Al-Sudani receives a delegation from JPMorgan Bank⁠link ⁠to see this article in full and more go to:⁠ My FX Buddies Blog⁠Prime Minister Mr. Mohamed Shiaa •••••••••• Today, Thursday, the Prime Minister, Mr. Mohamed Shayaa Al-Sudani, received a delegation from JPMorgan Bank, which included Messrs. Daniel Zeliko, Deputy Director of the Bank, and the Director of the Bank's Public Sector Group in the Middle East, Ghali Laraki.During the meeting, support for the banking sector, the Central Bank of Iraq and the private sector was discussed. International trade, risk management and expansion of non-oil revenues were also discussed, which is one of the government's most important priorities, which it is working on as part of its plans for financial and administrative reform.The Prime Minister referred to the role of JPMorgan Bank in establishing the Trade Bank of Iraq (TBI), which is today the commercial banking window of Iraq to the world, stressing that Iraq is on the verge of a major reconstruction movement in all sectors.

The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper moneyThe Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money⁠link⁠ to see this article in full and more go to: ⁠My FX Buddies Blog ⁠The Central Bank of Iraq announced that Cabinet Resolution No. (23044) for the year 2023 has entered into force, represented by increasing the number of electronic payment devices (POS), which are used as of today, the first Thursday of June, in government institutions and the private sector to promote a culture of electronic payment and collection Reducing the use of paper money in collection and commercial transactions.And the Central Bank of Iraq confirmed, in a statement today, that it has been going for years to provide this service in accordance with its powers, and in compliance with the decision of the esteemed Council of Ministers, as it has started since the beginning of this year to expand the scope of work, hold workshops and launch incentive initiatives to implement financial inclusion and enhance the use of electronic payment by the citizen. They are located in the ministries, agencies, and departments of the state that work with collection and financial collection, such as the Ministry of Interior, Electricity and Oil, the Housing Fund, the Municipality of Baghdad, and the Ministry of Commerce.

Government advisor: The parallel dollar will approach the official rate within 10 dayslinkA government advisor confirmed, on Tuesday, that the parallel market for selling the dollar will witness a new decline during the next ten days and will come closer to the official price, indicating that transfers are currently taking place in an easy and accurate manner, after the agreement with the American side. According to local stock exchanges, the parallel market exchange rate for yesterday was 1440 dinars to one dollar. The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, "The elaborate measures taken by monetary policy in Iraq have become clear at the present time." Saleh added, "The price turmoil of the dollar began since the adoption of the electronic platform to pre-check remittances." He pointed out that "remittances constitute 80% of the demand for foreign currency," noting that "the level of sale ranged between 180 to 200 million dollars." Salih stressed that "Iraqi banks have adapted today by complying with the electronic platform," noting that "transfers have become easy."

Governor of the Iraq Central Bank: We are on alert to control the exchange rate of the dinarlink this came from kurdish newsToday, Thursday, the governor of the Central Bank, Ali Al-Alaq, stressed the government's commitment to not reaching the dollar's exchange rate to countries with which the United States prohibits dealing in the American currency, pointing out that Iraq is on alert to control the dinar's exchange rate. Al-Alaq said in a press statement on the sidelines of the meetings of the World Bank and the Monetary Fund in Washington, reported by "Bloomberg" and viewed by NRT Arabia, that "the American requirements for controlling transfers do not classify them as restrictions, but rather all that is required is the application of the money laundering and combating terrorism law." He added, "We are on alert in the central bank to control the exchange rate of the dinar," explaining that "this problem is not related to an internal financial crisis, but rather related to pre-audit procedures for external transfers of hard currency."

A rapid decline in dollar prices in Baghdad and Erbil ⁠link⁠ to see this article in full and more go to: ⁠My FX Buddies Blog⁠The exchange rates of the US dollar against the Iraqi dinar continued to decline today, Sunday, in the main stock exchange in the capital, Baghdad, and Erbil, the capital of Kurdistan Region.News agency reporter said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad continued trading after the closing, and recorded at 11:40 at night 141,000 Iraqi dinars for 100 US dollars.While the prices this morning were 147,950 dinars for 100 dollars.Our correspondent indicated that the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, as the selling price reached 140,000 Iraqi dinars for every 100 US dollars, while the buying prices amounted to 142,000 Iraqi dinars for every 100 US dollars.

Detection of printing a cash denomination worth 20,000 Iraqi dinars⁠link⁠ to see this article in full and MORE go to: ⁠My FX Buddies⁠The Deputy Governor of the Central Bank of Iraq announced the start of printing new money in the category of 20,000 dinars at the end of this year or early next year. The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, in a press interview, that "the central bank continues the procedures for printing money in the category of 20 thousand dinars, the process is taking place outside Iraq, and it is expected to pump the new currency category into the markets at the end of 2023 or early next year." The move comes by the Central Bank of Iraq, in conjunction with the inflation rate in the country, according to the statistics of the Ministry of Planning, to 7.2 percent.