Iraqi News Tuesday AM 12-1-20
Iraqi News Tuesday AM 12-1-20
TLM724 Administrator BondLady’s Corner
White Paper Under An Expert Microscope
Tuesday 01 December 2020 33 Baghdad: Morning The Council of War and Peace organized an economic dialogue session, which dealt with the reality of the White Paper being a governmental economic project to address the accumulations of confusion that the various sectors witnessed during the past decades.
Professor of Economics at the University of Baghdad, Dr. Asaad Al-Saeedi addressed some of the paragraphs of the paper and said: “The paper, as a government project, which was prepared by public and private institutions, reviewed economic problems, which need 3-5 years to be addressed and others that need 10-15 years, in addition to the availability of a strong will to implement Their terms. "
Economic performance
"One of the causes of failure in economic performance may not be the public sector, as it was stated in the paper that there are global experiences in which the public sector has achieved great success, as is the case in Russia and China," he added.
He added, "The paper referred to the great port of Faw and its importance, which is of utmost importance to the role of this economic edifice in the regional and international economy and before it local, as efforts must be combined to establish this economic milestone as soon as possible and within the referral periods."
Energy sector
He cautioned that "the paper was concerned with oil and gas production, and here it must focus and chart a path to develop the performance of the energy sector by developing transformational industries that deal with raw products and raise their value in the local and international market."
He pointed out that "the trend towards reducing salaries leads to a decrease in purchasing power, which in turn leaves negative effects on the reality of local production, as well as the local market, which needs to be prosperous and interacts with national production. He also demanded that the appropriate atmosphere be created so that the local product can compete." Imported from neighboring countries at least. "
The import platform
Economist Basem Jamil Antoine stressed in his intervention during the session the importance of the paper standing with the activation of national production, and the paper must work to organize the import approach, and he also stressed work towards attracting the cash mass hoarded in homes to the banking system, to be invested in the sustainable development process. " LINK
The Board of Directors of the Center for Banking Studies at the Central Bank holds its first meeting for the year 2020
December 01, 2020 The Board of Directors of the Center for Banking Studies at the Central Bank held its first meeting for the year 2020, and the meeting was chaired by Dr. Munther Al-Sheikhly, Deputy Governor of the Central Bank, with the participation of all members.
The Council discussed the topics included in its agenda, including the training program for the next year, which was prepared on the basis of the training gap in cooperation with the departments of the Central Bank, and the Council discussed the most prominent achievements that the center has achieved during this year despite the challenges it faced due to the Corona pandemic.
The members of the Board approved the proposals submitted by the Center’s management, especially with regard to amending the Center’s Law No. 36 of 1999 in accordance with the developments in the training environment and keeping pace with international developments in this field.
Central Bank of Iraq December 1, 2020 information Office https://cbi.iq/news/view/1612
The Head Of The Parliamentary Economic And Investment Committee Supports The Initiative Of The Central Bank And Calls For Cooperation To Make It A Success
01/12/2020 Deputy Ahmed Salim Al-Kanani, head of the Parliamentary Economic and Investment Committee, suggested that the Iraqi Central Bank initiative regarding housing, service, industrial and agricultural projects would contribute to moving the Iraqi market and directing it in a manner that would contribute to increasing local investments and creating new job opportunities in the private sector that suffers from a major recession due to the Corona pandemic and so on. Accompanied by economic repercussions at the local and international level.
Al-Kinani said that the Central Bank launched its initiative in exceptional and complex economic conditions, as well as identified the banks and the exchange mechanisms through which these loans are granted to the groups covered, indicating that the mechanisms for granting loans must be accompanied by an effective and clear monitoring mechanism and do not accept confusion and interpretation in the expense of those funds by borrowers for projects It can benefit both the national economy and the citizen.
The head of the Economic and Investment Committee added that this initiative should be kept away from speculators in public money who claim to be businessmen and investors, since there are previous experiences in this field that led to a large waste of public money and its exploitation by beneficiaries whose only concern is to make profit at the expense of developing the Iraqi economy and making it more Effectiveness to face economic crises.
Al-Kinani stressed that his committee, on its part, will play its supervisory role to ensure the success of this initiative and guide it properly, calling on the central bank to cooperate and inform the committee of the details of the initiative, as the committee has several proposals that can contribute to evaluating this initiative and its monitoring mechanisms. House of Representatives Media Department 1/12/2020 LINK
Legal Move To Investigate Corruption Of The Currency Sale Window
Pratha News Agency61 2020-11-30 A document was published today, Monday, showing the Public Prosecution Office directing a letter to the Rusafa Investigation Court, which is concerned with issues of integrity, money laundering and economic crime, to take the necessary legal measures to investigate violations of the currency sale window.
According to the document, the Presidency of Public Prosecution asked the court specialized in issues of integrity and money laundering to review what was received from the parliamentary sockets about the currency sale window issued by the Central Bank of Iraq, and to conduct a fundamental investigation as soon as possible.
It is noteworthy that MPs confirmed earlier that the window for selling the currency is a gateway to depleting hard currency and smuggling it abroad in light of collusion with some intermediary banks and influential political parties, stressing that most of the credit bills are forged. http://burathanews.com/arabic/news/381568
In The Document .. Public Prosecution Opens An Investigation Into The Currency Auction And The Validity Of Its Bills
Time: 11/30/2020 14:16:54 Read: 2,301 times {Baghdad: Al Furat News} The Public Prosecution opened an investigation into the request submitted by the member of the Parliamentary Finance Committee, Muhammad Al-Darraji, regarding the window for selling the currency by the Central Bank and the invalidation of his bills.
It is noteworthy that a member of the Parliamentary Finance Committee, Muhammad al-Darraji, filed a lawsuit requesting an investigation into the window for selling the currency.
Al-Darraji indicated in his request submitted to the Chief Public Prosecutor, that "information has been reported about the incorrect invoices of documentary credits for banks dealing with selling currency, and the Iraqi Central Bank's failure to impose fines and disclose incorrect documents submitted by companies and beneficiaries."
He stressed, "There is no match in the value of customs and tax financial imports with the value of the sums transferred through the dollar sale window in the currency sale window," noting at the same time that "the central bank and the customs office have not provided a list of the names of banks and people who have evaded these obligations."
Al-Darraji stressed, "These breaches have caused damage to the national economy, led to smuggling of hard currency and reduced revenues, as well as the adoption of an unreal value for the dollar against the Iraqi dinar, which led the government to pursue a borrowing policy that would destroy the Iraqi economy." LINK
In the document .. Public Prosecution agrees on the legal procedures to investigate the window of currency sale
Monday 30, November 2020 14:38 | Political Views: 187 Baghdad / NINA / The Public Prosecution Office agreed to open an investigation regarding the window for selling the currency by the Central Bank and the invalidity of its invoices, following the request submitted by a member of the Parliamentary Finance Committee, Muhammad Al-Darraji. https://ninanews.com/Website/News/Details?key=873492
Tlm724: It's about time, do it !!!
Toby: Timmy Agree lets hope they follow through, they just keep dropping the ball in fighting the corruption. Look at the new Prime Minister he dropped the ball some time ago. We thought he was going to arrest the corrupt and correct the situation, but the different parties got to him and changed his mind. Looks like will be long time before we see any results maybe years away. Anyway I hope you had a wonderful Thanksgiving. Toby
The Launch Of Electronic Collection Throughout Iraq At The End Of Next Year
Tuesday 01 December 2020 95 Baghdad: Wafa Amer The Ministry of Construction, Housing and Public Municipalities confirmed that the project of electronic collection of housing fund loans will be launched throughout Iraq at the end of next year.
According to the Director of the loans in the fund of the Ministry of Ahmed Hashim Housing special permit for "morning": that the Fund and in the framework of the work according to the e - governance program given by the ministry of extreme importance, the electronic collection project was launched through the central bank under a plan to automate the lending process , all of the adoption of the credit card Licensed by the Central Bank and canceling all cash transactions in the future.
He added that the work in the first phase of the project began at the beginning of last October in Baghdad and gradually, while the project will be completed by the end of next year 2021, to be applied in all governorates of the country.
Hashem pointed out that the electronic collection project aims to relieve the burden of citizens, as this procedure will prevent the borrower from attending the fund’s headquarters or its branches, as he can pay electronically through his credit card operating in the country, in addition to spreading the culture of electronic dealing and accelerating the completion of transactions and eliminating red tape and corruption The financial result from cash dealing, in addition to the ease of issuing reports and preserving the borrower's rights by creating a portfolio for each borrower with the fund.
On a related level, he explained that the Fund opens the electronic submission of the disclosure request on the 23rd of each month, while the submission continues until the end of the month or until the prescribed quota is exhausted, as the date of the disclosure is booked through the website. LINK
Barzani: We Fulfilled All Our Obligations To Reach A Constitutional Agreement With Baghdad
Time: 12/01/2020 13:58:18 Read: 2,210 times (Baghdad: Al Furat News) The President of the Kurdistan Regional Government, Masrour Barzani, today, Tuesday, received the British Minister of State for the Middle East and North Africa James Cleverley, the British Minister of the Armed Forces James Hebe and the British Ambassador to Iraq Stephen Hickey.
The media office of the regional government president said in a statement, Al-Furat News received a copy of it, that "in the meeting, ways to enhance relations between the Kurdistan region and Britain were discussed.
The British delegation indicated, according to the statement, that "the British view with great respect and appreciation the sacrifices of the Peshmerga forces and their response to terrorism, and the delegation expressed the UK's readiness to enhance the prospects for cooperation with the region in all fields, especially in the commercial field and increase investment in the Kurdistan region."
The Prime Minister thanked Britain and valued its role in helping the Kurdistan region. He also shed light on the relations between the Kurdistan region and the federal government. Barzani emphasized that " LINK
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