More Iraqi News Tuesday PM 5-25-21
More Iraqi News Tuesday PM 5-25-21
TLM724 Administrator BondLady’s Corner
Economic Expert: 50 Trillion Dinars Outside The Banking Belt .. And The Central Bank Should Take Advantage Of "Balanced Performance" To Control The Monetary Supply
Monday 24, May 2021 11:16 | Economical Views: 409 Baghdad / NINA / Economic expert Raad Twaij welcomed the launch of the Balanced Performance project by the Central Bank of Iraq, describing it as: "It is an important step in the Iraqi banking sector."
Twig said in a statement to the Iraqi National News Agency ( NINA ) that "launching the Balanced Performance Project or Quantitative Scale, which summarizes environmental, social and institutional governance standards based on a previous strategy that extended from the year 2016_2020 applied to commercial and Islamic banks, is an important step in the banking sector that will contribute to achieving Big economic goals. "
Twig called the Iraqi Central Bank to take advantage of this practice to achieve several goals, the first is to increase its control and control over cash issuance, as the cash levels indicate the presence of 50 trillion dinars outside the banking belt, and therefore it does not enter the economic cycle and it is within the framework of the hoarded monetary mass, which causes a rise in the level General prices, which witnessed an increase this month by 0.3%, and accordingly, this card will give the Central Bank more control and oversight over banking policies. ”
The second goal, Touaj’s words, is“ to follow the financial inclusion approach as part of the digital economy and to reach the middle classes And the poor in society, making bank accounts for them and entering the banking circle from deposits and loans, which will limit the phenomenon of hoarding and shift to alternatives in savings and investment as economic dynamics, diversification and improvement of banking products to attract and attract deposits.
He continued: "The third goal is to protect the consumer in ensuring his deposits from bankruptcy and banking manipulation.
On Sunday, the Central Bank of Iraq announced the completion of the Scorecard project for environmental, social and governance standards, in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group to address regulatory issues in the banking sector.
It should be mentioned that work on this project was started at the end of 2019, as pilot tests for the scorecard were conducted during the period (2020-2021) with the participation of all commercial and Islamic banks operating in the Iraqi banking sector.
https://ninanews.com/Website/News/Details?key=905934
An International Initiative To Enhance Iraq's Efforts To Combat Corruption
Tuesday 25th May 2021 158 Baghdad: Hazem Muhammad Habib The Ambassador of the European Union to Iraq, Martin Hutt, confirmed that the anti-corruption initiative in partnership between the Union's embassy and the United Nations Development Program is of great importance in supporting state institutions in charge of combating corruption and integrity, while the resident representative of the United Nations Development Program, Zeina Ali Ahmed, indicated that the initiative project that To be implemented over a period of four years, it aims to support legal and integrity institutions throughout Iraq in combating corruption.
European Union Ambassador Martin Hutt said during the conference (Promoting Justice to Combat Corruption in Iraq) held in Baghdad yesterday and attended by {morning}: {Combating corruption requires a joint and unified effort from the Iraqi government, state institutions and Iraqi society}, and added that {with the launch of this important initiative The European Union provides significant support to the Iraqi state institutions in charge of integrity. This project also helps Iraq fulfill its national and international obligations and respond to the clear hopes of Iraqi citizens to rid the country from the epidemic of corruption, and affirmed that it {looks forward to seeing the continuous strong policy, national ownership and joint direction for this initiative in favor of Iraq and its people}.
For her part, the resident representative of the United Nations Development Program in Iraq, Zeina Ali Ahmed, confirmed in an interview with {Al-Sabah}, that {the project funded by the European Union and will be implemented over a period of four years aims to support legal institutions and integrity in combating corruption throughout Iraq, including the Kurdistan region, As well as supporting justice initiatives to curb corruption and strengthen the adjudication of commercial disputes.
She indicated that {it is not the first project launched by the United Nations Development Program in the fight against corruption, but that the support of the European Union gave additional and great support for the maturation of such projects}, and indicated that {Iraq is not the only country in the world that fights corruption, and through national commitment and legislative frameworks. Technical expertise will contribute to taking the right path to fight corruption. She said: {We found all cooperation from government institutions concerned with fighting corruption, with which we have contacted during the past five months.
The UN official indicated that {the general objective of the project is to support Iraqi efforts to combat corruption in a sustainable manner and to create an environment conducive to attracting foreign investment and developing the private sector, and to address legislative and strategic gaps in combating corruption, as well as improving the capacity and integrity of public institutions that work to investigate corruption crimes. And adjudicating them.
The project also aims to create a climate of support in Parliament to combat corruption, strengthen the commercial justice system, and conduct reforms in the field of combating corruption. In his turn, the representative of the Director of the Office of the Prime Minister, Counselor Muayad Abdul-Hussein, affirmed that {the government is committed to promoting justice and supporting efforts to fight corruption in all its forms in Iraq.} .
He explained that {launching this project demonstrates the collective desire of the main stakeholders through state institutions throughout the country, the European Union, the international community and the United Nations through the United Nations Development Program to bring about the desired change}, stressing {the government's endeavor to restore the people's confidence in all state institutions}. LINK
Parliamentary Integrity: The Corruption Money Import Law Will Include The Opening Of Pre-2003 Files
Pratha News Agency73 2021-05-25 A member of the Parliamentary Integrity Committee, Jamal Shakour, revealed, on Tuesday, the details of the law for importing money smuggled abroad, indicating that corruption files before 2003 will be opened.
Shakour said in a press statement that "the draft law does not specify an amount for money smuggled from the proceeds of corruption, and the sums are large, and the draft law includes the proceeds of corruption since 2003 and even before that, which were smuggled by people who previously held government positions."
He added that "the current parliament can legislate the law as it has about 5 months to hold legislative elections," stressing that "the legislation of the law can take place within one month at the latest."
Shakour pointed out that “the law comes in implementation of the provisions of the United Nations Convention against Corruption in 2004, and the prosecution of wanted and convicted abroad after the legislation of the law is done in cooperation with the Ministry of Foreign Affairs, the Public Prosecution Service, the Federal Supervision Bureau and any party related to the issue, through investigation and exchange of information. http://burathanews.com/arabic/economic/393106
Federal Court: There Is No Immunity For Members Of Parliament Without The Issuance Of An Arrest Warrant For An Unmarked Felony
Pratha News Agency122 2021-05-25 The Federal Supreme Court decided, by Court Decision 90 / Federal / 2019 on 28/4/2021, to revoke previous court decisions regarding obtaining the approval of the House of Representatives in all crimes for which members of Parliament are accused, whether they are felonies, misdemeanors, or offenses.
The court decided that obtaining the approval of the House of Representatives is limited to one case only, which is the issuance of an arrest warrant for a crime of the type of felony that is not witnessed, except for the immunity of members of the House of Representatives, and legal measures can be taken against them directly in the event that any of them is charged with a felony, misdemeanor, or contravention.
The court also decided to reverse the court’s previous decision regarding the interpretation of the concept of an absolute majority. The court decided that the concept of an absolute majority wherever it is contained in the constitution is intended to be more than half of the actual number of members of the House of Representatives.
As for the simple majority, what is meant is more than half of the number of members of Parliament present after the quorum has been achieved.
With this decision, courts are able to settle corruption cases faster than before, because most corruption crimes are described as misdemeanor crimes, and resolving them depends on lifting the immunity of the accused person, if he is a member of Parliament. http://burathanews.com/arabic/news/393097
A Legal Expert Clarifies Supreme Court Decisions To Lift Immunity And Abandon The Majority Interpretation
Time: 05/25/2021 13:23:21 Read: 3,211 times {Politics: Al-Furat News} A legal expert explained the decisions of the Federal Supreme Court regarding lifting the legal immunity of members of Parliament.
Tariq Harb told Al-Furat News Agency, "The Federal Supreme Court's decision is in accordance with the provisions of the constitution, because the constitution differs between two cases, the first being the case of the witnessed crime, as the constitution did not assign the matter to the House of Representatives, meaning that if there was a crime witnessed by one of the representatives, the court has the right to ... It gives an order to arrest him directly without the need to waive his immunity from the House of Representatives. "
And as for the other cases, they need to lift his immunity from Parliament, after which the court has the right to issue an arrest warrant.
Harb pointed out, "The new thing in the statement of the Federal Supreme Court is a mention to the House of Representatives indirectly, that {you, the House of Representatives, take the necessary measures regarding requests by the judiciary to lift immunity}, indicating that" it follows from that the inspiration to the House of Representatives that Although the lifting of immunity requires a vote by members of Parliament, but you must take into account the requests of the Judicial Council to lift the immunity of some deputies}, because there are transactions of up to twenty or more that are still in place demanding the lifting of immunity for some deputies, but it has not yet been lifted. .
He explained, "We consider these an introduction to cases that will happen in relation to issues of integrity, and that the Supreme Court in its statement today gave a good, accurate and profound signal in this area, and the House of Representatives must take the necessary steps to interpret the statement issued by the Federal Court."
The Federal Supreme Court decided today to revoke previous court decisions regarding obtaining the approval of the House of Representatives in all crimes for which members of the House of Representatives are accused, whether they are felonies, misdemeanors, or offenses. A crime of the type of felony that is not witnessed, except for the impunity of the members of Parliament, and legal measures can be taken against them directly in the event that any of them is charged with a felony, misdemeanor, or contravention.
The court also decided to reverse the court’s previous decision regarding the interpretation of the concept of an absolute majority. The court decided that the concept of an absolute majority wherever it is contained in the constitution is intended to be more than half of the actual number of members of the House of Representatives. As for the simple majority, what is meant is more than half of the number of members of the House of Representatives present after the quorum has been achieved.
He pointed out that "with this decision, the courts can settle corruption cases faster than before, because most corruption crimes apply to the description of misdemeanor crimes, and resolving them depends on lifting the immunity of the accused person, if he is a member of Parliament." LINK
Parliamentary Finance Shows The Impact Of The Increase In Oil Prices On The Iraqi Economy
Pratha News Agency89 2021-05-25 Today, Tuesday, a member of the Parliamentary Finance Committee, Jamal Cougar, pointed out to the most prominent doors that the financial surplus can be directed to from the global price difference of a barrel of oil.
Cougar said in a press interview that "global oil prices at this stage are considered very normal compared to the price in the federal budget, and it is not possible to talk about the existence of a surplus between the two prices, on many considerations, including that the prices are currently approximately 66 dollars per barrel of Brent type." Iraqi oil is two dollars less or a little more, and the net price in the budget is 45 dollars. "
Indicating that "Iraq's sale of oil at $ 62 a barrel is not considered a net amount for the country's treasury, given that the licensing rounds take between 14-16 trillion dinars, and for each barrel at least two dollars are given to companies, which means that the expenditures of each barrel amount to an estimate of up to 15 dollars, which means The surplus, even if it is there, will be very small. "
Cougar added, "In the event of an increase in global oil prices during the next few months, it is possible to benefit from it within the main chapters, the first of which is preparing a supplementary budget, given that holding elections in October will make it difficult for the next government and parliament to prepare a budget for the next year, which makes us need." To a supplementary budget ",
Pointing out that "the other door is the possibility of benefiting from the expected surplus to pay off outstanding external loans that were due for payment and were postponed in the budget, including the prices of gas exported from Iran to Iraq to operate the power stations."
"The third chapter is to feed the central bank’s reserves, from which a large amount of surplus amounts were withdrawn in previous periods, if they rose to large numbers, in order to revive it for its importance in the monetary and financial policy of the country." http://burathanews.com/arabic/economic/393098
The Ministry Of Oil Announces Total Oil Exports During The Past Month
Pratha News Agency84 2021-05-25 The Iraqi Ministry of Oil announced today, Tuesday, the total exports and revenues achieved for the month of April, according to the statistics of the oil marketing company "SOMO".
The ministry said in a statement that the amount of crude oil exports amounted to 88 million 398 thousand and 319 barrels, with revenues of 5 billion 549 million and 517 thousand dollars.
The statistics indicated that the total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to 85 million 534 thousand and 916 barrels. As for the Kirkuk fields through the port of Ceyhan, the exported quantities reached two million, 863 thousand and 403 barrels.
It indicated that the quantities and revenues of the exported crude oil shipments that were marketed at a price premium to achieve additional revenues during the month of April reached a total of more than 74 million 992 thousand and 080 dollars, while the average price per barrel reached 62.779 dollars.
http://burathanews.com/arabic/economic/393099
"Because Of The Dollar" ... A Continuous Rise In The Prices Of Construction Materials In Iraq
Economy Monday 24 May 2021 | 02:51 PM| Views: 122 The Iraqi Ministry of Planning announced, on Monday, the high prices of construction materials in the local markets, attributing this to "the high exchange rate of the US dollar against the dinar ."
The Ministry’s Central Bureau of Statistics said in a report, that “the high exchange rate of the dollar in the local markets has led to an increase in the prices of local and imported construction materials in the private sector in varying proportions at the level of all governorates of the country except for the Kurdistan Region,” indicating that “64 building materials were followed up. Record high prices in the local markets . "
He added that "the most important indicators of the materials most used and influential in the market were for three materials that included bricks, cement and iron," explaining that "the average price of ordinary bricks for the month of April last amounted to 168 thousand dinars per thousand bricks, registering a 20% increase over the average price of November, which It had reached 140 thousand dinars per thousand bricks, while the price of the Republican bricks for the month of April was 138 thousand dinars per thousand bricks, registering a 14% increase over the average price of the month of November, which amounted to 161 thousand dinars per thousand bricks .
The report indicated that "the average price of normal cement for the month of April last reached 104 thousand dinars per ton, recording an increase of 16% over the average price of November at 90 thousand dinars per ton, while the average price of resistant cement for the month of April was 126 thousand dinars per ton, registering an increase." By 13% of the average price for the month of November at 112 thousand dinars per ton .
The statistics agency report indicated that "the prices of iron (shutters) from foreign origin for the month of April amounted to one million and 210 thousand dinars per ton, registering a 55% increase over the average price of November at 779 thousand dinars per ton, while the average price of iron (shilman) ) For the month of April, 19 thousand dinars per meter, a 27% increase over the average price of November, which amounted to 15 thousand dinars per meter .
https://aynaliraqnews.com/index.php?aa=news&id22=147800
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