Continuing Talks Between The Kurdistan Regional Government And The Federal Government To Resolve Outstanding Issues

Kurdistan Region President Nechirvan Barzani discussed on Wednesday morning with Iraqi Parliament member and head of the Azm Alliance parliamentary bloc, Muthanna al-Samarrai, the general situation in the country, in addition to the Kurdistan Parliament elections and relations between Erbil and Baghdad, as well as the upcoming general elections in Iraq.

During the meeting, al-Samarrai congratulated President Barzani on the success of the Kurdistan Parliament elections, according to a statement issued by the presidency of the region.

During the meeting, both sides praised the ongoing talks between the Kurdistan Regional Government and the federal government to resolve outstanding issues, as they agreed that addressing these issues benefits Iraq as a whole and enhances the country's stability.

In another context, the risks resulting from the complex situation in the Middle East region were discussed, as they stressed the need for Iraq not to get involved in regional conflicts and disputes, and to work to spare the country their repercussions.  https://www.radionawa.com/all-detail.aspx?jimare=40009

Al-Alaq: The Volume Of Currency In Circulation Exceeds 100 Trillion Dinars.

Banks   Economy News – Baghdad   103 views  Added 10/30/2024 -- Al-Alaq: The volume of currency in circulation exceeds 100 trillion dinars.   https://economy-news.net/content.php?id=49311

Monetary Policy Price And Reactivation Of Securities
 
October 30, 2024     Based on monetary policy trends to enhance access to targeted inflation rates 
     in a way that does not conflict with expected economic growth rates, and
     is consistent with the policy of developing deposits and increasing credit ratios aimed at targeting projects,  relying thus on following the approach based on data obtained from the banking sector ..

For more click here    https://cbi.iq/static/uploads/up/file-173027681336323.pdf   
 
https://cbi.iq/news/view/2703 
 
~~~~~~~~~~ 
(approximate & incomplete translation of https://cbi.iq/static/uploads/up/file-173027681336323.pdf)  
 
DATE:  30/10/2024  (Population Census... the Pillar of Development)
Exchange Companies for the Art (4)
 
M/ Opening Branches    M/ Monetary policy rate and reactivation of securities
 
Based on the monetary policy orientations in enhancing access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit ratios aimed at targeting projects, relying on the approach based on data obtained from the banking sector, the Board of Directors of this bank decided the following:-
 
1. Reducing the monetary policy rate to be (5.5%) instead of (7.5%).

2. Reactivating securities (Islamic certificates of deposit; traditional transfers) according to an annual plan and with two terms:
     A. Term (14) days with a return of (4%).
     B. Term (182) days with a return of (5.5%).

3. The maximum investment limit shall not exceed (50%) percent of the total private sector deposits at the bank, which are sent to the Open Market Operations Office via the weekly liquidity management form within the system (BSRS), where data received two weeks before the auction implementation date will be approved. In case the bank exceeds the percentage set above, it will be deprived of the auction return.

4. The bank's investment ceiling in a single auction shall not exceed (500) billion dinars.

5. For further inquiries, you may contact the office via e-mail (omo.office@cbi.iq).
 
With appreciation.
Attachments:-
- Auction issuance plan for (14) days.
- Auction issuance plan for (182) days.

Al-Sudani Discusses With The Commander Of The NATO Mission In Iraq Ways Of Cooperation In Light Of The End Of The International Coalition Mission

Wednesday 30 October 2024 18:05 | Politics Number of readings: 125  Baghdad / NINA / Prime Minister and Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani discussed with the Commander of the NATO Mission in Iraq, Lieutenant General Lukas Schweizers, ways of cooperation in light of the end of the international coalition mission.

The Prime Minister's media office said in a statement: "Al-Sudani met today with the Commander of the NATO Mission in Iraq. During the meeting, ways of security and military cooperation between Iraq and the alliance countries were discussed, in light of the end of the mission of the international coalition to fight ISIS in Iraq."

Al-Sudani was briefed on the outcomes of the high-level meeting between Iraq and the alliance, which was held in Brussels last August, and directed the formation of a joint committee between the two sides, headed by the Iraqi side by the National Security Advisor, to discuss all frameworks of cooperation.

The Prime Minister stressed Iraq's desire to move to bilateral cooperation with the alliance countries that participated in the international coalition, and to enhance the areas of training and joint advice with the Iraqi armed forces, especially after the Iraqi forces have acquired advanced levels of technical and field effectiveness.

Al-Sudani also touched on the developments in the security situation in the region, with the continued Zionist aggression on Gaza and Lebanon, its threat to regional peace, and its attempts to expand the conflict, reiterating the importance of international and UN organizations and major countries assuming their roles and responsibilities towards stopping the aggression and preventing the genocide of the steadfast Palestinian people. /  https://ninanews.com/Website/News/Details?key=1165272  

Ministry Of Justice: Completing The Electronic Documentation System And Canceling The Validity Of Paper Issuances Of Agencies

Buratha News Agency1662024-10-30   The Ministry of Justice announced today, Wednesday, the completion of work on the electronic documentation system and the cancellation of the validity of paper issuances of agencies in all notary public departments in Baghdad and the governorates.

The ministry stated in a statement that "based on the directives of the Minister of Justice, Khaled Shawani, to rely on modern technologies in the work of the judicial departments, and in cooperation with the General Secretariat of the Council of Ministers, the Notary Public Department announced the completion of work on the electronic security code system (QR) for all agencies and in all departments affiliated with it in Baghdad and the governorates."

The ministry quoted the Director General of the Notary Public Department, Youssef Hawiz Khorshid, as saying, "All 178 notary public departments in Baghdad and the governorates have been fully equipped with the requirements for working with the barcode system in order to achieve a complete transition to digitization in the department's work."   https://burathanews.com/arabic/news/452191

Basra Crude Continues To Decline

Wednesday 30 October 2024 | Economic Number of readings: 188   Baghdad / NINA / Basra Heavy and Basra Medium crude prices witnessed a decline, despite the stability of global oil prices.  Basra Heavy crude prices fell by $1.79 to reach $66.01, and Medium crude prices fell by $1.79 to reach $69.16.

Oil prices stabilized during Asian trading on Wednesday, after industrial data showed a surprise decline in crude and gasoline inventories in the United States, after losses in the previous two sessions due to the possibility of a decline in the intensity of the conflict in the Middle East. / End9 https://ninanews.com/Website/News/Details?key=1165160

Rafidain Bank Studies Establishing An Electronic Platform For Trading Government Bonds

Banks  Economy News – Baghdad   Rafidain Bank confirmed, on Wednesday, that it is studying the establishment of an electronic platform for trading government bonds.

A statement by the bank received by "Al-Eqtisad News" stated: "Under the direct supervision of the Minister of Finance and the Governor of the Central Bank of Iraq, Rafidain Bank sponsored an expanded meeting in cooperation with the Securities Commission and the Iraq Stock Exchange to discuss launching an electronic platform for trading government bonds.https://economy-news.net/content.php?id=49303

Customs Announces A Significant Increase In Trebil Port Revenues After Linking It To The ASYCUDA Program

Trebil border crossing between Iraq and Jordan   Money and business  Economy News – Baghdad  The General Authority of Customs confirmed, on Wednesday, that linking the Trebil port to the global ASYCUDA program has reduced cases of smuggling, manipulation and forgery, while indicating a significant increase in the port’s revenues.

The Director of the Trebil Border Customs, Asim Hamid Al-Shawka, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Trebil port is a commercial and vital port and one of the most important ports in the western region in terms of revenues and exports that pass through it", noting that "it is a link between the Hashemite Kingdom of Jordan and the world through the port of Aqaba."

He added that "the reasons for the increased flow of commercial traffic inside the port are due to the ease of work there and the facilities it provides in accordance with the controls and instructions," noting that "this has made most traders import their goods through the Trebil border port."

Al-Shawka explained that "the movement of travelers from Iraq to Jordan is witnessing large numbers of travelers entering and leaving from Iraqis, Arab tourists and foreigners," indicating that "the credit goes to all the security forces that secured the expressway that connects the port to Anbar Governorate, reaching Baghdad and the rest of the governorates of Iraq."

He continued: "All goods are imported through our center from various global origins, the most important of which are food, agricultural fertilizers, dyes, construction materials, human medicines, veterinary medicines, medical supplies, agricultural materials and cars,"

noting that "our center is distinguished by a transit line for transporting goods from various countries of the world through Iraq to neighboring countries, and various Iraqi products are exported through it to the Hashemite Kingdom of Jordan and the rest of the world, the most important of which are soft drinks, juices, dates, asphalt, furniture and other Iraqi products."

He pointed out that "a crude oil pipeline passes through our center to the Hashemite Kingdom of Jordan, and based on the directives of Prime Minister Mohammed Shia Al-Sudani and Minister of Finance Taif Sami, and under the direct supervision of the Director of the General Authority of Customs Hassan Hamoud, the port was linked to the global ASYCUDA program, which enhanced the reduction of cases of smuggling, manipulation and forgery, and led to a significant increase in revenues over previous years."

He pointed out that "cases of smuggling food items unfit for human consumption were monitored and destroyed, and the smugglers were referred to the judiciary to receive their just punishment," explaining that "this success was achieved through cooperation between the General Authority of Customs, represented by the Trebil Customs Center, and the Border Ports Authority and all supporting departments in terms of the mechanism for exchanging information.

We must not forget the Anbar government, represented by the Anbar Governor and the Chairman of the Provincial Council, with their unlimited support for the Western Region Customs Directorate and the ports affiliated with the Western Region."   https://economy-news.net/content.php?id=49310

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