Bondlady’s Corner

Iraqi News Highlights  Sunday Afternoon 5-14-23

Tlm724 Administrator Bondlady’s Corner

The Stability Of Dollar Prices In Baghdad With The Closing Of The Stock Exchange

Economy   Sunday, May 14, 2023 4:40 PM   Baghdad / The National News Center   The exchange rates of the US dollar stabilized against the Iraqi dinar today, Sunday, with the closure of the main stock exchange in Baghdad.  The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 146,100 Iraqi dinars against 100 dollars, while the prices this morning were 146,200 dinars.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad have stabilized, as the selling price reached 146,500 dinars, while the purchase amounted to 145,500 dinars for every 100 dollars.”

International Monetary Counts Iraq’s Non-Oil Revenues

Economy   Sunday, May 14, 2023 12:14 PM   Follow-up / National News Center   On Sunday, the International Monetary Fund counted the Iraqi non-oil government revenues for the year 2022, confirming that they amounted to 4.7% of the gross domestic product.

And the fund stated in a table that was seen by the National News Center, that “non-oil Iraqi government revenues amounted to 4.7% of GDP in 2022,” noting that “these revenues increased from 2020, which was 4.4%, and decreased from 2021.” Which was 8%, while these revenues were between 1990 and 2000 at a rate of 5.5%.

The fund expected that “the value of non-oil revenues from the gross domestic product in Iraq will increase for the year 2023 to reach 5.2%, but it will decline again for the year 2024, to reach 5.1%.”

He pointed out that “Iraq was the least oil-producing Arab country with non-oil government revenues, while the highest Arab oil-producing country with non-oil government revenues was Kuwait, as non-oil revenues of its GDP amounted to 39.3% for the year 2022, followed by the UAE with revenues amounting to 21.9%. of its GDP for the year 2022.

The Arrest Of A Former General Manager At The Ministry Of Industry In Lebanon

Iraq   Sunday, May 14, 2023 Baghdad / The National News Center  The Federal Integrity Commission announced today, Sunday, the arrest of a former director general in the Ministry of Industry on Lebanese soil.

In a statement received by the National News Center, Al-Nazaha stated that “the recovery department in the Commission announced that the Lebanese authorities had arrested the fugitive convict, the general director of the Specialized Institute for Engineering Industries in the former Ministry of Industry and Minerals, according to international arrest warrants and the convict’s recovery file that was organized by the recovery department in The Integrity Commission, in cooperation with the competent courts,”

noting that “the recovery file was organized and sent to the Supreme Judicial Council – the Recovery Division in the Presidency of the Public Prosecution; For the purpose of sending it to the competent authorities in Lebanon through diplomatic channels.

She added, “A judgment in absentia has already been issued against the fugitive convict, by the Rusafa Misdemeanor Court, which is specialized in cases of integrity, money laundering, and economic crime; Based on the provisions of Article (331) of the Penal Code; For his participation with other convicts of intentionally violating their job duties through the violations that occurred in the contracts for supplying Karbala governorate with mechanisms through the specialized institute.

Integrity explained, “The violations consisted of non-compliance with the internal system when concluding supply contracts, and the failure to endorse the higher authorities in the Ministry of Industry and Minerals, in addition to signing the contract without announcing the tender, and the customs exemption for those mechanisms that were equipped by a private company.”

It praised the efforts of the competent authorities in the Lebanese Republic, which showed their cooperation with the Iraqi authorities in arresting the fugitive convict.

Central Bank: Iraqi Banks Are Insured With (9) Measures To Prevent Breaches

Sunday 14, May 2023 19:43 | Economical Number of readings: 78   Baghdad / NINA / – Today, Sunday, the Central Bank of Iraq confirmed the implementation of 9 measures that secured the Iraqi bank and banks from hacking and piracy.

The central bank told the official agency, “The central bank and Iraqi banks are fully insured and immune from piracy, thanks to the adoption of modern protection systems.”

He added, “Secondly, insurance includes modernizing and developing infrastructure and payment systems with the latest versions, thirdly, relying on solid international standards and the latest versions, fourthly, educating users, fifthly directing all participants from banks and payment companies to acquire robust protection programs, and sixthly, adopting international standards and applying them to their systems.”

Seventh, he continued, “the insurance operations also included the preparation and training of cadres to face any breach, in addition to the presence of a disaster recovery center in the event of any defect, and to ensure the continuation of the service without impact.”

At an eighth point, he pointed to “the existence of more than one test environment for the purpose of testing any idea or update before converting it to a live environment, and finally adopting the sand box application, which is testing any idea or project on a specific real environment to address any defect or negative impact before applying it to The real environment./ End 8

Al-Nusairi: The Fluctuation Of The Exchange Rate In The Parallel Market Is “Temporary” And Will Decrease Soon

Market   Economy News – Baghdad  Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the current rise in the dollar exchange rate in the parallel market is “temporary” due to speculators and other reasons, most notably the non-entry of some retailers to the electronic platform for external transfer and the non-compliance of some banking companies with the official rate set by the Central Bank.

Al-Nusairi added, in a televised interview, that “the Central Bank follows up and monitors in cooperation with the concerned government agencies, and will issue severe penalties in accordance with the law for anyone who proves to be harmful to the national economy and insists on dealing with the parallel price in any way.”

He explained, “The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform and trying to make possible facilities and flexibility for the purpose of accelerating external transfers in banks, in the Central Bank, and in international banking agencies related to ensuring that foreign currencies reach the real and final beneficiary.”

Al-Nusairi urged all government agencies, wholesalers and businessmen to “deal locally with the Iraqi dinar as it is strong and recovers its purchasing power, in addition to that it represents an essential pillar of national sovereignty.”

Al-Nusairi concluded his speech by saying, “The Central Bank constantly announces the possibility of securing the dollar in the required quantities for everyone who needs it at the official price of 1320 dinars per 100 dollars through the only way, which is the electronic platform of the Central Bank.”

Views 171   Added 05/14/2023 – 10:50 AM

The Sudanese Consultant Explains The Most Prominent Projects Of The Iraq Fund For Development Initiative

Money  and business  Economy News – Baghdad   The Prime Minister’s Advisor for Investment Affairs, Muhammad al-Najjar, explained, on Sunday, the projects included in the Iraq Fund for Internal Development.

“The projects included in the initiative include projects with a social return, small service projects, and profitable projects, in addition to the Digital Transformation Fund, the Agriculture and Industry Fund, and others,” al-Najjar said in a statement to the Parliament’s media on the sidelines of hosting him from the Finance Committee.

He added, “The fund aims to involve the private sector in supporting Iraq’s reconstruction and development efforts, restoring balance to activate investment in the country, and working to finance development and construction projects.

The fund manages these funds and implements approved projects to rebuild the country’s infrastructure, and improve health and education services.” strengthening the economy and developing agricultural and industrial industries. Views 144   Added 05/14/2023 –


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