Tues. AM/PM TNT News Articles 12-21-21

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TNT

Tishwash:
The Central Bank offers the second issue of government bonds/Binaa Bonds Issue Two

Due to the expiry of the first issue of (Bena) bonds issued by the Federal Ministry of Finance and which were sold to the public, and the presence of urgent requests to launch another issue of the same bonds. The Ministry of Finance decided to launch the second issue with a value of (2) trillion dinars (two trillion dinars only) and by the same mechanism mentioned in our book No. 6/6/2916 on 10/24/2021

Therefore, we recommend commercial banks (governmental and private) to take the necessary measures and use tools that contribute to the promotion of these bonds, and help in receiving the public and facilitating their purchase requests for these bonds.

We would also like to point out that Paragraph No. (6) mentioned in our circulars above will be valid for only two days (Sunday and Wednesday) of each week until the end of the issuance period, which will be on 01/19/2022, with your banks continuing to receive public requests daily and also until the end of the issuance period .

We hope to take the necessary measures to make the process of promoting and selling these bonds successful, in a way that makes it very easy for those who want to buy them  link

The Central Bank offers the second issue of government bonds 

The Executive Director of the Iraq Stock Exchange, Taha Abdel Salam, announced, on Tuesday, that the Central Bank of Iraq issued the second issuance of government bonds, “construction bonds” worth 2 trillion dinars.  

The Executive Director of the market said in a news article published on the social networking page “Facebook” and followed by “Al-Iqtisad News”, that the Central Bank has launched the second issue of government bonds, “construction bonds” with a value of 2 trillion dinars, after the success of marketing the first issue by the bank, which will be listed. and traded in the Iraq Stock Exchange. 

He added that the new issue is offered for public subscription as of December 20, 2021 through the Iraqi banking system, with the same mechanism of the Central Bank of Iraq issued in the book No. 6/6/2916 on 10/24/2021 and the subscription ends on January 19, 2022  Link

Oil prices rise, Brent exceeds $ 72 a barrel

 Oil prices recorded, on Tuesday, a noticeable rise, despite the continued concern of investors about the rapid spread of the Corona virus “Omicron” globally, which prompted countries to consider more restrictions that are likely to affect the demand for fuel.

Brent crude futures rose 59 cents, or 0.8%, to $72.11 a barrel. 

US West Texas Intermediate crude futures also rose 73 cents, or 1.1%, to $69.34 a barrel.
Many countries are on high alert just days before Christmas and New Year celebrations, with Omicron infections multiplying rapidly across Europe, the United States and Asia, including in Japan.  link

Samson:
A Kurdish delegation heads to Baghdad for talks to form a government

The Patriotic Union of Kurdistan revealed, on Tuesday, that a Kurdish delegation will head to the federal capital, Baghdad, next week, to meet with the political blocs and discuss forming the next government.

Union member Jamal Shukr told Shafaq News Agency, “There is a move to form a high-level delegation from the Patriotic Union of Kurdistan and the Kurdistan Democratic Party to go to Baghdad with one vision regarding the Kurdish entitlement in the next stage,” noting that “it is hoped that the delegation will head to Baghdad next week.” To meet with all the political blocs and discuss forming the next government.

Yesterday, Monday, the Deputy Speaker of the Parliament of the Kurdistan Region, Hemin Hawrami, announced the formation of four Kurdish forces to discuss with the political blocs in Baghdad the formation of the new government. 

Hawrami said in a press conference held at the parliament building, which was attended by Shafak News Agency, that “the Kurdish forces agreed among themselves that there will be some kind of understanding on how to hold talks with Baghdad regarding the next government.”

He noted that “the Kurdish forces decided to form four committees, including a committee to prepare a joint paper for the government program and a committee for positions that belong to the Kurds.”  link

Source: Dinar Recaps


Tishwash:
Completion of the payment of compensation to the State of Kuwait

The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council pursuant to Resolution No. (687) for the year 1991, with a total of (52). 4) One billion US dollars for the State of Kuwait.

It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.

Central Bank of Iraq
Media Office 
December 21, 2021  link

The financial advisor to the Prime Minister excludes the collapse of the local currency..and citizens are replacing it with dollars

A financial advisor to Prime Minister Mustafa Al-Kazemi ruled out, on Tuesday, December 21, .”2021, a collapse of the local currency, “the Iraqi dinar

Mazhar Muhammad Salih said in a statement followed by the obelisk, “There is no collapse of the local currency, “.and the Iraqi dinar is strong, and it is covered by good foreign reserves He pointed out that “monetary policy deals in dollars, and resorting to the system of “domestic and foreign currencies” in trade” is due to two reasons for the existence of precautions in dealing with foreign currency and its .stability, as well as the stability of transactions in it as well

The Iraqis’ fears are increasing of a new decline of the dinar, affected by a series of collapses in the local currencies of neighboring countries and others close to them, most notably Turkey, Iran and Lebanon, which .prompted citizens to quickly get rid of the local currency in their possession and replace it with dollars

And limiting the buying and selling operations in hard currency by some owners of companies, car showrooms, and some interests whose dealings are linked to the dollar, for fear of a sudden collapse of the dinar against the .dollar

A member of the Finance Committee in the previous parliamentary session, Najeba Najib, said, “The demand of citizens to buy hard currencies, especially the dollar in recent times, and the inventory of buying and selling .operations by some of them confirms the loss of Iraqis’ confidence in the local currency

On December 19 last year, the Council of Ministers announced raising the price of selling the dollar to banks and exchange companies to 1460 dinars instead of 1200 dinars to one dollar, with the aim of compensating for the .decline in oil revenues caused by the deterioration in oil prices

The markets witnessed a significant increase in the local market, which sparked a wave of strong resentment among the popular circles and some political blocs, as well as the objections of some interested in economic .affairs link

Source: Dinar Recaps

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