Bondlady’s Corner

Iraqi News Highlights Tuesday Evening 2-14-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Invites Travelers Wishing To Buy Dollars To Go To Exchange Companies

Economie| 04:54 – 02/14/2023  Baghdad – Mawazine News  , today, Tuesday, the Central Bank of Iraq called on travelers wishing to buy dollars to go to exchange companies. A statement of the bank, received by Mawazine News, stated that it “calls on citizens who intend to travel to countries that are allowed to deal in the currency of the US dollar” to go to sales outlets in banks, exchange companies, and mediation companies to buy and sell foreign currencies authorized to buy the dollar at the specified official rate.

, that “the sale of the dollar will take place according to the instructions and controls of the Central Bank of Iraq, stressing that in the event that any of the banks or companies refrain from selling at the official price, call the numbers (07809224663) or (07853330555) to file a complaint against the party that refrains from that.”

And he stressed that “bank outlets for selling foreign currency continue to work by selling the dollar in accordance with the instructions and controls of the Central Bank of Iraq, which launched earlier a package of measures that contribute to the stability of the foreign currency market.” Ended 29 / m 99

Parliamentary Finance Is Discussing With The Directors Of The Rasheed And Real Estate Banks The Development Of The Banking System

Tuesday 14 February 2023 16:21 | Economical Number of readings: 175  Baghdad / NINA / – The Parliamentary Finance Committee discussed with the general directors of the Rasheed Bank and the Real Estate Bank the development of the banking system.

The Media Department of the House of Representatives stated: “The Finance Committee, headed by Representative Atwan Al-Atwani and the presence of its members today, hosted the General Manager of Al-Rashid Bank, Basem Abd Ali, and the General Manager of the Real Estate Bank, Abbas Shihab, to discuss the development of the banking system in Iraq and facilitate the granting of loans.”

During the hosting, the committee clarified about the procedures followed by banks and initiatives to grant housing loans and support small projects, as well as the number and size of disbursed loans, in addition to the volume of indebtedness and the contribution to replenishing the budget, in addition to the salary settlement mechanism, expressing its readiness to provide assistance in developing and bringing about a quantum leap. In the field of automation and development of the banking system, and ideas that contribute to improving performance.

The committee asked to provide it with the procedures taken by banks and the investments pertaining to them, with an official letter for perusal, based on the internal system of the House of Representatives and to take over its oversight role.

For his part, the General Manager of Al-Rasheed Bank reviewed the bank’s tasks and the bank’s initiative to exchange dinars for dollars for travelers at the official subsidized rate, as well as the types of loans granted to support investment and commercial projects to contribute to providing citizens’ needs.

The Director General of the Real Estate Bank clarified projects for financing citizens to purchase housing units, and the bank’s procedures within the real estate initiatives, adding work on studying the organizational structure of the bank, the comprehensive banking system project (automation), and heading to the electronic collection project, stressing the importance of increasing capital to continue with initiatives to grant loans to buy Residential Units./End 7

Finance: Iraq Maintains Its Credit Rating With A Stable Outlook

Tuesday 14 February 2023 Economical readings: 2  Baghdad / NINA /- The Ministry of Finance announced today, Tuesday, that Iraq has maintained its credit rating at -B/B, with a stable outlook.

The ministry said in a statement: “The latest report of Standards & Poor’s (S&P) acknowledged that Iraq maintains its credit rating at -B/B with a stable outlook, and an emphasis on financial and economic stability, according to the agency’s report.”

She pointed out: “The classification came as a reflection of the policy of continuous economic and financial reforms pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the service of the external public debt and the fulfillment of other external financial obligations as a result of the rise in crude oil prices.”

While the agency’s report indicated “the possibility of improving the credit rating of Iraq in the event of a high rate of economic growth and diversification of the state’s general financial revenues, oil and non-oil, and an increase in the per capita share of national income and the continuation of measures to reform financial and economic policy.”

Central Bank Sales Drop To 94 Million Dollars

Money and business  Economy News-Baghdad  The central bank’s sales of dollars increased in an auction today, Tuesday, for foreign remittances.

According to the bank’s daily bulletin, “the Central Bank sold today, during its auction for the sale and purchase of US dollars, 94,950,560 dollars, which the bank covered at a basic exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for foreign transfers, and at a price of 1,310 dinars.” per dollar in cash.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits) at 53,750,560 dollars, while the rest of 41,200,000 dollars went in cash.

The number of banks that bought cash dollars reached 13 banks, while the number of banks that responded to requests for strengthening balances abroad reached 16 banks, while the total number of exchange and mediation companies participating in the auction was 176 companies.


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