Finance Announces The Launch Of The Second Issue Of Reconstruction Bonds Worth More Than One Trillion Dinars, 28 NOV

 Finance Announces The Launch Of The Second Issue Of Reconstruction Bonds Worth More Than One Trillion Dinars

Tuesday 28, November 2023 | Economical Number of readings: 487

Baghdad / NINA / The Ministry of Finance announced on Tuesday that it intends to make the second issue of reconstruction bonds available.

The ministry stated in a statement, “Given the strong demand for trading national bonds (reconstruction bonds) and the complete subscription of the first issue amount, the ministry, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, intends to make the second issue of reconstruction bonds available at a value of 1.5 trillion dinars.” Iraqi) and with the same mechanism previous to the first issue.

She added, "This measure comes in implementation of the paragraphs of the government program related to enhancing the development and investment aspects represented by the reconstruction and construction movement that our dear country is witnessing, in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall economic activity through investment in bonds," noting that "these bonds are issued with a guarantee."

 The Ministry of Finance, and it is possible to purchase the bond by submitting an application to one of the official banks approved and registered with the Central Bank.”

The Ministry called on "investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity," noting that "the size of this issuance will be limited."

She explained that “the second issuance of bonds worth one and a half trillion dinars is negotiable on the Iraqi Stock Exchange, and is available in two denominations: - The first at a price of

(500,000) dinars, with an annual interest of 6% for two years.

- The second at a price of 1,000,000 dinars, with an annual interest of 8 % for four years.

She pointed out that “purchasing and trading the bonds offered are exempt from taxes according to what is stated in the General Federal Budget Law No. 13 of 2023.”/End 11

https://ninanews.com/Website/News/Details?key=1092285

Overthrowing A Network That Manipulated Dollar Exchange Rates In Baghdad, 28 nov

 Overthrowing A Network That Manipulated Dollar Exchange Rates In Baghdad

Economy News – Baghdad  The General Directorate of Intelligence and Security announced, on Tuesday, the overthrow of a network that manipulated the dollar exchange rates in Baghdad .

The directorate stated in a statement, seen by Al-Iqtisad News, that “it is part of a series of specific duties carried out by the General Directorate of Intelligence and Security at the Ministry of Defense, and after the availability of accurate information about a group of smuggling gangs and speculators at the price of the dollar, through their carrying out remittance operations and buying and selling the dollar, contrary to instructions.

” The Central Bank of Iraq, the detachments of the Baghdad Intelligence and Security Directorate, affiliated with the same directorate, boycotted the information, and after obtaining judicial approvals, they were able to raid one of the banking companies in the Karrada area in Baghdad. ”

She added, "The operation resulted in the arrest of five accused speculators in the dollar exchange rate, in addition to carrying out remittance operations contrary to official instructions," noting that "they were handed over to the legally competent authorities. "

Views 44 11/28/2023 - https://economy-news.net/content.php?id=37928

Revamp of Iraq’s Budget Law: A Potential Shift in Economic Landscape, 28 NOV

 Revamp of Iraq’s Budget Law: A Potential Shift in Economic Landscape

In a significant political development, Herem Kamal Agha, a key figure in Iraq’s economic landscape, has declared that the nation’s budget law is under revision. This announcement indicates a potential shift in Iraq’s financial planning and resource allocation, which could carry profound implications for the country’s economic and political future.

Amendments: A Collective Effort

The process of amending the budget law is likely to involve a diverse range of stakeholders, including government officials, policymakers, and possibly international advisors. Their collective input will shape the course of Iraq’s economic policies, potentially influencing public services, infrastructure projects, and investments.

A New Economic Era

These amendments could fundamentally alter Iraq’s economic stability. The potential ramifications are vast, with the potential to touch every sector of the nation and its populace. This legislative change is not only significant within Iraq but will also be closely monitored by international observers interested in the nation’s economic trajectory.

Indications of Change

Recent signs of changing economic dynamics have been spotted. The Turkish government has hinted at the possibility of oil beginning to flow once more along the Iraq Turkey Pipeline following a months-long shutdown. This development is promising for Iraq, given the critical role oil plays in its economy. The Economic Relations Department of Iraq’s Ministry of Trade also participated in a conference to formulate Iraq’s five-year national development plan, underscoring the nation’s commitment to a collaborative and forward-thinking approach to economic development.

https://bnn.network/politics/revamp-of-iraqs-budget-law-a-potential-shift-in-economic-landscape/

Iraq Aims to Modernize Economy with Shift to Electronic Payments, 28 NOV

 Iraq Aims to Modernize Economy with Shift to Electronic Payments, 28 NOV

In a recent proclamation, Prime Minister of Iraq, Mohammed Shia’ Al Sudani, underscored the imperative for Iraq’s financial systems to transition towards an electronic payment system. This significant shift is not just a technological advancement, but a crucial step towards modernizing Iraq’s financial infrastructure and aligning it with global economic practices.

Prime Minister Al Sudani emphasized the substantial economic benefits that an electronic payment system would bring. The shift towards digital transactions would not only streamline financial processes but also enhance overall economic efficiency. The move is deemed necessary to cope with the rapid changes in the global financial landscape, where digital transactions have become the norm rather than the exception.

Clampdown on Corruption

Another substantial advantage of this transition is the potential to reduce corruption. By embracing electronic payments, the government aims to increase transparency in economic dealings, making it harder for corrupt practices to go unnoticed. This move, therefore, not only brings financial efficiency but also fortifies the fight against corruption.

This shift towards electronic payments is part of a broader effort to modernize Iraq’s financial systems. By aligning with global economic practices, Iraq is positioning itself to be more integrated with the worldwide economy, and thereby attract more foreign investments. The move is seen as a significant leap forward in a country that has been grappling with the aftermath of war and political instability.

https://bnn.network/world/iraq/iraq-aims-to-modernize-economy-with-shift-to-electronic-payments/

Iraqi Dinar🔥Even Bigger Exchange Rates For IQD Holders Today 2023🔥iraqi ...

"EVENING MARZ NOTES" (ENGLISH & SPANISH), 28 NOV

 Monday Night News with MarkZ 11/27/2023

Member: Good night and full moon tonight……

Member: I hope we get even a sliver of good RV news tonight.

Member: Open the doors and let it reset!

MZ: Today I hear that they are educating people and spreading lower denominations... completely new lower denominations. From what I hear, they are now more prominent in the Kurdish region.

MZ: Several ministers have said that the "parallel market" will be resolved in the coming days. How are they going to fix that? A revaluation.

MZ: The rumors in Iraq are tremendously impressive right now.

Member: I love the talk, but let's see some real action!!!

Member: Frank says they are handing out leaflets to the public in Iraq. I'd sure like to see one of those flyers.

MZ: I haven't heard of the brochures, but I have heard that the banks are educating people in Iraq and giving us learning materials. Maybe that's what he's talking about.

Member: What is your gut telling you right now?

MZ: He was shouting “by December 1” and with the news coming out of Iraq, I wouldn't be surprised to see him this week. BUT NO ONE KNOWS THE EXACT MOMENT.

MZ: The group leaders say they “are ready to distribute.” They are simply waiting for permission to distribute to group members. Which to me means they already have the money to deliver. I heard this from 3 different groups. They are ready to release the funds right now. I think this is exciting.

MZ: No news from CMKX….yet

Member: At TNT, they thought the bolivar would cost around 0.30 cents.

MZ: I've heard that too... But I don't know what the final rate will be.

Member: I hope and pray we all have a fantastic Christmas!!

Member: But we'll be happy with the RV before that...lol

Mod: HAVE A BLESSED NIGHT GUYS!

TRASLATION IN SPANISH" 

Noticias del lunes por la noche con MarkZ 27/11/2023

Miembro: Buenas noches y luna llena esta noche……

Miembro: Espero que recibamos aunque sea una pizca de buenas noticias sobre vehículos recreativos esta noche.

Miembro: ¡Abre las puertas y deja que se reinicie!

MZ: Hoy escucho que están educando a la gente y difundiendo denominaciones inferiores... denominaciones inferiores completamente nuevas. Según he oído, ahora son más prominentes en la región kurda.

MZ: Varios ministros han dicho que el "mercado paralelo" se solucionará en los próximos días. ¿Cómo van a arreglar eso? Una revalorización.

MZ: Los rumores en Irak son tremendamente impresionantes en este momento.

Miembro: Me encanta la charla, pero ¡¡¡veamos acción real!!!

Miembro: Frank dice que están repartiendo folletos al público en Irak. Seguro que me gustaría ver uno de esos volantes.

MZ: No he oído hablar de los folletos, pero he oído que los bancos están educando a la gente en Irak y entregándonos materiales de aprendizaje. Quizás sea de eso de lo que está hablando.

Miembro: ¿Qué te dice tu instinto en este momento?

MZ: Estaba gritando “para el 1 de diciembre” y, con las noticias que llegan de Irak, no me sorprendería verlo esta semana. Pero NADIE SABE EL MOMENTO EXACTO.

MZ: Los líderes del grupo dicen que “están listos para distribuir”. Simplemente están esperando permiso para distribuir a los miembros del grupo. Lo que para mí significa que ya tienen el dinero para entregar. Escuché esto de 3 grupos diferentes. Están listos para liberar los fondos ahora mismo. Creo que esto es emocionante.

MZ: No hay noticias de CMKX….todavía

Miembro: En TNT, pensaron que el bolívar costaría alrededor de 0,30 centavos.

MZ: Yo también he oído eso... Pero no sé cuál será la tasa final.

Miembro: ¡¡Espero y rezo para que todos tengamos una Navidad fantástica!!

Miembro: Pero estaremos contentos con la casa rodante antes de eso… jajaja

Mod: ¡TENGAN UNA BENDITA NOCHE CHICOS!

Iraq’s Pending Financial Decision: A Stumbling Block for Kurdistan’s Salary Disbursement, 28 NOV

 Iraq’s Pending Financial Decision: A Stumbling Block for Kurdistan’s Salary Disbursement

In a recent turn of events, the Council of Ministers of Iraq has yet to authorize the last tranche of 700 billion Iraqi dinars, earmarked for the salaries of the Kurdistan Region’s employees. This development, as informed to Rudaw by a source involved in the meeting, indicates that the Iraqi government still has some time to ponder over the decision of transferring additional funds to the Kurdistan Region.

Baghdad-Erbil: An Ongoing Financial Dispute

The Prime Minister of the Kurdistan Region, Masrour Barzani, confirmed that the regional government’s delegation visiting Baghdad is engaged in critical discussions. The central focus of these discussions is to find lasting solutions to the ongoing disagreements and issues between Erbil and Baghdad. The delegation’s current presence in Baghdad is primarily to address a plethora of unresolved issues with the federal government, especially those concerning the budget and the delayed funding for the people of Kurdistan’s salaries.

Barzani underscored the importance of settling the oil dispute through an advanced federal oil and gas law. This law, based on the permanent constitution, would enable the region to resume oil production and exports, providing benefits not only to Kurdistan but also to  all Iraqi citizens.

Kurdistan’s Salary Crisis

In a related development, Iraqi security forces barred hundreds of teachers from the semi-autonomous Kurdistan region from reaching Baghdad. These education workers have been demanding that the federal government pay their delayed salaries. Public sector teachers in Sulaimaniyah and Halabja provinces have been boycotting classes since mid-September, citing unpaid salaries by the Kurdistan Regional Government (KRG).

The KRG had frozen pay hikes for all public sector employees and security forces in 2016 following a slump in oil prices. However, it later increased salaries for Peshmerga forces and judges. According to the KRG, it requires 940 billion Iraqi dinars ($602 million) to pay monthly salaries to over 1,200,000 civil servants but cannot do so without regular financial support from Baghdad. This unresolved issue casts a long shadow over the region’s economic stability and the livings of numerous citizens.

https://bnn.network/politics/iraqs-pending-financial-decision-a-stumbling-block-for-kurdistans-salary-disbursement/