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Banks: We are waiting for a notification from the Finance Ministry to launch salaries within 24 hours


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Sunday, June 28, 2020 

 

Banks: We are waiting for a notification from the Finance Ministry to launch salaries within 24 hours

Kurdistan salaries
 
 

 

A source at the Ministry of Finance revealed on Sunday that government banks are awaiting a notice to release the salaries for the employees of the month of June.
The source said that it is hoped that the notice will reach the banks to launch and pay salaries within the next 24 hours.
Yesterday, Saturday, the Prime Minister, Mustafa Al-Kazemi, directed the Ministry of Finance to expel the salaries of employees.
The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices due to the Corona pandemic, which has paralyzed large sectors of the world economy. The country relies on revenue from the sale of crude to finance 95 percent of the country's expenditures.
And Finance Minister Ali Allawi, had warned in statements, on Wednesday, that the Iraqi economy may face "shocks that it will not be able to deal with" unless reform measures are adopted in less than a year, stressing that 40 million Iraqis will have to submit to a tight austerity policy It may last "two years".
Projections indicate that the Iraqi economy will face a 10 percent contraction during the year.
With one out of every five Iraqis receiving government aid, the bill becomes heavier for the country that depends on paying all its expenditures on oil sales revenue.
And at the beginning of this month, when pensions were deducted in the first steps of the government austerity policy, the protest was unanimous against Allawi and Prime Minister Mustafa Al-Kazemi, even within the parliament that is usually mandated to approve reforms, especially the fight against corruption that led to the evaporation of more than 450 billion Dollars of public money since 2003.
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Banks: We are waiting for a notification from the Finance Ministry to launch salaries within 24 hours  by Mary B

Thanks for posting this article Mary B ... Have a great Sunday ... RON :twothumbs:

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Meeting between Al-Kazemi and the Minister of Finance .. and guidance on June salaries

2020-06-28
money1.jpg?resize=696%2C379&ssl=1

Yassin Iraq: Baghdad

Mustafa Al-Kazemi, Prime Minister, directed the Ministry of Finance to expel the salaries of employees.
The media office of Al-Kazemi said in a statement that "Iraq has received" a copy of it, "This came at a meeting of Al-Kazemi, today, Saturday, with the Minister of Finance, Ali Abdul-Amir Allawi."

According to the statement, Al-Kazemi stressed that “the launch takes place without delay, and that the Ministry works with all its capabilities to put the solutions that were discussed into implementation, and that the government apparatus continues to maximize non-oil revenues and find financial cover for employee salaries.”

The Prime Minister stressed during the meeting that "the current financial crisis constitutes an opportunity to face the challenge of implementing financial and administrative reform, and that the government has resolved to proceed with this reform until it is positively reflected on economic development, and the provision of welfare and good governance to all Iraqis."

https://yesiraq.com/اجتماع-بين-الكاظمي-ووزير-المالية-وتوج/

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8 minutes ago, Mary B said:

implementing financial and administrative reform, and that the government has resolved to proceed with this reform until it is positively reflected on economic

implementing financial reform to proceed - (I like the sound of this)

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What is the last payment of employee salaries despite the directing of Al-Kazemi? Parliamentary Finance made a comment

43514.jpg?watermark=4

http://iraqtoday.com/ar/news/42654/ما-الذي-اخر-صرف-رواتب-الموظفين-رغم-توجيه-الكاظمي-المالية-النيابية-تدلي-بتعليق?latest

 

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Policy  ,   2020/06/28 22:22   , Number of readings: 342

Baghdad - Iraq today:

The Finance Committee in the House of Representatives commented, on Sunday (28 June 2020), on delaying the payment of salaries of Iraqi state employees, despite the directive of Prime Minister Mustafa Al-Kazemi, to expedite the disbursement.

The committee's rapporteur, Ahmed Saffar, said: "We do not know the real reasons that delay the payment of employee salaries until today, especially we in the parliament have worked to expedite the passage of the internal and external borrowing law, for the purpose of expediting the issue of salaries."

Al-Saffar said that "upon the approval of the law, we put an important paragraph in it, which is that the law is in effect since its adoption, without waiting for its publication in the official gazette." In passing the law hastily. "

The Prime Minister, Mustafa Al-Kazemi, directed yesterday evening Saturday to speed up the distribution of employees' salaries.

A statement issued by Al-Kazemi said that he directed the Prime Minister, Mustafa Al-Kazemi, the Ministry of Finance, to launch the salaries of employees, during a meeting today, Saturday, with the Minister of Finance, Mr. Ali Abdul Amir Allawi.

The statement added that "Al-Kazemi stressed that the launch takes place without delay, and that the Ministry work with all its capabilities to put the solutions that were discussed into implementation, and that the government apparatus continues to maximize non-oil revenues and find financial cover for employee salaries."  

He continued, "The Prime Minister affirmed during the meeting that the current financial crisis constitutes an opportunity to face the challenge of implementing financial and administrative reform, and that the government has resolved to proceed with this reform until it is positively reflected on economic development, and the provision of welfare and good governance to all Iraqis."

 

 

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2 hours ago, Mary B said:

Meeting between Al-Kazemi and the Minister of Finance .. and guidance on June salaries

2020-06-28
money1.jpg?resize=696%2C379&ssl=1

Yl

Happy pay day ! Here is your 200.90 dollars for 1 month..

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Al-Attar: The industrial sector is a major tributary and alternative to oil

 29/06/2020

 
image
 
 

 

BAGHDAD - The balance of News
called for a council member of the Iraqi Economic Ghadir Attar, on Monday, the start of the Iraqi government activate the industrial sector in the country because of its many positive effects and supplement the general budget of financial resources. "
Said Attar , in a statement received / scales News / copy of it," The industrial sector has a significant impact on the budget of Iraq, a major impact, noting that "Iraq is one of the most prominent countries that have relied on the auto industry, machinery, oil derivatives and food industry, such as dairy products and vegetable oil industry to achieve self-sufficiency."
Al-Attar added: "In order to restore life to the Iraqi industry, there are a set of steps that revitalize the industrial economy in Iraq, including setting a budget to restore factories and employ the unemployed, which contributes to reducing unemployment, in addition to developing machinery and work mechanisms to compete with the imported product and to be close to it in quality as well." On planning and rebuilding the Ministry of Industry, receiving projects from youth, opening the door to competition and bidding among local factories, and encouraging young people to support the local product.
Al-Attar indicated that "Iraqi industry can be a major tributary or alternative to oil in the near future to provide financial resources for the general budget." Ended 29

 

https://www.mawazin.net/Details.aspx?jimare=107487

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Parliamentary finance shows the reason for delaying the payment of salaries for the month of June

 29/06/2020
 
  
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Information / Baghdad ..
The Parliamentary Finance Committee attributed, on Monday, the delay in the disbursement of employee salaries and grants for the month of June to the lack of cash liquidity, explaining that the reason for this is due to the failure of the amount borrowed from local banks to the state treasury recently approved by Parliament.
Member of the Committee, Representative Jamal Cougar, said in a statement to "Information", that "the delay in the process of disbursing salaries and grants for the month of June is due to the absence of cash at the public treasury."
He added that “the main reason for the delay in salaries is the delay in receiving financial loans from local banks that Parliament allowed the government to borrow on paying salaries”, stressing that “the coming days will be the salaries paid to those who are entitled to them.”
Cougar pointed out that "the amounts of internal loans will suffice to pay salaries between four and five months and the government must urgently undertake financial reforms to avoid dumping the state treasury with internal or external debts." Ended in / 25 pm

https://www.almaalomah.com/2020/06/29/482375/

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The  lack of cash liquidity  ! 

Please let me think here , --------------

I believe if you give dinarv a 1 to 1  ratio  , the cash would flow quite  readily  ...

( I need an aspirin  , that made my head hurt )😅

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Parliamentary finance is surprised by the non-payment of employees salaries despite the provision of liquidity

Editing Date: 6/29/2020 19:3862 times read
Parliamentary finance is surprised by the non-payment of employees salaries despite the provision of liquidity
Ayna News - Baghdad

Member of Parliamentary Finance Committee MP Ahmad Al-Saffar confirmed on Monday that the reasons for delaying the salaries of state employees are unknown to the committee despite the availability of funds in Iraqi banks.

Al-Saffar said, "It is assumed that the salary payment instruction should start since the passage of the internal and external borrowing law because the law is in effect from the time of formal voting in Parliament, in addition to that there is an official directive from the government to the Ministry of Finance to expedite the disbursement."

He added, "The financial liquidity is in the banks, but we do not yet know why the Ministry of Finance was late in spending it," expressing his hope to "expedite the payment of salaries at the earliest opportunity possible, especially as millions depend on them for their livelihoods."

The House of Representatives was closer last Wednesday to the internal and external borrowing law to give more room to the government to secure the payment of salaries to state employees.
 
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On 6/28/2020 at 11:44 AM, DWS112 said:

implementing financial reform to proceed - (I like the sound of this)

 

Why are they making such a big deal about giving people their salaries?

Do you think the salaries might be at a new rate, DWS112?

 

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Despite the reassurances, apprehension about the delay in salaries turns into a "political stick" surrounding the government ... the funds are "available", but!

 

http://iraqtoday.com/news/42682/رغم-التطمينات--توجس-من-تأخير-الرواتب-يتحول-لـعصا-سياسية-تحاصر-الحكومة-الأموال-متوفرة-ولكن

Policy  ,   2020/06/30 00:20   , Number of readings: 483

Baghdad - Iraq today: In

spite of the continuous assurances by the government about the fate of the employees ’salaries, especially after the parliament voted on a decision that allows the government to borrow, the signs of salary delay are beginning to appear and employees feel, while the crisis may begin to turn into a" political stick "that is being waved against Al-Kazemi’s government.

Some tweets on social media began to shed light on salary delays, while some used them as a "political stick" to brand them against the Al-Kazemi government.

On the political level, considered the leader of the coalition of state law Nuri al-Maliki, that the funds are available with the government, but it was late to spend it to employees.

Al-Maliki said in a tweet that "after the issuance of the borrowing law, the government has an opportunity to borrow from the central bank and other banks," noting that "this means that the required funds are available to disburse the citizens' salaries that are overdue while they are in financial and health distress."

He called "the government and the concerned ministry not to disrupt salaries and expedite the payment of them to citizens without delay."

Why are salaries delayed?

And revealed the decision of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, a problem that delayed the distribution of employee salaries, while stressing the direction to solve it.

Al-Saffar said, in press statements, that "the government is obligated to distribute the salaries of employees as soon as possible, and the salaries are late and the government feels the conditions of people, and it is necessary to find a specific mechanism for the delivery of salaries, whether in relative terms, or to specify specific days for the distribution of salaries."

He pointed out that "Parliament agreed to borrow from banks for the salaries of employees," noting that "the problem of delay is the availability of financial liquidity, but it will be resolved."

What is the problem?

For his part, the independent deputy in the Iraqi parliament, Muhammad Shi'a Al-Sudani, announced that the employees ’salaries are guaranteed for the next six months.

"Our financial problems are represented by the multiplicity of accounts. For example, some time ago from now, there was a billion dollars in the sumo company account, and this amount was spent to pay salaries," Al-Sudani said.

Al-Sudani indicated that there is a "round account for ministries that have not spent their budgets, investment plans and projects, and these are all controlled." He added that when collecting all these accounts "we have more than this amount, and for this I say there is no problem with the issue of employee salaries during these six months and you will be insured with the obtaining of the loan."

Al-Kazemi directs the disbursement of salaries and

Al-Kazemi stressed in a meeting with the Minister of Finance, Ali Abdel Amir Allawi, the release of salaries without delay, and that the Ministry work with all its capabilities to put the solutions that were discussed into practice, stressing that the government apparatus is continuing to maximize non-oil revenues and find financial cover for salaries employees.

He pointed out that "the current financial crisis constitutes an opportunity to face the challenge of implementing financial and administrative reform, and that the government has resolved to proceed with this reform until it is positively reflected on economic development, and the provision of welfare and good governance to all Iraqis."

Iraq relies on oil sales revenue to finance 95 percent of the country's expenditures, but the country has lost about $ 11 billion since the beginning of this year, due to lower oil prices, according to data from the Iraqi Oil Ministry.

 

 

 

 

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7 minutes ago, DWS112 said:

Who knows FL. Maybe they are stalling for July 1st for everything.


That’s my take. Lower denoms starting third quarter. Would be a totally different scale.  Hoping to see articles educating the masses Wednesday.  
 

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Rashid Bank launches a payment from the predecessor of the Nakheel Master Card

841144-50d533d7-afa3-4d10-8918-dbf1de10b
Baghdad / Nina / Al-Rashid Bank announced the launch of a new payment from the predecessor of the Nakheel Master Card to employees of the endemic state departments, their salaries with the bank.

The bank said in a statement that the Iraqi National News Agency ( NINA ) received a copy of it, that it began paying the advances electronically on 6/22/2020 for a large number of employees whose transactions were granted to them above.

He added: Employees can receive advances from one of our branches located in Baghdad and the provinces, or from one of the accredited Nakheel Mastercard offices, if they receive a notification letter of downloading the advance amount. / End 3
 
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