Iraqi News Thursday AM 9-16-21
Iraqi News Thursday AM 9-16-21
TLM724 Administrator BondLady’s Corner
In The Document.. The Central Bank Directs Government Banks To Continue Granting 15 Million Loans To Two Categories
Economie| 03:24 - 09/16/2021 Baghdad - Mawazine News, Member of the House of Representatives, Representative Jamal Al-Muhammadawi confirmed, on Thursday, that the Central Bank of Iraq directed the banks (Al-Rafidain - Al-Rasheed - Al-Iraqi Trade) to continue receiving customer requests regarding easy personal loans.
Al-Muhammadawi said in a statement received by Mawazine News, a copy of it: “Many appeals were received to us stating that government banks did not comply with the Central Bank Board of Directors’ decision number (9) for the year (2021) to grant the segment of workers in state institutions, the public sector and local security institutions their salaries. Various banks have personal loans worth (15 million dinars) from the initiative of the Central Bank of Iraq (1) trillion dinars.
He added: "We addressed the Central Bank with the need to confirm and follow up on banks to abide by the bank's decisions regarding these loans, and based on our communications, the Central Bank responded and emphasized the banks (Al-Rafidain - Al-Rasheed - Al-Iraqi Trade) to continue receiving citizens' requests regarding easy personal loans." Ended 29/A43
https://www.mawazin.net/Details.aspx?jimare=167642
The Central Bank: Financing Projects Is Linked To Their Developmental Importance
Money and business Economy News – Baghdad The Central Bank of Iraq confirmed, on Thursday, that the process of financing project loans is related to their importance in the development of the Iraqi economy, and that the bank conducts a periodic review of lending mechanisms according to the requirements of economic and financial conditions.
An authorized source in the bank said, in an interview reported by the official newspaper “Al-Sabah” and seen by “Al-Iqtisad News”, that “the competent committee is setting up a mechanism for granting loans, directing the lending policy to support small, medium and large projects in a manner that serves the objectives of economic development in Iraq, and approving development projects.
Lifted by banks, which aims to (reduce the import of goods and products, provide a greater number of job opportunities for young people and establish a developed local industry).
He added, "Our policy supports and encourages the establishment of industrial and agricultural cities to diversify sources of income in the Iraqi economy, and works to simplify the procedures for approving the establishment of projects subject to the approval of the relevant government agencies."
He added, "This committee is also working on reviewing lending mechanisms and guidance on modifying them according to the requirements of the economic and financial conditions that the Iraqi economy is going through, and the committee has the power to host representatives from the private sector to participate in its meetings and form technical teams to discuss the implementation of loans."
Regarding the priorities of granting the loan for strategic projects and whether the loans are limited to projects with an investment dimension, the source explained that “the priorities of the loan for strategic projects are summarized in the extent of the project’s impact on the economic development process and reducing unemployment by attracting various segments of society in various sectors to ensure acceleration of the wheel Sustainable development for the economy to recover and the sources of income to be diversified, and project financing is not limited to the investment dimension only, but the financing goes to granting housing loans for the purpose of facilitating the requests of citizens wishing to purchase housing units inside and outside investment housing complexes. Views 146 Date Added 09/16/2021 https://economy-news.net/content.php?id=26321
The Cabinet issues several decisions
Political | 07:52 - 09/16/2021 Baghdad - Mawazine News, Prime Minister Mustafa Al-Kazemi chaired, on Thursday, the thirty-fifth regular session of the Council of Ministers, in which he discussed the developments of the situation in the country, discussed topics on the agenda, and issued decisions and recommendations regarding them.
During the session, Al-Kazemi confirmed that all the requirements of the electoral process, which is only three weeks away from it, were prepared, and important measures were taken to support the Commission in various logistical and security aspects, during the extraordinary session of the Council of Ministers last Saturday.
And he indicated that the government has fulfilled its pledges to hold early elections, calling on all social and political actors to urge citizens to actively participate in the elections, in order to achieve political and administrative reform for our country and our people.
Al-Kazemi referred to the National Document for Electoral Conduct, which was launched yesterday, and constitutes a charter of honor, obligating all political blocs and candidates, not to violate any act that affects the integrity of the electoral process.
The Prime Minister also referred to the international conference to recover looted funds, and an Arab and international desire to help Iraq recover these funds. His Excellency stressed that there are billions of dollars smuggled by the corrupt before and after 2003, and the government will recover these funds as the rights of the Iraqi people.
During the session, he reviewed his recent visit to Iran, and his talks, which he described as fruitful, with Iranian President Ibrahim Raisi and a number of leaders, where it was agreed to expand trade and economic exchange between the two countries.
The session witnessed a review of the epidemiological report of the Corona pandemic, and the developments in the work of the Committee to Strengthen Government Actions in the Fields of Health Awareness Prevention and Control; To limit the spread of the virus, and the efforts of the Ministry of Health and its health and preventive measures, to confront the pandemic, and to provide vaccines to citizens through vaccination outlets.
After discussing the topics on the agenda, the Council of Ministers issued the following decisions:
First / Based on what was stated in the instructions for implementing the federal budget for 2021, paragraph (gifting goods and services), and given the participation of our dear country as a guest of honor in the Riyadh International Book Festival that will be held in the Saudi capital. - Riyadh For the period 1-10 October 2021, it was approved to authorize the Minister of Culture, the authority to gift Iraqi books and publications to Arab and international cultural dignitaries.
Second / Approval of the issuance of the Command College system that was audited by the State Council, based on the provisions of Article (80/ Item III) of the Constitution, and Article (14) of the Law of the Defense University for Higher Military Studies, No. (4) of 2016, taking into consideration Notes The Legal Department of the General Secretariat of the Council of Ministers indicated in its memorandum numbered (M.D./Q./2/2/31/559/349 L.Q.) dated August 15, 2021.
Third / Approval of the issuance of instructions to facilitate the implementation of the provisions of the Yazidi Survivors Law No. (for the year 2021, based on the provisions of Article (12) of the aforementioned law, taking into account the notes of the legal department in the General Secretariat of the Council of Ministers confirmed under its memorandum numbered (Md / Q/2/2/71/628/394 LC) dated August 31, 2121.
Fourth / Approval to participate in the subscription of the (sixth) general increase in the capital of the Islamic Development Bank, equivalent to (20229909/90) dollars, only twenty million two hundred and twenty-nine thousand nine hundred and ninety-nine dollars, for the period from 2023 to 2036, for the purpose of maintaining The voting power of Iraq is currently at (0.27%), provided that the payment mechanism is in the form of semi-annual installments starting from the date of (1 January 2023).
Fifth/ Approval of the recommendation of the Ministerial Council for Energy (111 for the year 2021), regarding the following:
- Approval of exempting the North Refineries Company from the provisions of paragraph (and-1) of Article (3) of the instructions for implementing the federal general budget for the fiscal year/2021; The purchase is through the purchase or leasing committees up to (100,000,000) dinars, only one hundred million dinars without a contract, according to what was stated in the Council of Ministers Resolution (344 of 2019), for the continuation of the rehabilitation and reconstruction of the refineries affiliated with the North Refineries Company.
Sixth/ Approval of the recommendation of the Ministerial Council for Human Development (8 for the year 2021), regarding the following:
1. Confirmation of the implementation of the Ministry of Education Resolution of the Council of Ministers (48 of 2020), issued under the letter of the General Secretariat of the Council of Ministers No. (ZZL/10). 1/7/11828) dated July 28, 2020, regarding the restoration of the scientific and literary system, and the abolition of the biological and applied system.
2. Amending paragraph (1) of the aforementioned cabinet decision, to start applying the scientific and literary system for the year (2022-2023) instead of (2021-2022), with the amendment of school curricula and the provision of financial allocations for printing books.
Seventh / Approval of the issuance of the second amendment system to the system of protocols No. (4) of 2016, based on the provisions of Clause (Third) of Article (80) of the Constitution, and Article (2) of the Protocols Law (26 of 2000).
Eighth/ Approval of the recommendation of the Ministerial Council of Economy regarding the approval of exempting the Iraqi-Jordanian Dujaila Company, which is affiliated to the Ministry of Industry and Minerals, from the debts it owes to the account of the Ministry of Agriculture, based on Legislative Resolution No. (44 of 1997). https://www.mawazin.net/Details.aspx?jimare=167674
Minister Of Oil: Iraq Seeks To Develop And Develop Bilateral Relations With Brotherly And Friendly Countries
Energy Economy News _ Baghdad Oil Minister Ihsan Abdul-Jabbar Ismail stressed that Iraq seeks to develop and develop bilateral relations with brotherly and friendly countries.
Ismail said during his presidency of the Iraqi side in the Iraqi-Emirati Committee, in a statement of the Ministry of Oil received by "Al-Iqtisad News", that "Iraq seeks, through the joint committees, to develop and develop bilateral relations with brotherly and friendly countries, through the conclusion of agreements aimed at establishing joint investment projects that Contribute to perpetuating and developing economic development in a manner that serves the interests of the people, as well as expanding horizons of cooperation in all other fields.
Ismail pointed to "the importance of these agreements in strengthening the role of the national economy on the international map."
The Minister of Oil continued, "Today's meeting represents the ministries, authorities and relevant authorities represented in this committee, in order to discuss the most important axes and topics that contribute to activating the joint investment sector, inter-trade, renewable energy, the dry channel between the Gulf and Europe, passing through Turkey, and the financial returns that he is expected to reap. Iraq from (transit) taxes, as well as joint cooperation in investment and development of Iraqi ports to be an important base for transporting and storing goods and international trade.
He went on to say: "In addition to discussing the importance of cooperation and coordination between the ministries and concerned bodies in providing the necessary facilities to provide a safe investment environment, and activating the mechanisms of movement and movement of investors, as well as other axes related to investment in the commercial and other sectors that will be included in the meetings of the Iraqi-Emirati Committee."
It is noteworthy that the Iraqi side in this committee holds its intensive meetings in the presence of the Chairman of the National Investment Commission, the Chairman of the Council of Ministers’ Advisors, the Prime Minister’s Adviser and representatives from the Ministries of Planning, Electricity, Transport, Trade, the General Company for Ports of Iraq in the Ministry of Transport, and the Directorate of Status Civil, Passports and Residence at the Ministry of Interior, the General Customs Authority in the Ministry of Finance, and the Studies, Planning and Follow-up Department at the Ministry of Oil, in order to prepare a working paper that includes the main axes of the agreement that it is hoped to sign between the governments of the two countries and which contributes to achieving common goals and interests.
Views 118 Date Added 09/16/2021 https://economy-news.net/content.php?id=26319
Oil Prices Rise After US Inventories Fall, And Brent Jumps To $75.64
Economie| 09:52 - 16/09/2021 Baghdad - Mawazine News: Oil prices jumped, Thursday, to continue their strong gains the previous day, after a larger-than-expected decline in crude oil inventories in the United States, the largest oil consumer in the world, while Brent rose.
Brent crude rose 18 cents, or 0.2 percent, to $75.64 a barrel by 05:20 GMT, after settling at a 2.5 percent gain the previous day.
US West Texas Intermediate crude rose 18 cents, or 0.3 percent, to $ 72.79, after settling at a rise of 3.1 percent on Wednesday.
U.S. crude and fuel stocks fell sharply last week, the Energy Information Administration said on Wednesday, as U.S. Gulf region refineries and offshore oil facilities continue to recover from Hurricane Ida.
The Energy Information Administration said crude stocks fell by 6.4 million barrels in the week to September 10 to 417.4 million barrels.
The storm caused global supply to drop for the first time in five months, but the market is set to start approaching balance in October as the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, a group called OPEC + implement plans to increase supply. /a43
https://www.mawazin.net/Details.aspx?jimare=167603
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad "Economy News" publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets for Thursday.
The selling price of the dollar is 148,000 per 100 dollars
The purchase price of the dollar 147,000 per 100 dollars
Views 103 Date Added 09/16/2021 https://economy-news.net/content.php?id=26322
To read more current and reliable Iraqi news please visit BondLady’s Corner: