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Al-Nasik Islamic Bank Renews Calls For Developing The Banking System , 17 JAN

 Al-Nasik Islamic Bank Renews Calls For Developing The Banking System 

January 15, 2024 Last updated: January 15, 2024  Al-Independent/- The authorized director of Al-Nasik Islamic Bank, Dr., confirmed. Abdel Hafez Abdel Latif: 

Achieving economic renaissance apart from adopting an advanced banking system is something that cannot bring the economy to its desired goals. Abdul Latif said, 

 “We affirm that the basis for building the economy is based on the possibility of adopting an advanced global monetary system capable of providing support for service and production economic projects.”

He pointed out:

The local and foreign investment effort wishing to enter Iraq is in dire need of advanced banking services that guarantee capital entering the country, in addition to the capabilities of supporting projects financially. He pointed out that  there is confusion in the performance of some banks,

while at the same time there are private banks that provide acceptable services, especially since they are required to provide the best services by adopting advanced monetary work methods that they must follow within their work system.

https://mustaqila.com/مصرف-الناسك-الاسلامي-يجدد-دعوات-تطوير/

"ANALYSIS OF IRAQ NEWS" BY MNT GOAT, 17 JAN

A PRECISE BREAKDOWN OF MONETARY POLICY IN IRAQ

The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Sunday, the mechanism of monetary policy in Iraq.

(When Saleh talks… I listen. How about you? )

Saleh said {to Al-Furat News} that: “The monetary policy works to ensure that the price of the dollar in the parallel market is close to the nominal price through procedures and measures by using its operational objectives, whether {quantitative} of them, that is, by controlling and sterilizing surplus liquidity opportunities with high flexibility.”

He added, “Or the {price} that requires effective use of the exchange rate and interest rate signals in order to maintain the superiority of the Iraqi dinar, stabilize its value in the overall economy, and minimize the role of the secondary exchange market, which must approach the central exchange rate of 1,320 dinars per dollar.”

Saleh added, “Providing the national market with consumer and intermediate commodity products and supplies with stable prices will be among the government’s import priorities, whenever necessary, in order to achieve a balance between supply and demand and achieve price stability for basic and important commodities, in accordance with the requirements of a stable standard of living.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraq Boosts Iraqi Dinar to Reduce Overreliance on U.S. Dollar

"RV UPDATE" BY FRANK26, 17 JAN

 Frank26  

 Question:  "Is  [Firefly boots on the ground in Iraq] optimistic or frustrated?" 

 Both.  He's optimistic because he knows what Sudani and the CBI have been telling the citizens of Iraq...Because he can go into a bank in Iraq now and ask questions and they will answer them point blank.  But he's also frustrated because how much longer?  We're talking about going into...January already.  This thing should have happened at the beginning of the year .  What's the hold up?  Why are we waiting?

 I don't think they're waiting for much of anything right now.  They're moving fast.  They're moving quickly in every aspect of the monetary reform.  The next step is to show the lower denoms...new exchange rate and to allow it to float on an international platform...These are not subjects we are proposing to you, these are subjects that are in the articles themselves...  

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Parliamentary Finance reveals that the 2024 budget is about to reach its legislation, 17 JAN

 Parliamentary Finance reveals that the 2024 budget is about to reach its legislation

Baghdad - Iraq Today:  2024/01/16 09:24

The Parliamentary Finance Committee resumed its regular meetings at the beginning of the new legislative term, while confirming the imminent arrival of the budget law for the year 2024.

The media office of the head of the committee said in a press statement: "The parliamentary finance committee, headed by Atwan Al-Atwani, resumed its regular meetings at the beginning of the new legislative term to discuss a number of topics related to its legislative and oversight work."

He added that "the meeting discussed ways to conduct a quick review of the work of the committee during the past legislative term and determine the priorities of the next stage in accordance with the ministerial curriculum, whether in terms of completing the requirements of legislating important laws or monitoring spending and overcoming obstacles and obstacles that delay the implementation of service and development plans and programs."

Al-Atwani stressed - according to the statement - that "the committee is waiting for the arrival of the budget law for the year 2024 soon to make the necessary amendments to its schedules," stressing "the need to determine our priorities in accordance with the government program."

"We will have field visits in the coming days to ministries and provinces to follow up on the implementation of plans and programs," he said, addressing committee members by saying: "Your presence in the field is enough to solve all legal and technical problems that delay the referral of strategic projects and hinder the completion of those who lag behind them."

"We have allocated additional funds to the provinces in order to implement strategic projects, and this requires us to follow up on funding and implementation," he said, pointing to "the need to work to overcome obstacles to completing school building projects that have been lagging for years."