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 of software from UK-based Finastra.

Additionally, both NBI and Capital Bank of Jordan have successfully implemented Transact, a core banking solution from British company Temenos.

Temenos' Payment Hub will also replace the legacy systems at NBI.

Sudanese Advisor: Exchange rates will reach 135 thousand per 100 dollars soon

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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 devoted to following up on the financial and economic transformation to electronic payment, points of sale and financial trading with electronic cards (POS), in the presence of the Governor of the Central Bank and the Prime Minister’s advisors.” For strategic, economic and banking affairs, and Director General of Payments at the Central Bank.”

Central Bank of Iraq: Decisions to support the dinar against other currencies... soon

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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 electronic platform. Central Bank of Iraq: Decisions to support the dinar against other currencies... soon

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 “ Raise Your Voice ” that “her salary ranges between 1,500 and 2,000 US dollars, depending on the work she performs, but what the bank disburses to her does not exceed 1,000 dollars, which is a very small amount that is not sufficient for all of her monthly expenses, represented by house rent and school tuition.” Bills and transportation

Iran announces the start of settling its country's exports to Iraq in its national currency, the riyal

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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 Farzin explained that the issue of settling Iranian exports via the riyal currency outside the borders has been studied by the Central Bank for several months, and that its entry into force will address the requirements of exporters to Iraq and Afghanistan.

An economist speaks passionately about the fate of the “ancient” Iraqi dinar against the dollar

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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 dollar due to a statement (a foreign ambassador), and then declines the next day due to (military strikes) here or there, cannot be considered a cohesive currency or capable of... Preserving value, but the problem is not with the currency, but rather with those who work in its name.”

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

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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 spending for 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,” pointing out that “the economic situation is recovering.” But very slowly due to accumulations extending over years.”

New Guides to Investment in Kurdistan Region of Iraq

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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 doing business in the region.
• Investment Guide: This guide introduces the region to investors and highlights investment opportunities in several key sectors

2024 Is it the year of economic rescue For Iraq?

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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 is summed up (that expectations are based on indicators) occurring on the ground regarding economic phenomena, whether negative or positive.Hence, our expectations for the year 2024 are determined based on our assessment of the indicators for the year 2023.The achievement achieved during the past year (2023) falls within a realistic assessment of attempts at economic reform that is acceptable compared to the size of The challenges and problems that the economy is suffering from are a positive indicator according to this perspective. However, the ambition is to raise the economy to an average level during this specific period in order to keep pace with global development. In any case, it is an encouraging step. One of the indicators that makes us somewhat optimistic is that the steps of the government team in this field are beginning to become clear, although they are very slow due to the size of the problems

The Iraqi dinar is a national issue ... Again

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Your purchase in dinars enhances the ability to achieve sustainable development see the ad they are running on tv

Encouraging the local currency and dealing with it in light of the current economic conditions that the country is experiencing is an important issue, especially with the government’s intention to “strengthen” the Iraqi dinar against other hard currencies, especially the dollar, as well as seeking to present it first in order for it to be a “homeland issue” in a way. Real. In the government’s will to encourage dealing in the dinar in all daily transactions,