Iraqi News Saturday AM 10-2-21
Iraqi News Saturday AM 10-2-21
TLM724 Administrator BondLady’s Corner
The Presidency Of The Republic Resolves The Fate Of The Sanctions And Money Recovery Laws
Political Saturday October 2, 2021 | 09:21 am| Number of readings: 181 Adviser to the President of the Republic, Amir al-Kinani, confirmed, on Saturday, that the penalties and money recovery laws will be under the eyes of the next parliament .
Al-Kinani said, "The penal laws and the recovery of smuggled funds were prepared by the Presidency of the Republic, in cooperation with a specialized team of jurists, judges, the United Nations and other relevant institutions such as the Bar Association and the Jurists' Union, and work continued on them for more than two years and were fully completed ."
He explained that "the Presidency of the Republic is not concerned with the end of the parliamentary session, given that the completion of laws is an integrative work that is not linked to a specific time ceiling, so the next parliamentary session will have these laws under its watch in order to discuss and legislate them ."
Al-Kinani pointed out that "the new penal code included new opinions, while the old law was issued during the year 1969, and more than 300 amendments were amended due to the decisions of the dissolved Revolutionary Command Council that were inserted into the penal code and emptied of its content ."
And he indicated that "the new penal code witnessed the adoption of the social defense school by experts and specialists, which is a criminal policy that differs from the current policy in the penal code, including reducing death sentences, tightening and toughening economic penalties, financial and administrative corruption, and going to alternative penalties ."
As for the crimes and acts committed that do not constitute a danger to society, Al-Kinani stated that “going to alternative punishments is better than placing the convict in a penal institution and he may turn into a new criminal, in addition to observing the conventions ratified by Iraq such as CEDAW and others related to women, children and the family.” All of these contents are taken into account in the Penal Code.
https://aynaliraqnews.com/index.php?aa=news&id22=152372
Penalty Laws And Money Recovery Under The Eyes Of The Next Parliament
Saturday 02 October 2021 139 Baghdad: Muhannad Abd al-Wahhab Adviser to the President of the Republic, Amir Al-Kinani, confirmed that the penalties and money recovery laws will be under the eyes of the next parliament.
Al-Kinani told "Al-Sabah": "The penal laws and the recovery of smuggled money were prepared by the Presidency of the Republic, in cooperation with a specialized team of lawyers, judges, the United Nations and other relevant institutions such as the Bar Association and the Jurists' Union, and work on them lasted for more than two years and was fully accomplished."
He explained that "the Presidency of the Republic is not concerned with the end of the parliamentary session, given that the completion of laws is an integrative work that is not linked to a specific time limit, so the next parliamentary session will have these laws under its watch in order to discuss and legislate them."
Al-Kinani pointed out that "the new penal code included new opinions, while the old law was issued during the year 1969, and more than 300 amendments were amended due to the decisions of the dissolved Revolutionary Command Council that were inserted into the penal code and emptied of its content."
And he indicated that "the new penal code witnessed the adoption of the social defense school by experts and specialists, which is a criminal policy that differs from the current policy in the penal code, including reducing death sentences, tightening and toughening economic penalties, financial and administrative corruption, and going to alternative penalties."
As for the crimes and acts committed that do not pose a danger to society, Al-Kinani stated that “going to alternative punishments is better than placing the convict in a penal institution and he may turn into a new criminal, in addition to observing the conventions ratified by Iraq such as CEDAW and others related to women, children and the family.” All of these provisions are taken into account in the Penal Code. LINK
An Economist To Nina: An Economic Plan Must Be Drawn Up That Differs From The 2021 Budget Plans
Saturday 02 October 2021 09:20 | EconomicNumber of readings: 320 Baghdad / NINA / - The economic expert, Raad Twij, confirmed that the 2022 budget is a similar image to the 2021 budget.
Twig said in a statement to the National Iraqi News Agency ( NINA ) that: The 2022 budget is a similar image to the 2021 budget, and this is not correct from an economic point of view and does not refer to building The budget reflects the real needs of the Iraqi economy, which can transfer it to the ranks of the economies of regional countries, at the very least."
He noted, "The 2022 budget can give impetus to economic sectors that were neglected in the past due to insufficient resources such as industry, agriculture and scientific research, especially with the escalation of oil prices and reaching the limits of $80, which provides surplus capital to the Iraqi treasury. Therefore, the 2022 budget plan should be It has orientations other than those of the 2021 budget and its consumption images, meaning that its payments are productive and work to increase incomes for the poor and indirectly, for the most part.”
He continued, "Adopting the price of a barrel at / 50 / dollars is a major fallacy, as there is a large discrepancy with the price of a barrel in the market of 80 dollars, which may make the economy ineffective and its resources disrupted." / End 8 https://ninanews.com/Website/News/Details?key=930287
The Ministry Of Finance Announces The Issuance Of Construction Bonds In The Stock Market
Money and business Economy News _ Baghdad Today, Friday, the Ministry of Finance announced the issuance of construction bonds in the stock market.
A statement by the ministry, received by "Al-Iqtisad News", stated that "the Ministry's Public Debt Department, in cooperation with the Central Bank of Iraq, issued construction bonds that are tradable in the stock market, with the guarantee of the Ministry of Finance, and according to the categories of bonds offered for trading:
1- A bond class (500000) five hundred thousand A dinar with an annual interest of 6% for a period of two years
2- A bond of category (1000000) one million dinars with an interest of 7% for a period of 4 years.
The ministry called on "investors and citizens to take advantage of this investment opportunity, because of its returns for the benefit of the borrower (the investor) and for the entire national economy," noting that "the process of trading these bonds comes in accordance with the plans and mechanisms of the financial sustainability process and its improvement,
in addition to the positive economic effects represented by raising The levels of economic activities for the various sectors and the promotion of broad development opportunities and within the framework of implementing the paragraphs of comprehensive financial and economic reform plans within the adoptions of the White Paper, and in implementation of the programs for the development of fiscal and monetary policy in Iraq. Views 269 Date added 01/10/2021 https://economy-news.net/content.php?id=26475
Al-Rafidain Issues A Directive Regarding Opening Accounts For Citizens To Deposit Their Money
Economie| 09:07 - 02/10/2021 Baghdad - Mawazine News, on Saturday, Al-Rafidain Bank directed all its branches in Baghdad and the provinces to continue receiving customers wishing to open accounts of all kinds.
The media office of the bank stated, in a statement that Mawazine News received a copy of it, that "many citizens have a great desire to open accounts for the purpose of depositing their money in the bank and obtaining interest."
The bank called on its employees to “the necessity of providing the necessary facilities for those who want to deposit their money in the banking system and benefit from the services provided by the bank through those deposits.” Ended 29/A43 https://www.mawazin.net/Details.aspx?jimare=169485
Dollar Exchange Rates In Local Markets
Market Economy News _ Baghdad The dollar exchange rates continue to maintain their stability in the local markets. Today, Saturday, the selling prices of the dollar were 147,500 dinars per 100 dollars, while the purchase prices of the dollar were 147,000 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar.
Views 91 Date added 02/10/2021 https://economy-news.net/content.php?id=26485
For This Reason?.. The Iraqi Stock Exchange Stopped Its Activity For One Day
Economie| 12:54 - 02/10/2021 Baghdad - Mawazine News The Iraq Stock Exchange announced, on Saturday, the suspension of its activity for one day.
And the market said in a brief statement that “Mawazine News” received a copy of it, that “based on the decision of the Iraqi Council of Ministers to declare tomorrow Sunday an official holiday, the market management will not organize trading sessions for this day,” adding that “activity will be practiced after the official holiday starting from after Tomorrow, Monday, according to its official timings. Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=169525
Updated Cash Sterilization
Saturday 02 October 2021 119 Mustafa Mohamed Ibrahim Updated cash sterilization is a process by which monetary authorities ensure that foreign exchange flows from abroad do not affect the monetary basis, as the monetary basis is one of the components of the overall money supply.
Many countries are trying to influence the value of their local currency in the foreign exchange market, through the operations of buying and selling that currency against the foreign currency. If the monetary authority sells the local currency, which was not in circulation before, this measure will expand the local monetary base (increase), and the same is true if the monetary authority buys more of its local currency, and does not enter that currency into circulation, the effect here will be deflationary (declining) ona monetary basis.
In Iraq, the circulating monetary sterilization is the window for selling foreign currency by withdrawing the Iraqi dinar from the market in exchange for providing the market with foreign currency, which is the (dollar). As for the new monetary policy mechanism, which is the updated monetary sterilization by offering national bonds with the first two issues in the amount of (500,000) Dinar with annual interest (6%) for two years, and the second issue in the amount of (1,000,000) dinars and annual interest (7%) for four years, for the purpose of withdrawing liquidity from the public through banks and at the same time called building bonds.
Public requests are submitted through all banks, and then the bank pays these requests to the Central Bank of Iraq, for the purpose of providing the bank with the required bonds. During the other banking operations carried out by the banks, in addition to the fact that the banks did not focus only on the foreign currency sale window, but rather moved the other goals undertaken by the banks.
In my opinion, it is called (the updated monetary sterilization), as the Central Bank of Iraq continues to achieve its development goals towards a sustainable economy, as well as being the only lung of the Iraqi economy in all crises, starting from 2015 until now.
In conclusion, the Ministry of Finance should direct its government banks (Al-Rafidain, Al-Rasheed, Al-Iraqi Trade) to support this method carried out by the Central Bank towards achieving development goals, as well as reducing the financial deficit, based on the Federal General Budget Law of the Republic of Iraq No. (23) of 2021 / Article II - Deficit / Paragraph 2 - A - 2, which authorized the issuance of national bonds to the public, in support of the budget, and do not forget that there are national bonds issued in 2021 with an amount of (8.5) trillion Iraqi dinars, which is part of the sources of financing the planned deficit in the 2021 budget.
https://alsabaah.iq/55348/%D8%A7%D9%84%D8%AA%D8%B9%D9%82%D9%8A%D9%85-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A-%D8%A7%D9%84%D9%85%D8%AD%D8%AF%D8%AB
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