Bondlady’s Corner

Iraqi News Highlights Saturday Evening 5-6-23

Tlm724 Administrator Bondlady’s Corner

9 Electronic Payment Companies Zero Their Commissions To Support The Cabinet’s Decision

Saturday 06 May 2023 16:12 | Economical Number of readings: 384  Baghdad / NINA / – Today, Saturday, the Association of Iraqi Private Banks announced that 9 electronic payment companies will zero commissions on points of sale in all government sector institutions and for the end of this year, in support of the Cabinet’s decision that includes publishing electronic payment tools in state institutions.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a statement that “the banking sector is currently working to implement the decision of the Council of Ministers, to activate electronic payment tools, in all state institutions, so I decided 9 electronic payment companies, which are Amwal, Arabs, Iraq Gate, Ishtar Gate and Iriba Iraq.”

Weanh, Qi Card, the exchange and the national portal, zero commissions for local movements of government services on collection devices known as points of sale “POS” until the end of this year.

He added, “The infrastructure of the banking sector is ready to deploy electronic payment tools, especially in light of the presence of a large number of citizens who own bank cards of all kinds.”

He stressed that “electronic payment companies are currently working to deploy their devices in ministries and institutions not associated with a ministry, in addition to universities, gas stations, restaurants, pharmacies, medical clinics, markets, etc.” and contribute to spreading the culture of electronic payment and facilitating transactions and procedures.

He pointed out that “the money cycle will be completed after activating the electronic payment tools, which contributes to increasing credit and financing large, medium and small projects.”/ End

The President Of The Republic Attends The Coronation Ceremony Of King Charles III

Saturday 06 May 2023 16:52 | political Number of readings: 403   Baghdad / NINA / – President of the Republic Abdul Latif Jamal Rashid and First Lady Shanaz Ibrahim Ahmed attended today the coronation ceremony of King Charles III and Queen Camilla at Westminster Abbey Church in London.

The President of the Republic had received an official invitation to attend the coronation ceremony of King Charles III as King of the United Kingdom. /

Among Them Is Stopping The “Stock Exchange Applications” .. An Expert Presents Three Proposals To Reduce The Fluctuation Of The Dollar Price

Money  and business  Economy News / Baghdad  On Saturday, economist Nabil Al-Tamimi presented three proposals to limit the fluctuating rise in the dollar exchange rate during the past days.

Al-Tamimi told “Al-Iqtisad News” that “the central bank has not made any change in its policies during the recent period that leads to restrictions on access to the dollar,” noting that “the currency selling window maintained a moderate daily sales rate during the past two weeks between 180-200 million.” Dollars per session, which may approach a little bit from the actual need of the Iraqi market in dollars.

He pointed out, “There is no justification for the rise in exchange rates in the markets other than the speculations conducted by some currency traders and those benefiting from the rise in the exchange rate to form profitable deals,” expecting “the return of the exchange rate decline, and its stability at 1340-1360 during the next two weeks (according to the central bank’s response).” .

To ensure this, Al-Tamimi suggested that the Central Bank and the government “make greater facilities for companies, merchants, small traders, and financial transfer requests to conduct transfers on (less severe) terms, remove obstacles and facilitate procedures more and more towards these requests, and pass transfers more quickly.”

And he stressed the necessity of “stopping (mobile applications) that promote local exchange rates (black market exchange rates), as applications whose offered data do not include their dependence on real demand in the market (such as an auction and a real electronic stock exchange, rather it is just a media display method) to ensure that any attempts are prevented.

That such applications (as a tool) be used to change the direction of the market, due to its wide spread and the degree of dependence of markets, traders and merchants on its presented data, through the illusory effect on exchange rates and the impact on the markets.

He also suggested “a government move – an Iraqi central bank to make understandings with the Iranian government to make financial settlements for Iraq’s imports of goods, goods and services from Iran by paying it in Chinese yuan or Emirati dirhams, with accredited banks in the Arab Emirates or in China, and ending the state of pressure on the dollar in circulation.”

locally in the Arab markets to feed imports from Iran, which is estimated at 30 million dollars per day (8 billion dollars annually) at a rate of approximately 25 thousand tons per day (1200 trucks per day).

Views 284  Added 05/06/2023 –

Oil Incurs A Third Weekly Loss

Economy| 08:20 – 06/05/2023  Follow-up – Mawazine News  Oil prices rose as prices closed on Friday, but incurred a third consecutive weekly loss after recording a sharp decline earlier in the week ahead of decisions to raise interest rates from major central banks due to fears that the banking crisis in America will slow down The economy and the decline in demand for oil. Brent crude closed up $2.80, or 3.9%, at $75.30 a barrel. US West Texas Intermediate crude increased by $2.78, or 4.1%, to reach $71.34 per barrel upon settlement.

Brent crude ended the week down about 5.3%, while WTI plunged 7.1%, even though they both rebounded today. Ended 29/N33

Expert: $32 Million Worth Of American Cars Exported To Iraq In 3 Months

Economy| 12:20 – 06/05/2023   Baghdad – Mawazine News, economic expert Manar Al-Obaidi said, on Saturday, that American personal car exports to Iraq rose by 306% on a quarterly basis, and by 931% on an annual basis.

Al-Obeidi added, “The total number of cars exported to Iraq from America reached 1,021 cars in the first quarter of 2023, compared to only 99 cars in the first quarter of 2022.”

He added, “The average value of imported cars also increased from $8,500 in the first quarter of 2022 to $32,000 per car in the first quarter of 2023.”

He explained, “The value of American cars exported to Iraq in the first quarter of 2023 amounted to about $32 million, compared to $8.5 million in the first quarter of 2022.”

And he indicated that “this increase is due to the increasing demand for American four-wheel drive cars in Iraq and the high market share of American cars at the expense of other types of other origins.” Ended 29/N33

A Slight Increase In The Exchange Rates Of The Dollar In The Local Markets

Saturday 06 May 2023 11:56 | Economical Number of readings: 342

Baghdad / NINA / – The exchange rates of the US dollar against the Iraqi dinar rose slightly, today, Saturday, on the main stock exchange in the capital, Baghdad.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning an exchange rate of 144,350 dinars for every 100 dollars.

In the exchange shops in the local markets in Baghdad, the selling price amounted to 145,250 dinars per 100 dollars, while the purchase price amounted to 143,250 dinars per 100 dollars./ End 8

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