Bondlady’s Corner

Iraqi News Highlights Saturday Evening 2-4-23

Tlm724 Administrator Bondlady’s Corner

Sudanese Adviser: Central Bank Actions Will Raise The Value Of The Iraqi Dinar

Economie| 10:25 – 04/02/2023  Baghdad – Mawazine News , the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Saturday, that the Central Bank’s measures had positively affected the negotiations with the US Treasury, indicating that these measures would raise the value of the Iraqi dinar.

Salih said, “The procedural package launched by the Central Bank of Iraq hours ago is a positive reflection of the success of negotiations between the Central Bank of Iraq and the US Treasury, and is a systematic easing of the restrictions imposed, by adopting international banking tools as transparent channels for the transfer of funds, and in a more detailed way to conduct external transfers.” between Iraq and the world.

And Saleh continued, in an interview with the official news agency, which was followed by Mawazine News, that “the issued instructions indicate a systematic liberation of external transfer from the restrictions, instructions and customs previously approved on the movements of the Iraqi balance of payments, which will raise the value of the Iraqi dinar rapidly.”

Ihsan Al-Shammari Affirms The Ability Of The State And The Central Bank To Control Official Financial Transactions / Expanded

Saturday 04 February 2023 10:54 | Economical Number of readings: 475  Baghdad / NINA / – The head of the Center for Political Thinking, Ihsan Al-Shammari, affirmed the ability of the Iraqi state and the Central Bank of Iraq to control official financial transactions in the country.

Al-Shammari said in a statement to the National Iraqi News Agency / NINA /: “The Central Bank of Iraq is responsible before the US Federal Bank in relation to transfers and reliance on the new foundations and standards in the issue of financial transfers that Iraq needs in the import issue at the level of the government and private sectors,” pointing to : “The issue of the dollar is linked to compliance with the international standards set by the US Federal Reserve in full.”

He explained: “The challenge facing the government in the smuggling process is summed up in what is known as flying boxes, that is, smuggling dollars through some Iraqi airports or land truck boxes through official and unofficial outlets, and here lies the government’s ability to control the dollar outside the context of official and unofficial transfers.” official.”

He pointed out: “The government’s responsibility and the challenge before it is represented in controlling the border crossings with new technical capabilities, blocking smuggling routes at unofficial crossings and eliminating smugglers, and if it succeeds in this matter, it will greatly control the movement of the dollar and its price.”/

The Association Of Private Banks Affirms Its Support For The Government’s Measures To Raise The Value Of The Iraqi Dinar

Saturday 04 February 2023 12:02 | Economical Number of readings: 488  Baghdad / NINA / – The Iraqi Private Banks Association announced today, Saturday, its support for the new government measures regarding raising the value of the Iraqi dinar against the dollar, directly and gradually, and with the provision of materials and goods in the local market.

The association said in a statement: “The new package of measures issued by the Central Bank of Iraq, to facilitate the financing of international trade, and to organize its work in accordance with international requirements, will contribute to the stability of the exchange rate, and reduce the parallel market and illegal transfers.”

She added, “Private banks are ready to implement all the instructions of the Central Bank, because they have the necessary infrastructure, and in compliance with the instructions by opening accounts and providing official documents for the import of goods, by various categories, including companies and simple companies registered in the chambers of commerce, owners of laboratories, factories, agricultural and investment projects, in addition to To scientific offices and companies in the Kurdistan region.

The Association of Banks called on the business sector and merchants to deal with banks directly by opening accounts, bank credits, and fundamental transfers, and benefiting from the advantages and official exchange rates, without an intermediary or third party, or using unlicensed channels and exchange, as the transfer process will take place after verifying the fundamental requirements and verifying Lists of bans and penalties.

And she added, “The banking sector is determined to implement this package of decisions in a smooth and easy way, simplify procedures within the controls and expand the network of dealing with merchants, especially through all branches in the governorates, in addition to intensifying awareness campaigns for the public about account opening mechanisms and external transfer controls.”/ End

The US Treasury Confirms Its Support For Achieving Economic Stability In Iraq

The Central Bank of Iraq revealed the contents of the meeting of its governor, Ali Al-Alaq, with US Assistant Secretary of the Treasury Brian Nelson in Turkey.

The media office of the bank said in a statement: “The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, and his accompanying delegation concluded, yesterday evening, in Turkey, his meetings with Assistant Secretary of the Treasury Brian Nelson and his accompanying delegation,” pointing out that, “during the meeting, they discussed prospects for cooperation.” And coordination between the two sides in a way that contributes to achieving the stability of the exchange rate in Iraq and the mechanisms related to that.

He added, “The US Treasury confirmed its support for achieving economic stability in Iraq, in reference to strengthening what was discussed between Prime Minister Muhammad Shia’ al-Sudani and US President Joe Biden in the phone call that took place between them Thursday in stressing the importance of Iraq’s stability to the region.”

He continued, “The US Treasury Department has expressed its readiness for the necessary flexibility to achieve common goals,” noting that “it was agreed to continue coordination and cooperation during the meetings to be held in Washington, DC, before the middle of this month.”


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