KTFA:
Clare: Iraq opens its doors to India to solve the dollar crisis.. and an expert asks a question to the Central Bank
9/5/2023
The financial expert, former director of financial control, Salah Nuri, revealed today, Tuesday, a financial agreement with India to facilitate foreign transfers of dollars.
Nuri told Al-Furat News that: “The fears of imposing new sanctions on Iraqi banks are expectations as a result of the changes that took place by the US forces on the Iraqi-Syrian border, but from the official side, the government did not announce the existence of upcoming US sanctions.”
India agreement
He added, “The Central Bank of Iraq has taken an initiative to facilitate foreign transfers for the purpose of importing the private sector, by concluding a financial agreement with India with the aim of establishing Indian banks as correspondent banks for importing the private sector, which are trusted and sober in the world and the United States of America.”
Nuri promised this step “to expand the network of foreign correspondent banks, and we are awaiting the results of the implementation of this financial agreement.”
Speculators
Nuri explained, “One of the reasons for the rise in dollar prices internally is the speculators.”
And he asked a question to the central bank, “From where is the amount of dollars in the parallel market and speculation with it, while the dollar’s offer by the central bank is determined by what it gets from the US federal via the electronic platform?”
Nuri added, “This indicates the existence of illegal outlets for obtaining the dollar by speculators.”
government decisions
Prime Minister Mohamed Shia Al-Sudani called on the security services concerned with combating and prosecuting economic crimes to work in an integrated and continuous system to pursue speculators, currency smugglers, and evaders from paying customs and taxes.
According to a government statement, Al-Sudani warned during his meeting with officials and representatives of the relevant government and security agencies that “these efforts receive special attention from the government, as they are a pillar of economic reform and the fight against corruption.”
Dollar prices in Baghdad
The price of the dollar against the Iraqi dinar on the main stock exchange in Baghdad, today, Tuesday, was 154,500 Iraqi dinars for sale, while the purchase price was 152,500 dinars for every 100 dollars.
From: Raghad Dahham LINK
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Clcare: Finance reveals a loan agreement to pay the region’s salaries
9/5/2023
The Ministry of Finance revealed, on Tuesday evening, a loan agreement to pay the salaries of employees in the Kurdistan region.
And the ministry stated in a statement, which {Euphrates News} received a copy of, that: “Based on the approval of the Council of Ministers and in implementation of what came in its decision No. (23500) in its session held on Sunday, September 3, 2023, the Rafidain and Rasheed banks will sign the loan agreement with the Ministry of Finance in the Kurdistan region To pay the salaries of the region’s employees by guaranteeing a deposit submitted to the Federal Ministry of Finance, provided that it is settled from the region’s dues after their commitment to the provisions of the budget law.
The ministry affirmed “its keenness to guarantee the financial rights of all citizens and employees in accordance with what is imposed by the stipulated controls and instructions, and accordingly, the federal government decided to disburse financial loans to the Kurdistan Regional Government as salaries for its employees, and the representative of the region must coordinate with the above banks for the purpose of signing the loan agreement referred to by the Minister of Finance in the Kurdistan Regional Government.” to it in the decision in question.
13 of 2023, including securing the financial rights of those who are entitled to it,” she said, stressing that “the government is keen to meet the requirements of employees in the Kurdistan region, and to implement financial reforms aimed at promoting economic growth.” LINK
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