Home
[size=36]The Governor of the Central Bank denies the existence of a scarcity of dinar stocks and specifies the size of the monetary supply[/size]
Economy | 02:03 - 11/27/2023
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
Mawazine News - Baghdad
The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied today, Monday, the existence of a scarcity in the stock of the Iraqi dinar, and while determining the size of the dinar’s monetary mass and those in circulation, he revealed a broad strategic plan to expand the transition to electronic payment.
Al-Alaq said, “The state’s financial situation generally depends on its imports, which are currently at a good level as a result of the rise in oil prices,” stressing that “it is important to invest this money in a way that accelerates opportunities for construction, advancement, and development.”
He added, "The positive thing about the government's work is that it is moving in this direction, and there is great emphasis and focus on completing projects," indicating that "there are a large number of projects that were stalled and stalled for many reasons, and there is work to address the situation and accelerate the projects, especially as they are mostly related to infrastructure." Services, etc., and the government gives this matter great attention, priority, and close follow-up by the Prime Minister personally.”
He pointed out that "there is a wide movement regarding the demand for investment projects in the country," noting that "a large number of companies and countries have begun to conduct studies and have identified some projects to begin in Iraq."
Al-Alaq said, “These are positive indicators that benefit from the state of stability in the country and the stability of the financial and monetary conditions,” pointing out that “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.”
He denied, "There is a scarcity in the stock of the Iraqi dinar," adding, "We are responding to the demand for the Iraqi dinar or in relation to the dollar in dinar initiative for the purposes of the Ministry of Finance."
He stressed that "the trend towards electronic payment aims to limit the phenomenon of the cash economy, which has major negative effects on the Iraqi economy and consequences and effects with regard to liquidity management and the costs of this liquidity from printing currency and controlling it," explaining that "the government trend is to shift to electronic payment to reduce... This phenomenon".
He stated, "There are trends at many levels in this context, and there is direct coordination between the government and the Central Bank. Electronic payment experiments and tools have begun to be circulated in many areas, and there is a broad and strategic plan at the Central Bank to expand in this field," calling on citizens to "keep abreast of the developments that have occurred and are occurring." In all countries of the world, to reduce the phenomenon of using cash.”
He pointed out that "keeping pace with development serves the citizen, the state, and the economy," pointing out that "holding cash and hoarding only carries risks, and deprives the citizen of having these amounts in his accounts and being able to benefit from them in many areas."
He noted that "the world is heading towards digital transformation, which is considered the fourth revolution in the world, and we must be close to these transformations to achieve the goals, objectives, benefits and positives that come from them."
The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied today, Monday, the existence of a scarcity in the stock of the Iraqi dinar, and while determining the size of the dinar’s monetary mass and those in circulation, he revealed a broad strategic plan to expand the transition to electronic payment.
Al-Alaq said, “The state’s financial situation generally depends on its imports, which are currently at a good level as a result of the rise in oil prices,” stressing that “it is important to invest this money in a way that accelerates opportunities for construction, advancement, and development.”
He added, "The positive thing about the government's work is that it is moving in this direction, and there is great emphasis and focus on completing projects," indicating that "there are a large number of projects that were stalled and stalled for many reasons, and there is work to address the situation and accelerate the projects, especially as they are mostly related to infrastructure." Services, etc., and the government gives this matter great attention, priority, and close follow-up by the Prime Minister personally.”
He pointed out that "there is a wide movement regarding the demand for investment projects in the country," noting that "a large number of companies and countries have begun to conduct studies and have identified some projects to begin in Iraq."
Al-Alaq said, “These are positive indicators that benefit from the state of stability in the country and the stability of the financial and monetary conditions,” pointing out that “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.”
He denied, "There is a scarcity in the stock of the Iraqi dinar," adding, "We are responding to the demand for the Iraqi dinar or in relation to the dollar in dinar initiative for the purposes of the Ministry of Finance."
He stressed that "the trend towards electronic payment aims to limit the phenomenon of the cash economy, which has major negative effects on the Iraqi economy and consequences and effects with regard to liquidity management and the costs of this liquidity from printing currency and controlling it," explaining that "the government trend is to shift to electronic payment to reduce... This phenomenon".
He stated, "There are trends at many levels in this context, and there is direct coordination between the government and the Central Bank. Electronic payment experiments and tools have begun to be circulated in many areas, and there is a broad and strategic plan at the Central Bank to expand in this field," calling on citizens to "keep abreast of the developments that have occurred and are occurring." In all countries of the world, to reduce the phenomenon of using cash.”
He pointed out that "keeping pace with development serves the citizen, the state, and the economy," pointing out that "holding cash and hoarding only carries risks, and deprives the citizen of having these amounts in his accounts and being able to benefit from them in many areas."
He noted that "the world is heading towards digital transformation, which is considered the fourth revolution in the world, and we must be close to these transformations to achieve the goals, objectives, benefits and positives that come from them."
[You must be registered and logged in to see this link.]
» utube 10/12/24 MM&C Iraq News is Powerful - Minister of Finance to adhere to Time Tables - To Achie
» utube MM&C 10/15/24 Attention to Valuation-Revaluation of Currency-IMF-WB-Viewpoints
» World Bank Support: Is External Financing Enough to Stabilize Iraq?
» Government advisor prefers maximizing non-oil revenues by 2024
» 6 Sunni parties threaten to boycott the session to elect the parliament speaker
» Reports are worrying.. MP identifies 3 reasons for Baghdad's air pollution
» Al-Furatayn: Al-Sudani's international contacts are important to ward off the specter of war
» MP reveals why political parties ignore port corruption file
» Parliamentary Committee Reveals Possibility of Extending Legislative Session in Order to Legislate L
» Source: Arrest warrant issued against head of Integrity Commission for matching his voice with leaks
» The Federal Court considers the appeal filed against the legitimacy of the Kirkuk Provincial Council
» Industry: Partnership contracts will see the light within 3 years
» Oil participates in the Atlantic Council Energy Forum
» Trade: Marketing centers will support the national product and serve employees
» Parliamentary Committee Denies Oil Products Company and Admits Kerosene Crisis... What Are the Reaso
» Coordination with the World Bank to establish projects
» 3347 different violations recorded at border crossings
» Baghdad Council: Upgrading regions and districts to increase their financial allocations
» Planning launches unified electronic platform services
» Closure of two unlicensed factories, one of which is for dairy production in the capital, Baghdad
» Launching of the activities of the international scientific conference under the slogan "Development
» Parliamentary Oil Committee reveals reasons for diesel shortage
» The Coordination Framework holds a meeting to discuss 3 files
» Barzani in Sulaymaniyah and Talabani in Dohuk.. Visits of the raging conflict and disagreements that
» The Recovery Department of the Integrity Commission concludes a cooperation agreement with the Arab
» Iraqi oil maintains gains on second day of trading
» Absent sovereignty and existing threats... Ankara continues to penetrate northern Iraq.
» Al-Dulaimi: The Aqaba pipeline will cost huge sums of money for no benefit
» Health warnings for Baghdad residents: “Black Cloud” may cause cardiac and respiratory arrest
» Al-Shammari: 757 billion dinars in the Ministry of Interior’s revenues in 2023
» Al-Sudani opens three schools in Baghdad and Maysan... all students in Al-Farah schools are included
» Several scenarios facing Al-Sudani: the most prominent of which is that he may ally with Al-Sadr
» In London.. Issuance of the first national card outside Iraq
» Baghdad Governor calls for emergency plans to address security and service challenges
» Minister of Interior calculates the amount of revenues during the year 2023
» Reconstruction: A plan to address and reduce real estate prices throughout Iraq
» Ministerial meeting draws up a joint integration map between electricity and industry
» Finance: Automation plays a vital role in reducing financial and administrative corruption
» Al-Shammari and Al-Fayadh stress support for the government’s progress and the continuation of the r
» Industry announces success in attracting investment funds worth $3.5 billion
» Government advisor: Tensions and war in the region may lead to a jump in oil prices
» The Prime Minister directs to reduce working hours today, Tuesday, to one o'clock in the afternoon
» Dollar exchange rates rise again in Iraq today
» The electoral silence phase in the Kurdistan Region begins tomorrow.. New statistics
» Zidane receives the Belgian ambassador and discusses judicial cooperation between the two countries
» utube 10/10/24 MM&C Iraqi Dinar-International Focus-WTO File Joining Completed-Regularization of G
» Trade Bank of Iraq: Cash Deposit Center to be Opened for All Customers
» Central Bank Governor discusses with German Ambassador providing support to Al Riyada Bank
» Al-Alaq: The Central Bank has taken steps to promote the use of electronic payment
» Trade Bank of Iraq announces the imminent opening of a cash deposit center in Karkh
» South Gas announces contracting with a company to establish a gas import platform at Al-Faw Port
» Work: We support the private sector and investment companies and give Iraqi workers the largest shar
» Foreign remittance sales at the Central Bank of Iraq increased by 97%
» In numbers.. The 2024 budget and the rate of Iraqi oil sales
» Currency auction likely to be cancelled in response to international pressure to combat financial sm
» Parliamentary Finance Committee reiterates: Employees’ salaries are fully secured
» Central Bank: Al-Riyada Bank for Financing Small Projects to Launch Its Services Soon
» The Environment Ministry reveals to Al-Maalouma its measures against iron smelters
» Security expert: Washington has shirked its responsibility to protect Iraqi airspace
» MP calls on Parliament to enact a law to cancel privileges granted to Jordan
» Baghdad Governor: Illegal factories and outdated refineries are causes of polluting emissions
» Laying the foundation stone for the largest skyscraper in Baghdad
» Service Effort of {Sabah}: Including 500 Projects in the 2025 Plan
» Detailed designs for the development road to begin before the end of this year
» Parliamentary Economy Committee discusses with the Central Bank of Iraq the reality of banks and the
» Al-Alaq: The Central Bank has taken steps to promote the use of electronic payment
» Identifying a “significant way” to change the state of the Ministry of Industry in Iraq
» International report: Continuous exposure to the smell of sulfur in Baghdad will lead to major healt
» Completion rate 50%.. Details of the Hit Residential Complex and the categories covered
» Executive and legislative cooperation to enhance revenues
» Service Effort: Implementation of (260) projects in Baghdad next year
» Diversify income
» Minister of Resources to Al-Sabah: Activating a memorandum of understanding with Egypt to combat des
» European Union to Al-Sabah: We support Iraq's efforts to de-escalate
» Distribution of 8 thousand residential plots in Wasit
» Rehabilitation of electrical networks in Diwaniyah neighborhoods
» Coordination between migration and planning to include displaced persons in the population census
» Minister of Health to {Sabah}: 450 contracts concluded to supply cancer and heart treatment drugs
» Public-Private Partnership: The Basis for Economic Renaissance
» Sustainable Development Goals
» Prime Minister's Advisor to {Al-Sabah}: Implementation of the 2024 budget is proceeding smoothly
» 500 Ministers, Senior Officials and Decision Makers at Knowledge Summit 2024 in Dubai
» Al-Mandlawi arrives in Geneva at the head of a parliamentary delegation
» Zidane discusses with Russian ambassador the implementation of the memorandum of understanding with
» Minister of Interior stresses the importance of continuing to train members of the Explosives Contro
» With international participation...Basra University of Oil and Gas is preparing to hold its first in
» Environment studies developing Najaf Sea Reserve
» Parliamentary meeting with the Minister of Finance and the heads of the Customs and Tax Authority
» The Iraqi Stock Exchange opens its markets at a price of 152,800 dinars for every 100 dollars
» Warning of Iraq losing political and economic independence due to “energy imports”: Shameful
» Al-Sudani directs to stop the tax increase related to the transfer of real estate ownership
» Iraqi per capita income to decline by 22.4% in 2023
» Global companies to revive stalled factories in Babylon
» Iraq's oil exports to America rise
» Ministry of Oil: We export 1000 tons of jet fuel daily
» “To protect its airspace”.. Does Iraq have an advanced “defensive” missile system?
» Iraq secures the skies clouded by the occupier's aircraft and reduces the area of the violated air
» Parliamentary committee reveals reasons for reducing the region's oil production by half