Bondlady’s Corner

Iraqi News Highlights Thursday Afternoon 4-27-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Launches A System Of Banking Supervision Reports

Economy| 12:28 – 04/27/2023   Baghdad – Mawazine News  The Central Bank of Iraq announced, on Thursday, the launch of the Banking Supervision Reporting System (BSRS).

The bank stated in a statement, that “the new system will collect financial data from banks and non-bank financial institutions represented by (banks’ quarterly data tables, mandatory reserve reservation tables, trial balance tables for non-bank financial institutions, liquidity and capital adequacy tables, and financial inclusion data), In addition to the data of the permanent record of each bank or non-banking financial institution approved by this bank, and the unification of the database of codes for these banks, companies and their branches.

The bank stated, “The system provides the banking control department and the various bank departments with a clear vision of the financial position of financial institutions by relying on the capabilities offered by modern technology in downloading and auditing data, which enables the regulatory authorities to monitor the financial safety of banks and non-bank financial institutions faster and more accurately.” and enabling the bank to rectify potential risks within financial institutions.

The statement added, “The launch of the Banking Supervision Reporting System (BSRS) comes in implementation of the strategic goals set by the Central Bank of Iraq in developing institutional performance, upgrading banking control tools, and reducing risks by adopting regulatory techniques and automating activities and functions undertaken by the Central Bank and its departments to regulate the work of the banking sector.” Iraqi.”

Sumaisem: Reducing the budget deficit will keep Iraq away from the “foreign debt trap”

April 26  information / special..The economic expert, Salam Sumaisem, confirmed, on Wednesday, that setting a reasonable percentage of the deficit in the draft general budget will protect Iraq from falling into the trap of foreign debt that will result from passing what has been announced now,

adding that approving the budget for three consecutive years will lead to a recurrence of the fiscal deficit on Iraq and will increase the burden. on the economy.

Sumaisem said in an interview with Al-Maalouma agency,

“Failure to seek to reduce the budget deficit will contribute to the exacerbation of external debt for three consecutive years,” noting that

“fixing a reasonable percentage will protect Iraq from falling into the debt trap that will result from the deficit established in the budget.”

And she continued, “Continuing not to seek to reduce the budget deficit will contribute to the exacerbation of external debt for three consecutive years,” pointing out that

“passing the deficit rate at 63% in the budget means that the volume of spending will lack economic feasibility.”

And Member of Parliament Muhammad Al-Shammari described, in an interview with Al-Maaloumah Agency, that

“the deficit of the tripartite budget for the year 2023 is disturbing and surprising,” noting that

“there is a parliamentary move in order to start reducing the percentage to less than what has been announced at the present time.”سميسم:-تخفيض-عجز-الموازنة-سيبعد-العراق-عن-فخ-الديون-الخارجية

The Iraqi Stock Exchange Announces The Weekly Trading Indicators

Economy| 02:07 – 04/27/2023   Baghdad – Mawazine News  The Iraq Stock Exchange announced today, Thursday, the weekly trading indicators.

According to a statement received by Mawazine News, “The Iraq Stock Exchange organized during the fourth week of April 2023 three trading sessions, from Tuesday, corresponding to 04/25/2023, to Thursday, corresponding to 04/27/2023, as trading sessions were not organized for today.” Sunday 04/23/2023 and Monday 04/24/2023 to be considered an official holiday.

The statement added, “During this week, the following indicators were achieved:

  1. The number of shares traded during this week amounted to more than (1) billion shares.
  2. The value of shares traded this week amounted to more than (2) billion dinars.
  3. The trading index closed In the market for the first session of the week at (728.12) points, while the index closed at the end of the week at (697.63) points, achieving a decrease of (4.37%) from its closing at the beginning of the session.
  4. During the week, more than (2000) buying and selling contracts were executed on the shares of companies listed in the market.”

The Central Bank Sells Nearly $200 Million In A Currency Auction

Economy   Thursday, April 27, 2023 Baghdad / National News Center  Today, Thursday, the Central Bank of Iraq announced its dollar sales through the electronic window.The central bank sells nearly $200 million in a currency auction

A Slight Increase In The Exchange Rates Of The Dollar On The Local Stock Exchange

Thursday 27, April 2023 | Economical Number of readings: 274  Baghdad / NINA / – The exchange rates of the dollar on the local stock market increased slightly today, Thursday.

The selling price was recorded at 141,500 dinars for one hundred dollars, and the purchase price was 140,500 dinars for one hundred dollars.

Oil: Revenues Last Month Amounted To More Than $7 Billion

Economy| 10:57 – 04/27/2023   Baghdad – Mawazine News   The Ministry of Oil announced, on Thursday, that revenues for the month of March amounted to more than $7 billion.

The ministry stated, in a statement received by Mawazine News, that “the total exports of crude oil for the month of March amounted to 100 million and 913 thousand and 27 barrels, with revenues amounting to 7 billion and 506 million and 401 thousand dollars.”

He added, “The total exported quantities of crude oil for the month of March from the oil fields in central and southern Iraq amounted to 98 million and 875 thousand and 692 barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were 1 million and 727 thousand and 494 barrels,” noting that “the average The price of one barrel amounted to (74,385) dollars.

And he indicated that “the exported quantities were loaded by (35) international companies of several nationalities, from the ports of Basra, Khor al-Amaya, the mono-buoys on the Gulf, and the Turkish port of Ceyhan.”

Central Bank Governor: Launching An Initiative To Finance Renewable Energy Projects

Economy| 10:49 – 04/27/2023 Baghdad – Mawazine News, Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, affirmed, on Thursday, the Central Bank’s support for the government program in finding sustainable solutions to limit the impact of climate change, while referring to enhancing inclusiveness to finance the green economy.

Al-Alaq said in a speech on the occasion of the Financial Inclusion Week, “The Central Bank supports the government program in finding sustainable solutions to reduce or reduce climate changes and desertification.”

He continued, “From this standpoint, we launched an initiative to finance renewable energy projects, and we are also working to urge the financial and banking sector to support projects and sectors that contribute to the services of environmentally friendly products.”

Alaq added,  He pointed out that, “in conjunction with the recommendations of the Iraqi Climate Conference to reduce climate risks to the country, international data ranked Iraq among the five countries most affected by climate change in the world.”

To read more current and reliable Iraqi news please visit BondLady’s Corner: