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Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate 419 views 20/03/2019 Continue The member of the Finance Committee of Parliament Abdul Hadi al-Saadawi, on Wednesday, the intention of his committee to develop mechanisms to change the financial funds to raise the dinar exchange rate and maintain the stability of inflation. "The committee will go through the current legislative term to change the fiscal and monetary policy in the country in general," Saadawi said in a statement exclusive to the official newspaper "Sabah" that "the committee is meeting with officials of the Central Bank to discuss this change during the next phase." He added that 'the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state', indicating that 'the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation in the country '. "The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment." http://aletejahtv.com/archives/284400

Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate 20-03-2019 08:06 AM Number of readings: 60 Agency of the orbit - Baghdad The member of the Finance Committee of Parliament Abdul Hadi al-Saadawi, on Wednesday, the intention of his committee to develop mechanisms to change the financial funds to raise the dinar exchange rate and maintain the stability of inflation. "The committee will move during the current legislative term to change the fiscal and monetary policy in the country in general," Saadawi said in a statement exclusive to the newspaper / Al-Sabah and the official / Al-Madar said that "the committee is meeting with officials of the Central Bank to discuss this change during Next stage '. He added that 'the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state', indicating that 'the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation in the country '. "The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment." http://www.almadarnews.org/index.php?page=article&id=53258

The Central Bank reveals an agreement to approve the budget and defend the currency auction Release date: 2019/1/23 7:40 • 618 times read {Baghdad: Al-Furat News} The Central Bank of Iraq, an agreement for the approval of the draft financial budget for the year 2019. "The budget will be approved because most of the points of contention have been agreed," Central Bank adviser Walid Abdul Nabi told AFP. "The bank prohibits the exploitation of any customer account and the bank is responsible for compensating for any damage," he added. "As a central bank through the sanctions committee, we rely on four rules to limit these crimes," he said. Abdul Nabi pointed out that "the Central Bank through the sanctions committee includes specialists in the departments of the bank," pointing out that "the Committee imposed fines amounted to 566 billion Iraqi dinars in respect of the Bank of Baghdad and fines imposed on him for various purposes, including the lack of full documentation and the bank exploited to customers bear All the results and fines imposed on customers. " He explained that "imports are covered either by a transfer or a document that is an international transaction and the right of all exploiters to account for the bank," revealing "we have more than 760 call on banks to guarantee the rights of customers." He stressed that "the Central Bank is not affiliated with the Ministry of Finance and is not bound by the decisions of the Inspector General of the Ministry." Abdel-Nabi defended the "daily auction of the central bank, which is selling between 100 to 150 million dollars," noting that "the central bank helped the private sector through this auction." "The Iraqi economy was meeting the requirements of the ministries of trade, health, industry and agriculture, but no amount was allocated to the private sector." The Central Bank adviser expressed his "astonishment at how the documents of the Central Bank reached the satellite channels and the media," stressing that " "The bank is an institution founded by fighting Iraqis and defaming them is not true," he said, denying that there were pressures on the bank. "The Central Bank noted that the percentage of financial coverage of banks is 11% and increased by 100% and was treated 22% in the settlement of salaries and can be an individual loan easy," noting that "the subject of ironing card for any company aimed at profit and can The first stage is high but decreases in the rest of the stages." http://alforatnews.com/modules/news/article.php?storytopic=37&storyid=185860

Association of Iraqi Private Banks organizes the course «Accounting for financial institutions» Side of the session Banks Economy News Baghdad The Association of Iraqi Private Banks established the "Accounting for Financial Institutions" course with the participation of 20 trainees. "The course will last for four days and the training will be on a daily basis," said Ahmed Al Hashemi, director of administration and training at the Association of Private Banks. He added that "it will attract accountants and employees of financial departments in banks," pointing out that "will address four axes; the first deals with the theoretical framework of accounting and the second relates to the registration of financial operations and the third and fourth are interested in the accounting cycle and financial lists." Views 31 Date Added 01/21/2019 http://economy-news.net/content.php?id=15150

Keywords: The banking sector in Iraq is growing and growing in order to expand the base of different economic trends Banks Economy News _ Baghdad The governor of the Central Bank Ali Alalak, on Monday, that the banking sector in Iraq is growing and growing, so as to expand the base of different economic trends. "The banking sector in Iraq is growing, expanding and expanding in order to expand the base of different economic trends," said the governor of the Central Bank Ali Al-Alaq in his speech during the first Iraqi conference of exchange companies and attended by "the economy news". He pointed out that "exchange companies represent an important part of the banking process through The great work done by the banking companies operating in the country. " "The exchange companies in Iraq is one of the largest companies now in the level of exchange companies operating in the countries of the world." Views 42 Date Added 01/21/2019 http://economy-news.net/content.php?id=15158

Monday, 21 January 2019 11:30 p Oil parliamentary: Oil and gas law will see the light soon The parliamentary oil and gas committee stressed its keenness to pass important laws of interest to the country, especially the oil and gas law,which has been the subject of controversy among the political circles and that passing this law will solve many problems between the center and the region. A member of the oil committee MP Faleh al-Khazali that his committee is ready to pass laws important to them even if there is controversy as the law of oil and gas because it is keen on the interest of the country first. He added: "We at this session are keen to be distinct from the previous sessions and the political agreement does not have to govern the passage of some laws, especially the law of oil and gas, which was returned to the government with many laws and pending the return to parliament. https://www.thebaghdadpost.com/ar/Story/146612/النفط-النيابية-قانون-النفط-والغاز-سيرى-النور-قريبا

The supervisory and auditing bodies meet in the Central Bank of Iraq 1/20/2019 The supervisory and auditing bodies in the Iraqi Central Bank, on Sunday, held a meeting, chaired by the Governor of the Bank, Ali Al-Alaq. The central bank said in a statement, received (Baghdad today) a copy of it, that “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, PricewaterhouseCoopers).” The statement added, “The meeting dealt with prospects for professional work and legal requirements with respect to auditing professions and provide professional consulting provided by those companies.” The participants stressed the importance of the role played by these companies in different aspects, and the need to establish legal frameworks for auditing and advisory functions. The statement said, “It will be a meeting later held at the headquarters of the Association of Accountants and Auditors to adapt the things that were trading between the various entities replaced.” https://baghdadtoday.news/ar/news/72328/%D8%A7%D9%84%D8%AC%D9%87%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D8%AF%D9%82%D9%8A%D9%82

Oil parliamentary: Oil and gas law will see the light soon Saturday 19 January 2019 41 Baghdad / Shaima Rashid The Committee on Oil and Gas parliamentary, keen to pass the important laws of interest to the country, especially the oil and gas law, which was and is still the subject of controversy among the political circles and that passing this law will solve many problems between the center and the region. Member of the Committee on Oil MP Faleh al-Khazali, Is ready to pass laws that are important to them even if there is controversy as the law of oil and gas because it is keen on the interest of the country first. He said Khazali in a statement to the "morning": "We are in this session are keen to be distinct from the previous sessions and the political agreement can not pass some Laws, especially law For the oil and gas that was returned to the government with many laws and pending the return to parliament. " He added that "the law of oil and gas, which is the subject of controversy and disagreement between political forces, but in its legislation solve many of the problems between the center and the region on oil and gas and others," noting that "the law was a modified version of the previous government, but all the laws were returned to the current government - more than 110 laws - in the hope that the government to restore them in line with the government program, "noting that" return is subject to the government on the grounds that the law has a financial burden, but if he reached the parliament can pass. "He added that" An important law is the National Oil Companies Act In which important items on the grounds that it is a national wealth, including the fund generations and the Fund citizens. http://alsabaah.iq/3693/النفط-النيابية-قانون-النفط-والغاز-سيرى-النور-قريبا

The Central Bank of Iraq and the objectives of monetary policy Samir Nusairi Articles * Samir Nusairi Monetary policy has been and continues to be a vital issue in the country's economic life. It is a reflection of the general performance of the state and its seriousness in avoiding difficulties and emerging dilemmas and making them consistent with the goals set. Before 2003, monetary policy was an extension of the government's self-deception. Hence the need for radical reform of the Central Bank and the new law of the bank was issued in 2004 and its amendments in 2017, which affirmed independence and established its primary role in protecting the country's resources. That the task now is to comply with international banking and accounting standards and face money laundering and attempts to finance terrorism, which stand at the forefront of the challenges facing the Central Bank of Iraq. It is also essential to ensure the safety of monetary operations through the sale of currency is essential in the performance of the Central Bank and the installation of principles and rules of dealing in the project in a healthy atmosphere of control and supervision. The preservation of the independence of the bank and enable it to perform its task without government intervention and make it an effective institution and guarantor of the interests of society as a whole. The sale of the currency needs a deep understanding in light of the large accusations against the bank without evidence to prove the existence of suspicions of corruption or money laundering or smuggling of currency. The proposition that the sale of the currency is a waste of public money is a description of the economic illiteracy of the relationship and that there are many countries exercise this process, one of the main functions of the central banks in the world. The Central Bank of Iraq exercises multi-dimensional functions. It is concerned with financial stability, managing the system of national payments, management of foreign reserves, licensing and monitoring of banks and financial institutions, and setting up preventive controls, in addition to other tasks related to issuing cash and publishing data, indicators and economic forecasts. A central task of the central bank is to manage monetary policy, which aims to control inflation, stimulate the economy, make full use of the balance of payments and achieve monetary stability. The achievement of the objectives of monetary policy depends mainly on the independence of the central bank. The independence here is the ability of the central bank to control and control the size of the monetary mass (as a fundamental element of monetary policy). Although the rules of central banks in most countries of the world, but this independence In real and practical terms subject to other influences and challenges, to varying degrees affecting that independence. Therefore, it is noted that the Central Bank was able during the years 2015-2018 to achieve the objectives of monetary policy at a good level, despite the challenges faced by the most prominent deficit in non-oil revenue and deficit in public budgets and deficit in the balance of payments and dealing with cash and the rise of cash in circulation to the limit of 48 trillion dinars And 77% of them outside the banking system and the lack of fiscal policy of the government and its expenditures are specific to the expansion of money supply and poor coordination between the financial and monetary policies and the weakness of the banking sector and the weak role of some monetary policy tools and their effects on the increase and decrease Monetary bloc and an average interest rate of the legal reserve and other important challenges is the decline in domestic investment and increased foreign savings due to the security, political and economic conditions. We can say that the Central Bank of Iraq exceeded most of the challenges by drawing up economic, scientific, technical, structural and structural policies and procedures that contributed to achieving its objectives in stabilizing the exchange rate, reducing inflation, rebuilding adequate foreign reserves and increasing the percentage of financial coverage and thus working in a team spirit to lead the national economy and achieve monetary and financial stability. Economic stability. * Economic and banking consultant Views 39 Date Added 01/20/2019 http://economy-news.net/content.php?id=15137

Central announces the approval of funding projects in Baghdad and the provinces 11:34 - 17/01/2019 BAGHDAD - The Central Bank of Iraq announced Thursday the approval of funding projects in Baghdad and the provinces. "The Higher Committee of the Tamkeen Initiative, which is funded by a number of banks and exchange companies operating in Iraq and supervised by the Central Bank of Iraq, has approved the support of a number of projects in different areas of Iraq, in addition to assistance," the bank said in a statement received by Mawazine News. In kind for a number of citizens. " "This step comes from the role played by this bank in supporting community, service and humanitarian projects," he added. The statement pointed out that "the Committee, during its first meeting of 2019 approved the financing of projects, most notably," the reconstruction and development of the Church of the Virgin Mary Chaldean in Basra, and the rehabilitation of the gate of northern Baghdad, and will be the park on July 14 in the holy city of Kadhimiya share of rehabilitation and development, And the development of five major bridges in Baghdad, " Bin, that" the Higher Committee of the initiative, "Tamkeen" confirmed that there are other projects under study are distributed to different areas of Iraq for implementation after being approved by this committee in cooperation with relevant bodies. " https://www.mawazin.net/Details.aspx?jimare=29857

National Bank: The number of companies benefiting from the project support initiative reached 300 companies Banks Economy News - Baghdad The Iraqi National Bank announced on Thursday that the number of companies benefiting from the initiative to support small and medium enterprises launched by the Central Bank of Iraq reached 300 companies. He pointed out that the spread of these electronic payment cards is still weak in the Iraqi market, pointing out that the Board of Directors recently decided to launch A plan to cover the next three years includes several strategic directions to improve the financial performance of the bank and its infrastructure. "The bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative," said the director of the Iraqi National Bank Ayman Abu al-Hill in a televised dialogue sponsored by the Association of Iraqi Private Banks. The rest of the dialogue was as follows: What is the nature of the work of the Iraqi National Bank? - The Iraqi National Bank was established in 1995 and currently has a capital of 250 billion Iraqi dinars, which is the minimum required by the Central Bank of Iraq. Since its establishment, the bank has been developing in all aspects. , Dealing with various economic sectors. How much does the NCB partner, Capital Bank of Jordan, own from the bank's capital? - Capital Bank's share is 62% of the capital of the National Bank of Iraq. Through this partnership, the Bank has access to the world, with Capital Bank as its main correspondent, as well as technical, human and banking support to be provided through Capital Bank to the National Bank of Iraq. To what extent has the partnership between the local and foreign banks increased the Iraqi economy? - Each country seeks to attract foreign investment. The investment of Capital Bank in Iraq is one of the main forms of foreign investment in the Iraqi banking sector. The exchange of expertise is the most important factor in this partnership, such as banking expertise, banking infrastructure, electronic services and development courses. What is the nature of the agreement signed between the Iraqi National Bank and the International Finance Corporation and what are their objectives and to what extent will improve the work of the bank? - A partnership with IFC is very important. We have been working on this project for about a year. The agreement is a simplified representation of the Bank to the International Trade Finance Program. We are the only Iraqi bank. IFC guarantees or guarantees If the bank has been issued a documentary credit to one of the bank's customers for a European, American or Asian bank, the existence of the World Bank guarantee leads to the acceptance of our credit directly, and the name of this institution in the adoption or letter of guarantee issued by the bank Ahli Iraqi open to himWAP and many areas, especially the diversification of network correspondents, and without this institution, it is certain that the situation will be different. What do you rely on after signing this agreement and what is the best use of it? The objective of the agreement is mainly to serve the customers of the bank and enable the bank to open letters of credit to the customers of the bank smoothly and at a low cost, thus this agreement enables us to serve the customers of the bank in the fastest and easiest way, considering that the bank targets all segments and at the level of large companies, To the retail sector. The bank also provides a variety of services to meet the needs of our clients, and the Bank strives to develop and diversify customer services. How effective are the electronic payment cards issued by the National Bank internally and externally? - The spread of these cards is still weak in the Iraqi market, as the Iraqi citizen prefer to exchange currency manually, but we as a bank try to offer our services in general and link credit card services within the products to provide to customers, in addition to contributing to public awareness and education using electronic cards and benefits And its ability to operate inside and outside Iraq. What are the contributions of the Iraqi National Bank in supporting small and medium enterprises within the initiative of the Central Bank? - The Iraqi National Bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative. The number of companies that benefited from this initiative through our bank reached 300 companies, considering that our bank targets various economic sectors, whether agricultural, commercial or industrial. The terms of obtaining this financing are relatively reasonable conditions, including the visit of a specialized team from the bank to the headquarters The company in order to ensure the existence of the project, as for the benefit is a mutual benefit means the benefit of the company and the bank. The bank has made profits through this initiative as being partially supported by the central bank. What is the role of the National Bank of the project to settle salaries? - The project of localization of salaries of the strategies of the Iraqi National Bank, and we entered this project since its inception and we have signed contracts with more than 20 ministries and companies affiliated to those ministries, and we now have 8000 salaries transferred to the Iraqi National Bank. In our opinion, this number is modest compared with the large number of Iraqi employees. Our plan for the next three years aims to double that figure. What does the Iraqi Bank Ahli have plans to develop in the future? - The Board of Directors of the Bank has recently decided to cover the next three years, which includes several strategic directions to improve the financial performance of the Bank, its infrastructure and human resources, and we hope to reach this strategy to cover all aspects and thus enable us to reach a better position in the future. What is your view of the banking sector in Iraq and your assessment of it and to what extent there is competition between private banks? - The banking sector is constantly evolving, and the central bank plays a very important role in this development through supporting private banks and providing many initiatives .. In general, I am optimistic about the future of the Iraqi economy. I call on the Central Bank to speed up activating the Deposit Guarantee and Excellence between effective banks and performing banks At least, because the presence of the weak bank affects the rest of the banks, in addition to the partnership between the private sector and the public and the government's confidence in private banks. Views 18 Date Added 01/17/2019

Parliamentary finance begins writing the budget law in preparation for its approval Parliament. "Internet" money and business Economy News Baghdad The Finance Committee in the House of Representatives to prepare and write the final versions of the draft federal budget law for 2019 after the end of the file of additions to all ministries and government institutions and independent bodies, expected to introduce the bill to vote by the end of next week. The number of observations made by the members of the House of Representatives on the law of the general budget to the Finance Committee of the parliament about "300" note relating to the total allocations for the development of the regions and funds allocated for the reconstruction of western cities and budgets of the provinces of Basra and Babel and Wasit and oil exports from the Kurdistan region. The member of the Finance Committee in the House of Representatives Jamal Couger in an interview with the "range", and his follow-up "Economy News", that his committee "ended the file hosting all institutions and ministries of the State, including deputies and parliamentary blocs and listened to their comments on the federal budget law for 2019." Last week, the Parliamentary Finance Committee set the dates of meetings to host representatives of government ministries and independent bodies and set a time limit for ending this file for five days to discuss the budget law with these government institutions. The Cougar that "the parliamentary finance in the re-drafting of the Federal Budget Law after receiving a large number of observations by these government institutions and members of the House of Representatives," wishing to "finish all formulations in the next few days." The House of Representatives ended the first and second reading of the federal budget law for the year 2019 after the government committee and parliament, which was formed earlier in the amendments described briefly on the draft budget law. The head of the Kurdistan Islamic Union bloc said that "the re-wording includes the conduct of transfers in the sections of the budget disbursement from one ministry to another to ensure reduction," believing that "parliamentary finance needs about a week to almost complete the preparation of the budget law and submit it to vote in the House of Representatives." The federal budget allocated large sums of money to the ministries of defense and interior compared to ministries and other state institutions and investment budgets, where the parliamentary finance committee will conduct transfers in the doors of the exchange of these ministries. The Kurdish MP pointed out that his committee "will enter into the discussion of controversial articles in the budget law, ranging from 20 to 22 articles in the draft law," noting that "the most controversial topics are the funds allocated for the development of the province, and budgets of security ministries with two ministries of sovereignty that arrive ) To more than 60% of the size of the general budget. The draft federal budget law for 2019, sent by the Council of Ministers to the House of Representatives on October 24, 2018 of (52) material. " The federal budget for 2019, about 106 trillion Iraqi dinars, approved in the bulk of its revenues on the export of crude oil at the price of A fixed amount of (56) dollars per barrel with an export rate of more than 3 million and 800 thousand barrels per day, of which 250 thousand barrels through the Kurdistan region of Iraq The MP said in his speech that "the Finance Committee entered into serious meetings devoted to the discussion and preparation of the budget law Federal ", explaining that" the redrafting of the law oThese thier points of contention within the Finance Committee. " He notes that "the total observations of the members of the House of Representatives on the budget law reached about (300) note submitted to the Finance Committee, which will be included in the budget law as well as observations of ministries and independent bodies and other departments in the Iraqi state." And confirms the Kurdish MP, devoid budget of job grades law with the exception of the Ministry of Electricity contracts. " Allocated the proposed budget , the amount of 133 trillion dinars to be spent on repayment of internal and external debt, and 33 trillion dinars for government projects, and 100 trillion current expenditure. Source: Range Views 106 Date Added 17/01/2019 http://economy-news.net/content.php?id=15105

Thursday, 17 January 2019 12:20 PM The Central Bank approves the support and financing of a number of projects The Higher Committee of Tamkeen, which is funded by a number of banks and exchange companies operating in Iraq and supervised by the Central Bank of Iraq, has supported a number of projects in different parts of the country. A statement issued by the Central Bank informed the committee that it had approved "in-kind assistance to a number of citizens", noting that "this step comes in light of the role played by this bank in supporting community, service and humanitarian projects ." He added that " The Supreme Committee for the initiative {enable} confirmed , according to the statement that there are other projects under consideration are distributed to different parts of Iraq , to be implemented after the ratification by this committee in cooperation with the relevant authorities. " P d https://www.thebaghdadpost.com/ar/Story/145755/البنك-المركزي-يصادق-على-دعم-وتمويل-عدد-من-المشاريع

No .. To marginalize the private sector in the budget of the Iraqi people Samir Nusairi Economic and banking consultant The general budget for 2019 is the balance of the Iraqi people patient and bear the suffering of terrorism and poverty and economic instability and assumed when prepared by the government and allocation of allocations as investment and operational expenses is to serve the Iraqi people and maintain the movement of economic and social life of society and create development and stability and reduce unemployment and poverty and achieve growth calculated in Macroeconomics and define a new approach to involve the private sector in the management of the economic process and economic decision-making through institutional partnership, structure and legislation, according to the government curriculum of the government of Dr. Adel Abdul The Mahdi must therefore not be subject The budget of the people for the political and reconciliations of political blocs and interests between the political blocs in parliament and beyond the partisan interests narrow and that the parliament is actually the voice of the people and defender of constitutional rights and be a true representative of the private sector and that the government institutions are not allowed to steal his national role in diversifying and developing sources of revenue to the budget through his contribution In the financing and implementation of infrastructure and strategic projects, in particular the housing and reconstruction projects for the liberated cities. The House of Representatives to discuss the budget quickly and make his remarks and amendments and transfers and ratification by a date not exceeding the month of December Second because any delay in this would harm the national economy and harm the interests of the Iraqi people. And impede giving the required role of the private sector as stated in Article 25 of the Budget Law, which marginalized the private sector and confirms that the budget prepared by the ministries of government did not read the government curriculum and did not comply with Article 25 of the Constitution and still believes that the management of the economy must be government and not to participate in the private sector in a fundamental way But allows him to participate marginally and here requires the House of Representatives to focus in its discussions on the activation of new and effective programs to diversify the sources of revenue and stimulate the agricultural sector and the industrial sector and the tourism sector and give a key role to engage the private sector in economic decision-making and Of the development and reconstruction of cities and liberated government support for private banks and encourage them to provide bank financing for small and medium-sized projects and strategy (infrastructure projects) Because all the problems of Iraq's political and security lies in the economy without comprehensive economic reform and root and the involvement of the private sector planning and funding and implementation and follow-up can not be built Iraq and Iraq's sons, but his sons is sufficient marginalization of experts and intellectuals and promising young people and national entrepreneurs capable of leadership and construction and create a better future. Views 51 Date Added 16/01/2019

The Central Bank cancels a 2% commission payment for the $ 20 category and less Banks Economy News _ Baghdad The Central Bank announced on Tuesday that it has canceled a 2% commission for the $ 20 category and less. "For regulatory purposes, it is decided to cancel the work of paying 20% commission for the $ 20 or less category on the foreign deposits of the banks with the central bank," the bank said in a statement received by the Economist News. The bank added that "the decision will be implemented as of 20 of this January." Views 64 Date Added 15/01/2019