Tishwash: With the document.. The Hajj Authority collects its revenues in dinars instead of dollars
The Hajj and Umrah Authority decided to collect its revenues in dinars instead of dollars, in implementation of the decision of the Council of Ministers.
M / exchange rate
May the peace, blessings, and mercy of God be upon you
In implementation of Cabinet Resolution No. (23026) of 2023, which includes:
Adopting the Iraqi dinar for the purpose of selling goods and services by the authorities
government and fixing the exchange rate to the dollar according to the central bank rate
Depending on the book of the Central Bank No. 868/11/5 in
To kindly inform and take the necessary measures to collect the authority’s revenues
In Iraqi dinars.
Tishwash: Expert: Dealing with the “Swift” system for dollar transfers needs time and there is a quick solution
The academic and economic researcher, Abdul Karim Al-Issawi, said that what matters to the Iraqi street is how to bridge the gap between the two prices (official and parallel to the dollar), which has reached high levels, in addition to the lack of complexity in the process of obtaining dollars by small merchants who finance their imports, which resulted in continuous increases in prices. .
Al-Issawi believes, in an interview with the official newspaper, followed by “Nass”, (March 8, 2023), that “the Central Bank of Iraq concluded an agreement with the (JP Morgan) group to act as a mediator and settlement between the private sector and the exporters of Iraq, which is very necessary and would create a kind of Transparency in foreign financial transfers to Iraq.
At the same time, Al-Issawi pointed out that dealing with foreign transfers through the (Swift) system still needs additional time in order for banks to adapt to it, so it is necessary to take treatments that accelerate the response to the need of ordinary individuals for the dollar and work to increase the outlets for selling foreign currency and not limit them. in specific banks. link
CandyKisses: OPEC expects oil demand to increase this year by more than two million barrels per day
OPEC Secretary-General Haitham Al-Ghaith announced that the organization’s countries expect oil demand to grow this year by 2.3 million barrels per day.
This came during a discussion on the stage of the International Energy Conference “Cerawek” taking place in Houston (Texas) in the United States of America, saying, “We see that the market is growing and we expect the situation to improve this year.”
The OPEC Secretary-General explained that “recent expectations indicate that demand for oil will increase by 2.3 barrels per day,” pointing out that “most of the growth will be in Asian countries, which includes India and China.”
On November 5, 2022, OPEC+ members agreed to reduce their oil production by two million barrels per day in an effort to recover oil prices, which fell to about $ 90 from $ 120 three months before the decision to cut due to fears of a global economic recession, raising US interest rates and the rise of the dollar
Tishwash: When will China start implementing the framework agreement and financing major electricity projects in Iraq?!
The Minister of Electricity, Ziyad Ali Fadel, discussed with the Chinese Export Bank (Sanyo Shore) the possibility of financing strategic projects within the Iraqi-Chinese framework agreement.
The ministry said in a statement received by Iraq today, “The Minister of Electricity, Ziyad Ali Fadel, chaired a high-level meeting with the Export Bank of China (Sanyo Shore), in the presence of the ministry’s advisor and a number of general managers,” noting that “the minister welcomed the guest delegation and thanked them for their support in Financing a number of large and important projects in the production sector, such as (Rumaila, Shatt Al-Basra, and Maysan Investment Stations), which returned production that supported the national electrical system.
She added, “The minister affirmed the government’s tendency to achieve solid partnerships financially and economically with everyone, and its desire to open up to everyone and develop cooperation with the People’s Republic of China.”
The Chinese delegation expressed, according to the statement, “its great pleasure at the seriousness and relentless pursuit of the minister, and his clear desire to establish infrastructure, and they expressed their high confidence in proceeding with the ministry and according to what it proposes to finance a large number of projects.”
The ministry’s advisor reviewed “the types of projects, the size of the technical and financial guarantees, and their mechanisms,” stressing that “our plans include combined cycles, thermal stations, solar power stations, and others.” link