"THE IRAQI G0VERNMENT IS SERIOUS ABOUT CONTROLLING THE PRICE OF THE DOLLAR", 8 AUGUST

 Baghdad Trade praises a procedure for the Iraqi Trade Bank: curbing the rise in the price of the dollar

Shafaq News/ The Baghdad Chamber of Commerce confirmed, on Monday, that the move of the Trade Bank of Iraq (TBI) prevented the rise in the price of the dollar, while it indicated that 90% of consumer goods are imported.

The head of the Chamber, Firas Al-Hamdani, said, in an interview with Shafaq News agency, 

"The Iraqi markets are completely affected by the dollar, because 90% of consumer goods are imported, and therefore the high price of the dollar results in price inflation."  He pointed out that 

"the Iraqi government is serious about controlling the price of the dollar and has taken a positive step by authorizing the Central Bank of Iraq to the Trade Bank of Iraq (TBI) to sell the dollar at a price of 1320 Iraqi dinars to small merchants for import purposes

without the requirement to submit the fundamental documents that belong to companies except for its affiliation with the Chamber of Commerce." or has a commercial record.  He stressed that 

"this step limited the rise in the price of the dollar against the dinar and created relative stability in the prices of goods in the local markets, because this matter is linked to the transfer of currency abroad, and 

therefore we need the central bank and Iraqi banks to be supportive of the merchant."  Al-Hamdani pointed out that 

"the Iraqi Trade Bank, on July 30, began transferring dollar purchase requests to small merchants (shop owners), amounting to 100 thousand dollars per merchant at a price of 1320 per dollar, through banks directly without the need to participate in the electronic platform of the Central Bank."

https://www.shafaq.com/ar/اقتصـاد/تجارة-بغداد-تشيد-ب-جرا-للمصرف-العراقي-للتجارة-كبح-ارتفاع-سعر-الدولار

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Meeting in the Ministry of Finance on the "Unified Treasury Account"

Today, Monday, Finance Minister Taif Sami Muhammad chaired a meeting to discuss the requirements for designing and implementing the unified treasury system.

A statement from the ministry, received by Alsumaria News, stated that 

the minister "chaired a meeting today, in the presence of the Director General of Accounting, the head and members of the committee supporting the  application of the unified treasury account, representatives of government banks, representatives of the Office of Financial Supervision, the Central Bank of Iraq and the Iraqi Trade Bank, to discuss the requirements for designing and implementing the unified treasury system."  The meeting discussed 

"plans to reform the public finance sector through the application of the unified treasury account, which represents a qualitative leap in the management of public funds, as 

the project will allow the possibility of monitoring the movement of funds and their safety."  Sami stressed, 

"The need to continue the ministry's efforts through the committees formed for the purpose of implementing the system to complete the steps of the project, which represents one of the pillars of developing the ministry's policy towards reforming the financial sector and the optimal implementation of the stages of the unified treasury account project." 

https://www.alsumaria.tv/news/economy/463948/اجتماع-في-وزارة-المالية-حول-حساب-خزينة-الموحد