Iraqi News Wednesday AM 11-3-21
Iraqi News Wednesday AM 11-3-21
TLM724 Administrator BondLady’s Corner
Mazhar Saleh: In Early 2022, The File Of “Kuwait Compensation” Will Be Closed
Posted On 2021-11-03 By Sotaliraq Baghdad: Omar Abdul Latif The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, yesterday, Tuesday, that Iraq will end the file of Kuwait’s compensation file in early 2022, while revealing that the volume of financial compensation paid by Iraq during the past three decades exceeded $52 billion.
Salih told the Iraqi News Agency (INA): "Based on UN Security Council Resolution No. 692 issued on March 20, 1991, it was decided to establish the so-called United Nations Compensation Committee (UNCC) to deal with compensation claims resulting from Iraq's invasion of Kuwait in August 1990, as Iraq had Payment of compensation to international and Kuwaiti individuals and entities totaling approximately $52.4 billion, according to compensation lists approved by the United Nations Compensation Fund.
He added that "Iraq has recently paid $490 million of the compensation amounts approved by the United Nations Compensation Committee, and will work to pay the remaining amount of the total compensation estimated at $629 million, early next year 2022, to close the compensation file permanently."
In this context, the Committee of Financial Experts revealed that the Kurdistan region must pay $297 million in compensation as decided by the United Nations Committee for Kuwait.
The committee’s letter addressed to the Prime Minister’s Office in the Kurdistan Regional Council of Ministers last August, of which “Al-Sabah” obtained a copy, stated that since 2011 it has replaced the International Advisory and Monitoring Board (IAMB) under UN Security Council resolutions to oversee oil and gas exports. Natural and oil derivatives from Iraq, monitoring them and ensuring payment of the deduction percentage mentioned in the Council’s resolutions related to Kuwait’s war compensation.
She added that the committee's board of directors issued its resolution No. 276 of 2017, which includes amending the deduction rate from 5% to 0.5% in 2018 and 1.5% in 2019 and 3% for 2020.
And she added that the reports of the international auditing company Deloitte approved by the Kurdistan region indicated that in 2018 it exported 121 million and 729 thousand and 397 barrels at a price of 57,607 dollars, and 158 million and 512 thousand and 960 barrels at a rate of 52,676 dollars in 2019, and 158 million and 145 thousand and 412 barrels in 2020 at a rate of 28,100 dollar. LINK
Al-Rasheed Bank Directs Its Branches To Sell Building Bonds To Citizens
Banks Economy News _ Baghdad Al-Rasheed Bank announced, today, Wednesday, that it instructed its branches to directly sell (construction) bonds to citizens wishing to purchase.
And the bank’s media office stated in a statement received by “Al-Iqtisad News”, that “the bank set its instructions for the amount, interest and purchase mechanism, as it included specifying a bond worth (500,000) thousand dinars (five thousand dinars) at an interest of (6%) paid to the customer every six months for a period of two years. A bond in the amount of (1,000,000) (one million dinars) with annual interest (7%), to be paid every six months for a period of four years.
He added, "It is the right of the person, whether (naturally or morally) wishing to buy, to submit a direct request to the bank, accompanied by the original tariff documents, in return for the bank giving the customer a receipt for the amount he paid to purchase the bonds."
Views 134 Date Added 03/11/2021 https://economy-news.net/content.php?id=26721
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad "Economy News" publishes the exchange rates of the dollar against the Iraqi dinar, for today, Wednesday, in the local markets.
in Baghdad:
The selling price of the dollar is 148,500 per 100 dollars The purchase price of the dollar is 147,500 per $100 Views 118 Date Added 03/11/2021 https://economy-news.net/content.php?id=26718
The Market Index Rose In Wednesday's Trading By 0.29%
Iraqi Stock Exchange «Economy News» Market Economy News – Baghdad The Iraqi Stock Exchange (the stock exchange) index rose, on Wednesday, by 0.29%.
During the session 467.6 million shares were traded at a value of 371 million dinars.
In turn, foreign investors sold 12 million shares, at a value of 22 million dinars, after executing 29 deals on the shares of 3 companies.
Al-Khaz Road Company topped the gaining companies with 16.07%, followed by Gulf Insurance with 4.69%. While Dar Al Salam Insurance Company topped the losing companies with 5.77%, followed by the Middle East Bank Company with 4.76%.
The number of companies suspended by a decision of the Securities Commission for non-compliance with financial disclosure instructions reached 23 companies.
Views 48 Date Added 03/11/2021 https://economy-news.net/content.php?id=26724
Iraq And Iran Discuss Ways Of Cooperation In The Banking Sector
Economie| 01:29 - 03/11/2021 Baghdad - Mawazine News, Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, received, on Wednesday, his Iranian counterpart Ali Saleh Abadi, who is visiting Iraq accompanied by a banking and economic delegation.
The meeting, according to a statement by the Central Bank, received by Mawazine News, a copy of which was attended by the Director General of the Trade Bank of Iraq from the Iraqi side, dealt with "ways of cooperation in the banking sector between the two parties and the possibility of processing the financial dues of the Iranian side in accordance with the specific contexts of the agreement." Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=173499
A leader in the approach reveals a new mechanism for framing corruption legally
Political | 03:51 - 03/11/2021 Special - Mawazine News The National Approach Bloc revealed, on Wednesday, a new mechanism that legally frames corruption.
The leader of the National Approach, Muhannad al-Atabi, told Mawazine News, that "the issue of corruption and its concept, from rejection to admissibility during the electoral process, was overturned," stressing that "the stone of votes, the delay in closing the boxes, and the cancellation of Iraqis' votes with an incorrect procedure, proceeding with these errors and approving the results." The presentation of corruption shall be in accordance with the legal framework."
And Al-Atabi said, "The map of the upcoming political alliances is absent from the discussion of the coordination framework. The talk lies in the non-ratification of the election results in this situation and its categorical rejection."
He pointed to the difficulty of establishing any political or governmental map according to the current basics, as it is fragile and unable to build a state or establish a government. Ended 29/R77
https://www.mawazin.net/Details.aspx?jimare=173515
Warnings Of Organized Technical Campaigns Targeting Credit Card Holders In Iraq
Credit card Money and business Economy News – Baghdad The Digital Media Center (DMC) has warned of an organized online campaign targeting credit card holders in Iraq, with the aim of fraud and theft.
The center said in a statement seen by "Al-Iqtisad News", that it "observed during the last period the spread of links on the communication sites under the pretext of the existence of rewards or sums of money that the Iraqi government intends to pay to employees through their credit cards."
He added: "By following up on the links by the center's team, it turned out that they are fake and aim to persuade the public to reveal sensitive and important information in their credit cards that allow the attackers to withdraw money from these cards without the consent of their owners."
In its statement, the center warned that "phishing operations are still on the rise in Iraq and may develop in the near future, following the spread of the use of electronic cards and the state's trend towards digitizing the banking sector."
The center warned that "this matter requires the public to follow a number of tips and instructions for protecting their credit cards, the most important of which are: not to disclose card information or to purchase online except from trusted authorities, and to secure the protection of devices and Internet networks used in financial transactions."
The center advised to "review the recent activities of the account from time to time and inform the bank of any suspicious activity." Views 157 Date Added 03/11/2021 https://economy-news.net/content.php?id=26713
The Cabinet Secretariat Directs Retirement By Organizing The Electronic Form For Retirees
Today, Wednesday, the General Secretariat of the Council of Ministers directed, through the Department of Political Dismissed Affairs, the National Retirement Authority, to organize the electronic form for retirees and complete their retirement transactions as quickly as possible in accordance with the law.
The General Secretariat of the Council of Ministers said in a statement, "The directive was based on Article (6/Second) of Law No. (16 of 2013) the Second Amendment Law of the Political Dismissed Law No. (24 of 2005) as amended." https://www.radionawa.com/all-detail.aspx?jimare=26302
To read more current and reliable Iraqi news please visit BondLady’s Corner: