Iraqi News and Highlights Sunday Evening 7-5-20

Iraqi News and Highlights Sunday Evening 7-5-20

TLM 724 Administrator BondLady’s Corner

Association of Banks: The capital of banks operating in Iraq amounted to more than 15 trillion dinars

Economie| 09:39 - 05/07/2020  Baghdad - Mawazine News  , The Iraqi Private Banking Association revealed, on Sunday, the size of the Iraqi banking sector, pointing out that the capital of banks operating inside the country reached more than 15 trillion dinars.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a statement received / Mawazine News / a copy of it: "The Association of Banks provides to all media and researchers financial information for the banking sector that explains its size and impact in Iraq during the year 2019," noting that "the data Prepared by the central bank indicates an increase in the capital of the banking sector to more than 15 trillion dinars.

He noted that "the banking sector has witnessed a great development during the past years, and was able to increase the volume of lending and deposits in banks, which will positively affect the Iraqi economy, especially after the central bank reduced interest on small and medium enterprises."

Tariq stressed that "the capital of Iraqi banks amounted to more than 15.3 trillion dinars until 2019, divided into 3.3 trillion dinars, the capital of government banks, while the capital of private banks amounted to 12 trillion dinars," noting that "deposits in the banking system amounted to 82.1 trillion dinars, of which 71.38 trillion Dinars in government banks, while in private banks amounted to 10.72 trillion dinars.

Tariq pointed out that "cash credit amounted to 42 trillion dinars divided into 34.2 trillion dinars provided by government banks and 7.8 trillion dinars provided by private banks, while pledge credit amounted to 25.2 trillion dinars divided into 17.2 trillion dinars from government banks and 8 trillion dinars from Private banks. "

He stressed that "bad debts amounted to 4.1 trillion dinars divided into 2.37 trillion dinars in government banks and 1.77 trillion in private banks, and this default is due to the lack of commitment of borrowers to pay back borrowing money," explaining that "the profits of banks during the past year amounted to 1090 billion dinars divided into 956 billion dinars for government banks and 134 billion dinars for private banks. ”Ended 29   https://www.mawazin.net/Details.aspx?jimare=108406

A statement of the capital of banks operating in Iraq and the assets of the central bank

Time: 7/20/2020 09:43:51 Read: 4,628 times

{Baghdad: Al Furat News} The Iraqi Private Banking Association revealed the Iraqi banking sector, as the capital of banks operating inside the country reached more than 15 trillion dinars.

"The Association of Banks provides to all media and researchers financial information for the banking sector that explains its size and impact in Iraq during the year 2019," said Ali Tariq, executive director of the Association, Ali Tariq, in a statement received by the agency (Al Furat News). To increase the capital of the banking sector to more than 15 trillion dinars. "

He noted that "the banking sector has witnessed a great development during the past years, and was able to increase the volume of lending and deposits in banks, which will positively affect the Iraqi economy, especially after the central bank reduced interest on small and medium enterprises."

Tariq stressed that "the capital of Iraqi banks amounted to more than 15.3 trillion dinars until 2019, divided into 3.3 trillion dinars, the capital of government banks, while the capital of private banks amounted to 12 trillion dinars," noting that "deposits in the banking system amounted to 82.1 trillion dinars, of which 71.38 trillion Dinars in government banks, while in private banks amounted to 10.72 trillion dinars.

He pointed out that cash credit amounted to 42 trillion dinars divided into 34.2 trillion dinars provided by government banks and 7.8 trillion dinars provided by private banks, while pledge credit amounted to 25.2 trillion dinars divided into 17.2 trillion dinars from government banks and 8 trillion dinars from private banks

Tariq stressed that "bad debts amounted to 4.1 trillion dinars, divided into 2.37 trillion dinars in government banks and 1.77 trillion in private banks, and this failure is due to the lack of commitment of borrowers to pay back borrowing money, explaining that the profits of banks during the past year amounted to 1090 billion dinars divided into 956 billion dinars for government banks and 134 billion dinars for private banks. "

On the other hand, the Iraq Future Foundation said that "the assets of the Central Bank of Iraq for the month of May 2020 decreased by 1.83% compared to April 2020, but it increased by 3.93% compared to May 2019 to reach the value of the assets 105.6 trillion dinars."

She attributed "the reason for the decrease in the assets of the central bank to the continued volume of sales from the dollar for the purpose of import, with the decrease in the volume of purchases from the dollar from the Ministry of Finance, which leads to the trend towards using the reserve to compensate for the shortfall."

She added, "Cash and gold reserves rose by 0.54% compared to April 2020 and by 15% compared to May 2019 to reach 21 trillion dinars."

It indicated, "The percentage of decline in investments amounted to 4.64% compared to April 2020 and 11.3% compared to May 2019, to reach 43.5 trillion dinars."

"On the level of the issued cash, it increased by 1.3% compared to April 2020 and 26% compared to May 2019, to reach 58.6 trillion dinars, and to represent 55% of the total liabilities of the bank, a large percentage due to the decline in bank deposits and the balances of government institutions As the banking sector suffers from weak banking transactions that reduce the volume of its deposits with the central bank and also the need for government institutions for funds, which causes them to withdraw part of their assets with banks to cover their expenses.

Predicted an independent institution that "witnessing the coming months , a further decline in central bank reserves as a result of the purchase of the dollar and the continued buying rates of the dollar for the purposes of import decline from the Iraqi government as a result of the weakness of imports at the same pace, leading to the withdrawal of more bank reserves to compensate for the shortfall , " .anthy LINK

After a pause for years ... the local authorities in Nineveh announce Baghdad's agreement to resume the work of (18) exchange companies

Sunday 05, July 2020 13:15 | Economical Views: 147  Mosul / Nina / announced the Nineveh province , for obtaining the approval of the authorities in Baghdad to resume the work of 18 banking company in the province , said the mayor of Mosul , Zuhair al - Araji , the National Iraqi News Agency / Nina / "

The banking offices will start to practice their work throughout the province of Nineveh , after an absence of about (five Years after obtaining approval to resume the work of (18) banking companies in the province, to obtain approval to work for the rest of the companies during the next few period. / End

https://ninanews.com/Website/News/Details?key=842077

Al-Fateh issues a statement regarding the US embassy training in Baghdad and is surprised by the government's silence

Political| 03:25 - 07/05/2020  Baghdad - Mawazine News  , the Al-Fatah coalition led by Hadi Al-Amiri issued a statement on Sunday regarding the US embassy’s training and security system training in central Baghdad yesterday, while expressing its surprise at the government silence.

The coalition said in a statement received by / Mawazine News / a copy of it. How does the embassy and diplomatic missions turn into a military barracks in the heart of Baghdad, and worse than that, how do Iraqi decision-makers agree with these flagrant violations without moving a finger, and therefore we are very surprised by the absence of the clear and explicit government position, as well as we are surprised by the silence and silence of all the parties who were crying about the prestige of the state without moving a finger

And he added, "What happened yesterday in Baghdad to terrorize the people in broad daylight without warning warns the bell of danger and warns of continuing violations of the sanctity and sovereignty of Iraq, and from here all the national forces loyal to this country must condemn these repeated violations and the Americans should stop these actions Provocative to the dear Iraqi people and to stop the series of abhorrent violations, and the Iraqi government must take all measures to prevent the recurrence of what happened.  

https://www.mawazin.net/Details.aspx?jimare=108480

American forces test the "Patriot" system in the heart of Baghdad

Baghdad Post Saturday, July 04, 2020 4:09 PM

Security sources said that US forces tested the Patriot air defense system Saturday in the Green Zone in the center of the capital, Baghdad.

The sources said in her statements that the sounds of the explosions that were heard from inside the Green Zone were a security exercise carried out by the American forces to test the Patriot air defense system.

The sources added that an American air plane bombed the Green Zone by air to test the effectiveness of the Patriot system.

The sources indicated that the testing process was conducted with the knowledge and coordination of the relevant government agencies.

She added that "the security company charged with protecting the US embassy compound is also firing shots and loud sound bombs for an hour for the purpose of training amid the sound of sirens."

The United States deployed the Patriot systemIn several locations in Iraq to repel repeated missile attacks targeting its soldiers and diplomats by factions loyal to Iran.

The attacks specifically target the US embassy in central Baghdad and military bases that include US soldiers and diplomats across the country. LINK

By documents .. two Lebanese banks close their branches in Iraq

Author: AhadNA4 On 7/5/2020 - 4:52 PM 10  Al Ahed News

Al-Ahed News publishes two documents issued by two Lebanese banks announcing the closure of their branches in Iraq.

According to the two documents, the bank’s branches and credit in France were closed.

https://alahadnews.net/82436/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82/%d9%85%d8%ad%d9%84%d9%8a%d8%a7%d8%aa/

Parliamentary Finance: The government will not submit a budget and is still busy preparing the 2021 budget

09:00 - 05/07/2020  The information / Baghdad ..On Sunday, the Parliamentary Finance Committee ruled out that the coming days would witness the submission of the 2020 budget, pointing out that the government is currently busy preparing the 2021 budget.

Committee member Jamal Ahmed told Al-Maalouma that the government cannot provide any budget for 2020 with a monthly resource of $ 2.8 billion, at a time when the operational budget needs at least $ 7 billion a month.

He added that "the government will not be able to submit a budget of 60% of which is a deficit, and therefore it will not submit a budget for the current year, and will remain within the system of 1/12."

Ahmed said, "The Financial Management Law provides for a budget for the next year at mid-May, and therefore the government has recognized its preoccupation with the 2021 budget." Ended / 25

https://www.almaalomah.com/2020/07/05/483287/

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