million 679 thousand.” And 526 dollars.
Iraq relies 96 percent on oil revenues in its general budget, and the previous government was subjected to great pressures with its inability to pay employee salaries and other operating expenses as a result of the drop in oil prices below $30 a barrel at the beginning of the year 2020 with the spread of Covid-19 disease before it returned. Prices to rise again. https://www.mawazin.net/Details.aspx?jimare=213357
Al-Halbousi And The US Ambassador Discuss Strengthening The Partnership Between Baghdad And Washington
Political | 01:35 – 06/12/2022 Baghdad – Mawazine News, Parliament Speaker Muhammad al-Halbousi received, on Tuesday, the US Ambassador to Iraq, Alina Romanowski.
The meeting discussed “Iraqi-American relations, ways to develop them, and strengthen the existing partnership between the two countries in various fields.”
The meeting also discussed, according to a statement by Al-Halbousi’s office, “the general situation in the country, and a number of issues of common interest.” https://www.mawazin.net/Details.aspx?jimare=213372
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