Earth News / The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, and his accompanying delegation concluded on Friday evening in Turkey his meetings with the Assistant Secretary of the Treasury, Brian Nelson and his accompanying delegation. During the meeting, they discussed prospects for cooperation and coordination between the two sides in order to contribute to achieving the stability of the exchange rate in Iraq and the related mechanisms The US Treasury Department confirmed, according to a statement by the bank and received by Earth News, “its support for achieving economic stability in Iraq, in reference to strengthening what was discussed between the Iraqi Prime Minister and the US President in the phone call that took place between them on Thursday in stressing the importance of Iraq’s stability for the region.” The US Treasury Department “excited its readiness for the flexibility necessary to achieve common goals, and it was agreed to continue coordination and cooperation during the meetings scheduled to be held in Washington, D.C., before the middle of this month.”
Baghdad – Mawazine News Fadi Al-Shammari, political adviser to Prime Minister Mohammed Shiaa Al-Sudani, confirmed the success of the Istanbul meeting between the Central Bank of Iraq and the US Treasury, while noting that the dollar exchange rate will stabilize within two weeks. Al-Shammari said in a tweet via Twitter, “The success of the Istanbul meeting between the Central Bank of Iraq and the US Treasury and the Central announces a new set of measures that will contribute significantly to the fall of the exchange rate accompanied by tight security measures in prosecuting smugglers and speculators.” He added, “Within two weeks, the exchange rate will stabilize at its normal rate and condolences to speculators and corrupt people.” Finished29/h
Twilight News / The Central Bank of Iraq issued, on Friday, the first package of facilities to meet the demand for the dollar, in both sides of cash and foreign transfers.
The bank said in a statement received by Shafaq News Agency, “The package includes increasing the ceiling for the sale of cash for travel purposes to $7,000 per month and to be sold exclusively to adults (18 years and older), and the sale of dollars will be for personal transfers through agents of money transfer companies (Westrien Yunen and MoneyGram) at the official rate (14
The package also included, “expanding the scope of transactions allowed to be financed in foreign currency to include, importing goods and goods that are legally allowed to be imported, buying and processing legally permitted services, including shipping services, financing the import part of contracts of contractors with state departments, and requests received by the Central Bank of Iraq from government and public institutions and self-financing entities
It also includes, “strengthening the balances of sub-accounts of banks and electronic payment companies open to JPMorgan Bank, which have a main membership with international card companies (Visa, Master), enhancing the balances of sub-accounts of Iraqi financial institutions opened with Citibank, which have a main membership with international money transfer companies (Western Yonen
It also includes, “Paying tuition fees abroad and the transfer shall be from the account of the student or one of his first or second-degree relatives to the account of the university where he is studying or to the same student’s account in the country of study after providing proof of his registration in the study certified by the Iraqi Cultural Attaché in the country of study, transfers related And the profits of shareholders in companies registered in Iraq as assets, and the amounts of financial proceeds (selling real estate or other assets or their revenues) in Iraq for an Iraqi residing abroad, provided that the transfer is from his account or the account of his agent inside Iraq to his account or the account of his company abroad exclusively.
It also includes, “due payments related to banking and credit facilities with which the customer has been associated with banks outside Iraq, and the expansion and facilitation of external transfer procedures for the categories below, as a first stage, followed by other categories later, namely
a) All types of companies registered with the Companies Registration Department in the Federal Ministry of Commerce,
b) Projects registered with the General Directorate of Industrial Development in the Federal Ministry of Industry and Minerals,
c) Simple companies incorporated principally from the Chambers of Commerce (under a notary-certified Memorandum of Association) not exceeding $200,000 (two hundred thousand dollars per month)
d) Branches of foreign companies registered with the Companies Registration Department in the Federal Ministry of Commerce,
e) Investment projects of all kinds licensed by investment authorities
f) Agricultural and animal projects licensed by the Department of Livestock, the Department of Agricultural Investments or the Veterinary Department of the Federal Ministry of Agriculture,
g) Scientific offices licensed by the Pharmacists Syndicate,
h) Fixed international factory distributors appointed from those factories for the purposes of working in Iraq, and agents whose appointment is supported by the distributor to work in the Iraqi market who are licensed to work fundamentally in Iraq
i) Agents of international companies registered in accordance with the Commercial Agency Law in force (j) All types of companies, factories, laboratories and licensed projects in the Kurdistan Region of Iraq after submitting the proof of incorporation or license from the relevant sectoral authorities translated into Arabic legally.
The statement continued, “The Central Bank is committed to covering all requests for the dollar in cash and external transfers for all legitimate purposes, thus, and thus every sale at a price higher than the official price becomes an act aimed at speculation or to cover illegal activity. The Central Bank of Iraq is committed to compensating the beneficiaries (importers) of the amount of the difference that exceeds
He pointed out that “another important package will soon be issued to stabilize the exchange rate and the general level of prices,” explaining that “the Central Bank of Iraq is studying various proposals and scenarios related to the official exchange rate.
Baghdad – Mawazine News Hisham Al-Rikabi, media adviser to Prime Minister Mohammed Shiaa Al-Sudani, confirmed on Friday that Iraq’s economy will not be determined by brokers of shops and street speculators.
Al-Rikabi said in a tweet, followed by / Mawazine News /, that “the government’s battle against speculators and hard currency traders enjoys internal and external political support and its solution is close, and the process of controlling commercial transactions according to global contexts continues.”
He added, “Iraq’s economy will not be determined by brokers of shops and street speculators, but only by the state.” Finished
ZF South Islamic Investment and Finance Bank, good news for traders and business owners on saving dollars. The bank said in a notice that “South Bank makes an offer to merchants and business owners by providing services of foreign remittances and documentary credits with a zero commission,” noting that “the presence of a network of correspondents around the world.” He added that “external transfers against an exchange rate of 1470 dinars to the US dollar, either documentary credits at an exchange rate of 1465 dinars to the US dollar and all the merchant has to do is visit his branches spread in Iraq or contact the phone service center by calling 6009.”
Twilight News / The Amman Chamber of Commerce and the Iraqi Business Council in Amman signed a memorandum of understanding to enhance the concept of partnership and facilitate and develop the process of cooperation between them in the economic fields in general, commercial and service in particular.
The memorandum signed by the President of the Chamber Khalil Al-Haj Tawfiq and the Chairman of the Council, Dr. Majid Al-Saadi, stipulated the cooperation of the two parties in the field of exchanging information and data issued by them on a regular basis, especially those related to the economic fields and facilitating intra-trade, and disseminating them to the business community and economists in
The Chamber said in a statement today, Friday, that under the memorandum of understanding, they will coordinate with each other to organize conferences, seminars and workshops on topics of common interest addressed to both sides and the business community in general, in order to spread awareness, in addition to exchanging invitations to events held by each side.
According to the memorandum, the available consultancy and expertise will be provided to investors, business owners, exporters and importers in both countries, as well as promote partnership and investment opportunities for their respective business community.
The memorandum stipulates the provision of conditions for the active participation of business owners, projects and various bodies in international and national exhibitions, and other arrangements held in Jordan and Iraq, according to the official Jordanian news agency “Petra”.
It also stipulated the formation of a joint committee to consider the affairs and issues of each of the Chamber’s members and the Council, including investors and business owners, and follow-up with the competent authorities in both countries.
It is worth mentioning that the Iraqi Business Council in Amman was established in 2006, and is a forum for businessmen to exchange views, ideas and business information, provide job opportunities through commercial and social missions and introduce existing investment opportunities in Jordan and Iraq.
Baghdad – Mawazine News The second meeting between the Iraqi delegation and the US Federal Bank on the dollar began a while ago. “The meeting held in Turkey will complement yesterday’s meeting,” a source familiar with the matter told Mawazine News. A member of the Parliamentary Finance Committee Mustafa Jabbar Sanad revealed, at dawn on Friday, the details of the meeting between the Iraqi delegation and the US Federal Bank held in Turkey. “A meeting was held in Turkey between the Iraqi delegation and a delegation representing the US Federal Reserve to discuss the situation of the dollar,” Sanad said in a post on his Telegram channel. He added, “The meeting is over and a number of things have been agreed upon and the meeting will be renewed tomorrow in Turkey as well and then the expanded meeting in Washington on 8.2-2023.” Finished29/h
Baghdad – Mawazine News The Arab Monetary Fund revealed that the UAE maintained the first place in the Arab economies competitiveness index, as a result of its acquisition of first place in the investment environment and attractiveness index. The Arab Monetary Fund said in the Arab Economies Competitiveness Report 2022 that Qatar came in second place in the general index of competitiveness of Arab economies, while Saudi Arabia, Kuwait, Oman and Bahrain ranked third, fourth, fifth and sixth, respectively. The ranking of Arab countries in the index is as follows: 1- UAE 2- Qatar 3- Saudi Arabia 4- Kuwait 5- Sultanate of Oman 6- Bahrain 7- Morocco 8- Jordan 9- Tunisia 10- Egypt 11- Algeria 12- Mauritania 13- Lebanon 14- Libya 15- Iraq 16- Yemen 17- Sudan. According to the report, the UAE and Saudi Arabia ranked first and second in the government finance sector index, due to the UAE obtaining an advanced position in the financial freedom index, and second place in the surplus/deficit index to GDP, while Saudi Arabia benefited from its advanced position in the index of public revenues to GDP. The UAE also ranked first at the level of Arab countries in the monetary and banking sector index, benefiting from obtaining an advanced position in the local liquidity index of GDP and in the indicators of growth rate of foreign assets and the ratio of credit granted to the private sector to GDP, while Kuwait came in second place as a result of the low index of non-performing loans from total loans and obtaining a advanced position in the index of credit ratio granted to the private sector to GDP. Finished29/h
(Political: Al-Furat News) US President Joe Biden confirmed Washington’s commitment to the strategic framework agreement with Iraq during a phone call with Prime Minister Mohammed Shiaa Al-Sudani, in which King Abdullah II of Jordan participated during his time in the White House.
Biden reaffirmed the U.S. commitment to Iraq and consultation with it on regional developments and praised the prime minister’s efforts to strengthen Iraq’s sovereignty and independence, a White House statement said in a statement.
Biden and Sudan discussed the prime minister’s economic agenda and his plans to ensure the Iraqi economy serves the Iraqi people, plans the United States says it is ready to fully support, the statement said.
Biden welcomed the upcoming visit by Secretary of State Fouad Hussein at the helm of a delegation next week to Washington to continue discussing these programs.
Biden and the Sudanese renewed their commitment to ensuring that ISIS does not threaten the Iraqi people or regional and international security again, the statement said.
The White House said Biden took advantage of Jordan’s King Abdullah II’s visit to Washington to invite him to join the call with Al-Sudani, and the Jordanian monarch renewed his country’s support for Iraq.