Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Parliament holds its meeting headed by Hamoudi


Butifldrm
 Share

Recommended Posts

Parliament postpones voting in principle on the draft law on the lease of agricultural land

 

 Since 2017-11-14 at 14:01 (Baghdad time)

0-0-ew.jpg

Baghdad Mawazine News

Parliament decided on Tuesday to postpone the vote in principle on the draft law on the lease of agricultural land.

A parliamentary source told Mawazine News that "the parliament delayed the vote in principle on the draft law on the lease of agricultural land to another meeting to complete discussions on it."

  • Upvote 1
Link to comment
Share on other sites

History of edits:: 2017/11/14 15:29 • 18 times readable
Parliament welcomes the families of earthquake victims and votes on two laws and ends reading another five {expanded}
(Baghdad: Al-Furat News) The House of Representatives voted in its 30 ordinary session held under the chairmanship of a member of the Presidency of the Council Sheikh Hamam Hamoudi and in the presence of 170 deputies on Tuesday, the two bills while finished reading five projects and proposals laws.
 
At the start of the session, Sheikh Hamoudi presented a statement to the press department of the House of Representatives received a copy of today's condolences to the families of victims of the earthquake, calling on the government to give full attention to the affected areas, commending MP Adel Rashash and MP Awad al-Awadi, the death of their mother. 
The Council then read Al-Fatihah recitation of the souls of the victims of the earthquake and the spirit of the deceased mother of MP Adel Rashash 
and Park Sheikh Hamoudi on behalf of the Council of the Iraqi people outstanding performance in the hospitality of visitors in the eulogy of Imam Hussein {p} and turned the visit to the point of view of the world, thanking the security services and the competent ministries And the concerned provinces for their role in securing and the success of the visit to the forty, calling on the government to form a higher committee from now to resolve to accommodate visitors that the success of this occasion represents a popular success.
The Council voted on the draft law on the ratification of the Mutual Encouragement and Protection of Investments between the Government of the Republic of Iraq and the Government of the Islamic Republic of Iran, submitted by the Committees of Foreign Relations, Economy and Investment for the purpose of benefiting from the economic resources and facilities available in the investment fields of the Contracting Parties and to create the appropriate conditions for the investments of their nationals in the territory of the other party. Of the Convention. 
The Presidency decided to postpone the vote on the draft law amending the law of the Association of Accountants and Auditors submitted by the committees of civil society, financial and legal to the meeting on Saturday.
The Council completed the vote on the second draft law of the Central Bank of Iraq Law No. 56 of 2004 on the disbanded Coalition Provisional Authority, submitted by the Financial, Economy and Investment Committees for the purpose of increasing the capital of the Central Bank of Iraq and keeping pace with the global economic development. From the outside of the bank and the formation of the audit committee and the issuance of commemorative coins and the imposition of interest on the loans granted by the bank to commercial banks and to keep his money from bookings issued by judicial decisions. 
The Presidency Council voted in principle on the draft law on the lease of agricultural land submitted by the committees of agriculture, water, Marshlands, finance, economy and investment.
The Council concluded the first reading of the draft law on the ratification of the United Nations Convention on Transparency in State-to-State Arbitration of Investors and States submitted by the Committee on Foreign Relations in order to apply the rules of transparency in the equitable settlement of disputes in treaty-based investor-state arbitration and the promotion of good governance and ratification of the Convention. 
The Council completed the first reading of the proposed law of the first amendment to Law No. 13 of 2011, submitted by the Legal Committee in order to make room for a larger segment to contribute to the provision of services to citizens within their areas of work and to further strengthen the role of the selected as the link between the citizen and the local government.

The Council completed the first reading of the draft law of the Sixth Amendment to the Law of Implementation No. 45 of 1980, submitted by the Legal Committee for the purpose of guaranteeing the rights of the State through the non-implementation of the decisions against them only after acquiring the peremptory degree and guaranteeing the right of the wife to obtain her legitimate right without prejudice and stability of the executive transactions Who is charged with paying the fees. 
The Council completed the first reading of the proposed law of the National Authority for the Protection of Peaceful Coexistence submitted by the Endowment, Religious and Legal Affairs Committees for a cohesive, co-existence and tolerant society capable of confronting terrorism, violence, sectarianism and hatred and to accommodate efforts exerted in the field of peaceful coexistence by the Iraqi Council of Representatives. 
The Council concluded the reading of the report and discussion of the proposed law of Babylon, the cultural capital of Iraq and submitted by the committees of culture, information, law, tourism and archeology.
In the interventions of MPs MP Riad Gharib said that the promotion of the tourism sector contributes to the development of the Iraqi economy and diversification of its resources, calling for the global spotlight on the civilization of Babylon. 

MP Abbas al-Bayati pointed out that Iraq is the cradle of civilizations and it is important to make the law an outlet for marketing the effects of Iraq spread in many areas of it, noting the importance of paying attention to the effects through embassies abroad with the establishment of a series of festivals and annual activities in this regard. 
MP Mutashar al-Samarrai that the development of a clear strategy to invest Iraqi antiquities will contribute to support Iraq's financial budget. 
In response to the interventions, the concerned committees stressed the need to work hard to implement the proposals of deputies after the vote on the proposed law. 
It was then decided to adjourn the meeting until next Thursday
  • Upvote 1
Link to comment
Share on other sites

The House of Representatives votes on two laws and ends reading five laws

The Speaker of the House of Representatives Sheikh Hamam Hamoudi and the presence of 170 deputies on Tuesday, 14/11/2017, the law of the House of Representatives in the ordinary session, which was held under the chairmanship of the First Deputy Speaker of the House of Representatives,

At the beginning of the session, the First Deputy Speaker of the House of Representatives expressed his deepest condolences and condolences to the families of the victims of the earthquake, calling on the government to give full attention to the affected areas, commending MP Adel Rashash and MP Awad al-Awadi for the death of their mother.

Then the Council read the Surat Al-Fatihah in tribute to the souls of the victims of the earthquake and the spirit of my mother-in-law.

Sheikh Hamoudi, on behalf of the Iraqi People's Assembly, praised the outstanding performance of visitors in the fourteenth Imam Hussain (AS) and turned the visit to the point of view of the world, thanking the security services and the competent ministries and governorates concerned for their role in securing and success of the 40th visit. To accommodate visitors, the success of this event is a popular success.

The Council voted on the draft law on the ratification of the Mutual Encouragement and Protection of Investments between the Government of the Republic of Iraq and the Government of the Islamic Republic of Iran, submitted by the Committees of Foreign Relations, Economy and Investment for the purpose of benefiting from the economic resources and facilities available in the investment fields of the Contracting Parties and to create the appropriate conditions for the investments of their nationals in the territory of the other party. Of the Convention.

The Presidency decided to postpone the vote on the draft law amending the law of the Association of Accountants and Auditors submitted by the committees of civil society, financial and legal to the meeting on Saturday.

The Council completed the vote on the second draft law of the Central Bank of Iraq Law No. (56) of 2004 on the Coalition Provisional Authority (dissolved) and submitted by the financial committees and the economy and investment for the purpose of increasing the capital of the Central Bank of Iraq and keep abreast of global economic development and grant powers to the bank and increase the number of members In the board of directors of the bank outside the bank and the formation of the audit committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and to keep his money from the bookings issued by judicial decisions.

The Presidency postponed voting in principle on the draft law on the lease of agricultural land submitted by the committees of agriculture, water, Marshlands, finance, economy and investment.

The Council concluded the first reading of the draft law on the ratification of the United Nations Convention on Transparency in State-to-State Arbitration of Investors and States submitted by the Committee on Foreign Relations in order to apply the rules of transparency in the equitable settlement of disputes in treaty-based investor-state arbitration and the promotion of good governance and ratification of the Convention.

The Council completed the first reading of the proposed amendment to Law No. 13 of 2011, submitted by the Legal Committee in order to allow a larger segment to contribute to the provision of services to citizens within their areas of work and to further strengthen the role of the electors as the link between the citizen and the local government.

The Council completed the first reading of the Sixth Amendment Law of the Implementation Law No. (45) of 1980, submitted by the Legal Committee for the purpose of guaranteeing the rights of the State through the non-implementation of the decisions against it only after acquiring the absolute degree and guaranteeing the right of the wife to obtain her legitimate right without prejudice and stability of the executive transactions with respect to To determine who is responsible for paying the fees.

The Council completed the first reading of the proposed law of the National Authority for the Protection of Peaceful Coexistence submitted by the Endowment, Religious and Legal Affairs Committees for a cohesive, co-existence and tolerant society capable of confronting terrorism, violence, sectarianism and hatred and to accommodate efforts exerted in the field of peaceful coexistence by the Iraqi Council of Representatives.

The Council concluded the reading of the report and discussion of the proposed law of Babylon, the cultural capital of Iraq and submitted by the committees of culture, information, law, tourism and archeology.

In the interventions of the ladies and gentlemen MPs MP Riad Gharib stressed that the promotion of the tourism sector contributes to the development of the Iraqi economy and the diversification of its resources, calling for the global spotlight on the civilization of Babylon.

MP Abbas al-Bayati pointed out that Iraq is the cradle of civilizations and it is important to make the law an outlet for marketing the effects of Iraq spread in many areas of it, noting the importance of paying attention to the effects through embassies abroad with the establishment of a series of festivals and annual activities in this regard.

MP Mutashar al-Samarrai that the development of a clear strategy to invest Iraqi antiquities will contribute to support Iraq's financial budget.

In response to the interventions, the concerned committees stressed the importance of working hard to implement the proposals of the ladies and gentlemen of deputies after the vote on the proposed law.

It was then decided to adjourn the meeting until next Thursday, 16-11-2017.

Department of Information

Iraqi Council of Representatives

14/11/2017

 

http://ar.parliament.iq/2017/11/14/مجلس-النواب-يصوت-على-قانونين-وينهي-قرا-6/

  • Like 1
  • Upvote 3
Link to comment
Share on other sites

 

 

3658.jpg
 
  

Economy News _ Baghdad

 

The House of Representatives voted in its Tuesday session on the draft law of the second amendment to the law of the Central Bank.

A parliamentary source told "Economy News" that "the House of Representatives voted on the draft law of the second amendment to the Central Bank Law issued by Order No. (56) for 2004 on the Coalition Provisional Authority (dissolved)  during its meeting today."

The House of Representatives held its regular session of 30 of the current legislative term on Tuesday, under the chairmanship of Vice-President Hammam Hamoudi, and the presence of 171 deputies.

 

 

 

Views 296   Date Added 11/14/2017

 
 
  • Like 1
  • Upvote 4
Link to comment
Share on other sites

Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved)

 November 14, 2017 935 Views

Supervisory Committee: Finance Committee

First reading on 8/7-2017

 

Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved)

In the name of the people Presidency On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution The following law was issued: No. (2017) Law The second amendment to the law of the Central Bank of Iraq issued by order No. (56) of 2004 on the Coalition Provisional Authority (dissolved) Article (1) Article (5) of the Central Bank of Iraq Law issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved) shall be repealed and replaced by the following: 1 The capital of the Central Bank of Iraq (1 trillion) one trillion dinars owned by the state in full. Article 2 Add the following to Article (10) of the Law and paragraph (3) have: 3. The Board shall consist of (3) non-staff members of the Bank who possess the educational qualifications and practical experience in the fields of financial management, accounting, law and economics. The Board shall organize its functions and procedures according to the international standards and best practices of the Central Banks and issued by the Governor. Article 3 Articles (c) and (d) of Article (11) of the Law shall be canceled and replaced by the following: C is one of the bank's general managers. D. Five members from outside the Central Bank of Iraq with experience and competence in financial, banking or legal affairs. Article 4 The text of Article (27) of the Law shall be repealed and replaced with the following: Article 27 1 The Central Bank of Iraq shall conduct transactions on foreign assets and shall manage the official reserve of foreign exchange of the State in accordance with international best practices and monetary policy objectives. The Council may invest such reserves in any of the following assets or in all: A golden cash in the coffers of the Central Bank of Iraq. B) Foreign monetary and mineral currencies which are normally used in the performance of international accounts held by the Central Bank of Iraq or for its own account. C) Credit balances are payable on demand or payable short-term in foreign exchange, which is normally used for the performance of international accounts maintained by the CBI in its accounts or those invested through repurchase and repurchase agreements and fixed fixed term deposits. Special Drawing Rights available to the Iraq Account at the International Monetary Fund. (E) Investment instruments available at the International Monetary Fund. And any securities of negotiable debt issued by or in full confidence and dependence of foreign governments, central banks, international financial institutions and foreign local authorities and agencies, which are paid in foreign currencies, which are normally used to perform international accounts held by the Central Bank of Iraq or for its own account. 2. The Bank may use derivatives in investment portfolios as a hedging instrument. Article (5) The following shall be added to Article (30) of the Law and shall have: C) The loan granted to the Bank for interest determined by the Bank in accordance with market requirements. Article 6 Add the following to article (33) of the law and paragraph (6) have: 6 The Central Bank of Iraq issue non-negotiable commemorative coins. Article 7 The text of paragraph (2) of Article (48) of the Law shall be repealed and replaced with the following: 2. The Central Bank of Iraq shall choose an international company to carry out the functions of external audit and financial auditing for a period of five (5) years, and may not be repeated for a consecutive period of more than 10 years. Article 8 The text of Article (72) of the Law shall be repealed and replaced with the following: Article 72 The seizure of CBI funds, including gold, special drawing rights, cash, credits, deposits, securities or any revenues of the Central Bank of Iraq, may not be made. Article 9 The words "securities" shall replace the words "bonds and treasury bills", wherever they are mentioned in the law. Article 10 The text of paragraph (n) of Article (16) of the Law shall be repealed and replaced by the following: N- Approve the rules of procedure, guidelines and rules of the Bank and its functions in managing and managing its operations, and determining the organizational structure of the Central Bank of Iraq, including the location of branches of the Central Bank of Iraq and the abolition and development of the General Directorate. Article 11 This Law shall be implemented from the date of its publication in the Official Gazette. Positive reasons To increase the capital of the Central Bank of Iraq and to keep abreast of the global economic development and grant powers to the bank and increase the number of members of the Board of Directors of the bank from outside the bank and the formation of the Audit Committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and the preservation of funds from the bookings issued by judicial decisions. This law was enacted
 
  • Upvote 7
Link to comment
Share on other sites

13:45
Last updated
The time now is 02:05 PM
294
Watch
 
 
 
BAGHDAD (Reuters) - 
A member of the parliamentary finance committee, the governor of Sarhan, on Tuesday expected to discuss the draft budget bill of 2018 early next month for the travel of the committee members to Canada. 
"All members of the Finance Committee are traveling to Canada to attend a conference, except for the Kurdistan Democratic Party," Sarhan said. "Even if the draft budget reaches parliament, it can not be discussed because there are no members of the Finance Committee."
He added that "members of the Kurdistan Democratic Party, are still boycotting the sessions of the parliament, I believe that the budget will be discussed at the beginning of next month after returning from travel and after the House of Representatives."
  • Upvote 3
Link to comment
Share on other sites

The Iraqi parliament votes to increase the capital of the "Central Bank" and give him powers

The Iraqi parliament votes to increase the capital of the "Central Bank" and give him powers
Draft amendment submitted by the Financial, Economic and Investment Committees
 

14 November 2017 03:56 PM

Direct : The Iraqi parliament voted in today's session on the draft amendment of the second law of the Central Bank of Iraq for the purpose of increasing the capital and grant powers.

The Iraqi parliament said in a statement on Tuesday that the draft amendment law submitted by the financial and economic committees, and investment, includes keeping pace with the global economy, and increase the number of members of the Board of Directors of the bank from outside the bank.

The amendments also include the formation of an audit committee, the issuance of commemorative coins, the imposition of interest on loans granted by the bank to commercial banks, and the preservation of its funds from bookings issued by judicial decisions, according to the Parliament statement.

It is noteworthy that the law of the Central Bank of Iraq issued Order No. (56) for 2004 on the Coalition Provisional Authority (dissolved).

  • Upvote 9
Link to comment
Share on other sites

Law on the ratification of the United Nations Convention on Transparency in the Arbitration of Investors and States

Supervisory Committee: Committee on Foreign Relations, Committee on Economy and Investment

 

Law on the ratification of the United Nations Convention on Transparency in the Arbitration of Investors and States

In the name of the people Presidency On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution The following law was issued: No. (2017) Law Ratification of the United Nations Convention on Transparency in Treaty Arbitration Between investors and states Article 1 The Republic of Iraq ratifies the United Nations Convention on Transparency in Mutual Arbitration between Investors and States, signed at Port Louis, Mauritius on 17/3/2015 and signed by the Republic of Iraq in New York on 10/2/2017. Article 2 This Law shall be implemented from the date of its publication in the Official Gazette Positive reasons With a view to applying the rules of transparency in the equitable settlement of disputes in treaty-based investor-State arbitration and the promotion of good governance, and for the purpose of ratifying the United Nations Convention on Transparency in Investor-State Arbitration. This law was enacted
 
  • Upvote 8
Link to comment
Share on other sites

2 hours ago, yota691 said:

"Even if the draft budget reaches parliament, it can not be discussed because there are no members of the Finance Committee."

 

These folks are laughable. Pathetic.....yet laughable. Just had a 2 week break, delayed assembly due to lack of quorum, Kurds not in attendance AGAIN and no budget. So I am glad to see....they lived DOWN to my expectations !!

                                                                                                                                 :)

 

                                                            reality.jpg

 

Edited by King Bean
  • Upvote 2
  • Downvote 1
Link to comment
Share on other sites

I  was noticing some differences in wording between the 1st reading and final vote.  In the first reading the Commision would be responsible  to audit and issue commemorative coins and impose interest on loans granted by the bank to commercial banks and maintenance of its funds from judicial decisions and the final vote's description is a little sketchy.  

 

 

July the 8th The First Reading Directive was described as the following:

 

The Council completed the first reading of the draft law of the Second Amendment to the law of the Central Bank of Iraq issued by order No. 56 of 2004 on the Coalition authority of the Interim (dissolved) Financial Committee for the purpose of increasing the capital of the central Bank of Iraq and to keep pace with the economic development and to grant the bank powers and increase the membership of the Bank board from outside the bank and to form a commission to audit and issue commemorative coins and impose interest on loans granted by the bank to commercial banks and maintenance of its funds from judicial decisions

 

 

 

Today November 14th The Vote on the Second Draft Law Central Bank Law No. (56) 0f 2004 described as the following:

 

The Council completed the vote on the second draft law of the Central Bank of Iraq Law No. (56) of 2004 on the Coalition Provisional Authority (dissolved) and submitted by the financial committees and the economy and investment for the purpose of increasing the capital of the Central Bank of Iraq and keep abreast of global economic development and grant powers to the bank and increase the number of members In the board of directors of the bank outside the bank and the formation of the audit committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and to keep his money from the bookings issued by judicial decisions.

  • Upvote 5
Link to comment
Share on other sites

This amendment just now actually gave the cbi its full independence. There were still parts of the original law that were part of the original cpa order, that we administered when we invaded. So now it makes the cbi independent of everyone, with the exception that it does answer slightly to the house of reps and that's in the constitution, the board of directors have to have degrees and be "technocrats" in their fields. This board of directors oversees the actions of the central bank and that is what they need for full transparency. Also the un order they signed that is now in affect will also create the foundation that is needed in a market economy because it protects the investors in the way that they can feel more secure in making sure they wont lose their money if their is a dispute. That law when maliki was pm we were told was actually signed and was in the gazette. Guess we know it must have been fake news. This gives the cbi the powers it needs to keep its reserves safe from anyone that the cbi were to lend to and then if the person or company that the money was lent  to ends up with a judicial decision against them, the courts cannot keep the money from the central bank. That is a huge leap for this country. Now they can actually function as an international central bank in the way that most do and that is investing its capital into areas where it can make the cbi even more money, and that would mean derivatives, etc as they mentioned in the articles. As of now they could really only issue bonds and such and that was not creating enough wealth for them and their reserves were being depleted not only from that but also from the corruption. I am really liking what i see in the news from the economic stand point. ;)

  • Like 2
  • Upvote 4
Link to comment
Share on other sites

2017/11/15 (00:01 PM)   -   Number of readings: 608   -   Number (4063)
 
 
-1.jpg?width=400



 Baghdad / Range 
 

The House of Representatives, yesterday, the reading of five projects and proposals laws, including "the proposed law of Babylon, Iraq's cultural capital." The Parliament voted on the Second Amendment Law of the Central Bank Law and the Agreement on Encouragement and Mutual Protection of Investments between Iraq and Iran.

This came during the thirtieth session of the House of Representatives, which was held yesterday under the chairmanship of a member of the Presidency of the Council Hammam Hamoudi and the presence of 170 deputies, according to a statement, got (range), a copy of it. 
The session witnessed the vote on the draft law on the ratification of the agreement of encouragement and mutual protection of investments between the governments of Iraq and Iran, as well as the vote on the second draft law of the Central Bank of Iraq Law No. 56 of 2004. 
The parliament also completed the first reading of the draft law of ratification of the United Nations Convention on Transparency in Arbitration And completed the first reading of the proposed law of the first amendment to Law No. 13 of 2011.
The session included the completion of the first reading of the draft law of the Sixth Amendment to the Implementation Law No. 45 of 1980 and the first reading of the proposed law of the National Commission for the Protection of Peaceful Coexistence submitted by the Endowments, Religious and Legal Affairs Committees. 
The Parliament also completed the reading of a report and discussion of the draft law of Babel, the cultural capital of Iraq submitted by the committees of culture, information, law, tourism and archeology. 
The Presidency decided to postpone the vote on the draft law amending the law of the Association of Accountants and Auditors, as well as postpone the vote in principle on the draft law on the lease of agricultural land submitted by the committees of agriculture, water and the Marshlands, finance, economy and investment.

  • Upvote 2
Link to comment
Share on other sites

CNN. Broadcasting With Oven Mitts - Hot Off The Presses !

 

 

Dannair publishes the Second Amendment Law to the Central Bank of Iraq Law

 
 
Updated 16/11/2017 3:00 pm 
NB-190447-636186103938410611.jpg

Baghdad / Dinar / .. The voice of the House of Representatives on the law of the Central Bank of Iraq issued Order No. (56) for 2004 on the Coalition Provisional Authority (dissolved) ..

The following is the text of the law

 

In the name of the people

Presidency

On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution

The following law was issued:

No. (2017)

Law

The second amendment to the law of the Central Bank of Iraq issued by order

No. (56) of 2004 on the Coalition Provisional Authority (dissolved)

Article (1) Article (5) of the Central Bank of Iraq Law issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved) shall be repealed and replaced by the following:

1 The capital of the Central Bank of Iraq (1 trillion) one trillion dinars owned by the state in full.

Article 2 Add the following to Article (10) of the Law and paragraph (3) have:

3. The Board shall consist of (3) non-staff members of the Bank who possess the educational qualifications and practical experience in the fields of financial management, accounting, law and economics. The Board shall organize its functions and procedures according to the international standards and best practices of the Central Banks and issued by the Governor.

Article 3 Articles (c) and (d) of Article (11) of the Law shall be canceled and replaced by the following:

C is one of the bank's general managers.

D. Five members from outside the Central Bank of Iraq with experience and competence in financial, banking or legal affairs.

Article 4 The text of Article (27) of the Law shall be repealed and replaced with the following:

Article 27 1. The Central Bank of Iraq shall hold transactions on foreign assets and shall manage the official reserve of foreign currency of the State in accordance with international best practices and monetary policy objectives. The Council may invest such reserves in any of the following assets or in all:

A golden cash in the coffers of the Central Bank of Iraq.

B)Foreign monetary and mineral currencies which are normally used in the performance of international accounts held by the Central Bank of Iraq or for its own account.

C) Credit balances are payable on demand or payable short-term in foreign exchange, which is normally used for the performance of international accounts maintained by the CBI in its accounts or those invested through repurchase and repurchase agreements and fixed fixed term deposits.

Special Drawing Rights available to the Iraq Account at the International Monetary Fund.

(E) Investment instruments available at the International Monetary Fund.

And any securities of negotiable debt issued by or in full confidence and dependence of foreign governments, central banks, international financial institutions and foreign local authorities and agencies, which are paid in foreign currencies, which are normally used in the performance of international accounts held by the Central Bank of Iraq or for its own account.

2. The Bank may use derivatives in investment portfolios as a hedging instrument.

Article (5) The following shall be added to Article (30) of the Law and shall have:

C) The loan granted to the Bank for interest determined by the Bank in accordance with market requirements.

Article 6 Add the following to article (33) of the law and paragraph (6) have:

6 The Central Bank of Iraq issue non-negotiable commemorative coins.

Article 7 The text of paragraph (2) of Article (48) of the Law shall be repealed and replaced with the following:

2. The Central Bank of Iraq shall choose an international company to carry out the functions of external audit and financial auditing for a period of five (5) years, and may not be repeated for a consecutive period of more than 10 years.

Article 8 The text of Article (72) of the Law shall be repealed and replaced with the following:

Article 72 The seizure of CBI funds, including gold, special drawing rights, cash, credits, deposits, securities or any revenues of the Central Bank of Iraq, may not be made.

Article 9 The words "securities" shall replace the words "bonds and treasury bills", wherever they are mentioned in the law.

Article 10 The text of paragraph (n) of Article (16) of the Law shall be repealed and replaced by the following:

N- Approve the rules of procedure, guidelines and rules of the Bank and its functions in managing and managing its operations, and determining the organizational structure of the Central Bank of Iraq, including the location of branches of the Central Bank of Iraq and the abolition and development of the General Directorate.

Article 11 This Law shall be implemented from the date of its publication in the Official Gazette.

Positive reasons

To increase the capital of the Central Bank of Iraq and to keep abreast of the global economic development and grant powers to the bank and increase the number of members of the Board of Directors of the bank from outside the bank and the formation of the Audit Committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and the preservation of funds from the bookings issued by judicial decisions. (End) 22 /

link

  • Upvote 3
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.