The government dollar...a “hollow” announcement and new fatigue for travelers
[You must be registered and logged in to see this link.] |Today
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] |Today
[You must be registered and logged in to see this image.]
+A
-A
Baghdad today - Baghdad
The day before yesterday, Saturday, government banks began launching the electronic reservation service to sell the dollar to travelers at the official price set by the Central Bank of Iraq of 1,320 dinars.
The Rasheed and Rafidain government banks have identified a special mechanism to obtain the dollar through advance electronic reservation, with each traveler’s share amounting to 3,000 thousand dollars.
After completing the form, the customer goes to one of the branches of the two banks designated for them in Baghdad as a first stage to deposit the cash amount in Iraqi dinars, which was marked through the electronic reservation form, and is handed a filled-out MasterCard card worth $3,000 to be disbursed on the day of his travel from the bank’s outlet at Baghdad International Airport exclusively.
This is the new mechanism in its elegant way, but “what was hidden was greater,” as a responsible banking source revealed to “Baghdad Today” that “the electronic reservation link does not work until about two hours in the morning at the beginning of the official working hours of the Rasheed and Al-Rafidain banks due to the large number of advance reservations on it and it does not receive “Only those with great luck” due to the large number of requests from those wishing to travel.
The source says, “Each branch designated by the two banks for electronic reservation provides only 25 MasterCard cards per day, which constitute only a very small percentage compared to thousands of requests.”
He added, "Although it was the beginning, it was not encouraging due to the inability of government banks to secure the many requests due to the scarcity of the dollar or the strict procedures of the Central Bank of Iraq and the administrative bureaucracy to prevent the leakage of currency into the black market."
The source did not rule out "the occurrence of favoritism and affiliation in some cases, bypassing the electronic reservation mechanism and granting dollars directly from the airport port in the traditional way to friends and close associates of officials or employees in government banks, but it remains relatively limited."
In a step aimed at reducing the “climbing” of foreign currency, whose exchange rate reached 160,000 dinars for every 100 dollars in the parallel market, the Central Bank, during the past weeks, opened exchange offices at Baghdad Airport, with the aim of facilitating the mechanism for travelers to obtain the dollar, but Other specialists believe that this step is “temporary” and cannot address the imbalance from its roots, calling for the necessity of taking strict economic decisions that would put an end to what they described as the “escape” of the dollar.
Economists say that these measures “are no longer sufficient to control the rise in the price of the currency, because the shares of banking companies have been reduced, so this will not compensate for the shortfall, and this matter will not break the psychological barrier and thus lead to the rise of the dollar.”
They expressed their fear that speculative operations would continue, and thus a new rise in the dollar would occur, pointing out that opening banks for travelers is an insufficient measure, unless it is monitored continuously and permanently.
Economist Nabil Al-Marsoumi pointed out in a previous statement, “The difficulty of travelers obtaining dollars led some of them to sometimes spend the night at the gates of offices and banking companies, and a large portion of travelers did not receive their share in the end of the dollars allocated to them by the Central Bank, so The Central Bank’s latest step to open exchange offices in four airports (Baghdad, Najaf, Erbil, and Basra) could achieve great success if the process is implemented correctly.”
The Governor of the Central Bank, Ali Al-Alaq, had recently opened new outlets for selling the dollar at Baghdad Airport, and stressed “the speed of completing transactions by government banks and exchange companies that sell the dollar to travelers at Baghdad International Airport, as this is limited to a specific time,” noting that “the step of opening outlets New facilities at the airport will have positive effects, especially since it takes a short time for the traveler to receive his share of the dollar.”
Local markets are awaiting a new government measure to rein in the dollar, which was revealed by Prime Minister Fadi Al-Shammari’s advisor the day before yesterday, Friday, when he said that Prime Minister Muhammad Shiaa Al-Sudani will announce this week a new banking service for small merchants that will lead to a decrease in the exchange rate and facilitate their work procedures.
[You must be registered and logged in to see this link.]
Today at 7:46 am by Rocky
» Economist calls on the government to resort to tax exemption
Today at 7:45 am by Rocky
» Iraqi Oil Company for Investment and Pricing of Raw Gas Produced
Today at 7:44 am by Rocky
» Increase in activity at Mandali border crossing during the current year
Today at 7:43 am by Rocky
» MP: New cities map will include eight governorates next year
Today at 7:42 am by Rocky
» The Ministry of Finance confirms that the employee is entitled to university service allowances whil
Today at 6:15 am by Rocky
» Media Commission and Starlink discuss cooperation prospects to provide internet services in Iraq
Today at 6:13 am by Rocky
» Prime Minister: Iraq is witnessing an urban and economic renaissance and revitalization of the indus
Today at 6:12 am by Rocky
» Kurdistan Finance announces the results of its delegation's recent visit to Baghdad
Today at 6:11 am by Rocky
» "We will guarantee your rights".. A specialized committee reassures the drilling company's cadres af
Today at 6:10 am by Rocky
» Iraq discusses cooperation with SpaceX to provide internet services
Today at 6:09 am by Rocky
» Among them are young people.. the most prominent groups included in the distribution of housing unit
Today at 6:08 am by Rocky
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
Today at 6:07 am by Rocky
» Al-Samarrai praises Al-Sudani’s speech before the United Nations: It is worthy of Iraq, its history
Today at 6:04 am by Rocky
» Iraqi expert raises the principle of "no return" in Lebanon: We are facing the hypocrisy of the larg
Today at 6:02 am by Rocky
» New tax will push house prices up, Iraq's real estate market into recession
Today at 6:00 am by Rocky
» Iraqi oil returns to the red zone, affected by the collective decline in prices
Today at 5:59 am by Rocky
» “Iraq at a Crossroads”… Will Climate Change Become an Opportunity for Innovation and Sustainability?
Today at 5:57 am by Rocky
» Masrour Barzani to Parliamentary Finance: Halting oil exports caused Iraq to lose $19 billion
Today at 5:55 am by Rocky
» 1291 projects stuck in Iraq.. achievements on paper and ruins on the ground!
Today at 5:53 am by Rocky
» Violated Childhood.. Iraq suffers from the absence of law and the continuation of the cycle of viole
Today at 5:52 am by Rocky
» Chinese Ambassador: We are determined to provide support to Iraq regarding armament and developing m
Today at 5:50 am by Rocky
» Activating electronic services in the presidencies of the courts of appeal
Today at 5:49 am by Rocky
» Trump threatens to turn Iran's largest cities into rubble.. Iraqi expert explains
Today at 5:47 am by Rocky
» Parliamentary Finance Delegation Visits Kurdistan.. Salaries, Oil and Ports Files on the Table of Ba
Today at 5:46 am by Rocky
» Iraqi bank achieves “achievement” in electronic transactions
Today at 5:44 am by Rocky
» State of Law: The coming days are fateful for America and its interests in the region
Today at 5:35 am by Rocky
» Iraq announces sending 75 tons of medical aid to Lebanon by air
Today at 5:34 am by Rocky
» Economist reveals reasons for the return of the dollar's rise in Iraq
Today at 5:33 am by Rocky
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
Today at 5:31 am by Rocky
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
Today at 5:29 am by Rocky
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
Today at 5:27 am by Rocky
» Iraq signs with Jordan the second amendment to the electricity sales contract
Today at 5:26 am by Rocky
» US-Gulf meeting stresses importance of Iraq's respect for Kuwait's sovereignty
Today at 5:24 am by Rocky
» New information about "the arrival of 40,000 Iraqi and Yemeni fighters to the Golan"... and Assad is
Today at 5:21 am by Rocky
» 71,000 barrels per day.. Iraqi oil exports decreased last month
Today at 5:20 am by Rocky
» Does the “Right to Information” Law restrict freedoms? Why weren’t journalists involved in its formu
Today at 5:18 am by Rocky
» Zidane: The judiciary considers issues of a political nature imposed by the constitution and the law
Today at 5:15 am by Rocky
» Engineers apply new tech to model deadly brain tumors
Yesterday at 10:28 am by Bama Diva
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
Yesterday at 6:18 am by Rocky
» Iraqi banks cause citizens to “reluctantly” take out loans to purchase solar energy systems for home
Yesterday at 6:11 am by Rocky
» What are the reasons behind the "weakness" of imports of goods from Iraq?
Yesterday at 6:09 am by Rocky
» Iran announces exporting $4 billion worth of technical engineering services to Iraq
Yesterday at 6:07 am by Rocky
» Social Protection: Red tape hinders access to support, Ministry of Labor adopts new initiatives
Yesterday at 6:03 am by Rocky
» Parliamentary Committee: There are people controlling investment in Iraq
Yesterday at 6:01 am by Rocky
» Al-Abadi coalition: Kurds must admit mistakes in referendum file
Yesterday at 5:59 am by Rocky
» Accusations against the Ministry of Finance of obstructing the disbursement of Anbar farmers’ dues
Yesterday at 5:57 am by Rocky
» After Al-Hamdani joined Al-Halbousi... he went on to become furious
Yesterday at 5:56 am by Rocky
» Parliamentary Integrity: Suspicions of corruption surround some ministries
Yesterday at 5:55 am by Rocky
» Parliamentary bloc indicates major defect in companies' work east of the canal
Yesterday at 5:53 am by Rocky
» Political veto disrupts interrogation of Al-Sudani government
Yesterday at 5:51 am by Rocky
» New food basket meal to be launched soon
Yesterday at 5:49 am by Rocky
» Residential complexes in Baghdad: “huge” profits and “non-compliant” feasibility
Yesterday at 5:48 am by Rocky
» Including Iraq.. $32 billion is the value of Iran’s trade exchange with neighboring countries by 202
Yesterday at 5:46 am by Rocky
» Transport Minister discusses in London procedures to return Iraq to the International Maritime Organ
Yesterday at 5:41 am by Rocky
» Trade: New services to simplify procedures and register companies electronically
Yesterday at 5:40 am by Rocky
» Rafidain launches barcode system for certificates of establishment for Iraqi and foreign companies
Yesterday at 5:38 am by Rocky
» Foreign Minister discusses with his Indian counterpart economic and trade opportunities between the
Yesterday at 5:37 am by Rocky
» Minister of Finance participates in Asian Infrastructure Investment Bank meetings
Yesterday at 5:36 am by Rocky
» Water Resources announces the approval of the agricultural plan for the winter season
Yesterday at 5:35 am by Rocky
» Rafidain Bank approves electronic issuance of company incorporation certificates
Yesterday at 5:33 am by Rocky
» Al-Sudani: We pulled 12 million people out of poverty through cash grants
Yesterday at 5:30 am by Rocky
» The judiciary donates the council’s surplus properties to build treatment clinics for drug addicts
Yesterday at 5:29 am by Rocky
» Iraq renews its serious commitment to cooperate with the international community to combat terrorism
Yesterday at 5:28 am by Rocky
» Hanoun: We count on the Chinese Interpol to support us in retrieving the accused
Yesterday at 5:27 am by Rocky
» The Iraqi Embassy in Lebanon allocates a hotline to communicate with Iraqis in Beirut
Yesterday at 5:25 am by Rocky
» The dollar loses its mind.. Crazy rise in exchange rates
Yesterday at 5:23 am by Rocky
» The Central Bank announces the imminent adoption of the phone in completing banking operations in di
Yesterday at 5:19 am by Rocky
» Al-Sudani directs the opening of the Jamima crossing to facilitate the entry of pilgrims and Umrah p
Yesterday at 5:17 am by Rocky
» Al-Sudani to Erdogan: Resolving the situation on the common border according to the mechanism for se
Yesterday at 5:16 am by Rocky
» Al-Sudani meets the Cypriot President in New York
Yesterday at 5:15 am by Rocky
» Parliamentary Finance: Iraq is experiencing good and stable economic conditions
Yesterday at 5:14 am by Rocky
» The Central Bank decides to refer a bank to "forced liquidation"
Yesterday at 5:10 am by Rocky
» Parliamentary talk about Baghdad residential complexes: profits reach 300%
Yesterday at 5:07 am by Rocky
» The dollar continues its upward path in the Baghdad Stock Exchange
Yesterday at 5:05 am by Rocky
» Someone talked about corruption suspicions.. A message to the Sudanese from demonstrators in front o
Yesterday at 5:04 am by Rocky
» Many problems and incorrect deduction of amounts.. Has corruption reached "Sweeg"?
Yesterday at 5:03 am by Rocky
» Setting a date for releasing salaries for more than one million families covered by care
Yesterday at 5:01 am by Rocky
» New Outcomes from the Talks of the Prime Minister and the US Deputy Secretary of the Treasury
Yesterday at 5:00 am by Rocky
» Prominent victim of the sex-change regime endorses Trump in gut-wrenching ad
Wed Sep 25, 2024 11:26 am by Bama Diva
» utube 9/24/24 MM&C Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Finan
Wed Sep 25, 2024 8:01 am by Rocky
» utube 9/23/24 MM&C Iraqi Dinar News Update - IQD News - Al-Sudani-79th & Sideline Meetings-UNGA-NYC
Wed Sep 25, 2024 8:00 am by Rocky
» What is Iraq's connection? An economist diagnoses the reasons for the "pessimistic" expectations reg
Wed Sep 25, 2024 7:54 am by Rocky
» Chinese Ambassador: The "Development Road" project and the "Belt and Road" initiative are completely
Wed Sep 25, 2024 7:52 am by Rocky
» Basra government signs with the International Labor Organization the Executive Procedures Guide for
Wed Sep 25, 2024 7:50 am by Rocky
» Iraqi Central Bank sales exceed $253 million in today's auction
Wed Sep 25, 2024 7:48 am by Rocky
» Localization of employees’ salaries and border crossings.. the most important topics discussed in th
Wed Sep 25, 2024 7:46 am by Rocky
» Justice is about to create a database to count real estate belonging to government institutions
Wed Sep 25, 2024 7:45 am by Rocky
» New additions and amendments awaiting the "General Amnesty Law"
Wed Sep 25, 2024 7:40 am by Rocky
» Localization of employees’ salaries, the oil file and the ports on the table of the Finance Committe
Wed Sep 25, 2024 7:39 am by Rocky
» Courts of Appeal Embrace Technology: Details of New E-Services
Wed Sep 25, 2024 7:36 am by Rocky
» Iraq, China sign MoU on combating corruption, pursuing wanted persons, and recovering assets
Wed Sep 25, 2024 7:35 am by Rocky
» Parliament to hold special session next Saturday to discuss aggression on Lebanon
Wed Sep 25, 2024 7:34 am by Rocky
» Parliamentary Finance: The government has guaranteed the liquidity of salaries and there is no crisi
Wed Sep 25, 2024 7:32 am by Rocky
» Iraq Personal Status: An Endless Debate Between Sects and Rights
Wed Sep 25, 2024 7:30 am by Rocky
» After Blinken's meeting: Will Sudan resolve the Ceyhan pipeline crisis before the end of the year?
Wed Sep 25, 2024 7:28 am by Rocky
» Iraq is close to announcing a joint statement with the international coalition
Wed Sep 25, 2024 7:27 am by Rocky
» Finance issues new circular on employee appointment
Wed Sep 25, 2024 6:19 am by Rocky
» The Supreme Judicial Council announces the activation of electronic services in the presidencies of
Wed Sep 25, 2024 6:17 am by Rocky