Bondlady’s Corner

Iraqi News Highlights Monday Evening 5-22-23

Tlm724 Administrator Bondlady’s Corner

To More Than 146.. The Dollar Exchange Rates Rose In Baghdad With The Stock Market Closed

Economy   Sunday, May 21, 2023 Baghdad / The National News Center  The exchange rates of the US dollar against the Iraqi dinar rose today, Sunday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 146,400 dinars, compared to 100 dollars, while the prices this morning were 145,200 dinars.”

He added, “The buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 147,000 dinars, while the purchase prices reached 146,000 dinars per 100 dollars.”

In The Document … The Central Bank Of Iraq Directs To Reduce Commissions For Transferring Foreign Currencies

Monday 22 May 2023 14:18 | Economical Number of readings: 252   Baghdad / NINA /, the Central Bank of Iraq instructed all licensed banks to reduce commissions for transferring foreign currencies./

International Monetary Expects The Volume Of Iraq’s Oil Production For The Current Year

Economy   Monday, May 22, 2023 Follow-up / National News Center  The International Monetary Fund expected, today, Monday, that Iraq’s oil production for the current year will reach about 4.63 million barrels per day.

The fund said in a schedule for the month of May of this year, “It is also expected to rise in 2024 at a rate of 4.74 million barrels.”

He added, “Iraq’s oil production in 2022 recorded an average of 4.44 million barrels per day, while in 2021 it recorded an average of 3.97 million barrels per day, and in 2020 it recorded an average of 4 million barrels per day.”

He pointed out that “the highest rate of oil production among the Arab oil-producing countries was for Saudi Arabia, where production for the year 2022 reached an average of 10.57 million barrels, followed by Iraq, and then the Arab Emirates at a rate of 3.14 million barrels per day, while Bahrain was the least Arab country producing oil.” At a rate of 190,000 barrels per day.

Expert: The Funds Allocated To Endowments In The Budget Are Equivalent To 27 Tons Of Gold

May 21 17:16  Information / Baghdad..Economic expert Manar Al-Obeidi revealed, on Sunday, that the money allocated to religious endowments is equivalent to about 30 tons of gold.

Al-Obaidi said in a post on Facebook, which Al-Maalouma viewed, that “the total

budget of religious endowments in the 2023 budget is around 2 trillion Iraqi dinars,

equivalent to 27 tons of gold.”   He added, “The total

budget of the Ministry of Industry is 1.1 trillion Iraqi dinars, the

budget of the Ministry of Agriculture is 1.9 trillion Iraqi dinars, and the

budget of the Ministry of Water Resources is 1 trillion Iraqi dinars.” Ended/25 hخبير:-الأموال-المخصصة-للأوقاف-بالموازنة-تعادل-27-طن-من-الذهب

The Ministry Of Communications Approves The Project To Establish A Regional Data Center In Iraq For Commercial Purposes

Communications approved the project to establish a regional data center in Iraq for commercial purposes.

The ministry said in a statement: “The Opinion Board in the Ministry of Communications held its meeting (125) headed by Minister Hayam Al-Yasiri and in the presence of specialized international experts to discuss the project to establish a regional data center in Iraq for commercial purposes,” noting that “the project, which will be agreed upon with major International Internet content providers such as Google, Amazon, Facebook and others.

The statement added, “The importance of this project comes in that it will be a regional provider for the needs of neighboring countries that do not own these data centers, as well as improving the quality of services provided and reducing their prices in Iraq,” noting that “this comes within the framework of the ministry’s efforts to encourage investment by the sector.” private sector, maximizing revenues and strengthening Iraq’s regional position among neighboring countries.

The Decline In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market

Economy   Monday, May 22, 2023  Baghdad / The National News Center   The exchange rates of the US dollar decreased against the Iraqi dinar, today, Monday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 145,500 dinars, compared to 100 dollars, while the prices this morning were 146,700 dinars.”

He added, “The buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 146,000 dinars, while the purchase prices reached 145,000 dinars per 100 dollars.”

An Economist Determines The Reason For The Rise In The Dollar Again: Bank Sales And The Parallel Market

Posted On2023-05-21 By Sotaliraq  2023-05-21  Economic expert Abd al-Rahman al-Mashhadani attributed on Sunday the reasons for the rise in dollar prices again to the sales of the Central Bank and the parallel market.

Al-Mashhadani said in an interview that “what the bank sells in terms of dollars through the auction that it conducts daily for foreign remittances, which amount daily to more than 250 million dollars, are not audited and it is possible that the bulk of them will be returned due to rejection, and therefore what the bank announces is not necessarily the final sales.” .

He explained that what “the bank sells in terms of remittances was audited by the US Federal Bank before an agreement was reached with JPMorgan Bank to conduct the audit, which is also more accurate and more severe than the audit of the US Federal Bank, which needs time to be audited, in addition to the use of the Central Bank of China.” Who also applies instructions and compliance with extreme precision.

He added, “As long as the transfers need time to be checked and are not executed quickly, the merchant resorted to the parallel market to buy dollars, and thus the dollar rose again in the parallel market, and the costs of buying dollars from the parallel market are less than the costs of transfers that are sent by the central bank because it is the bank.”

The broker will take a commission, and there is a commission for the central bank as well, in addition to the fact that when the merchant contracts to ship his goods, it will be delayed in the factory, and therefore it will cost him money because of the floor.

The price of the dollar rose against the Iraqi dinar on Sunday, reaching 145 thousand dinars compared to 100 dollars, after the dollar prices witnessed a decline during the past week.   LINK

The Central Bank Issues Instructions Regarding Prepaid Cards (Documents)

May 21 11:20   [Partial and approximate translation]

Date: 2023/05/21  To / all banks   All electronic payment service providers

Issuance of prepaid cards (2:05:copyright: by Omaart

In light of the directions of this bank in publishing electronic payment tools and adopting payment systems in financial transactions in order to Increasing financial inclusion and providing local and international financial and banking services to all segments through the use of cards Prepaid faye Bel ye ae (Prepaid Cards) Know your customer and better compliance rules International practices as part of the role of this bank to enhance the security and safety of prepaid card operations while ensuring the possibility its accessibility and usefulness to users;

Your institutions must adhere to the following controls:

  1. The maximum balance of prepaid cards shall be (10) million Iraqi dinars or its equivalent in other currencies.

2 The monthly recharge limits for prepaid cards are (10) million Iraqi dinars, and it is your responsibility to refuse any transactions Reload the card that exceeds the maximum balance mentioned above.

  1. Set a maximum limit for daily and monthly card transactions as follows:

– Determine the value of withdrawals via automated teller machines (ATM) to be ($300) per day or the equivalent in currencies Others, provided that cash withdrawals do not exceed ($3,000) per month.

– Determining purchases through points of sale to be (750 dollars) per day or its equivalent in other currencies and not

  1. Banks and electronic payment service providers licensed by this bank are allowed to issue and recharge (prepaid) cards payment) and granting the exchange companies of Finneh By A and their branches exclusively marketing and selling these cards for the benefit of the issuing party

And it is repackaged and all entities not licensed by this bank are prohibited from practicing the above activity as of 7/15/2023.

  1. Prohibition of types of transactions according to the trader’s technical codes (0:40) related to high-risk financial activities; We include in below codes

(MCC) handle it (-4829-5094-5932-5933-5944-5960-5972-6012-6050-6051

diy (6211-6300-651 3-6532-6533-6534-6536-6537-6538-6540-7012-7995 8398)

Details link.

  1. All issuing entities have the right to issue one active prepaid card to the same customer after submitting the supporting documents (the identity of the holder card / passport) taking into account that the customer’s name is affixed to the card, and it is not allowed to issue and reload cards to anonymous persons without Submission of supporting documents.

7 Taking due diligence procedures when issuing and reloading by card issuers in accordance with the controls Issued by this bank and the applicable Anti-Money Laundering and Terrorist Financing Law and the instructions and controls issued pursuant thereto:

And report any suspicious activity to the competent authorities (Anti-Money Laundering and Terrorism Financing Office) for the purpose of assistance Early detection and containment of illegal activity.

8 It is your responsibility to conduct regular reviews of prepaid card transactions and take additional actions regarding customers Those who frequently use their prepaid cards for purchases, cash withdrawals, or conducting pattern transactions Invalid according to the scenarios specified by the Anti-Money Laundering and Counter-Terrorism Financing Office.

  1. Providing awareness programs for your customers about the risks associated with prepaid cards and how to use them safely.
  2. Cards linked to mobile wallets are treated as prepaid cards and the same terms and conditions apply to them contained in this uncle.
  3. Cards issued before the date of issuance of this uncle and do not bear a name shall be effective until the date of 1/8/2023 or the depletion of their balance Or whichever is earlier, and it is not re-packaged, and the limits referred to above and the aforementioned trader’s art codes apply to it and to banks.

The companies will take the necessary measures to replace them under this decree.

To work and adhere to what came above..with appreciation.

Agency governor  2023/05/1?    copy to/

– Association of Iraqi Private Banks / for your kind information..with appreciation.

– Governor’s office / for your information..with appreciation.

– Legal Department/ for your kind information..with appreciation.

– Department of Investments and Foreign Transfers / For your information, with appreciation.

– Banking Control Department / for your kind information..with appreciation.

– Department of Accounting / for your kind information..with appreciation.البنك-المركزي-يصدر-تعليمات-بخصوص-بطاقات-مسبقة-الدفع-وثائق


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