Parliamentary Finance for / Nina /: Strengthening the balance of Iraqi banks in foreign currency supports the private sector and the local market, 26 NOV

 Parliamentary Finance for / Nina /: Strengthening the balance of Iraqi banks in foreign currency supports the private sector and the local market

The Parliamentary Finance Committee stressed the importance of strengthening the Iraqi banks’ foreign currency balance to support the private sector and the local market.

The head of the committee, MP Atwan Al-Atwani, said in a statement to the National Iraqi News Agency. Nina /, “The increase in the currency exchange rate by accredited banks provides another safe path to meet the local market’s needs for foreign currency.”

He added, "The government has established paths for banking work governed by the controls of applicable laws. This will open broad horizons for the national economy and will also provide hard currency to the local market without the need for the central bank to intervene and bear responsibility."

He continued to say, “The private sector can adopt this by dealing with the electronic currency exchange platform, and dealing with trade in a way that ensures controlling the rhythm of market movement, and also part of this initiative is to support the private sector by establishing local projects that can provide foreign currency and achieve automation in the ports.” Border, tax and customs.”

At the beginning of this November, the Central Bank of Iraq agreed with the American side to facilitate procedures for external transfers, including an agreement to directly enhance the advance balance of a number of banks (ten banks) in dollars.   LINK

Iraqi financial delegation heads to Ankara to discuss trade with Turkey, 26 NOV

 Iraqi financial delegation heads to Ankara to discuss trade with Turkey

Shafaq News / A government source revealed on Sunday that a financial delegation would depart for Ankara the following Monday to discuss and stabilize the trade exchange between Iraq and Turkey through recognized legal and banking methods.

This visit aims to continue the discussions initiated during the initial round of talks held in Baghdad on Wednesday, November 15.

The source informed Shafaq News Agency that the delegation includes the financial advisor to the Prime Minister, three officials from the Iraqi Central Bank, and twelve bank managers from Iraqi financial institutions.

They are set to conduct discussions with several Turkish financial and banking institutions, including the Central Bank of Turkey, the Banking Association, and the Turkish Banking Regulation and Supervision Agency.

The discussions will primarily focus on various topics, including negotiations with Turkish banks to establish correspondent accounts for Iraqi banks in different foreign currencies, facilitating settlements between the two countries, and resolving impediments hindering the execution of this process.

The Iraqi financial delegation is expected to discuss easing the use of credit cards for Iraqi residents and tourists in the Turkish banking market.

The regulation of trade exchange between the two nations will be deliberated through Turkish and Iraqi customs authorities matching supplied goods to Iraq with financial transfer documents via foreign currency exchange windows, ensuring the protection and stability of trade interests between both countries.

https://shafaq.com/en/Economy/Iraqi-financial-delegation-heads-to-Ankara-to-discuss-trade-with-Turkey

Iraqi Dinar🔥Even Bigger Exchange Rates I Can't Imagine🔥iraqi dinar Rate ...

"RV UPDATE" BY MILITIAMAN, 26 NOV

 Militia Man 

 Article:  "The dollar exchange rates are subject to the forces of supply and demand in the market" 

 By adding other currencies from around the world they're going do diminish the need for the dollar and therefore it's basically going to go away...these guys are not playing games anymore...The US Treasury, Central Bank of Iraq, US Federal Reserve they are all working towards going one direction and that's to enhance the Global Financial System...

Article:  "The highest among the Gulf countries.. The Arab Monetary Fund expects the Iraqi economy to grow by 4.5%"  

There is likely no doubt that Iraq is about to have massive growth going forward. To be the highest just now among all middle eastern countries is going to be a big deal. I suspect the ISX is going to be on fire this next year even more so than ever before..

 There's things happening as we speak - one thing after another.  I can't imagine anybody being discouraged at this time because of the nature of what's happening

Iraq-Turkey Financial Talks Imminent, Kurdistan Government Eyes Budget Discussion in Baghdad, 26 NOV

 Iraq-Turkey Financial Talks Imminent, Kurdistan Government Eyes Budget Discussion in Baghdad

As per a reliable government source, a delegation from Iraq comprising the Prime Minister’s financial advisor, three officials from the Central Bank of Iraq, and directors of 12 Iraqi banks are poised to embark on a crucial journey to Turkey. Their itinerary includes in-depth interactions with multiple Turkish financial and banking institutions. The key talking points will revolve around the initiation of correspondent accounts for Iraqi banks in foreign currencies, the introduction of credit card usage for Iraqi citizens and tourists within the Turkish banking market, and the regulation of trade exchange between Iraq and Turkey through a foreign currency buying and selling window.

High-Level Delegation to Visit Baghdad

A high-level delegation from the Kurdistan Regional Government (KRG) is scheduled to visit Baghdad. The primary agenda for this visit includes discussions on the salaries of KRG employees, the KRG’s share of the federal budget, and the reinstatement of oil exports from the Kurdistan region and Kirkuk through the Turkish port of Ceyhan. The delegation’s objective is to secure the constitutional rights of the people of Kurdistan, with special attention to those who are salaried employees.

Negotiating Oil Exports and Production Costs

The delegation will also delve into the challenges of recommencing oil exports and the federal government’s ability to cover the production and extraction costs. The KRG’s intent is to resume oil exports, conditional on the federal government’s capacity to shoulder the cost of oil production and extraction.

Call for Commitment Towards Financial Obligations

Qubad Talabani, Deputy Prime Minister of Iraq’s Kurdistan Regional Government (KRG), has called on the federal government in Baghdad to fulfill its financial obligations towards the autonomous region. He emphasised the urgent need for the federal government to resolve the issue of Kurdistan’s share in the budget and fund the salaries of public servants. A high-ranking KRG delegation is slated to visit Baghdad on Monday to discuss the budget, public servants’ salaries, and the resumption of oil exports from Kurdistan and Kirkuk via the Turkish port of Ceyhan.

https://bnn.network/world/turkey/iraq-turkey-financial-talks-imminent-kurdistan-government-eyes-budget-discussion-in-baghdad/

Iraq and Turkey: A Move Towards Stronger Economic Ties, 26 NOV

Iraq and Turkey: A Move Towards Stronger Economic Ties

In the backdrop of an evolving global landscape, Iraq and Turkey are forging a path towards stronger economic and financial ties. A high-profile delegation from Iraq is set to journey to Ankara, Turkey, to discuss three key economic and financial files. This move is aimed at bolstering bilateral relations and cooperation between the two neighboring nations across diverse sectors. 

Fostering Economic Stability

The Iraqi delegation, comprising the financial advisor to the Prime Minister, officials from the Iraqi Central Bank, and bank managers from Iraqi financial institutions, is poised to negotiate with Turkish banks. One of the primary objectives is to establish correspondent accounts for Iraqi banks in different foreign currencies. This step is anticipated to facilitate settlements between the two countries and overcome any obstacles hampering this process. 

Enhancing Accessibility

Another focal point of the discussions will be the potential simplification of the use of credit cards for Iraqi residents and tourists in the Turkish banking market. This initiative could pave the way for smoother financial transactions and potentially boost tourism and business relations between Iraq and Turkey. 

Strengthening Regional Partnerships

A high-level delegation from the Kurdistan Regional Government (KRG) is also scheduled to make a trip to Baghdad. The team aims to address critical issues surrounding the salaries of KRG employees, the KRG’s share of the federal budget, and the resumption of oil exports from the Kurdistan region and Kirkuk via the Turkish port of Ceyhan. The delegation will strive to ensure the constitutional rights of the people of Kurdistan, particularly those receiving salaries. 

These meetings between Iraq and Turkey underscore ongoing diplomatic efforts to enhance regional partnerships and economic ties. While the specific details of the files under discussion remain undisclosed, they likely encompass trade, investment, and other financial collaborations that could foster mutual economic growth.

https://bnn.network/world/turkey/iraq-and-turkey-a-move-towards-stronger-economic-ties/

 

Great news the IQD leaving the country BY NADER FROM MID EAST