More Iraqi News Monday PM 8-24-20
More Iraqi News Monday PM 8-24-20
TLM724 Administrator BondLady’s Corner
Parliamentary Finance: There are currency smuggling operations under the pretext of importing goods
Aug 24, 2020 at 10:29 am 33 Views Direction / Baghdad A member of the Parliamentary Finance Committee, Muhammad Sahib Al-Darraji, confirmed that there are currency smuggling operations under the pretext of importing goods.
Al-Darraji said, "The commodity-exporting countries are the first beneficiaries of the auction of selling the dollar, adding that the aim of the currency auction is to hit the economy and keep Iraq a consumer country."
He noted that "canceling the currency auction needs statesmen." LINK
Dollar Exchange Rate Today
Time: 08/24/2020 10:51:33 Read: 6,110 times {Baghdad: Al Furat News} Today, the foreign currency markets in Iraq recorded a stable exchange rate of the US dollar against the Iraqi dinar.
The prices of selling and buying dollars in exchange companies and offices were as follows:
The selling price of one dollar was 1232.5 dinars, or 123 thousand and 250 dinars per hundred dollars.
The purchase price of the dollar is 1222.5 dinars, or 122 thousand and 250 dinars per hundred dollars.
Foreign exchange rates, gold and crude oil until the preparation of this news:
The euro The global price: 100 euros = 118,00 pounds
The sterling The global price: 100 pounds = 131.03 dollars of the Turkish lira
The global price: 100 dollars = 734.35 Turkish lira
The price of an ounce of gold worldwide = 1933.80 dollars,
The price of a barrel of Brent crude oil = 44.46 dollars,
The price of a barrel of US crude oil = 42.42 dollars. LINK
Parliamentary Finance: The International Monetary Fund's Support For Iraq Is Subject To Two Conditions
Monday, 24 August 2020 3:51 PM Classification: Iraqi Baghdad / National News Center - A member of the Parliamentary Finance Committee, Jamal Cougar, announced today, Monday, two conditions for the International Monetary Fund to support Iraq with important loans and projects.
"The meeting that the Prime Minister, Mustafa Al-Kazemi, conducted during his visit to Washington with the Director General of the International Monetary Fund, Kristalina Georgieva, is very important to the Iraqi state," Cougar said in a press interview, followed by the National News Center.
He added, "The session held between Al-Kazemi and the International Monetary Fund is very important, in general, because when there is direct interaction from such institutions and the World Bank, it means that the situation is stable, which prompts these institutions to encourage countries with which they have relations to support Iraq with projects or loans." Or investments or charitable projects such as donations.
Cougar explained, "We hope that Al-Kazemi has been able to persuade these institutions to support Iraq and obtain infrastructure projects from them," noting that "the International Monetary Fund announced a while ago that it was ready to support Iraq with an amount of about $ 2.2 billion."
Cougar continued, "But so far, the amount of money from the International Monetary Fund to support Iraq has not been determined."
And a member of the Finance Committee stated that "there are two conditions for the International Monetary Fund to support Iraq, namely:
The first is for that money to go to infrastructure projects, not to salaries and the operating budget, and the second is for the atmosphere to be suitable for the establishment of these projects, meaning providing an appropriate security and investment environment. https://nnciraq.com/39800/
Stock Exchange: The Second Session Ends In Green
Iraq Stock Exchange Market Economy News – Baghdad On Monday, the stock market index rose by 0.23% by the end of the second session of this week.
Nine profitable companies contributed to adding the green color to the index, led by Karbala Hotels Company’s shares with 9.33% and the shares of the National Bank Company by 2.99%.
During Monday's session, 9.9 billion shares were traded, worth 4.2 billion dinars.
But the index of the session was not without the losing companies, as it amounted to 3 companies, and the Islamic Tender Bank Company was 5.88% and the Assyrian Bank Company's shares were 3.70%.
Foreign investors bought 149 million shares, at a value of 129 million dinars.
Number of observations 81 Date of addendum 08/24/2020 https://economy-news.net/content.php?id=21585
The Union Of Arab Banks Discusses Ways To Support Central Banks
Monday 24 August 2020 52 Capitals / follow The General Secretariat of the Union of Arab Banks in Beirut will organize, on August 24 and 25, a conference entitled “Central Banks Support for Capital Markets in Light of the Pandemic Corona. "
The conference will witness the participation of Arab and European stock market markets, banks, Arab central banks and the International Monetary Fund, with Arab, European and American participation, according to the Saudi News Agency, "SPA".
The Secretary-General of the Federation, Wissam Fattouh, stated that "the conference will be attended by senior officials in central banks, heads of Arab stock exchanges and Arab and international capital markets and an elite group of decision makers and senior banking and financial leaders."
He indicated that "the conference will shed light on the reality of the Arab financial markets, especially the capital markets, and the procedures for developing and activating them, and long-term financing mechanisms in light of the Corona crisis."
"It also aims to focus on the role of Arab central banks in developing and activating capital markets and stimulating greater corporate involvement in them," he added. LINK
The Representative Of Iraq In The Union Of Arab Banks, Ziad Khalaf, Will Deliver His Speech Tomorrow At The Most Important Conference On Capital Markets In Light Of Corona
Chairman of the Board of Directors of the Union of Arab Banks, Ziad Khalaf
Banks Economy News – Baghdad The representative of Iraq on the Board of Directors of the Union of Arab Banks, Chairman of the Board of Directors of the International Development Bank, Ziyad Khalaf, will deliver his speech tomorrow at the conference "Central Banks Support for Capital Markets in Light of the Corona Pandemic" with great participation by the International Monetary Fund and Arab central banks.
And launched today, and for two days, the banking conference brings together the Arab and European stock markets, banks, Arab central banks and the International Monetary Fund. With the participation of Arab, European and American, one platform brings them together to talk about capital markets, on August 24 and 25, under the title “Central banks' support for capital markets in light of the Corona pandemic .”
The Secretary General of the Union of Arab Banks, Wissam Fattouh, said, “This conference is the first participation and cooperation with the Federation of Arab Stock Exchanges, the International Monetary Fund (IMF) in Washington and the Frankfurt Financial Center, with the participation of the United States of America through American correspondent banks, including : Wells Fargo , JP Morgan Chase , MUFG , BNY Mellon, in addition to the Federation of Capital Markets in Europe and their headquarters in London, through visual communication .
He added: “The Bahrain Stock Exchange represented by its Chairman Sheikh Khalifa bin Ibrahim Al-Khalifah will participate in the conference, the Saudi Stock Exchange (Tadawul) represented by its Chairman Sheikh Khaled Abdullah Al-Hussan, the Amman Stock Exchange represented by its functional Chairman, the Egyptian Stock Exchange represented by its Chairman and Chairman of the Board of Directors of the Arab Federation of Exchanges Muhammad Farid Saleh, In addition to senior officials in central banks, heads of Arab stock exchanges, and Arab and international capital market authorities .
A group of decision-makers and senior banking and financial leaders will speak at the conference, including Sheikh Muhammad Al-Jarrah Al-Sabah (Chairman of the Board of Directors of the Union of Arab Banks), Dr. Joseph Tarabay (Chairman of the Board of Directors of the International Union of Arab Bankers), and Mr. Hubert Bath (Managing Director of the Frankfurt Main Finance Corporation) Dr. Jihad Al-Wazir (Director of the Capital Markets Department at the International Monetary Fund), in addition to the heads of capital markets from the United States of America, Europe and the Arab world .
The conference sheds light on the reality of the Arab financial markets, especially the capital markets, and the procedures for developing and activating them, and long-term financing mechanisms in light of the emerging crisis (Covid 19).
It also aims to focus on the role of Arab central banks in developing and activating capital markets and stimulating greater corporate involvement in them .
The leaders, competencies and experiences participating in this conference will come out with practical recommendations and innovative ideas that will contribute to achieving the desired goals .
Number of observations 12 Date added 08/24/2020 https://economy-news.net/content.php?id=21587
Does The Prime Minister Have The Right To Withdraw The Governor’s Hand And Freeze His Work? A Legal Expert Answers
Political Monday 24 August 2020 | 09:24 am| Views: 255 Law expert Ali Al-Tamimi confirmed that the prime minister may withdraw the governor’s hand and freeze his work after the formation of an investigative committee proving his negligence, while there is no authority for the prime minister to dismiss him according to the constitution.
“The dismissal of the governor according to Law 21 of 2008 in accordance with Article 7 in its paragraphs, will be For one of the reasons, including waste of public money, lack of integrity, exploitation of the position, or loss of membership conditions, by questioning at the request of one-third of the members of the provincial council, and according to the case of lack of satisfaction with the governor's answers, the provincial council votes by an absolute majority to determine a new session to vote on dismissal by an absolute majority in One of the reasons for the dismissal, which is stipulated in Article 7 of Law 21.. of 2008, which applies to the deputies of the governor as well, and this method is suspended after the dissolution of the provincial councils. "
He added:"The Prime Minister may request Parliament to dismiss the governor for one of the reasons for the dismissal. If the parliament votes by a simple majority, the governor is dismissed, and in accordance with Article 7 of the Provincial Councils Law 21 of 2008, the governor continues his work to conduct business until the Supreme Administrative Court approves that. "
The Prime Minister may withdraw the hand of the governor or freeze his currency according to the State Employees Discipline Law 14 of 1991 and according to Article 78 of the Constitution, after the formation of an investigative committee to prove the governor’s negligence. The joints of the executive authority and the governor are part of it, and also what Article 2 of the Provincial Councils Law stipulated.
He pointed out:The appointment of the governor, with the absence of the provincial councils, is through the prime minister submitting a proposal to the parliament, which votes by an absolute majority on the appointment. As for the governor’s resignation, it is submitted to the prime minister according to what the State’s Shura Council has settled on due to the absence of provincial councils, which were concerned with that. " https://aynaliraqnews.com/index.php?aa=news&id22=137736
Parliamentarians And Economists Direct Sharp Criticism Of The Kazemi Government For Conducting Matters On A Monthly Basis
Follow-up Monday, August 24, 2020 04:33 PM Parliamentarians and economists have sharply criticized the government for running things on a monthly basis and directing all revenues to the salaries of employees and retirees, without providing allocations for vital projects.
A government source close to the Prime Minister, Mustafa Al-Kazemi, said, "The government has been working for months with a monthly budget system that provides salaries for employees and retirees only, and will continue in this manner for the remainder of the year until the new fiscal budget for 2021 is approved."
The source added, "The funds currently available come from the proceeds of the sale of oil, revenues from renting state real estate and taxes, in addition to the funds available from last year."
He pointed out that the Board of Supreme Audit is the one that supervises these funds that go to salaries and operating expenses, which is a purely consumer case, as there is no development money available to the government, as all projects to build schools, hospitals and other development plans have been postponed.
But with the end of the current circumstance and the availability of a treatment for the Corona virus, work will be done to prepare a list of all monthly imports and expenditures, which is what is being worked on now between ministries and the Prime Minister to present them as a disclosure to Parliament.
Salam Sumaisem, an economic expert, said, "Iraq is currently suffering from a financial policy that is not good, and its only goal is to provide the salaries of employees and retirees. It is also not transparent, as no one knows the truth about the numbers that the government announces that it has collected from various sectors."
For his part, Jamal Cougar, a member of the Parliament's Finance Committee, said, " During the past weeks, the Al-Kazemi government has begun preparing a draft budget bill for next year 2021, but it may witness a financial deficit due to the increase in expenditures at the expense of oil revenues."
For his part, Hanin Qaddo, a member of the "Al-Fateh" coalition, criticized the budget delay, explaining that this measure disrupted the lives of millions of Iraqis, especially contract holders and wage earners (workers) who are waiting for job grades to be issued and appointed to them.
Iraq, which is the second largest oil exporter in OPEC, relies on revenues from selling crude to finance about 95% of state expenditures, which is the reason that prompted it, after the drop in oil prices, to go towards domestic and foreign borrowing bills to finance the fiscal deficit during the current year, which worsened after The new Coronavirus pandemic. LINK
Deputy: Parliament Will Begin Its Sessions On The Third Of Next Month, And The First Of Its Topics Is The Election Law
Baghdad Post Monday, 24 August 2020 01:19 PM Badr Al-Ziyadi, a deputy from the Saeron Alliance, said: “The legislative recess for the House of Representatives is about to end, and the House of Representatives will begin holding its sessions on the third of next September.”
He added, "The first regular sessions will be devoted to discussing election laws, the Federal Court, the general budget and the issue of Turkish attacks on Iraqi lands." Noting that "the parliamentary blocs will discuss during the session the election date set by the Prime Minister and the possibility of advancing the date."
For his part, MP Muhammad al-Baldawi explained: “The House of Representatives is waiting to resume its sessions continuously, in light of the presence of a number of important issues that need discussion, including the Corona pandemic, the Turkish attacks on Iraqi lands and popular demonstrations in the provinces, as well as the approval of important legislation, including the appendix of distribution Multiple constituencies to complete the electoral law, the federal court law and the unified pension law.
He added, "Parliament has become far from the air due to the lack of holding its sessions." Stressing, "the necessity of holding the sessions in consideration of the health aspect, and there is nothing wrong with half of the 329 deputies or more than that to resume the sessions." Noting that "the agenda of the first session of the new legislative chapter has not been determined yet."
He explained that "the first sessions of the new legislative chapter will be devoted to passing the Federal Court Law and the appendix of the multi-district distribution to complete the new election law ." Returning to the fact that "the electoral constituency will be decided by consensus between the political blocs." LINK
Parliamentary Finance: There Is No Problem With Securing Employees' Salaries Until The End Of The Year
16:44 - 08/24/2020 Information / Special ...The Parliamentary Finance Committee confirmed, on Monday, that the salaries of employees will be insured until the end of this year.
A member of the committee, Ahmed Hama, said in a statement to (the information), that "the salaries of employees are a red line that cannot be compromised and will be secured during the remaining months of this year," pointing out that "the salaries of employees may witness a delay in receiving them during the coming months due to the delay in liquidity." Financial and technical measures.
He added that "the central bank has promised to secure the salaries of employees until the end of the year and there is no problem with it," noting that "the existing funds are able to fully secure salaries."
The Parliamentary Economic and Investment Committee confirmed, earlier, that the government of Prime Minister Mustafa Al-Kazemi is still relying on high oil prices to end the financial crisis.
https://www.almaalomah.com/2020/08/24/491527/
Blasschaert On Wednesday Submitted A Report On The Latest Developments In Iraq To The Security Council
The United Nations Special Representative, Head of the United Nations Assistance Mission for Iraq (UNAMI), Jenin Hennes Blasschaert, will present a report on the latest developments in Iraq to the Security Council, on Wednesday.
A statement, a copy of which was received by Radio Noa, stated that "Plasschaert will present on Wednesday, the 26th of August, a briefing to the United Nations Security Council on the latest report on UNAMI and the latest developments in Iraq." https://www.radionawa.com/all-detail.aspx?jimare=21682
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