Iraqi News Monday AM 11-30-20
Iraqi News Monday AM 11-30-20
TLM724 Administrator BondLady’s Corner
Parliamentary Committee Calls On The Government To Start Implementing The "White Paper"
Monday 30th November 2020 86 Baghdad: Morning Yesterday, Sunday, the head of the Parliamentary Committee to Follow Up the Government Program, Hazem Al-Khalidi, presented several proposals to maximize non-oil imports, and called on the government to begin its procedures to implement what was mentioned in the white paper.
Al-Khalidi said, in a press statement: “The proposals submitted by the Finance Committee are consistent with the reforms that we talked about at the time of discussion of the Fiscal Deficit Financing Law, which are general and necessary reforms looking to maximize non-oil revenues for the next period,” noting that “the previous period did not witness any Discussion or interest on the part of governments in the issue of promoting non-oil imports and relying completely on oil, which led to a major defect that caused the delay in salaries of employees.
He added, “Among the doors to maximizing imports are the border crossings in all provinces, including the Kurdistan region, which if automated and controlled electronically, it will enhance state revenues by an amount that may reach six billion dollars annually, in addition to controlling the currency auction will enhance imports The state is worth more than five billion dollars, and the mobile phone file and the fourth generation licenses may be an important supporter of non-oil revenues.
Al-Khalidi pointed out, “Moving on the cash reserve in the central bank is a catastrophic matter if it continues, and the government must implement its ministerial program in addition to expediting the completion of the budget for the next year and sending it to the House of Representatives because it is long overdue considering that the law obliged the government to send it before A month and a half to the House of Representatives ». LINK
Al-Kazemi Directs To Send The 2021 Budget "Immediately" To The Cabinet Secretariat
Pratha News Agency67 2020-11-30 Prime Minister Mustafa Al-Kazemi directed, on Monday, to send the draft federal budget law for 2021 "immediately" to the General Secretariat of the Council of Ministers for the purpose of scrutiny.
"The Prime Minister directed the Ministries of Finance and Planning to send the budget immediately to the General Secretariat of the Council of Ministers for the purpose of checking it by the legal department in order for an extraordinary session to be allocated for discussion and referred to the House of Representatives for approval as soon as possible," the Iraqi News Agency quoted the spokesperson of the General Secretariat, Haider Majeed. ".
Majeed added, "The government and parliament are unanimous on the need to expedite the approval of the 2021 budget." http://burathanews.com/arabic/news/381567
In The Presence Of The Minister Of Finance, The Banking Association Is Organizing A Meeting For The Banking Sector
Monday 30th November 2020 40 Baghdad: Morning The Iraqi Private Banks Association organized a meeting that includes all banks operating in Iraq, in the presence of the Deputy Prime Minister for Economic Affairs, Minister of Finance Dr. Ali Abdul-Amir Allawi, to discuss mechanisms for developing the banking sector according to the white paper.
The Minister of Finance, Ali Abdul Amir Allawi, said: “The banking sector is the most important economic sector, and the state is working to support it in order to move the economy.” .
Infrastructure
He added that "the Ministry of Finance is working to strengthen the infrastructure for the advancement of all economic sectors, especially the banking sector, in order to support investment projects in Iraq, explaining that" the Ministry of Finance does not see any alternative but to strengthen the banking sector and push it forward by removing obstacles in front of it. He noted that the Ministry of Finance is seeking to offer bonds worth 3-5 billion dollars to citizens in the two currencies, the dinar and the dollar, and we expect private and government banks to buy them.
Issuing bonds
He pointed out that "the exchange rate of the dinar against the dollar will be fixed when issuing bonds, in order to avoid any losses in bond purchases by banks and citizens."
He stressed that “the Ministry of Finance, through the White Paper, will reform the financial policy and monitor the economy, and change it to keep pace with the global economy.” For his part, the head of the Iraqi Private Banks Association, Wadih Al-Handal, thanked the Minister of Finance for responding to the call, stressing that “the white paper has accurately identified the economic problems. And solutions became available to all Responsible. "
Quick fixes
He pointed out that "Iraq is now at a crossroads, and if the rapid reforms necessary to pull the country out of its crisis are not implemented, this crisis will worsen in the coming year and the years that follow," calling for "adopting reform policies and contributing to their implementation, whether at the level of the public or private sector."
He pointed out that "the Association of Private Banks praises the reforms related to the banking sector included in the white paper," praising the procedures of the Central Bank of Iraq that contribute continuously to support the banking sector.The private. LINK
Al-Fath: Al-Kazemi's Accusations To The Blocs Of Controlling The Ports Are Unacceptable Excuses, And He Must Uncover The Corrupt
Pratha News Agency65 2020-11-30 On Monday, the Al-Fateh Alliance criticized what it called Al-Kazemi's vague accusations against the political blocs of controlling the outlets and the currency auction, returning them unacceptable excuses, and he must reveal the corruption of those parties.
The MP for Al-Fateh Ahmed Al-Kinani said in a press interview, "The talks of Prime Minister Mustafa Al-Kazemi about the corruption of the currency auction and the border crossings increased and accused the blocs of controlling them without naming them from the controlling party."
He added that "these accusations do not go beyond being unacceptable excuses," noting that "the prime minister has the authority and the law, and he has to reveal those parties and their corruption, not to be preoccupied with implicit accusations without mentioning names."
Al-Kinani asked, "What does an Iraqi citizen do if the prime minister fears a certain party and is afraid to mention the names of the corrupt?" http://burathanews.com/arabic/news/381569
The Governor Of The Central Bank Discusses With The Algerian Ambassador The Financial And Banking Situation
Time: 11/30/2020 14:41:47 Read: 741 times (Baghdad: Al Furat News) The Governor of the Central Bank, Mustafa Ghaleb Makhaif, discussed with the Algerian ambassador to Iraq, Abdul Qadir bin Sha'a, the discussion of the financial and banking situation in the two countries and the most important challenges for the next phase after Corona.
The central bank stated in a statement received by the Euphrates News, a copy of it, that "Governor Mustafa Mkhaif received the Ambassador of the Republic of Algeria to Iraq, Abdelkader Bin Sha`a.
During the meeting, the historical relations between the two brotherly countries and ways to develop them were reviewed, as well as the financial and banking situation in the two countries. And the most important challenges for the next stage after Corona. For his part, the Algerian ambassador affirmed his country's keenness and support for Iraq and the importance of trengthening relations and joint action between the two countries in a way that serves the aspirations of their peoples. LINK
MP Faili Calls For A Halt To Depleting Hard Currency In The Central Bank Auction
Monday 30, November 2020 12:59 | Economica Views: 255 Yakhdad / Nina / Member of the Parliamentary Economic Committee, Mazen Al-Faily, called for stopping the depletion of hard currency in the Central Bank auction, indicating that: "Hundreds of billions of dinars are lost in profits to banks belonging to exchange owned or in partnership with influential political parties." Suspect
Al-Faili said in a statement received by the Iraqi National News Agency / NINA / a copy of it: "We renew our demand to stop the depletion of hard currency in the sale auction in which hundreds of billions of dinars are lost every month in illegal profits acquired by banks that raise many indications of return on their exchange or in partnership with parties "It is an influential politician, and because of the lack of transparency and clarity in publishing the dollar amount sold to each bank per day.
He explained: "The available information indicates that some banks earn more than eighty billion dinars per month, meaning that this bank alone acquires enough monthly salary of (400) thousand dinars for more than (200) thousand citizens, and if we calculate the average family of five people This is enough to support one million Iraqis a month, and if we collected the profits of other banks to it, trillions of dinars would be available annually. "
He added: "One of the proposed solutions to this crisis that drains public money is to place the currency sale activity in all its stages under the eyes of the public opinion and the supervisory authorities to prevent manipulation and end the illicit profit by banks that are relying on the drain of public money."
It is clear by direct selling of dollars to actual traders and citizens, without going through intermediary banks that do not provide any economic development activity, and a profit tax can be calculated in advance to ensure the collection of additional revenues from the process of selling the dollar in the currency auction. "/ End 9 https://ninanews.com/Website/News/Details?key=873475
Representative Economy: Bank Profits From The Currency Auction Are Sufficient To Support One Million Iraqis Per Month
Time: 11/30/2020 14:27:00 Read: 2,067 times {Baghdad: Al Furat News} A member of the Parliamentary Economic and Investment Committee, Mazen Al-Faily, called for a halt to the depletion of hard currency in the currency auction, in which "hundreds of billions of dinars are wasted as profits for banks belonging to their pure ownership or in partnership with influential political parties."
"We reiterate our call to stop the depletion of hard currency in the selling auction in which hundreds of billions of dinars are lost every month in illegitimate profits acquired by banks that retaliate many indications of their pure ownership or in partnership with influential political parties," Al-Faily said in a press conference held in the Parliament Building.
He added, "Because of the lack of transparency and clarity in publishing the amount of dollar sold to each bank daily, the available information indicates that some banks profit more than eighty billion dinars per month, meaning that this bank alone acquires enough monthly salary of (400) thousand dinars for more Of (200) thousand citizens and if we calculate the average family of five people, it is sufficient to support one million Iraqis per month.
Al-Faily presented proposed solutions to this crisis that drains public money, namely:
1- Putting the currency selling activity in all its stages under the eyes of the public opinion and the supervisory authorities to prevent manipulation and end the illicit profit by banks that are dependent on the depletion of public money.
2.- That the central bank takes clear measures by directly selling dollars to actual traders and citizens without going through intermediary banks that do not provide any economic development activity.
3- Profits tax can be calculated in advance to ensure that additional revenues are collected from the sale of the dollar in the currency auction. LINK
Al-Kazemi And His Swedish Counterpart Are Discussing By Phone Encouraging Investment Companies To Operate In Iraq
Time: 11/30/2020 15:07:23 Read: 1,157 times Today, Monday, Prime Minister Mustafa Al-Kazemi received a phone call from the Prime Minister of Sweden, Stefan Löfven, and they discussed joint cooperation between the two countries.
The media office of the Prime Minister said in a statement that Al Furat News received a copy of, that "during the meeting, bilateral relations between the two countries were discussed, the regional situation discussed, and ways of joint cooperation in the field of combating terrorism and combating the terrorist organization ISIS."
The statement added that "the two parties discussed in the field of investment and encouraging Swedish companies to work in Iraq." LINK
Siemens: We Are Proceeding With The Iraqi Road Map
Monday 30th November 2020 266 Baghdad: Omar Abdul Latif The global energy giant, the German company, Siemens, expressed its hope to consolidate cooperation with Iraq and work to meet the country's need for electricity during the coming period, stressing the way forward in the "road map" strategy that it agreed to implement in Iraq with previous governments.
The CEO of Siemens Musab Al-Khatib said in an interview with Al-Sabah that “the company had previously submitted an integrated strategy to provide electric power to Iraq under the name (Road Map), which included achieving self-sufficiency within four years. However, there are challenges to meet the requirements of The electricity sector, including failure to provide adequate quantities of fuel; The effect of continuing with this plan, ”indicating that“ it is possible to make use of the associated gas to feed the power stations, and from its derivatives to support the general budget through these valuable extracted materials. ”
The German company developed an integrated and comprehensive plan for thoughtful control in the related sectors to meet the country's energy needs, and Al-Khatib notes that «the fluctuation of global oil prices, and the economic downturn that resulted from the Corona pandemic; Impact on the pace of implementation of development projects in Iraq, and these challenges are not only faced by Iraq; But it is part of the challenges that the world faces, ”indicating that“ we are making progress in implementing our projects, and we are optimistic about the economic policies and reform programs announced by the government, and its desire to move forward in implementing the state’s infrastructure projects, in a way that supports levels of economic performance ”. LINK
NATO Determines The Objectives Of Its Presence In Iraq
Editing date: 11/30/2020 17:21 • 23 times read [Baghdad-Where] Prime Minister Mustafa Al-Kazemi issued, on Monday, several directives regarding the electoral process, directing a request to Parliament regarding the election law.
The Secretary-General of NATO, Jens Stoltenberg, announced the strengthening of the alliance's presence in Iraq and the continuation of training Iraqi forces in the context of the war on "terrorism."
"We are strengthening our presence in Iraq, and we continue to support Iraqi local forces," Stoltenberg said, according to the Kurdish network Rudaw.
He added, "We are continuing to train Iraqi forces," indicating, "We aim to eliminate terrorism in Iraq."
http://www.alliraqnews.com/modules/news/article.php?storyid=104557
The Stock Market Index Continues Its Losses In The Second Session
Iraqi Stock Exchange «Economy News» Market Economy News – Baghdad The index fell, on Monday, by 0.27%, extending losses to the session on Sunday.
The session witnessed the circulation of 17.3 billion shares, worth 8.7 billion dinars.
The shares of the Islamic Bank Company were the most traded, with a value of 15 billion shares, worth 5.8 billion dinars.
While the Khazer Road Construction Company topped the losing companies, after the value of its shares fell by 19.57%.
On the other hand, the National Bank Company topped the winning companies after the increase in the value of its shares by 3.08%. Number of observations 77 Date of addendum 11/30/2020
https://economy-news.net/content.php?id=22949
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