KTFA: Samson: Sri Lanka is considering the possibility of joining the Russian “Mir” system
17th September, 2022
Sri Lanka’s Minister of Transport, Pandula Gunawardana, announced that his country’s authorities are considering the possibility of joining the Russian payment system “Mir”, and negotiations are underway through central banks.
“Our embassy is looking into this issue because I know the Russians want to facilitate card payment in Sri Lanka,” Gunawardana said in a press statement.
He added that the Sri Lankan authorities want Russian tourists to be able to pay with the Mir card.
He continued, “In the near future, there may be progress in this area. Negotiations in this regard are taking place with our central bank. When we obtain approval from the bank, we will be able to announce that.” LINK
The Iraqi Stock Exchange suspends its sessions tomorrow, Sunday
17th September, 2022
Today, Saturday, the Iraqi Stock Exchange announced the suspension of stock trading sessions on Sunday.
A statement to the market received by “Dijla” stated that “according to the decision of the Council of Ministers to declare an official holiday for one day on the occasion of the Arbaeen of Imam Hussein, the market will not organize the stock trading session for tomorrow, Sunday.”
The Prime Minister, Mustafa Al-Kazemi, announced the suspension of official working hours, tomorrow, Sunday, on the occasion of the fortieth visit of Imam Hussein. LINK
************
Samson: World Gold Conference in Colorado
17th September, 2022
Tomorrow, the Gold Forum Americas Conference, kicks off in the United States and will continue from September 18 to 21.
The World Gold Council published a statement on its website, followed by (Al-Oula News) that the event, which is hosted in the month of Eiloa every year in Colorado, represents the most prestigious investment forum in precious metals stocks in the world.
The statement added that the Denver Gold Forum presents seven-eighths of the world’s publicly traded gold and silver companies when measured by production and reserves.
The invitation event will be attended by the world’s leading precious metal investors, as well as general institutional investors. LINK
************
Samson: The arrest of a former official on charges of seizing land in the Kurdistan Region
17th September, 2022
Kurdistan Region Parliament member, Ali Hama Salih, announced on Saturday the arrest of the former director of the Bakirjo district, on charges of appropriating land in the region.
Saleh said, in a statement received by Shafaq News Agency, that “the former director of Karago district, called (Luqman), was arrested after filing several complaints against him during the past two years.”
He added, “The accused seized lands in the name of the Peshmerga forces and the anti-terrorist forces in the areas of (Bakergo and Rabrin), and seized thousands of lands, even schools, health centers, kindergartens and homes.” LINK
Clare: Economist for / NINA /: The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development
Saturday 17 September 2022
The economic expert, 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 National Iraqi News Agency ( NINA ) that the central bank is responsible for managing the country’s foreign cash reserves, as the central bank, within the framework of this task, influences the credit by controlling the movement of capital inflows and abroad and providing foreign exchange to serve the requirements of monetary stability and economic development.
Al-Lami added: This reserve consists of: Foreign exchange papers: represented in current and fixed deposits in the main international currencies and government bonds held by the resident country 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’s reserve, which is in the form of bullion or coins in the vaults of the International Monetary Fund.
He explained: As for the third reserve, it is the special drawing rights: it is the new reserve and it is used to meet the deficit in the country’s traditional reserves and drawing rights are granted to each of the member states of the International Monetary Fund. So that the country’s share is proportional to the size of that country in the International Monetary Fund.
Al-Lami continued: These rights are used to settle payments between member countries of the International Monetary Fund. Therefore, central banks, including Iraq, seek to buy quantities of gold from time to time. The most recent of which is Iraq’s purchase of a new amount of gold, amounting to approximately (34) tons, bringing Iraq’s balance to (134,4) and thus achieving an increase rate of (35%) on the Iraqi stockpile, which made its classification become the fourth Arab and thirty-three globally. This increase is within the framework of a strategy The Central Bank to manage its assets in order to achieve the highest levels of stability and the ability to face local and international economic changes.
The Gold Promise: One of the most important assets held by central banks and international financial institutions. A haven from in conditions of uncertainty. Because of its acceptance at the international level.
The Central Bank had announced a rise in foreign reserves to more than (85) billion US dollars.
And the bank indicated in a statement that its foreign reserves amounted to more than (85) billion US dollars, which is the highest level achieved by the Central Bank since 2003.
He continued that gold reserves also exceeded (130.4) tons, worth (7) billion dollars, bringing Iraq to 30th place globally and 4th in the Arab world. LINK
