KTFA:

Samson:  Deputy: Karbala’s 2020 budget is devoid of new projects

18:31 - 17/02/2020

Member of the House of Representatives for Karbala, Riyadh Al-Masoudi, confirmed on Monday that the budget for the year 2020 is free of referring any new projects in the province.

Al-Masoudi told Al-Maalouma that the budget deficit of 48 trillion dinars deprived Karbala of any projects in 2020 because no money was allocated to it to refer new projects in various fields.

He added, "Many of the projects that have been suspended for years have been resumed through the 2019 budget, which amounted to 65 billion for the regions development projects and 33 billion ministerial and investment projects."

He pointed out that "the new government will work on a plan to balance major projects and transfer funds to them, while the share of Karbala will be the same percentage of the projects for the year 2019 and will go to suspended projects in which work will begin in the form of successive periods."  LINK

MilitiaMan:  They have told us in recent past that they finished the 2019 Financial Management Law with an Amendment to it, that is to facilitate the 2020 budget. Sounds to me like this is suggesting they have what we are waiting on and that is the rate to which they will use to fund the projects.. I suspect that they can't keep this tiger held back much longer. I also suspect leaks will emerge!! imo ~ MM

Railman:  How can there be an RI when there is such a large deficit and no new projects? 

MilitiaMan:   I think they are about to change things, as this suggests they have the 2019 budget which, imo would reflect the FML amendment that will facilitate the new rate we expect to precede the 2020.. Thus, they seem to know already that there is a big change coming... imo ! This is a good one!! ~ imo ~ MM

Samson:  Confirmation of closing of the accounts of the merging brokerage firms opened with the approved banks

18th February, 2020Sawco,

To / All Approved Banks ( Account Closure )

We confirm what was stated in our numbered number (9/5/333) dated 5/8/2019 and
the attached requirements for granting the license to merging exchange companies for
the two categories (A, B), paragraph (9) of it, including ( closing all accounts of
brokerage firms buying and selling merged foreign currencies). Open at authorized banks
with the exception of ( parent company ) accounts.  

https://cbi.iq/news/view/1427

MilitiaMan:  The merging of companies, is a good thing in many cases. Merging Brokerage Firms that buy and sell foreign currencies. Be sure, that when there is a reason to merge there is value generated once completed, as merging tends to lead to growth... There will be demand for the IQD when they Re instate the IQD internationally imo. This appears to support that notion. The use of the words Brokerage Firms has me thinking growth in "Shares and or Currencies".. As we have learned there will be a synchronized effort with the ISX/NASDQ/FX/ATMs....then the NSCN's and fils.. ~  imo ~ MM

MilitiaMan:  Then we see this today below as well. They are seriously speaking of value. Well if they are going to get linked with the International Community and even with the NASAQ, the values of these companies will need to be transparent and have real value.. They NASDAQ has rules and they need to be followed, just as there are rules for Market Makers and the pricing of the shares. Same would hold true with the Forex, I suspect too.  This is a very good sign.. ~ MM

Disclosure ... enhances the value of financial institutions locally and internationally

Tuesday, February 18, 2020
Baghdad / Al-Sabah 

 The Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, stressed the need to disclose in the financial institutions, for his role in enhancing its value locally and internationally, and its capabilities and performance improvement and reach its service or restrictive goals that are in all circumstances to serve the national economy. 

Abdel Salam said: "Disclosure in economic institutions takes many forms and its follow-up is among the duties of the regulatory institution and society alike."

 The real value

Abdul-Salam added, "We have previously demonstrated the need to pay attention to the market value of shares and compare them with the real value and the equivalent calculated in accordance with the disclosure criteria, and more importantly, interest in disseminating and clarifying these values ​​in the performance contexts of the joint stock company, which has become known internationally and Arably to investor information or investor relations IR."

In the context of his responsibility and interest in the banking performance of Iraqi banks and their relationship with shareholders and investors, the Central Bank requested the registered Iraqi banks, whose shares are traded in the Iraq Stock Exchange, to pay attention to the bank's website through allocating an electronic window for investor relations (IR) on the bank’s website through which the publication Annual and quarterly reports, as well as publishing financial data analysis and comparisons with previous periods, as well as significant and influential contributions, and publishing analysis of performance and activity indicators and decisions of public body meetings And the number of shares traded and their market value.

 Disclosure mechanisms

And that "this procedure is considered an evolution in the Disclosure Mechanism," as most banks implement the above paragraphs and publish them in their annual report, which appears shortly before the meeting - and it is almost a historical financial report - at a time when the importance of disclosing the above paragraphs appears within a system. An electronic window in the bank is a guide to transparency and interest in the bank’s shareholders to inform them of performance indicators, especially when combined with trading indicators in the stock market and a catalyst to attract investors.

 Publish the data

Abdel Salam stressed that "the purpose of publishing the above data and information is a start to the financial and informational disclosure required by the participating banking companies, especially when demanding the publication of an analysis of the relationship and impact of financial variables among them and the relationship of the stock return and the earnings per share with the market value. Which gives a true picture of the value of the stock in light of Financial indicators".

 Stop trading

Abd al-Salam continued, "It remains to determine that violating this mechanism should not lead to stopping trading in the company's shares or imposing fines on the company itself, but rather resorting to more effective means of holding accountable the negligent," explaining, "the importance of this mechanism extends in disclosing the way to sites that It promotes unlicensed investment and is not based on legal approvals by the sectoral authority or by the Capital Market Authority in Iraq, by deluding society with unrealistic investment opportunities in global stock exchanges that adopt dealing without the lowest disclosure criteria.   LINK

MilitiaMan:  Now then they throw this into the mix today.. "FROM DELTA: FROM IRAQI TV...........By direct orders from the White House .. Washington is delaying the delivery of oil money to Baghdad.... WOW ANOTHER PRESSURE ON THEM ... DELTA"

MilitiaMan:  Well they'll need quick action alright. They stop getting oil money (USD) they'll need to stand on their own two feet with the IQD with an international rate that supports the economy and the value of their shares, currency, etc.. This is stacking up so very well and timely now.. With the New PM to be voted and presented soon, the CBI has her work cut out for an announcement imo... ~ MM

Quick action

Tuesday, February 18, 2020

Hussein Thagab 

Successful economic experiences that left a mark on the global level, and were able to achieve sustainable development according to the paths that they adopted to reach the goal they seek, and led to changing the reality of the economy to a new stage better than it was, and many experiences in different continents of the world can not be hidden from everybody.

And when searching for the merits of this matter, we found that the quick procedure that is adopted in the masses of the developed economy is the secret of success, as there is a great integration between the public and private sectors, and both of them perform their responsibilities in a completely and quickly without any complication, as the public sector works to organize the tracks of performance And in a manner that meets the aspirations of the authority that manages the economy, which defines the "private sector" implementing all the Economic plans .

 Successful global experiences are mentioned here and there continuously, and the call from economists and specialists about it rises to benefit from successful regional and international experiences, especially since Iraq has better ingredients than others, and it is almost unique to it from other countries of the globe, and here we must have a serious and national stand You go towards real work to translate the annual, five-year and ten-year development plans into Earth reality. 

This inevitably needs to improve the mechanisms for improving performance and avoiding all the complexity mechanisms that accompany the completion of business, and for the real and specific private sector to have an active role in the sustainable development process that it Iraq seeks. 

Today we urgently need to start a new stage that works to adopt the term "quick action", and thus a trend that needs to reform the work system in the public and private sectors, as the public sector is intended to perform faster in the process of doing business without any complication and in a way that supports development, On the other hand, there is a specific private sector that understands the size of the tasks entrusted to it, and is able to manage the helm of the Iraqi economy that is being monitored by the major international companies waiting to have the opportunity to be an active participant in the process of economic advancement and in a manner that benefits all the parties.

Reaching our development goals is not difficult, but we need serious directions that support investments and investors and attract them with their advanced technology and capital to be employed in serving the economy of the country and the world, and here our slogan must be "the Rapid procedure. "   LINK