Parliamentary Finance Committee discusses amending the budget law for approval, 28 nov

Parliamentary Finance Committee discusses amending the budget law for approval

The Parliamentary Finance Committee revealed its vision on the draft first amendment to the Federal General Budget Law for the fiscal years (2023-2024-2025), which the House of Representatives completed its first reading in its session on Tuesday.

Member of the committee, MP Jamal Kocher, stated that the Finance Committee discussed the non-oil revenues file, and the draft amendment to the federal general budget law for the three fiscal years, related to maximizing revenues, as well as re-correcting the estimated costs of extracting oil from fields within the Kurdistan Region.

He explained, "The draft amendment sent by the government only includes Article 12 related to the costs of producing oil in the Kurdistan Region, and does not include amending any other article in the budget," indicating that, "There is still a need to collect detailed data with numbers and tables to ensure the approval of the appropriate amendment."

DINAR REVALUATION REPORT UPDATE: A NEARLY COMPLETE CENSYS, A SUSPENDED DEAL WITH CHINA, CHANGE IN THE CURRENT DINAR RATE ETC, 28 NOV

DINAR REVALUATION REPORT UPDATE

Summary

Iraq’s current developments include a nearly complete census, a suspended deal with China, and updates on the Iraqi Dinar’s valuation and self-employed tax credits.

Highlights

• 📊 Census nearly complete with Iraq’s population over 45 million.
• 🇨🇳 Iraq suspends $10 billion deal with China, impacting regional dynamics.
• 💰 Self-employed individuals may receive tax credits before Christmas.
• 📉 Current Dinar price at 1,155,000 to 100 USD in Baghdad.
• 🏦 New banking mechanisms set to improve Iraq’s financial operations.
• 🚀 Positive monetary outlook with the Central Bank’s ongoing developments.
• 🎉 Celebrations anticipated for successful banking transitions by early 2024.

Key Insights

• 📈 The completion of Iraq’s census reveals a significant population increase, indicating potential for economic growth and resource allocation.
• 🌍 The suspension of the China deal suggests Iraq’s desire for sovereignty and careful navigation of international relations, especially with the US.
• 🎁 The self-employed tax credit highlights financial relief opportunities for many affected by the pandemic, providing much-needed funds before the holidays.
• 💵 The Dinar’s current valuation indicates a stable yet cautious financial environment, affecting investment and trade.
• 🔄 Iraq’s new banking mechanisms aim to enhance efficiency in financial transactions, fostering domestic and international investment.
• 💼 The Central Bank’s positive monetary position suggests strengthening economic policies that could benefit the Iraqi Dinar in the long run.
• ⏳ The transition to improved banking operations is on track, with significant milestones expected by early 2024, which may further stabilize the economy.

DINAR REVALUATION REPORT UPDATE: A NEARLY COMPLETE CENSUS, CHANGE IN THE CURRENT DINAR RATE ETC

 

Washington trusts Iraqi banks, and the ambassador talks about attracting investments, 28 nov

 Washington trusts Iraqi banks, and the ambassador talks about attracting investments

The US Ambassador to Iraq, Alina Romansky, expressed her country's confidence in Iraqi banks today, Monday.

Romansky said in an interview with a number of media outlets: “America has taken vital positions to reduce regional escalation towards Iraq,” noting that “the agreement to end the presence of the international coalition in Iraq is in effect and we are committed to the timing.”

She pointed out that "the transition in the missions of the international coalition provides a deepening of bilateral relations with Iraq," stressing that "we have confidence in Iraqi banks and relations between Iraq and America are developing."

She stressed Washington's commitment "with the Prime Minister to support Iraq and attract investments from all countries," noting that "there is gradual economic development and American investments, which is a good indicator for the Iraqi economy.

LAST POSTS FROM MAJEED, 28 NOV

 MAJEED

yesterday the council of minister passed the law of adjusting the salaries That Law is No 22. 2008 And guess what? It was in the Gazette since Sep… but the file it’s not there anymore Adjusting salaries with the new rate

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CBI announced auction (B229 )to go live December 1 And the purpose of this auction B229 is to stabilize the Iraqi dinar against the dollar

GOING INTERNATIONAL

MAJEED: IRAQ IS ADJUSTING SALARIES WITH THE NEW RATE & STABILIZING THE IRAQI DINAR RATE @DINARREVALUATION

DINAR REVALUATION REPORT: Iraq launch the Visa card for E-Shopping, 28 NOV

 Iraq launch the Visa card for E-Shopping

The currency has to be in forex for citizens to be able to purchase online from foreign sellers

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Trade Bank of Iraq launches first experimental Visa card

The Trade Bank of Iraq announced the launch of the first experimental Visa Card.

The bank’s media advisor, Aqil Al-Shuwaili, said in a statement, “The Trade Bank of Iraq has begun launching the first experimental Visa card.”

He pointed out that "this visa included features for use in the online shopping process as well as for use in purchase