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Government advisor explains reasons for high exchange rate in Iraq link The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, revealed today, Saturday, the reasons for the rise in the price of the dollar in local markets. Saleh said in an interview with "Mil" that "the secondary exchange market in Iraq witnessed price deviations that exceeded the official exchange rate by about...

The government completes the file to join “WTO” link to My FX Buddies Blog After the important steps and achievements made by the government in more than one file and sector, it was the turn to address the world and confirm that Iraq has  become an economic power that should not be underestimated ,  and has all the qualifications and capabilities to join the World Trade Organization (WTO) after co...

Most Iraqi private banks closed, fears of liquidity crisis amid citizens’ anger link T he Ministry of Finance and Economy of the Kurdistan Regional Government announced on Sunday that the salaries of some Sulaymaniyah employees have been deposited into their bank accounts. A statement by the ministry explained that many employees received text messages stating that their salaries had become availa...

  Iraq launches financial transfers in euros link to My FX Buddies Blog The Central Bank of Iraq launched its financial transfers to Turkey in the euro currency. This was announced during the reception of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, with a delegation of representatives of Turkish banks operating in...

The expected path of the Iraqi economy link to My FX Buddies If you'd like to support me: https://www.paypal.com/paypalme/tishwash In order to build our expectations about the path of the Iraqi economy, we must read and analyze the indicators to complete the picture of the future of the Iraqi economy. The broad and long-term package of decisions and measures that the government has taken and is st...

Al-Sudani returns to Baghdad after concluding his participation in the UN meeting link to My FX Buddies Blog Prime Minister Mohammed Shia Al-Sudani arrived in the capital, Baghdad, after concluding his participation in the 79th session of the United Nations General Assembly in New York.  He delivered the speech of Iraq, and held a series of meetings, dialogue sessions, and press interviews.

Iraq is close to completing its financial transfers electronically.. and the US Treasury reveals its economic growth rate link The Prime Minister confirmed, according to the statement, that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% will be completed by the end of th...

Central Bank of Iraq launches Financial Sustainability Map Project link to My FX Buddies Blog He added, "If these standards are important for any economic entity or company, regardless of its activity, mission and products, then their importance to the financial sector is a matter of utmost importance, given the significant impact that social and environmental changes have on the reality of t...

Al-Alaq: We are constantly reviewing the deletion of zeros from the dinar, and there are no restrictions on our balances in America Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable. Al-Alaq c...

Al-Sudani heads to New York to participate in UN General Assembly meetings link to My FX Buddies Blog Prime Minister Mohammed Shia Al-Sudani will head to New York tomorrow, Saturday, to participate in the meetings of the 79th session of the United Nations General Assembly . Al-Sudani's media office said in a statement received by "Baghdad Today" that the latter "will leave tomor...

It's no longer useful" .. Al-Sadr cancels "expected million-man demonstrations" in Baghdad link to My FX Buddies Blog Al-Sadr said in a tweet on the (X) platform: “After the Zionist recklessness and terrorism in Palestine and Lebanon, with the public cover of the great evil America, and their failure to respond to international resolutions and humanitarian appeals, and their dis...

Apple suggests phone registration initiative as a part of Iraq's digital transformation link to My FX Buddies Blog Al-Sudani highlighted Iraq’s ongoing shift towards a digital economy, noting that the High Committee for Digital Transformation, which he chairs, is driving this effort. "Iraq is experiencing significant changes in the digital sphere," he said, adding that the country ha...

Dollar crisis: Changing exchange rates will create “huge problems” and smuggling is led by a “deep state” link Al-Tamimi told Baghdad Today, "The  money market is suffering from major challenges and is exposed to tremors at any moment, especially since the ability to control it is limited in most areas, with the continued smuggling of the dollar, which has become a lifeline for names and enti...

2024 Budget: A Sloping Path to Rolling Hopes link to My FX Buddies Blog The draft general budget law is “the legislative authority’s approval of the general budget, i.e. its approval of the government’s expectations for public expenditures and revenues for the coming year and its approval thereof in a manner that authorizes the government to disburse appropriations within the specified limits in t...

 A word from Al-Sudani at six o'clock last evening link Al-Sudani said in his televised speech, addressing the Iraqi people: “Direct discourse is our permanent approach to building trust with you,” indicating that “the government was formed in circumstances that are still evident in the memory of the recent past and the political intersections that preceded it and the absence of a comprehensiv...

The Central Bank of Iraq reveals the mechanism for ending the electronic platform link to My FX Buddies Blog he bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them...

With our dinar and our products we are stronger... Support the Iraqi dinar link to My FX Buddies Blog With our dinar and our products we are stronger... Support the Iraqi dinar they are running this commercial again! We made it easier and faster with electronic payment services Learn about the advantages of electronic payment in Iraq

Central Bank discusses in Washington the re-integration of banks banned from the dollar link to My FX Buddies Blog The Central Bank issued a statement, seen by "Ultra Iraq", regarding the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to the United States of America, in which he said that the delegation discussed the use of electronic payment card...

The Central Bank of Iraq announces the results of its visit to New York: A high-level delegation negotiated with the US Treasury The Cent ral Bank of Iraq confirmed in a statement received by Shafaq News Agency that a high-level negotiating delegation headed by Governor Ali Mohsen Al-Alaq held a series of intensive meetings in New York City, USA, which included discussions with the US Treasury Dep...

"Two conditions to achieve it" .. Al-Sudani's advisor rules out removing 3 zeros from the currency link to My FX Buddies Blog The Prime Minister's financial advisor, Mazhar Mohammed Salih, ruled out the government removing three zeros from the Iraqi currency at present, noting that achieving this requires two basic conditions. Saleh said in a statement reported by the Rudaw media...

Soon Resumes Investigation into Changes Made to the General Budget Law tables link to My FX Buddies Blog The Parliamentary Finance Committee confirmed that it will soon resume its investigation into changes to the general budget law tables that were officially approved by the Council of Representatives, and objected to by the Prime Minister's Office. Committee member, MP Moeen Al-Kazemi, said...

Is Iraq heading towards printing new paper currency? link to My FX Buddy Blog Committee member Moeen Al-Kazemi said in a statement followed by "Al-Eqtisad News":  "There is no intention to print new paper currency at the Central Bank, " noting that "the Ministry of Finance began funding ministries and governorates with salaries two days ago." He added that "the c...

Iraq's top court rejects lawmaker's challenge to budget approval link to My FX Buddies Blog In a statement to Shafaq News Agency, al-Maliki explained that the court justified its rejection by citing a lack of jurisdiction to hear the appeal in its current form against the parliamentary decision. “The court seems to be suggesting that the challenge should be filed directly against the budge...

Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold link to My FX Buddies Blog The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when...

Has the spark ignited in the Iraqi dinar and the near-total collapse? link Economic expert Mustafa Hantoush said today, Saturday, that the current thinking about changing monetary policies for the next stage is incorrect, regardless of the people who will be nominated for the position of governor. Hantoush told the news agency, “Iraq is currently going through a phase of almost complete collapse i...