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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Ministerial Council for the Economy is considering increasing the “interest” on deposits

    Rocky
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    economy - The Ministerial Council for the Economy is considering increasing the “interest” on deposits Empty The Ministerial Council for the Economy is considering increasing the “interest” on deposits

    Post by Rocky Tue 17 Oct 2023, 4:04 am

    [size=35][size=35]The Ministerial Council for the Economy is considering increasing the “interest” on deposits[/size]
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    Economy

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    2023-10-16 | 16:40
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    The Ministerial Council for the Economy announced today, Monday, that it is studying increasing the interest rate on deposits, while the Governor of the Central Bank, Ali Al-Alaq, stated that the exchange rate depends mainly on imports and not on local production.


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    The Council said in a statement, “Deputy Prime Minister and Minister of Foreign Affairs [url=https://www.alsumaria.tv/Entity/766413672/%D9%81%D8%A4%D8%A7%D8%AF %D8%AD%D8%B3%D9%8A%D9%86/ar/]Fouad Hussein[/url] chaired today, Monday, the thirty-first session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, Minister of Planning, Ministers of Finance, Labor, and Social Affairs, the Secretary General of the [url=https://www.alsumaria.tv/Entity/1122135457/%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1/ar/]Council of Ministers[/url], the Governor of the Central Bank, the Undersecretary of the [url=https://www.alsumaria.tv/Entity/1956186754/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D9%86%D9%81%D8%B7/ar/]Ministry of Oil[/url], and the Vice President of the National Authority.” Investment, the Chairman of the [url=https://www.alsumaria.tv/Entity/1266744633/%D9%87%D9%8A%D8%A6%D8%A9 %D8%A7%D9%84%D8%A3%D9%88%D8%B1%D8%A7%D9%82 %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9/ar/]Securities Commission[/url], and the Prime Minister’s advisors for economic and legal affairs.”



    The statement added, "The Council hosted the Chairman of the Finance Committee in the Iraqi House of Representatives and a number of committee members to discuss the dollar exchange rates in Iraqi markets," explaining that "the Governor of the Central Bank provided a detailed explanation of the tasks and objectives of the Central Bank and monetary policy in [You must be registered and logged in to see this link.]."
     
    The statement quoted Al-Alaq as saying, “The exchange rate depends mainly on imports and not on local production,” noting that “the exchange rate in [You must be registered and logged in to see this link.] has peculiarities because it is linked to the price of oil, as it is the largest source of providing hard currency.”
     
    He pointed out that “many factors affect the exchange rate, the most important of which is the leakage of the dollar to neighboring countries and internal dealing in local markets in a currency other than the national currency, as well as the lack of complete control over the ports and smuggling,” stressing, “opening a special hall for private banks to sell the dollar to travelers at [url=https://www.alsumaria.tv/Entity/120339287/%D9%85%D8%B7%D8%A7%D8%B1 %D8%A8%D8%BA%D8%AF%D8%A7%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]Baghdad International Airport[/url], and we raised the price.” The interest rate on amounts deposited in banks reaches 7.5 percent to encourage citizens to deposit their amounts in banks and withdraw cash from banks.”
     
    The statement continued, "After objective and serious discussions, the Deputy Prime Minister and Minister of Foreign Affairs indicated that the Council will study in detail this important issue and will follow up on the localization of salaries for all workers in the government sector and then the mixed sector until the private sector."
     
    He added, "We will study increasing the interest rate on deposits," adding, "We look forward to building future basic tools that will help the Central Bank and the [url=https://www.alsumaria.tv/Entity/3238106360/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9/ar/]Ministry of Finance[/url] assume their role in a way that suits the nature of their work."
     
    He pointed out that "the Council decided to proceed with the establishment of a project to demolish and build [url=https://www.alsumaria.tv/Entity/4061509463/%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%89 %D8%A7%D8%A8%D9%86 %D8%B3%D9%8A%D9%86%D8%A7 %D8%A7%D9%84%D8%AA%D8%AE%D8%B5%D8%B5%D9%8A/ar/]Ibn Sina Specialized Hospital[/url] with a capacity of 600 beds in Nineveh Governorate to serve the people of that dear governorate."
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