TNT: CandyKisses: The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government
The World Bank confirmed that the policy of changing the dollar exchange rate is one of the prerogatives of the Iraqi government.
The World Bank said in a statement that it was followed by (Al-Oula News), that “the policy of changing the dollar exchange rate is one of the prerogatives of the Iraqi government.”
Yada: I still go back to the logic that the UN needed this rate reissued in order to bring in the wealth that Iraq is accumulating. It is like a power circuit that is weak but with the addition wealth of Iraq, more power is garnered. All the countries who already did currency swaps have the dinar as a reserve and once the rate is released, each country’s currencies will grow stronger, offsetting the inflation they are experiencing now.
Yada: There are the French and Chinese contracts that require a fully reissued currency for them to work and feed Europe and Asia.
Yada: Kids talking among themselves what they are going to do but the parents who have the last word.
RVAlready: If the CBI considers Iraq stable enough, they will release the RV. The RVs will improve stability in the region. The UN is pushing this release. The CBI has had plenty of time to prep for this. They should let this go soon, before anything else happens.
RVAlready: I think the UN and IMF have given the CBI the green light. The needs of the world are critical. They wasted too much time.
RVALready: Worst case, the UN sends in peacekeeping troops. But I do not think that will happen.
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Tishwash: Parliamentary Finance sets the date for receiving the 2023 budget
The Parliamentary Finance Committee confirmed, on Tuesday, that the 2023 budget is almost completed by the specialized team at the Ministry of Finance, as some amendments will be made to it before sending it to the House of Representatives. It is likely that the Council of Ministers will raise the budget to Parliament in the middle of this month.
Member of the committee, MP Jamal Kougar, said in a statement to “Al-Maalouma”, that “the team that prepared the budget law at the Ministry of Finance is today in the custody of the new ministry after the formation of the new government ,” noting that “the budget preparation team will submit it to the Council of Ministers within days.”
He added, “The Council of Ministers will certainly make some amendments to the draft budget law, but it will push them to the House of Representatives in the middle of this month in order to approve the law.”
Cougar pointed out that “the House of Representatives is determined to pass the budget within a month, or at most, a month and a half.”
Concerning the features of the budget, Cougar stressed that “the investment budget will rise significantly because the government program is an investment service program and that all things are ready due to the presence of financial abundance and the continued rise in oil prices.” link
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Tishwash: Blackshart: Corruption is Iraq’s biggest challenge
Today, Tuesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, confirmed that corruption is Iraq’s biggest challenge, while noting that it stands against the progress and development of the country.
Plasschaert said in a speech during the Middle East Forum 2022 held in Erbil entitled “Iraq for all”, with the participation of politicians and researchers from inside and outside Iraq, and attended by the correspondent of the Iraqi News Agency (conscious), that “there is great corruption in Iraq, which is the biggest challenge,” indicating That “corruption stands against the progress and development of Iraq.”
She added: “We give proposals and advice to Iraq and Kurdistan,” noting that “the United Nations supports strengthening the relationship between Baghdad and Erbil.”
Regarding the bombing of Iraqi territory, Plasschaert stressed that “I cannot stop the Turkish and Iranian bombing of Iraq link
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Tishwash: Bank of Jordan opens its first branch in Iraq
Bank of Jordan announced the launch of its operations in Iraq with the opening of its first branch in Baghdad, after fulfilling all conditions and procedures related to launching its business in the Iraqi market.
The Chairman of the Board of Directors of the Bank of Jordan, Shaker Fakhoury, told Shafaq News, “The decision to branch out in Iraq comes to enhance our regional presence and to translate the bank’s strategy that it has adopted to expand its business in the countries of the region, whose markets are witnessing remarkable growth and promising opportunities, which will positively reflect on the services provided to our current and future customers.” .
He added, “We also seek to develop our banking system, a translation of the royal visions to increase investment, coordination and economic cooperation between the two countries, and to consolidate the strong economic and historical relations with Iraq.”
Fakhoury added: We are launching today in Iraq to translate the Bank of Jordan’s long-standing career, which extends for more than 60 years in banking and financial work, and in a manner that reflects the success in implementing the bank’s aspiring vision to become the leading bank in the Arab region, and to expand its branch network to include the Iraqi market, which is one of the most important markets in the region. He also indicated that the bank is currently working on preparing its first branch in Riyadh, Saudi Arabia, after recently obtaining a license to practice banking business in Saudi Arabia, stressing the bank’s continued orientation for regional expansion towards countries whose markets are witnessing growth and development at the economic and investment levels.
Fakhoury appreciated the efforts of the Central Bank of Iraq in facilitating the opening of the Bank of Jordan branch in the capital, Baghdad. He also thanked the Central Bank of Jordan for their trust and permanent support for the bank to implement its plans for branching and external expansion.
He pointed out that this step reflects Bank of Jordan’s commitment to designing its branch network in a way that enables it to achieve its vision and strategic directions and serve its broad customer base through its traditional channels, in addition to providing electronic and digital services to all its customers. Pointing out that Jawdat Jawdat was appointed CEO of the Bank in Iraq, who has a long and extensive experience of more than twenty-seven years in banking. He held a number of important positions during his work in major local, regional and international banking institutions. Link
