yota691

The Speaker of Parliament heads to Paris Time: 2023/10/11 19:42:45 Read: 1,092 times {Politics: Al-Furat News} Speaker of the House of Representatives, Muhammad al-Halbousi, headed today, Wednesday, to the French capital, Paris, in response to an official invitation. During the visit, Al-Halbousi will meet, according to his office, “French President Emmanuel Macron, Speaker of the National Assembly {Parliament} Yael Braun-Piffe, and Senate President Gerard Larcher.”

The Minister of Foreign Affairs confirms the firm position of the Iraqi people and government towards the Palestinian issue Time: 2023/10/11 18:20:41 Read: 858 times {Local: Al-Furat News} Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, met with his Palestinian counterpart, Riyad Al-Maliki, on the sidelines of his participation in the emergency meeting of the Arab League Council at the ministerial level, which will be held today, at the headquarters of the General Secretariat of the Arab League in Cairo. A statement from his office, a copy of which {Al-Furat News} received, stated: “During the meeting, developments in the Israeli aggression against the occupied Palestinian territories were discussed.” Fouad Hussein affirmed "Iraq's firm position, as people and government, towards the Palestinian issue, and its standing by the Palestinian people in achieving their aspirations and obtaining their full legitimate rights." For his part, the Palestinian Foreign Minister praised Iraq's positions in support of the State of Palestine and its people.

Al-Sudani: Iraq is looking forward to joining BRICS The first 10/12/2023 Baghdad: Muhammad Al-Ansari Prime Minister Muhammad Shiaa Al-Sudani expressed Iraq's aspiration and readiness to join the BRICS group, if it receives an invitation from the founding countries, and while he indicated that the state has made distinguished strides in the direction towards renewable energy, he confirmed that the government will continue with its reform approach to serve the citizen. Yesterday, Wednesday, Al-Sudani met with a group of the Iraqi community residing in the Russian Federation, on the sidelines of his official visit to the Russian capital, Moscow. During the meeting, he listened to a comprehensive presentation about the conditions of the Iraqi community, the progress of its affairs, its requirements, and the most important obstacles and difficulties it faces in establishing it. In his speech to the community’s elite, the Prime Minister affirmed, “The government is moving forward with implementing economic, administrative, and service reforms that will touch the Iraqi street, and will fulfill people’s ambitions and what they expect from the government,” and pointed out the importance of Iraqi competencies, wherever they are, contributing to building Iraq and achieving the desired progress. “The government welcomes everyone who wants to contribute to development and reform.” During his session with the Iraqi community, Al-Sudani said in an exclusive interview with the Russian RT channel: “Iraq understands the role played by the BRICS group and is aware of the conditions and specifications for joining it, and we are looking forward and ready for that if The founding countries agreed.” He pointed out that he discussed with Russian President Vladimir Putin a wide range of economic issues, including “the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries,” and stressed that he was grateful for Russia’s principled position on the Palestinian issue. Al-Sudani revealed that Iraq is in the process of studying a project to open an Iraqi cultural center in the Russian capital, Moscow, based on the deep historical relations that bind the two countries, which will reach its eightieth jubilee next year. Yesterday, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani participated in the sixth session of the Russian Energy Week REW Forum in Moscow, and said in his speech: “Iraq seeks to diversify energy sources, and not depend its economy on oil only, and our government has set its sights on the global energy transformation.” “These include carbon reduction projects and energy efficiency projects.” He stated, “With commitments to reduce carbon emissions until the year 2045, we have begun launching carbon reduction projects financed by carbon bonds for gas projects in the East Baghdad field,” and pointed out that “Iraq has made great strides in the fields of renewable energy, by adding solar generation capacities estimated at three Thousands of megawatts,” noting, “We have set a goal to cover a third of the local need for electricity through investing in renewable sources by 2030.” He added, "Our government is continuing to invest optimally in gas, in light of the global growth in demand for gas, which far exceeds supply," explaining that "successive regimes in Iraq, since the discovery of oil, have not invested in gas and resorted to burning it, which has caused the waste of this wealth and pollution." environment, and the problem has multiplied with the loss of opportunities, the growing need for electrical energy, and Iraq being forced to import gas,” and he stated that “investing in gas through the fifth and sixth licensing rounds will create the opportunity to work and cooperate with global partners, and will lead to greater integration.” Al-Sudani said: “We have put the Development Road Project into practice, and we have proceeded with its projects, and it carries a package of positive economic goals in the medium and long term,” explaining, “We seek to find a possible and promising practical connection between the countries of the region and the world, through the Development Road Project.” ". He continued, "Our government has placed economic reform and diversification of the economy among its priorities, through integrated projects for energy, industry, petrochemicals, fertilizers, and community services. We have developed a plan that includes 11 fields to be the first step towards these projects."

Plasschaert praises the government's reforms in the financial and banking sectors The first 2023/10/11 Baghdad: Al-Sabah Yesterday, Tuesday, the Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, welcomed what she described as the important steps taken by the Iraqi government in reforming the financial and banking sectors. In her briefing before the UN Security Council, Plasschaert explained, “The Iraqi government has taken important steps in reforming the financial and banking sector, and an electronic platform for selling foreign currencies has been launched that enhances transparency.” She added, "The Iraqi government has implemented measures to follow up on the extradition of those involved in stealing Iraq's money, and has also taken steps in the budget that allow for an increase in private sector investments," indicating that the tripartite budget included paragraphs to meet urgent needs such as infrastructure development projects, and also included the highest financial allocations to provide social services such as care. health and education.” She continued, "The government has developed a national strategy to combat drugs and psychotropic substances as part of its efforts to confront this danger," noting that "the climate change file constitutes a real challenge in Iraq, and the government has placed achieving water security at the top of its priorities." Plasschaert welcomed "the ongoing efforts to activate bilateral committees between Iraq and Turkey related to border security," while noting that "Iraq has made clear efforts to secure the situation on the border with Iran and Turkey, and its agreement with Iran falls within the dialogue in accordance with international standards." Regarding Khor Abdullah, Plasschaert revealed that the Iraqi government has made clear beyond doubt its commitment to the principles of international law and its respect for bilateral agreements and United Nations resolutions. She pointed out in her briefing that “provincial council elections represent a crucial necessity for all Iraqis and all actors at the national level.” Or regional, is called upon to play its role in maintaining stability in the period leading up to the elections, including efforts to combat false and misleading information.”

Parliamentary Oil: The decision of the Paris Court is binding and cannot be waived The first 10/12/2023 Baghdad: Rula Wathiq warned the Parliamentary Oil, Energy and Natural Resources Committee against waiving Iraq’s dues imposed on Turkey by the International Chamber of Commerce in Paris to achieve certain interests. Committee member Bassem Ngheimesh al-Gharibawi told Al-Sabah: Iraq’s problem with negotiating with countries is that they view it with superiority, indicating that Iraq can put pressure on Turkey in the economic file and the exports that pass from it to it. He noted that Iraq must find other ways to export oil instead of Turkey, or invest it in internal refineries in the country, and in this way we can achieve self-sufficiency and export the surplus to other countries. Al-Gharibawi stated that the decision of the International Chamber of Commerce in Paris obligated Turkey to pay one billion and 400 million dollars to Iraq after violating the provisions of the pipeline agreement signed with Iraq in 1973 and its amendments, which stipulate that “the Turkish government must comply with the instructions of the Iraqi side regarding the movement of crude oil exported from Iraq.” To all storage and disposal centers and the final station. He pointed out that Turkey was also committed to the prior agreement with the Kurdistan region that the fees for pumping oil through pipelines would be $3.5, while the previous tariff was only $1.25, indicating that no governmental or political party has the right to waive the amount that Turkey was obligated to pay to Iraq to achieve its interests. Certain, as it is considered an entitlement to the Iraqi people. Edited by: Adhraa Juma

“Reconstruction bonds” are an economic policy to reduce inflation and finance the deficit Economical 10/12/2023 Baghdad: Haider Falih Al-Rubaie and Shukran Al-Fatlawi A number of economic and financial experts welcomed the Ministry of Finance’s decision to issue “construction bonds” and put them up for sale, stressing that the step carries a number of benefits, including absorbing the enormous cash mass accumulated by citizens, which, according to economic specialists, amounted to more than 90 trillion dinars, or approximately 91 percent. Of the total monetary issuance in Iraq, indicating that other positives of the decision are reducing inflation and closing the budget deficit. The Ministry of Finance announced the issuance of bonds under the name (reconstruction bonds) and made them available for sale to citizens, indicating that the step, which comes in cooperation with the Central Bank, aims to provide and support investment opportunities for citizens, as the first issuance of bonds will be worth one and a half trillion Iraqi dinars, tradable in the Iraqi stock market. Finance, and will be available in the form of two categories, the first will be priced at 500 thousand dinars with an annual interest of 6% for a period of two years, while the second will be priced at 1,000,000 with an annual interest of 8% for a period of 4 years. Immediately after the announcement of the “bond offering,” the Iraq Stock Exchange expressed its welcome for the step, which it described as “important” in stimulating trading operations by citizens, while those concerned confirmed that the process comes in implementation of the Federal General Budget Law for the year 2023, which included the Ministry of Finance issuing government bonds. To finance the budget deficit. Economist Nabil Al-Marsoumi stated in an interview with “Al-Sabah” that “the purpose of issuing two-term reconstruction bonds comes for the purpose of first withdrawing part of the cash mass from circulation, which exceeded the limits of 90 trillion dinars, which constitutes more than 91 percent of the total cash issuance.” in Iraq". Al-Marsoumi pointed out that “the other side of the Ministry of Finance’s step is for the purpose of reducing the budget deficit, as part of the deficit, according to what is proven in the budget law, is covered through internal debt, including the issuance of bonds.” Despite the positive aspects of “construction bonds” in reducing inflation, absorbing liquidity, and financing the deficit, the Al-Marsoumi expert believes that “the timing of the issuance is not appropriate,” indicating that this comes due to the presence of a wide gap between the official and parallel prices of the dollar, and that this situation affects the price level. Commodities, even if the Ministry of Planning publishes in its reports that the average inflation does not exceed 4 percent, as this is calculated on the basis of a sample of commodities amounting to 333 commodities, and there are many commodities that are not included in the calculation of this indicator, and therefore when the level of inflation is high and the gap Between the official and parallel prices, the incentive to buy bonds is very weak for the citizen, because the real interest does not become positive, but may turn negative or zero, indicating that the real interest is the nominal interest, minus the level of inflation. In support of the previous opinion, the economic expert, Dr. Mahmoud Dagher, said during a brief statement to “Al-Sabah” that “encouraging work with these financial tools requires that the interest rate be much higher than what was announced on the issue of financial bonds, because if we subtract the inflation rate from the nominal interest rate, the result will be a rate of “Low interest does not encourage or motivate people to engage in bond purchases, and therefore banks that have surplus funds in dinars will resort to buying these bonds.” The Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, told Al-Sabah that “after the subscription and completion of the conditions for the issuance of the announced bonds, they will be tradable in the Iraq Stock Exchange at the prices on the maturity date, and according to the categories in which they were issued.” Abdul Salam explained that “the new issuance will achieve its desired results through marketing through the banking system to citizens, institutions and companies, and will add to the Iraqi market a new security that is traded under the bond platform using electronic systems.” In turn, the head of the Iraqi Stock Exchange Investors Association, Dr. Alaa Al-Moussawi, confirmed during his speech to “Al-Sabah” that “the issuance of reconstruction bonds comes in implementation of the Federal General Budget Law, which included the Ministry of Finance issuing government bonds to finance the federal general budget deficit, as this step will achieve A package of positive steps in addition to financing the deficit, the most prominent of which is withdrawing part of the cash mass hoarded by citizens outside the banking system and using it to finance service and investment projects, providing job opportunities for citizens, increasing the domestic product, strengthening the national economy, and contributing to reducing the inflation rate by reducing the cash liquidity hoarded by citizens. “And contributing to preventing the prices of goods and services from rising by reducing the demand for their purchase due to the decrease in cash liquidity among citizens, as well as contributing to improving the exchange rate of the Iraqi dinar.” Al-Mousawi also stated that “issuing new bonds would contribute to encouraging citizens to save and invest their money and obtain good financial returns, and that trading reconstruction bonds in the Iraq Stock Exchange would stimulate investment in them, and would contribute to increasing trading among citizens and encouraging them to invest their money.” In areas that serve the national economy.”

A government advisor expects the dollar exchange rate to stabilize Economical 10/12/2023 Baghdad: Al-Sabah, Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, expected yesterday, Wednesday, the return of stability to the exchange rates of the dollar against the Iraqi dinar in the parallel market within a maximum period of two months. He said in a press statement: The disruption that occurred in the dollar exchange rates is not the result of coincidence, but rather is a legacy dating back almost to the beginning of the Iran-Iraq war in the 1980s, adding that “a short period of time ago the pattern in dealing with banks with regard to the dollar changed.” ». He explained that what is happening in this transformation and this process is that we are trying to return everything to the global system, from which all Iraqi governments were late in this action, and some of them completely ignored the requests directed, and these requests are correct in reality. Al-Najjar also pointed out that what we were supposed to do in six years, we are trying to accomplish in one year, and this greatly affected the exchange rate of the dollar, adding that the second thing that happened was the presence of major corruption within a group of banks and banking companies, which led to Dollar smuggling. The government advisor continued, saying: The question is: Will the dollar price continue to rise? The answer: Yes, this rise may continue for a certain period of time, adding: But we expect that within a month or two the exchange rate will begin to stabilize, because 70 percent of trade in Iraq has moved to the electronic platform.

The Federal Supreme Court issues a ruling confirming its role in protecting public money Today, 12:50 Al-Ghad Press/

Al-Sudani returns to Baghdad after concluding his visit to Russia Yesterday, 23:48 Al-Ghad Press/Baghdad Prime Minister Muhammad Shiaa Al-Sudani returned to the capital, Baghdad, after concluding his visit to Moscow. The media office stated in a statement, “Prime Minister Muhammad Shiaa Al-Sudani returns to the capital, Baghdad, after concluding his official visit to the Russian capital, Moscow.”

US State Department: Iraq is the cornerstone of stability in the Middle East Yesterday, 17:39 Al-Ghad Press/Baghdad US Deputy Assistant Secretary of State Victoria Taylor confirmed on Wednesday that the United States is focusing a lot on Iraq as the cornerstone of stability in the Middle East. Taylor said in a dialogue session followed by Al-Ghad Press that “the long-term partnership with Iraq” is in the interest of both countries and is based on common goals, stressing that the United States considers Iraq a security partner. She pointed out that there is an "important partnership" with Iraq, especially with regard to fighting ISIS, and it is an "ongoing partnership." She spoke about "many programs in the field of education regarding teaching the English language," stressing that the United States can "give a greater opportunity for young people to go to the United States and learn more about American culture and the United States." She also referred to "programs related to long-term academic exercises so that we can focus on advanced education, and these are all part of attempts to develop the partnership between our two peoples." In another matter, the US Deputy Assistant Secretary of State affirmed her country’s interest in “the issue of the displaced and the Yazidis, which is important for the international community to be able to provide assistance to them.”

Washington supports Iraqi PM’s war against corruption Amr Salem October 10, 2023 727 The Deputy Assistant Secretary for Iraq and Iran, Victoria Taylor, during a press interview with INA reporter. Photo: INA Baghdad (IraqiNews.com) – The US Department of State confirmed Washington’s support for the efforts of Prime Minister Mohammad Shia Al-Sudani in combating corruption and improving the financial sector. In an interview with the Iraqi News Agency (INA), the Deputy Assistant Secretary for Iraq and Iran, Victoria Taylor, said that the United States has strategic and long-term relations with Iraq. “We support the war waged by the Iraqi Prime Minister against corruption, which is an important goal and a common priority,” Taylor explained. “Washington supports the Prime Minister’s effort to have a transparent financial sector in Iraq. This was clear in the dialogue conducted by the US Treasury Department with the Central Bank of Iraq (CBI) to strengthen the banking and financial sector and improve the Iraqi economy, which will help Iraq develop its international relations and attract investments,” the US official elaborated. Taylor indicated that the measures taken by the US government to bar Iraqi banks from conducting US dollar transactions as part of a crackdown on transferring US currency to Iran and other sanctioned countries were not sanctions but were decisions that strengthened the Iraqi banking system to maintain transparency. The US official emphasized that the invitation extended to Al-Sudani to visit Washington and meet with the US President, Joe Biden, represents a good opportunity to promote relations between the United States and Iraq and enhance partnerships in different sectors.

Saudi Arabia inaugurates platform for electrical interconnection with Iraq Amr Salem October 10, 2023 1003 The Governor of the Saudi Eastern Province, Prince Saud bin Nayef bin Abdulaziz, and GCC officials during the inauguration ceremony of a platform for the GCC electrical interconnection project with Iraq. Photo: Al-Arabiya News Baghdad (IraqiNews.com) – The Governor of the Saudi Eastern Province, Prince Saud bin Nayef bin Abdulaziz, inaugurated a platform for the GCC electrical interconnection project with Iraq at the headquarters of the GCC Interconnection Authority in the Saudi city of Dammam. Prince Abdulaziz stressed that the electrical interconnection project between the GCC countries aims to preserve energy and enhance integration between countries in the Gulf region. The platform will increase the efficiency of the electrical interconnection between the GCC countries and Iraq. The platform enables Iraq to exchange electrical energy with the countries of the Gulf Cooperation Council collectively or separately, which will give wide flexibility to the exchange and trade of energy between Iraq and the GCC countries. The GCC Interconnection Authority expected that the project would provide Iraq with two million megawatts during the summer months, whereas energy exchange with Iraq in the winter months would reach 500,000 megawatts. The value of the electrical energy Iraq will use through the interconnection project with the GCC countries is expected to range between $200 and $300 million annually.

Iraq expresses interest in joining BRICS Amr Salem October 11, 2023 2004 2 min The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during a meeting with representatives of the Iraqi community in Russia. Photo: PMO Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed on Wednesday Iraq’s readiness to join the BRICS group. During a meeting with representatives of the Iraqi community in Russia, Al-Sudani stated that Iraq is ready to join the group of major emerging economies if it receives an invitation from the founding countries, according to Russia Today (RT). The Iraqi Prime Minister indicated that he discussed with the Russian President, Vladimir Putin, several economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries. The Iraqi leader emphasized that the government is carrying out economic and administrative reforms that will have a positive impact on the lives of Iraqis. Al-Sudani valued Russia’s stance on the Palestinian issue, noting that he discussed this issue with President Putin out of his concern for the lives of civilians. The Iraqi leader revealed that his government is studying opening an Iraqi cultural center in the Russian capital, Moscow, to deepen the historical relations between the two countries.

Tracking Updates on Day 5 of Israel-Hamas War | Palki Sharma

Al-Sudani: We have made economic reform a top priority and we are seeking to diversify energy sources energy Economy News - Baghdad Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani announced the launch of carbon reduction projects in the East Baghdad field, and while noting that Iraq is seeking to diversify energy sources, he stressed that the development road project carries a package of positive economic goals. Al-Sudani said in his speech at the Russian Energy Week Forum in its sixth session, “We are participating today in the Russian Energy Week Forum, in its sixth session, on behalf of Iraq, out of our belief that cooperation in the field of energy, and joining hands with each other in facing the challenges of electricity and the oil, petrochemical and gas industries, These are steps that will provide prosperity and progress, and will work to support us all in a world in which technology is accelerating and the demand for energy is rising every day,” noting that “Iraq, whose name has been firmly established on the map of oil production and export, is seeking to diversify energy sources and not depend its economy on oil.” Just". He added, "Our government has set its sights on the global energy transition, represented by carbon reduction projects and energy efficiency projects," noting that "with commitments to reduce carbon emissions until the year 2045, as well as to help preserve the position of oil and gas as energy sources, which are considered... The mainstay of our economies, and sustaining them in a responsible and environmentally friendly manner is in our interest as countries. For this goal, we have begun launching carbon reduction projects financed by carbon bonds for gas projects in the East Baghdad field.” He stressed that "the oil-producing countries can play an important role in this field, by working to improve energy efficiency, because climate restrictions are to combat the climate effects of fossil fuels, not the fuel itself, in order for oil to remain competitive in terms of its carbon footprint, when it becomes A feature of oil pricing,” pointing out that “Iraq has made strides in the fields of renewable energy, by adding solar generating capacities estimated at three thousand megawatts.” He stated, "The government has set a clear goal of covering one-third of the local need for electricity by investing in renewable sources by 2030," pointing out "continuing to upgrade fossil fuel extraction techniques, and taking into account environmental aspects in this field." He stated, “Most important of all is what we have planned for the optimal investment of gas, as our government is continuing with those efforts in order for Iraq to take the position that suits its capabilities in this economic market, in light of the global growth in demand for gas, which exceeds the supply.” Much," pointing out that "our government's vision adopts an approach in the energy sector, the basis of which is seeking to compensate for what our country lost, as successive regimes in Iraq, since the discovery of oil, did not invest in gas and resorted to burning it, which wasted this wealth and caused environmental pollution." He stated that "the severity of the problem doubled with the loss of opportunities, the growing need for electric power, and Iraq being forced to import gas, and the Iraqi people suffered the harm they suffered as a result of delaying and waiting," noting that "Iraq's presentation of the importance of gas investment, through the fifth and sixth licensing rounds, It will create the opportunity to work and cooperate with global partners, which does not pose a threat to any producer or marketer, but rather aims for greater integration.” He pointed to "Iraq's ability and entitlement, due to the resources and capabilities it possesses, to establish a solid foundation for partnership," explaining that "the opportunity has become ripe to achieve success together in creating factors that encourage peace. In the end, the matter depends on the type of approach that we will take, and we have chosen an approach that confronts the challenges and brings together... far apart, in addition to the necessity of diversifying energy sources and transportation methods, in order to reduce risks, as part of a broader framework for economic cooperation, consolidating security, and reducing reliance on security approaches based on conflict, competition, and armament.” He stated that “solid infrastructure projects, with a wide impact on trade and regional transport, will attract international donors and development institutions, and this is what we are working on with all our capabilities,” adding that “our region, which is rich in natural resources, and which has been coupled at the same time with security turmoil and political competition, “It needs economic integration and a regional system that establishes cooperation and prosperity.” He continued, “It is an unprecedented development road project in Iraq and the region, and it is being implemented, and we have proceeded with the projects attached to it, and it carries a package of positive economic goals in the medium and long term,” stressing “the necessity of creating a possible and promising practical interconnection between the countries of the region and the world, from Through the development path project, and through a philosophy that believes in the communication of investors and capital, from the largest possible number of countries and peoples, so that our region becomes a platform where interests, development desires, and job opportunities meet, after it was a scene of political and security tensions, and thus Iraq has taken a giant step. “On the path to enhancing cooperation with and among others.” He stated, “In order to achieve balance in the energy market, we are in dire need of joint coordination and preventing negative competition, as some people have doubts about the coordination mechanism adopted in OPEC, but we draw attention to the necessity of balancing supply and demand, and preventing economic collapses and their political consequences.” Social, and impacts on the stability of the regions, as well as peace, security, and the state of stability internationally,” pointing out that “this mechanism contributes to the ability to maintain the stability of supplies and prices, as these coordination mechanisms do not only target oil prices, but rather go to support market stability globally.” “By ensuring the interests of the producer, consumer and investor alike.” He pointed out, "Our government has placed among its priorities economic reform, which is centered around diversifying the economy instead of relying on oil. This is done through integrated projects for energy, industry, petrochemicals, fertilizers, and community services. We have developed a plan that includes eleven fields to be the first step towards these projects." He called on “specialized international companies to invest in these promising opportunities in light of a government commitment to creating and improving the work environment for the private sector, both local and foreign.” He stressed "the need to coordinate efforts, allocate budgets, and make large joint investments in modern technologies and the infrastructure necessary to develop extraction and refining techniques." Views 37 Added 10/11/2023 - 5:13 PM

Parliamentary Finance sets the date for increasing the salaries of retirees Sweeteners Economy News - Baghdad Member of the Parliamentary Finance Committee, Muhammad Nouri, expected today, Wednesday, that the beginning of next year will witness an increase in the salaries of retirees. Nouri told the official newspaper, followed by Al-Iqtisad News, that “the announced increase in the salaries of retirees for the lower grades has stopped due to the lack of cash flow to cover it,” noting that “work is underway to include it in the budget so that salaries are consistent with the high cost of living.” He pointed out, "The Finance Committee is waiting for there to be actual cash liquidity, especially after the economic crisis that we are witnessing as a result of the increase in the exchange rate of the dollar against the Iraqi dinar in the parallel market," expecting that "the beginning of next year will witness an increase in the salaries of retirees." Nouri explained that the increase will be given to those with the lowest grades to be compatible with the cost of living, according to reports from the Ministry of Planning, pointing out that “the increase, with the adjustment of the salary scale up to the sixth grade, may cost the state more than 4.5 trillion dinars.” On May 15, the head of the National Retirement Authority, Maher Al-Bayati, announced the completion of a study to increase retirees’ salaries, amid expectations that it would be 100,000 dinars for the lower grades, but this did not actually materialize. On April 3, the Ministry of Finance denied reports that Minister Taif Sami had withheld her approval regarding proposals to increase retirees’ salaries. Views 65 Added 10/11/2023 - 9:49 AM

Center for Banking Studies: Anti-money laundering training contributes to increasing Iraq's ability to confront the phenomenon of money laundering Drains The Center for Banking Studies at the Central Bank of Iraq held a ceremony for participants in internationally accredited training courses. The ceremony, which was attended by a number of Central Bank officials, witnessed the distribution of approved certificates in the field of anti-money laundering and compliance to participants in the training courses and those who passed the exam to obtain (CGSS), (CAMS), (KYCS), and (CCM) certificates. The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi, indicated that obtaining this type of certificate for participants contributes to raising the ability of the banking sector in Iraq to confront the phenomenon of money laundering and terrorist financing and achieve international compliance requirements. Congratulations to the participants in these courses for the banking sector. The Iraqi. It is noteworthy that the Center for Banking Studies of the Central Bank of Iraq provides dozens of training courses throughout the year in various banking fields, in addition to its cooperation with regional and international training centers. 99 views Added 10/11/2023 - 1:36 AM

Plasschaert: Baghdad has taken important steps in reforming the financial and banking sector money and business Economy News - Baghdad The United Nations representative in Iraq, Jeanine Plasschaert, confirmed on Tuesday that the Iraqi government has taken important steps in reforming the financial and banking sectors. During her briefing before the Security Council, Plasschaert said, "The Iraqi government has taken important steps in reforming the financial and banking sector, and an electronic platform for selling foreign currencies has been launched that enhances transparency." She added, "The Iraqi government has implemented procedures to follow up on the extradition of those involved in stealing Iraq's money. The government has also taken steps in the budget that allow for increased private sector investments. The tripartite budget included paragraphs to meet urgent needs such as infrastructure development projects. It also included the highest financial allocations to provide social services such as health care." And education.” Plasschaert continued, "The government has developed a national strategy to combat drugs and psychotropic substances as part of its efforts to confront this danger," noting that "the climate change issue constitutes a real challenge in Iraq, and the government has placed achieving water security as its top priority." Views 104 Added 10/10/2023 - 6:12 PM

The US Treasury calls for financial reforms in international institutions 2023-10-11 01:24 Shafaq News / On Wednesday, US Treasury Secretary Janet Yellen called for the adoption of a series of measures that would allow improving the financial capabilities of international financial institutions while pushing them more explicitly towards financing the fight against climate warming. This came during a speech delivered by Yellen at the Mohammed VI Polytechnic University in Ibn Jarir, Morocco, on the sidelines of the annual meetings of the World Bank and the International Monetary Fund held in Marrakesh. The American Secretary said: “At the annual meetings in 2022, I called for development in the multilateral development banks. A year after that, we have made great progress and reforms are now at the top of the G20 agenda.” Among these measures, Yellen mentioned the development of the World Bank's missions, whose mission will be "to end poverty in a livable world," citing words by World Bank President Ajay Banga during a conference held in Washington at the end of September. Janet Yellen stressed the need to "combat climate warming and other global challenges, as a basis for development," also calling for strengthening the operational capacity of the World Bank, which Banga considered "suffering from a defect" despite its "wonderful teams," and for strengthening financial capabilities. Various measures at the World Bank and regional banks would allow everyone to obtain "at least an additional $200 billion" in the next ten years.

After the significant rise...the dollar declines against the Iraqi dinar in Baghdad and Erbil 2023-10-11 03:34 Shafaq News/ Dollar prices decreased today, Wednesday, 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 162,100 dinars against 100 dollars, while prices yesterday, Tuesday, were 163,000 dinars against 100 dollars. Our correspondent pointed out that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 163,000 Iraqi dinars, while the purchasing price reached 161,000 dinars for every 100 dollars. As for Erbil, the dollar also recorded a decline, as the selling price was recorded in banking shops at 160,900 dinars against the dollar, and the purchase price was 160,800 dinars against 100 dollars.

Iraq: A new decline in the dinar amid warnings of tampering with travelers’ money Markets Baghdad Ahmed Eid October 11, 2023 The price of the dollar exceeded 1,640 dinars in the parallel market (AFP) Exchange rates witnessed a new decline for the Iraqi currency , in the parallel market, where the price of one dollar exceeded the barrier of 1,640 dinars. Economists warned of the dinar gradually losing its monetary value due to the continued dollar smuggling operations and the actions of the Central Bank of Iraq , which contributed to the continued rise of the dollar in the parallel market and speculators’ exploitation of the market situation. Internal and external reasons Financial affairs researcher Ali Al-Hayani said, “The increasing rise in the exchange rate of the dollar against the dinar indicates that the Central Bank of Iraq does not control the work of banks in the country, in addition to several internal and external factors that led to this rapid rise.” Al-Hayani added, in statements to Al-Araby Al-Jadeed, that “the reasons for the rise in the internal price of the dollar are the recent statements of Central Bank officials, including stopping the delivery of external remittances in dollars, in addition to the increasing demand for the dollar in the parallel market.” He pointed out that "external factors are the general situation in the region, the most important of which is what is happening now in Palestine (the Al-Aqsa flood), which prompted speculators to exploit the state of monetary confusion in the regional environment and link it to the Iraqi market." Al-Hayani stressed "the importance of taking all legal measures against speculators and violators, and working to protect the national currency from losing its monetary value." The dollar does not reach travelers Specialists have warned of manipulation and corruption in the funds allocated by the Central Bank of Iraq to travelers, which is witnessed by banks and exchange offices authorized at the currency selling window through direct selling of dollars to fictitious travelers or direct bribery to the employees of those institutions. The economic researcher, Ahmed Sabah, said, “The dollar allocated to travelers does not reach them, due to the corruption, manipulation, and bribery operations witnessed by the official outlets that sell the dollar to travelers, which has had serious repercussions on the reality of the Iraqi market.” Speaking to Al-Arabi Al-Jadeed, Sabah warned against “the window for selling currency to travelers stopping and their money not arriving smoothly and easily, because this will contribute to increasing demand for the dollar, which will lead to a greater rise in the dollar’s exchange rate, which will be directly reflected in the general level of prices.” ". He stressed, "The current crisis of the rise in the dollar exchange rate is not only a monetary and technical crisis, but rather a political and economic crisis, with agendas and influential parties behind it whose goal is to continue the state of chaos, to achieve the largest return of profits at the expense of Iraqi citizens." Sabah explained, “The dollar allocated to travelers goes towards financing commercial activities with Iran by transferring money directly across the border without resorting to official international transfer procedures, which are prohibited due to US sanctions.” In this context, a member of the Iraqi Parliament, Nayef Al-Shammari, warned of “the loss of the value of the Iraqi dinar and the creation of a state of confusion and chaos in the Iraqi local market,” calling on “the government and the central bank to take necessary measures to limit the rise in the dollar exchange rate.” Al-Shammari confirmed in media statements today, “The Iraqi dinar has begun to gradually lose its value, which poses a threat to the Iraqi economy, indicating that the most affected person by the continuous change in the exchange rate changes is the Iraqi citizen.” Al-Shammari said, in a press interview, that the loss of the dinar’s monetary value within a short period requires taking bolder measures by the Central Bank and the Iraqi financial authority, stressing the importance of controlling the parallel exchange rate. New procedures For its part, the Central Bank of Iraq confirmed, "the continued sale of the dollar to travelers without stopping, despite the presence of fraudulent operations that affected many citizens, including important figures in the Iraqi state," stressing that its administration seeks "to work to overcome problems and follow up on complaints submitted by travelers." Speaking to Al-Arabi Al-Jadeed, the Director General of the Investment and Foreign Remittances Department at the Central Bank, Mazen Sabah, said, “The bank is working to overcome all problems and provide the necessary facilities for travelers to obtain the dollar normally.” Sabah continued, “The Central Bank will open new outlets to deliver dollars to travelers inside Baghdad International, Basra, and Najaf airports, through a number of officially registered exchange companies, which own several branches in various governorates, so that the traveler can deposit the amount of money in Iraqi dinars, and receive it inside Baghdad Airport.” At the official price (132 thousand dinars per 100 dollars).” He stressed that "the opening of these companies inside Baghdad International Airport in particular shortens many of the routine, administrative and auditing procedures followed by government banks, and reduces the momentum taking place there, while ensuring that the traveler receives the dollar."

Plasschaert before the Security Council: The Baghdad and Erbil agreement on employee salary loans is positive but insufficient 2023-10-10 10:13 Shafaq News/ The representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, said on Tuesday that the Baghdad and Erbil agreement on employee salary loans is positive but insufficient. In a briefing and closed consultations on Iraq that she presented to the Security Council, and followed by Shafaq News Agency, Plasschaert said, “The Sudanese government has presented important steps and promising initiatives within a year of its formation, and that it has taken important steps in reforming the financial and banking sector.” She pointed out that "the agreement between Baghdad and Erbil on loans to pay the salaries of the region's employees is insufficient," stressing "protecting employees' salaries from the effects of political differences."

Sudanese Advisor: The Iraqi government has implemented 59% of the political agreement paper 2023-10-11 03:38 Shafaq News/ Advisor to the Prime Minister and Head of the Committee for Simplifying Government Procedures, Aqeel Al-Khazali, revealed on Wednesday that the federal government headed by Prime Minister Muhammad Shiaa Al-Sudani has implemented approximately 60 percent of the political agreement of the state administration coalition. This came during his hosting of the seventh session of the "Miri" Forum, entitled "The Sudanese Government... Pledges, Progress, and Prospects." Al-Khazali said, “The political agreement paper, as the comprehensive umbrella that included the blocs of the “State Administration” coalition with all the components of the Iraqi people, we implemented 59 percent of it, and the government has not been a full year old. He explained that in the political agreement paper we have 40 main axes, and from this number we conducted steps and sub-stages amounting to 81 sub-axes, and from this number, 48 achievements were achieved in the language of numbers, indicating that the report exists and will be broadcast on the occasion of the formation of the government on the 27th of the month. Regarding the important laws that the Iraqi government seeks to approve and send to Parliament for legislation, Al-Khazali said, “We have 20 draft laws stipulated in the government curriculum, and the political agreement paper that is an integral part of that curriculum.” He pointed out that 8 draft laws were sent to the House of Representatives, but the oil and gas laws and the Federal Supreme Court received comments from the President of the Republic and the Kurdistan Regional Government, forcing the federal government to withdraw them for reconsideration.

Al-Sudani praises Iran's electrical position on Iraq and confirms: We will be an important country in the global gas market 2023-10-11 10:10 Shafaq News/ On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani praised Iran’s position regarding supplying electricity to Iraq, and said that Iraq will be an important country in the global gas market in the coming years. Al-Sudani spoke during his hosting of the Russian Energy Week Forum in the presence of President Vladimir Putin. Al-Sudani said, “I would like to praise Iran’s position in maintaining gas and electricity supplies to Iraq over the past period despite the failure to transfer financial dues that exceeded 11 billion euros at the beginning of the work of the current federal government. Therefore, we were facing a real problem in maintaining the provision of electricity service to citizens in particular.” In the summer, we began activating investment projects to invest in associated gas.” He pointed out that "Iraq possesses large gas reserves that place it in the ranks of the global countries producing natural gas, so the vision of this government was to continue activating the agreements concluded with some companies, including Total, and activating the fifth round with the Emirati and Chinese companies, and it is hoped that this will provide We will have enough gas within a time frame of 3-5 years and not resort to importing.” Al-Sudani continued, “We have begun the sixth round of licensing for the first time in Iraq to explore gas fields and natural gas exploratory patches, and to complete the procedures regarding these promising fields, which number more than 10 important patches and fields. It is hoped that this will add to our gas production, which will enable us to... Covering the needs of power stations, in addition to the fact that Iraq will be an important country in the gas market.”

Al-Sudani: The development road project carries a package of positive economic goals 2023-10-11 08:17 Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani participated today, Wednesday, in the work of the Russian Energy Week/REW Forum, in its sixth session held in the Russian capital, Moscow, which he is currently visiting at the official invitation of Russian President Vladimir Putin. A statement issued by the Iraqi government stated that the Sudanese participation in the work of the conference comes in order to expand the horizons of cooperation and partnership in the field of energy, and to develop areas of Iraqi gas investment, in accordance with what was adopted by the government program regarding this sector, in addition to attracting companies wishing to invest in Iraq and introduce technology. advanced, as well as promoting development paths for alternative and renewable energies. Al-Sudani said in his speech during the forum that cooperation in the field of energy, in facing the challenges of electricity and the oil, petrochemical and gas industries, are steps that will provide progress and support us in facing the rising demand for energy. He added that Iraq seeks to diversify energy sources and not depend its economy on oil only, indicating that his government has set its sights on the global energy transformation, represented by carbon reduction projects and energy efficiency projects. Al-Sudani pointed out that, with commitments to reduce carbon emissions until the year 2045, we have begun launching carbon reduction projects financed by carbon bonds for gas projects in the East Baghdad field. He added that countries can improve energy efficiency; Climate restrictions are to combat the climate impacts of fossil fuels, not the fuel itself, in order for oil to remain competitive in terms of its carbon footprint. The Prime Minister stated that Iraq has made great strides in the fields of renewable energy, by adding solar generating capacities estimated at three thousand megawatts, stressing that we have set a goal to cover a third of the local need for electricity by investing in renewable sources by 2030. He also said: We are continuing to upgrade fossil fuel extraction techniques, and taking into account environmental aspects in this field, noting that the Iraqi government is continuing to optimize the investment of gas, in light of the global growth in demand for gas, which far exceeds the supply. Al-Sudani pointed out that successive regimes in Iraq, since the discovery of oil, did not invest in gas and resorted to burning it, which caused the waste of this wealth and pollution of the environment, stressing the multiplication of the problem with the loss of opportunities, the growing need for electrical energy, and Iraq being forced to import gas. He noted that gas investment through the fifth and sixth licensing rounds will create the opportunity to work and cooperate with global partners, and will lead to greater integration, adding: We affirm Iraq’s ability and entitlement, due to the resources and capabilities it possesses that establish a solid foundation for partnership. Al-Sudani went on to say: We chose an approach that confronts challenges and brings together those who are far apart, in addition to diversifying energy sources and transportation methods, in order to reduce risks, achieve economic cooperation, and establish security. He continued, saying: We put the Development Road Project into practice, and we proceeded with its projects, and it carries a package of positive economic goals in the medium and long term, explaining that “we seek to find a possible and promising practical connection between the countries of the region and the world, through the Development Road Project.” The Iraqi Prime Minister touched on oil and energy prices, saying: We are in dire need of joint coordination, and preventing negative competition, in order to achieve balance in the energy market. He added that some are questioning the coordination mechanism adopted in OPEC+, but we stress the necessity of balancing supply and demand, and preventing economic collapses and their political and social repercussions. Al-Sudani said: These coordination mechanisms do not only target oil prices, but also support market stability globally, by ensuring the interests of the producer, consumer, and investor alike. The Prime Minister confirmed that our government has placed economic reform and diversification of the economy among its priorities, through integrated projects for energy, industry, petrochemicals, fertilizers, and community services, noting that we have developed a plan that includes 11 fields to be the first step towards these projects. Al-Sudani called on specialized international companies to invest in these promising opportunities in light of a government commitment to creating and improving the work environment for the local and foreign private sector, stressing: We need to coordinate our efforts, monitor budgets, and pump large joint investments in modern technologies and the infrastructure necessary to develop extraction and refining technologies.