More Iraqi News Wednesday PM 6-23-21
More Iraqi News Wednesday PM 6-23-21
TLM724 Administrator BondLady’s Corner
Parliamentary Finance Hosts The Governor Of The Central Bank
06/22/2021 On Tuesday, 22/6/2021, the Finance Committee, headed by Representative Dr. Haitham Al-Jubouri, the Chairman of the Committee, and the presence of its members and a number of other parliamentary committees, hosted the Governor of the Central Bank, Mr. Mustafa Ghaleb Mikhaif, and the Deputy Governor Ammar Hamad Khalaf.
The periodic meeting, which took place at the headquarters of the Finance Committee, discussed the steps that the Central Bank promised to implement to reduce the repercussions and effects of changing the exchange rate, the issue of selling currency and facing the process of its depletion and ways to preserve and invest it properly.
The Finance Committee discussed the projects, plans and loans that the Bank promised to implement after changing the currency exchange rate. The Committee stressed the need to abide by those promises and the speed of their implementation, particularly those that contribute to the employment of unemployed youth, support the housing, industry, and agricultural sectors, support the local product, and ease restrictions and routine procedures on them.
The committee then discussed the issue of electronic linking between the ministries of commerce and finance, the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021.
The Finance Committee called on the Central Bank to take the most strict measures against banks that violate regulations, stressing its support for the bank in this regard, as the current period requires concerted efforts among all authorities.
The committee was also directed to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country.
For his part, the central bank governor provided an explanation of what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate, revealing at the same time the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as close Issuing bonds that enable citizens to invest their money. Media Department House of Representatives May 22, 2021 LINK
The Central Bank Launches An Initiative Worth 5 Trillion Dinars
Wednesday 23 June 2021 204 Baghdad: morning The Central Bank of Iraq launched an initiative worth 5 trillion dinars, in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as the imminent issuance of bonds that enable citizens to invest their money.
The Parliamentary Finance Committee stated, in a statement, that it "hosted, headed by the Chairman of the Committee, Representative Haitham Al-Jubouri, and in the presence of its members and a number of members of other parliamentary committees, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, and the Deputy Governor Ammar Hamad Khalaf."
The statement added, "The periodic meeting that took place at the committee's headquarters discussed the steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, and the issue of selling the currency and confronting the process of its depletion and ways to preserve and invest it properly."
He pointed out that "the committee discussed the projects, plans and loans that the bank promised to implement after changing the currency exchange rate," stressing "the need to adhere to those promises and the speed of their implementation, in particular those that contribute to the employment of unemployed youth and support the housing, industry and agriculture sectors, support the local product and ease restrictions and routine procedures on them." ".
He continued, "The committee discussed the issue of electronic connectivity between the ministries of commerce and finance and the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings," stressing "the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."
The committee called on the Central Bank to "take the strongest and strict measures against banks that violate regulations," renewing "its support for the bank in this regard, as the current period requires concerted efforts among all authorities."
The committee was directed to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country.
For his part, the Governor of the Central Bank provided a clarification on what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate. LINK
The Ports Company: The Great Port Of Faw Is Witnessing An Accelerated Work Movement With The Implementation Of Projects
Wednesday 23 June 2021 10:07 | Economic Number of readings: 306 Basra / NINA / - The General Company for Ports of Iraq announced that "the great port of Faw is witnessing an accelerated work movement in the implementation of projects whose contracts have been concluded by the Ministry of Transport / the operating company for Iraqi ports, as it is the most important project in Iraq, which will be a major and important tributary to the country's national economy.
" The Director-General said The company, Farhan Muhaisin Al-Fartousi, said in a statement, “The Ministry of Transport and the ports of Iraq are determined to implement the great port of Al-Faw, where works have been started on the main road part with a length of (6.5 km), and the implementation of the work of the space layers and the continuation of the work of implementing the layer (CBM) (a mixture of gravel and sand that is treated with cement) and mixing it in the central mixer inside the port in proportions conforming to the standard specifications..
Spraying (prime coat) to prepare to start tiling works with the base layer and studying an additional paragraph to implement pavement delimiters (kerb) for both sides of the road with the addition of a protection layer for the slopes.
Al-Fartousi continued, that Iraq's ports are preparing to start the container terminal contract as well, while soil stabilization equipment has arrived at the rocky sealing sites, and this will enhance the speed of work. He pointed out that laboratory tests for soil improvement models were completed using mixing different quantities of cement to reach the required compressibility values and appropriate mixing ratios.
He added, "The experimental work of the soil stabilization equipment was started and compared with the laboratory results in order to obtain the best percentage of the amount of cement used in treating and improving the properties of the soil and continuing the burial work to pay," indicating that a level of (1.0) meters above the water level was reached in some sections.
Iraq signed, with the South Korean company "Daewoo", a contract for the construction of the first phase of the Faw port, south of Basra, at a total cost of $2.62 billion. To establish 5 berths for commercial ships, and to establish the navigational channel leading to the port of Faw within the first phase of the port’s construction phases./End https://ninanews.com/Website/News/Details?key=911598
Brent Jumps To $75.23 A Barrel
Economie| 09:12 - 23/06/2021 Follow-up - Mawazine News: Oil prices rose, on Wednesday, after industrial data showed that US crude stocks fell more than expected, which reinforced views of a tightening balance between supply and demand with the recovery of land and air travel in Europe and North America.
US West Texas Intermediate crude futures jumped 33 cents, or 0.5 percent, to $73.18 a barrel at 05:07 GMT, after falling 60 cents on Tuesday.
Brent crude futures jumped 42 cents, or 0.6 percent, to $75.23 a barrel, after losing 9 cents on Tuesday.
The American Petroleum Institute industry group reported that crude oil inventories fell by 7.2 million barrels for the week ending June 18, according to two market sources.
All eyes are on what the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, plan to do when they meet on July 1 as they gauge the recovery in demand.
The US dollar's decline from its two-month high late last week also helped support oil prices, as the dollar's weakness made oil less expensive in relation to other currencies.
https://www.mawazin.net/Details.aspx?jimare=158010
Oil Announces Statistics On The Quantities Of Exported Crude And Its Revenues For The Month Of May
Pratha News Agency76 2021-06-23 Today, Wednesday, the Ministry of Oil announced the statistics on the quantities of exported crude and its revenues for the month of May.
The ministry stated in a statement that "according to the final statistics issued by the Iraqi Oil Marketing Company SOMO, the amount of exports of crude oil amounted to (89) million (881) thousand and (268) barrels (eighty-nine million eight hundred and eighty-one thousand two hundred and sixty-eight barrels)," Revenues amounted to (5) billion and (917) million and (932) thousand dollars (five billion, nine hundred and seventeen million, nine hundred and thirty-two thousand dollars).
The statistics indicated that "the total quantities exported of crude oil for the month of May from the oil fields in central and southern Iraq amounted to (86) million and (820) thousand and (355) barrels, while from the Kirkuk fields through the port of Ceyhan, the exported quantities amounted to (3) One million (60) thousand and (913) barrels.
The statistics indicated that "the exported quantities were loaded by (32) international companies of different nationalities, from the ports of Basra, Khor Al-Amaya, mono-buoys on the Gulf and the Turkish port of Ceyhan. She noted that "the average price of a barrel amounted to (65,842) dollars."
http://burathanews.com/arabic/economic/394921
Integrity: Ratification Of Judgments Issued Against The Director Of The Agricultural Bank And Its Branch In Salah Al-Din
Pratha News Agency90 2021-06-23 Today, Wednesday, the Federal Integrity Commission announced the approval of the Federal Court of Cassation of the rulings issued by the Central Anti-Corruption Criminal Court against the former director of the Agricultural Bank and the former director of its branch in Salah al-Din Governorate, and a number of employees in them.
The Commission’s Investigation Department stated in a statement, “The Federal Court of Cassation has incriminated the convicts of (Adel Attia Khudair), director of the Agricultural Bank, (Nizar Owaid Jassim), manager of the bank’s branch in Salah al-Din Governorate, and three employees by approving the decision of the Central Anti-Corruption Criminal Court, which judge Each of them will be imprisoned for six years, and a fine of ten million dinars, based on the provisions of Article (340) of the Penal Code, and the appeals submitted by all convicts shall be dismissed.
She referred to the merits of the case, which came against the background of the seizure operations carried out by the authority and the investigations it conducted in cooperation with the Diwani Order Committee (29), to the convicts granting loans in violation of the controls and instructions;
In exchange for receiving bribes and gifts, and as a result of the available evidence, the Central Anti-Corruption Criminal Court issued its decisions against them on (9/2/2021), and after the consideration of the Federal Court of Cassation was sympathetic to those decisions;
As a result of the appeals submitted, it was found that the decisions were correct and in accordance with the law, and sufficient evidence revealed by the facts of the case was adopted for investigation and trial; decided to ratify it; Based on the provisions of Article (259/A/1) of the Code of Criminal Procedure.
The authority had announced in mid-October that it had issued a ruling to imprison the former director of the Agricultural Bank on the grounds of his conviction of the crime of wasting public money, while in mid-April it disclosed that it was able to seize checks in the bank’s branch in Salah El-Din Governorate, which were spent in cash without implementing its projects. http://burathanews.com/arabic/news/394915
To read more current and reliable Iraqi news please visit BondLady’s Corner: