More Iraqi News Wednesday PM 6-16-21
More Iraqi News Wednesday PM 6-16-21
TLM724 Administrator BondLady’s Corner
Measures To Raise Iraq's Assessment In The Field Of Combating Money Laundering
Author: AhadNA3 On 6/16/2021 - 8:41 AM 54
The anti-money laundering and terrorist financing office at the central bank of iraq revealed executive measures to raise the level of iraq's assessment in the field of combating money laundering and terrorist financing.
An official source in the office stated, "The office has taken technical steps by the anti-money laundering and terrorist financing system by completing the coverage of the work plan developed by the International Cooperation Review Group (ICRG) of the Financial Action Team (FATF) by the Iraqi authorities. Starting the national risk assessment process, which is part of the update process every two years.”
And he indicated, "In light of this, the Anti-Money Laundering and Terrorist Financing Office has taken a number of measures to move forward with the national risk assessment, such as the formation of several teams concerned with the national risk assessment process, and through direct coordination with the World Bank, which adopted the technical assistance process on this subject."
The first stage, which is the induction stage and the explanation of the concepts of the process for the sub-groups that have been identified, has been completed, each according to the sector to which it belongs.
The source confirmed, "Within this framework, a member from each sector was chosen to be responsible for filling in the tables prepared by the World Bank, in addition, there is continuous coordination between the assessment team and the World Bank regarding providing continuous support in terms of collecting and analyzing statistics and data to determine the level of risks and threats." and weaknesses.”
He expected that “the World Bank will hold a three-day workshop with all concerned parties to show how to write the final report in a practical way, to be proactive measures for this process, such as issuing instructions and adopting new executive procedures, as the immediate treatment will raise the level of assessment of the Republic of Iraq.” https://alahadnews.net/206801/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/
Calls To Encourage National Industry And Control The Parallel Currency Market
Economie| 09:33 - 06/16/2021 Baghdad - An economic press release, a member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the government, on Wednesday, to support the local product in a successful way, by encouraging the national industry and controlling the parallel currency market.
Al-Attar said in a statement received by Mawazine News, that "the government should exempt raw materials entering the local industry from tax customs duties to encourage industry and national production, especially those used in production at a rate of no less than 40%."
He pointed out that "the continuous rise in the exchange rate of the dollar against the dinar contributes to the recovery of the importer and raises the prices of locally manufactured materials, which leads to an increase in the financial burden on the citizens."
Al-Attar stressed "the need to control the exchange rates of hard currency in the parallel market for currencies in the capital, Baghdad, to reduce the effects of the harm of frequent price changes."
The currency exchange rates during the last few period amounted to 152 thousand dinars per $100 bill in the local markets, while the Central Bank of Iraq sells the 100 dollars at a price of 145 thousand dinars. Suspect https://www.mawazin.net/Details.aspx?jimare=157165
The Iraqi Economic Council Calls On The Government To Support The Local Product In A Successful Way
Wednesday 16 June 2021 10:34 | Economic Number of readings: 263 Baghdad / NINA / - Member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the government to support the local product in a successful way, by encouraging the national industry and controlling the parallel currency market.
Al-Attar said in a statement, "The government should exempt raw materials entering the local industry from tax customs duties to encourage industry and national production, especially those used in production at a rate of no less than 40 percent."
He pointed out that "the continuous rise in the exchange rate of the dollar against the dinar contributes to the recovery of the importer and raises the prices of locally manufactured materials, which leads to an increase in the financial burden on the citizens."
Al-Attar stressed "the need to control the exchange rates of hard currency in the parallel market for currencies in the capital, Baghdad, to reduce the effects of the harm of frequent price changes."
The currency exchange rates during the last few period amounted to 152 thousand dinars for each $100 bill in the local markets, while the Central Bank of Iraq sells the 100 dollars at a price of 145 thousand dinars. https://ninanews.com/Website/News/Details?key=910329
Alia Nassif Calls On The Council Of Ministers To Retract An Agreement It Concluded With The Prime Minister Of Kurdistan, Which Includes Sending $200 Billion In Retrospect
Wednesday 16 June 2021 10:13 | Economic Number of readings: 375
Baghdad / NINA / - Representative of the State of Law coalition, Alia Nassif, called on the Council of Ministers to retract the agreement it signed with the Prime Minister of the Kurdistan Regional Government, which includes sending $200 billion to the region with retroactive effect, indicating that this agreement, which causes starvation in the rest of the provinces, has no legal basis in The existence of the financial budget.
She said in a statement today: "The Cabinet's decision to send $200 billion to the Kurdistan region retroactively does not have any legitimate or legal cover in the presence of the budget, as it cannot cancel the budget that was voted on by calculating the region's share of 250 thousand barrels per day."
Sixty-one dollars is the price of one barrel, i.e. a difference of (7-Cool dollars for one million, and therefore the region owes the federal government without counting non-oil imports.”
And she indicated: “The Council of Ministers, through this agreement, legitimizes giving the rights of the Iraqi people unfairly to the authority of the region and causes the rest of the provinces to be oppressed and starved,” calling for “cancelling the agreement and returning to the budget law, which was basically unfair and was passed reluctantly.”
Nassif called for "to achieve justice and equity in the distribution of wealth and resources, for everyone is equal, and there are no people of the first category and people of the second category, and at least consider the presence of hundreds of thousands of unemployed people who are waiting for appointments," indicating that "this unfair decision It is a provocation to the Iraqi street, and it must be canceled immediately.”/ https://ninanews.com/Website/News/Details?key=910322
The Government's Economic Advisor Describes The Issue Of Iraqi Debt As Very Complex
Wednesday 16 June 2021 13:13 | Economic Number of readings: 247
Baghdad / NINA / - The economic advisor to the Prime Minister, Mazhar Muhammad Salih, described today, Wednesday, the issue of Iraqi debts as being very complex, as it is divided between external and internal debts.
Saleh said in a statement: "The internal debts amount to 50 billion dollars and are met within the official and governmental financial system, and not to local creditors from the private sector, that is, they are from the state to the state," noting that "the remaining external debts payable does not exceed 23 billion dollars, which is programmed to be repaid within the debt services section of the annual general budget in order to amortize them.
He added, "A part of the foreign debt is a remnant of the debt rescheduling of the Paris Club Agreement, and the other was new to finance arming and equipping the armed forces due to the conditions of the war on ISIS terrorism after the year 2014.
Saleh pointed out that "the outstanding debts of 8 countries, including Iran, Saudi Arabia, Qatar, the Emirates and Kuwait, amounting to 40 billion dollars, and these countries have not written off their debts yet, although they are subject to the Paris Club," explaining that "it dates back to before 1990 and the validity of the claimed figure is questionable." Therefore, it must be written off by 80 percent upwards.
Otherwise, it is considered a formality and has no legal value, because the Paris Club Agreement to settle the external debt of Iraq and the debts before 1990, is binding and obligatory to write off, as Algeria, the United States and other friendly and brotherly countries did.” https://ninanews.com/Website/News/Details?key=910377
Oil Continues To Rise And Approaches $75
Pratha News Agency91 2021-06-16 Oil prices rose, today, Wednesday, with Brent crude rising for the fifth consecutive session, as the decline in inventories and the recovery of demand encouraged investors and demand for it.
Brent crude rose 64 cents, or 0.86 percent, to $74.63 a barrel by 05:18 GMT, after rising 1.6 percent on Tuesday.
US crude rose 57 cents, or 0.80 percent, to $72.89 a barrel, after rising 1.7 percent in the previous session.
Oil inventories fell 8.5 million barrels in the week ending June 11, according to two market sources, citing figures from the American Petroleum Institute on Tuesday.
Executives of top oil traders said Tuesday that they expect prices to remain above $70 a barrel and demand to return to pre-pandemic levels in the second half of 2022, after recovering across the United States, Europe and some large countries in Asia such as China. http://burathanews.com/arabic/economic/394502
Parliamentary Finance: The Coming Days Will Witness An Improvement In The Dollar Exchange Rate
09:33 - 14/06/2021 Information/Baghdad. A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Monday, that the coming days will witness further improvement in the dollar exchange rate, pointing out that speculators in the strongholds of the black market are behind the scheduled rise in the price.
Cougar said in a statement to "Al-Maalouma", that "the stability of the natural exchange rate as stated by the government and the absence of any intentions to change it," noting that "there is a monopoly by some traders for some basic materials, including the dollar."
He added that "the dollar is a commodity, like all commodities, rising due to the monopoly of some people and companies," stressing that "the coming days will witness more improvement in the dollar exchange rate."
On Sunday, Representative Mansour Al-Baiji confirmed that the unprecedented rise in the exchange rate, which we have always warned of its repercussions, has negatively affected the lives of citizens during the current situation due to the significant rise in food and medicine prices. https://almaalomah.org/2021/06/14/539716/
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