Central Bank of Iraq increases Capital

22nd May 2022 in Iraq Banking & Finance News

By John Lee.

The Central Bank of Iraq (CBI) has reportedly announced an increase in its capital.

State-owned Iraqi News Agency (INA)said that the capital will be increased from 3 trillion dinars (approximately $2 billion) to 5 trillion dinars.

It quotes the media office of CBI as saying that the increase was made using part of the profits achieved by CBI in 2021.

(Source: INA)


Erbil wants to develop trade relations with Washington: 138 American companies are operating in the region

KurdistanWashingtonErbilEconomic Relations

 2022-05-21 13:36A-AA+

Shafaq News/ The head of the local government in Erbil Governorate, the capital of Kurdistan Region, Omid Khoshnaw, expressed on Saturday the region’s desire to develop economic relations with the United States of America.

In a joint press conference held in Washington, DC, with the representative of the regional government in America, Bayan Sami Abdul Rahman, Khoshnaw said that after the year 2014 and the emergence of the terrorist organization ISIS, large numbers of foreign commercial companies left the Kurdistan Region.

He added that the regional government has embarked on a process for the return of foreign companies to conduct their business again.

Regarding the relations between America and the region, American companies are ranked eighth in the classification of foreign companies operating in the region, noting that there are 138 American companies operating in the region.


Kurdish parties sit at the dialogue table in Sulaymaniyah, and the new generation refuses to attend

Baghdad / Obelisk: The leader of the Kurdistan Democratic Party, Wafa Muhammad Karim, revealed, on Saturday, May 21, 2022, what will be discussed by the party’s delegation’s visit to Sulaymaniyah Governorate, headed by the President of the Region, Nechirvan Barzani, and a meeting with the Patriotic Union of Kurdistan.

In an interview with Al-Masala, Karim said that the President of the Kurdistan Region, Nechirvan Barzani, will visit Sulaymaniyah to meet with the Patriotic Union of Kurdistan in his governmental capacity, not the party, and he called on the Kurdish political parties four days ago to sit at the dialogue table, and the position of the Patriotic Union of Kurdistan was positive in accepting the invitation.

He added that Nechirvan Barzani’s call does not include the Patriotic Union only, but also includes all Kurdish political forces, including the Kurdistan Democratic Party.

He pointed out that this visit does not come within the initiative that the party leader, Massoud Barzani, spoke about, because the latter’s initiative includes all political parties in Iraq, but this initiative concerns the Kurdish political house only.

The head of the new generation movement, Shaswar Abdul Wahed, refused to meet with the President of the Kurdistan Region, Nechirvan Barzani, who will visit Sulaymaniyah province tomorrow to meet the political parties.

Meanwhile, Hemdad Shaheen, the official spokesman for the New Generation Movement, stated that his party refused to meet with the President of the Kurdistan Region because the movement attends meetings that concern citizens’ interests and address their problems and to discuss sensitive issues, not sham meetings, as he put it.

He pointed out that, in principle, we do not refuse to sit at the dialogue table with any of the political parties, but we attend in order to solve citizens’ problems only and not for the purpose of media photography and protocol meetings.


Barzani internationalizes internal differences: The Security Council approves his request to organize negotiations between Baghdad and Erbil

2022/05/21 14:31

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  • Section : Iraq

Baghdad / Obelisk: The UN Security Council agreed, on Saturday, May 21, 2022, to send a UN envoy to organize negotiations that would develop radical solutions to the existing differences between Baghdad and Erbil.

The media office of the Kurdistan Region Presidency stated in a statement, “The UN Security Council approved a request submitted by the President of the Region, Nechirvan Barzani, to send an envoy to the United Nations in order to organize negotiations between Erbil and Baghdad to find a radical solution to the outstanding issues between the two sides.”

He also noted that “the Security Council will issue next week a draft resolution to renew the work of the United Nations mission, and to discuss the issue in a special session.” Political sources were amazed at the UN Security Council’s involvement in an internal Iraqi dispute, usually an attempt by the region to internationalize the problems between Baghdad and Erbil, as well as setting a dangerous precedent for external interference in Iraqi internal files.


About a billion dollars in bank sales in a week

economyU.S. dollarbreakingcentral bank sales

 2022-05-21 08:26A-AA+

Shafaq News/ The Central Bank of Iraq’s sales of hard currency to the dollar during the past week amounted to nearly one billion dollars.

Shafak News Agency correspondent stated, “The Central Bank sold during the past week for the five days in which the auction was opened, from Sunday to Thursday, 979 million and 276 thousand and 369 dollars, at a daily rate of 195 million and 978 thousand and 073 dollars, an increase of 0.2% from last week.” .

Our correspondent added; “Most of these sales went in the form of remittances abroad to finance foreign trade, while the selling price of the dollar transferred to bank accounts abroad, in addition to the cash sale, amounted to 1460 dinars per dollar.”


The President of the Kurdistan Region visits Sulaymaniyah

KurdistanSulaymaniyahbreakingNechirvan Barzani

 2022-05-21 08:22A-AA+

Shafaq News/ The President of Kurdistan Region, Nechirvan Barzani is scheduled to visit the city of Sulaymaniyah, tomorrow, Sunday, to meet with the political parties and discuss several files and bring the views closer between the components of the Kurdish House.

An informed source told Shafaq News Agency that the Kurdistan Democratic Party decided in its last meeting of the party’s leadership council to normalize its relations with the political parties and parties in the Kurdistan Region.

The source added that the President of the Region, Deputy Chairman of the Kurdistan Democratic Party, Nechirvan Barzani, will visit the political parties in Sulaymaniyah, and hold many meetings with the aim of normalizing the situation and focusing on the common participants of the Kurdish House, pointing out that Nechirvan will meet during the visit with “Pavel Talabani and Omar Sayed Ali.” Salah al-Din Baha al-Din and Ali Babir.