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More Iraqi News Tuesday PM 2-15-22

More Iraqi News Tuesday PM 2-15-22

TLM724 Administrator BondLady’s Corner

AITEX Exhibition Kicks Off In Iraq With The Support Of The Development Bank Of Iraq

Economie   Tuesday, 15 February 2022 2:09 am  Baghdad / News Center: The “ITEX Technology and Communications” exhibition will be launched in Iraq, under the auspices of Prime Minister Mustafa Al-Kazemi, the General Secretariat of the Council of Ministers, and the Minister of Communications, Engineer Arkan Al-Shaibani, with the support of the Development Bank of Iraq.

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In a statement on February 3, 2022, the secretariat called on all countries and local and international companies to participate in the exhibition to learn about real partnership opportunities with the competent sectoral authorities, in line with the development plans of the technological sector in Iraq, and to participate in laying the foundation stone for an easier world through digital transformation.

The exhibition activities are held under the slogan “Iraq is moving towards digital transformation, and the accelerated adoption of artificial intelligence technology.

The news center monitored the participation of the Federation of Iraqi Chambers of Commerce, international and local companies, private banks and financial transfer and electronic payment companies, in the events held on the grounds of the Baghdad International Fair from 15 to 18 February 2022.

It is hoped that the exhibition will launch the first incubator specialized in financial technologies in Iraq, review banking services and spread banking awareness.

The exhibition opens opportunities for the Iraqi public to learn about investment opportunities and real partnership opportunities offered by the Ministry of Communications and participating companies and banks. https://nnciraq.com/113229/

Al-Sadr Calls On Parliament To Summon All Those Suspected Of Corruption And Shortcomings

Today, Tuesday, the leader of the Sadrist movement, Muqtada al-Sadr, sent a letter to the House of Representatives.

Al-Sadr said, in a tweet to him on the Twitter platform, that "the parliament's work should not only be for the sake of forming the government, or the three presidencies, but rather the oversight and legislative role of the House of Representatives must be activated, for the interests of the oppressed people."

He added, "Therefore, parliamentarians, especially our beloved allies, should activate the following:

First: Activating the reformist parliament’s role, activating investigations, and summoning anyone suspected of corruption and negligence, even by expediting the formation of parliamentary committees, regardless of their ethnic or sectarian affiliation or job rank in previous governments.

Second: Emphasis on activating service projects that benefit the people and their dignity, completing lagging projects as quickly as possible and within a specific time limit, and holding negligent government and civil companies accountable.

Third: Speeding up the formation of the new reformist government with a national majority government far from the "cake".

Fourth: Activating Parliament’s oversight role in a firm manner that prevents politicized partisan or judicial interference and peace.    https://www.radionawa.com/all-detail.aspx?jimare=28037

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Al-Kazemi Stresses Monitoring The Prices Of Goods And Merchandise And Not Manipulating Prices

Today, Tuesday, Prime Minister Mustafa Al-Kazemi issued a directive regarding the prices of goods and merchandise and the ration card, while stressing that there is no cover for any criminal or wanted for justice.

And the Prime Minister’s media office conveyed the most important statement of Al-Kazemi’s speech during his presidency of the cabinet session, today, Tuesday, in a statement, that “from the first day, we pledged to our people to speak frankly and transparently in various fields, and to diagnose mistakes if they existed,” adding: "On the security side in Maysan Governorate, we follow crime gangs, drugs, outlaw groups, and uncontrolled weapons...

We formed the Maysan Operations Command, and arrested a large number of criminals and drug dealers, and I personally follow up the operations moment by moment with the Operations Commander and Deputy Commander of Joint Operations, in order to enforce the law." .

He added, "We are working to overcome this unacceptable chaos, which was caused by the lack of a correct vision of the security situation, whether with regard to the cadres of the Ministry of the Interior or the security services, and also because of the interference and favoritism of some people and groups.

We are under pressure to stop these operations, but we are continuing with them,” stressing that “the principle of the state is the one that must be in effect. We have two options, either the state or the chaos that some want to perpetuate. We have to work with all force to protect state institutions and prevent the chaos that some wish.”

He pointed out that "the ministers should work seriously to impose the values ​​of the state institution, there are those who are trying to absent the state institutions, and weaken them for personal and economic interests, working for the benefit of groups and gangs trying to live within this chaos," noting, "We are working to deter these groups with full force, as we did With large arrests of wanted persons, and there is a deliberate campaign of confusion and misinformation, and we hear every moment about an assassination attempt in Al-Amarah.

And he added: "We arrested a person involved in a large number of assassination attempts: he was involved in killing a journalist and in the drug trade, and there is a long list of accused detainees, and we will continue to pursue these groups," explaining that "the leaders of the security services are under surveillance to enforce the law, prosecute terrorists and criminal gangs, and prevent any security breach."

He continued: "Our clans are dear, and they are our heritage and culture and are known for their national affiliation. There are those who are trying to steal these values, under titles forbidden by law. That is why we call upon our clans and their elders to work with the state to prevent anyone who begs himself to kidnap this great title by some groups.

" Noting that "the clan elders have supported the state and the law, and we look at them with greatness to continue to support the state and perpetuate the law and reject any illegal practices that the clan uses as a cover for it, and our doors are open to them."

He pointed out that "there are two options that have no third: either the state or chaos, and everyone is under the authority of the law, and we are working hard to arrest anyone who challenges the state, as the logic of the state must prevail," stressing that "there is no cover for any criminal or wanted for justice, We have started and are continuing with our procedures."

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He added, "I thank the political forces that announced their repudiation of any party trying to use the names of the parties to commit crimes," noting that "we heard many words that the government is against the Chinese agreement, and we proved to everyone that we are with any effort, action and international communication that serves the interests of Iraq."

And between: "Yesterday, the Chinese ambassador visited me and thanked me for the government's position in supporting the agreement and implementing some of its provisions, and today the Iraqi-Chinese fund has large funds, and we have started implementing some projects, the first of which is the project of 1000 schools, and the housing construction units project in Sadr City in Baghdad, and electric stations and other projects are continuing."

With it," stressing that "the doors of Iraq are open for relations and work with the international community, for everything that serves the interest of our country... The state does not seek an agreement alone, but rather seeks several agreements at the same time, in order to serve our people."

He pointed out that, "Despite what the political situation is witnessing, I ask the ministers to work around the clock until the tasks are handed over to the next government... to continue working with all seriousness, summer is at the door and we have an electricity crisis and there are projects that we must continue with," explaining that " There are those who are trying to spread a negative atmosphere; we are required to work in order to provide a positive atmosphere and create hope for people, yet there are positive variables and people feel them."

And he stressed, uh, "there is no external interference in our national decisions. Our decision is national par excellence, and we will not allow any party, whoever it may be, to interfere in our affairs," calling "everyone to give priority to national interests, because the nation is greater than all interests and policies, and I have confidence in political forces and parliament, that they will confront For their role in completing the political, constitutional and national entitlements, and taking the country to a new stage.

And he continued, "I confirm our directives to pay attention to the ration card and its vocabulary and to monitor its distribution," directing "the distribution of two meals from the ration card during the next blessed month of Ramadan."

He added, "We renew our directives to the security authorities to monitor the prices of goods and merchandise, and not to manipulate prices and exploit citizens," directed to "provide the necessary protection for judges, and provide all that is required to protect them."     https://www.radionawa.com/all-detail.aspx?jimare=28036

Preliminary Results Of Banking Sector Activities For The Year 2021

*Samir Al-Nusairi    By analyzing the preliminary financial statements of the activities of government and private banks for the year 2021 and comparing them with the results of the activity

For the year 2020 at the total level and at the level of the type of activity, it became clear that the most prominent indicators on the overall level are the banking sector achieving good annual business results in complex economic conditions and the spread of Corona and the global economic closure and the repercussions of international economic variables and the instability in international oil prices on the Iraqi economy, in addition to the crises And these results come due to the strong commitment of the banks

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On the instructions of the Central Bank to continue working daily and provide banking services and products to the public and companies, in addition to implementing the Central Bank’s initiatives to revitalize the economic cycle and stimulate the economy.

Small and medium, which contributed to the employment of 40,000 unemployed citizens, and from analyzing the indicators and comparing them to the year 2020 at the total level of public and private banks combined, it is clear that the banks' capital increased by 6 %.

Deposits at 10%, cash bank credit at 6%, and pledge credit at 4 %

Total assets increased by 10% and bad debts increased by 5.5 %.

At the level of private banks, their capital amounted to 13 trillion dinars, which means that they invest up to 71% of the total capital of the banking sector, both governmental and private, and deposits increased by 9% and cash credit by 9 %  and total assets by  12 %.

It was also indicated that the amounts of bad debts increased by 2% compared to last year due to the non-commitment of some borrowers to repayment .

And from the analysis of the data in comparison between government and private banks, the imbalance and the large differences in the distribution of deposits remain

Cash and pledge credit and assets are present, and the share of private banks for deposits is 15%, for credit is 18%, and for pledge is 41%, for total assets is 11%, and for profits is 17%.

Therefore, the redistribution of powers and the granting of flexibility and adequate facilities to private banks and the implementation of decisions to support the private banking sector

Issued by the Council of Ministers and the Economic Affairs Committee and the contents of the second central bank strategy in its main and subsidiary objectives. In addition to what was stated in the white paper on the objectives of banking sector reform, which is to allow private banks to take their role as levers of the economy and to end the role of government banks as an arm for banking finance and consider them the lever of sustainable development and the first main link in the economy .

* Advisor to the Association of Iraqi Private Banks  

Views 267 Date Added 02/15/2022    https://economy-news.net/content.php?id=27206

Dollar Exchange Rates Are Stable In Local Markets

Economie| 10:35 - 15/02/2022   Baghdad - Mawazine News, the exchange rates of the dollar stabilized, today, Tuesday, in the local markets.  

And the selling prices of the dollar were 14,800 dinars per 100 dollars, while the purchase prices of the dollar were 147,750 dinars per 100 dollars.    https://www.mawazin.net/Details.aspx?jimare=184687

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Significant Increase In Central Bank Sales Of Hard Currency

Economie| 02:35 - 02/15/2022   Baghdad - Mawazine News, the Central Bank of Iraq's sales of hard currency rose, today, Tuesday, to reach more than two hundred million dollars.

And the Central Bank auction for the sale and purchase of foreign currencies witnessed an increase in its sales by 3.45 percent, to reach 210 million and 690 thousand and 100 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.

Most of the sales went to enhance balances abroad in the form of remittances and credits, which amounted to 158 million and 390 thousand dollars, while the remaining amount of 52 million and 510 thousand dollars went in cash.

Also, 27 banks fulfilled requests to enhance balances abroad, 22 banks to meet cash requests, in addition to 202 mediation companies. Ended 29/A 4    https://www.mawazin.net/Details.aspx?jimare=184716

Why Hinder Investment Contracts In Iraq?

Political | 03:22 - 15/02/2022  Baghdad - Mawazine News: An agreement worth $27 billion between the French company "Total" and Iraq has been halted, amid disagreements over the terms and risks that the new government in the country canceled.

Total agreed last year to invest in four oil, gas and renewable energy projects in the southern Basra region over a period of 25 years, and the agreement signed by the Iraqi Oil Ministry in September 2021 came after the visit of French President Emmanuel Macron.

On this subject, the economist Manar Al-Obaidi says: “Iraq needs many investments, the most important of which is in the oil sector, on which the government relies heavily, and with a value of 27 billion, Iraq signed an investment with the French company (Total) in the oil and electricity sectors, which are investments that contribute to increasing Iraq’s production. of oil, in light of the decline in global oil investments, but with the ease of extracting oil in Iraq, this will lead to an increase in the country’s domestic product. In Iraq, which occupies lagging positions according to the Ease of Doing Business report.

Al-Obaidi added, "With regard to the United States' interventions in investment contracts, it can be said that the United States' strategy in Iraq has changed, as the United States' international expansion decreased as it was in the past, so I do not see direct American interventions in such contracts, as there are many large contracts It was concluded with Chinese companies and we did not see American interference in it, but there may be regional interference that hinders some projects in Iraq, and I also do not think that such a big contract with Total came based on a political courtesy between Iraq and France, in light of Iraq’s great need for investments.

In the oil sector, but as long as the Iraqi political situation is confusing with the presence of many centers of power that have the ability to change the compass of the country’s political and economic orientation, such contracts will be obstructed and unstable.” https://www.mawazin.net/Details.aspx?jimare=184721

 

 

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