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Wed. AM TNT News Articles 1-18-23

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TNT

Tishwash:
Leaks reveal the size of the federal budget 2023 .. “unprecedented”

Today, Wednesday, Secretary of the Central Committee of the Communist Party, Raed Fahmy, revealed the size of the federal budget for 2023, according to what he called “leaks.”

Fahmy said in a tweet to him via Twitter, followed by (Baghdad Today), that “some leaks about the 2023 budget indicate that it will be of an unprecedented size, and in this regard we warn of the need to take into account the absorptive and executive capacity of the state and the national economy for meaningful spending of allocations.”

He added, “If the allocations exceed this capacity, this money will be a target for the corrupt, wasting or freezing.”   link

Economist: Electronic payment reduces corruption and controls the dollar in Iraq

The economist, Bassem Jamil Antoine, confirmed today, Wednesday, that electronic payment will reduce corruption and control the exchange rate of the dollar, while citizens considered that the process was unsuccessful in Iraq due to the poor living conditions of many of them.

Antoine said in an interview with Shafaq News agency, “Everything new that enters the citizen’s daily life encounters a kind of objection and resistance until they get used to it,” noting that “this situation requires operations before starting it, such as educating and educating the citizen about the importance of electronic payment, and awareness and media, especially Some citizens’ culture in this matter is considered simple.”

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He added, “Although the process of starting electronic payment cards will be in the month of June, until the import of (POS) devices and (ATM) devices, there is also an option for cash payment that the citizen can use.”

And Antoine stressed that “electronic payment has one of the good advantages in its use, which is reducing errors in cash accounts, and it also protects people from the transmission of diseases, and reduces corruption, as it will impose control on the dollar when capitals are released and laundered, meaning that there will be control over them, and this matter is also It is used in almost all countries of the world.

For his part, the citizen, Hassan Hadi, said in an interview with Shafaq News agency, “Despite the electronic payment process, it is considered one of the banking development processes, which is what is in effect in the countries of the world, but it cannot be applied in a country like Iraq,” noting that “most of the citizens in Iraq are from The poor class, whose strength is on a daily basis, and therefore they do not have financial surpluses in order to fill the card with money to shop with it from shopping stores, restaurants, and other stores.

He added, “The banks in Iraq, whether governmental or private, are shrouded in many problems and administrative red tape that are difficult to deal with and issue such electronic payment cards.”

Yesterday, Tuesday (January 17, 2023), the Prime Minister issued several decisions, including activating the electronic payment process in all aspects of our lives, directing the Central Bank of Iraq to facilitate procedures for granting licenses for collecting bank cards using points of sale (POS), reducing commissions on banks and obligating All centers and shops of all kinds by opening bank accounts and providing point-of-sale devices for electronic payment.   link

CandyKisses:
New announcement by the Central Bank on the dollar exchange rate

{Economic: Euphrates News} The Central Bank of Iraq issued a new clarification regarding the rise in the dollar exchange rate.

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The bank’s adviser Ihsan Al-Yasiri said in a press statement today, Wednesday, that: “The rise in the exchange rate of the dollar against the Iraqi dinar is due to the development of an electronic platform to ensure that the dollar reaches directly to people who benefit from it without going through additional episodes.”

Al-Yasiri pointed out that “the Central Bank asked traders to go to the official centers, which are the official banks, in addition to selling the dollar directly to travelers, and these measures affected the dollar exchange rate,” stressing that “this situation is temporary and the balance will return to the market.”

For about a month from now, the dollar exchange rate against the Iraqi dinar has been witnessing continuous fluctuation between a continuous decline and rise in the markets of Iraq.

The Central Bank of Iraq deals with 14 banks in the currency auction, and these are the banks that comply with the bank’s conditions. The Monetary Services Court dismissed the lawsuits of four banks against the bank governor, after the bank stopped selling the dollar to the four banks on November 6, 2022.

The Central Bank of Iraq currently monitors 11 banks, and is likely to include a number of these banks in the four banks it does not deal with.

Dubai World Ports Company: We want to establish major industrial zones in Iraq

{Economy: Al-Furat News) During his meeting with President Abdullatif Rashid on the sidelines of the Davos Economic Forum in Switzerland, Sultan Ahmed bin Salman, Chairman and CEO of Dubai World Ports Company expressed the company’s desire to establish major industrial cities in Iraq.

A statement by the Presidency of the Republic said that Rashid “received at his residence in Davos bin Salman and Suhail Al-Banna, managing director of the company for the Middle East and North Africa region, and stressed during the meeting the extent of the decline in infrastructure as a result of wars and conflicts experienced by Iraq during the past decades, and the determination.

Rashid added that “there are many areas of work and huge opportunities for investors wishing to work in Iraq, stressing in this context that Iraq is a fertile environment for entrepreneurship; because of its great potential and potential compared to other countries.”

The President of the Republic stressed Iraq’s aspiration to enhance cooperation with various companies to develop investment and commercial work, build strategic partnerships and activate the economic role, indicating “the importance of the Davos Forum in providing such investment opportunities.”

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In turn, the Chairman of the Board of Directors of Dubai Ports Company pointed to the richness of Iraq with its natural resources, and the importance of its strategic location as a vital crossing for shipping goods through Umm Qasr port and then Turkey and other countries, explaining that this work provides great opportunities for Iraq, which is a huge market.

He expressed his desire to establish major industrial zones in Iraq, where investment opportunities are available, expressing his happiness with the development taking place in Iraq, especially in the Kurdistan region, which is a role model.

Source: Dinar Recaps

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