TNT:

Tishwash:  Next Monday.. The Iraqi parliament begins its legislative session

The State of Law bloc reported that the first legislative term for the second year of the Iraqi parliament will begin next Monday, through discussion and approval of a number of laws.

The representative of the bloc, Aref Al-Hamami, told Shafaq News agency, "The legislative recess of the parliament will end next Sunday, but the first legislative term for the second legislative year will start next Monday, January 9."

He added, "The new legislative term will witness the reading and amendment of the election law and the amendment of the unified retirement law, in addition to reading and amending the oil and gas law and many laws that need to be read in preparation for their approval within the House of Representatives."

On the eighth of last December, the Iraqi parliament entered a legislative recess for a period of 30 days, provided that it resumes its sessions as scheduled on the ninth of January.

It is noteworthy that the Presidency of the House of Representatives decided, on November 8, 2022, to extend the second legislative term of the first legislative year of the fifth electoral session, by one month, in order to "approve important laws  link

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Tishwash:  Deputy: four main tasks before Parliament for the next legislative term

Representative Muhammad Al-Shammari confirmed, on Wednesday, that the second legislative term will have four main tasks, foremost of which is approving the budget and hosting the Prime Minister, Minister of Finance and the Central Bank to discuss ways to develop a new monetary policy.

Al-Shammari said, in a statement to Al-Maalouma, that "the second legislative chapter, which the House of Representatives will start on the eighth of this month, has four main and essential tasks, foremost of which is approving the draft budget law in the first place." 

He added, "The issue of hosting the governor of the Central Bank of Iraq will be present, and it is possible that the prime minister and the ministers of finance and planning will be hosted to discuss ways to develop and correct monetary and banking policy, control the market, and the fluctuation of the dollar exchange rate."

Al-Shammari continued, "As for the other task, resolving the issue of chairing parliamentary committees after naming the vacant ministries has been completed and pressuring the government to send the provincial councils law for the purpose of discussing and approving it, or the vote on it will be postponed in the third legislative term as a maximum."   link

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Tishwash:  Al-Kazemi: The draft budget was submitted to the Council of Ministers

The Parliamentary Finance Committee expected two possible dates for the 2023 budget to reach parliament and vote on it.

A member of the committee, Mueen Al-Kazemi, said in a press statement, "According to our information, the Ministry of Finance delivered the draft budget to the Council of Ministers and the Economic Council, which met and discussed the draft and made some amendments."

Al-Kazemi added, "It is assumed that the Council of Ministers will approve the budget at a later date and hand it over to the House of Representatives after the end of the legislative recess on January 8."

He continued, "The consensus between the political blocs and the meeting of the Kurdish forces in Baghdad with Prime Minister Muhammad Shia' al-Sudani resolved many points, and the blocs have a desire to approve the budget to start work and complete the expected service projects."

The deputy pointed out that "achieving this will allow the budget to reach the stage of voting on it in the House of Representatives in the middle of next February, provided that the government begins to initiate projects that await the budget at the beginning of March and implement what is included in the government program."  link

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Tishwash:  Against the rise in the price of the dollar.. "angry" demonstrations in front of the Central Bank building in Baghdad

On Wednesday, a number of citizens organized angry demonstrations in front of the Central Bank building in the capital, Baghdad.  

Our correspondent reported (January 4, 2023), that "a number of citizens organized demonstrations in front of the Central Bank building on Al-Rashid Street in Baghdad, through which they raised banners calling for a reduction in the exchange rate of the dollar."  

Pictures monitored by "NAS" showed a side of the demonstrations that coincided with continuous showers of rain, amid an intense security deployment. 

Today, Wednesday, the exchange rates of the dollar continued to rise against the dinar in the local markets in the capital, Baghdad.

The selling price of the dollar in exchange shops was 157,750 dinars for every 100 dollars, while the purchase price was 156,750 dinars for every 100 dollars.

This morning, the (Baghdad Today) correspondent said, "The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 155,600 dinars against 100 dollars."

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad recorded an increase, as the selling price reached 156,500 dinars, while the purchase price reached 155,500 dinars per 100 dollars."

On December 27, 2022, the Central Bank of Iraq issued a statement regarding the rise in the exchange rate of the dollar against the Iraqi dinar, calling on banks to assume their responsibilities in facilitating and accelerating procedures for their customers to ensure their access to financing with the best banking practices.

And the Central Bank stated in its statement, which was received by (Baghdad Today), that “the Board of Directors of the Central Bank of Iraq met on December 27, 2022 and discussed the repercussions and indicators of the rise in exchange rates in the local markets and what the foreign currency exchange rate has been exposed to for days, from temporary pressures resulting from internal factors.” And external, given the adoption of mechanisms to protect the banking sector, customers and the financial system.
He added that "all foreign trade requirements (for the purposes of documentary credits or transfers) are fully covered by the official price (1465) dinars to the dollar for documentary credits and (1470) dinars to the dollar for transfers."

The Central Bank called on merchants to "review banks directly and not resort to brokers and speculators to avoid charging their imports with undue commissions and expenses," referring to "what was issued by the Council of Ministers in its decision No. (351) for the year 2022 regarding non-payment of customs duties and amounts of tax secretariats in advance. This will reduce redundant loops, ease procedures, and remove costs resulting from pre-demarcation problems.”

It is noteworthy that the Prime Minister, Muhammad Shia' al-Sudani, met last Tuesday morning with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, where he listened to a detailed presentation from the bank's governor regarding the rise in the foreign exchange rate, and the most important measures taken by the bank in this field.

And the Prime Minister urged, according to a statement, the Central Bank to achieve general stability of prices and the exchange rate, in accordance with the tasks stipulated in Articles (3 and 4) of the Central Bank of Iraq Law, which stipulate that the Central Bank aims to achieve stability in the local exchange rate, and to regulate and monitor the work of banks. Enhancing the safety and efficiency of payment systems and developing the payment system.

The Prime Minister stressed the need for the bank to take the necessary measures to prevent illegal speculation, and everything that harms the local market and leads to a rise in prices. He also urged Al-Sudani to activate the steps to sell foreign currency at the official prices to citizens through purchasing with electronic cards, and to open sales outlets for travelers or clients outside Iraq. , or financing foreign trade, in accordance with the fundamentalist contexts and international standards for opening documentary credits and remittances.

The governor of the bank presented to the Prime Minister the positive position of the financial situation, stressing that the crisis regarding foreign currency is an emergency crisis for technical reasons, and coincided with the work of the new electronic platform and the delay in transfers due to the Christmas holidays.

The governor praised Council of Ministers Resolution No. 352 of 2022 to stop the work of pre-collection of taxes and customs duties on goods entering government ports, prevent double taxation, and collect them according to the approved contexts at border crossings.  link

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Mot: . Making it Work Is the Key!! ~~~