KTFA:

Clare: : The Iraqi parliament includes the emergency support law on the agenda of the Tuesday session

2022-05-30

The Iraqi parliament has included the discussion of the emergency food security support law on the agenda for tomorrow's session.

According to the one-paragraph agenda; That the Finance Committee will report and members of Parliament discuss the emergency support law.

On May 28, the leader of the Sadrist movement, Muqtada al-Sadr, called on the Iraqi parliament to expedite the vote on the emergency food security support law, stressing that the vote should be kept away from "partisan, sectarian and nationalist bids." LINK  

MilitiaMan:  Sadr up to the plate to make sure there is expediency.. Fresh in their faces tonight.. I like it.. The vote is in the table and he wants it done..~ MM

MilitiaMan:  The Industrial Bank needs a new financial allocation within the budget to open new branches.. If / when it is approved..? (See article below)  What is that financial allocation they speak of?

 I suppose at this juncture since they speak of the budget and I'll suppose they are talking about the 2022 Budget Law, we can presume that it is about a new exchange rate within that budget.

Since the emergency food law is slated along with the 2022 Budget in the short term and them being synonymous to each other, they to, are awaiting to be exposed. Fascinating how this is coming together now.. imo ~ MM 

Samson:  A government bank announces an increase in the industrial growth rate due to the rise in the price of the dollar

29th May, 2022

The Industrial Bank revealed, today, Sunday, an increase in the rate of industrial growth in the country due to the high exchange rates of the dollar, while stressing that the opening of new branches in the provinces needs a financial allocation within the budget.

The Director of the Bank, Bilal Sabah Al-Hamdani, said, “The Central Bank’s initiative is excellent for medium and large projects, and its duration is 15 years, and the average interest is 2%, and for large projects 3,” noting that “we have started working on the initiative, but Iraq needs thousands of factories and we are trying to provide loans.” hundreds of factories.

He pointed out that "the Industrial Bank is self-financing and has capital to lend to customers, but there is an increase in the size of the national industry and the demand significantly," noting that "the previous years, the request for loans came for projects under establishment and new, with limits of 100-150, and currently the demand reaches thousands, and this because of the exchange rate change, which led to the importer being expensive and the local product being cheaper than the importer, which made businessmen, traders and importers think about setting up factories inside Iraq.

He added, "The bank has detection committees before and after granting the loan and we give documentary credits that we import to the production line or if they are raw materials and in construction loans, it is done according to the stages of construction and completion," noting that "the delay in payment is usually from the owner of the plant and some of them are due to regional issues."

Like the edible oil factory that used to import the raw material from Ukraine, and today the import has been stopped, and the factory is resorting to other countries where the raw materials are more expensive, and this is beyond our control, and there is also mismanagement, but we in the bank are in control of the issue.”

He added, "Most of the factories began to rise at the rate of growth for industry, but the average number of factories is few and we need thousands of factories. We are now in the process of establishing hundreds only. With time, and if the budget is approved and an amount is allocated to the bank, some branches can be opened in some provinces because it does not have branches in all provinces." And this is one of the suffering,” explaining that “the Industrial Bank owns branches in Baghdad, Karbala, Babylon and Basra only, and the opening of new branches that need allocations and sums of money within the budget.”   LINK

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Jerry1971:  THANKS MM FOR YOUR CONTINUING GREAT ANALYSIS ON THE STUDY OF THE IQD

THE FSL AND NOW EVEN THE BUDGET OF 2022 ARE HOT TOPICS ON THE AGENDA IN THE IRAQI PARLIAMENT …IT CAN POSSIBLY GO BOTH WAYS THE FSL AND BUDGET OR ONE WAY MEANS THE FSL GETS VOTED UPON AFTER THE 2ND AND 3RD READING

THAT WILL HOPEFULLY TRIGGER OFF THE NEW EXCHANGE RATE FOR THE IRAQI DINAR FOR THE CITIZENS AND WE DINIARIANS THIS WHOLE SENARIO IS LOOKING FANTASTIC. 

TIME IS RUNNING OUT FOR THESE IRAQI POLITICIANS TO DO SOME THING SOONER THAN LATER FOR THEIR CITIZENS

MilitiaMan:  There is definitely a push to get the reforms done.. The articles all show it to be the case and the world having been involved through the World Bank, IMF, AMF, UST, etc., is and or was the catalyst to push the politic side into high gear or the consequences may have been very dire.

The CBI has not come this far, nor has the infrastructure with the e-government, e-payment and settle systems, automation of the ports and borders for taxation, digital transformation for interconnectivity not only regionally but internationally... Lets see what the days bring us,

 I know today there are many articles that have data that is integral to our study.. imo ~ MM

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Samson:  Economist: Iraq Is Able To Revive Its Economy Through A New Road Map

30th May, 2022

The economic expert Wissam Al-Tamimi confirmed that Iraq possesses large areas that can be exploited and prepare a new road map to make it a corridor for goods coming from other countries towards the rest of the world, whether in Asia or Europe, to achieve a great economic return for each shipment entering Iraq.

Al-Tamimi told Al-Maalouma, "Iraq has a good road network, but it is no longer adequate, as Baghdad needs the fourth ring road to create more than 5 new residential areas, as its revival will eliminate a large percentage of the housing crisis, in addition to the fact that the road It can be exploited to rid Baghdad of the traffic congestion of large load wheels, in addition to the possibility of establishing factories, rest stations and commercial buildings on the side to achieve a good economic return for the state and the citizen.

He added that "Iraq urgently needs a new international road linking the north with the south, center and west to make it a corridor for goods coming across the sea towards Turkey, Syria, Jordan and the rest of the European countries, and it is possible to put up such projects for investment or it can be paid through oil."

Al-Tamimi explained, "There are a lot of ingredients and qualifications to make Iraq an economic gateway linking Asia with countries to Europe and the rest of the countries, where it is possible to invest the financial abundance to come with giant companies that establish a new road network that will enter the state with great resources and be an opportunity to eliminate unemployment and the housing crisis, and make the country one of the most important countries Industrial Arabic.   

MilitiaMan:  They are clearly telling us they are opening up to the international world. The infrastructure build out will require it and they know. Once the new exchange rate or financial allocation is put in to motion, the floor gates of growth will ensue..

The borders are automated and ready imo, the CBI has had a good report from the IMF and World Bank. Their Credit Rating is about imo to increase again. All tell tale signs of what is to come.. imo.. ~ MM

They are obviously show casing their new wings to fly into the international business realm... They know they have the massive resources to link the globe with the road map in place.  Financial Abundance is going to change the playing field.. We all can appreciate that. Just as giant companies will. imo ~ MM

Samson:  Al-Jabri informs the religious references in Najaf about the file of food security and high prices globally and locally

05/30/2022 11:53:33

The Undersecretary of the Ministry of Commerce, Sattar Al-Jabri, visited Najaf Governorate and met with religious references, Grand Ayatollah Sheikh Muhammad Ishaq Al-Fayyad and Grand Ayatollah Sheikh Bashir Al-Najafi at their residence.

Al-Jabri said in a statement that Al-Furat News Agency received a copy of, that "the visit comes to emphasize the main role of the religious authority in society and the need to inform it of the important files that pertain to the people, including the file of food security and the ration quota for the purpose of evaluating default and working with transparency, as well as discussing the repercussions of the war." The Russian-Ukrainian and its cause of high prices globally, including prices in Iraq." 

The Undersecretary of the Ministry of Commerce indicated that he "discussed with religious references the most important challenges facing the country in the current period and the need to close ranks and end the political problems that stand in the way of providing the ministries' needs and obstructing work and providing services to citizens."

Al-Jabri indicated that "the meeting also witnessed an explanation of the ministry's work and a discussion of the general situation in the country and issues related to the commercial sector, stressing the importance of expediting the approval of the budget to meet the needs of citizens and provide strategic food stocks."   LINK

 MilitiaMan:  Again there is a focus on the importance of the 2022 Budget to meet the needs of the Citizens. We know by the CBI financial records they have already printed currency to work with the new exchange rate. imo. ~ MM

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Samson:  A government bank announces an increase in the industrial growth rate due to the rise in the price of the dollar

29th May, 2022

The Industrial Bank revealed, today, Sunday, an increase in the rate of industrial growth in the country due to the high exchange rates of the dollar, while stressing that the opening of new branches in the provinces needs a financial allocation within the budget.

The Director of the Bank, Bilal Sabah Al-Hamdani, said, “The Central Bank’s initiative is excellent for medium and large projects, and its duration is 15 years, and the average interest is 2%, and for large projects 3,” noting that “we have started working on the initiative, but Iraq needs thousands of factories and we are trying to provide loans.” hundreds of factories.

He pointed out that "the Industrial Bank is self-financing and has capital to lend to customers, but there is an increase in the size of the national industry and the demand significantly," noting that "the previous years, the request for loans came for projects under establishment and new, with limits of 100-150, and currently the demand reaches thousands, and this because of the exchange rate change, which led to the importer being expensive and the local product being cheaper than the importer, which made businessmen, traders and importers think about setting up factories inside Iraq.

He added, "The bank has detection committees before and after granting the loan and we give documentary credits that we import to the production line or if they are raw materials and in construction loans, it is done according to the stages of construction and completion," noting that "the delay in payment is usually from the owner of the plant and some of them are due to regional issues."

Like the edible oil factory that used to import the raw material from Ukraine, and today the import has been stopped, and the factory is resorting to other countries where the raw materials are more expensive, and this is beyond our control, and there is also mismanagement, but we in the bank are in control of the issue.”

He added, "Most of the factories began to rise at the rate of growth for industry, but the average number of factories is few and we need thousands of factories. We are now in the process of establishing hundreds only.

 With time, and if the budget is approved and an amount is allocated to the bank, some branches can be opened in some provinces because it does not have branches in all provinces." And this is one of the suffering,” explaining that “the Industrial Bank owns branches in Baghdad, Karbala, Babylon and Basra only, and the opening of new branches that need allocations and sums of money within the budget.”  LINK 

MilitiaMan:  The Industrial Bank needs a new financial allocation within the budget to open new branches.. If / when it is approved..? What is that financial allocation they speak of? I suppose at this juncture since they speak of the budget and I'll suppose they are talking about the 2022 Budget Law, we can presume that it is about a new exchange rate within that budget. Since the emergency food law is slated along with the 2022 Budget in the short term and them being synonymous to each other, they to, are awaiting to be exposed. Fascinating how this is coming together now.. imo ~ MM 

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Samson:  Parliamentary legal intends to enact the most important law regulating the relationship between the center and the region..there are no problems after it

29th May, 2022

The Parliamentary Legal Committee announced today, Sunday, its intention to legislate a number of important laws that are intended to strengthen the work of the next government, noting that among them the oil and gas law.

Committee member Aref Al-Hamami said in an interview with (Baghdad Today), that "there are bills that have been on the shelves of Parliament for years, and therefore it has become necessary to pass them and reformulate them."

He added that "the Federal Oil and Gas Law is the most important draft of laws that we intend to pass to regulate the oil relationship between the center and the region."   LINK

MilitiaMan:  The timing of this is by no coincidence. It has been needed for this at the end game. It is the most important draft law that has been on the shelves for many years already, therefore, when they have the seated government or the work around in place it too will be needing the new exchange rate applied, imo.. We can see now that the push for Iraq to take care of their citizens not only by passing the emergency security food law and the 2022 budget law, they will legislate the FOGL... A game changer for the future security of their food. They'll have income in perpetuity to make sure of it.. imo.. Likely this is slated to be timed accordingly. imo This looks great.. ~ MM.

Al-Rasheed Bank of Iraq outside international sanctions after 30 years  LINK

MilitiaMan:  The bank will enjoy the confidence of the global system and international financial markets, specifically  by collection credit lines for foreign trade. They are not going to be doing that with a program rate. The lifting sanctions on the bank is to allow interconnectivity to important countries that are centers of international banking and related financial transactions. Then add in the likes of VISA dealing with the CBI. We are watching the convergence of a country in renaissance.. IT is going to be an amazing event to be apart of, even if from the outside looking in.. ~ MM

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Samson:  Al-Sahlani: The Coming Days Will Witness A Breakthrough In The Political Crisis

30th May, 2022
The former representative of the Al-Fateh Alliance, Walid Al-Sahlani, confirmed that the coming days will witness a breakthrough to the current political crisis, pointing out that the framework initiatives, international pressures, resolving the situation from some parties of the Triple Alliance, and the Kurdish dialogues all lead to détente.

Al-Sahlani told Al-Maalouma, "The coordination framework launched many initiatives in order to solve the political blockage, especially since the political process cannot be saved in this way and therefore does not serve the interest of the people and affects the country in general." He added that "the caretaker government is tied and cannot achieve any economic renaissance for the country, and therefore it has become imperative to end the current crisis, which prompted the coordination framework to present initiatives to resolve the political blockage."

And he indicated that "the current real problem lies in naming the largest bloc between the coordination framework and the Sadrist movement, or by the tripartite alliance that the Sadrist movement calls for," noting that "there is international pressure to resolve the current situation, and this began with the Kurdish dialogue to end the crisis." He pointed out that "there is a solution to the crisis on the part of the tripartite alliance, and it is likely that the next few days will witness a breakthrough in the political crisis."   

MilitiaMan:  Just like we talked about lately. We knew there were meetings on this weeks ago. The international pressures have been applied and it looks as the effects are starting to show. I have not seen Sadr move the line in the sand of Maliki having anything to do with the government. I would not be surprised that the PM in Iran had words on the matter. There comes a time were things need to be done for the larger picture. Maliki's portion of the canvas may have been framed out.. We shall see. Imo ~ MM