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Tishwash: A new directive from the Central Bank of Iraq to banks about the dollar and foreign currencies

On Wednesday, the Central Bank of Iraq instructed all licensed banks to adjust the value of the foreign currency (the dollar), and any currencies that are valued on the basis of their relationship to the dollar in the financial records and banking activities at the beginning of the working day 20/19/2020.

And “people” (December 23, 2020), obtained a copy of a document issued by the Central Bank, which states:

“Based on the decision of this bank issued under the book of the Department of Financial Operations and Debt Management No. 6/1/2440 dated 20/2020 / 12/20 adopting the new exchange rate starting from 20/2020 / 12/20

It was decided that you should adjust the value of the foreign currency (the dollar) and any Currencies that are evaluated on the basis of their relationship to the dollar in the financial records and banking activities at the beginning of the business day 2020/12/20 to extract the difference between the costs of possession for that year and the current value of it after the change of the exchange rate and in line with the cost of obtaining it (1460) dinars to the dollar or whatever price is obtained Under it, the dollar must be handled and the difference is handled according to the International Financial Disclosure Standards (IFRS)  link

Shybaby:  Deputy PM says KRG reached deal with Baghdad over 2021 budget bill

SULAIMANI (ESTA) — Kurdistan Regional Government (KRG) Deputy Prime Minister Qubad Talabani said the Kurdistan Region had reached an agreement with Baghdad over the federal budget bill for 2021.

Talabani who led a high-level KRG delegation to Baghdad said in a press conference that the delegation had been able to reach a deal with federal government over the 2021 federal budget bill during its two-week visit to the Iraqi capital.

Talabani hailed the agreement and hoped the Iraqi Council of Representatives would adopt the bill.

“The [federal budget] has preserved the common interest of Iraq including the Kurdistan Region,” Talabani told reporters in Baghdad on Tuesday night.

The KRG deputy premier further said talks with the federal government would continue to secure the Region’s share of the budget in the fiscal deficit financing law, adopted by the Iraqi parliament last month, without Kurds consent.

“We did not come to discuss the law, we came to discuss its implementation,” Talabani noted, saying the delegation discussed details of the law with the government, parliament and political leaders.

“The issue of the Kurdistan Region is not only about salaries and budget, it is also several other dossiers which are important for Kurdistan, and they should be discussed on,” he said.

On Saturday, Iraqi Finance Minister Ali Allawi said Baghdad and Erbil had reached a deal over the federal budget for 2021.

The draft budget law commits the Kurdistan Region to export 250,000 barrels of oil per day through Baghdad in exchange for the Region’s share of the federal budget, which is set at 12.67%.

Iraq has the world’s fourth-largest oil reserves and depends on oil revenues to fund 95 percent of its national budget.  KURDISTAN