Bondlady’s Corner

Iraqi News Highlights Tuesday Afternoon 1-10-23

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20,000 Dinars Denomination.. The Central Bank Talks About Issuing A New Currency: Counterfeiting Is A “Development”

Posted On2023-01-09 By Sotaliraq   The Governor of the Central Bank, Mustafa Ghaleb Makhaif, confirmed on Sunday that there are 4 benefits for issuing a new denomination of the Iraqi currency, indicating that the methods of counterfeiting the currency have developed.

In statements to Arab media, Makhaif said, “The issuance of the new denomination is a procedure to modify the structure of banknotes and introduce an intermediate denomination that facilitates daily transactions, reduce the presence of old versions of currency denominations in circulation, and adopt modern security specifications in designing the new denomination to reduce counterfeiting.

” That “counterfeiting methods have evolved thanks to technological development.”  Last September, the Central Bank announced its intention to issue a new banknote of 20,000 dinars    LINK

The Cabinet Approved A Number Of Recommendations To Address The Impact Of The Dollar’s Exchange Rate Hike

Tuesday 10 January 2023 18:20 | political Number of readings: 74  Baghdad / NINA / – The Council of Ministers approved a number of recommendations to address the impact of the high exchange rate of the dollar.

The Council also approved in its meeting today to amend the customs tariff to serve the citizen and the stability of the dollar exchange rate./

Advisor To The Prime Minister: The 2023 Budget Is In Its Final Touches

political| 12:41 – 10/01/2023  Baghdad – Mawazine News, the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, set the date for sending the budget to the House of Representatives.

“The general budget for the year 2023 is in its final touches,” Saleh said, in an interview with the official news agency, which was followed by Mawazine News.

He added, “The budget will be on the parliament’s table at the end of the parliamentary recess and the beginning of the legislative term for the year 2023.”

Learn About The Exchange Rates Of The Dollar In The Iraqi Market

Economie| 10:12 – 10/01/2023  Baghdad – Mawazine News  The exchange rates of the dollar witnessed, today, Tuesday, stability in the local stock exchange.   Selling price: 157,500 dinars per 100 dollars  Buying price: 157,300 dinars per 100 dollars

The Central Bank Announces The Return Of The Dollar Exchange Rate To 1470 During The Current Month

Economie| 03:47 – 10/01/2023   Baghdad – Mawazine News   The Central Bank of Iraq announced today, Tuesday, the return of the exchange rate of the dollar to 1470 during the current month, while indicating the tendency to open windows for selling currency in the provinces soon.

The bank’s advisor, Ihsan Shamran al-Yasiri, told the official news agency, followed by Mawazine News, that “the central bank is committed and compliant with the decisions of the international community, and as long as there are countries that are prohibited from receiving the dollar, then the central bank cannot bypass that and not violate the controls.”

Regarding the return of the dollar’s exchange rates, he stressed that “the turbulence in dollar prices is a temporary situation, and within two weeks the dollar price will return to its normal stable position of 1470, that is, before the end of this month of January,” noting that “the central bank’s resources are now at their highest levels in decades.” “.

He continued, “The state’s financial situation is very comfortable,” noting that “the controls that were put in place to sell the dollar on the platform came in order for the dollar to go to the real beneficiary, and it is a regulatory process.”

He stated that “the governor of the Central Bank, Mustafa Ghaleb Makhaif, met with a number of merchants, and advised them to rely on auditing or direct dealings with banks, and it is not necessary to deal with speculators and intermediaries.”

He continued, “Direct dealings with banks will reduce additional costs for them, and will also reduce extra links for merchants, in addition to ensuring the arrival of imported goods in a proper way, and this is a service to their trade and the country.”

He stressed that “the Central Bank sells excellent amounts of cash daily, as all banks in Baghdad have opened a window for them to sell dollar currency, and very soon they will include banks in the provinces, to facilitate the process of delivering dollars to those in need,” pointing out that “some exchange companies were offering Few, so the Central Bank addressed this issue and assigned committees affiliated with it to work with banks to eliminate this phenomenon, as matters are heading towards a solution.

And he indicated that “the crises that afflict countries when they do not have dollars and cannot meet the demand will face a problem, but the central bank now has reserves that exceed 90 billion dollars, and this is the first time that the reserves reach these levels,” explaining that ”

He pointed out that “the central bank is trying to make it clear to merchants, through the Chamber of Commerce, through the media and the governor of the central bank, the need to deal with banks directly,” noting that “the central bank directed banks to facilitate procedures to enable merchants to access funds, and therefore this The issue witnessed a development day after day for the better, to move towards resolving the crisis while it is on its way to disappearing.” Ended 29/M99

The Central Bank Sends A Letter To The Banks Participating In The Electronic Platform

Economie| 04:22 – 10/01/2023  Baghdad – Mawazine News, today, Tuesday, the Central Bank of Iraq sent a letter to the banks participating in the electronic platform.

In a document seen by Mawazine News, the bank said, “Given that many inquiries have been received by importers (merchants) regarding the documents that are required to be submitted in return for financing their imports through the electronic platform by the banks participating in it.”

The bank confirmed that “the documents required when the bank submits the transfer request via the electronic platform is the commercial list, and then the merchant can submit shipping documents for the imported goods during the post-transfer period.”

The Central Bank Agrees To Sell The Share Of Burgan Bank Of Kuwait In The Bank Of Baghdad

Tuesday 10 January 2023 11:08 | Economical Number of readings: 279   Baghdad / NINA / – The Kuwaiti Burgan Bank announced today, Tuesday, that the Central Bank of Iraq has agreed to sell Burgan Bank’s stake amounting to 51.8% in the Bank of Baghdad to the Jordan Kuwait Bank.

He said in a statement to the Kuwait Stock Exchange that the completion of this process is subject to fulfillment of legal documents and the requirements of the Iraq Stock Exchange.

The bank did not mention the value of the deal, but it said last September: The sale process will avoid an increase in the bad debt ratio by 60 basis points and achieve a profit of two million Kuwaiti dinars ($6.54 million)./ End3


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