Sunday, January 28, 2024
Private Sector Council: A Real Approach From The Government To Support The Expansion Of Projects, 28 JAN
Private Sector Council: A Real Approach From The Government To Support The Expansion Of Projects
Projects Economy News – Baghdad The Private Sector Development Council confirmed on Friday that it will be an essential support for the government in achieving development and construction, indicating that there is a real intention from the government to support the expansion of projects.
The expert in the Private Sector Development Council, Rahma Shaker Al-Kubaisi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “there is a state trend towards the private sector and truly supporting it to move towards expansion of projects as is found in developed countries.”
She added, "The private sector throughout Iraq must have a real effective role," stating, "The first founding meeting of the permanent Private Sector Development Council will be the gateway for investors and businessmen and businesswomen."
She added, "Women have come to represent many competent authorities, and therefore their presence within the private sector is important," noting that "ideas allow women to participate in the private sector more than in the government sector." 01/26/2024 https://economy-news.net/content.php?id=39841
"RV UPDATE" BY WALKINGSTICK, 28 JAN
Walkingstick
At any time of notice the next step in the monetary reform IMO will be very quickly at a moments notice.
They are now in Davos... Iraq's monetary reform is a hot topic because Iraq's monetary reform is restoring confidence in the Middle East...These conferences are only by invitation only. To see Iraq there and to be the star at the Davos meeting tells us Iraq is no longer with a program rate. It is an impossibility...
Movements before they release the lower denoms and new exchange rate we expected to see this...
December was to have everything ready in place to go. January all these systems are being implemented through the monetary reform education. From private banks like the one Aki [Iraqi bank friend] represents to international markets as of today January 15, 2024 they're all international now.
It's what we expected...there's not more to say...because everything now is in print...
https://dinarevaluation.blogspot.com/2024/01/rv-update-by-walkingstick-17-jan.html
- Mon. 15 Jan. In Dec. Walkingstick: Everything was ready in place to go. During Jan. all systems were being implemented through the monetary reform education. As oftoday 15 Jan. they’re all international – from private banks like the one Aki [Iraqi bank friend] represents to international markets. It’s what we expected. There’s not more to say because everything is in print now.
The “Merchant” Card...A Practical Step To Limit The Rise Of The Dollar , 28 JAN
The “Merchant” Card...A Practical Step To Limit The Rise Of The Dollar
Economical 01/25/2024 Baghdad: Haider Falih Al-Rubaie The government has intensified its moves aimed at eliminating the rise in exchange rates in the parallel market, which has greatly affected the movement of buying and selling goods and materials in local markets.
Following a package of decisions that contributed to bridging the gap that occurred earlier between the official and parallel dollars, a government source revealed the day before yesterday, About issuing electronic cards to small merchants with a ceiling of $100,000 per month.
The new government step was met with economic welcome that emphasized the importance of this measure in eliminating the significant rise in parallel exchange rates and reducing the jumps in the green currency, in addition to its importance in covering the prices of imported goods at the official dollar rate, thus achieving great stability in the local markets.
A government source stated to the Iraqi News Agency (INA), that “based on the directives of the Prime Minister, Muhammad Shiaa Al-Sudani, and in light of the discussions that took place between the government, the central bank and electronic payment companies for more than two months, a mechanism for issuing electronic cards to small merchants was approved, with a ceiling. It amounts to $100,000 per month to implement payment operations for import purposes, ensuring a reduction in the demand for cash dollars by real merchants.” The source added,
“The new mechanism is subject to five important conditions, including payment companies submitting a request to the Central Bank to obtain approval to develop this product and launch the (merchant) card, as well as specifying the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, according to the statement.
The ceiling of these cards should not exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual implementation.”
The source added that among the requirements for issuing this card is that it “be used for the purposes of purchasing goods and services from known suppliers according to pre-defined white lists, and that the company must bear its duty in accordance with basic requirements, the most important of which are the main international ban lists of the United Nations, the Office of Foreign Assets Control and the European Union.”
Pointing out that the final condition for issuing a merchant card is that “the funds of small merchants be deposited in the branches of various Iraqi banks in Iraqi dinars.”
Immediately after the issuance of these instructions, specialists expressed their opinions regarding this step, which the researcher specializing in economic affairs, Nabil Jabbar Al-Ali, during his interview with “Al-Sabah” saw as positive and could undermine the parallel dollar.
Al-Ali pointed out that “the step is very correct, and will contribute to the ability of small merchants to access transfer tools away from the platform and its requirements,” stressing that this government measure will truly contribute to “ending the phenomenon of smuggling cards with simple transfer capabilities, and the new mechanism will work to reduce the price and influence it.” clearly".
Contrary to the previous opinion, the economic expert, Manaf Al-Sayegh, confirmed that this matter represents nothing but “measures that are not based on sound foundations of what must be dealt with to address the parallel and government exchange rate.” According to Al-Sayegh, during his talk to “Al-Sabah,”
“The problem of solving the dollar is not achieved through measures, but rather by following monetary policies and in accordance with what is internationally accepted, and not measures that represent reactions, as he said.” Al-Sayegh also believes that these cards may not contribute significantly to addressing the rise in the parallel exchange rate, indicating that
large merchants are still suffering from difficulties in obtaining cash financing from the dollar to finance their trade due to the complexities of the Central Bank’s sales platform, in addition to similar difficulties facing travelers.
Al-Sayegh pointed out that the reasons for the rise in the parallel exchange rate are the heavy reliance on importing goods and services and not manufacturing them at home, and the failure to activate industries that can meet consumer requirements.
Al-Sayegh believes it is necessary to stop financing many imports, especially luxury ones, which cause Iraq to lose huge sums of money annually, revive industry and agriculture in the country, and strictly prevent the import of locally produced goods. https://alsabaah.iq/91069-.html
"ANALYSIS OF IRAQ NEWS" BY FRANK26, 28 JAN
Frank26
Article: "The Central Bank monitors the misuse of electronic payment cards outside Iraq" EVERY DAY MORE & MORE CORRUPTION IS BEING REMOVED FROM THE REFORMS OF IRAQ...
Is there a lot of dinars out there? no. The CBI doesn't sell dinars anymore. They stopped about 6 years ago. The demand is great now, look at Davos. So as soon as it floats in the basket the supply and demand is going to move that rate very quickly.. .CITIBANK NOW PLANS ON EXCHANGE IQD BY ARIEL, 24 NOV
ARIEL Are you all reading this and comprehending the imminent ROI? Do you see where we are in this process more clearly now? Do you know...
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...