Tuesday, November 28, 2023
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
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/
"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
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