Tuesday AM CBI News Highlights 9-20-22
A New Parliamentary Speech Regarding Changing The Dollar Exchange Rate
Political | 10:38 – 09/20/2022 Special- Mawazine News The Parliamentary Finance Committee resolved, on Tuesday, the controversy over returning the dollar exchange rate to its previous era or changing it.
Committee member Jamal Cougar told Mawazine News, “The issue of changing or restoring the dollar exchange rate is not within the competence of the Parliamentary Finance Committee, nor its powers.”
And he continued, “The issue is only related to the state’s financial policy, represented by the Ministry of Finance and the Central Bank, and any talk about this is to win over the street only.” Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=205956
Recruiting An Official In The Central Bank Of Iraq To Purchase Currency-Counting Machines For $15 Million
2022-09-20 05:29 Shafaq News/ The Federal Integrity Commission announced on Tuesday the issuance of a summons order against a former director general in 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 confirmed in a statement today that the Rusafa Investigation Court, which specializes 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 purchasing (10) machines known as “comprehensive machines” used for counting and sorting currency, referring to The value of purchasing the machines amounted to (15,000,000) million 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. LINK
The Decrease In The Sales Of The Iraqi Bank Of The Dollar In The Currency Auction By 10%
2022-09-20 05:28 Shafaq News/ The Central Bank’s dollar sales during the auction that it conducted today, Tuesday, decreased by 10% to reach 235 million dollars.
Shafak News Agency correspondent stated, “The Central Bank sold today, during its auction to buy and sell US dollars, 235 million and 474 thousand and 750 US dollars, which were covered by the bank at a base exchange rate of 1460 dinars per dollar, down by 10% from yesterday, Monday, in which sales amounted to 261 million And 21 thousand and 884 US dollars.
Our correspondent added that most of the sales, amounting to 191,924 thousand and 750 dollars, went to enhance balances abroad in the form of remittances and credits, while the remaining 43 million and 550 thousand dollars went in the form of cash sales.
Our correspondent indicated that 32 banks have responded to requests to enhance balances abroad, and 21 banks have responded to cash requests, in addition to 221 mediation companies. LINK
With These Accusations…The Recruitment Of A Former General Manager In The Central Bank – Urgent
2022-09-20 | 04:03 2,244 views Alsumaria News – Localities The Federal Integrity Commission announced, today, Tuesday, 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 Authority’s Investigation Department stated in a statement received by Alsumaria news, that “the Rusafa Investigation Court, which is specialized in integrity issues, issued an order to bring in the Director-General of the Administrative and Financial Department in Central Bank of Iraq Previously, against the background of the purchase of (10) machines known as “comprehensive machines” used for counting and sorting currency, noting that the value of purchasing the machines amounted to (15,000,000) million US dollars.”
The department added, “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.” LINK
The Central Bank Of Iraq Has Three Reserves To Serve The Requirements Of Monetary Stability And Development
Economist for / Nina / : Baghdad /Nina/ Economist Jalil Al-Lami confirmed that the Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development. He told the Iraqi National News Agency (
The Central Bank is responsible for managing the country’s foreign monetary reserves, where the Central Bank within the framework of this task influences credit by controlling the movement of capital flow in and out and providing foreign exchange to serve the requirements of monetary stability and economic development.
Al-Lami added: This reserve consists of: Foreign exchange securities: represented in current and fixed deposits in the main international currencies and government bonds held by the country residing in foreign currencies for the benefit of the country over other countries, which is estimated at more than (85) billion dollars.
Gold: It is the state reserve, which is in the form of bullion or coins in the coffers of the International Monetary Fund.
He: The third reserve is the rights of the private draw: it is the new reserve and is used to face the deficit in the traditional reserves of the state and the rights of the withdrawal are granted to each of the member states of the International Monetary Fund. So that the share of the state is proportional to the size of that country in the International Monetary Fund.
These rights are used to settle payments between IMF member states. Central banks, including Iraq, seek to buy quantities of gold from time to time. The latest of which was Iraq’s purchase of a new amount of gold with approximately (34) tons, raising Iraq’s balance to (134.4) and thus achieving an increase of (35%) on the Iraqi treasury, which made its classification become the fourth Arab and thirty-third globally, and this increase is within the framework of the Central Bank’s strategy to manage its assets in order to achieve the highest levels of stability and ability to face local and international economic changes.
Gold Promise: One of the most important assets held by central banks and international financial institutions. And a refuge from in conditions of uncertainty. Because of its international acceptability.
The central bank announced that foreign reserves had risen to more than 85 billion US dollars.
The bank said in a statement that its foreign reserves reached more than 85 billion US dollars, the highest level achieved by the central bank since 2003.
He added that gold reserves also exceeded (130.4) tons worth (7) billion dollars, to reach Iraq to the thirtieth place in the world and the fourth in the Arab world.
https://ninanews-com.translate.goog/Website/News/Details?key=1000813&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en
Iraq Ranks 47th Among The Largest Economies In The World
Shafaq News/ An American economic report revealed today, Saturday, that Iraq ranked 47th globally and fourth in the Arab world in the largest economies in 2022, while the United States ranked first in the world and Saudi Arabia at the Arab level.
The American (CEOWORLD) magazine, which covers a wide range of topics from banking and finance to management and investment, said in a report seen by Shafak News Agency that “Iraq ranked 47th in the largest economies in 2022.”
The magazine added that “the United States is by far the largest economy in the world for 2022 out of the 100 countries included in the table with a total output of 25.346 trillion US dollars, followed by China in second place with a total GDP of 19.919 trillion US dollars, and then Japan with a gross domestic product.” It amounts to 4.912 trillion US dollars, then Germany came fourth with a total GDP of 4.256 trillion US dollars, while India came fifth with a total GDP of 3.534 trillion US dollars.
And in the Arab world, according to the magazine, “Saudi Arabia came first in the 18th place globally with the largest GDP, amounting to 1.040 trillion US dollars, followed by the United Arab Emirates second and 32nd globally, with a total GDP of 501.354 million US dollars, followed by Egypt third and 35th globally with a total GDP of 435,621 One million US dollars, followed by Iraq fourth and 47th globally, with a gross domestic product of 297.341 million US dollars, and then Qatar ranked fifth and 225.716 million US dollars.
The magazine noted that “the global gross domestic product is nearly 94 trillion US dollars, and the United States accounts for more than one-fifth of this number alone,” noting that “the world’s fastest growing major economies are China, India and Brazil.” LINK
