Bondlady’s Corner

Iraqi News Highlights Tuesday Evening 1-24-23

Tlm724 Administrator Bondlady’s Corner

Al-Hamdani Assumes His Duties As President Of The Iraqi Trade Bank

Economy News – Baghdad    Bilal Al-Hamdani, on Tuesday, assumed his duties as Chairman of the Trade Bank of Iraq and Chairman of the Board of Directors (in addition to his duties as Director General of the Industrial Bank), in implementation of the decision of the Prime Minister, Muhammad Shayaa Al-Sudani.

The media expert and spokesman for the bank, Aqil Al-Shuwaili, said in a statement, “Al-Hamdani met with the advanced staff of the bank upon his arrival to see the nature and mechanism of the bank’s work in general,” stressing that “an expanded strategic action plan will be developed based on the directives of the Prime Minister to advance the reality of the financial sector.”

https://economy-news.net/content.php?id=32067

Central Bank: We Have No Problem With Dollar Resources, And The Electronic Platform Is A National Option

Economie| 06:47 – 01/23/2023   Baghdad – Mawazine News  Today, Monday, the Central Bank announced the exhaustion of all steps related to monetary policy, and while indicating that the electronic platform is a national option for organizing the foreign trade process, it stressed the importance of the decision to allow imports in the names of companies and persons.

The Central Bank of Iraq adviser, Ihsan Shamran al-Yasiri, said: “The meeting of Prime Minister Muhammad Shia’ al-Sudani with a group of merchants and representatives of the Central Bank on the issue of the exchange rate of the dollar was an important meeting,” noting that “the issue of the exchange rate of the dollar is not with the Central Bank.”

He added, “The Central Bank has exhausted all steps related to monetary policy, and the issue now is related to state institutions concerned with dealing with merchants regarding import and export operations,” explaining, “The step of reforming the tax system is important, especially the Prime Minister’s speech regarding not allowing corruption in outlets and tax procedures.” “.

And he indicated, “The merchants assigned to deal with the General Tax Authority began to worry about communication and exposure to tax institutions, so they always withheld their purchases,” noting that “the Central Bank sent a message to the Prime Minister with the need to liberate the citizen from the problems and complexities of the high bureaucracy in tax work.”

And he stated, “The Central Bank does not have a problem with dollar resources, but a problem with dollar supply,” pointing out that “the electronic platform is a national option for organizing the process of foreign trade and organizing information.”

He pointed out that “the platform imposes that the merchant who buys the dollar is the same one who brings the goods in his name,” explaining that “Iraq is a country that complies with international controls.”

He stated, “The problem is with financing foreign trade, which is now putting pressure on the exchange rate, because traders are worried and afraid to come and expose themselves,” noting that “the platform has become necessary, which is that the merchant who buys the dollar brings the goods in his name at the outlets.”

Regarding the documentary credit, Al-Yasiri stressed that “the documentary credit took advantage of being at a lower price in order to encourage the public and merchants,” explaining that “the important issue that was taken by the Council of Ministers is to allow imports in the name of companies and individuals as well.”    https://www.mawazin.net/Details.aspx?jimare=217370

A New Decline.. Learn About The Exchange Rates Of The Dollar Against The Dinar

Economie| 09:36 – 01/24/2023   Baghdad – Mawazine News  The exchange rates of the dollar decreased today, Tuesday, on the local stock exchange.  Selling price: 158,000 dinars per 100 dollars  Buying price: 157,000 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=217408

A Slight Rise In Oil Prices In Global Markets

Economie| 08:50 – 01/24/2023   Follow-up – Mawazine News  Crude oil prices rose slightly in early Asian trading today, Tuesday, in a market focused on the prospects for demand recovery from China, the largest importer, and the global economic outlook.

Brent crude was up 5 cents at $88.24 a barrel by 04:16 GMT.

US West Texas Intermediate crude also rose 13 cents to $81.75 a barrel.

https://www.mawazin.net/Details.aspx?jimare=217406

Iraq’s Oil Generates More Than 7 Billion Dollars In One Month

Economie| 01:01 – 01/24/2023 Baghdad – Mawazine News   The Ministry of Oil announced, on Tuesday, the total oil exports and revenues achieved for the month of December, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry said, in a statement received by Mawazine News, that “the amount of exports of crude oil amounted to 103 million and 281 thousand and 459 barrels, with revenues amounting to 7 billion and 708 million and 556 thousand dollars.”

She added, “The total quantities of crude oil exported for the month of December from the oil fields in central and southern Iraq amounted to 100 million and 735 thousand and 151 barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were 2 million and 223 thousand and 338 barrels.”

And she continued, “The average price of one barrel amounted to (74,636) dollars,” noting that “the exported quantities were loaded by 36 international companies of several nationalities from the ports of Basra, Khor Al-Zubayr, the mono-buoys on the Gulf, and the Turkish port of Ceyhan.” Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=217429

Al-Jubouri: The Era Of The Former Bank Governor Witnessed The Largest Smuggling Of Hard Currency

Monday, January 23, 2023 4:13 of the Central Bank, Mustafa Ghaleb Makhaif, who was dismissed by the Prime Minister, Muhammad Shia’ al-Sudani, that his reign witnessed the largest smuggling of hard currency, while he hinted that there was a “serving of interests” that prevented Parliament from “accounting” him. .

And the representative of the coalition, Ahmed Al-Jubouri, said in a tweet to him, followed by the National News Center, that “exempting the governor of the Central Bank, during whose reign the bank witnessed the largest smuggling of hard currency and the rise in the price of the dollar, is a correct decision taken by the Prime Minister.”

He added that this came “after the House of Representatives abandoned its oversight role and held it accountable for serving interests!”  Al-Jubouri believed that “Ali Al-Alaq is a good choice, as he has experience and experience.   https://nnciraq.com/181726/

Including Electronic Auditing.. Al-Waeli Issues 6 Recommendations To Border Crossing Managers

Economy News – Baghdad   Today, Tuesday, the Border Ports Authority announced the issuance of 6 recommendations during its last meeting.

A statement by the authority stated, “The head of the Border Crossings Authority, Omar Adnan Al-Waeli, chaired an important meeting of the directors of the border crossings, which was held at the authority’s headquarters today.”

He added, “During the meeting, government directives, especially the items of the ministerial curriculum, were reviewed, and the need to implement it with all professionalism and integrity was emphasized. The work of the border crossings was also evaluated, and the obstacles and problems facing the progress of the procedures were identified in order to find the necessary solutions to address them and ensure that they are not repeated in all ports (land, sea and air). “.

And the statement continued, “Al-Waeli issued a number of recommendations, including an emphasis on the port managers and assistants doing field work, evaluating workers, following up job rotation procedures, carrying out qualitative, sudden and continuous audits, and supervising inspections for all frequenters, vehicles and goods in all their forms to ensure that the law is applied properly and according to controls.”

He pointed to “combating smuggling operations in all its forms by doubling the oversight role and checking all goods and merchandise exported and imported into the country, as well as thorough inspection of travelers and their bags, whether they are coming or leaving the country, to prevent the passage of any prohibited materials.”

He pointed out, “the need to resolve the legal procedures for the seized violations and follow them up after referring them to the judiciary to ensure that the negligent ones are held accountable in order to deter anyone who tries to carry out acts that violate the law.”

He emphasized “electronic auditing and intersection of data for customs and tax receipts, exemption books for goods, matching certificates of origin, invoices, border sequences, auditing import licenses, pre-examination documents, border sequences, and electronically exempted materials to prevent forgery or distortion of official papers, as well as coordination and exchange of information with departments operating in the border crossing and opening Official channels of communication, emphasizing cooperation in the field of security and intelligence information, following up on the entry and exit of tourist vehicles, and following up on the work of the K9 detachments and the sonar device.

Al-Waeli stressed that “the managers of the border crossings coordinate and integrate with the governorates in terms of developing and reconstructing the crossings and meeting their requirements from the revenues generated.”   https://economy-news.net/content.php?id=32064

 

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