More Iraqi News Tuesday Late PM 1-11-22
More Iraqi News Tuesday Late PM 1-11-22
TLM724 Administrator BondLady’s Corner
Invitation To The New Parliament To Take Care Of Economic Laws
Tuesday 11 January 2022 178 Baghdad: Farah Al-Khafaf
Experts and specialists called on the new House of Representatives to pay attention to real economic legislation to advance the country's economy, proposing to merge the two financial and economic committees into one committee to find practical solutions to the problems facing the public and private sectors and to work with the executive authority to solve them, and to overcome all challenges that confuse the reality of performance in the country. Yesterday (Sunday), the new parliament held its first session, as MP Muhammad al-Halbousi was elected speaker of parliament, Hakim al-Zamili as first deputy and Shakhwan Abdullah as second deputy.
The expert, Raed Al-Amiri, told Al-Sabah: "The new parliament must legislate real laws that support the economy, especially since the next four years are considered pivotal with regard to the financial situation in the country."
Enact Law
He added, {We find that most of the laws that are approved are far from supporting the Iraqi economy or intersect with other laws, as what has been enacted in previous parliaments are laws to align the country’s financial matters such as the budget, lending, or other things, while moving away from legislation to support the two sectors. public and private, or amending the investment law or the oil and gas law and other important legislation and necessary}.
The Committee on Economy and Investment in the previous parliament had confirmed that amending the investment law depends on the work of the House of Representatives, indicating that {the amendment of the law does not require a great effort, but rather the amendment of the paragraphs that need to be amended and hosting officials and then reading it a first and second reading and then voting on it} , while the head of the National Investment Commission, Suha Al-Najjar stressed the existence of loopholes in the Iraqi investment law, explaining that {the Iraqi investment law contains simple loopholes, and for many years corruption dominated investment, as corruption and political pressures delayed the completion of investment projects for years, and that most projects The investment was limited to some people for years.
Distraction Of Proposals
In turn, the financial expert Thamer Al-Azzawi suggested merging the two financial and economic committees into one committee.
He told Al-Sabah: "This merger is necessary to facilitate work and not to distract proposals, visions and recommendations, as we have seen during previous parliaments that some laws are supervised by more than one committee, and each committee presents a contrary opinion about the other committee, and in order to unify that and find solutions." For quick or medium-term development of the economic sector, these two must be combined
The Two Committees.
Financial Policy
Al-Azzawi added that {the financial policy in Iraq is not clear, as Iraq has not yet moved to a real market economy, as it is necessary to integrate the economic sectors, involve the private sector and adopt new methods related to the oil sector and natural resources in the country, in addition to seeking to work in other sectors. Industry, transportation, construction, housing, agriculture, communications and tourism, and revitalizing the work of banks and other productive and service sectors}, stressing that {these all require laws, legislation or amendments by the House of Representatives. the new}.
High Commission
As for the specialist, Saad Al-Fayyad, he saw the need for Parliament and the government to work together to advance the economy, that is, to create a higher committee that includes ministers and heads of the relevant committees.
Al-Fayyadh told Al-Sabah: "After the formation of the new government, such a committee must be formed to unify visions, bring distances closer and shorten time, away from routine and exchanged official books." Al-Fayyadh pointed to the "importance of the parliamentarians to stay away from personal interests or political conflicts when legislating laws related to the economy, especially since all experts believe that the next five years will be crucial and important for the country's economy." LINK
Oil Is Rising Again, And Brent Is At $81.31 A Barrel
Economie| 08:47 - 11/01/2022 Follow-up - Mawazine News: Oil prices rose, on Tuesday, after two days of losses, with the return of some risk appetite and as some oil producers continued to struggle to increase production. Brent crude futures rose 46 cents, or 0.57 percent, to $81.31 a barrel.
West Texas Intermediate crude futures rose 57 cents, or 0.73%, to $78.80 a barrel. Ended 29/A4
https://www.mawazin.net/Details.aspx?jimare=181261
Communications: A New Strategy That Includes National Projects In The Coming Days
01/11/2022 18:51 number of readings 192 Section : Iraq
Baghdad / Obelisk: The Ministry of Communications revealed, on Tuesday, January 11, 2022, that it will announce in the coming days a new strategic plan for its work that includes national projects.
Ministry spokesman, Raad al-Mashhadani, said in a statement followed by the obelisk that there is a plan that we will announce in the next few days on a new strategy for the ministry’s work in 2022 and some national projects, including the Fiber Tom Home, the light project, and the Iraqi national project for communications and information services.
He pointed out that we are working to control the gates in cooperation with the Iraqi intelligence service, the Iraqi National Security Service and the Ministry of Interior, and there is a third plan called for by the Minister of Communications Arkan Al-Shaibani and is based on launching a satellite that benefits Iraq in communications and in serving subscriptions and frequencies in satellite channels, radios and stations. https://almasalah.com/ar/news/220988/الاتصالات-استراتيجية-جديدة-تتضمن-مشاريع-وطنية-خلال-الأيام-المقبلة
Expert: The Government Continues In Its Economic Confusion And Has Failed To End Arbitrary Appointments
Economic Last update 01/06/2022 | 1:01 pm Information / Baghdad.. The economic expert Bassem Antoine confirmed, on Thursday, the government's failure to end the file of randomness in the appointments of employees in the public sector, indicating that Iraq exceeded 9 times the global ratios for the number of employees in the public sector.
Antoine said in a statement to "Al-Maalouma", that "the government continues to think in a populist manner towards the economic sector, and it cannot achieve any significant achievement, especially in light of the random increase in the number of employees in the government."
He added, "Those in charge of the Iraqi economy do not realize that work and the economy depend on competitive value, as making 2000 workers cannot be compared to a modern factory that has less than 100 workers, with the same productivity, and at prices that are several times lower."
Antoine pointed out that "the public sector is paralyzed and does not achieve any significant achievement, and international estimates indicate that Iraq possesses 9 times the workers in the international labor market, which made the state budget operational par excellence without any success rates." Done/ 25 d https://almaalomah.me/2022/01/06/574987/
Study Analyzing The Impact Of The Depreciation Of The Turkish Lira On The Iraqi Economy
January 10, 2022 Study analyzing the impact of the depreciation of the Turkish lira on the Iraqi economy
» To view the study... click here https://cbi.iq/static/uploads/up/file-164181408081077.pdf
https://cbi.iq/news/view/1916
Al-Rasheed Directs Its Branches To Sell Building Bonds To Citizens With Interest To Be Paid Every Six Months
Economic 01/11/2022 | 1:33 pm Information/Baghdad... Al-Rasheed Bank announced, on Tuesday, the resumption of work by receiving the purchase of (building bonds / the second issue) from citizens, with interest paid every six months.
A statement by the bank, which was seen by / the information /, stated that “Al-Rasheed Bank has resumed work by receiving the purchase of (building bonds / the second issue) from citizens,” calling on those wishing to purchase to “review the bank’s branches in Baghdad and the provinces.”
The statement added, "The instructions set the value of the bond (500) five hundred thousand with interest (6%) to be paid to the customer every six months for a period of two years, and a bond in the amount of (1,000,000) dinars with interest (7%) paid every six months for a period of four years." finished/25 https://almaalomah.me/2022/01/11/575945/
Announcing The Electronic Payment Of The Dues Of Divorced Women And Creditor Employees For The First Time
Economic Last update 01/11/2022 | 10:31 AM The Information/Baghdad… For the first time, the Execution Directorate of the Ministry of Justice has adopted an electronic banking system (IBAN) to pay the financial dues of divorced women and creditors of convicted employees, especially in the security ministries.
The Director General of the Directorate, Judge Bashar Ahmed Muhammad, said in a statement reported by Al-Sabah newspaper and seen by "The Information", that "working the electronic system comes to reduce routine procedures and shorten the time in paying the financial dues for the covered segments, whether for divorced women or creditors of convicted employees in a number of ministries. These include defense, interior and federal police, as well as other ministries.
Muhammad added, “The payment of financial dues to creditors after a judicial decision was issued against convicted employees in the ministries was done through an instrument that was returned to the Directorate via manual mail, and the funds were sorted and disbursed, and this needed a long time, but after the adoption of the electronic system, the dues were paid. directly to the Directorate.
He pointed out that “the directorate has taken a number of measures to reduce cases of bribery, including specifying phone numbers through which auditors can contact and submit a complaint directly, in addition to the presence of a complaints box that was placed in 35 departments, as well as activating social media, in addition to setting a day per week to meet the auditors to solve their problems immediately.”
Muhammad pointed out that "the most prominent obstacles facing the directorate's work are the lack of professional staff, which constitutes an obstacle to opening sub-executive departments and reducing the momentum for some branches, especially since divorce cases are on the rise." finished/25
https://almaalomah.me/2022/01/11/575892/
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