Iraqi News Highlights Sunday Evening 5-14-23
Tlm724 Administrator Bondlady’s Corner
The Central Bank Governor Comments On The Recent Rise In The Dollar Exchange Rate
Economy News – Baghdad The Governor of the Central Bank, Ali Al-Alaq, affirmed, on Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems, and while he referred to the implementation of purchase requests from merchants and citizens as a whole, he pointed out that those who refrain from buying from official platforms may have problems and illegal dealings.
Al-Alaq said in a statement to the Iraqi News Agency that “the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price.”
He added, “The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction.”
He explained that “the Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions.”
He pointed out, “Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs.” Views 1172 05/13/2023 – https://economy-news.net/content.php?id=34180
The Iraq Stock Exchange Trades Shares Worth 11 Billion Dinars In A Week
Money and business Economy News – Baghdad The Iraqi Stock Exchange announced, on Sunday, the trading of shares with a financial value that exceeded 11 billion dinars during the past week.
A report on the market stated that “the number of companies whose shares were traded during the past week amounted to 52 joint-stock companies, while the shares of 48 companies did not trade because the prices of purchase orders did not meet with the sales orders, while two companies continue to stop for not providing disclosure out of the 103 companies listed in the market.”
He added, “The number of traded shares amounted to 27 billion and 36 million and 974 thousand shares, an increase of 388% compared to the previous week, with a financial value of 11 billion, 590 million and 980 thousand dinars, down by 9% compared to the previous week through the implementation of 2529 deals.”
He pointed out that “the ISX60 traded prices index closed at 670.79 points, recording a decrease of 1.38% from its closing level in the previous session.”
And he indicated that “the number of shares purchased from non-Iraqi investors for the past week amounted to 68 million shares, with a financial value of 139 million dinars, through the implementation of 52 deals, while the number of shares sold from non-Iraqi investors reached 3 million shares, with a financial value of 15 million dinars, through the implementation of 13 transactions.” “.
Preventing Merchants And Citizens From Dealing In Dollars In Local Markets
Economy| 08:36 – 05/14/2023 Baghdad – Mawazine News The Ministry of Interior prevented merchants and citizens from dealing in dollars in markets and shops, and limited this process to dinars.
The Director of Operations Department at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi, said during a monitoring campaign that was launched in this regard, “The Organized Crime Directorate at the Ministry of Interior issued a circular banning merchants and citizens from dealing in markets, shops and commercial centers in dollars and limiting this process to dinars, and this comes within the campaign it launched.” The ministry, in coordination with the Central Bank, under the title of supporting the Iraqi dinar.
Al-Tamimi said, “Written pledges were taken from the owners of shops and commercial centers that dealings would be in dinars instead of dollars,” pointing to “the deployment of civilian detachments to take legal measures against violators.”
He pointed out, “The directorate aims, through the campaign, to limit the exploitation of weak-minded people by the discrepancy in dollar prices and selling them goods or materials of all kinds in this currency,” according to the official newspaper, Al-Sabah.
He added, “The Directorate specified dealing in dollars exclusively in the central bank and exchange offices authorized by it,” noting that “the Directorate of Combating Organized Crime continues to intensify its campaigns to monitor the high prices of food and medicine in the local markets in Baghdad, in coordination with the commercial and intelligence control departments to detect price manipulators.” or monopolists of commodities and merchandise.
Al-Tamimi continued, “The commercial control compares prices according to the pricing of the Ministry of Commerce and the invoices of merchants to detect weak-minded people taking advantage of the high dollar prices.” Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=226802
Central Bank: Illegal Dealings Are Behind Some People’s Refusal To Buy Dollars From Our Platforms
Economy| 06:40 – 05/13/2023 Baghdad – Mawazine News, the Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems. illegal.
Al-Alaq said to the official agency, followed by Mawazine News, that “the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price.”
He added, “The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction.”
And he continued, “The Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions.”
And he pointed out, “Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs.” https://www.mawazin.net/Details.aspx?jimare=226777
Over $222 Million Central Bank Sales At Auction Today
Economy| 01:20 – 05/14/2023 Baghdad – Mawazine News recorded the Central Bank’s sales of dollars in an auction today, Sunday, more than 222 million dollars. https://www.mawazin.net/Details.aspx?jimare=226825
In The Document.. The Central Bank Explains The Procedures For Reducing The Exchange Rate By 7 Points
Today 15:08 In the document.. The Central Bank explains the procedures for reducing the exchange rate by 7 points
https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg
https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا
[Partial and incomplete Translation of https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg
Date: 2023/5/4
To / Mr. Representative Muhammad Jassim Muhammad Ali Al-Khafaji, the honorable
M / Parliamentary question
Referring to your letter numbered M22/937 on 4/60/2023, we would like to state the following:
1[. The main functions of the Central Bank of Iraq is the management of monetary policy, which
It aims to control inflation, stimulate the economy, balance the balance of payments, and achieve stability
Execution by controlling the exchange rate of the US dollar through the currency sale window.
- That all import operations are carried out according to the official price of 1320 dinars per dollar, as it meets this! the bank
Demands for cash dollars for travel and medical purposes are at the same official rate.
- Iraq is a net importer of most commodities and merchandise due to the lack of a productive apparatus that meets
domestic demand; The reduction of the exchange rate of the US dollar against the Iraqi dinar leads to
Make the prices of imported goods cheaper for residents within the country.
- The decision to raise the value of the Iraqi dinar is commensurate with the rise in the current account of the balance
Payments, especially in light of the increase in foreign reserves, which exceeded 110 billion dollars
American; The flight also curbed inflationary expectations, which have worsened in recent months.
- The difference between the official exchange rate and the market rate is due to several factors, including establishment
The new electronic platform between the Central Bank of Iraq and the participating commercial banks
The window to process external transfer requests, which led to restricting the supply of foreign currencies
It is supposed to be temporary until the banks adapt to the new situation
https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا
Parliamentary Finance: Allocating One Trillion Dinars To Implement The Projects Of The Iraq Development Fund
Political Yesterday, 17:06 Baghdad – conscious Today, Sunday, the Parliamentary Finance Committee announced the allocation of one trillion dinars to implement the projects of the Iraq Development Fund.
And the media department of the House of Representatives stated, in a statement received by the Iraqi News Agency (INA), that
“the Finance Committee hosted, headed by Representative Atwan Al-Atwani, and in the presence of its members, Advisor to the Prime Minister, Muhammad Al-Najjar, to review the programs listed for the Iraq Fund for Development and projects that support the private sector to create development and investment opportunities.” The statement added,
“The committee welcomed the advisor to the prime minister, and clarified about the idea of establishing the Iraq Fund for Internal Development to improve the attractive investment environment and launch sustainable economic and social development.” He added,
“An amount (one trillion) dinars has been allocated to implement the projects included in the fund, and to accelerate the Iraqi economy to supplement the budget and the state treasury,” noting that
“projects that include all sectors and promote sustainable development that preserve natural resources and improve the future life of future generations.” Developing strategic plans to improve performance. He referred to “the
types of projects included in the initiative, including projects with
social returns,
small service projects, and
profitable projects, in addition to the
Digital Transformation Fund, the
Agriculture Fund,
Industry and
others,” stressing that “the
fund aims to
involve the private sector in supporting reconstruction efforts.” Iraq and
its development and
rebalancing to activate investment in the country, and
work to finance development and urban projects, and that the
fund manages these funds and implements approved projects to
rebuild the country’s infrastructure,
improve health and educational services,
strengthen the economy and
develop agricultural and industrial industries.
https://www.ina.iq/185110–.html
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