Bondlady’s Corner – Iraq Economic News and Points to Ponder Thursday Evening 2-22-24


Iraq Economic News and Points to Ponder Thursday Evening 2-22-24

Tlm724 Administrator Bondlady’s Corner

Al-Alaq Denies To Al-Iqtisad News The Existence Of A Liquidity Crisis In The Iraqi Dinar

Money  and business  Economy News – Baghdad  The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied reports that there was a problem in providing the dinar.

Al-Alaq said in his speech to Al-Iqtisad News, on the sidelines of the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association, today, Thursday, that “everything that is being raised about a problem in providing the Iraqi dinar, or a liquidity crisis, is not true.”

He added that the Central Bank did not stop for a single moment in responding to the Ministry of Finance’s liquidity requests.  Views 131 02/22/2024

The Dollar Rises Against The Iraqi Dinar

Economy | 01:45 – 02/22/2024   Mawazine News – Baghdad   The exchange rates of the dollar against the dinar recorded a slight increase today, Thursday, in the local markets in the capital, Baghdad, and the central Kifah and Harithiya stock exchanges recorded a price of 152,300 Iraqi dinars against 100 US dollars.

The dollar exchange rates in banking shops and local markets, where the selling price reached 153,250 dinars, while the purchase price reached 151,250 dinars for every 100 dollars.

The Governor Of The Iraqi Central Bank Identifies The Advantages Of “Electronic Collection”: A Very Important Episode

Economy News – Baghdad  Today, Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, described the issue of electronic collection as an “important episode,” and while he pointed to the advantages of collection, he stressed the Central Bank’s commitment to supporting this initiative.

Al-Alaq said in a speech during a workshop organized by the Iraqi Private Banks Association, and attended by an “Al-Iqtisad News” correspondent, that “the launch of the electronic collection project comes as a translation of the commitment of the Central Bank and the banks and financial institutions subject to the supervision of the Central Bank to implement its vision and strategic objectives to develop the financial banking sector in Iraq.”

He added, “The project will contribute significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure in payment systems and electronic payment platforms provided by the Central Bank and providing payment services.”

Al-Alaq stated, “This project generally targets all governmental ministries, as well as non-governmental ministries, unions, and associations from which the amounts are collected,” pointing out that “this project will enable the automation of all collection operations, the adoption of electronic payment tools, and the reduction of cash transactions, which in turn will help reduce the burden of burden on citizens by accelerating the completion of transactions.”

The Governor of the Central Bank explained, “Customers can choose the time and place they want to pay bills, and this will save time and effort and provide services to pay citizens through multiple payment channels with a high degree of trust and security.”

He pointed out that “this matter increases collection rates, reduces costs, reduces the risks of cash dealing, raises the efficiency of the service provided to the citizen, and obtains integrated data and reports,” considering that “electronic collection is an important link among the links seeking to reduce the phenomenon of the cash economy, which the Central Bank seeks to achieve.”

Working on it at several levels for optimal use of transportation and expanding financial inclusion.”

Al-Alaq stressed, “The Central Bank affirmed its full commitment, in partnership with its colleagues, to support this initiative by supporting the growth and use of the local economy while preserving its stability and status through cooperation and purposeful challenge.”

266 views    02/22/2024 – 11:04 AM

Al-Sudani: The Government Has Placed Economic And Banking Reform Among Its Most Important Priorities

Economy | 06:04 – 02/22/2024  Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Thursday, that the government has placed the issue of economic and banking reform among its most important priorities.

The Prime Minister’s Media Office stated in a statement received by Mawazine News, “Today, Sudani received Andrew Toure, the regional president of Visa for Central and Eastern Europe, the Middle East and Africa, and his accompanying delegation.”

Al-Sudani said – according to the statement – that “the government has placed the issue of economic and banking reform among its most important priorities, and it seeks and welcomes cooperation in this field, pointing to the approval of the electronic payment system in the Council of Ministers.”

He praised, “the company’s cooperation in expanding electronic payment technology and digital transformation, whether through training workers in Iraq or by contributing to education about the electronic payment process.”

For his part, Andrew expressed “the desire to continue cooperation with the Central Bank of Iraq and all Iraqi banking sector institutions,” noting “Visa’s interest in supporting the Iraqi government’s plans towards electronic payment and economic and banking reform, by introducing advanced solutions and technologies to the market, as well as its readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from electronic payment points of sale in Iraq.”

Prime Minister: The Importance Of The Partnership Between Iraq And The United States

Political | 08:08 – 02/22/2024  Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of moving to a bilateral relationship with Washington governed by the Strategic Framework Agreement, stressing the importance of the partnership between Iraq and the United States.

The office of Prime Minister Muhammad Shia Al-Sudani said, received by Mawazine News, that “he received a member of the Foreign Relations Committee in the US Congress, Senator Christopher Coons.

Al- Sudani explained” the importance of the partnership between Iraq and the United States, stressing the transition to a bilateral relationship governed by the strategic framework agreement between the two countries, after… Completing the tasks of the international coalition, according to a specific timetable.

He stressed “the necessity of stopping the war in Gaza and ending the genocidal war committed by the occupation forces, especially with the advent of the holy month of Ramadan.”

For his part, Senator Coons confirmed that his tour in the region and his meeting with the Prime Minister came at the request of President Joe Biden, noting that The depth of the partnership between the United States of America and Iraq, and the necessity of expanding it to include economic, cultural, and health aspects, in addition to the security aspects that take place in accordance with the meetings of the Supreme Military Committee. He also stressed the necessity of achieving stability and peace in the Middle East and a ceasefire in Gaza and the Palestinian territories.

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Provoking Points To Ponder on Inspiration:

Every true man, sir, who is a little above the level of the beasts and plants, lives so as to give a meaning and a value to his own life.  – Luigi Pirandello

Never let go of that fiery sadness called desire.  – Patti Smith

For every man there exists a bait which he cannot resist swallowing.   – Friedrich Nietzsche 

The moment somebody says to me, “This is very risky,” is the moment it becomes attractive to me.  Kate Capshaw 

Discontent is the first step in progress. No one knows what is in him till he tries, and many would never try if they were not forced to.   – Basil W. Maturin

All progress is based upon a universal, innate desire on the part of every living organism to live beyond its income.  – Samuel Butler

It is the spur of ignorance, the consciousness of not understanding, and the curiosity about that which lies beyond that are essential to our progress.   – John Pierce

One starts an action simply because one must do something.  – T. S. Eliot

What you are must always displease you, if you would attain to that which you are not. – Saint Augustine

If you’re good to your staff when things are going well, they’ll rally when times go bad.– Mary Kay Ash

Famous Quotes and Authors, Famous Quotations for all Occasions