More Iraqi News Saturday PM 11-28-20
More Iraqi News Saturday PM 11-28-20
TLM724 Administrator BondLady’s Corner
The Central Bank Announces The Formation Of The Anti-Money Laundering And Terrorism Financing Council
Time: 11/25/2020 11:11:06 Read: 2,392 times {Baghdad: Al Furat News} The Council of Ministers announced the approval of the third annual report of the Council for Combating Money Laundering and Financing Terrorism, in the presence of (Chairman of the Council - Governor of the Central Bank of Iraq).
The Cabinet called for "the Office of Anti-Money Laundering and Terrorism Financing to continue to take the necessary measures to combat money laundering and terrorist financing, in coordination with the supervisory authorities."
The Anti-Money Laundering and Terrorism Financing Council was formed according to Law No. 39 of 2015, which is chaired by the Governor of the Central Bank and the membership of a number of ministries and agencies not associated with a ministry. LINK
TLM724: This is ironic, the biggest money laundering operation in Iraq is the CBI currency auction Suspect
The Dollar Is Rising In The Domestic Market
Time: 11/28/2020 12:18:44 Read: 9,620 times
{Baghdad: Al Furat News} The exchange rates of the dollar rose in the main stock markets and local markets today, Saturday (November 28, 2020).
The Kifah Stock Exchange recorded 125,300 dinars against 100 US dollars, while last Thursday prices recorded 125,100 dinars per 100 dollars. As for the exchange rate in the local market, it also rose, as the selling price was :
126,000 dinars per 100 dollars. Purchase price: 125,000 dinars per $ 100. LINK
The Central Bank Launches The Electronic Collection Project For The Housing Fund
Time: 11/28/2020 11:14:52 Reading: 3,250 times {Baghdad: Al Furat News} Today, Saturday, the Central Bank of Iraq announced the launch of the electronic collection project, which mainly aims to support the Iraqi Housing Fund.
The Central Bank stated in a statement that {Al Furat News} received a copy of it, that "coinciding with the trend to support the e-government program, the Central Bank of Iraq announces the launch of the electronic collection project, which can contribute to strengthening government resources and collecting them in a safe and transparent environment, depending on the structure. Infrastructure of the payment systems and electronic payment platforms provided by the Central Bank and its authorized payment service providers.
He added, "This project generally targets the ministries and collection departments that obtain their revenues through bills and fees, especially the Iraqi Housing Fund."
The statement indicated that "this project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools and cancel cash transactions, which in turn will help relieve the burden of borrowing citizens by speeding up the completion of transactions and using payment platforms instead of coming to the headquarters of the Housing Fund," indicating “The fund’s plan included a timetable to include all its branches in the governorates with the collection project until the end of 2021.” LINK
The Central Bank Launches The Electronic Collection Project For The Housing Fund
Economie| 11:13 - 11/28/2020 BAGHDAD - Mawazine News The Central Bank of Iraq announced, on Saturday, the launch of the electronic collection project for the housing fund.
A statement of the bank, of which Mawazine News received a copy, stated that “coinciding with the move to support the e-government program, the Central Bank of Iraq announces the launch of the electronic collection project, which can contribute to strengthening government resources and collecting them in a safe and transparent environment by relying on the infrastructure of payment systems and payment platforms.
The electronic data provided by the Central Bank and its licensed payment service providers, as this project generally targets ministries and collection departments that collect their revenues through invoices and fees, chiefly the Iraqi Housing Fund.
The statement added: "This project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools and cancel cash transactions, which in turn will help relieve the burden of borrowing citizens by speeding up the completion of transactions and using payment platforms instead of attending the housing fund headquarters."
And he added: “The fund’s plan included a timetable to include all its branches in the governorates with the collection project until the end of 2021.” Ended 29 / A43 https://www.mawazin.net/Details.aspx?jimare=132056
Maximizing Tax Resources Is One Of The Pillars Of Financial Sustainability
Articles * Samir Al-Nasiri Discussions, debates and debates are now taking place in economic, parliamentary and governmental circles regarding the 2021 budget and the programs and plans for urgent reform to activate and diversify sources of income by stimulating and stimulating the basic productive sectors such as agriculture, industry, tourism, and increasing non-oil budget resources.
The information indicates that the government and the financial reform cell are working to not be less The percentage of non-oil resources in the budget is about 25%. This means that the numbers that will be included in the 2021 budget must be consistent with the reform programs included in the white paper.
And since tax resources are one of the pillars of financial sustainability, we note that one of the most prominent problems facing tax collection is the deficiency in the tax system in Iraq, which is currently in force, the tax law in force and its amendments, which did not address changes in economic activity after 2003, the expansion of the tax map and the relationship with those covered by the tax And finding new mechanisms to reach taxpayers.
It requires the complete automation of tax work in a comprehensive and not partial manner, as it is now, and the development of a special electronic system for collection in coordination with banks that ensures accuracy of calculation and ease of collection without human intervention.
And the abolition of exemptions and exemptions for state institutions, as well as in particular on income tax on individuals and companies, benefiting from the process of resettlement of employee salaries in coordination with the Central Bank and banks, and the need to impose a value-added tax with a tax tax from the consumer of not less than 5% and not more than 20% on sales of goods and services that he owns and gets It is as is the case in most countries.
Likewise, collecting the direct tax on imports, which is the tax that must achieve large revenues exceeding the limits of 10 billion dollars annually, in the event that it is collected accurately and directly in accordance with the desired electronic system in cooperation with the Central Bank (window for selling the currency) and customs, where the total imports of the private sector are estimated at around 60 billion Dollars per year.
And the imposition of a direct tax in light of the import lists, their quantities, the amounts of remittances and the documentary credits in the window of sale of the currency in the central bank, and thus this measure will prevent tax evasion.
The important and fundamental thing is to unify tax instructions between the federal government and the Kurdistan Region and eliminate double taxation, as it is noticed that the region works independently from the federal government in collecting taxes according to special instructions for the region, and the private sector, as individuals, companies and banks, is obligated to pay tax rates to the region while most of these companies The banks are taxed according to their annual budget in the center according to the law in force, which constitutes a clear case of double taxation.
* An economic and banking advisor Number of observations 143 Date of addendum 11/28/2020
https://economy-news.net/content.php?id=22903
Constitutional Amendments Committee To / NINA /: Our Final Report Is Before The Presidency Of The Council Of Representatives After The Meeting To Discuss Article 140
Saturday 28, November 2020 18:40 | Political Views: 21 Baghdad / NINA / The special parliamentary committee in charge of constitutional amendments pledged to hold a new meeting to discuss Article 140 in the coming days.
Committee rapporteur, Saeb Khadr, stated in a statement to the Iraqi National News Agency ( NINA ) that "the lack of a quorum due to the absence of some component representatives prevented the final social contract for discussing Article 140 last week," noting that "the parliamentary committee will meet again." During the coming days, to discuss the only remaining article, which is Article 140, then we submit the final report to the Presidency of the Council of Representatives.
He added that "the parliamentary committee discussed all the 144 articles listed for the amendment, most of which are not subject to disagreement between the political blocs," noting that "some of the amendments have different views and therefore the committee proceeded to include more than one opinion, including Article 76 related to the form of the system." Political, presidential, parliamentary or mixed, as well as the selection of governors, the powers of the provinces, the validity of the decisions of the Federal Court, the distribution of powers and wealth between the center and the region, as well as Article 140. "
He explained that "the committee will prepare its final report as soon as the meeting discusses Article 140 and submits it to the Presidency of the Council of Representatives." https://ninanews.com/Website/News/Details?Key=873151
Economist For NINA: The Role Of Banks In Financing Economic Sectors Is Still Below The Level Of Ambition
Saturday 28, November 2020 11:14 | Economical Views: 224 Baghdad / NINA / Economic expert Safwan Qusay confirmed that the role of public and private banks in financing economic sectors is still below the level of ambition to work as an attractive environment for money.
Qusay said in a statement to the Iraqi National News Agency ( NINA ) that: Despite the importance of public and private banks in financing the economic sectors, they are still below the level of ambition to work as an attractive environment for money and to move savings towards it to create sustainable development locally and to be a strategic partner in local and international stock exchanges and work.
"With an investment mentality, stressing that all of this requires a review of many local laws and procedures, and will lead to an increase in the need to work in them and to review the salaries of their employees in line with the rate of profits and the type of activity.
He pointed to the control of capital owners in the private sector to determine the income of workers in his project without supervision to determine the value of the activity and its entitlements by professional unions and supervising bodies, stressing that activating their role will contribute to increasing employment in the private sector and activating its role in the development process. https://ninanews.com/Website/News/Details?Key=873039
Parliamentary Finance Calls On The Government To Start Implementing The Provisions Of The White Paper
Pratha News Agency68 2020-11-28 Today, Saturday, the Parliamentary Finance Committee called on the government of Prime Minister Mustafa Al-Kazemi to start implementing the provisions of the White Paper.
In a document addressed to the Council of Ministers, the Parliamentary Finance confirmed that “most of what was mentioned in the white paper falls within the powers of the executive authority, provided that it specifies the timelines needed for implementation, and the institutions responsible for its implementation. The country passes by. " http://burathanews.com/arabic/news/381408
Saeron Alliance Reveals: The Federal Court Law Will Be Passed In The Next Sessions
Political Saturday 28 November 2020 | 03:23 PM| Views: 62 The deputy of the Saeron Alliance, Amjad Al-Oqabi, confirmed, Saturday, that the House of Representatives will pass the Federal Court law during the upcoming sessions .
"There is almost an agreement to pass the Federal Court law within the House of Representatives to completely end its file," Al-Oqabi said, pointing out that "the coming sessions will witness the passage of the law in a way that serves all parties ."
He added, "Passing the Federal Court law or solving the problem of the lack of its members is important in completing the enlarged elections," indicating that "the failure to resolve the issue of the Federal Court will affect the timing of the elections and therefore difficult to achieve ." https://aynaliraqnews.com/index.php?aa=news&id22=141287
The Deployment Of An American Aircraft Carrier In The Gulf ... The Reason?
International news Saturday 28 November 2020 | 03:37 pm| Views: 61 The US Navy deployed the aircraft carrier "Nimitz" to the Gulf last week, days before the death of a prominent Iranian nuclear scientist, but the Navy said today, Saturday, that this has no link to any specific threat .
"There are no specific threats that prompted the return of the combat group of the carrier Nimitz, " Commander Rebecca Rebarich, a spokeswoman for the US Fifth Fleet, based in Bahrain, said in an email statement after the carrier’s deployment on Wednesday .
She added that the redeployment is related to reducing the number of US forces in Iraq and Afghanistan. According to "Reuters ".
"This act ensures that we have sufficient capacity to respond to any threat and deter any adversary from moving against our forces during the troop reductions, " she added.
Iranian media had announced the assassination of the Iranian nuclear scientist who specializes in the field of nuclear missiles, Mohsen Fakhrizadeh, who works as head of the Research and Innovation Authority at the Iranian Ministry of Defense .
On Friday, 27 November, Iran's Foreign Minister, Mohammad Javad Zarif, said that there are clear indications that Israel was involved in the assassination of the Iranian scientist. https://aynaliraqnews.com/index.php?aa=news&id22=141288
Foreign Minister: The Relationship With Washington Will Be Smoother During The Biden Administration
Time: 11/28/2020 00:57:44 Read: 2,912 times (Baghdad: Al Furat News) Foreign Minister Fouad Hussein expected that the relationship between Iraq and America would be "smoother" between the two countries during the administration of President-elect Joseph Biden.
Hussein said in a press statement, "The change in Washington is important. Those who come to power and handle foreign relations have knowledge of the Iraqi file. Biden, who will be president of America, has been holding the Iraqi file for nearly eight years while he was Vice President Obama, and he is familiar with the situation in Iraq in detail." And, for several times, he visited Iraq and the Kurdistan region, whether in his capacity as Senator or Vice President.
He added, "And whoever holds the position of Minister of Foreign Affairs is a personal friend who is aware of the situation in Iraq and the region in general, as well as the National Security Adviser."
Hussein said, "In short, all those who will carry out their duties are aware of the situation in Iraq and the region, so I say that it is not unlikely that relations will be smoother. The policy of the democrats is known in the Middle East and we are ready to strengthen relations with Washington." LINK
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