Iraqi News

Iraqi News Highlights and Points to Ponder Saturday Afternoon 12-2-23

The Central Bank Delivers A Devastating Blow To “Sailors”

ATM   Drains    The Central Bank of Iraq decided to deal a severe blow to people who use bank cards outside Iraq, in order to smuggle dollars.

The Iraqis called “sailors” to these people who reside in Dubai and use ATMs and points of sale.

An informed source told Al-Iqtisad News that the Central Bank obligated electronic payment companies to set the limits on cards for withdrawal and purchase outside Iraq, in order to limit people’s use of bank cards to smuggle dollars outside official controls.

The source, who preferred to remain anonymous, confirmed that these people were smuggling hundreds of bank cards from Iraq towards Dubai, and a group of people called “sailors” used them to withdraw from ATMs, in addition to agreements with shop owners to withdraw from POS machines under the pretext of purchasing goods in the country. Dubai.

The source indicated that this measure will lead to a rise in the exchange rate of the dollar in the parallel market, and the features of this rise will appear during the next two days, adding that the measure will contribute to forcing all people to deal with banks and make financial transfers at an exchange rate of 1,320 dinars.

The Central Bank set the ceiling as follows:

1. Ceilings for cards in US dollars outside Iraq

   – Monthly limit: $3780

Its equivalent in Iraqi dinars is 5,000,000 dinars

2. Daily cash withdrawal limits from automated teller machines (ATM) outside Iraq

   – Daily limit: 110 US dollars, or the equivalent of 150,000 Iraqi dinars

3. Monthly cash withdrawal limits from automated teller machines (ATM) outside Iraq

   – Monthly limit: 1,130 US dollars, or the equivalent of 1,500,000 Iraqi dinars.

4. Limits on the daily use of cards in electronic stores, online shopping, POS, and electronic payment outside Iraq

   – Daily limit: 370 US dollars, or the equivalent of 500,000 Iraqi dinars

5. Limits on the monthly use of cards in electronic stores and online shopping (POS and electronic payment) outside Iraq

   – Monthly limit: 3780 US dollars or the equivalent of 5,000,000 Iraqi dinars

Views 89 12/02/2023 – https://economy-news.net/content.php?id=38040

Winning The Gulf Cup, Changing The Exchange Rate, And Dismissing Al-Halbousi… A List Of The Most Prominent Events In Iraq In 2023

Baghdad today – Baghdad    The year 2023 was an exceptional year, in which prominent events varied between sports, economic, political, and security, and despite the surprises and abnormal events, the year was relatively calm and these surprises did not lead to any major political crises.

In this mini report, Baghdad Today Agency reviews a list of the 12 most prominent events that Iraq witnessed during the current year:

In January of this year, Iraq won the Gulf Cup for the fourth time in its history, after defeating its Omani counterpart by three goals to two, in a confrontation held on the grounds of Basra International Stadium.

In February, the Central Bank of Iraq, in coordination with the Iraqi government, decided to raise the value of the Iraqi dinar against the dollar from 1,460 to 1,320 dinars per dollar, as part of attempts to alleviate the crisis of the high dollar exchange rates in the parallel market and its impact on citizens on inflation and market prices.

In March, the export of Iraqi oil from the Kurdistan Region and Kirkuk through the Turkish port of Ceyhan was stopped, after the Paris Chamber of Commerce Court issued a ruling in favor of Iraq, in the lawsuit filed years ago against Turkey, for allowing the export of Kurdistan Region’s oil without coordination with Baghdad.

In April, Nineveh Governorate witnessed the holding of the Spring Festival in Mosul after a 20-year hiatus, and the forum witnessed exceptional scenes and paradoxes.

In May, the Federal Supreme Court issued a decision unconstitutional to extend the work of the Kurdistan Regional Parliament and decided to dissolve the parliament.

In June, Iraq witnessed widespread uproar, demonstrations, religious and political stances, and the storming of the Swedish embassy after Iraqi Silwan Mumika burned a copy of the Qur’an in Sweden.

In July, social networking sites and security and political circles were abuzz with an incident of two women assaulting a traffic policeman in the Al-Harithiya area in Baghdad, while information indicated that the two women were related to State of Law representative Bahaa Al-Nouri, which prompted the State of Law bloc to expel Representative Bahaa Al-Nouri.

In August, the media and political circles were abuzz with an American build-up on the Iraqi-Syrian border, and many speculations and warnings were circulated, and while the American side said that what was happening were normal measures to replace forces, Iranian and Syrian information indicated that these movements aimed to cut off The road between Iran and Syria is via Iraq.

In September, events broke out in the vicinity of the advanced headquarters for joint operations in Kirkuk, which led to 4 casualties and 16 wounded as a result of clashes and gunfire due to the tension of events in the vicinity of the advanced headquarters for joint operations in Kirkuk, which was occupied by the Kurdistan Democratic Party before the events of Kirkuk in 2017, as the agreement pushed The policy that was calling for the headquarters to be returned to the Kurdistan Democratic Party led to the Arabs of Kirkuk province going out with sit-ins in front of the headquarters in refusal to hand it over, before the events became tense.

In October, scenes of the bombing of American headquarters and bases by “resistance factions” resumed, more than a year after these scenes stopped. The decision to re-target came against the backdrop of the events in Gaza and the American side’s declaration of support and support for the Zionist entity in the genocide in Gaza.

In November, the Federal Supreme Court decided to terminate Parliament Speaker Muhammad Al-Halbousi’s membership in the House of Representatives, against the backdrop of a lawsuit filed by former MP Laith Al-Dulaimi, accusing Al-Halbousi of forging Al-Dulaimi’s resignation and forcing him to sign a white paper.

On December 18, it is hoped that provincial council elections will be held for the first time in 10 years, as they were last held in 2013.   LINK

Al-Sudani From Basra: The Government Has Placed Reform Of The Economy Among Its Five Priorities

Politics |Baghdad today – Basra  Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday (December 2, 2023), that the government has placed among its five priorities reforming the country’s economy.

Al-Sudani said in his speech during the Industrial Partnerships Forum in Basra Governorate, followed by “Baghdad Today”: “We welcome investment companies to the Industrial Partnerships Forum,” indicating that “the government has placed among its five priorities reforming the economy.”

He added, “The economy cannot be reformed except by supporting industry, agriculture, tourism, and trade,” pointing out that “the natural resources we have enable us to establish an advanced Iraqi industry that meets our local needs and from which we can export.”

Al-Sudani pointed out that “we cannot remain spectators while Iraq remains a consumer market.”

In a separate matter, the Prime Minister explained that “the state cannot employ all the huge numbers of graduates,” stressing that “it is time for the Iraqi economy to be linked to the global economic cycle.”

Earlier today, Prime Minister Muhammad Shiaa Al-Sudani arrived in Basra Governorate.  LINK 

Provoking Points to Ponder on Experiences:

Experience keeps a dear school; but fools will learn in no other, and scarce in that; for it is true we may give advice, but we cannot give conduct – Franklin

No man was ever so completely skilled in the conduct of life, as not to receive new information from age and experience – Terrence

Adversity is the first path to truth – He who hath proved war, storm, or woman’s  rage, whether his winters be eighteen or eighty, hath won the experience  is deemed so weighty – Byron

It is foolish to try to live on past experience – It is a very dangerous, if not a fatal habit to judge ourselves to be safe because of something that we felt or did twenty years ago –Spurgeon

It may serve us as a comfort to us in all our calamities and afflictions, that he who loses anything and gets wisdom by it, is a gainer by the loss – L’Estrange

Experience is a jewel, and  it had need be so, for it is often purchased at an infinite rate – Shakespeare

He hazardeth much who depends for his learning on experience – An unhappy master is he who is made wise only by many shipwrecks;  a miserable merchant who is neither rich nor wise till he has been bankrupt – By experience we find out a short way by long wondering – Roger Ascham

Experience is the common schoolhouse of fools and ill men – Men of wit and honesty are otherwise instructed – Erasmus

We are often prophets to others, only because we are our own historians – Mad. Swetchine

Experience teaches slowly, and at the cost of mistakes – Froude

Experience is a safe light to walk by, and he is not a rash man who expects success in the future by the same means which secured it in the past – Wendell Phillips