Spiked Camel Java !

[DinarThug]

LINK

International Islamic Bank announces the launch of the Travel Card service

 

25th July, 2019

 

 

The International Islamic Bank launched a new service under the name of travel cards (Travel Card) in the presence of the Governor of the Central Bank of Iraq Ali Alaq and the Association of Iraqi private banks, at the headquarters of the bank

The Governor of the Central Bank, Ali Al-Alak, said in a speech during the ceremony and attended by "Economy News" that "the International Bank surprises us from time to time through the introduction of new banking products to keep abreast of developments in the banking business in all parts of the world," noting today the world is witnessing the so-called revolution The fourth revolution (digital revolution), which is changing the face of the world now in another direction and the banking sector is the first in this revolution, providing speed, accuracy, service and means of analysis and control at work

He added that the Central Bank is focusing today on the replacement of electronic tools to carry out all banking operations and to keep banks from dealing with the customer with a lot of costs and effort previously

He pointed out that "the radical solution to end the talk of corruption within the institutions of the state is the introduction of modern technologies and make them manage operations and remove the citizen from the employee to eliminate the phenomenon of bribery and extortion and other negative aspects

For its part, the Managing Director of the International Islamic Bank Suha Al-Kafai said that the bank launched a specific strategy for four years from the date 2016 2020 coincided with the strategy of the Central Bank in modernizing the banking system and today we announce that we have implemented all our plans for this period to build an Iraqi bank The methodology of scientific development using modern electronic systems to save time, effort and money to beneficiaries of this bank

Al-Kafa'i explained that today we celebrate the release of the travel card (JD, USD) and the Internet Bank, which is the first of the electronic systems, so that the citizen and the owners of companies and foreign investor can enter his bank account wherever he is in any country and use his account with payment and transfer services, Or a personal computer

She pointed out that "most of the international companies looking for banking services in Iraq equivalent to the owners in the countries of the world have all the protections required from the risks expected to encourage them to enter and invest in the country and today we tell them we provide these services and provides a solid financial environment Organization seeks to contribute to the reconstruction of Iraq Seriously and practically

[DinarThug]

They’re Still Going Bro’s !  

 

     

 

 

 

LINK

Parliament raises its meeting to next Tuesday

 

 

 

25th July, 2019

 

The House of Representatives, Thursday, its meeting to Tuesday.

The reporter / information / that the Deputy Speaker of the House of Representatives Hassan al-Kaabi raised the session of the House of Representatives to Tuesday of next week, "pointing out that the parliament voted on the draft law of the Supreme Iraqi Navy.

The House of Representatives ended the first reading of the draft law on the ratification of the double taxation agreement and the prevention of evasion of taxes on income and capital between the Government of the Republic of Iraq and the Hankar government.

The House of Representatives also completed the first reading of the draft bill to collect the example of state-owned land for non-agricultural purposes.

[DinarThug]

On 7/4/2019 at 12:54 PM, DinarThug said:

Parliament to attend a final session to end the amendment of the budget and the nominations of special grades

 

Baghdad / Mohammed Sabah

Prime Minister Adel Abdul-Mahdi told the Presidency of the Council of Representatives his intention to send a second list of nominations for special grades in the coming days, consisting of thirty candidates.

The Parliament is preparing to hold its last session in its current legislative term in mid July to vote on the amendment of the federal budget law and on the first and second lists sent by the government to end the file of the Department of Labor by proxy.

The first amendment of the Federal Budget Law will include a clause extending the work of the Agency and obliges the implementation of this amendment retroactively from 30/6, which was exploited by the General Secretariat of the Council of Ministers, which re-appointed the Agency after its abolition in the budget law.

"The House of Representatives objected to the list sent by the government, which includes the names of six candidates to fill some of the positions and positions of private," saying that "the objections were on the age of those candidates who exceeded Seventy years. "

Karbouli said that "the parliament demanded an explanation by the government on the legality of the nomination of those over the age of 70 years as candidates for independent bodies or special grades," noting that "this list represents the first batch of ninety degrees, especially the government intends to send to parliament."

The list sent by the government included Ali Abdul Amir Allawi as a candidate for the Governor of the Central Bank, Salah Nouri Khalaf to the Chief of the Financial Control Bureau, Mohammed Abdul Hadi Mohammad Taqi Al Hakim as Advisor to the Prime Minister, Fayadh Hassan Nima as Undersecretary of the Ministry of Oil and Hamid Yunis Saleh Al Zobaie as Undersecretary of the Ministry of Oil, And Adel Karim Kak Ahmed as the Undersecretary of the Ministry of Industry.

He pointed out that "the first batch took into account the government the principle of balance between the various components," pointing out that "the government is proposed in its government program to cancel the work of the Agency for all positions and positions within six months, which included in the law of the general budget."

The law of the general budget in Article (58) required the termination of the agencies' file before the first of July, considering that any action after this date is null and void and has no legal effect, and called on the concerned department to stop all financial allocations and administrative powers in case it continues.

Differences between the different blocs and components were settled after the prime minister moved to replace the agents of ministries and advisers.

The government tried to get out of the legal impasse, which requires the suspension of the work of all positions managed by the proxy after the first of July by sending the first amendment to the federal budget law, which enabled the House of Representatives to end the second reading.

In order to remedy this legal problem, the General Secretariat of the Council of Ministers has circulated books to all ministries that allow office holders and sites managed by the Agency to continue working until October 24.

Karbouli believes that "the decision of the General Secretariat of the Council of Ministers is incorrect because it needs a law amending the law that requires the termination of agencies in all joints of the Iraqi state," revealing that "special grades, which includes agents, consultants and independent bodies up to ninety degrees."

He explained that "the number of agents of ministers (67) agents, independent bodies (28) independent body in the lists that are to be changed," stressing that "negotiations between the Prime Minister and the blocks are not suspended on the agreement to resolve sites and positions managed by proxy."

He said that "the only dispute that is going on in these negotiations lies in the divergence of the prime minister's desire for the ambition and ambition of the heads of political blocs." He explained that "the Sunni forces focus on the principle of balance in the distribution of all special grades."

The Prime Minister Adel Abdul Mahdi, with the alliance of others and opening during the previous periods to the need to replace (500) government-administered sites before the thirty of June this month to be completed the rest of the sites and positions later.

On 17 June, Al-Mada revealed the termination of the negotiating committees set up by the Prime Minister earlier in the year, naming 150 new general managers and 10 independent bodies.

In contrast, the Alliance bloc revealed that in the next few days the government will send a new list of 20 to 30 names nominated to fill a number of ministries and embassies agencies, "stressing that" the parliament will hold one session before entering the holiday of the current legislative term. "

"There is a difference of views in the House of Representatives on the preliminary list sent by the government to end the agency's work for six positions and special positions," said bloc member Mudar al-Azrijawi. "The differences between the prime minister and the blocs led to a little resolution Of these grades. "

The Constitution requires in Article (61) V / B - C vote of the House of Representatives on ambassadors and holders of special grades and the Chief of Staff and his assistants, and those in the post of division commander and above, on the proposal of the Council of Ministers.

"The extension will give the blocs and the prime minister another opportunity to agree on the resolution of more than (5000) degrees and a special director-general is running proxy in the Iraqi government," noting that "the new list will come in the current legislative term."

As for how to deal with the legal impasse that requires the suspension of the powers of people who run their positions by proxy, the representative of the province of Maysan said that "the General Secretariat of the Council of Ministers adopted in its new columns the amendment contained in the budget law, which provides for the implementation of this law from 30/6.

"The addition of this paragraph will eliminate this gap in the file agencies and therefore after the completion of the vote on the amendment of the budget law by the House of Representatives will be their actions (agencies) legal and correct."

It is likely that "the next parliament session and the final in the current legislative term will be after next week, where it will vote on the amendment of the budget law and pass the first and second lists of positions and sites managed by proxy."

The House of Representatives has raised the session on Tuesday after it included interventions not to give the government a specific period to resolve the issue of proxy positions to provide an opportunity for the selection of candidates with the importance of speeding the government to resolve the file in a neutral and full and send names to the House of Representatives.

link

 

Allawi As The New CBI Governor Was Originally Mentioned Earlier This Month Bro’s !  

 

     

 

 

 

LINK

The appointment of a new governor of the Central Bank and a head of the Financial Control Bureau

 

 

 

2019/7/25 15:14

 

 

Cabinet decided, in its first meeting on Tuesday, the appointment of a new governor of the Central Bank of Iraq.
 

According to a document of the Secretariat of the Council of Ministers obtained the {Euphrates News} a copy of them, the Council "decided to recommend to the House of Representatives to appoint [Ali Abdul Amir Allawi] governor of the Central Bank, based on the provisions of Article 1 of the First Amendment Law of the Central Bank of Iraq.

The appointment of { Salah Nuri Khalaf} head of the Federal Financial Control Bureau, based on the provisions of Article 23 of the Law of the Office of Financial Supervision. The Council of Ministers also asked the House of Representatives to appoint [Mohamed Abdel Hadi Mohamed Taqi Hakim} adviser to the Prime Minister, and [Fayad Hassan Nema] agent of the Ministry Oil, and {Hamid Younis Saleh Zobaie} and K. Yalla to the Ministry of Oil and {Adel Karim Kak Ahmed} as the Undersecretary of the Ministry of Industry and Minerals

 

 

[DinarThug]

44 minutes ago, DinarThug said:

To discuss the budget and oil files .. Baghdad delegation arrives in the region

 

 

 

2019/7/25 9:58 

 

 

A delegation from the federal government arrived Wednesday evening in the city of Erbil, and is scheduled to meet with senior officials in the Kurdistan region to discuss the file of oil and budget and Article 140 and outstanding problems.

 

The delegation consists of the ministers of finance and oil, the adviser of the Security Council and the representative of the Prime Minister and a number of advisers and other officials in the federal government.  "The meeting today will be the beginning of a series of future meetings, which are scheduled to be held before the end of this year, to resolve the outstanding problems between Baghdad and Erbil on oil issues, the budget and Article 140 and the security issue." 

"The meetings will be serious and aim at reaching a four-year long-term agreement and the prime ministers of the two sides will closely supervise the meetings and form a technical committee for a number of problems,"the source said.

 

Here’s An Update From The Meeting Bro’s - CNN Is ‘Hiding’ Behind Those Curtains In The Background But U Can’t See My Big Giant Clown Shoes Sticking Out From Underneath At This Angle !  

 

      

 

 

LINK

The start of the Baghdad delegation meeting with the region

 

 

 

2019/7/25 13:08

 

 

The meeting of the delegation of the Kurdistan Regional Government on Thursday, with a high delegation from the federal government in Arbil to discuss the outstanding issues.
 

The Talabani, Vice President of the Kurdistan Regional Government has received on Wednesday evening, the federal delegation, to discuss the issues of financial budget and the Peshmerga, Kirkuk and Kurdish areas outside the administration of the Kurdistan Region and normalize relations with Baghdad.

It is noteworthy that the delegation of the Baghdad government includes all of the delegation consists of, Faleh Fayyad, Thamer Ghadhban, Oil Minister, Abu Jihad al-Hashemi. "

 

Edited July 25, 2019 by DinarThug

[DinarThug]

LINK

The Central Bank is directing a freeze on those covered by US sanctions

 

25th July, 2019

 

The Economist News Agency publishes a document issued by the Central Bank that includes a directive to freeze accounts covered by US sanctions

The US Treasury Department has imposed sanctions on four Iraqi people for human rights violations and corruption

 

 

Translation 

To all banks / non-bank financial institutions What is included: Iraqi names on the list of (global sanctions) OFF | Greetings ... We affirm our support numbered No. 2/2/9 dated 2019/2/5 In addition to what is stated Your institutions must know the names listed on the list of (global sanctions) on 2019/7/17. In the case of any name that has a deal or account with your institutions is frozen and the prevention of any financial transaction or bank with him and prevent his access to the currency of the dollar and to provide this bank with all accounts Bank and any other special information.

 

###############

 

LINK

Central Bank froze accounts covered by US sanctions (document)

[DinarThug]

2 minutes ago, DinarThug said:

The Central Bank is directing a freeze on those covered by US sanctions



 

 

 

After the report "ICLD" .. Other corruption suspicions hover around the central bank

 

In Economy , Local  22 July, 2019 

 

BAGHDAD / SNG - The head of the parliamentary integrity committee Hisham al-Suhail confirmed that his committee opened the file of the currency auction and the conversion of foreign currency abroad, adding that the committee will announce the results of the investigation after its completion. 

"There are several suspicions of corruption of the Central Bank in recent periods, but the investigations did not prove actual violations," Suhail told SNG. 

He added that "the Integrity Commission still has some files distorted by suspicions of corruption in the Central Bank." 

Al-Suhail pointed out that "the files belong to the currency auction and the conversion of hard currency abroad, and the Committee continues to audit all the files received." 

"The commission can not give precise details about the nature of the suspicions and the results of the investigation until after the completion of the investigation in full." 

He added that "the file in the Integrity Commission concerns the suspicions of corruption auction currency and the conversion of hard currency abroad, but until the moment is just a news."

The Iraq Center for Legal Development (ICLD), revealed on Monday, 17 suspected corruption that has plagued the work of the Central Bank of Iraq over the past years. 

The Center said in its report to the Supreme Council for the fight against corruption, "The previous investigations were not conducted in an integrated manner, causing the door of corruption remains open to impact negatively on the Iraqi economy," noting that "previous investigations have focused on the authenticity of bills issued by banks and companies from Only formal aspect ". 

He pointed out that "the need to ensure the official authorities on the fact of the import of goods and goods amounts equal to the amounts of remittances and if it proves that will prove a complex crime of fraud and fraud and smuggling of funds and damage to the Iraqi economy."

The report confirmed that "international banks have not verified the amounts of remittances alleged to them, and inquire about the fact of receipt of the relevant parties or to convert them again in favor of other accounts, whether in the same bank or other banks, and here will prove the crime of currency smuggling in a certainty." 

The report said that "the central bank administration has doubled the number of banks in Iraq to almost three times without a feasibility study to exceed the number of Iraqi banks the number of banks of the countries of Britain and the UAE, Jordan and Lebanon combined, which opened a new corruption is the sale and purchase of licenses establishment. 

The Center called for "verification of the licenses of banking companies granted in the past three years, and verification of banks belonging to political or supported by it, which will reveal political corruption, concluding with the demand also to verify the overstatement of the building of the central bank to be built.
link

[6ly410]

3 hours ago, navira said:

Wow...this is getting really serious bro....let's go bros

Cheers bro 

[zul]

3 hours ago, navira said:

Wow...this is getting really serious bro....let's go bros.

 

Surely is Navira..........10 pages of instructions and mechanisms on counting and replacement of banknotes.

 

I think they have circulated these instructions once before, late last year if I'm not mistaken).

 

So this must be a reminder to the banks (of some sorts)........ ~  something huge is about to happen...🎻

Edited July 25, 2019 by zul
.

[6ly410]

2 minutes ago, zul said:

 

Surely is Navira..........10 pages of instructions and mechanisms on counting and replacement of banknotes.

 

I think they have circulated these instructions once before, late last year if I'm not mistaken).

 

So this must be a reminder to the banks (of some sorts)........ ~  something huge is about to happen...🎻

Exactly haha cheers 

[zul]

2 minutes ago, 6ly410 said:

Exactly haha cheers 

 

🍸🍸

[navira]

Cheers bros

[DinarThug]

15 minutes ago, zul said:

I think they have circulated these instructions once before,

 

Good Memory - And Most Recently In May !  

 

     

 

 

22nd May, 2019

To / all banks approved ( instructions and standards for the circulation and replacement of
banknotes and counting mechanisms )

Due to non-compliance with the instructions and standards of circulation of banknotes and replace them and the counting and sorting mechanisms, we confirm what came in the letter of the Department of Issuance and Treasury / Department of Banking Follow-up and Compliance / Banking Follow-up Division No. 1470/8/12 dated 2018/4/10, Your banks through the above-mentioned inspection and inspection bodies.   

https://cbi.iq/news/view/1110
 

[davis411]

19 minutes ago, zul said:

 

Surely is Navira..........10 pages of instructions and mechanisms on counting and replacement of banknotes.

 

I think they have circulated these instructions once before, late last year if I'm not mistaken).

 

So this must be a reminder to the banks (of some sorts)........ ~  something huge is about to happen...🎻

Today

[zul]

6 minutes ago, DinarThug said:

 

Good Memory - And Most Recently In May !  

 

     

 

 

22nd May, 2019

To / all banks approved ( instructions and standards for the circulation and replacement of
banknotes and counting mechanisms )

Due to non-compliance with the instructions and standards of circulation of banknotes and replace them and the counting and sorting mechanisms, we confirm what came in the letter of the Department of Issuance and Treasury / Department of Banking Follow-up and Compliance / Banking Follow-up Division No. 1470/8/12 dated 2018/4/10, Your banks through the above-mentioned inspection and inspection bodies.   

https://cbi.iq/news/view/1110
 

 

 

Thx Thug....

 

😊

[Synopsis]

HERE is some HCL related information from 4Q2018:

 

 

THEN two (2) DAZE LATER:

 

 

SO.......................................................................................

 

I suspect the RELEVANT HCL ONLY needs to be "reactivated"!!!
 

      

 

We SHALL see!!!

 

Go Moola Nova!

[DinarThug]

7 hours ago, DinarThug said:

The start of the Baghdad delegation meeting with the region

 

 

 

2019/7/25 13:08

 

 

The meeting of the delegation of the Kurdistan Regional Government on Thursday, with a high delegation from the federal government in Arbil to discuss the outstanding issues.
 

The Talabani, Vice President of the Kurdistan Regional Government has received on Wednesday evening, the federal delegation, to discuss the issues of financial budget and the Peshmerga, Kirkuk and Kurdish areas outside the administration of the Kurdistan Region and normalize relations with Baghdad.

It is noteworthy that the delegation of the Baghdad government includes all of the delegation consists of, Faleh Fayyad, Thamer Ghadhban, Oil Minister, Abu Jihad al-Hashemi. "

 

LINK

Baghdad and Erbil announce an important agreement regarding pending files

 

 

 

2019/7/25 21:13

 

 

The Joint High Committee of the Federal Government and the Kurdistan Regional Government met to resolve the outstanding issues between the two governments.

The committee said in a statement received by the {Euphrates News} a copy of it, "under the supervision of the Prime Minister of the Territory and Deputy Prime Minister of the Federal Government for energy to start dialogue on finding just and constitutional solutions to the outstanding issues." 

The statement added that "in a friendly atmosphere of purpose and mutual understanding and a sincere structure was discussed on the core files, especially the {file of disputed areas, the file of financial issues and the budget, and the file of oil and gas}." 

The statement added that "it was agreed to develop practical mechanisms to discuss the details of the outstanding issues through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee."  The statement said that "it was decided at the meeting to continue communication between the parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week."

 

 

###################

 

LINK

Baghdad and Kurdistan agree on mechanisms to resolve the outstanding issues

 

 

25th July, 2019

The Joint Higher Committee of the Federal Government and the Kurdistan Regional Government (KRG) has agreed to resolve the outstanding issues between the two governments under the supervision of the Prime Minister of the Region and the Deputy Prime Minister of the Federal Government for Energy to begin dialogue on finding just and constitutional solutions to outstanding issues. 

According to a statement by the provincial government, "In a friendly atmosphere of mutual understanding and a sincere understanding, the main files were discussed, especially the file of the disputed areas, the file of financial issues, the budget and the file of oil and gas." Through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee." 

It was decided at the meeting to continue communication between the two parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week.

A high-level delegation from the federal government arrived late Wednesday in Erbil, capital of the Kurdistan region, which includes Finance Minister Fuad Hussein, head of the popular crowd Faleh Fayyad, Oil Minister Thamer Ghadhban and the director of the office of Prime Minister Abu Jihad al-Hashemi.  The crisis of oil exports through the territory of the region between the two governments towards a solution, and with the formation of a joint committee with the aim of handing over the province to Baghdad 250 thousand barrels per day.  It is scheduled to witness these meetings to end those details in the presence of the intention of the Kurdish leaders to resolve this problem, which was confirmed by the President of the wisdom of Kurdistan Region pleased Barzani.

[fancy]

13 minutes ago, DinarThug said:

 

LINK

Baghdad and Erbil announce an important agreement regarding pending files

 

 

 

2019/7/25 21:13

 

 

The Joint High Committee of the Federal Government and the Kurdistan Regional Government met to resolve the outstanding issues between the two governments.

The committee said in a statement received by the {Euphrates News} a copy of it, "under the supervision of the Prime Minister of the Territory and Deputy Prime Minister of the Federal Government for energy to start dialogue on finding just and constitutional solutions to the outstanding issues." 

The statement added that "in a friendly atmosphere of purpose and mutual understanding and a sincere structure was discussed on the core files, especially the {file of disputed areas, the file of financial issues and the budget, and the file of oil and gas}." 

The statement added that "it was agreed to develop practical mechanisms to discuss the details of the outstanding issues through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee."  The statement said that "it was decided at the meeting to continue communication between the parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week."

 

 

###################

 

LINK

Baghdad and Kurdistan agree on mechanisms to resolve the outstanding issues

 

 

25th July, 2019

The Joint Higher Committee of the Federal Government and the Kurdistan Regional Government (KRG) has agreed to resolve the outstanding issues between the two governments under the supervision of the Prime Minister of the Region and the Deputy Prime Minister of the Federal Government for Energy to begin dialogue on finding just and constitutional solutions to outstanding issues. 

According to a statement by the provincial government, "In a friendly atmosphere of mutual understanding and a sincere understanding, the main files were discussed, especially the file of the disputed areas, the file of financial issues, the budget and the file of oil and gas." Through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee." 

It was decided at the meeting to continue communication between the two parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week.

A high-level delegation from the federal government arrived late Wednesday in Erbil, capital of the Kurdistan region, which includes Finance Minister Fuad Hussein, head of the popular crowd Faleh Fayyad, Oil Minister Thamer Ghadhban and the director of the office of Prime Minister Abu Jihad al-Hashemi.  The crisis of oil exports through the territory of the region between the two governments towards a solution, and with the formation of a joint committee with the aim of handing over the province to Baghdad 250 thousand barrels per day.  It is scheduled to witness these meetings to end those details in the presence of the intention of the Kurdish leaders to resolve this problem, which was confirmed by the President of the wisdom of Kurdistan Region pleased Barzani.

To quote  "a friendly atmosphere and sincere understanding", come on make it happen August is the month that this will RV. Thanks Tuggie

[Arceo]

That oil and gas file. Sign it up soon 

[DinarThug]

Post From Delta ...

 

 

https://cbi.iq/news/view/1208

Instructions and criteria for circulation and replacement of banknotes and counting mechanisms

 

25th July 2019

To / licensed banks all ( instructions and standards of banknotes trading and replace 
mechanisms and counting ) .. To view , click here

Page 6 ....

For regulatory purposes, banks must commit to notify the Central Bank (24) hours prior to 
e-mail by a date and address treated by local and foreign strong cash. And the organization 
of a special record in the damaged currency, and delivery to this bank and its branches, and 

promote the circulation of pure paper from crumbs years, and provide all branches of the 
bank. D - Incinerators shall deposit the damaged banknotes delivered by their customers or 
from the general public to any quantity, even if the paper is one, to be well sorted and 
actually damaged, and sent with books showing their status and amounts according to the
 atmosphere of the delivery time, , And in the case of the existence of cash to be negotiable in 
your deposits damaged, and large amounts, this is a bank violation to be held accountable by
 the bank, and in order to stimulate banks to take the matter in the purification of damaged
 citizens will not pay this bank for the counting and sorting  of those creations. AD - The 
transferors to review this bank, the issuing department and the cabinets in accordance with
 the attached loan quote, indicating that the period of time of transfer is one basket, which 
shall be renewed upon expiry of the specified period, taking into account the accuracy of the 
test of the converter in terms of severity, Signed by the Director General of the Government 
Banks and the Director-General in respect of the relevant knowledge and the Regional 
Director in respect of the foreign branch or his representative in the event of his absence. 
C - the taste of the cash horizon in the Central House of Iraq - Net end of a special place at
 the beginning of the Central Bank of the authorized banks to review the Department of 
issuance and safes, and the transfer of the existence of checks or execution on the results 
of virginity and sorting allows the Bank's users to see the visual coverage of those who 
cameras cameras for the process of opening The two live accounts in the bank, provided 
that a request is made in an official letter during a type of interlock with the s 2 MODE


-----------------------------------------------------------------------------------------------------------------------

 TRANSLATION ISSUE....

THE RIGHT ONE.... PROMOTE THE CIRCULATION OF THE CURRENCY OF  LOWER CATEGORY NOTE ....

WRONG ONE..... pure paper from crumbs years....


DELTA

 

Edited July 26, 2019 by DinarThug

[DinarThug]

Also From Delta ...

 

 

LINK

International Islamic Bank announces the launch of the Travel Card service

25th July, 2019

The International Islamic Bank launched a new service under the name of travel cards (Travel Card) in the presence of the Governor of the Central Bank of Iraq Ali Alaq and the Association of Iraqi private banks, at the headquarters of the bank

The Governor of the Central Bank, Ali Al-Alak, said in a speech during the ceremony and attended by "Economy News" that "the International Bank surprises us from time to time through the introduction of new banking products to keep abreast of developments in the banking business in all parts of the world," noting today the world is witnessing the so-called revolution The fourth revolution (digital revolution), which is changing the face of the world now in another direction and the banking sector is the first in this revolution, providing speed, accuracy, service and means of analysis and control at work

He added that the Central Bank is focusing today on the replacement of electronic tools to carry out all banking operations and to keep banks from dealing with the customer with a lot of costs and effort previously

He pointed out that "the radical solution to end the talk of corruption within the institutions of the state is the introduction of modern technologies and make them manage operations and remove the citizen from the employee to eliminate the phenomenon of bribery and extortion and other negative aspects

For its part, the Managing Director of the International Islamic Bank Suha Al-Kafai said that the bank launched a specific strategy for four years from the date 2016 2020 coincided with the strategy of the Central Bank in modernizing the banking system and today we announce that we have implemented all our plans for this period to build an Iraqi bank The methodology of scientific development using modern electronic systems to save time, effort and money to beneficiaries of this bank

Al-Kafa'i explained that today we celebrate the release of the travel card (IQD, USD) and the Internet Bank, which is the first of the electronic systems, so that the citizen and the owners of companies and foreign investor can enter his bank account wherever he is in any country and use his account with payment and transfer services, Or a personal computer

She pointed out that "most of the international companies looking for banking services in Iraq equivalent to the owners in the countries of the world have all the protections required from the risks expected to encourage them to enter and invest in the country and today we tell them we provide these services and provides a solid financial environment Organization seeks to contribute to the reconstruction of Iraq Seriously and practically  

BASE ON THIS ARTICLE.....  IQD =ARTICLE VIII 

 

DELTA

[ChuckFinley]

Nice read but would like to see Art 8 published.

[DinarThug]

Ok Bro’s - U Know That U’ve Been Waiting For The Clownie Crayola Version Of This Report !  

 

     

 

 

 

LINK

IMF Executive Board Concludes 2019 Article IV Consultation with Iraq

 

 

July 26, 2019

 

On July 19, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Iraq.

An improved security situation and the recovery in oil prices have improved near-term vulnerabilities. Large fiscal and current account surpluses—around 8 and 6 percent of GDP, respectively—were recorded in 2018, allowing the government to retire domestic debt and accumulate fiscal buffers. Gross international reserves reached $65 billion by end-2018.

However, post-war reconstruction and economic recovery have been slow. Non-oil GDP rose by only 0.8 percent year-on-year in 2018 in a context of weak execution of reconstruction and other public investment. Overall GDP contracted by around 0.6 percent as oil production was cut to comply with the OPEC+ agreement.

The 2019 budget implies a sizable fiscal loosening that will reverse the recent reduction in vulnerabilities.  Current spending is expected to increase by 27 percent year-on-year, in part due to a higher public sector wage bill, while revenues will be dampened by the abolition of non-oil taxes. As a result, the budget is projected to shift to a deficit of 4 percent of GDP in 2019, and reserves are projected to decline.

The fiscal and external positions are expected to continue to deteriorate over the medium term absent policy changes—with reserves falling below adequate levels and fiscal buffers eroded. Although the level of public debt will remain sustainable, gross fiscal financing needs will increase. Non-oil GDP growth is projected to reach 5½ in 2019 but subside over the medium term.

In a context of highly volatile oil prices, the major risk to the outlook is a fall in oil prices which would lower exports and budgetary revenues, leading to an even sharper decline in reserves or higher public debt. Geopolitical tensions, the potential for social unrest in a context of weak public services and lack of progress in combatting corruption pose further risks.

Executive Board Assessment [2]

Executive Directors agreed with the thrust of the staff appraisal. They were encouraged by the recent strengthening of Iraq’s economy but recognized that the country continues to face daunting challenges. Social conditions remain harsh, post-war reconstruction progress is slow, development needs are large, and institutional weaknesses are significant. Volatile oil prices and a difficult regional and geopolitical environment pose additional difficulties. Directors encouraged the authorities to seize the opportunity presented by the improved security situation and higher oil prices to implement policies and structural reforms aimed at ensuring macroeconomic and financial stability, tackling long-standing social problems, and promoting sustainable and inclusive growth.

Directors emphasized that building a robust fiscal framework is essential to maintain fiscal and macroeconomic stability and strengthen buffers. They encouraged the authorities to adopt a risk‑ and rules-based approach to fiscal policy as part of broader reforms to manage oil revenue more effectively, reduce tendencies for procyclicality, and shift to a more growth-friendly composition of expenditure. Directors supported scaling up reconstruction and development expenditure gradually in line with improving absorptive capacity. They underscored the need to strengthen public financial management to ensure public spending is appropriately monitored and to reduce vulnerabilities to corruption. In this context, Directors welcomed the newly adopted General Financial Management Law and encouraged its full implementation.

Directors emphasized that gradual fiscal adjustment, including containing current primary spending and boosting non-oil revenues is essential for maintaining fiscal and debt sustainability. They recommended that spending measures should give priority to containing the growth in wage bill and lowering subsidies to the electricity sector. Directors emphasized that the poorest and the most vulnerable must be protected from the adjustment process.

Directors underscored that an overhaul of the banking sector is necessary to maintain financial stability. They encouraged the authorities to restructure the large state-owned banks, enhance their supervision, and implement other reforms to increase financial intermediation. Directors highlighted the benefits of increasing financial inclusion, especially for the SME sector, which has a large potential to absorb entrants to the labor market.

Directors agreed that building public institutions and enhancing governance is key for success, and highlighted the scope for Fund capacity development to support these efforts. They welcomed progress in developing an anti-corruption framework and called for further modifications to the legal regime for combatting corruption coupled with stronger coordination between the relevant government agencies, while continuing to strengthen the framework for Anti-money laundering and combatting the financing of terrorism (AML/CFT). Directors also recommended strengthening Public Investment Management framework to ensure that spending is well directed and that donor funds targeting reconstruction are put to the most efficient use.

Directors looked forward to continued close engagement between the authorities and the Fund in the context of post program monitoring.

 

Iraq: Selected Economic and Financial Indicators, 2015–24
(Percent of GDP, except were indicated)                   Projections     2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Economic growth and prices                     Real GDP (percentage change) 2.5 15.2 -2.5 -0.6 4.6 5.3 2.6 2.3 2.1 2.1 Non-oil real GDP (percentage change) -14.4 1.3 -0.6 0.8 5.4 5.0 4.1 3.4 2.7 2.7 GDP deflator (percentage change) -26.1 -13.4 14.6 15.4 -4.5 2.3 2.6 2.8 3.1 3.3 GDP per capita (US$) 5,047 4,843 5,263 5,882 5,728 6,017 6,172 6,326 6,486 6,666 GDP (in ID trillion) 207.2 206.7 231.0 265.0 264.8 285.4 300.4 315.9 332.3 350.4 Non-oil GDP (in ID trillion) 137.3 138.3 140.8 145.6 158.1 173.2 188.1 202.8 217.1 232.6 GDP (in US$ billion) 177.7 175.2 195.5 224.2 224.1 241.5 254.1 267.3 281.1 296.5 Oil production (mbpd) 3.72 4.63 4.47 4.41 4.59 4.84 4.93 5.01 5.10 5.18 Oil exports (mbpd) 3.35 3.79 3.80 3.86 4.03 4.25 4.33 4.40 4.47 4.55 Iraq oil export prices (US$ pb) 1/ 45.9 35.6 48.7 65.2 56.0 55.8 54.9 54.4 54.4 54.8 Consumer price inflation (percentage change; end of period) 2.3 -1.5 0.2 -0.1 2.0 2.0 2.0 2.0 2.0 2.0 Consumer price inflation (percentage change; average) 1.4 0.5 0.1 0.4 0.8 2.0 2.0 2.0 2.0 2.0                       National Accounts                     Gross domestic investment 24.9 20.8 16.7 12.9 18.8 16.7 16.0 15.6 15.6 15.4 Of which: public 15.6 11.5 8.3 5.3 10.6 8.4 7.5 7.0 6.8 6.6 Gross domestic consumption 81.2 87.0 80.8 79.1 84.5 85.4 86.8 87.9 88.6 89.6 Of which: public 22.6 22.6 21.8 21.2 26.5 26.3 26.4 26.2 26.2 26.3 Gross national savings 18.4 12.5 18.6 19.8 13.6 12.5 11.7 11.1 10.3 9.4 Of which: public 3.1 -2.0 7.0 13.4 6.5 5.2 4.1 3.2 1.8 0.8 Saving - Investment balance -6.5 -8.3 1.8 6.9 -5.2 -4.2 -4.3 -4.6 -5.3 -6.0                       Public Finance                     Government revenue and grants 30.6 26.8 33.0 39.8 40.5 39.6 37.9 36.5 35.5 34.6 Government oil revenue 27.8 22.9 28.9 36.7 37.2 36.3 34.5 33.1 32.0 31.0 Government non-oil revenue 2.8 4.0 4.2 3.1 3.3 3.3 3.4 3.4 3.5 3.5 Expenditure, of which: 43.4 40.7 34.6 32.0 44.6 43.1 41.2 40.5 40.5 40.5 Current expenditure 27.8 29.3 26.4 26.7 33.9 34.7 33.6 33.5 33.7 33.9 Capital expenditure 15.6 11.5 8.3 5.3 10.6 8.4 7.5 7.0 6.8 6.6 Overall fiscal balance (including grants) -12.8 -13.9 -1.6 7.9 -4.1 -3.5 -3.3 -4.0 -5.0 -5.9 Non-oil primary fiscal balance, accrual basis (percent of non-oil GDP) -46.5 -43.3 -39.4 -42.4 -56.9 -52.1 -49.2 -47.1 -46.2 -45.3 Adjusted Non-oil primary fiscal balance, accrual basis (excl. KRG, percent of non-oil GDP) 2/ -44.7 -43.3 -39.4 -40.5 -50.1 -46.0 -43.6 -41.8 -41.0 -40.2 Adjusted non-oil primary expenditure (excl. KRG, percent of non-oil GDP) 3/ 48.9 49.2 46.3 46.2 55.6 51.5 49.1 47.2 46.3 45.5 Adjusted non-oil primary expenditure (excl. KRG, annual real growth, percent) 3/ -24.7 0.9 -4.5 2.8 29.9 -0.6 1.4 1.6 3.1 3.2                       Memorandum items                     Total government debt (in percent of GDP) 4/ 56.2 64.2 58.9 49.3 51.4 50.5 50.6 51.5 53.6 56.4 Total government debt (in US$ billion) 4/ 99.9 112.5 115.2 110.4 115.3 121.9 128.5 137.5 150.7 167.3 External government debt (in percent of GDP) 37.2 37.1 35.6 30.6 32.2 31.5 30.5 28.4 26.8 24.9 External government debt (in US$ billion) 66.1 65.0 69.5 68.7 72.2 76.2 77.6 75.8 75.3 73.8                       Monetary indicators                     Growth in reserve money -12.0 9.2 -4.4 6.7 2.5 5.4 4.7 4.9 5.1 4.6 Growth in broad money -9.1 7.1 2.6 2.7 2.5 6.2 5.4 6.0 5.9 5.3                       External sector                     Current account -6.5 -8.3 1.8 6.9 -5.2 -4.2 -4.3 -4.6 -5.3 -6.0 Trade balance -0.1 -1.7 7.6 13.4 3.5 4.1 3.2 2.0 1.3 0.5 Exports of goods 31.8 28.6 34.8 41.2 37.0 36.2 34.4 33.1 32.0 31.2 Imports of goods -31.9 -30.3 -27.1 -27.8 -33.5 -32.0 -31.2 -31.1 -30.8 -30.7 Overall external balance -6.7 -3.7 2.5 6.3 -2.5 -1.1 -1.6 -3.5 -3.8 -4.7 Gross reserves (in US$ billion) 54.1 45.5 49.4 64.7 57.2 53.5 48.5 38.8 28.2 14.3 Total GIR (in months of imports of goods and services) 9.3 7.8 7.3 8.0 6.8 6.2 5.5 4.2 2.9 1.4 Exchange rate (dinar per US$; period average) 1,166 1,180 1,182 1,182 1,182 1,182 1,182 1,182 1,182 1,182 Real effective exchange rate (percent change, end of period) 5/ 6.5 1.8 -5.1 4.9 … … … … … … Sources: Iraqi authorities; and Fund staff estimates and projections.
1/ Negative price differential of about $3.6 per barrel compared to the average petroleum spot price (average of Brent, West Texas and Dubai oil prices) in 2018-23.
2/ Adjusted to exclude (i) full year estimates of federal government transfers to the Kurdistan Regional Government, and (ii) non-oil tax revenues from the KRG to the federal government. In 2014 and 2015, actual transfers were made for only 2 and 5 months, respectively.
3/ Adjusted to exclude full year estimate of federal government transfers to the Kurdistan Regional Government. In 2014 and 2015, actual transfers were made for only 2 and 5 months, respectively.

4/ Includes arrears. The debt stock includes legacy arrears to non-Paris Club creditors on which the authorities have requested (but not yet obtained) Paris-Club comparable relief. Implementing comparable terms will substantially reduce debt (e.g. by 15 percent of GDP in 2017).

5/ Positive means appreciation.

                                     

---

[1] Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

[2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities. An explanation of any qualifiers used in summings up can be found here:http://www.imf.org/external/np/sec/misc/qualifiers.htm .

IMF Communications Department

MEDIA RELATIONS

[DinarThug]

14 hours ago, DinarThug said:

Baghdad and Erbil announce an important agreement regarding pending files

 

 

 

2019/7/25 21:13

 

 

The Joint High Committee of the Federal Government and the Kurdistan Regional Government met to resolve the outstanding issues between the two governments.

The committee said in a statement received by the {Euphrates News} a copy of it, "under the supervision of the Prime Minister of the Territory and Deputy Prime Minister of the Federal Government for energy to start dialogue on finding just and constitutional solutions to the outstanding issues." 

The statement added that "in a friendly atmosphere of purpose and mutual understanding and a sincere structure was discussed on the core files, especially the {file of disputed areas, the file of financial issues and the budget, and the file of oil and gas}." 

The statement added that "it was agreed to develop practical mechanisms to discuss the details of the outstanding issues through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee."  The statement said that "it was decided at the meeting to continue communication between the parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week."

 

 

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LINK

Baghdad and Kurdistan agree on mechanisms to resolve the outstanding issues

 

 

25th July, 2019

The Joint Higher Committee of the Federal Government and the Kurdistan Regional Government (KRG) has agreed to resolve the outstanding issues between the two governments under the supervision of the Prime Minister of the Region and the Deputy Prime Minister of the Federal Government for Energy to begin dialogue on finding just and constitutional solutions to outstanding issues. 

According to a statement by the provincial government, "In a friendly atmosphere of mutual understanding and a sincere understanding, the main files were discussed, especially the file of the disputed areas, the file of financial issues, the budget and the file of oil and gas." Through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee." 

It was decided at the meeting to continue communication between the two parties in the direction of finding radical solutions to all constitutional problems outstanding in the interest of all, and is scheduled to meet technical committees in Baghdad next week.

A high-level delegation from the federal government arrived late Wednesday in Erbil, capital of the Kurdistan region, which includes Finance Minister Fuad Hussein, head of the popular crowd Faleh Fayyad, Oil Minister Thamer Ghadhban and the director of the office of Prime Minister Abu Jihad al-Hashemi.  The crisis of oil exports through the territory of the region between the two governments towards a solution, and with the formation of a joint committee with the aim of handing over the province to Baghdad 250 thousand barrels per day.  It is scheduled to witness these meetings to end those details in the presence of the intention of the Kurdish leaders to resolve this problem, which was confirmed by the President of the wisdom of Kurdistan Region pleased Barzani.

 

LINK

A delegation from the Kurdistan region to visit Baghdad .. This is his mission

 

 

 

2019/7/26 18:42

 

 

A member of the Finance Committee of the parliamentary on the upcoming visit to a delegation from the Kurdistan region to the capital Baghdad, to discuss the outstanding issues between the two sides.
 

Committee member Shirwan Mirza said in a press statement that "a technical delegation from the Kurdistan region will visit Baghdad next week, to negotiate details of the outstanding issues between the two sides."  He explained that "the technical committees of the two sides will meet and discuss issues and outstanding issues to solve the problems between the two sides." 

The visit comes at a time when a high-level delegation from the federal government visited Erbil two days ago. The delegation included a representative of the Prime Minister, the Minister of Oil, the Minister of Finance and other officials, during which they met with the officials of the region to discuss outstanding issues between the two sides. It ended the 
joint Higher Committee of the Federal Government and the Government for resolving the outstanding issues between the two governments and the Kurdistan region, issued on Thursday, a statement on the content of the meeting that took place between the two parties in the city of Irbil.

The committee announced in a statement after the meeting, "the agreement on the establishment of practical mechanisms to discuss the details of the outstanding issues through the formation of technical committees of the relevant ministries under the supervision of the Joint High Committee." He explained that "in a friendly atmosphere of purpose and mutual understanding and honest structure, was discussed on the basic files, especially the {file of disputed areas, the file of financial issues and the budget, and the file of oil and gas}." 

It was decided at the meeting to continue communication between the two parties in the direction of finding radical and constitutional solutions to all outstanding problems in the interest of all, and is scheduled to meet technical committees in Baghdad next week.

[DinarThug]

LINK

Document: Finance monitors 453 billion dinars for the Kurdistan account in the Central Bank

 

 

26th July 2019

 

The Ministry of Finance, the amount of 453 billion dinars for the Kurdistan region of the Central Bank of Iraq, to pay the salaries of employees in the region for the month of July.

According to a document issued by the ministry, it was approved by Minister Fouad Hussein on 22 July 2019, according to Article 10 of the Budget Law 2019.

The document does not include any references to the withdrawal of funds equivalent to the value of 250 thousand barrels of oil per day, which prevents Kurdistan from delivery to Baghdad in accordance with the budget law, where government sources indicate that the deduction is made from other expenses away from the salaries of regional staff.

 

[DinarThug]

LINK

Babylon Investment Authority in: the next stage will witness a quantum leap in the investment sector in the province

 

 

25th July, 2019

 

The head of the Babylon Investment Authority Mohammed Jassim Zikm, on Thursday, that one of the priorities of the work plan of the Commission in the next phase is to promote investment opportunities available, noting that promotion is the basis of investment work.

The next stage will witness a renaissance and a qualitative leap in the investment sector, which is to develop the promotional aspect of investment, Zikm said in a statement to the Iraqi News Agency.

He added that he has set up an integrated program for promotion and the investment sector in general, whose objectives are to provide job opportunities in investment projects in various sectors and achieve economic development through supporting the economic side and creating an important investment environment, especially that Babil province is a fertile investment environment attracting international investment.