More Iraqi News Saturday Late PM 12-11-21
More Iraqi News Saturday Late PM 12-11-21
TLM724 Administrator BondLady’s Corner
Finance Minister: The White Paper Was Launched To Correct Distortions In The Iraqi Economy
Friday 10 December 2021 23:13 | economic Number of readings: 982 Baghdad / NINA / - Deputy Prime Minister and Minister of Finance Ali Abdul Amir Allawi inaugurated the Iraqi pavilion at Expo 2020 in the United Arab Emirates.
Allawi said in a speech on the occasion: "The white reform paper was launched to correct the structural distortions in the economy, the labor market, and the financial and monetary policies, and during its second year, despite the challenges, it achieved impressive results in overcoming the financial collapse and global indebtedness and achieving a cash surplus that will be a basis for addressing the deterioration that hit the productive economic sectors.
He stressed: "The reform paper stressed the need to rebuild all sectors and in various fields, whether leadership, administrative, humanitarian and personal.
Technological skills occupied a large part of the government's concerns, such as digitization and automation of systems and the application of the ASYCUDA system, which is one of the modern systems to strengthen reform measures to improve the performance of financial institutions, including the collection of customs taxes at ports and border crossings."
He continued: "our participation in this platform civilization in Dubai for the year 2021 provides us with many opportunities to take advantage of science and technology outputs, and artificial intelligence in particular and open up new horizons in the world of economy, education and motivate talent and leadership Business".
The Iraqi delegation included the Minister of Commerce, the Governor of the Central Bank, the Chairman of the Investment Authority, a number of deputy ministers and advisors to the Prime Minister. /End 3
https://ninanews.com/Website/News/Details?key=944075
The Appearance Of Muhammad Salih To / Nina /: Ending The Kuwaiti Compensation File Will Add To The Budget More Than Two Billion Dollars Annually
Friday 10 December 2021 20:14 | economic Number of readings: 999 Baghdad / NINA / - The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: "The end of Kuwait's compensation file will add to the budget more than two billion dollars annually."
In a statement to the National Iraqi News Agency ( NINA ), he said: "The end of Kuwait's war compensation, which amounts to 3% of every barrel of oil exported, will add to Iraq's general budget a monthly amount of nearly 200 million dollars, according to current oil prices."
Muhammad Salih explained: "This means about 2.4 billion dollars will be added to the general budget annually, an amount that will inevitably lead to providing part of the country's financial sustainability."
He added: "This amount can be allocated to income-generating investment projects, which enhances part of Iraq's economic situation by relying on its own resources."
The Central Bank of Iraq had announced the termination of the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues.
And he confirmed in a brief statement yesterday: The possibility of paying the entire remaining amount of compensation before the end of the current year 2021 to end this file. /End 3
https://ninanews.com/Website/News/Details?key=944057
Economist: Ending Kuwait's Debt File Will Contribute To The Recovery Of Iraq's Money
Saturday 11 December 2021 11:46 | economic Number of readings: 474
Baghdad / NINA / - The specialist in economic affairs, Durgham Muhammad Ali, confirmed that Iraq will be able to recover its frozen assets, obtain foreign debts, and prosecute the smugglers of its money, upon the end of its obligations towards Kuwait.
Muhammad Ali said in a statement to the National Iraqi News Agency / Nina /: "Kuwait is the last episode in the series of Iraq's debts, which falls under Chapter VII, and which restricted Iraq for decades from the possibility of opening banks abroad with government assets, as well as preventing it from recovering frozen funds. and debts."
He pointed out that "Kuwait was the worst cooperating country with Iraq, as most of the countries in the Paris Club waived a large part of their claims, except for Kuwait, which did not give up anything and insisted on biting Iraq's budget every year and restricted its international financial dealings, benefiting from unfair international decisions that harmed Iraq." Iraq".
He added, "The future Iraqi governments should demand Iraq's assets frozen for 30 years, as well as pursue Iraq's smuggled money and demand countries and companies indebted to Iraq."
The economic expert explained: "This step is a very important economic event that will raise Iraq's credit rating and enable it to direct the previously deducted funds to development aspects starting from next year."
And the Central Bank of Iraq announced last Thursday that it had ended the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues.
And he confirmed, in a brief statement, the possibility of paying the remaining amount of compensation in full before the end of the current year 2021 to end this file. /End 8
https://ninanews.com/Website/News/Details?key=944129
Finance Minister: Economic Inefficiency Has Wasted A Lot Of Money Obtained From Oil Revenues
Saturday 11 December 2021 22:07 | economic Number of readings: 198
Baghdad / NINA / - Minister of Finance Ali Allawi confirmed that the economic inefficiency wasted a lot of money obtained from oil revenues.
Allawi said in a televised statement: "The White Paper is an Iraqi project to strengthen the economic pillars of the state."
He continued: "There is a loss of economic vision in general caused by political factors, adding that the Iraqi economy is based entirely on oil revenues."
He stressed that the global trend of alternative energy will deal a major blow to the economies of rentier countries.
He pointed out that the Iraqi dinar in the twenties is equivalent to the pound sterling, adding that the Iraqi state budget was based on the export of agricultural products in the twenties.
And he indicated, that the goal of forming the Reconstruction Council is to develop strategic projects.
/ Ended 2 https://ninanews.com/Website/News/Details?Key=944256
After The Central Bank Banned Dealings With It, The National Bank Of Iraq Distances Itself From The Shawaqfeh
Posted On 2021-12-10 By Sotaliraq On Thursday, the National Bank of Iraq denied its relationship with Khaled Al-Shawaqfeh, who was banned by the Central Bank of Iraq from working in the Iraqi central sector in general.
A statement issued by the bank stated that what was recently circulated through social media and some news sites related to the decision of the Central Bank of Iraq to prevent Khaled Al-Shawaqfeh from working in the banking sector, which was incorrectly referred to in those sites as the authorized director of the National Bank of Iraq, is a disgrace. about health.
The statement added that the authorized director of the National Bank of Iraq is Ayman Omran Abu Dhaim, who has held his position since 2018 until now, noting that the bank represented by its authorized director Abu Dhaim has nothing to do with what was circulated and that the name of the bank was incorrectly mentioned by those media outlets. .
In its statement, the bank noted that "through its strong commitment to standards of transparency and integrity, it enjoys the confidence of the supervisory authorities in Iraq, led by the Central Bank of Iraq, and enjoys a reputable reputation in the Iraqi market, through which it was able to expand its customer base and gain their trust."
The bank continued that it was able to become the fastest growing bank for individual services in Iraq with its advanced services, which the bank provides through its 19 branches located in all Iraqi cities. It provides its services to individuals and companies through its advanced digital platform based on the latest technologies.
The bank also indicated that it had recently obtained the approval of the Iraqi and Saudi Central Banks to open a branch of the bank in the Kingdom of Saudi Arabia, and this step comes as a continuation of the expansion plans pursued by the bank. Note that the National Bank of Iraq is part of the Capital Bank Group - Jordan, which is considered one of the most important financial institutions in the region.
And the Central Bank decided to ban dealing with the so-called Khaled Ahmed Al-Shawaqfeh.
According to a letter signed by the Deputy Governor of the Central Bank Agency, Imad Hamad Khalaf, it was decided to permanently ban Al-Shawaqfeh from working in the Iraqi banking sector due to grave violations and non-compliance with the laws, regulations and circulars issued by the bank, the Anti-Money Laundering Office, and the financing of terrorism. LINK
Al-Rafidain Determines The Interest Rate On Fixed Deposits Of Citizens In Exchange For Depositing Their Money
Friday 10 December 2021 09:32 | economic Number of readings: 413 Baghdad / NINA / - Al-Rafidain Bank announced today, Friday, granting the interest rate on fixed deposits for a period of six months to be 4 percent.
And the bank’s media office stated in a statement, “The interest rate on savings accounts has reached 4 percent for citizens who open a savings account to deposit their money in the bank in exchange for interest.”/
https://ninanews.com/Website/News/Details?key=943958
Dollar Exchange Rates Are Stable In Local Markets
Friday 10 December 2021 11:28 | economicNumber of readings: 294
Baghdad / NINA / - The exchange rates of the dollar recorded, today, Friday, stability in the local markets.
And the selling prices of the dollar were recorded at 148.250 dinars per $100.
While the purchase price of the dollar recorded 147.750 dinars per 100 dollars. / End 8
https://ninanews.com/Website/News/Details?key=943965
Oil Prices Fell, And Brent Settled At $ 74.38 A Barrel
Economie| 08:29 - 10/12/2021 Follow - up - the balance of News
Oil prices fell on Friday, with dealers selling crude to profit - taking after a strong rally this week , thanks to the growing confidence that the rapid spread of the strain omicron of the Corona virus will not damage global growth and demand for fuel.
Brent futures were down four cents, at $74.38 a barrel, after falling 1.9 percent on Thursday.
And US crude futures fell seven cents, or 0.1 percent, to $ 70.87 a barrel, after falling 2 percent in a volatile session the previous day. Ended 29/A4
https://www.mawazin.net/Details.aspx?jimare=177931
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