Baghdad – Mawazine, Januz , Minister of Construction, Housing and Public Municipalities, Bengin Rikani, discussed with the Director of the Transport Sector at the World Bank for the Middle East and North Africa, Ibrahim Dajani, today, Thursday, the development of road networks in Baghdad. The Ministry of Construction said in a statement, a copy of which Mawazine News received: “The Minister of Construction, Housing and Public Municipalities, Bengin Rikani, met with the Director of the Transport Sector at the World Bank for the Middle East and North Africa, Ibrahim Dajani.”
She added, “During the meeting, emphasis was placed on the continuation of joint cooperation between the Ministry and the World Bank,” noting that “road and bridge projects were discussed, especially future plans to develop road networks in Baghdad and rehabilitate the main bridges therein, in addition to reviewing highway projects.” completed and ongoing, which were funded by the World Bank.” Ended 29 / h
Earth News / The Prime Minister’s Office confirmed today, Thursday, that the rise in the dollar exchange rate is temporary as a result of changing the mechanism by which the foreign currency sale window operates in the Central Bank.
“The government confirms its commitment to maintaining the stability of the local market, by supporting the stability of the dollar exchange rate against the Iraqi dinar, and it supports the central bank’s steps in this regard,” the office said in a statement received by Earth News.
He added, “The government makes it clear that the rise in the exchange rate is temporary as a result of changing the mechanism by which the window for selling foreign currency in the Central Bank operates, and it reassures all citizens that the financial situation of Iraq is in its best condition.”
And the statement continued, “The government stresses to all dealers, including investors and merchants, the need to cooperate with banks and the central bank by working in accordance with the commercial contexts in force globally, and importing according to documentary credits, as it provides a guarantee for the importer, preserves his rights, secures imported goods, and enables him to benefit from the facilities.” Banking to cover the credit value.
{Economic: Al Furat News} The Central Bank of Iraq decided to reduce the exchange rate of the dollar against the dinar.
And according to a decision of the bank’s board of directors, which {Euphrates News} obtained a copy of, “and for the purpose of encouraging the public to finance its imports through documentary credits instead of transfers, the board of directors of the Central Bank met today, Thursday, and decided in its session to reduce the selling price of the dollar to the beneficiary {the bank’s customer} who is financing Imports by documentary credits to be 1465 dinars instead of 1470 dinars.
The decision pointed out that the bank “will sell to the bank (for the purposes of documentary credits) for 1455 dinars to the dollar instead of 1460 dinars.”
It is noteworthy that the decision of the Central Bank of Iraq comes with a rise in the exchange rates of the dollar in the local markets, as it exceeded 1,500 dinars, which reflected negatively on the prices of goods and services.
Twilight News / The Central Bank of Iraq announced on Thursday the reasons for the rise in the dollar exchange rate in local markets, including the “electronic platform”, describing this rise as simple.
The bank said, in a press statement, and responded to Shafaq News Agency, that the slight rise in the dollar exchange rate in local markets during the previous days is due to some factors, including the construction of an electronic platform through which banks raise the demands of their customers.
The bank’s statement quoted an authorized source as saying that the Central Bank has been building this platform for months in coordination with international authorities for the purpose of ruling and regulating the operations of the window for the sale and purchase of foreign currency and ensuring the effectiveness of its control. A specialized international company has been assigned to build it and connect banks with the Central Bank through it, indicating that the platform requires
He explained that due to the recent use of this platform, many errors are being discovered, which requires the bank to reload them, pointing out that these procedures take additional time to accept the application and pass it through the global financial system.
In this regard, the reserves of the Central Bank and the solvency of the state in general are in excellent condition and at their best levels in decades, and the current supply of foreign currency is not linked to resources but to administrative and audit procedures, which will be exceeded in the coming days in addition, according to the bank’s statement.
He added that the Central Bank has taken a number of measures to expand the supply of foreign exchange to meet the public’s demand for the cash dollar. The window management has also been directed to meet the requests of banks for the coming days faster through the implementation of double orders and a preferential rate has been given for the implementation of documentary credits, for the purpose of covering local demand.
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