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Institutional Performance Update !

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Institutional performance update

Sunday 05 July 2020


Yasser Al-Metwally


In the midst of the government's tendencies and within its plan for administrative reform to make possible changes to public administrations in state institutions and replace them with specialized technocrats that fall within the concept of modernizing institutional performance and address the imbalance that has caused the root of corruption and management chaos.

Here we believe that the campaign to change public administrations, especially the failed ones, is not sufficient to achieve improved performance or its modernization. Rather, three essential elements are required which are among the requirements for modernization, namely the modernization of the regulatory and legislative environment, qualification of human resources, and improvement of the work environment.

When that is possible, we can achieve the required administrative reform, and here the performance of the middle staff must be updated according to the position of the right man in the right place.

Focus on important links for any institution, especially in the financial, accounting and legal aspects, and check their information by conducting training and qualification courses and subjecting them to professional tests related to their specializations in coordination with universities, colleges and expert homes, in addition to this, speeding up the modernization of the legislative environment in a way that does not act according to the mood of the departments using the appropriate legislation in view Many laws intersect before and after change and exploit it for personal interests.

The third condition is to provide a clean work environment based on respect for time, good behavior and love of the profession.

There are those who believe that these procedures need time. We say yes and it is, but they are among the basics for achieving institutional performance modernization and proper reform.

We need to establish the content and objectives of governance; Which means good management, and this program can be achieved through the proposed qualification courses.

Here it must be noted that the world's rapid trends towards the digital economy and management governance that require interaction with the digital transformation through the adoption of electronic transactions and the abolition of paper handling and record keeping will be a new challenge for new departments.

It is necessary to pay attention to the fact that this digital transformation will reflect on the volume of employment in state institutions with a negative impact compared to the suspicious unemployment rates that the country suffers from and which escalate directly with the size of universities expansion and the acceptance of all middle school graduates without regard to the rate. Add to this unemployment resulting from the use of e-management .

Here, those who tackle institutional modernization must realize that dependence on the private sector is inevitable to absorb the largest proportion of the unemployed. And perhaps whoever says that this approach is within the responsibility of the sovereign decision-makers, we say yes definitely and my reference only to remind that all public administrations were against this role of the private sector and also hinder its implementation, so I said the new departments should realize this fact to be encouraging, supportive and not hindering the role of the private sector In the future, it is true that this opinion came hastily and crammed into this column, but I preferred to raise it in advance so that the administrations would not be surprised by what matters will lead to in the alphabet of administrative reform in the era of digital development. We return to this topic in later columns.


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On 7/2/2020 at 12:32 PM, DinarThug said:

Parliamentary Integrity announces the preparation of lists to return smuggled money abroad



2nd July, 2020

The Parliamentary Integrity Committee announced today, Thursday, the preparation of lists to recover money smuggled out of Iraq. 

"The committee has a complete list of the smuggled money, containing the names of the people and the funds that are located outside Iraq," said the committee's decision, Abdul Amir Al-Mayahi. 

He added that "Iraq has a lot of money abroad, some of it frozen and the other with dishonest hands." 

He pointed out that "the Corona pandemic prevented the movement of those funds," pointing out that "the Integrity Committee summoned the head of the money recovery department outside Iraq to find out what before and after 2003 of the money, and after the end of the pandemic, the file will be fully followed up."


On 7/3/2020 at 5:56 PM, DinarThug said:

Parliamentary Integrity: We have information about all Iraqi money smuggled abroad, in numbers and names!

Policy  ,   03/07/2020 12:00   



Baghdad - Iraq today:


The Parliamentary Integrity Committee confirmed that it possesses complete information regarding the smuggled funds, pointing out that lists have been prepared to recover these funds from outside Iraq.   

"The committee has a complete list of the smuggled funds, in which the names of the people and the funds are located outside Iraq," the committee's rapporteur, Abdul Amir al-Mayahi said, adding that "Iraq has a lot of money abroad, part of which is frozen and the other is in dishonest hands."  

Al-Mayahi indicated that “the Corona pandemic prevented movement on those funds,” noting that “the Integrity Committee summoned the head of the money recovery department outside of Iraq to find out what before and after 2003 of the funds, and after the end of the pandemic, the file will be fully followed up.”



The Integrity Committee opens the file of looted funds



5th July, 2020

The Parliamentary Integrity Committee spoke, on Sunday, of the file of looted funds.

Member of Parliamentary Integrity Committee Jawad Hamdan promised, "The visits of the Iraqi delegations to the countries of the world are an affirmation of the economic importance of Iraq and its pivotal role in the region and the world, and it promotes economic openness in its Arab and international surroundings." Hamdan pointed out that "Iraq’s important strategic location in the way of trade will contribute to restoring its economic role and strengthening its position among the countries of the region." the parties". Hamdan stressed "the importance of eliminating corruption and working seriously to recover the stolen money and laying down plans to recover this money." 

It is noteworthy that an Iraqi ministerial delegation arrived Friday to Beirut on an official visit that included the two oil ministers, Ihsan Abdul Jabbar and Agriculture Muhammad Al-Khafaji, to discuss issues of common concern, particularly the oil, health and tourism aspects, while there is an upcoming visit of a Lebanese ministerial delegation to Baghdad to complete the talks between the two parties. The final touches of the agreements that took place between the two sides in Beirut. 

Edited by DinarThug
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A deputy defines an order that strengthens Iraq's economic ties

5th July, 2020

A member of the Economic Committee, Nofal Al-Naseen, on Sunday, specified an order that strengthens Iraq's economic relations.

The young man said, "The diplomatic openness by sending political and economic delegations to brotherly and friendly countries will enhance Iraq’s economic relations and increase the volume of trade exchange and facilitate the export of Iraqi agricultural or industrial products to some countries as a trade exchange, which achieves revenue for the budget."

And the youth added, "These visits will reflect positively on our relations with the world, in addition to that they are considered one of the sources of the economic strength of the country that enhances the wheel of the economy and growth, in addition to enhancing the region's political stability."

He pointed out, "The implementation of the government program will support the Iraqi economy, maximize the country's imports and enhance Iraq's international standing, in addition to supporting cultural and commercial exchanges and contributing to enhancing the security of the region by adopting projects of a joint strategy."

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Parliamentary Finance: The government will not submit a budget and is still busy preparing the 2021 budget

09:00 - 05/07/2020


On Sunday, the Parliamentary Finance Committee ruled out that the coming days would witness the submission of the 2020 budget, pointing out that the government is currently busy preparing the 2021 budget.

"The government cannot provide any budget for 2020 with a monthly resource of $ 2.8 billion, at a time when the operational budget needs at least $ 7 billion per month," committee member Jamal Ahmed told Al-Maalouma.

He added that "the government will not be able to provide a budget of 60% of which is a deficit, and therefore it will not submit a budget for the current year, and will remain within the system of 1/12."

Ahmed explained, "The Financial Management Law provides for a budget for the next year at the middle of May, and therefore the government has recognized its preoccupation with the 2021 budget." 

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Trade Bank of Iraq



5th July, 2020

Our valued customers...

The Administration of the Iraqi Trade Bank would like to inform you that the promotion of loans to our employees is reopening their salaries and resuming pre-promoted loans.

So it took note...

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Private banks: The capital of banks operating in Iraq amounted to more than 15 trillion dinars




09:42 - 07/05/2020


The Iraqi Private Banking Association revealed the size of the Iraqi banking sector, as the capital of banks operating inside the country reached more than 15 trillion dinars.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq said in a statement received / information /, a copy of it, that "the data prepared by the Central Bank indicates an increase in the capital of the banking sector to more than 15 trillion dinars." Tariq added, "The banking sector has witnessed a great development during the past years, and was able to increase the volume of lending and deposits in banks, which will positively affect the Iraqi economy, especially after the central bank reduced interest on small and medium projects."

Tareq stressed that "the capital of Iraqi banks reached until the year 2019 more than 15.3 trillion dinars, divided into 3.3 trillion dinars, the capital of government banks, while the capital of private banks amounted to 12 trillion dinars", noting that "deposits in the banking system amounted to 82.1 One trillion dinars, of which 71.38 trillion dinars are in government banks, while in private banks 10.72 trillion dinars.

Tariq pointed out that “cash credit amounted to 42 trillion dinars divided into 34.2 trillion dinars provided by government banks and 7.8 trillion dinars provided by private banks, while pledge credit amounted to 25.2 trillion dinars divided into 17.2 trillion dinars from government banks and 8 trillion dinars from Private banks.” 


He stressed that "bad debts amounted to 4.1 trillion dinars divided into 2.37 trillion dinars in government banks and 1.77 trillion in private banks, and this failure is due to the lack of commitment of borrowers to pay back borrowing money, explaining that the profits of banks during the past year amounted to 1090 billion dinars divided into 956 billion Dinars for government banks and 134 billion dinars for private banks.   


Association of Private Banks: The capital of banks operating in Iraq amounted to more than 15 trillion dinars     LINK

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On 7/3/2020 at 12:19 PM, DinarThug said:

Parliamentary finance explains the reasons for the delay in the payment of salaries

10:08 - 07/03/2020

The Parliamentary Finance Committee clarified the reasons for disbursing the salaries of employees, confirming that the borrowing law and the procedures that followed it caused delayed disbursement.

Member of the Committee, MP Jamal Cougar, told / "The Information", "The government does not have cash to disburse it as salaries for employees, since there were only 3 trillion dinars in the financial treasury."

He added that "Iraq depends on oil to finance the budget by 95.7, as oil imports for June exceeded $ 2.8 billion." And that "Iraq needs 5.5 billion dollars to secure the salaries of its employees every month, which is what called for parliament to legislate the borrowing law in order to overcome the financial deficit."

He explained that "the government instructed to pay salaries since the 18th of each month to reach salaries to ministries, state departments and citizens by the end of the month." This is the last process of borrowing and salaries. 


On 7/2/2020 at 12:01 PM, DinarThug said:

The central bank is likely to exchange employee salaries early next week

09:51 - 02/07/2020

The Central Bank of Iraq, Thursday, likely to pay the salaries of employees at the beginning of next week, while referring to the insurance of employee salaries for the months of July and August and September.

The Director General of Accounting at the Central Bank, Ihsan Shamran, said in a statement reported by the official Iraqi News Agency “Conscious” and viewed by him / the information / that “re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars”, indicating that “the bonds will enable the Ministry of Finance to secure employee salaries For the months of July, August and September.

Shamran added, "The Central Bank made it easy for the Ministry of Finance to process the debt repayment for a period of 10 years," noting that "the Ministry of Finance can receive money from banks."

He suggested, "Paying employees salaries at the beginning of next week," pointing out that "there is a major role for the central bank in facing the current financial crisis." 


On 7/2/2020 at 12:04 PM, DinarThug said:

Central Bank: Re-discounting financial securities to secure salaries for three months


The Central Bank of Iraq announced, today, Thursday, the details of its contribution in the face of the financial crisis, and while confirming the re-deduction of bonds for the Ministry of Finance to secure salaries for a period of three months, it is likely that they will be paid early next week

Ihsan Shamran, Director General of Accounting at the Central Bank, said in an interview with government media, "The central bank has a big role in facing the current financial crisis," stressing "re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars

He added, "These bonds will enable the ministry to secure the salaries of employees for the months of July and August," noting that "the bank has made it easier for the Ministry of Finance to process the debt repayment for a period of 10 years

He pointed out that, "The Ministry of Finance held discussions with the Central Bank and some banks to re-deduct these bonds," noting that "the bank met with the finance and banks and deducted these amounts and deposited them in the Rafidain and Al-Rasheed accounts and the retirement authority

He pointed out, "Depositing 4 trillion and 300 billion dinars in bank accounts since last Wednesday," noting that "the finance can receive money from the banks," and suggested "the payment of staff salaries at the beginning of next week

And that "the central bank stands with the government to support system" rel="">support the public finances from any crisis that it may face," noting that "the size of banks' cooperation is relatively limited except for Rafidain, Al-Rasheed and the Iraqi Bank for Trade

Shamran said, "The financial crisis will ease with the recovery of oil prices and the global economy



Parliamentary Finance: There will be no delay in delivering salaries for the next three months


5th July, 2020


Member of Parliamentary Finance Committee MP Mohammed Al-Darraji confirmed today, Sunday, that the reason for the delay in the salaries of employees (especially after the approval of the borrowing law) will not be the non-transfer of currency, because liquidity is available with the Central Bank and has transferred the required amounts to the main banks and salaries must be released Tomorrow or after it

Daraji said in a statement that there is no validity for the delay in salaries due to the delay in converting the currency, as the central bank makes the daily transfer, and the borrowing law that covers salaries includes (at one of its points) internal borrowing and on the basis of this, the cash liquidity with the central bank has been released to the main banks (Al-Rafidain, Al-Rasheed and TBI). A notification must be received from the Ministry of Finance to the mentioned banks to release the employees’ salaries .. tomorrow or after that, salaries should be received as possible from tomorrow

He explained that "there will not be a problem during the next three months for internal borrowing, and then we look at oil prices and the reform plan that the Finance Minister promised to present


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Al-Diwaniyah Governor is pledging the distribution of employees' salaries upon the arrival of a notice from the Central Bank of Iraq



5th July 2020

Diwaniya Governor Zuhair Ali Al-Shaalan announced the completion of financing the disbursed salaries of state employees in the Diwaniyah governorate from the Ministry of Finance (Education, Health, Agriculture, Governorate Governorate, Labor and Social Affairs, Sports and Youth, Municipalities and Housing) and with the follow-up of the technical assistant head of the Financial and Administrative Department in the Department of Governorate Muhammad Jubouri.

He added in a statement: The financing of the salaries of the employees of the departments related to the state treasury (police, traffic, nationality, border police, civil defense, and irrigation department) has been completed, and with the follow-up of the director of the state treasury, Hazem Al-Badiri.

He confirmed that the salaries of state employees will be distributed immediately upon the arrival of the notice from the Central Bank of Iraq to the Rafidain Bank, on the right side, who will send the accredited tomorrow, Monday to the capital, Baghdad, for that.

He noted that the delay in paying the salaries of state employees occurred in all governorates of Iraq and not one province without the other because of administrative procedures for the central government in Baghdad.

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Border outlets announce achieving financial revenues of more than 150 billion dinars during the past May and June




Economie 7/20/2020 22:40 371     

Baghdad today - Baghdad

The Border Ports Authority announced today, Sunday, the achievement of financial revenues of more than (150) billion Iraqi dinars during the months of May and June of 2020. 

The authority stated in a statement received (Baghdad today), that "last May, the financial revenues obtained from commercial traffic (69,661,724,000) billion dinars, while in June the revenues were (80,830,981,545) billion Iraqi dinars, as there is an increase in the graph for the revenues of June For the month of May, with more than (11) billion Iraqi dinars, this difference was achieved despite the closure of the land ports in front of the commercial movement and travelers with the two neighbors Iran and Kuwait since the middle of last March due to the Corona pandemic, as well as the issuance of a decision to zero the customs duties for food, health and agricultural materials. 

It indicated that it "seeks, in cooperation with the General Authority of Customs and the departments operating in the border outlets, to maximize state revenues and support the federal budget in light of the exceptional financial conditions and to follow scientific and thoughtful plans and strategies to tighten its strict procedures in monitoring, auditing and security investigation on the measures taken to complete customs transactions in accordance with contexts and legal controls And the correct and approved administrative office. "


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Brent crude is expected to reach $ 60 a barrel

4th July, 2020


On Friday, experts at Capital Economics expected that Brent crude prices would rise to $ 60 a barrel by the end of 2022 from their current levels of $ 42.

These expectations come despite the slowdown in demand for crude oil in light of OPEC + cuts.

Experts at the bank indicated that it is likely that oil prices will not rise quickly, and that recovery in demand for crude oil will be slow, especially with the increase in the numbers of infections with the Corona virus again, which may raise concerns about a second wave of the virus

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Al-Nusairi invites the Prime Minister to meet with private banks and address obstacles to their contribution to overcoming the economic crisis


5th July, 2020


The Economic and Banking Adviser to the Association of Iraqi Private Banks, Samir al-Nassiri, called on Sunday, the Prime Minister to meet with Iraqi private banks similar to his meeting with Iraqi businessmen for the purpose of discussing the obstacles to their work and their contribution to overcoming the economic crisis because without a sound and sound banking sector, no sound national economy can be built

Al-Nusairi said in an interview with "Al-Iqtisad News", that "Prime Minister Mustafa Al-Kazemi and the emergency cell for financial reform do not hide the complicated economic conditions and repercussions of the spread of Corona virus, political disputes and conflicts by the political parties and blocs that led to great harm to the national economy and stalled the economic cycle and economic stagnation Added to this are the accumulations and repercussions in the absence of a clear economic approach to previous governments, foggyness, and confusion of vision for real economic reform. And since the banking sector is the main link in the economic process, the current conditions have contributed to stopping the banking activity, especially the private banking activity since the outbreak of the demonstrations in October 2019, and so far, which has had clear effects on the lack of liquidity, low deposits, credit, loans and banking facilities due to the stop of working hours.  During the comprehensive roaming ban for more than 30 days and reducing the permanence and banking activity during the partial curfew, which led to a significant decrease in revenues, despite the many measures taken by the Central Bank in providing several facilities package for banks, including enhancing its liquidity by reducing the percentage of the legal reserve, postponing loan installments, stopping and postponing the imposed fines On the banks

"According to the analysis of official data and statistics, the structure of the Iraqi banking sector consists of 7 government banks that hold 86% of all government and public deposits and 78% of all assets and private banks constitute 70 commercial and Islamic banks and invest 78% of the capital of the Iraqi banking sector and did not get Only on 13% of the total annual profits achieved at the total level and that the goals set for the banking sector in all government programs of previous governments are focused on achieving them is lending for development and considering banks as a lever for development and restoring confidence with the public and achieving financial inclusion in the sense of expansion and spread by providing banking products and services and practicing Real banking and digital transformation of the banking sector

The financial and banking advisor explained, "Through an analytical view of the reality of the Iraqi economy and the challenges facing the financial and monetary policies, in particular the stimulation and revitalization of the economy by bank financing and banking facilities, the above challenges stand in front of its implementation at the present time despite the great efforts made by the Central Bank since 2016 to implement its strategic objectives for the years (2016-2020) which achieved such goals task and key notably developments structural and structural and technical in banks and increase the proportion of comprehensive financial and investment in Ras capital human and walk pace actively towards stability In the monetary system and achieving stability in the exchange rate since 2018 and still remains, however, private banks are in urgent and urgent need of government support by studying their problems in the current circumstance in the emergency cell for financial reform formed in the cabinet for the purpose of saving some private banks from collapse

....Al-Nassiri suggested the following

 First-that the nature of the activities of banks depends on the nature of the activities of the sectors of economic, and as long as the activity of economic is concentrated in the trade (imports) remains the activity of banks concentrated on the conversion external and associated so ..lma unless moving sectors other (industry, agriculture, tourism and others) do not expect the diversity of activity The banker

It is worth noting that without controlling imports, these sectors will not rise, which explains the lack of progress on serious loans through the Central Bank initiative to finance small and medium projects

Second, the legal environment must be provided and the rule of law should be extended in order to eliminate the phenomenon of defaulting in the repayment of loans, as bad debts amounted to (5 trillion dinars) up to 30 June 2020, and they constitute a large percentage of the total credit granted, and thus banks are reluctant to provide loans and facilities. Banking

Therefore, we see that the decisions of the Council of Ministers and the Economic Affairs Committee of the Council of Ministers that were previously issued to support the banking sector, especially private banks, are not activated. It led to obstructing the activities and activities of private banks and greatly affected their liquidity, revenues, and deposits for that, and for the purpose of overcoming the banks crisis, in a way that ensures banks moving from the role of banking to the developmental role and revitalizing banking work in the current circumstance requires the government, in particular the esteemed cabinet and the emergency cell, to activate the decisions previously issued The Council of Ministers and the Economic Affairs Committee are as documented with the following numbers and dates

 Third-activate all the decisions of the Committee Affairs Economic special support banks, special and in particular Mayati

1 ‐ The Ministry of Finance changed its decision not to accept it to open bank accounts for ministries and state departments in private banks and confine them to government banks according to its letter 207 on 31/1/2019

2 ‐ Activate the decision to allow ministries and government departments to open documentary credits in private banks up to $ 50 million without going through the Ministry of Finance and the Iraqi Trade Bank

3-Activating Resolution Council of Ministers No. 110 of 2009 and the decision of the Committee on Economic Affairs on 2012 141/2/20 concerning the conversion of government documentary banking up to 30 credits million dollars to private banks through the Trade Bank of Iraq

4-Activating the decision of the Committee on Affairs of Economic No. 253 of the year 2015. Regarding theacceptance of sukuk certified by private banks to pay insurance, customs fees and taxes

Fourth-activating decision Council of Ministers No. 378 of the year 2018 and the special levy fees of government in the departments of State of through payment mail

Fifthly: Activating the Financial Services Court formed in accordance with the Central Bank Law 56 of 2004, and the Court may refer cases that require referral to the competent courts in accordance with the applicable penal law

VI consider claims of debt distressed owed by customers in the banks own lawsuits urgent debts excellent like government debt

VII. Add to Mai PEOPLE by Bank Central of efforts requires the government is also working to provide conditions and take measures to help banks own to obtain the classification of credit approved internationally and thus enhance relations banking international with correspondent banks

Eighth - The Ministry of Finance compensated for the damage in the fixed and cash assets lost by the branches of private banks, which amounted to (37) branches in the governorates occupied by ISIS in 2014 and is documented by the Central Bank of Iraq

IX- activating the decisions of the Council of Ministers No. 313 of 2016 and No. 218 of 2017 and private employees' salaries and settling demand from government departments to settle their salaries according to their desire and directing them not to settle salaries in government banks exclusively

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Parliamentary Economy: Border crossing revenue is $ 10 billion annually, of which only one billion is earned


4th July 2020

Member of the Parliamentary Economy and Investment Committee Mazen Al-Faili said on Saturday that the border outlets in Iraq achieve annual financial revenues of $ 10 billion, but only one billion are earned

Al-Faili said in a statement received by "Al-Iqtisad News", "We stress the government taking quick steps and effective measures in collecting the revenues of the outlets, whose realistic amount is at least ten billion dollars at least annually, but it is actually obtained not to exceed one billion dollars

He pointed out that "finding solutions for this economic facility is not limited to providing significant and important revenues that revive the public budget only, but also contributes to the revitalization of the industrial and agricultural sector and the protection of the national product and what is required by providing additional job opportunities for Iraqi youth and stopping the flow of hard currency to import these materials, not to mention the fact that the government's success In imposing the rule of law on the outlets, it will restore confidence in the rest of the state’s institutions and departments and motivate them to adopt firm oversight activities in the face of corruption and corrupt people in various state locations

In this regard, Al-Fili proposed a set of mechanisms and steps, the most important of which are

1- Adopting governance (the electronic system for collecting customs duties) in a comprehensive management of all outlets, to ensure accurate control and responsible follow-up in the full payment of revenues

2- Subjecting all ports to the administration of the Federal Authority

3- Appointing an honest and efficient field administration

Each outlet and supports the deployment of elite security forces that protect their sound decisions and block the way for any groups that interfere with the work of the ports and their revenues

4- Close the unlicensed ports and crossings that operate outside the control of the state and the law

5- Reconsidering granting exemptions from customs, as regulatory reports indicate that they are exploited by persons and entities not legally covered, and exemptions are supposed to reduce to the maximum extent possible, and that customs duties are met by everyone in the outlets and after verification in the center of the validity of their inclusion in the exemption The statutory return for them with the percentage of customs fees withheld

6- That the process of payment of imported goods' duties, fees and taxes be completed upon the contracting process or when merchants purchase hard currency from the currency auction to reach these goods to the outlet and they meet all of their conditions

7- Regulating import licenses and matching them with incoming goods and commodities in order to prevent tampering with the quality of goods or exchanging them in customs fee transactions, which leads to a reduction in the fees imposed on them

8- Connecting all outlets to a national control center in Baghdad by means of a camera system that covers the work and activity of employees in the outlets to detect any tampering with the passage of goods


Parliamentary Economy: Ports revenue 10 billion dollars, only 1 billion received    LINK

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Parliamentary Finance Committee: No delay after today in the distribution of salaries to state employees

22:27 - 05/07/2020

The Parliamentary Finance Committee affirmed on Sunday that there is no delay in distributing salaries to state employees after today.

A member of the Parliamentary Finance Committee, MP Ahmad Mazhar al-Jubouri, said in an interview with "Information", that "multiple reasons contributed collectively to the delay in paying the salaries of Iraqi state employees and their retirees during the past days, despite the approval of the law on internal and external borrowing, which provided flexibility for the government to pay salaries."

Al-Jubouri added, “The delay in paying the salaries of June will be the last, and for the rest of the months, salaries will be paid and disbursed within normal times without any delay. We assure the public opinion that the state is obligated to pay salaries to all employees within the approved timings.”

The government was late in tightening and paying the salaries for the month of June, which raised public concern, despite the approval of the internal and external borrowing law. 

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The International Trust Bank: Localization Of Defense And Interior Salaries Has Strengthened Services



5th July, 2020

The International Islamic Trust Bank revealed an expansion mechanism for the services it provides to the public, especially after the salary settlement base of employees of the Ministry of Defense and the Interior expanded.

"The salary settlement base has grown in the presence of the security system represented by employees of the Ministry of Defense and Interior, which pushed the bank to provide global services and adopt them in a phased manner commensurate with the sacrifices of the security forces," said Maaran, the managing director of the bank, Wehbe Al-Khaffaf.

Al-Khaffaf pointed out that "the expansion of products represents the most important objective of the bank during the next stage, which coincides with a plan that enables human resources to develop the sophisticated systems witnessed by the financial sector in the world."

He pointed out that "the bank provides services through 13 branches distributed between Baghdad and the provinces, pointing out that despite the challenges facing the country, the bank provides its services, taking into account the directions of the crisis cell."

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For not tying Iraq with debt .. A representative committee calls for the approval of this budget

For not tying Iraq with debt .. A representative committee calls for the approval of this budget
7/5/2020 20:59:11

A member of the Committee for Monitoring the Implementation of the Government Program and Strategic Planning, Inaam Al-Khuzai, called for financial adjustment in light of fluctuations in oil prices and the continuation of the Corona pandemic.

Al-Khuza’i said in a statement, {the Euphrates News} received a copy of, that “although the Financial Management Law No. (6) for the year 2019 in Article (13) / third, in the event that the Federal Budget Bill has not been approved for a specific fiscal year, the final financial statements are For the previous year, a basis for the financial statements for this year was submitted to the House of Representatives for the purpose of approval," noting that "of course this does not fit the financial and economic reality that Iraq currently lives due to the Corona pandemic and the collapse of oil prices."

And she warned of "approving the disbursement (1/12) of the 2019 budget due to insufficient oil revenues necessary to finance public expenditures, and the Ministry of Finance recently issued a report on the rate of public expenditures and revenues until April 2020," noting that "the report discloses that the total expenses were (22,564) One trillion dinars during the first four months of the year, which means that the monthly rate of spending is approximately (5.5) trillion dinars, while Iraq achieved total revenues of (22,571) trillion dinars.

Al-Khuza’i indicated, “In light of the oil revenues accrued last June (approximately 3.5) trillion dinars, the fiscal deficit is expected to be approximately (2) trillion dinars only, which means that Iraq’s need for internal borrowing will not exceed (12) trillion dinars during the months The rest of the year 2020 instead of (15) trillion dinars proposed by the government as an internal borrowing to finance the deficit. According to all available data to Khuzai it called "the government 's commitment to the adoption of the monthly budget for fiscal adjustment with fluctuations in oil prices on the one hand and not burdening the economy and the citizens of internal and external debts is required on the other hand." 
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The Foreign Ministry of the Arab-Chinese Forum: The government is working hard to provide safe legislative frameworks for investments

The Foreign Ministry of the Arab-Chinese Forum: The government is working hard to provide safe legislative frameworks for investments
7/6/2020 18:08:27
The Foreign Ministry assured the Arab-Chinese Cooperation Forum that the government is working hard to provide safe legislative frameworks for investments.


This came during the participation of the Senior Undersecretary of the Ministry of Foreign Affairs, Ambassador Abdul Karim Hashem, representative of Iraq at the Arab-Chinese Cooperation Forum / the ninth session via video conferencing technology today, Monday.
Hashem said in a statement, {Euphrates News} received a copy of it, that “the holding of this forum under exceptional circumstances expresses the insistence of the participating countries to activate Arab-Chinese relations in various fields, and frame them with the frameworks of the comprehensive strategic partnership with China.” 
He affirmed that "China is the most effective international partner to the Arab world, due to its positive stances towards Arab issues, especially the question of Palestine." Important from its paths." Hashem expressed "Iraq's aspiration for this forum to come out with mechanisms for cooperation in the fields of economy and cross-regional investment in the field of infrastructure, and to achieve integration through networks of roads and transportation to overcome difficulties and reduce time, and thus reduce the cost."

In the economic field, the agent noted, "Iraq seeks to encourage investment companies to enter the Iraqi market, revealing that the government is working hard to provide safe legislative frameworks for investments. The agent concluded by praising China's initiative (the road and belt) that it came to be a platform for a growing number of countries, and a forum to unify efforts towards coordination, and unify positions to find new mechanisms for international economic government that is more just through the establishment of a new international economic order more favorable to the economies of these.
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Parliamentary economics reveals the reason for delaying the payment of salaries and confirms securing external loan funds

16:56 - 06/07/2020


The Parliamentary Economy and Investment Committee revealed, Monday, the reason for delaying the payment of employee salaries despite the vote on the law on external and internal borrowing, while stressing the security of funds related to external loans.

A committee member, Mithaq Al-Hamedi, said in a statement to / Information /, that “external loan funds have been secured, but the Ministry of Finance is facing a problem in the absence of cash liquidity against the dollar to convert loan funds into salaries.” Noting that “the central bank is facing a problem in securing Iraqi funds in exchange The dollar.”

She added that "the transfer of money from the dollar to the dinar is the reason for delaying the exchange of employee salaries, as this problem will be resolved this week," noting that "the central bank informed Parliament of its inability to print the money because the currency is collapsing."

And the Parliamentary Finance Committee announced, last Thursday, its refusal to hand over the salaries of the employee for every 40 days, while external loans indicated the need for international ratifications and the salaries were secured for three months. 

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Al-Rafidain: The coming hours will witness the distribution of the salaries of all employees

14:20 - 06/07/2020

Rafidain Bank confirmed, on Monday, the arrival of financing for employee salaries for the month of June, indicating that the coming hours will witness the completion of the distribution of employee salaries.

"The failure to deliver salaries on time, due to the lack of financial revenues and the implications of the Corona virus," said Medal of the Rafidain Bank, Wissam Mohamed, in a statement to \ Information.

Muhammad added, "The Rafidain Bank is subject to the Ministry of Finance and we are awaiting financing and notification to pay the salaries of employees, and that the lack of revenues and the consequences of the Corona pandemic have affected the delivery of salaries on time."

He explained, "We have nothing to do with delaying the salaries of the employees. We are an executive body affiliated with the Ministry of Finance," stressing that "the salaries of the retirees were disbursed yesterday and some departments will distribute the salaries to them today."
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Parliamentary Finance: The salaries of the coming months will be paid on time for these reasons




13:20 - 06/07/2020

The Parliamentary Finance Committee confirmed, on Monday, that the salaries of employees and retirees for the coming months have been secured and will be paid by the indicative dates for each state institution, stating that the application of a single salary system and the abolition of multiple salaries need time.  
Cougar pointed out that "the process of completing the prohibition of paying salaries is time-consuming, as the first step that is currently taking place within each ministry and the other step will take place intersecting with all ministries and government institutions to detect duplication."  Member of the Committee, Representative Jamal Cougar, said in a statement to "Information", that "the delay in the salaries of the month of June was due to the lack of cash liquidity with the public treasury, as well as because of some ministries busy busy examining the double salaries and space." 


He added that "the salaries of the coming months will be paid smoothly and without changing the dates of state institutions for a number of reasons, including the liquidation of cash after financial reforms were carried out and oil prices recovered, as well as the government's freedom of internal borrowing after the parliament voted to allow borrowing."
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