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Al-Alaq: Opening a special lounge for private banks to sell dollars at Baghdad Airport 00:37 2023-10-17 197 Economy 0 The Governor of the Central Bank, Ali Al-Alaq, announced the opening of a special hall for private banks to sell dollars to travelers at Baghdad International Airport. While he spoke about the reasons for the rise in dollar prices in parallel markets, Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, pointed out that “the Ministerial Council The economy will consider increasing the interest rate on deposits.” During the thirty-first session of 2023 of the Ministerial Council for the Economy, which was chaired by Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, on Monday, Al-Alaq provided a detailed explanation of the tasks and objectives of the Central Bank and monetary policy in Iraq, noting that “the exchange rate depends primarily on imports and not on... Local production, and that the exchange rate in Iraq has peculiarities because it is linked to the price of oil, as it is the largest source of providing hard currency,” according to what was stated in a statement by the Ministerial Council, Monday. Al-Alaq, according to the statement received by Al-Mutalaa Agency, added: “Many factors affect the exchange rate, the most important of which is the leakage of the dollar to neighboring countries and internal dealing in local markets in a currency other than the national currency, as well as the lack of complete control over ports and smuggling,” pointing out that “The level of inflation has decreased significantly, and the goods that enter officially are witnessing price stability because imports are covered by the official price.” The Governor of the Central Bank pointed out “opening a special hall for private banks to sell dollars to travelers at Baghdad International Airport, in addition to raising the interest rate for amounts deposited in banks to 7.5 percent, with the aim of encouraging citizens to deposit their amounts in banks, and to withdraw the cash mass outside the banks.” After substantive and serious discussions, the statement quoted Deputy Prime Minister and Foreign Minister Fouad Hussein as saying: “The Council will study in depth this important issue, and will also follow up on the localization of salaries for all workers in the government sector, and then the mixed sector, all the way to the private sector, as well as... Studying the increase in the interest rate on deposits,” pointing out, “We are looking forward to building basic future tools that will help the Central Bank and the Ministry of Finance assume their role in a manner commensurate with the nature of their work.” Hussein, confirmed that “the Council decided to proceed with the establishment of a project to demolish and build (Ibn Sina) Specialized Hospital with a capacity of 600 beds in Nineveh Governorate to serve the people of that governorate,” according to what was stated in the statement, which indicated that “the session witnessed the presence of the Deputy Prime Minister and Minister of Planning, and ministers.” Finance, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Undersecretary of the Ministry of Oil, the Vice-Chairman of the National Investment Authority, the Chairman of the Securities Commission and the Prime Minister’s advisors for economic and legal affairs, as well as hosting the Chairman of the Finance Committee in the House of Representatives, and a number of committee members to discuss the dollar exchange rates in the markets. "Iraqiya." The crisis of the dinar's exchange rates against the dollar has been ongoing in Iraq since late last year, which is witnessing "fluctuation" despite measures taken by the country's central bank with the aim of stabilizing currency prices. Last February, the Central Bank decided to raise the value of the official exchange rate of the dinar against the dollar by 10 percent in a measure aimed at reducing the decline in the value of the currency that accompanied the adoption of more stringent regulations regarding financial transfers outside the country. The Iraqi government then agreed to the Central Bank’s proposal to raise the value of the exchange rate from about 1,470 dinars to 1,300 dinars per dollar, which had a clear impact on the exchange market at that time by reducing prices that reached the level of 1,700 dinars in the parallel market, but that stability did not continue due to controls. Strict regulations were imposed by the New York Federal Reserve on international transactions in dollars for Iraqi commercial banks last November. The United States prevented 14 Iraqi banks from conducting transactions in dollars as part of a comprehensive campaign to transfer the American currency to Iran and other countries subject to sanctions in the Middle East. According to the advisor to the Prime Minister, Fadi Al-Shammari, the sanctioned banks were financing 116 local exchange companies. This comes a day after a noticeable decline in the exchange rate, after it had exceeded 1,600 Iraqi dinars in recent days, as the Iraqi dinar maintained its limited progress against the US dollar on Iraqi stock exchanges, as the dollar exchange rate recorded, on Monday, less than 1,580 dinars. Iraqi.

A new statement by the Iraqi Central Governor regarding the dollar exchange rate Economy |Yesterday, 23:28 | Baghdad today - Baghdad Today, Monday (October 16, 2023), the Governor of the Central Bank of Iraq, Ali Al-Alaq, identified several factors affecting the dollar exchange rate, the most important of which is the leakage of the dollar to neighboring countries. During his attendance at the meeting of the Ministerial Council for the Economy, headed by Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein, and hosting the Parliamentary Finance Committee, Al-Alaq provided “a detailed explanation of the tasks and objectives of the Central Bank and monetary policy in Iraq,” noting, “The exchange rate depends primarily on imports and not on local production, and that The exchange rate in Iraq has peculiarities because it is linked to the price of oil, as it is the largest source of providing hard currency.” He pointed out, "Many factors affect the exchange rate, the most important of which is the leakage of the dollar into neighboring countries and internal dealing in local markets in a currency other than the national currency, as well as the lack of complete control over ports and smuggling." Al-Alaq added, "The level of inflation has decreased significantly, and the goods that enter officially are witnessing price stability because imports are covered by the official price." Al-Alaq noted, "We opened a special lounge for private banks to sell dollars to travelers at Baghdad International Airport, and we raised the interest rate for amounts deposited in banks to 7.5 percent to encourage citizens to deposit their amounts in banks and to withdraw the cash mass outside the banks." After “substantive and serious discussions,” the Deputy Prime Minister and Minister of Foreign Affairs indicated that the Council will study in detail this important issue and will follow up on the localization of salaries for all workers in the government sector and then the mixed sector, reaching the private sector, and study increasing the interest rate on deposits, adding, “We are looking forward to building tools.” A future basis that helps the Central Bank and the Ministry of Finance assume their role in a way that is appropriate to the nature of their work.” The Council also decided to proceed with the construction of a project to demolish and build a 600-bed Ibn Sina Specialized Hospital in Nineveh Governorate to serve the people of that governorate.

Al-Nusairi calls for supporting and implementing the Central Bank’s measures in financial and banking reform money and business Economy News _ Baghdad Advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, called for the ministries, concerned authorities and banks to support and implement the Central Bank’s procedures to achieve financial and banking reform based on the axes of its new strategy, which relies primarily on regulating foreign trade, maintaining the general level of prices, and reducing the inflation rate, which is one of the basic goals of the policy. Cash. Al-Nusairi indicated in an interview with Al-Eqtisad News that the percentage of external transfers on the electronic platform exceeded 95 percent of merchants’ daily transfers, and efforts are continuing to conclude agreements with countries to adopt their local currencies such as the Indian rupee, the Turkish lira, the Emirati dirham, and the euro for direct dealing instead of the US dollar. . He stated that it is in line with the campaign to support the Iraqi dinar in internal and external transactions, the Prime Minister’s announcement of Iraq’s desire to enter the BRICS group, as approximately 70% of the total trade exchange takes place with China, India, and Brazil, in addition to the fact that 50% of Iraq’s oil exports are through the BRICS countries. This is an important step if the group accepts the joining of Iraq. Al-Nusairi confirmed that the Central Bank’s departure from the platform method in 2024 will contribute to the fact that external transfers will be made directly between the Iraqi merchant and the exporter through the correspondent banks that will be approved and international companies that undertake pre-audit operations. Al-Nusairi concluded his speech by saying that the challenges faced by the Central Bank and the government against the financial and banking reform strategy, and that what is spread by speculators, the corrupt, and their media and analysts, will not last long, as the battle will inevitably be decided by completing comprehensive financial and banking reform processes and stabilizing the exchange rate within the targeted limits. Views 79 Added 10/17/2023 - 10:55 AM

Tasks of the office of following up and coordinating the work of the branches October 17, 2023

Office for following up and coordinating the work of the branches of the Central Bank of Iraq

Dollar transfers at the Iraqi currency auction rise by 77% today 2023-10-17 05:48 Shafaq News/ External remittances increased at the Central Bank of Iraq auction, today, Tuesday, by 77% at the expense of cash sales, to reach 162 million dollars. Shafaq News Agency correspondent stated that the Central Bank sold today, during its auction for buying and selling the US dollar, 199 million 829 thousand and 639 dollars, which the bank covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers. Price fluctuations per dollar in cash. Our correspondent added that most of the bank’s dollar sales went to strengthening balances abroad in the form of (remittances, credits), which amounted to 162 million, 679 thousand and 639 dollars, an increase of 77%, compared to cash sales amounting to 37 million and 150 thousand dollars. Our correspondent pointed out that the number of banks that purchased cash dollars reached 5 banks, while the number of banks that responded to requests to enhance balances abroad reached 18 banks, while the total number of exchange and brokerage companies participating in the auction was 93 companies.

Kurdistan Region.. A fourth bank has joined an accounting project: It will provide multiple options for citizens 2023-10-16 13:56 Shafaq News/ The Kurdistan Regional Government announced, today, Monday, that BBAC Bank has joined the “My Account” project, to be the fourth bank participating in this project, pointing out that this will be a reason for healthy competition between banks to provide services to employees and salary earners. The Regional Government’s Media and Information Department said in a statement received by Shafaq News Agency, “The Regional Government gladly announces that BBAC Bank has joined the “My Account” project, and thus the total number of banks participating in it has become four banks, namely: RT-Ashur-Cihan-BBAC. . The statement added, "This process forms part of the continuing efforts made by the regional government to expand projects and provide multiple options for citizens." The statement pointed out that "an accounting project will create a state of competition between banks according to what the citizen needs and allows beneficiaries and salary earners in the Kurdistan Region to choose the bank they wish to deal with, adding that it provides clear information regarding banking wages and the services provided by the banks." The statement expected that other banks would join the project in the near future. On October 11, 2023, the Prime Minister of the Kurdistan Regional Government described the (My Account) project in the Erbil Police Directorate as being of benefit to all of Iraq and enjoying the support of the Prime Minister of the Federal Government, Muhammad Shia al-Sudani, and the Governor of the Central Bank of Iraq, while stating that the project would include all employees of the region, respectively.

Dollar prices rise again in Baghdad and Erbil 2023-10-17 03:22 Shafaq News/ Dollar prices rose today, Tuesday, in Baghdad markets and in Erbil, the capital of the Kurdistan Region. Shafaq News correspondent said that dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 158,800 dinars against 100 dollars. While prices yesterday, Monday, were 157,500 dinars compared to 100 dollars. Our correspondent pointed out that the selling prices in the exchange shops in the local markets in Baghdad rose, as the selling price reached 159,750 Iraqi dinars, while the purchasing price reached 157,750 dinars for every 100 dollars. As for Erbil, the dollar recorded an increase in banking shops, as the selling price reached 159,000 dinars, and the purchase price reached 158,900 dinars for 100 dollars.

The oil and gas law will be postponed to the next legislative year.. Representative: We need 6 months Policy 2023-10-17 | 08:13 Source: Alsumaria News 255 views Alsumaria News - Politics The Oil, Gas and Natural Resources Committee confirmed today, Tuesday, October 17, 2023, its need for 6 months in order to reach a draft oil and gas law that is consistent with all parties, while indicating that the committee formed by the Kurdistan Regional Government presented a vision about Oil and Gas Law to the Ministry of Oil. The head of the Legislation Committee in the Oil, Gas and Natural Resources Committee, Representative Ali Shaddad, said in an interview with Al-Sumaria News, “This committee (Legislation Committee) is one of the important subcommittees in the parliamentary Oil and Gas Committee, and it is a committee concerned with legislation and laws for the oil and gas sector.” Regarding the outcomes of today’s meeting, Shaddad said, “In this meeting, the Director General of the Legal Department and a group of jurists in the Ministry of Oil were hosted,” noting, “We have a group of laws in the oil sector that need amendments, and 7 laws were discussed in today’s meeting related to the oil sector.” And gas, the most important of which are the amendments to the National Oil Company Law,” noting that “most believe that the National Oil Company Law was canceled by the Federal Court, but the truth is that some of its provisions were canceled and the formation of this company was stopped, and therefore we need a group of amendments in order for this law to be implemented.” "The light is coming again, and these are the federal government's directives to the Ministry of Oil." He continued, "One of the most important laws is the oil and gas law, and there are a series of meetings that reached 6 meetings, 3 of which were with the committee formed by the regional government and 3 meetings in which the governors and representatives of the oil-producing governorates were hosted," noting that "the Ministry of Oil arrived To a preliminary draft that brings together ideas, whether from the Kurdish side or the oil-producing provinces, and we need repeated meetings on this aspect in order to reach a common vision on the oil and gas law.” Shaddad added, “There may be a delay during the next two months due to the Iraqi provincial council elections, and we need 6 months to reach a draft oil and gas law that is consistent with all parties,” explaining that “the committee by the regional government presented a vision about the oil and gas law to the Ministry of Oil and this The vision is the texts and standards that the regional government wants to be present in the law.” He explained, “We are counting on the first reading of the project in the third legislative year, and this is what we emphasized with the Ministry of Oil and reaching a unified vision and draft, as we do not accept it to be more than one draft,” adding, “There will be fatigue and anger on the part of some parties, but Iraq needs this law.” He stressed that “in this committee we have a group of new projects, such as the draft carbon footprint law and also the draft oil-agricultural coexistence law, and this is one of the important projects,” pointing out that “it was agreed today that there will be a representative from some companies in the oil and gas sector linked to the legislation committee located in Parliamentary Oil and Gas Committee. Al-Sumaria's correspondent stated earlier today that the Parliamentary Oil and Gas Committee met with the subcommittee formed by the committee to address legal amendments (legislation), including the Oil and Gas Law and the National Oil Company Law.

Announcing the auction of Islamic certificates of deposit October 17, 2023 We would like to inform you that the auction of Islamic certificates of deposit numbered ( ICD123 ) has been announced and has a deadline of ( 14 ) days. The auction execution date will be Sunday, 10/22/2023, according to what was published in the Central Securities Custody System ( CSD ) , and Islamic banks can participate from the date Publish the announcement until the day of implementation.

Good Morning nannab and all of DV

Amidst revealing the reasons for the delay... a Kurdish delegation to Baghdad to discuss salaries and the budget 2023-10-16 05:20 Shafaq News/ A source in the Ministry of Finance of the Kurdistan Regional Government revealed, on Monday, that a delegation from the regional government will visit the capital, Baghdad, tomorrow, Tuesday. The source told Shafaq News Agency, "The delegation will hold a meeting with the Finance Committee in the Iraqi Parliament on Wednesday to discuss the salaries and budget file." He added, "The region's Finance Minister will be part of the Kurdish delegation, in addition to a number of government officials in Kurdistan." In this context, the representative of Sulaymaniyah Governorate, Soran Omar, revealed the reasons for delaying the payment of salaries to the region’s employees and not implementing the provisions of the federal budget for the current year. Omar said in an interview received by Shafaq News Agency, “The Office of the Federal Prime Minister confirmed that the Baghdad government has not yet reached a legal agreement with the Kurdistan Regional Government Committee to send funds to the region in accordance with the 2023-2024-2025 budget law.” He added, “On August 28, 2023, I sent letter No. (617/D) to the Iraqi Prime Minister regarding the non-implementation of the budget law and failure to finance the Kurdistan Region according to the share allocated to it in the law, and in accordance with letter No. (2329322/3002) dated 10/2023.” /11 The Prime Minister’s Office responded and confirmed that the two committees of the central and regional governments did not reach any legal agreement, and therefore the Kurdistan Region was not funded according to the budget law.” Omar explains, “The region was late in disbursing three months’ salaries with the loan it obtained, and it is still unclear what will be the fate of the three months’ salaries.”

The Kurdistan Government announces the adoption of the Iraqi dinar instead of the dollar in customs duties 2023-10-16 08:24 Shafaq News/ The Kurdistan Regional Government announced, on Monday, the adoption of the Iraqi dinar in customs duties instead of the US dollar. The Regional Government’s Media and Information Department said, in a statement received by Shafaq News Agency, “The Kurdistan Regional Council of Ministers decided, in accordance with a document, to adopt the Iraqi dinar at all border crossings to receive customs duties.” The statement added, "All ministries are obligated to implement the decision, and in the event of a violation, legal measures will be taken."

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External remittances increased by 77% in the Central Bank of Iraq auction 2023-10-16 05:33 Shafaq News/ External remittances at the Central Bank of Iraq auction increased by 77% on Monday, at the expense of cash sales, to reach $160 million. Shafaq News Agency correspondent said that today during its auction for buying and selling the US dollar, the Central Bank sold 197 million 840 thousand and 296 dollars, which the bank covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers, and at 1310 dinars per dollar in cash. Our correspondent added that most of the bank's dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 160 million 860 thousand and 296 dollars, an increase of 77%, compared to cash sales amounting to 36 million and 980 thousand dollars. He pointed out that the number of banks that purchased cash dollars reached seven banks, while the number of banks that responded to requests to enhance balances abroad reached 20 banks, while the total number of exchange and brokerage companies participating in the auction was 69 companies.

A new decline in dollar prices in Baghdad and Erbil 2023-10-16 03:45 Shafaq News/ Dollar prices decreased, today, Monday, in Baghdad markets and in Erbil, the capital of the Kurdistan Region. Shafaq News Agency correspondent said that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record $157,500 against $100, while prices yesterday, Sunday, were 159,850 dinars against $100. Our correspondent pointed out that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 158,500 Iraqi dinars, while the purchasing price reached 156,500 dinars for every 100 dollars. As for Erbil, the dollar also recorded a decline, as the selling price in banking shops was recorded at 158,000 dinars against the dollar, and the purchase price was 157,900 dinars against 100 dollars.

Al-Sudani directs to simplify all banking procedures and propose effective treatments Time: 10/15/2023 21:19:54 Read: 1,989 times {Local: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani chaired, this evening, Sunday, a meeting that included the Governor of the Central Bank and directors of government banks, in which the procedures and work mechanisms taken to achieve banking reform were discussed, which constitutes one of the basic steps for financial and economic reform that the government adopts in its approach. Executive. Al-Sudani stressed, according to the government statement, a copy of which {Al-Furat News} received, that: “Financial reform is not just a slogan, but rather a series of terms and procedures that the government is determined to implement without hesitation, and will face all the challenges and obstacles that impede the implementation of systematic and thoughtful reform plans.” Al-Sudani directed, “to simplify all banking procedures, and to prepare a proposed list of facilities and simplified procedures to be presented within a week, in addition to providing a summary of the obstacles obstructing the banking reform process, and proposing effective and implementable treatments for them, in a way that helps in overcoming the approved traditional contexts, which transform... Without achieving the government’s goal of developing this important economic and service sector.”

A parliamentary committee reveals the reasons for the delay in launching allocations for ministries and governorates Time: 2023/10/16 12:51:40 Read: 1,040 times {Economic: Al-Furat News} A member of the Parliamentary Oil and Gas Committee revealed the reasons for the Ministry of Finance’s delay in releasing allocations to ministries, institutions, government departments and governorates so far, despite months having passed since the approval of the tripartite budget. Kazem Al-Touki told Al-Furat News Agency, “Two weeks ago, the Ministers of Finance and Planning were hosted to find out the reasons behind the delay in paying the financial dues allocated in the budget and the non-payment of advances and commitments in the budget item, provided that 80% of the financial allocations continue to be paid.” To sustain projects. He added, "The Ministry of Finance does not give the real reasons behind non-payment of these allocations," suggesting that "the undeclared reasons are the lack of financial liquidity or crossing the largest possible period of time to avoid the financial deficit." It is noteworthy that, after five months have passed since the adoption of the federal general budget law, it has not been implemented yet, for reasons that specialists attributed to the delay that occurred in enacting the law and then in issuing implementation instructions, while others attributed it to the fear that its funds would be exploited in the scheduled local elections. On December 18th. For the first time in its history, Iraq approved a three-year financial budget in a single draft law, which Parliament voted on last June. The government defended the step by saying that it aims to develop plans for important projects in the country, in addition to avoiding the problem of delaying the approval of financial budgets every year for several months. The budget for the current year and the next two years, according to the budget law, amounted to 153 billion dollars, with an expected deficit of up to 48 billion dollars, and the oil price was approved at 70 dollars per barrel, as Iraqi oil exports constitute more than 96% of Iraq’s financial imports. After several months have passed since its approval date, the tripartite budget allocations have not been launched on the ground yet, which has opened the door to speculation and questions about the reasons behind the delay in implementing its provisions. Raghad Dahham

Integrity reveals violations in a contract at the Karbala refinery worth (6) billion dollars Time: 2023/10/16 09:38:18 Read: 1,443 times {Local: Al-Furat News} The Investigation Department of the Integrity Commission revealed violations in a contract concluded by the Ministry of Oil at a cost of $6 billion at the oil refinery in Karbala Governorate. The Integrity Department reported violations in the contract for the project to implement heavy loading arms in the Karbala refinery, which was concluded by the Oil Projects Company in the Ministry of Oil in 2014 with a coalition of Korean companies headed by Hyundai, indicating that the project, which cost six billion dollars, has not been operated yet. . She added that the Authority’s investigation office in Karbala confirmed that the power station accompanying the refinery had not been established, in addition to the cessation of the hydrogen system, the corrosion and collapse of the project equipment, and the presence of a leak in the heat exchanger for oil and gas, noting that no delay fines were imposed on the implementing companies. For not completing the project. She added that the team noted that the Karbala Agriculture Directorate did not take legal measures against two general contracting and trading companies. Due to their failure to complete the investment approval procedures; To implement a project to cultivate strategic crops and cultivate industrial and food crops on an area of (5,000) dunums, despite the fact that a long period has passed since the license was granted. She added that the Directorate of Agriculture and the Husseiniyah Agriculture Division violated the controls and instructions of the Supreme Water Committee and colluded with those who had the right to dispose of a property, and reopened and created fish breeding lakes on the property, based on an old, ineffective license granted to another property.

Revealing the agenda of the meeting of the Council of Arab Ministers of Justice in Baghdad Time: 10/15/2023 22:49:25 Read: 2,223 times {Local: Al-Furat News} Minister of Justice Khaled Shawani revealed the agenda of the meeting of the Council of Arab Ministers of Justice in Baghdad. Shawani said in a televised interview, “The meeting of the Council of Arab Ministers of Justice is taking place for the first time in Baghdad. Since we took over the mission, we have requested that the Council meeting be held in Baghdad, and the Prime Minister has been supportive in this regard.” He added, "There is a supportive and positive Arab position for holding the conference in Baghdad," stressing that "the Arab position in support of Iraq is evidence of Iraq's return to its leadership role in the region." He pointed out that "security stability helped hold this meeting," explaining that "the meeting will discuss many important topics, including the Palestinian issue." He continued, "Today, Baghdad is the focus of everyone's attention, especially with the stability of the security situation," stressing that "the Palestinian issue will occupy a large space in Iraq's speech at tomorrow's meeting." He stated that "the meeting will discuss the situation in the Gaza Strip, where there is a war of extermination against civilians in the Gaza Strip," noting that "we will focus on the legal and judicial aspects of the Palestinian issue." He pointed out that "the Palestinian Minister of Justice is participating in the meeting of justice ministers in Baghdad," stressing that "the displacement process taking place in the Gaza Strip violates all laws and rules of war in the world." He continued, "The agreements against national and racial discrimination will be approved, and the issue of combating drugs, recovering funds, and combating organized crime will be included on the agenda of the meeting," noting, "Working on the existence of an Arab agreement to protect economic rights." He pointed out, "We discussed finding mechanisms to recover the stolen funds and the wanted persons at the meeting of the Arab Ministers of Justice, and we are working to make Iraq an economic meeting point for the countries of the region," noting the demand for "Iraq's word in the meeting to combat corruption and recover the funds and the wanted persons." He pointed out that "there are 23 cases that will be filed before international courts against people wanted for corruption," stressing "the government's approach to recovering smuggled funds from abroad."

Today.. Baghdad hosts the meeting of the Council of Arab Ministers of Justice The first 10/16/2023 Baghdad: Muhannad Abdel Wahab is hosting the capital, Baghdad, today, Monday, for the first time, the meeting of the Council of Arab Ministers of Justice in its 39th session with the participation of 21 countries, and in the presence of the Secretary-General of the Arab League, Ahmed Aboul Gheit. Yesterday, Sunday, the Executive Council of Arab Ministers of Justice held its 72nd session of the 39th multi-session in Baghdad to discuss... Many issues of concern to Arab affairs. Minister of Justice Khaled Shawani said, during the meeting of the preparatory committee for the Arab meeting yesterday, Sunday: “The work of this session is the crystallization of decisions that are in the interest of Arab work, for which I wish progress and prosperity in the justice sector and the exchange of experiences in the legal and judicial fields.” He added, "Our meeting was held in circumstances that were extremely sensitive to what our people are suffering in Gaza and the natural disasters that Libya and Morocco are witnessing," expressing his hope "to come up with important recommendations during the meeting." Shwani added in a speech at a press conference that followed the meeting that “Monday will witness the presence of Arab ministers in addition to the Secretary-General of the Arab League, and this indicates the importance of Baghdad for the Arab brothers and the importance of Iraq restoring its role in the Arab and regional environment and the international community.” He pointed out that "the meeting discusses further consolidating Arab relations, concluding bilateral agreements, facing future challenges, and discussing developments at various levels." During the Executive Office meeting yesterday, Sunday, a draft agenda was prepared for the thirty-ninth session of the Council of Arab Ministers of Justice, which will be held today, Monday, and the items were presented to the meeting ministers to make comments and approve them. The meeting included Jordan, Saudi Arabia, the Emirates, Bahrain, Tunisia, Algeria, Morocco, Libya, as well as Iraq, the host country.

Efforts to increase the amount of the Housing Fund loan to 75 million dinars The first 10/16/2023 Baghdad: Omar Abdul Latif The Services and Reconstruction Committee in the House of Representatives seeks to increase the housing loan amounts to 75 million instead of 60 million dinars, free of interest, to help citizens build safe housing units for themselves and their families. A member of the Services and Reconstruction Committee, Mahdia Al-Lami, said in an interview with “Al-Sabah”: “The committee received a project proposal or amendment to a legal article related to the Housing Fund, which is directly related to providing service to citizens who wish to obtain loans to build housing units.” She added, "This fund enables citizens to apply via the Internet to obtain a loan so that there are no suspicions of corruption, provided that he has a residential plot of land, and that it falls within the specifications and standards approved by the fund, to grant the borrower completely interest-free sums, except administrative ones, for one time." Just". Al-Lami confirmed that “the amount of the loan currently granted by the Fund is 60 million dinars,” noting that “Parliament wants to amend it and raise the price of the loan to 75 million dinars so that the citizen can apply to build a housing unit that will be safe for him and his family without the need to arrange other debts to complete that unit.” ". She explained that "the committee hosted the Director General of the Housing Fund and the Directors General of Baghdad Municipalities in the Ministry and they talked about this issue and an appropriate report was submitted that will be presented to the House of Representatives, in preparation for voting on the article in accordance with the constants approved by the executive authorities." It is noteworthy that the Housing Fund opened the door to applying for loans yesterday, Sunday, directly through the designated website, within the governorate division table and announced by the same institution. Edited by: Wael Al-Maluk

The Prime Minister discusses the file of administrative reforms at border crossings Second and third 10/16/2023 Baghdad: Al-Sabah Prime Minister Muhammad Shiaa Al-Sudani discussed yesterday, Sunday, the file of administrative reforms taking place at the border crossings to improve the status of this important sector. A statement from his office stated, “The Prime Minister chaired a meeting devoted to discussing the file of border crossings and the administrative reforms being implemented there,” indicating that “the meeting addressed the most prominent challenges and obstacles that prevent the advancement of this important sector, in the presence of the head of the Border Ports Authority and a number of officials.” Advisors to the Prime Minister's Office and the Director General of the General Tax Authority. He added, "During the meeting, Al-Sudani reviewed a detailed report on the work of the border crossings, their plans and development paths, and their efforts to combat corruption by revealing a number of manipulation and forgery operations, as well as the administrative measures taken that contribute to the development of the services provided." Meanwhile, the Prime Minister chaired the tenth session of the Supreme Authority for Coordination between the Governorates. Another statement stated, “Al-Sudani chaired the tenth session of the Supreme Authority for Coordination between the Governorates.”

Foreign remittances increased by 61% Economical 10/16/2023 Baghdad: Morning: External remittances increased at the Central Bank of Iraq auction by 61 percent yesterday, Sunday, at the expense of cash sales, to reach $139 million. In the US dollar auction, the Central Bank sold 193,925,190 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at 1,310 dinars per dollar for external transfers, and at 1,310 dinars per dollar in cash. Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 139 million 925 thousand and 190 dollars, an increase of 61 percent over cash sales amounting to 54 million 890 thousand dollars. The number of banks that purchased cash dollars reached five banks, while the number of banks that responded to requests to enhance balances abroad reached 20 banks, while the total number of exchange and brokerage companies participating in the auction was 54 companies.

The Iraqi Bank announces external transfer controls Economical 10/16/2023 Baghdad: Al-Sabah The Trade Bank of Iraq (TBI) announced yesterday, Sunday, controls on external transfers for individual traders at a rate of 100 thousand dollars during one month. A statement from the bank stated, “In continuation of implementing the plan to meet the needs of individual merchants for financial transfers in the dollar currency and at the official rate specified by the Central Bank of Iraq (1,320 dinars per one dollar), the bank began implementing this plan since last July at a rate of ($100,000) one hundred thousand dollars.” During one month for every individual merchant for the purposes of importing consumer goods.” The statement stressed that “the bank is working to develop its services provided to customers in a way that facilitates the flow of their financial operations in accordance with legal frameworks and correct and sound contexts to ensure the safety of transfer operations.” The statement explained, “The transfer controls for individual merchants are as follows: - 1 - Opening a current account in accordance with the controls and instructions in force at the Iraqi Trade Bank. 2 - The external transfer ceiling for each individual merchant does not exceed the amount of ($100,000) one hundred thousand dollars only within a period of (30) days.” 3 - A preliminary commercial list, provided that it has an effective date not exceeding (six months) from the date of creating the request on the platform. 4 - The customer undertakes to provide the bank within a period of (30) days for neighboring and regional countries, and (60) days for other countries, with proof of entry. materials to Iraq, in addition to his pledge that he does not own a company and that he is not a shareholder in a company, and in the event that he does not commit to providing the requirements within the period specified above, he will be deprived of transfer procedures and all legal measures will be taken against him. 5 - Providing the bank with (Minvest) that includes the required information that Proving the entry of materials into Iraq. 6 - Requests for these transfers are executed through the bank’s branches operating in Baghdad and other governorates. 7 - Requests for private transfers are not accepted for those who do not have an actual workplace (shop).