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Iraqi News Highlights Tuesday Morning 8-8-23

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The tripartite budget instructions come into effect after being published in the Iraqi Gazette

Yesterday’s politics, 15:26  Baghdad – conscious Today, Monday, the Iraqi Al-Waqa’i newspaper published the tripartite budget instructions that have entered into force.

“The instructions of the tripartite budget law have been published in the Official Gazette,” Hanan Munther Nassif, Director General of the Iraqi Facts, told the Iraqi News Agency (INA).  She added, “The instructions have entered into force.”    https://www.ina.iq/191045–.html

Baghdad Trade Praises A Procedure For The Iraqi Trade Bank: Curbing The Rise In The Price Of The Dollar

Economy      Iraqi Trade Bank     Sell the dollar     Small merchants  2023-08-07 Shafaq News/ The Baghdad Chamber of Commerce confirmed, on Monday, that the move of the Trade Bank of Iraq (TBI) prevented the rise in the price of the dollar, while it indicated that 90% of consumer goods are imported.

The head of the Chamber, Firas Al-Hamdani, said, in an interview with Shafaq News agency,

“The Iraqi markets are completely affected by the dollar, because 90% of consumer goods are imported, and therefore the high price of the dollar results in price inflation.”  He pointed out that

“the Iraqi government is serious about controlling the price of the dollar and

has taken a positive step by authorizing the Central Bank of Iraq to the Trade Bank of Iraq (TBI) to sell the dollar at a price of 1320 Iraqi dinars to small merchants for import purposes

without the requirement to submit the fundamental documents that belong to companies except for its affiliation with the Chamber of Commerce.” or has a commercial record.  He stressed that

“this step limited the rise in the price of the dollar against the dinar and created relative stability in the prices of goods in the local markets, because this matter is linked to the transfer of currency abroad, and

therefore we need the central bank and Iraqi banks to be supportive of the merchant.”  Al-Hamdani pointed out that

“the Iraqi Trade Bank, on July 30, began transferring dollar purchase requests to small merchants (shop owners), amounting to 100 thousand dollars per merchant at a price of 1320 per dollar, through banks directly without the need to participate in the electronic platform of the Central Bank.””.

https://www.shafaq.com/ar/اقتصـاد/تجارة-بغداد-تشيد-ب-جرا-للمصرف-العراقي-للتجارة-كبح-ارتفاع-سعر-الدولار

Meeting In The Ministry Of Finance On The “Unified Treasury Account”

Economy     2023-08-07 | 2,070 views Today, Monday, Finance Minister Taif Sami Muhammad chaired a meeting to discuss the requirements for designing and implementing the unified treasury system.

A statement from the ministry, received by Alsumaria News, stated that the minister “chaired a meeting today, in the presence of the Director General of Accounting, the head and members of the committee supporting the application of the unified treasury account, representatives of government banks, representatives of the Office of Financial Supervision, the Central Bank of Iraq and the Iraqi Trade Bank, to discuss the requirements for designing and implementing the unified treasury system.”

The meeting discussed “plans to reform the public finance sector through the application of the unified treasury account, which represents a qualitative leap in the management of public funds, as the project will allow the possibility of monitoring the movement of funds and their safety.”

Sami stressed, “The need to continue the ministry’s efforts through the committees formed for the purpose of implementing the system to complete the steps of the project, which represents one of the pillars of developing the ministry’s policy towards reforming the financial sector and the optimal implementation of the stages of the unified treasury account project.”

https://www.alsumaria.tv/news/economy/463948/اجتماع-في-وزارة-المالية-حول-حساب-خزينة-الموحد

Announcement Of An Auction Of Islamic Deposit Certificates

August 07, 2023  We would like to inform you that the Islamic Deposit Certificates Certificates (ICD119) has been announced and in the period of (14) days and

the date of implementation of the auction will be on Sunday, 20/8/13/1923, and according to what was published in the Central Conservation System CSD, and that

Islamic banks can participate since the date of the date Spreading the advertisement until the day of implementation.   https://cbi.iq/news/view/2398

Prime Minister: The Government Is Serious With All Its Apparatus In Working To Make Iraq An Ideal Investment Environment

Politics 6-08-2023, Baghdad – conscious  Prime Minister Muhammad Shia al-Sudani affirmed today, Sunday, that the government is serious with all its apparatus in working to make Iraq an ideal investment environment.

The media office of the Prime Minister said, in a statement received by the Iraqi News Agency (INA), that

“Prime Minister Muhammad Shia’a Al-Sudani reviewed, today, the initial plans and the overall drawings for the project to build a large tourist complex in central Baghdad, which was submitted by the specialized Qatari Investment Holding Company.” Real estate development and investment in tourist destinations.

The Prime Minister confirmed, during his review of the plans and models, that

“the government is serious with all its agencies in working to make Iraq an ideal investment environment that attracts capital, in a way that enables the Iraqi economy to open up and bridge interdependence with the global economy,” noting that

“this will be reflected locally in creating opportunities.” Work, and open more windows for development.

And the Council of Ministers had approved, in its last session, which was held on the first of August, to proceed with the project,

which will include the construction of a hotel, the latest in the capital, Baghdad, a chain of international restaurants, and presidential halls for local and international official events, in addition to a number of

vertical housing units, with designs inspired by The history and civilization of Mesopotamia, on an area of 19 dunums, to be opened before 2025.   https://www.ina.iq/190995–.html

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