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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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    7 decisions to control the exchange rates of the dollar in Iraq

    Rocky
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    • Post n°1

    7 decisions to control the exchange rates of the dollar in Iraq Empty 7 decisions to control the exchange rates of the dollar in Iraq

    Post by Rocky Sun 22 Jan 2023, 10:44 am

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    22-Jan-2023
    [You must be registered and logged in to see this image.]    Ultra Iraq - Editorial Team
    On Sunday, Prime Minister Muhammad Shia' al-Sudani chaired a meeting with the Federation of Iraqi Chambers of Commerce, which was devoted to discussing the causes of exchange rate fluctuations in the foreign currency in the Iraqi market and its impact on citizens, and to develop "critical solutions" in this regard.
    The meeting was attended by the governor of the Central Bank of Iraq, and the general managers of border crossings, tax, customs, and trade fairs, according to a statement by Al-Sudani's office.
    The meeting resulted, based on Al-Sudani’s directives, in several decisions aimed at “stabilizing the exchange rate, preventing manipulation, and limiting damage to the national economy,” most notably:
    [list="color: rgb(0, 0, 0); font-family:"][*]Opening a new window for selling foreign currency to small traders through the Trade Bank of Iraq (TBI).

    [*]Financing the Central Bank of the Trade Bank of Iraq (TBI) with an additional amount of 500 million US dollars for the purpose of opening documentary credits for small merchants, and being satisfied with the initial invoice and the account number of the last beneficiary of the credit.

    [*]Launching the import of goods and merchandise for companies registered with the Companies Registration Department at the Federal Ministry of Trade of all types of companies and factories registered with the General Directorate of Industrial Development and investment projects of all kinds duly licensed by investment commissions, scientific offices duly registered, individuals and offices registered with the Iraqi Chambers of Commerce (included in the condition of import license or not covered). 

    [*]Facilitating import procedures, reducing the requirements for opening documentary credits, and canceling the notification of the General Tax Authority to impose delay fines on importers and the rest of those charged with the General Tax Authority.

    [*]Involving the Chambers of Commerce and the Federation of Industries in the sessions of the Ministerial Council for Economy, representing the private sector.

    [*]This meeting is held on a weekly basis, following up on developments, implementation of decisions, and adding the aforementioned bodies to attend the meeting.

    [*]Adding the Real Estate Registration Department to this meeting, as well as the Registrar of Companies, Industrial Development, the Investment Authority, and the Rafidain and Rasheed Banks.

    [/list]
    Al-Sudani explained, during the meeting, that "the responsibility to confront fluctuations in the local market is a joint responsibility, and it has a moral and patriotic dimension, and everyone must respond to it, whether in the private or public sector."
    Al-Sudani stressed, "Reconsidering the work of the General Tax Authority, and that its work be in accordance with the standards of integrity and the law, and stressed that the government will not tolerate any harm that the citizen is a victim of."
    Al-Sudani expressed "the seriousness of government agencies in carrying out economic reforms and addressing the deterioration and setback caused by wrong decisions in previous years."
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