Saturday, September 23, 2023
The Price Of The Dollar Fell Against The Dinar In The Markets Of Baghdad And Erbil , 23 sept
The Price Of The Dollar Fell Against The Dinar In The Markets Of Baghdad And Erbil
2023-09-23 03:03 Shafaq News/ Dollar prices decreased today, Saturday, in Baghdad markets and in Erbil, the capital of the Kurdistan Region.
Shafaq News correspondent said that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 155,200 dinars against 100 dollars, while prices last Thursday were 156,000 dinars against 100 dollars.
Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 156,250 Iraqi dinars, while the purchasing price reached 154,250 dinars for every 100 dollars.
As for Erbil, the stock market does not trade on official holidays, but the dollar recorded in banking shops is the selling price of 155,100 dinars against the dollar, and the purchase price of 155,000 dinars against 100 dollars. LINK
Weekend News with MarkZ 09/23/2023
Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector, 23 SEPT
Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector
On Friday, economic expert Ziad Al-Hashimi highlighted the challenges faced by the Iraqi monetary and banking sector. He pointed out that the Central Bank’s pressure measures, which apply to all banking companies without differentiation between compliant and defaulting ones, create confusion in a monetary work environment that is not managed or monitored accurately and clearly by the central bank.
Al-Hashemi, speaking to “Jarida”, highlighted one of the key challenges faced by the Iraqi monetary and banking sector. He pointed out that the Central Bank and local banks have been unable to create an effective and appealing banking environment with competitive costs that can earn the trust of citizens. The sector needs to provide flexible and smooth banking services that encourage citizens to deal with banks instead of resorting to exchange companies for cash services.
He went on to say that the Central Bank has not yet been able to establish clear and specific standards for evaluating the work and performance of exchange companies, which makes it difficult to distinguish between compliant and negligent companies.
According to the economic expert, the Central Bank’s pressure measures were applied to all banking companies, causing harm and restrictions even on those who adhere to central controls and maintain a high level of compliance.
Al-Hashimi stated that a lack of accurate and clear management and monitoring by the Central Bank creates confusion and uncertainty in monetary business environment.
"RV UPDATE" BY JSSMI765 , CLARE & WALKINGSTICK, 23 SEPT
jssmi765
As I was looking through all my old Dinar related documents, I came across one from 2012 which listed all the things that needed to take place for the RV to happen. Interestingly, it is only within the last few of weeks/days that everything that was listed has finally been completed...
I also found an old document from 2011 which was a Q & A with someone at Treasury who was one of the original planners of the RV. It was the reason I became a true believer back in the day...This is real people...It's time.
Clare
Article: "House Foreign Affairs Committee will hold a hearing next week on repealing the law that made the 2003 Iraq invasion possible" Quote:
"The hearing, scheduled for 10 am next Thursday, is expected to address both the repeal of the 2002 authorization of the use of military force (AUMF) against Iraq and the replacement of the 2001 AUMF, according to one person familiar with the planning."
Walkingstick
[Iraqi Banking friend Aki update] The ATMs are ready to go with the 'new currency'. The CBI was talking with the private banks on when to bring them online. No date was given at the meeting. But they will be notified when to bring these new ATMs online...
Pimpy
Potential good news for Iraq that could affect the Iraqi dinar...to me it is a good sign and it is good news...
Article: "The US House of Representatives will hold a session next week to cancel the authorization for the invasion of Iraq" This here is a biggie...There's pros and cons to this...the cool thing is - if this authorization is reversed this would give Iraq their full sovereignty. That means they're on their own. There's no more training wheels. There's not more kit gloves...this could have both a positive and negative impact on the currency...
Al-Sudani meets with the American Chamber of Commerce and reveals a set of visions and plans, 23 SEPT
Al-Sudani meets with the American Chamber of Commerce and reveals a set of visions and plans
Our government invests revenues correctly to activate important economic sectors other than oil, as it is not possible to continue to rely on oil to strengthen the budget and cover obligations, as was the case throughout the previous stage. The wrong path in wasting burned gas will stop within 2-3 years, after the completion of the gas projects that began with Total and the Emirati and Chinese companies in the fifth round. We announced 11 fields and exploration blocks in the governorates; Anbar, Nineveh, and Najaf, which include natural gas that will be invested for the first time in Iraq’s history.
Economic reform is a priority, and it cannot be implemented without the presence of an effective and capable private sector that is a partner with the government. We focused on providing a favorable business environment for foreign companies in general, and American companies in particular, by virtue of the capabilities they possess, and also within the path of the vision for the partnership between Iraq and the United States. The relationship between Iraq and the United States cannot remain limited to the security aspect. The business environment in Iraq requires a great effort to reduce bureaucracy, and we have the decision and will to stop corruption through legal measures, and companies cannot be made vulnerable to blackmail or red tape. Every project and file related to a company will be personally sponsored and followed up by us, and we will work to overcome all obstacles you face. We are working to reform the tax system and the customs system, and we are currently preparing a draft economic reform law that addresses loopholes in several laws. We have a draft system to regulate e-commerce, and the government is committed to protecting intellectual property, and we approved a draft law that was sent to the House of Representatives for a vote. We are working diligently on the draft electronic payment law, and we have made great strides in financial and banking reform, through our relationship with the Federal Reserve and the US Treasury. Today we have clear and transparent trade subject to global compliance standards in money transfers. The Ministry of Commerce, through the Commercial Attaché in Washington and with the US Trade Representative Office, is working to hold the meetings of the third session of the Trade and Investment Framework Agreement, in the first quarter of 2024.
The function of this agreement is to identify the challenges facing trade and investment relations between Iraq and the United States. We call on all American companies to present the challenges they face in their presence and work in Iraq. We supported the private sector in the budget law, through the Iraq Fund for Development, whose capital reaches $750 million during 2023, and in 2024 we will add an additional amount. We are currently conducting understandings with Arab and international investment funds, specifically with the Saudi Investment Bank, where we have a partnership in this aspect. The government will provide sovereign guarantees in the budget law to establish industrial and agricultural projects in Iraq. We have understandings with the German Hermes Foundation and the Italian Sochet Foundation, and they are prepared to provide production lines to important laboratories and factories in the industrial sector in exchange for 15% from Iraqi businessmen and 85% provided by the government as a sovereign guarantee. A delegation of Iraqi businessmen toured Germany and Italy and identified factories, and is currently in the process of reaching understandings to implement these projects that were chosen according to market requirements. We want to achieve a real shift in health services, and we have a health insurance law, and we have a new philosophy that represents a transitional stage for implementing this law, through joint operation with companies specialized in providing health services.
We offered 6 hospitals and we hope that there will be American companies specialized in providing medical and therapeutic services in operating these hospitals. The size of the pharmaceutical market in Iraq is approximately $3 billion annually, with national production representing only 10%, and the rest is imported. The Council of Ministers issued a package of decisions to support pharmaceutical producers, and today there are more than 245 requests to establish production lines for the pharmaceutical industry. We are strongly moving towards using modern irrigation techniques to confront water scarcity. We concluded contracts with Emirati, Chinese, and Iraqi companies to establish solar power stations, and we concluded a contract with Total to generate 1,000 megawatts of solar energy.