Fri. AM-PM TNT Iraq News Articles 2-3-23



The start of the second meeting between the Iraqi delegation and the US federal on the dollar

Baghdad – Mawazine News

The second meeting between the Iraqi delegation and the US Federal Bank on the dollar began a while ago.

“The meeting held in Turkey will complement yesterday’s meeting,” a source familiar with the matter told Mawazine News.

A member of the Parliamentary Finance Committee Mustafa Jabbar Sanad revealed, at dawn on Friday, the details of the meeting between the Iraqi delegation and the US Federal Bank held in Turkey.
“A meeting was held in Turkey between the Iraqi delegation and a delegation representing the US Federal Reserve to discuss the situation of the dollar,” Sanad said.

He added, “The meeting is over and a number of things have been agreed upon and the meeting will be renewed tomorrow in Turkey as well and then the expanded meeting in Washington on 8.2-2023.” 

Economist: All oil revenues reach the Federal Bank before they are sent to Iraq


Economic expert Nasser Al-Kinani confirmed today, Friday, that all oil revenues come to Iraq through the US Federal Bank, pointing out that the bank has authority over the dollar and is aware of all financial transfers of this currency. 

Al-Kinani told Al-Maalouma, “The US Federal Bank has complete control over Iraqi oil revenues, as Iraqi oil is not sold except through this bank so that the revenues are placed inside it.” 

He added, “All money transfers are subject to the control and authority of the Federal Bank, and any defect that occurs in it, the transfer stops and is rejected, which confirms the control of this bank over the dollar for Iraq.” 

And he indicated that “Iraq cannot receive oil imports directly from oil-importing countries, especially since it is sold in dollars, and this currency is not owned by Iraq, but rather belongs to the United States and the Federal Bank, which imposes its authority on this currency and follows up on its transfers and circulation in other countries.   link

A demonstration in Baghdad to demand a reduction in the price of the dollar against the dinar

A number of citizens demonstrated today, Friday, in Tahrir Square, in central Baghdad, to demand a reduction in the price of the US dollar against the Iraqi dinar.

The camera of Shafaq News agency documented the presence of a number of citizens in the square, chanting slogans against the high price of the dollar and its reaching unprecedented levels.


In an interview with Shafaq News agency, protesting citizens expressed their dissatisfaction with this rise and its impact on entire segments of society, in light of the lack of realities, with a continuous rise in the price of the US currency against the Iraqi dinar.

Calls were launched a few days ago to mobilize this demonstration, while the impact of the dollar’s rise was clear in all commercial transactions and the state of economic paralysis hit the Iraqi market.  link

Deputy: Forming a specialized committee to control exchange rates and restore them to their previous state

Deputy Chairman of the Parliamentary Services Committee, Baqir Al-Saadi, confirmed the formation of a specialized committee to control the exchange rates of the dollar and restore it to its previous state. 

Al-Saadi said, “We are awaiting a drop in the dollar’s exchange rates in the coming days,” noting that “the reasons that aggravated the matter more were that some merchants stopped exchanging dollars.”

Al-Saadi indicated, in an interview with the “Euphrates News” agency, followed by “Al-Iqtisad News”, to “the formation of a specialized committee that includes the Ministry of Finance and the Central Bank to control exchange rates and restore them to their previous state.”

Al-Saadi expected, “the exchange rate will return during the current month, at the lowest estimates, and full support will be provided to citizens due to the market’s vulnerability to these prices.”  link

Source: Dinar Recaps

The most prominent of which is the “tax holiday”.. 5 positive outcomes of the Sudanese meeting with the heads of the chambers of commerce

Today, Friday, the head of the chambers of commerce in Diyala, Muhammad Mulla Jawad al-Tamimi, revealed the most important results of the expanded meeting with Prime Minister Muhammad Shia al-Sudani in Baghdad yesterday.


Al-Tamimi told (Baghdad Today) that “the expanded meeting of the heads of the chambers of commerce in the provinces with the Prime Minister, Muhammad Shia’ al-Sudani, and economic and financial elites in Baghdad, yesterday evening, was positive about presenting important files to contain the dollar crisis and give the markets guarantees that contribute to stability during the coming period.” the next stage.”

He added, “Al-Sudani followed the implementation of the decisions issued by the previous meeting, while the Central Bank demanded the urgency of issuing instructions for credits and transfers according to the proposed ceilings and determinants as quickly as they represent the cornerstone of Iraq’s foreign trade.”

And he continued: “Al-Sudani also followed up on the implementation of the decisions issued to the tax and customs departments, which will greatly contribute to facilitating the adoption of the new mechanism for foreign trade proposed by the Central Bank, and this is what matters to the merchant in carrying out his daily work.”

He pointed out that “the president of the federation and the importing merchants presented at the meeting a set of proposals and solutions, the most important of which is a request for a tax and customs holiday for a period of five years.

And he continued, “We also called for facilities to open bank accounts for small merchants and facilitate their work procedures in light of the new transformation, as they are the majority segment, with an emphasis on adopting the banking system in implementing the internal transfer through the Iraqi payment system by adopting the RTGs & CT system to transfer the internal transfer between government and private banks.”

He pointed out that “the meeting touched on discussing the decisions issued regarding reliance on the local currency in all government and private departments and the need to implement electronic payment services in them to achieve many goals that contribute directly and indirectly to the new economic system,” stressing that “the meeting resulted in 5 positives in general.”

Through consensus and the flexibility of Al-Sudani in accelerating the pace of procedures to create flexibility in financial dealings.

Yesterday, Thursday, Prime Minister Muhammad Shia al-Sudani chaired the second meeting of the Federation of Chambers of Commerce and the Association of Iraqi Banks, as well as other bodies; Taxes, customs, border crossings and the central bank, while the meeting witnessed a discussion of the economic situation at the national level in light of the exchange rate fluctuations, and their effects on the Iraqi market.  link

Source: Dinar Recaps


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