Iraqi News Highlights and Points to Ponder Thursday AM 11-16-23

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Iraqi News Highlights and Points to Ponder Thursday AM 11-16-23

Parliament Finance Indicates The Reason For The Decline In The Exchange Rate And Talks About “A Crackdown On Smugglers”

Sweeteners |Baghdad Today – Baghdad   In recent days, local markets have witnessed a decline in the exchange rate of the dollar against the Iraqi dinar, reaching 158 thousand for every 100 dollars. The Finance Committee in the House of Representatives indicated the reasons for the decline, while revealing “control over smugglers.”

Committee member Moin Al-Kazemi said today, Thursday (November 16, 2023), that “there is security and intelligence progress in the file of identifying dollar smugglers, and during the past days a number of them have been overthrown.”

Al-Kadhimi indicated in an interview with “Baghdad Today” that “this greatly affected the decline in the dollar exchange rate in the parallel market.”

A member of the Parliamentary Finance Committee stated, “There is great economic importance to thwarting foreign currency smuggling operations,” noting that “there is government interest in this file, and the security and intelligence services have information about these parties and personalities, and work is continuing to pursue and overthrow them.”

 Yesterday, Wednesday (November 15, 2023), the National Security Service announced the arrest of the most dangerous people involved in the currency smuggling file through its management of more than one bank and financial institution.

The agency stated in a statement received by “Baghdad Today” that “in implementation of the Prime Minister’s directives to follow up on the file of currency smuggling and speculation, and in continuation of the series of specific operations and painful strikes carried out by the National Security Service against organized crime gangs that seek to sabotage the national economy, and directly harm the lives and security of citizens, After an intelligence and field effort, we announce the arrest of one of the most dangerous people involved in the currency smuggling file through his management of more than one bank and financial institution.”

He added, “The operation took place according to fundamental judicial procedures after the accused attempted to flee outside the country,” noting that “the accused, through owning several banks that had dealings with many banking companies, controlled the circulation of tens of millions of dollars daily outside the legal context.”  LINK

Exchange Rates Are Close To 159 Thousand Dinars For Every 100 Dollars In Baghdad Markets And Money Exchangers

Economy |  Baghdad today – Baghdad   The exchange rates of the US dollar against the Iraqi dinar stabilized today, Thursday (November 16, 2023), in the markets and exchange offices of the capital, Baghdad, after a noticeable decline over the past two days .

The selling price in transactions this morning was 158,750 thousand dinars for every 100 US dollars, while the buying price was 156,750 thousand Iraqi dinars for every 100 US dollars .

The official price issued by the Central Bank of Iraq is 132,000 thousand dinars per 100 US dollars. LINK

A New Rise In Dollar Prices In Iraqi Markets.. This List

Economy  2023-11-16 | Alsumaria News – Economy   Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Thursday, November 16, 2023.

The selling price of the dollar in the local markets in the capital, Baghdad, was 158,750 per 100 dollars, while purchasing prices reached 156,750 per 100 dollars.

For more than 8 months, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets.

The Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying the dollar from the Ministry of Finance  reached 1,300 dinars per dollar and selling it at (1,310) dinars per dollar to banks through the electronic platform, and it is sold for (1,320) dinars per dollar. Dollars from banks and non-banking financial institutions to the final beneficiary.    مقالات ذات صلة    LINK

Warka Bank Increased To 271.6 Billion Dinars

Warka Bank   Drains   Economy News – Baghdad  The Company Registration Department, in the Ministry of Commerce, decided to approve increasing the capital of the Warka Bank for Investment and Finance to 271.6 billion dinars.

According to an official document obtained by Al-Iqtisad News, the legal procedures to increase the capital of Warka Bank from 105 billion dinars to 271.6 billion dinars have been completed.

She added that new shares were issued worth 166.5 billion dinars, the value of each share being one dinar.   Views 31 11/16/2023 – https://economy-news.net/content.php?id=37587

Its Harmful Effects Are… A Parliamentary Warning Against Printing A New Monetary Mass

Economy | 11/15/2023  Mawazine News – News  Independent MP Nazem Al-Shibli warned today, Wednesday, of the dangers of printing a new monetary mass, stressing that the rise in the price of the dollar has harmed the livelihood of a segment of poor citizens.

Al-Shibli said in a statement received by Mawazine News, “This step may lead to the erosion of the value of the Iraqi dinar, especially in light of the governor’s failure to manage monetary policy.”

He added, “Central Bank Governor Ali Al-Alaq failed to manage the crisis and is unable to achieve stability in the value of the Iraqi dinar,” pointing out that “printing a new monetary mass will lead to adverse damage.”

Al-Shibli pointed out that “the Central Bank floundered in the rise of the dollar, which directly affected the simple Iraqi citizen in his strength and daily livelihood.”

https://www.mawazin.net/Details.aspx?jimare=237895

Provoking Points To Ponder From Daily Reflections For Highly effective People By Stephen Covey:

Effective People are not problem-minded — they’re opportunity-minded — They feed opportunities and starve problems — p154

Paradigms are powerful because they create the lens through which we see the world — The power of a paradigm shift is the essential power of quantum change – whether that shift is an instantaneous or a slow and deliberate process — p32

We must look at the lens through which we see the world – as well as at the world we see – and understand that the lens itself shapes how we interpret the world — p17

We simply assume that the way we see things is the way they really are or the way they should be – And our attitudes and behaviors grow out of those assumptions — p24

Each of us has many – many maps in our head – which can be divided into two main categories: maps of the way things are, or realities — and maps of the way things should be – or values — We interpret everything we experience through these mental  maps — p24

Our character – basically – is a composite of our habits — Because they are consistent – often unconscious patterns – they constantly daily – express our character and produce our effectiveness …….. or ineffectiveness — p46

You are NOT your habits — You CAN replace old patterns of self defeating behavior with new patterns – new habits of effectiveness – happiness and trust-based relationships — p61

Highly Proactive People recognize their “respons-ability — the ability to choose their response — They do not blame circumstances – conditions – or conditioning for their behavior — their behavior is a product of their own conscious choice – based on values – rather than a product of their conditions  – based on feeling — p71

Reactive People focus on circumstances over which they have  no  control — the negative energy generated by that  focus – combined with neglect in areas they could do  something about – causes their Circle of Influence to shrink — p83

Proactive People focus their efforts on the things they can do something about — the nature of their energy is positive – enlarging – and magnifying causing their Circle of Influence to increase — p83

Whatever is at the center of our life will be the source of our security – guidance – wisdom and power — p109