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Iraqi Prime Minister Accepted Suggestions of CBI in Crisis Cell Meeting

Iraqi Prime Minister Accepted Suggestions of CBI in Crisis Cell Meeting

The Iraqi Prime Minister Haider Al Abadi confirmed the importance in maintaining the Iraqi dinar exchange rate against the U.S dollar in the Iraqi domestic market and the confusion factors of any execution that are not interconnected by tangible conditions. The crisis cell agreed under his chairmanship on the suggestion of deletion of 8 percent by the Iraqi Central Bank, it stand for transfer of funds for customs and taxes. Abadi further said in his statement that a meeting of…

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Iraq Losing Billion Dollars Per Year to Stabilize the Exchange Rate

Iraq Losing Billion Dollars Per Year to Stabilize the Exchange Rate

Dr. Nabil Jaafar Professor of economics in Basra University said that the current rise in the U.S dollar against the Iraqi dinar is due to one of the wars that faced by the Iraq and most of the experts says that one day the Iraqi dinar will be able to fight against the U.S dollar because the Iraqi Central Bank has handsome reserves. These reserves will be used as a weapon to save the Iraqi dinar currency and to maintain…

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CBI Not to Sell Hard Cash to Private Banks: Al Shammari

CBI Not to Sell Hard Cash to Private Banks: Al Shammari

On Wednesday, a member of the National Coalition in the House of Representative MP Kazem Al Shammari issued a statement that Iraqi Central Bank should stop the hard currency sale to private banks and to turn them into governmental banks. He also warned about the presence of Mafias in picking the U.S dollars from the import bills of fake goods, which caused a burning impact on the market and resulted as the downfall in the Iraqi dinar exchange rate in…

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Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

A press statement issued by the Iraqi Finance Ministry that a meeting was conducted by the Iraqi Finance Minister Hoshyar Zebari along with his delegation in the presence of Sheikh Safa Deputy Adviser of Iraqi National Security in Turkey, to discuss with Fitch and Rodez credit rating International. Iraq is looking to get hold for an international credit rating in order to issue self-governing bonds for the improvement and increasing in development of the investment volume. This meeting held to…

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U.S Dollar will Come Back to Its Normal Position: Najiba Najib

U.S Dollar will Come Back to Its Normal Position: Najiba Najib

A member of the Iraqi Finance Committee Najiba Najib said in an interview with press that the U.S dollar price would go back to its previous prices and will be reached at 1200 Iraqi dinars per U.S dollar. She further added that the Iraqi Central Bank should take some extra measures and implement its monetary policy to strengthen the Iraqi dinar in the local and international market. Najiba Najib further added in her interview that we should eliminate all the…

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Assets of Iraqi Dinar Currency Dealers to Seize

Assets of Iraqi Dinar Currency Dealers to Seize

The Federal Authorities are looking to seize all transferable and non-transferable properties from the Georgia based corporation that is dealing in Iraqi dinar currency. The prosecutors said in federal complaint that Atlanta based Sterling Currency Group LLC is one of the largest group selling the Iraqi dinar currency in the United States. The prosecutors said that the business of Georgia based group is based on what they mentioned is a scam used to defraud investors for giving guarantee of revaluation…

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CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

On Thursday, the Iraqi Banks Association issued a press statement that the Iraqi Central Bank has approved to bring in all 14 banks which were left out in cold for currency auction. The statement also indicated that the Central Bank of Iraq has implemented most strict terms and conditions. The Executive Director of the Association Dr. Tariq issued a press statement that the Central Bank of Iraq has taken a decision about few days ago and stopped the 14 Iraqi…

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Rasheed Bank Announced to Cover Imports for Companies and Individuals

Rasheed Bank Announced to Cover Imports for Companies and Individuals

On Wednesday, Rasheed Bank announced that the launching of imports identifies individuals and companies dealing in foreign currency service. The General Director of Rasheed Bank Abdel Wahab Abdul said in his press statement that this major step has been taken to provide support for our economy by managing the commercial activities of the traders. The Rasheed bank is looking to pay the value of imported goods from foreign countries and their currencies. Rasheed bank’s General Director Abdel Wahab further added…

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