My FX Buddies

Iraq continues its efforts to gain membership in the World Trade Organization ⁠link⁠ The Ministry of Commerce confirmed the government's aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq's accession file, noting that his recent visit to Baghdad contributed to addressing a number of important file...

Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq link The media office of the Chairman of the Finance Committee stated in a statement received by the Iraqi News Agency (INA), that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative m...

The disappearance of 1.2 trillion dinars.. ⁠link⁠ Data from the Central Bank of Iraq shows a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023, while Al-Sumaria News concluded, through a historical review of the printed currency, that this decrease in the amount of currency is the third largest decrease recorded in 20 years.  &n...

Prime Minister: The importance of the partnership between Iraq and the United States ⁠link⁠ The Prime Minister stated, according to a statement, a copy of which {Al-Furat News} received, "the importance of the partnership between Iraq and the United States, stressing the transition to a bilateral relationship governed by the strategic framework agreement between the two countries, after completing...

The President of the Republic: Iraq has an opportunity to be one of the most advanced countries in the region ⁠link⁠ The President of the Republic, Abdul Latif Jamal Rashid, confirmed: “Iraq has an opportunity to be one of the most advanced countries in the region.” The media office of the President of the Republic stated in a statement: “The President of the Republic, Abdul Latif Jamal Rashid, re...

An international desire to invest in Iraq and three countries hold meetings in this regard link Thursday, Trade Minister Atheer Al-Ghurairi revealed a wide welcome and international desire to increase investments inside Iraq, while confirming the holding of meetings with 3 countries in this regard. During his participation in the 113th session of the Economic and Social Council, which was held at...

Electronic payment... Money is hoarded in homes and education is not at the required level ⁠link⁠ to the MYFX Buddies Blog Not long ago, Iraq took the first steps towards attempts to activate the  ⁠electronic payment⁠  system . These steps began by localizing employee salaries, and then installing  ⁠electronic payment devices⁠  in several places, including gas stations. However...

Senior Congress and Pentagon officials met. The Kurdistan Region Presidency delegation link The Presidency of the Kurdistan Region announced today, Saturday, that its delegation concluded its visit to the United States of America after holding a series of meetings and encounters with senior government officials in America. The Presidency pointed out that its delegation received America’s assurance...

Senior Congress and Pentagon officials met. The Kurdistan Region Presidency delegation link The Presidency of the Kurdistan Region announced today, Saturday, that its delegation concluded its visit to the United States of America after holding a series of meetings and encounters with senior government officials in America. The Presidency pointed out that its delegation received America’s assurance...

Al-Alaq: All importers and traders can obtain the dollar at the official rate ⁠link⁠ This episode contains a hodgepodge of news that happened last week up until today. I've been away but I'm back. According to Iraqi and American officials, Iraq prevented 14 banks in July 2023 from conducting dollar transactions as part of a broader campaign aimed at reducing the smuggling of dollars into Iran thro...

Prime Ministers that Iraq will not be an arena for conflict and are pursuing banking reform ⁠link⁠  "The two presidents discussed the developments taking place in Iraq and the region," noting that they "stressed the importance of Iraq not being an arena for conflict, and the necessity of working to perpetuate everything that preserves the country's sovereignty, stability, and security."

Al-Nusairi identifies the causes of exchange rate fluctuations and recovery measures link Advi sor to the Iraqi Private Banks Association, Samir Al-Nusairi, identified the reasons for the fluctuation of the exchange rates of the Iraqi dinar against the dollar in the local market as a lack of control over the regulation of trade financing internally and externally and the lack of a clear trade poli...

Parliamentary Economy indicates the risks of the “parallel market”: “important” sessions with the Central Bank next week ⁠link⁠ The Parliamentary Economics Committee pointed out the dangers of the “parallel market,” while revealing “important” sessions with Central Bank of Iraq officials next week in order to coordinate and support the market. Parallel market risks Today, Tuesday (January 23, 2024...

Al-Sudani: We are facing a new Iraq economically link Al-Sudani: We are facing a new Iraq economically Prime Minister Muhammad Shiaa Al-Sudani in the dialogue session within the work of the Davos Economic Forum held in Switzerland: The Iraqi people emerged victorious over the adversities that faced the country over the past years We are trying to take steady steps in the areas of providing job opp...

Maintaining the exchange rate... Parliamentary Finance determines the variables of the 2024 budget ⁠link⁠ Today, Wednesday, the Parliamentary Finance Committee confirmed t hat the exchange rates of the dollar and a barrel of oil will be maintained in the budget for the current year 2024. Committee member, MP Hussein Moanis, said in a statement to Al-Maalouma, “The government kept calculating the p...

A precise breakdown of monetary policy in Iraq link The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Sunday, the mechanism of monetary policy in Iraq. Saleh said {to Al-Furat News} that: “The monetary policy works to ensure that the price of the dollar in the parallel market is close to the nominal price through procedures and measures by using its...

UK Firms introduce new Banking Systems at National Bank of Iraq ⁠link⁠ you can look each one of these up and see what they do too The National Bank of Iraq (NBI) has announced the introduction of three new banking systems. According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help o...

Sudanese Advisor: Exchange rates will reach 135 thousand per 100 dollars soon link Prime Minister Muhammad Shiaa Al-Sudani stressed today, Sunday, the importance of using electronic card payments, while noting that it is a basic pillar of economic reform. The Prime Minister’s Media Office stated in a statement received by Earth News, “Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting devot...

Central Bank of Iraq: Decisions to support the dinar against other currencies... soon link Today, Friday, the Central Bank of Iraq revealed anticipated measures and decisions to support the dinar and maintain its strength against other currencies, and other measures that will positively affect the exchange rate, while indicating that it has taken measures in the field of gradually ending the elect...

From the dollar to the dinar... Iraqis complain about the deterioration of their salaries link “I have been waiting for about four months to receive my full salary from the bank, but every time I receive half of it and have to wait two or three weeks until I receive another payment,” says Sakar Mustafa, an Iraqi journalist who works independently with international institutions. She explains to “...

Iran announces the start of settling its country's exports to Iraq in its national currency, the riyal link The Governor of the Central Bank of Iran confirmed the start of a project to settle the country's exports abroad in the national currency, the riyal. On the sidelines of the meeting of the Government and Private Sector Council in Khorasan Razavi Province (northeastern Iran), Muhammad Reza Fa...

An economist speaks passionately about the fate of the “ancient” Iraqi dinar against the dollar link Economic researcher, Ziyad Al-Hashemi, said on Tuesday that the Iraqi government and the central bank have exhausted and weakened the value of the Iraqi dinar in a difficult journey with the dollar. Al-Hashemi stated in a post on the “X” platform, that “ the currency that rebounds against the dolla...

Iraq in the year 2024 may exceed the current year, amid expectations of an increase in the exchange rate with the launch of more than 1,300 service projects nationwide link Member of the Parliamentary Finance Committee, Mudar Al-Karawi, identified three factors that control Iraq’s budget for the year 2024. Al-Karawi said in a press interview seen by “Taqaddam” that “the volume of actual and total...

New Guides to Investment in Kurdistan Region of Iraq link The Kurdistan Regional Government (KRG) has issued two new guides to investment in the Kurdistan Region of Iraq (KRI): Doing Business In Kurdistan Region: This guide has been prepared to provide an overview of the KRI, it's economy and way of life, and introduces the financial, legal, and tax issues that are important for those considering...

2024 Is it the year of economic rescue For Iraq? link A few days and a page in the life of time has turned. A year of attempts to correct the blurry picture of our national economy ends, to be followed by a year that we hope will be a year of rescue. Economic from the structural distortions that afflict the Iraqi economy. The axiom that we economists rely on in our readings of the economic scene i...