Thurs. AM TNT News Articles 11-4-21



Economist: Reducing The Dollar Exchange Rate Is Exclusively In The Hands Of The Governor Of The Central Bank

The economic expert, Nabil Jabbar Al-Ali, confirmed, on Thursday, that the decision to change and determine the foreign exchange rate is in the hands of the Governor of the Central Bank exclusively, noting that the bank is responsible for monetary policy.

Al-Ali said, in a statement to “The Information”, that “returning the dollar exchange rate to its previous state is the exclusive competence of the Governor of the Central Bank, and there is no government or regulatory authority involved in this.”

He added, that the Central Bank is able to take a decision to change the price without restrictions or conditions, as it is independent and is responsible for drawing monetary policies in Iraq.
Al-Ali pointed out that “the government and parliament cannot force the central bank to change the foreign currency exchange rate.”

The economic expert, Younis Al-Kaabi, had confirmed earlier, that the central bank can gradually reduce the price of the dollar   link

Al-Rafidain completes its preparations to participate in the banking services exhibition tomorrow

Al-Rafidain Bank announced the completion of its preparations to participate in the banking services exhibition, which is scheduled to start tomorrow, Friday, in the Al-Alawiya Club, in cooperation with the Central Bank of Iraq and the Association of Private Banks.  

And the bank’s media office said in a statement, “Nas” received a copy of it, (November 4, 2021), that “the latter completed his preparations and put the final touches to his pavilion to present the bank’s activities related to various services and products.”  

He stressed that “participation in this exhibition comes within the framework of the bank’s keenness to attend and interact in local exhibitions to introduce and promote local products and activate the marketing aspect.”    link

Digital transformation affects the labor market (11/4)

Digital services are rapidly spreading in Iraq, for various reasons, including the growing need for them, including the restrictions imposed by the pandemic conditions and the neutralization of life uses in digital transactions, such as selling, buying and shopping via the Internet, as well as the delivery services attached to them, although the infrastructure for these services is still Under its upbringing, it achieved acceptance with the public who interacted positively with it, despite some problems facing young people working in this field.

In this regard, the Market Research and Consumer Protection Center, in cooperation with the College of Business Economics at Al-Nahrain University, organized a workshop (remotely), entitled (Digital Transformation of Services in Iraq / A Future Vision), with the participation of the General Secretariat of the Council of Ministers.

The Director of the Market Research and Consumer Protection Center, Professor Dr. Yahya Al-Bayati, stressed the necessity of institutional integration between the various state departments and the private sector, in order to reach partnership contracts between the two sectors to address the problem of youth unemployment, indicating the importance of {activating the Consumer Protection Law No. 1 of 2010}.

The lectures included a definition of digital services and their importance and the development in the use of services through the development and digital and technological transformation of the management of state institutions and the importance of their use. The workshop resulted in a number of recommendations and proposals, which can contribute to achieving the optimal use of digital transformation in Iraq.

3 working papers were discussed in the symposium, the first was entitled (Digital Transformation in Iraq / Reality and Ambition) presented by the Dean of the College of Business Economics, Dr. Nagham Hussein, and the second was entitled (Digital transformation and its impact on the state and society) presented by Dr. Mazen Mahdi Al-Aqabi from the General Secretariat of the Council of Ministers. The third paper, entitled (Digital Transformation through the Lens of Governance), was presented by the Head of the Economics Department of Investment and Resources Management at the College, Assistant Professor Dr. Tariq Ali Jassim.

The workshop focused on the topic of global digital transformation in development, and shed light on government and private institutions to confront these challenges, the most prominent of which is a significant decline in economic sectors, including (air transport, tourism, insurance and finance) and technological wars on 5G, as well as the tremendous development in the digital sectors, And the shift towards electronic services around the world instead of jobs traditional.

The topic of the tremendous development in digital transformation and electronic services, creating an incentive for young people to train in the new disciplines required in the labor market, and building work teams by adopting their technical marketable ideas to the environments of industrial, agricultural and service construction.

In the workshop, many questions, discussions and inquiries were asked about digital transformation programs, the obstacles that young people face in their work, and how processed.  link

Source: Dinar Recaps


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