Wed. AM TNT Iraq News Articles 3-29-23



522 MasterCard cards filled with sums of money intended for smuggling were seized at Basra Airport

Baghdad – Nas  

The Border Ports Authority announced on Wednesday the arrest of three travelers in possession of 522 international MasterCard cards intended for smuggling at the port of Basra International Airport.    

The authority said in a statement received by NAS (March 29, 2023), that “the Basra International Airport Port Directorate, through the intensification of inspection and audit procedures for passengers and goods, was able to seize three passengers in possession of an international MasterCard card numbering 522 cards that were filled with amounts of money for the purpose of smuggling money from hard currency outside the country by withdrawing those amounts in the countries they intend to travel to.”  

She pointed out that “a ban was organized to seize assets and refer the accused and cards to the Basra International Airport police station to present the matter before the attention of the competent investigative judge to take appropriate legal measures.”  

Parliamentary anticipation to include the budget on the agenda of the sessions next week

A member of the State of Law Coalition, MP Muhammad Al-Sahyoud, confirmed, on Wednesday, the inclusion of the draft budget law for the current year, indicating that the form and content of the budget necessitates delay in its presentation and discussion within the parliamentary committees.


Al-Shihoud said in a statement to Al-Maalouma, “The Council of Ministers drafted the budget bill in a new manner, as it included a real budget for the current year and two budgets for two consecutive years, but it is not binding if the draft law is approved.” 

He added, “The Presidency of the Council believes that the draft law needs to study some political and technical observations that have not been studied by the Presidency for the purpose of referring them to the concerned committees,” stressing that “the next few days, the draft budget law for the current year will be included. The deputy for the State of Law coalition,

Muhammad Al-Shammari has expressed his surprise at the behavior of Parliament Speaker Muhammad al-Halbousi in delaying sending the budget and his insistence on passing political laws, calling for revealing the real reason behind hiding the budget.  link

The Central Bank records the highest cash reserve in its history

Baghdad – Nas  

The Central Bank of Iraq has recorded the largest financial reserve in the country’s history, according to the government’s financial adviser.      

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Saleh, said in a press statement followed by “NAS”, (March 29, 2023), that the Central Bank’s reserves are currently the largest in the history of Iraq after reaching $ 115 billion.  


Saleh considered that “the Iraqi economy is strong and faces crises easily and the situation is moving towards improvement,” noting that “Iraq is moving towards gradually improving the digital payments climate and compliance towards the world.”   

He stressed that “the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen,” explaining that “we have entered the stage of digital payments correctly in Iraq.”  

On January 19, the Central Bank of Iraq announced significant growth in its foreign currency reserves last year.  

Deputy Governor of the Central Bank of Iraq Ammar Hamad said on January 23 that “the reserves of the Central Bank amounted to more than 99 billion dollars.  

The Iraqi Council of Ministers had approved the adoption of the Central Bank of Iraq’s decision to raise the value of the dinar against the dollar to 1300 dinars instead of 1470 dinars, in a move aimed at strengthening the value of the local currency.  

The rise in oil prices during the past year, which in some months reached more than $ 100, contributed to the rise in Iraqi financial revenues, which was reflected positively in the increase in Iraq’s hard currency reserves.  

New talk from the Central Bank regarding the exchange rate and the possibility of printing a denomination of 20 thousand

On Wednesday, the Central Bank expected a decrease in the difference between the official and parallel exchange rates during the coming period, while it indicated that a decision would soon be issued regarding the possibility of printing a denomination of 20,000 dinars.

The assistant general manager of the investment department in the bank, Muhammad Mounir, said, “The packages and procedures of the Central Bank of Iraq contributed to limiting the continuous rise in the exchange rate of the dollar,” expecting “a decrease in the difference between the official and parallel exchange rates in the coming period through the first, second and third packages of the Central Bank.” In addition to the government’s continued support.

Mounir added, “The Central Bank is in continuous updating of all procedures, and every step that is launched is reviewed and the extent of its response and impact on the market is measured and what are its pros and cons, if any,” according to the official news agency.


Regarding printing new cash denominations, Mounir stated that “the Central Bank is amending and updating currency notes in response to market requests and developments and limiting counterfeiting,” noting that “the Department of Issuance and Treasurys is working to study the possibility of printing a cash denomination of 20,000 dinars, and in the coming days it will take the decision to print it or not printed    link

Source: Dinar Recaps


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