KFTA – Frank26 and Clare “Iraqi News” Friday 12-15-2023


Frank26:  “COME & SEE ME FOR AN ANSWER… ON JAN 1ST 2024″……………F26

 A banking expert answers: Is it possible to ban dealing in the dollar?

12/14/2023  Private|..

Banking expert, Mahmoud Dagher, on Wednesday, ruled out the possibility of the Central Bank of Iraq preventing dealing in dollars in the country.

Dagher told Jarida , “The Central Bank cannot prevent dealing in the dollar, as there is nothing in the banking law or in the instructions of the Central Bank that supports this approach, so they have no right, and dealing in the dollar will continue as dealing with the dinar.”

He stressed that “there are huge bank accounts for depositors in dollars, so it is unlikely to prevent dealing with it,” stressing the necessity of “arranging the status of the dinar instead.” LINK


 Al-Rafidain clarifies regarding issuing electronic cards and opening bank accounts

12/13/2023  Baghdad
Today, Wednesday, Rafidain Bank issued a clarification regarding issuing electronic cards and opening bank accounts.

The bank’s media office stated in a statement received by Al-Iqtisad News that “the process of issuing electronic cards and opening bank accounts is proceeding at an increasing pace from the bank’s branches spread throughout Baghdad and the provinces.”  LINK


Clare:  Member of Parliamentary Investment: An economic forum in Iraq attended by giant foreign companies


Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.

Al-Bazouni told Al-Furat News Agency, “Basra is considered a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all of this requires security stability to attract investors.”

He stated that “the Ministry of Industry’s adoption of the Investment Partnerships Forum in the presence of investors and giant foreign companies is considered a good step with the presence of the security, investment and environmental incubator.”

Raghad Dahham   LINK


Clare: The Netherlands is considering concluding a memorandum of understanding for the entry of its companies into Iraq


The Kingdom of the Netherlands is examining the possibility of concluding a joint memorandum of understanding with Iraq to facilitate the entry of its companies into the Iraqi market. A statement by the Federal Integrity Commission stated, “Judge Haider Hanoun discussed, on the sidelines of the tenth session of the Conference of States Parties to the United Nations Convention against Corruption, the possibility of instructing European companies to operate inside Iraq;

“There is a valid legal basis for work, as well as a serious confrontation of corruption, and a noticeable improvement in the security situation.” According to the statement, Hanoun referred to “the cooperation of international and regional organizations and their assistance to Iraq.” To confront corruption and limit its effects,”

Pointing to “the programs supported and funded by the European Union mission in Iraq, including the project to support justice initiatives to combat corruption and promote the settlement of commercial disputes, which aims to address the legislative and strategic gaps in combating corruption in Iraq, and improve the capacity and legal framework to conduct Commercial litigation, and engaging civil society, media, and citizens in constructive dialogue; In order to achieve reform in the fight against corruption.”

Hanoun called on the European Union mission to “continue communicating and cooperating with the Commission and supporting its investigators and training them technically through technological means through surveillance and photography, due to the importance of these tools in carrying out seizure operations and taking into account human rights.”   LINK

Clare:  Sudanese: Economic reform is the gateway to financial and banking reform


The Prime Minister, “Mohamed Shiaa Al-Sudani,” said today, Thursday, that: “Economic reform is the gateway to financial and banking reform,” while noting that “the government is committed to providing the dollar at the official rate, and stressed its keenness to end the suffering Kurdistan employees due to the delay in their salaries” 

Al-Sudani said in a televised interview followed by “Al-Mutalaa” that: “Conducting the population census is the first step in implementing Article 140 of the Constitution. It was postponed to May 2024 after it had been scheduled.”

It was held this year due to the provincial council elections,” pointing out, “It is time to remove the outstanding problems between Baghdad and Erbil, which lie in the border crossings and the budget.” He added, “We went to borrow from the Ministry Finance to pay the salaries of Kurdistan Region employees, and we are in favor of finding a solution with a legal amendment that considers Kurdistan Region employees as equal to the rest of Iraq’s employees,” stressing that “the government is keen to end the suffering of the Kurdistan employees’ salaries crisis.”

He stressed on the part of Another, “Economic reform is the gateway to financial and banking reform, and the issue of the exchange rate requires this reform, and we are committed to providing the dollar at the official rate to merchants, investors, contractors, students, and travelers.”

He pointed out that “95 percent of our trade now passes through Through the electronic platform, there are those who circumvent the law and buy the dollar at the parallel price. Because he does not want to apply legal procedures.” He stressed, “We will not accept that the official dollar price is equal to the parallel price; Because this encourages smuggling.”

Regarding foreign trade, Al-Sudani said: “There is no problem on the Iranian side in dealing commercially with Iraq in the dinar or toman currencies.”

He continued: “The problem of commercial transfers to Turkey was solved by opening accounts in the Turkish lira.” He stressed that “food prices maintained their stability, despite the attempts of manipulators to speculate on the price of the dollar.”  LINK