[size=30]KTFA Members "News and Views" Wednesday 10-20-2021[/size]
KTFA:19 Iraqi banks get a rating from international agencies
20th October, 2021
The Central Bank of Iraq announced, on Wednesday, that 19 private Iraqi banks obtained a classification from international agencies
The bank said in a statement received by "Al-Iqtisad News", that in the framework of the efforts made by the Central Bank of Iraq to develop the Iraqi banking sector and keep it in line with international standards, 19 licensed banks in Iraq obtained a classification from accredited international rating agencies: (Capital Intelligence - Fitch - Moody's Standard & Poors)
He added, "These banks will receive several banking facilities, which reflects the development of the performance of the banking sector in Iraq and the solvency of banks and is evidence of their compliance with local and international standards
It is worth mentioning that the Central Bank seeks to increase the ability of Iraqi banks to expand their network of relations with international banks and enhance the confidence of citizens and investors in them, especially after their success in obtaining such ratings LINK
*****************
Don961: The Central Bank organizes workshops for digital transformation in the business sector
Tuesday 19 October 2021
Morning: Nafeh Al-Naji
The Central Bank of Iraq, with the participation of the Association of Private Banks, is intensifying their efforts aimed at implementing training programs for large sectors of Iraqi youth on the new specializations required in the labor market in order to qualify them to lead the transition to the digital economy.
Economists agree that digital transformation will establish a new economy in Iraq that keeps pace with global developments, but this depends on the active participation of all institutions looking to develop and improve their services and facilitate their access to beneficiaries.
E-Marketing
The financial affairs specialist, Shirwan Mustafa, explained that "the effective and effective use of communication networks in the field of electronic marketing works to encourage and consolidate the idea of marketing local products strongly through these networks," adding, "What we are doing is part of a large program to create a training environment for young people to invest These are opportunities that fit their hopes and aspirations in the era of the information revolution.”
Academics believe that the digital transformation of the Iraqi economy requires long-term economic reforms that cover the pillars of the digital economy, such as ensuring access to an ideal, efficient and high-speed Internet service, improving the delivery of digital government services, and improving secure access to data.
digital transformation
Academic Saud Jayed says, “The first step in the Iraqi digital transformation should be through the provision of electronic payment services and means in full, including all Iraqis,” adding: “The Iraqi economy currently appears to be lagging behind its peers in neighboring countries, due to the absence of modern technologies that The whole world is currently pursuing it, but this does not mean that we have the necessary capabilities and resources in digital transformation, and most banks have recently expanded the method of electronic payment and providing loans after it was done according to a cumbersome mechanism for customers.”
Work Governance
As for the lecturer at the Faculty of Administration and Economics, Dr. Muhammad Samir Dheereb, he said to (Al-Sabah) “We must have clear laws regulating the work of dealings with companies that provide us with telecommunications and Internet services before we begin to govern the banking business and turn it into a fully digital field.”
He continued, “The world of banking is in dire need. to modern digital technologies, but this requires huge efforts and capabilities at the highest level in providing the appropriate infrastructure, as well as ensuring cyber security, lest hackers and fraudsters penetrate those digital networks and banks sites.}.
It is known that the digital economy occupies an advanced position in the priorities of decision-makers in various countries of the world, for its important role in increasing economic growth and improving competitiveness in markets by improving access to information, characteristics and requirements of markets in order to achieve comprehensive development. LINK
****************
Samson: After the rise in oil, an expert reveals the possibility of reducing the dollar exchange rate with this mechanism
20th October, 2021
The economic expert, Nabil Al-Marsoumi, revealed, on Wednesday, the possibility of restoring the dollar exchange rate to its previous era, by a certain mechanism.
Al-Marsoumi told Mawazine News, "The current budgets in Iraq have inflated, and the 2021 budget differs from its predecessors," noting that "the actual spending of the country exceeds 110 trillion dinars. Therefore, in light of current prices, if the exchange rate is restored, debts of up to 120 trillion dinars will accumulate."
He added, "It is possible for the state to gradually improve the Iraqi dinar exchange rate because the shock method adopted in changing the exchange rate was not appropriate."
Al-Marsoumi stressed, “The rise was at a high rate and at an inappropriate time, at a time when poverty indicators rose due to the Corona virus, and there was an uproar and shock in the markets.” LINK
*****************
Tivon: IMO: There is that word "mechanism" again. Are we not familiar with what this means? Surely they repeated this mantra enough for you to become accustomed to the eventual outcome if this mechanism were to be implemented.
I mean wasn't this the reason the Master/Visa card issuance was delayed to retirees and employees because this mechanism was not in place?
I do not know the nature of a gradual in release or increase means as I assume out of the gate that the Dinar will come out on the Forex at 1:1 and slowly rise from that value to higher digits. Because I highly doubt that they would gradually increase the rate on global trade markets coming out the gate at only 10-20 cent as this would cause imbalances in their markets in terms of fair trade value against other currencies.
I do not like how this economic expert is presenting this option as if they have other viable means to bring purchasing power to Iraq. They are at the bottom of the pit.
How can you say possible and not mandatory that it is imperative that you increase your currency so you can survive that next year onwards? Is it not obvious that this has to be done immediately?
Does he not know that this is what was promised by Al-khazemi (PM) prior to October 10th elections? The new digital payment system is what is needed for the credit cards to work alongside the paper money as they withdraw them from the market.
I don't know how else to address the pending emergence of a new rate with all its variables as to how it can happen.
Are they waiting for an economic crash by way of Evergrande default on the 23rd? Which will have worldwide implications.
What major event needs to happen in order to bring about this reinstatement? WW3? Economic Crash? Food Shortages?
I mean a National Emergency would surely put the fire under Iraq if they were faced with possible conflict from Iran. I guess I am just ranting at this point but the point remains someone is causing problems in the roll out. Any guess as to who or what anyone? Or is this apart of the strategy?
Samson: Iraq and Iran agree to exchange convicts and return corruption money
20th October, 2021
Justice Minister Abdul Sattar Mohammad signed in Tehran with his Iranian counterpart, Amin Hossein Rahimi, today, Wednesday, a joint statement on expanding legal and judicial relations between the two countries.
The statement was prepared and signed in four paragraphs on the principle of good faith and the need to strengthen mutual relations between the two countries, according to the official IRNA news agency.
The main themes of the statement revolve around the following topics:
1- Holding continuous and periodic talks within the framework of a joint legal committee, with an emphasis on the implementation of legal and judicial agreements between the two countries.
2- The exchange of experiences in the field of human rights, anti-corruption and children’s rights, and “
3- The exchange of convicts between the two countries and the removal of obstacles in this field”.
4- Drafting an agreement to return corrupt financial assets.
It is reported that Justice Minister Abdul Sattar Muhammad arrived in Tehran two days ago at the invitation of his Iranian counterpart Amin Hossein Rahimi, and his visit will last for four days. LINK
****************
Samson: The Minister of Oil sets the price of a barrel in the budget and expects crude to reach $100
20th October, 2021
On Wednesday, Oil Minister Ihsan Abdul-Jabbar set the price of a barrel in the 2022 budget, while he expected crude to reach $100 LINK
**************
Samson: Oil Minister: Fixing the oil price in next year's budget at $60
10/20/2021 13:40:17
Oil Minister Ihsan Abdul-Jabbar announced that the price of oil in the next year's budget 2022 will be fixed at $60 per barrel instead of $50.
Abdul-Jabbar expected oil prices to reach $100 per barrel in the first and second quarters of 2022, with global stockpiles dropping to their lowest levels, Reuters reported.
On the sidelines of his recent participation in the Russian Energy Week conference in Moscow, he said that the market must be balanced during the second half of this year, explaining that the fair price of oil is $85 per barrel. LINK
Iobey777: I seem to recall FRANK talking (a long time ago) that the price of oil would be $100/brl at the time of the RI! Perhaps, that may be when we see the highest rate of the dinar? It could happen that we see them start the float ( which I believe they have according to articles) and then in early 2022, we reach the height of the scale! Just my thoughts...
Yesterday at 6:27 pm by Rocky
» In just two weeks, the Sudanese is awaiting an action plan from the relevant ministries in agreement
Yesterday at 3:35 pm by Rocky
» A thousand dinars every month.. An expert predicts the shape of the final journey of dollar prices
Yesterday at 3:32 pm by Rocky
» Parliamentary Oil: The budget deficit is under control
Yesterday at 3:28 pm by Rocky
» Parliamentary proposals to impose an economic blockade on Iraq
Yesterday at 3:18 pm by Rocky
» His advisor: Al-Sudani succeeded in digital transfer in banks
Yesterday at 3:12 pm by Rocky
» Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
Yesterday at 3:10 pm by Rocky
» Iraq is preparing to bid farewell to the blonde old woman and end the UNAMI mission
Yesterday at 2:46 pm by Bama Diva
» utube MM&C 4/30/24 Projects - Confidence Building - National Bank of Iraq
Yesterday at 7:24 am by Rocky
» Al-Sudani: The government is serious about moving to a diversified economy and supporting the indust
Yesterday at 7:18 am by Rocky
» Deputy: The dollar exchange rate is still high
Yesterday at 7:12 am by Rocky
» The Finance Committee reveals the total transfers today in Iraq
Yesterday at 7:08 am by Rocky
» Minister of Industry: Iraq does not have iron ores suitable for production and we depend on imports
Yesterday at 7:06 am by Rocky
» “The Dilemma of Economic Decisions”... Implementing a gasoline price increase despite opposition fro
Yesterday at 7:03 am by Rocky
» Ukrainian trade explodes with a “surprise”: Iraq has contracted with a “fake” Ukrainian company to d
Yesterday at 6:55 am by Rocky
» Iraq is preparing to invest in the largest gas field
Yesterday at 6:49 am by Rocky
» An economic expert for Nina: The World Bank’s expectations that Iraq will achieve a high growth rate
Yesterday at 6:43 am by Rocky
» The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”
Yesterday at 6:40 am by Rocky
» The largest gas field in Iraq is close to seeing the light: a wealth that will reduce the import bil
Yesterday at 6:39 am by Rocky
» Minister of Resources: Water storage in dams is at its best
Yesterday at 6:37 am by Rocky
» Sadiqoun demands that Taqadum give up all positions in exchange for the presidency of Parliament
Yesterday at 6:33 am by Rocky
» Al-Sudani inaugurates the continuous casting factory at the General Company for Steel Industries in
Yesterday at 5:28 am by Rocky
» Iraq exports to America more than 4 million barrels of crude oil and its derivatives in a month
Yesterday at 5:26 am by Rocky
» Al-Sudani: We are committed to workers’ rights and reconstruction projects will not stop
Yesterday at 5:21 am by Rocky
» The Parliamentary Development Institute organizes a workshop on the right to information law
Yesterday at 5:15 am by Rocky
» Parliamentary Integrity: The judiciary is making a great effort to resolve the theft of the century
Yesterday at 5:11 am by Rocky
» Parliamentary Finance: The government holds responsible for the delay in sending the budget schedule
Yesterday at 5:07 am by Rocky
» Economist: Iraq faces a shortage of 3.5 million housing units
Yesterday at 5:06 am by Rocky
» Obelisk Hour: Sudanese’s visit to Washington did not address the “American exit”
Yesterday at 5:04 am by Rocky
» Planning clarifies the position on contracts and wages from the job number platform
Yesterday at 5:01 am by Rocky
» New country legalizes cryptocurrencies
Yesterday at 4:57 am by Rocky
» The UAE's Dana Gas announces the resumption of work in the "Kormor" field
Yesterday at 4:55 am by Rocky
» The International Comprehensive Shopping Festival kicks off in an Iraqi governorate
Yesterday at 4:54 am by Rocky
» The Minister of Labor gives good news to the workers: Wait for next week
Yesterday at 4:52 am by Rocky
» Iraq's water storage is at its best... Will it address the agricultural situation?
Yesterday at 4:51 am by Rocky
» The government takes a number of new decisions
Yesterday at 4:49 am by Rocky
» The Minister of Labor announces an increase in the salary of retired workers by 100 thousand dinars
Yesterday at 4:46 am by Rocky
» Al-Sudani: Service projects in Iraq “will not stop”
Yesterday at 4:44 am by Rocky
» 90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency s
Yesterday at 4:39 am by Rocky
» Iraq is implementing a "modern strategy" to get rid of a "Sumerian custom" that depleted the waters
Yesterday at 4:37 am by Rocky
» The Minister of Transport announces the opening of 48 collective lines in six governorates
Yesterday at 4:35 am by Rocky
» The Federal Integrity Commission announced the arrest of waste of public money, violations and manip
Yesterday at 4:34 am by Rocky
» Government Media: 3 million citizens have registered so far on the Ur electronic portal
Yesterday at 4:33 am by Rocky
» Labor Day in Iraq.. 6 million workers with an unknown future and stolen rights, and 90% of them “wit
Yesterday at 4:31 am by Rocky
» Iranian Chamber of Commerce: Iraq's investment budget is 150 billion dollars, and our share in it mu
Yesterday at 4:25 am by Rocky
» On International Workers’ Day... The President of the Republic: We stress the necessity of working t
Yesterday at 4:23 am by Rocky
» Prime Minister: We affirm our commitment to all Iraqi workers, men and women, to provide a work envi
Yesterday at 4:22 am by Rocky
» Progress threatens to withdraw from the political process in the event of infringement on its quota
Yesterday at 4:20 am by Rocky
» Bloomberg: Iraq violated its oil export quota and did not adhere to OPEC+ decisions
Tue 30 Apr 2024, 6:23 pm by Rocky
» Al-Sudani stresses the importance of following up on the understandings reached between Iraq and Ame
Tue 30 Apr 2024, 3:56 pm by Rocky
» From "everything is imported" to "food made by one's own hands"... Parliamentary reference to Iraq's
Tue 30 Apr 2024, 3:51 pm by Rocky
» The government hires an external auditor for the Trade Bank of Iraq
Tue 30 Apr 2024, 3:45 pm by Rocky
» Among them relates to the path of development...the full decisions of the Council of Ministers sessi
Tue 30 Apr 2024, 3:37 pm by Rocky
» Al-Maliki warns of the Washington Embassy's plans to threaten Iraqi society
Tue 30 Apr 2024, 11:51 am by wciappetta
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
Tue 30 Apr 2024, 10:44 am by Rocky
» Iraqi Business: There are no financial fears in Iraq for three years, and fear regarding the path of
Tue 30 Apr 2024, 10:34 am by Rocky
» Parliament is discussing with the Finance and Retirement Law amending the Landlords Law
Tue 30 Apr 2024, 10:27 am by Rocky
» Customs and taxes... Parliamentary Finance talks about huge sums of money that do not enter the stat
Tue 30 Apr 2024, 10:23 am by Rocky
» Parliamentary Oil threatens to sue the Ministry of Oil over raising gasoline prices
Tue 30 Apr 2024, 10:21 am by Rocky
» Iraq begins installing radiation screening gates at border crossings
Tue 30 Apr 2024, 10:17 am by Rocky
» Hong Kong launches Asia's first Bitcoin and Ether ETFs
Tue 30 Apr 2024, 10:11 am by Rocky
» Al-Mandalawi discusses with the delegation of the Jordanian Senate the achievement of economic integ
Tue 30 Apr 2024, 10:07 am by Rocky
» Parliament draws attention to the work of security companies in Iraq and identifies the party concer
Tue 30 Apr 2024, 9:59 am by Rocky
» How does a Sudanese choose the countries he visits and what are his messages?
Tue 30 Apr 2024, 9:54 am by Rocky
» Baghdad alerts Erbil of a “defect” related to agriculture and requests coordination regarding areas
Tue 30 Apr 2024, 9:46 am by Rocky
» State real estate... between Parliament's movements and a new door to corruption
Tue 30 Apr 2024, 9:38 am by Rocky
» Economist: The Central Bank committed a massacre against private banks at the expense of foreign one
Tue 30 Apr 2024, 9:30 am by Rocky
» Without discussing the agenda, the House of Representatives adjourns its session
Tue 30 Apr 2024, 9:20 am by Rocky
» Parliament reveals details of the “Law to replace custodial sentences in exchange for financial sums
Tue 30 Apr 2024, 7:52 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Tue 30 Apr 2024, 7:40 am by Rocky
» Parliamentary Planning: The Federal Service Law will regulate the work of the public service
Tue 30 Apr 2024, 7:30 am by Rocky
» A representative calls for amendments to the 2024 budget tables
Tue 30 Apr 2024, 7:23 am by Rocky
» Al-Badri: America bears responsibility for restricting the security services and not providing monit
Tue 30 Apr 2024, 7:18 am by Rocky
» State of Law: Sudanese’s recent discussions will impose another reality in relations with Washington
Tue 30 Apr 2024, 7:15 am by Rocky
» Parliamentary warning about the delay in sending budget schedules
Tue 30 Apr 2024, 7:10 am by Rocky
» Deputy: We will not allow the American ambassador to install herself as President of the Republic of
Tue 30 Apr 2024, 7:03 am by Rocky
» The government and Parliament are discussing completing the 2024 budget and sending it to a vote
Tue 30 Apr 2024, 6:58 am by Rocky
» "Finance" reveals the reason for the delay in disbursing the Kurdistan Region's salaries for the mon
Tue 30 Apr 2024, 6:56 am by Rocky
» With "more than" one billion dollars.. Iraq is "fourth" on the list of "largest" importers from Turk
Tue 30 Apr 2024, 6:55 am by Rocky
» The Interior Ministry discovers properties and houses that were usurped and seized in “Al-Bataween”
Tue 30 Apr 2024, 6:54 am by Rocky
» “No province is devoid of it.” Shafaq News opens the file of a disease that “has no cure” in Iraq
Tue 30 Apr 2024, 6:52 am by Rocky
» Parliamentary Finance: The Council of Ministers will vote today on the 2024 budget schedules
Tue 30 Apr 2024, 6:51 am by Rocky
» Al-Halbousi party threatens to withdraw from the entire political process because of the “Sunni mino
Tue 30 Apr 2024, 6:49 am by Rocky
» For the first time... adopting an “automation” system for transporting goods at the ports of the Kur
Tue 30 Apr 2024, 6:48 am by Rocky
» Qatar.. The Iraqi Stock Exchange obtains the shield of the Arab Capital Markets Union
Tue 30 Apr 2024, 6:43 am by Rocky
» An Iraqi court activates the electronic legal evidence and division systems
Tue 30 Apr 2024, 6:42 am by Rocky
» What are the reasons for the Emirati-Turkish interest in the path of “development”?.. A British repo
Tue 30 Apr 2024, 5:33 am by Rocky
» The Council of Ministers votes today on the 2024 budget schedules
Tue 30 Apr 2024, 5:32 am by Rocky
» At a cost of 73 billion...exposing cases of fraud and suspicions of corruption in implementing a pro
Tue 30 Apr 2024, 5:29 am by Rocky
» Labor announces the release of the salaries of retired insured workers for the month of May with an
Tue 30 Apr 2024, 5:26 am by Rocky
» A parliamentary committee discusses a draft government program evaluation report
Tue 30 Apr 2024, 5:24 am by Rocky
» Parliamentary Finance: We are keen to mature the amendment to the Landlords Law in preparation for i
Tue 30 Apr 2024, 5:20 am by Rocky
» Al-Mandalawi and Al-Sudani discuss political efforts to complete constitutional entitlements and res
Tue 30 Apr 2024, 5:17 am by Rocky
» Resources are taking action to conserve water
Tue 30 Apr 2024, 5:12 am by Rocky
» Early 2025.. a date for the start of implementation of the “Development Road”
Tue 30 Apr 2024, 5:10 am by Rocky
» Budget schedules postpone the House of Representatives' recess
Tue 30 Apr 2024, 5:08 am by Rocky
» Next May 12.. is the date for opening bids for the Baghdad and Najaf-Karbala metro projects
Tue 30 Apr 2024, 5:07 am by Rocky
» Tourism in the region is expected to grow by 60%.
Tue 30 Apr 2024, 5:05 am by Rocky
» Najaf administrators and engineers are demanding appointments and job opportunities
Tue 30 Apr 2024, 5:04 am by Rocky