Samson: Appeared 8 days ago

CBI: Project deletion of zeros from the currency still exists

30th January, 2019

The Central Bank of Iraq that the project to delete zeros from the Iraqi currency is still standing.

The director of the issuance and cabinets Abdul Karim Hassan Shannon that the project to delete the zeros was supposed to start in 2014, but security events and the control of the state regulation on five provinces led to delay, pointing out that the project is to delete three zeros from the current currency with the introduction of large currencies and currencies Metal.

Shannon confirmed that the current cash volume in the markets is large at 44 trillion dinars.


Don961:  The Central Bank allows cash withdrawals from points of sale and determines the commission rate

Wednesday 30 January 2019
The Central Bank announced that citizens are allowed to withdraw cash from the points of sale deployed at the agents of electronic payment companies and traders in the markets, indicating that the ceiling of customer loyalty is 2 million dinars per day.

The bank said it has decided to allow citizens to withdraw cash to organize electronic payments and within the strategic plan to switch to electronic payment in a sound and orderly environment.

The bank explained that cash withdrawals are made by agents or authorized dealers who are contracted by electronic payment companies to provide various services, including cash withdrawals.  link

BlaqueBeauty:  HOT NEWS


Notthe1:  This needs a rate ……

Samson:  Determination of the implementation date of the 2019 budget

2019/2/8 12:35

The Federal Budget Law is scheduled to be published in the Iraqi newspaper “Al-Waqalatmid-week, and the law will enter into force after its publication.

A source familiar with the Justice Ministry’s media said Friday that after the president signed the budget law, a copy of the law was sent on the same day to the Ministry of Justice and then sent to the Directorate of “facts” to work on it for the official publication.

The source added that the newspaper “facts” Iraq will be published on Monday or Tuesday, there is no doubt that the Federal Budget Law will be published in the newspaper

According to the law, any law in the House of Representatives after its ratification by the President of the Republic and published in the fact sheet is in force and if the government does not appeal the law to the Federal Court, it enters into force.

The President of the Republic Barham Saleh, approved last Monday, the federal budget law for the current year 2019, a deficit of 23 billion dollars.

The parliament voted on January 24 last year on the Federal Budget Law for the fiscal year 2019, which began earlier this year.  The budget estimates revenue of 106 trillion dinars (88.5 billion dollars), while estimated expenditures 133 trillion dinars (111.5 billion dollars), and the total budget deficit amounted to 27 trillion dinars ($ 23 billion). The estimated budget revenue account on the basis of 56 dollars to the price of a barrel of oil, with an average export of 3.00088 million barrels Aumia.    LINK

Samson:  Iraq, New Iranian Central Bank / New currency map is on its way ?

The possibility of opening a dinar account of Iranian banks in Iraq and opening branches of one of the largest Iraqi banks in Iran will mark a new chapter in the interactions between the two countries

In the past days, Abdel Nasser Hemmati completed one of his most important business trips during the Central Bank’s time, according to the Mehr News Agency. A journey where important meetings at this historic point of the Iranian economy took place, and of course, the agreements that took place on the fringe, may have provided one of the most unique opportunities to the Iranian banking system, which, if properly implemented and timely implemented, It can be an important and effective step in the field of the Iranian foreign exchange system

Accelerating the Iraqi debt repayment system to Iran, the activity of Iranian exporters through Iraqi banks, and the possibility of opening an Iranian bank account with the dinar and the euro, including agreements made with the Iraqi authorities at separate meetings of the head of the Central Bank of the Islamic Republic of Iran. Many banking experts say the deal, along with the importance of time for Iran, will be positive in terms of currency remittances

Of course, the success of the implementation of these agreements necessarily involves the political will of the two sides to timely and in accordance with the agreements reached, in particular, that Iraq has for months been the first Iranian trading partner and has the largest exports Non-oil Iran. In addition, at least in the last few months, Iraq has been able to influence the foreign exchange market with its foreign exchange markets Herat and Sulaimaniyah

Iraq, the new role of the Iranian currency system

Majid Shakeri, an economic analyst in an interview with Mehr News Agency , referring to the visit of Iraqi Central Bank Director Abdul Nasser Hemmati to Iraq, said that the trip was both the most important and positive in terms of the content of the Hawala Of foreign currencies this year. In addition, Iraq is a very important country in Iran’s foreign exchange map and is considered to be the most important export destination of Iran in recent months

He added that the Sulaimaniyah market is a bazaar related to Istanbul, Herat and Dubai, and thus has a serious impact on the cash market of Tehran, while considering the demographic situation in Iraq, the access of currency to the Central European and South American countries It is found in this country

Shakeri believes that among the countries that have successfully succeeded in converting their currency into dollars, Iraq has the best conditions for security cooperation with Iran and has the most consistent security interests with Iran, which is why Iraq has a very important point for Iran.

Including the results of the visit of the Chief of the Central Bank to Iraq, subject to the implementation of the agreement, is an appropriate access to the facilities; in addition to all the cases, such as opening an account of Iraqi companies in Iran, opening an account for Iranian banks in this country. And the opening of dinar accounts is also very important

Shakeri said that if the dinar was a currency such as the Indian Rupee and the Russian ruble, this trip could not be very effective, but the dinar is very strong due to Iraqi foreign exchange earnings, and because of the interplay between these incomes and the interests of American companies, in the long run, the problem No special occasions

Why is foreign exchange agreements important with Iraq?

He stated that the status of Iraq is very important, saying that the news out of the agreements shows that all actions have been in line with the purpose and the real work; the time of the agreement is also important, because in the second half of the avalanche and March because the market is more or less dormant, it is a good condition for implementation of these policies. Moreover, if these agreements are well implemented, it will be possible before the next year’s payment system will be deployed in May. , Use this system appropriately

Shakeri said that Iraq has other positive points for us, and that those populations in the south and north of the country, said that their respective textures are on the Iranian border, allowing the offices to be completely disconnected, similar to those between Tehran And Dubai exists for the Iranian and Iraqi side; while the border between Iran and Iraq is in a way that corresponds to the availability of money transfer with banknote access and reduces the sanction of the settlement unit

The expert in economic affairs, arguing that the gender segregation of US interests with a part of Iraqi society is such that Americans can not isolate a bank in Iraq for cooperation with Iran, stated: “It seems that the head of the central bank and The country’s foreign currency team has been pre-contemplated in terms of prioritization of the previous program, but along with all of these, what makes the security attachment necessary to get a good financial result in order to make Iran a good financial result, Iran’s security implications West Asia and helping Iraq during ISIL’s invasion

Iraq agreement; more effective replacement of INSTEX

He stated: “The sum of these conditions says that, in contrast to the concept that the Europeans put forward, and in line with that, Iran must deal with the security gains in West Asia and receive direct access to the euro against it, a new concept can be born.” Which lies on the resistance axis, which has had security and military layers to this day
Shakeri said that this concept is technically more powerful, more credible, and more in line with Iran’s security conditions, so that the access that Iraq opens to us does not solve all the problems, but it does not solve a significant part of the problems with approximation. Well, it can be solved on condition that it is executed

How effective is Iran-Iraq exchange agreement?

Sayed Kumal Seyyed Ali, a former deputy foreign currency deputy of the Central Bank, said in a conversation with Mehr correspondent about the change in Iran’s foreign exchange map and recent agreements with Iraq, saying: “Certainly, because these agreements have been signed by the head of the Central Bank, the current situation The country’s currency is included in terms of sanctions

Accordingly, what is happening is that when the two sides work with local money, they set off their sanctions, but they must also consider the dinar’s use of the country; in other words, if a Iraqi exports goods to Iran, and we want to give it the money from the purchase of goods, we can pay the dinar at the disposal of the receivables, or if we export and they want local currency to us Give it, it’s possible

Seyed Ali said that Iraqi exports to Iran and Iran should be compared to Iraq so that the two sides can settle this money, but the important thing in these agreements is that if the dinar we obtain at the right rate becomes International currencies will be of benefit to bothers and can be important for exporters because they reduce costs

He said: if Iranian banks and individuals have a euro account in order to receive the dinars they receive for selling their goods, they will be able to convert to the bank, which they account for, into dollars, dollars and euros, the benefits will be much higher; The agreement concluded by the head of the central bank also states that Iranian exporters can use this mechanism

Seyed Ali noted RED that the actions taken by the Central Bank in Iraq, if executed and the possibility of converting the dinar into global currencies, is a good and big job and should provide a land that would convert the dinars resulting from exports to the country. Other currencies and, through that, provided part of the country’s currency needs

He said: “Monetary treaties will be activated when both parties can use common currencies to maximize their profits   LINK


Rich4hyip:  the sound of international is getting louder and louder, i cant believe they mentioned convertability of dinar with other currencys in the article, and the project of deleting zeros and the effective date for customs dutys, such huge articles, it look like article two is showing the remaining part of itself

4Cash:  Internationalism!!! Internationalism!!! INTERNATIONALISM!!!

Samson:  With improved security and a welcoming investment climate, Iraq is again open for business, says Iraqi investor and entrepreneur Ahmed Rahim. #InvestIraqpic.twitter.com/fF9pibrw6u   — Government of Iraq -(@IraqiGovt) February 8, 2019


Samson:  Economist proposes restructuring the structure of the economy

7th February, 2019

Confirmed economist Ghadir Attar, on Thursday, the importance of the restructuring of the economy according to the structure of the global context and the reform of the business environment, laws and procedures make it convenient and engage private sector activity environment.

Al-Attar said in an interview with Al-Mawazin News, “The importance of the Iraqi economic reform in accordance with modern economic fundamentals, namely to provide the basis for moving from a central economy to a free market economy, and to encourage the private sector and develop it.  “Article (112) second stipulates that the federal government and the governments of the region and the provinces producing together to draw the strategic policies necessary to develop the wealth of oil and gas.”

He pointed out that “Article 110 of the Constitution provides for the exercise of federal authorities exclusive powers in the formulation of economic policy and foreign trade, as well as the formulation of trade policy across the borders of the province and provinces in Iraq and the development of the general budget of the state and the formulation of monetary policy.  He pointed out that “the private sector has a fundamental role in all societies as the cornerstone of its economy, and that private sector projects are capable of eliminating unemployment as it will occupy the largest possible number of workers.”

He pointed out that “this vital sector will solve many files, including the banking sector.”  He pointed out that “all countries that rely on the market economy are private banks of high durability and have a large area of ​​work to develop their work.”

The Economic Commission, had called for the need to restructure the private sector to support economic projects.    LINK