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Iraqi News Highlights Wednesday Afternoon 8-16-23

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Al-Alaq: The Central Bank Is Waging A “Battle” Against Dollar Smugglers

Wednesday 16 August 2023 16:53 | Economical Number of readings: 293  Baghdad / NINA / – The Governor of the Central Bank, Ali Al-Alaq, confirmed that Iraq has made great strides in applying restrictions on the supply of US dollars, but it is facing an uphill battle with a banking system that is not accustomed to strict control and permanent currency smugglers.

“It is really a battle because the beneficiaries of this situation and those affected (from the new measures) will try in various ways to continue their illegal activities,” Al-Alaq said in an interview with Reuters, adding

that he “has no data on the amount of Iraqi dollars that have been smuggled to Iran or other neighboring countries.” , including Turkey and Syria, before the United States tightened regulations in November.”

Al-Alaq explained that “Iraq’s reserves are more than $100 billion, but it cannot freely intervene in the market to reduce the price due to the restrictions.”

He pointed out, “There are always side effects, but at the same time we have a responsibility to protect the interests of the country by trying to find the necessary means of monitoring and supervision so that we do not expose the country to any issues on this front.”The bank’s governor pointed out that “it is a feature of the informal economy to an extent.

” Kabir, the system has been used by thousands of small companies that are not registered with the state, a phenomenon widespread in Iraq that allows them to evade taxes and customs fees.”/ End 8

Central Bank: Price Inflation In The Markets Decreased From 7% To 5%

Money  and business  Economy News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, confirmed, on Wednesday, the facilitation of tax and customs procedures for merchants, which will be announced soon, indicating that price inflation in the markets decreased from 7% to 5%.

Al-Alaq said, during his meeting with a number of journalists, that “the government’s measures and recent instructions contributed to persuading small merchants to adhere to the platform.”

He added, “The talk about the entry of 14 foreign banks into Iraq is incorrect,” pointing out that “the banks that have correspondent banks have a sound, official, and easy status of foreign transfers.”

And the governor of the Central Bank stated, “The percentage of remittances to China reached 30%.”

Views 75   08/16/2023 –

The Price Of The Dollar Rose In Baghdad With The Closing Of The Stock Market

Economy  Wednesday, August 16, 2023 Baghdad / The National News Center  The prices of the US dollar rose against the Iraqi dinar, today, Wednesday, in the Baghdad markets, with the closing of the stock exchange.

A correspondent for the National News Center said, “The dollar prices rose with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, to record 153,300 Iraqi dinars against 100 dollars.”

He added, “The selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 153,500 dinars, while the purchase price reached 152,500 dinars for every 100 dollars.”

The US Ambassador Hosts Businessmen And Talks About Intellectual Property In Iraq

Political  | 01:47 – 08/16/2023  Baghdad – Mawazine News  hosted the US Ambassador to Iraq, Ilia Romansky, Iraqi businessmen to raise awareness of the importance of intellectual property in Iraq.

Romansky said in a tweet to her: “Entrepreneurs need an environment that protects intellectual property in order for their ideas to succeed. Foreign companies are looking for work environments in which intellectual property is respected.

Today I hosted the Intellectual Property Forum, in the presence of about 80 Iraqi and American businessmen to raise awareness of the importance of property ownership.” Intellectualism in Iraq.”


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