The Governor of the Iraqi Central Bank reveals the amount of the bank’s reserves of dollars and gold

Shafaq News / The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed the amount of the bank’s reserves of US dollars and gold.

Al-Alaq told the CNBC Arabic website that the Central Bank has a foreign reserve of more than 100 billion dollars, indicating that the bank’s gold reserves amount to more than 130 tons, most of which are located in England.

Speaking about Iraqi foreign trade, Al-Alaq pointed out that the volume of trade with the UAE amounts to 17 billion dollars and is paid in UAE dirhams, pointing out that the First Abu Dhabi Bank is the one responsible for the trade transfers in UAE dirhams.

Shafaq.com

During Erdogan’s visit to Baghdad, approximately 40 memorandums of understanding will be signed between Iraq and Turkey

Shafaq News / Informed sources said on Sunday that dozens of memorandums of understanding in various aspects will be signed between Baghdad and Ankara during Turkish President Recep Tayyip Erdogan’s visit to Iraq scheduled for tomorrow, Monday.

The sources told Shafaq News Agency that during Erdogan’s official visit to Baghdad, which will begin tomorrow, about 37 multifaceted memorandums of understanding will be signed.

She added that one of the most important memorandums is the strategic framework memorandum for cooperation between the two countries, from which five committees and agencies are divided: security, water, economic, energy, and transportation.

The Iraqi ambassador to Ankara, Majid Al-Lajmawi, confirmed yesterday, Saturday, that the visit of Turkish President Recep Tayyip Erdogan to Baghdad will contribute to resolving the outstanding issues between the two neighboring countries, and will witness the signing of a strategic framework agreement.

Turkish Defense Minister Yasar Guler announced last Wednesday that President Recep Tayyip Erdogan will make an official visit to Iraq tomorrow, Monday, which is his first visit since 2011.

Turkish President Recep Tayyip Erdogan had previously confirmed that the water issue would be one of the most important items on his agenda during his visit to Iraq, while he hinted at visiting Erbil after Baghdad.

Erdogan indicated that Turkey is studying requests submitted by the Iraqi side regarding water, stressing that they will seek to solve this problem with them, adding: “They want us to solve it and our steps will be in this direction, and there are also issues related to the flow of natural gas and oil to Turkey, and we will seek to Treat it as well.”

Shafaq.com

Al-Hakim: Al-Sudani’s visit to Washington was a protocol and missed the two most important files

Information / Baghdad… Political analyst Muhammad Ali al-Hakim said that the visit of Prime Minister Muhammad Shia al-Sudani to Washington witnessed the absence of the two most important files related to the American military withdrawal from Iraq and the liberation of the currency from American hegemony.

Al-Hakim told Al-Maalouma, “A lot of attention is turning to the results of the Sudanese visit to Washington and its repercussions on the Iraqi reality, but the political data indicates that the results of the visit and its repercussions are no different from the results of visits of former prime ministers to the White House.”

He added, “The visit did not include delving into meaningful and important files for the Iraqi people, which are considered real crises in the country, as it witnessed the absence of the two most prominent files that Al-Sudani promised to present to the American leaders, which are satisfying the need for foreign forces in Iraq and liberating the Iraqi currency from American hegemony and influence, which made the visit Protocol and political, nothing more.

He pointed out that “the delegation, which exceeds 134 people, is devoid of political security figures or military ranks, whether the Minister of Defense, the Minister of the Interior, the Chief of Staff of the Army, or the National Security Advisor, which suggests that the discussion of the international coalition’s mission in Iraq and the exit of American forces was not present.” During the discussions, it did not take up space from the American side.”

Almaalomah.me

American immunity over Iraqi funds… How did it begin and what does it mean?

On May 22, 2003, former US President George W. Bush issued an executive order to protect the Development Fund for Iraq, in which the proceeds of oil sales were deposited, with the aim of protecting it from any legal prosecution.

After more than two decades, successive US administrations are still renewing this presidential executive order and other orders related to Iraq and aiming to protect its funds.

The current US President, Joe Biden, signed the decree extending the state of national emergency related to the situation in Iraq for another year, which stated: “There are still obstacles to the orderly reconstruction of Iraq, restoring and maintaining peace and security in the country, and developing political, administrative, and economic institutions in Iraq.” .

The statement added that these obstacles “pose an extraordinary threat to the national security and foreign policy of Iraq and the United States of America as well. Therefore, (Joe Biden) has decided that it is necessary to continue the state of national emergency declared under Executive Order 13303 regarding the stability of Iraq.”

What is Executive Order 13303?

The Executive Order is intended to protect the Development Fund for Iraq and certain other properties in which Iraq has an interest.

According to what was stated in the text of the executive order, then US President George W. Bush saw that there was a threat to seize or take other judicial measures against the Development Fund for Iraq and Iraqi oil and petroleum products and the revenues arising from them.

The executive order also stated that this situation “poses an extraordinary threat to the national security and foreign policy of the United States, and therefore a national emergency has been declared to address this threat.”

The order states that any seizure, judgment, decree or other judicial proceeding against the Development Fund for Iraq or Iraqi oil and petroleum products and the proceeds and obligations relating to their sale or marketing shall be null and void.

The Executive Order prohibits all US citizens and residents of the United States, as well as any entity organized under US laws, from filing lawsuits against Iraqi funds.

According to the US National Emergency Law, failure to renew the executive order within a period of 90 days from the date of the previous renewal means that it will become invalid.

Development Fund for Iraq

The Development Fund for Iraq was established after 2003, and before that, money from Iraqi oil sales was placed in an account managed by the United Nations within what is known as the Oil-for-Food Program.

In the mid-nineties of the last century, the UN Security Council resolution related to oil for food was issued and stipulated the sale of a portion of Iraqi oil in exchange for the purchase of medicines and food during the era of Saddam Hussein’s regime, which suffered international sanctions as a result of its invasion of Kuwait in 1990.

This situation continued until 2003, when a new Security Council resolution was issued under which most of the economic sanctions were abolished, provided that issues related to the invasion of Kuwait were resolved, such as compensation, prisoners, and others.

Alforatnews.iq

Central Bank: Forming an Iraqi-American committee to address violations of violating banks

The Governor of the Central Bank, Ali Al-Alaq, announced the formation of a committee with the Ministry of Treasury and the Federal Bank to address and correct the violations of the sanctioned banks.

Al-Alaq said in a press statement, “Washington praised Iraq’s measures in resolving 80% of the financial transfers file,” noting that “the Treasury Department and the Federal Reserve praised Iraq’s measures in the financial transfers file.”

He pointed out that “an international company has developed a road map to develop bank departments and improve their work technically.”

Al-Alaq noted that “the atmosphere of dialogues and discussions in Washington is very positive, and we have begun to enter into the details of the program plan and procedures that will be present soon through a delegation that will visit Iraq.”

Alforatnews.iq

An economic expert explains the reason for the scarcity of the dinar and reveals a “big mistake”

An economic expert explained the reason for the scarcity of the dinar in local markets.

Bassem Jamil Antoine told Al-Furat News Agency, “The scarcity of the dinar is due to the reasons people hoard it and use it for work and trading instead of the dollar and investing it.”

He added, “A process of dollarization of society was carried out, and this is a big mistake, until the public went towards buying property and real estate, and the dinar decreased from the street.”

Antoine continued, “There can be reassurance from citizens if the sanctioned banks are restored and dealt with correctly, and stability will return again.”

Alforatnews.iq

Al-Sudani: Iraq is witnessing a new reality today in the private sector

Prime Minister Muhammad Shiaa Al-Sudani met today, Friday, with an elite group of Iraqi businessmen residing in the American state of Michigan, as part of his official visit to the United States.

The businessmen reviewed their companies’ specializations and businesses, and expressed their willingness to be in Iraq to pursue and participate in investment opportunities available in various sectors and contribute to building their country.

During the meeting, Al-Sudani stressed that Iraq is witnessing a new reality today with regard to the private sector, explaining a series of practical steps taken by the government and the facilities it granted to the private sector. He also pointed out what has been accomplished at the level of financial and banking reform, which has increased the percentage of contracts that comply with the standards. The global rate reached 80% according to reports of international institutions.

He touched on the government’s important projects in the field of the pharmaceutical industry and the housing sector, pointing to the start of establishing new residential cities, which include the construction of tens of thousands of housing units, the job opportunities they provide for young people, and the revitalization of the construction sector and dozens of related professions.

The Prime Minister urged Iraqi businessmen to seize the available investment opportunities and bring production lines to laboratories and factories in various specializations, noting that Iraq’s budget for the three years included, for the first time, providing sovereign guarantees to the private sector, in addition to establishing the Iraq Fund for Development, which will work with this. The sector is implementing vital and important projects, which contribute to moving the wheel of the economy and implementing the government’s vision for sustainable development and a strong and prosperous Iraq.

Alforatnews.iq

The stage is witnessing an important turning point in Iraq’s relationship with the United States

Prime Minister Muhammad Shiaa Al-Sudani confirmed that his current visit to the United States comes to establish the paths of bilateral relations between Iraq and the United States, in a sensitive and delicate circumstance, in addition to the dangerous escalation the region is witnessing that threatens the expansion of the circle of conflict and war.

A statement from his office, a copy of which was received by Al-Furat News, said that Al-Sudani “held a meeting in the American capital, Washington, with a number of representatives and correspondents of American and Western media and news networks.”

Al-Sudani stated that the stage is witnessing an important turning point in Iraq’s relationship with the United States, which has focused, for years, on security and military cooperation, stressing that this visit witnessed the laying of the correct foundations for the transition to comprehensive relations in all sectors and economic, political and cultural aspects, in addition to the security aspects within the framework of cooperation. the couple.

He pointed out that Iraq confirmed its commitment to the outcomes of the Supreme Military Committee concerned with ending the international coalition’s mission in Iraq after 10 years. Iraq today is different from what it was in 2014, and that ISIS gangs no longer represent a threat to Iraq, and it is natural to work to reconsider the coalition and its continuation.

The Prime Minister explained that the second track in joint work with the United States was represented by the first meeting of the Supreme Coordinating Committee of the Strategic Framework Agreement, which dealt with the files of energy, investment, transportation, education, and the challenges of climate change, indicating that the government raised the slogan of Iraq first, and that the sustainable interest requires building solid partnerships. Its existence is not limited to governments or administrations, but rather extends to the mutual interests of the two friendly peoples.

Al-Sudani answered the questions posed by representatives of the American and Western media at the meeting, which concern a number of files, most notably the files of the relationship with the United States and the prospects for cooperation with it, the government’s vision for the future and nature of this relationship, and Iraq’s relations with its neighbors, in addition to files related to developments in events in the region. .

Alforatnews.iq

Iraq signs 18 memorandums of understanding with Washington

Today, Thursday, the Iraqi government signed 18 memorandums of understanding in Washington with American companies to develop the electricity, oil and gas sector and other sectors.

The following are the memorandums of understanding signed with the American side:

1. A memorandum of understanding between the Ministry of Electricity and General Electric Company (GE) in the field of developing the energy sector.

2. A memorandum of understanding between the Ministry of Oil and Hanwell Company, to conclude a partnership in the field of developing strategic plans for oil fields and associated gas.

3. A memorandum of understanding between the Ministry of Oil and General Electric in the field of developing oil fields and associated gas.

4. A memorandum of understanding between the Iraq Fund for Development and the American company MACK for engines and equipment, in the field of manufacturing specialized vehicles.

Second: Memorandums of understanding signed by the Iraqi private sector with American companies:

1. Memorandum of understanding with Baxter International Company for cooperation in the field of dialysis supplies.

2. Memorandum of understanding with the American company KBR to develop oil fields.

3. Memorandum of understanding with KBR in the field of processing primary gas and converting it into liquid and associated gas.

4. A memorandum of understanding between the National Bank of Iraq (NBI) and the American International Financial Development Corporation.

5. Agreement with Trans Atlantic Petroleum Company in the field of developing and managing oil fields.

6. A memorandum of understanding with the American company Hanwell in the field of developing associated gas fields and stopping its burning.

7. A memorandum of understanding with the American company Hanwell for development, automation, and remote control and control services.

8. A memorandum of understanding with the American company Baker Hughes in the field of using smart solutions. To stop burning gas and develop and maintain oil fields.

9. Memorandum of understanding with Emerson Company in the field of technology and automation in oil fields.

10. Memorandum of understanding with GE in the field of supporting the oil industry.

11. Memorandum of understanding with Ark Energy Company in the field of manufacturing associated gas.

12. Memorandum of understanding with Emerson Company in the field of energy development and equipment provision.

13. Memorandum of understanding with GE in the field of providing equipment for treating associated gas in generating electrical power.

14. An agreement with Hanwell Company in the field of developing and maintaining oil fields and stopping gas burning.

Burathanews.com

Iraqi Dinar / US Dollar auction results for today 4-17-2024

Results of the foreign currency selling window for Wednesday 4/17/2024

Advertisement No. (5106)

The amount:

Total amounts of transfers abroad (transfers, credits)
247,254,070

Total cash withdrawals
14,120,000

Total total sales
261,374,070

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction