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The Government Begins Implementing The Steps Of The White Paper And Parliament Welcomes !


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On 6/18/2020 at 1:05 AM, DinarThug said:

CNN -  <  <  BREAKING CBI GOVERNOR NEWS  >  >  .......

 

 

LINK

By documents .. Al-Kazemi decides to keep Al-Fayyad and Al-Alaq in their posts


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18th June, 2020

 

Prime Minister Mustafa Al-Kazemi decided, on Wednesday, to keep the head of the Popular Mobilization Authority, Faleh Al-Fayyad, the governor of the Central Bank, Ali Al-Alaq, and the director of the retirement board, Ahmed Abdul-Jalil, to continue working in their positions.
 

According to documents issued by Al-Kazemi’s office obtained by Al-Akhbariya, according to the approval of the Prime Minister, it was decided to continue assigning Faleh Al-Fayyad to continue running the affairs of the Presidency of the Popular Mobilization Authority.

In a separate document, it was also decided, and will continue, on the relationship to manage the affairs of the Governor of the Central Bank, as stated in another document, which decided to continue assigning Ahmed Abdel Jalil to conduct the affairs of the retirement board. 


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On 6/18/2020 at 1:17 AM, DinarThug said:

Comments By Delta .......

I DID READ THE DOCUMENTS IN ARABIC ...ALAQ WILL STAY AND WILL HAVE THE FULL POWER OF CBI... BUT ONLY UNTIL000068medium_gif07/15/20..........LIKE I SAID ON THE PAST CC.........THEY NEED HIM UNTIL RI IS DONE.....SO IMO.......RI SHOULD TAKE PLACE IN BETWEEN ........AMAZING......GAME OVER...smallest-imo_jpg

 

DELTA

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2 hours ago, screwball said:

so if i read this and above articles they have 60 days to implement first stage which includes border control and changes to auctions? whens the sixty days up?


And Not That The Iraqi’s Have Ever Paid Attention To A So Called ‘Deadline’ - To Them, I’m Not Even Sure If It’s Even Viewed As A ‘Suggestion’...

 

 

But This Wednesday Is July 15th When The CBI Governor’s Extension Is ‘Supposedly’ Up ...
 

 

So We’ll See If Anything Occurs This Week With That ...
 

:D  :D  :D 
 

Edited by DinarThug
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C’mon Iraq - Hurry Up And Raise The Value Of Ur Damn Currency ! :o 
 

 

Ur No Longer Gonna Be Able To Sponge Off Of Ur Neighbors ...

 

:D  :D  :D 

 

 

LINK

Kuwait needs to borrow 65 billion dollars to finance the
budget deficit

 

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18:19 - 12/07/2020
 

Kuwaiti parliamentarian Safaa al-Hashem said the government has asked to be allowed to borrow 20 billion dinars (65 billion dollars) over thirty years, including 8 billion to finance the current budget deficit.

Al-Hashem, who heads the Finance and Economic Committee in the Kuwaiti parliament, came after a meeting with government officials from the Ministry of Finance and the General Investment Authority.


She said in Parliament: "The Public Debt Law ... you are requesting 20 billion (dinars) for the next thirty years, eight billion out of twenty to pay the current budget deficit," addressed her words to the prime minister who was not present.

It should be noted that the Kuwaiti MP, Adnan Abdul Samad, revealed a few days ago that there is a consensus with the Kuwaiti Ministry of Finance to reduce the budget submitted to the National Assembly (Parliament) by 20%. 

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3 hours ago, DinarThug said:

Kuwait needs to borrow 65 billion dollars to finance the budget deficit
 

 

18 minutes ago, pacmen said:

65 Billion USD Divide by 20 Billion IQD = 3.25 USD Exchange Rate....Just Saying ?

 

Sorry For The Confusion PacMen ! ;) 

 

 

But It Was Their Wealthy Neighbor ‘Kuwait’ With The $3.25 Rate That Needs To Borrow The Money And Not Iraq ! :o 

 

:D  :D  :D 
 

Edited by DinarThug
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The central bank participates in the Bani platform

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13th July, 2020

 

The Central Bank of Iraq announced, Monday, that it will organize and in cooperation with the Arab Monetary Fund this morning, a workshop for banks operating in Iraq to participate in the "structures" platform for Arab payments

The bank added in a statement, "Economy News" received a copy of it, "This comes after the announcement of the launch of a platform for Arab payments of the Regional Corporation for the clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund, and preparations are made for this bank and a number of local banks for direct participation in Platform

The statement pointed out, that "the workshop will discuss the work of the proposed plansof banks and address the technical requirements and the steps required to ensurethat facilitate linking them to see how the platform and the readiness of banks to it

That the "platform built represents a multi - currency payment platform provides clearing services and settlement currencies Arab and international currencies in which the eligibility requirements are available, for clearing and settlement of financial transactions intra - Arab as well as financial transactions between the Arab countries and trading partners presidents of Arab countries

He continued: "The platform also aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Beni platform provides the participants with payment solutions Hadith conforms to international standards, principles and international compliance requirements

Showed that, "In the economic and financial integration opportunities in the Arab region , it is where it effectively contributes to support investment ties with Arab countries in various continents trading partners.  It will be the platform available to all banks that meet the criteria and conditions for participation, and in the forefront of standards and procedures Compliance aspects

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Al-Kazemi provides two justifications for not sending the budget and parliamentary finance

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13th July, 2020

 

The Parliamentary Finance Committee announced, on Monday, its refusal to continue approving huge budgets without reviewing the final accounts for the year 2020, while it revealed the reasons for not sending the draft budget law for the year 2020 to the House of Representatives

"The Iraqi government does not want to send a draft budget bill for the year 2020 to the House of Representatives," committee member Jamal Cougar said in a press statement

Cougar added, “When we inquired from the Prime Minister, we were informed of our unconvincing matter, the first related to the Financial Management Law and secondly to the total financial deficit, which amounted to more than 65% of the budget

He pointed out that "the Iraqi government began preparing the budget of 2021 according to the Prime Minister's speech to the members of the Finance Committee," pointing out that his committee "refuses to start approving the budget of 2021 without reviewing the final accounts for the year 2020 after study and audit

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

Al-Kazemi provides two justifications for not sending the budget and parliamentary finance    LINK 

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8 hours ago, DinarThug said:

 

 

Sorry For The Confusion PacMen ! ;) 

 

 

But It Was Their Wealthy Neighbor ‘Kuwait’ With The $3.25 Rate That Needs To Borrow The Money And Not Iraq ! :o 

 

:D  :D  :D 
 

Oops...I seen that...I tried to Edit my Comment  @ the last Minute  😁😁

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pacmen

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1 hour ago, pacmen said:

Oops...I seen that...I tried to Edit my Comment  @ the last Minute  😁😁

 

Ya - U PacMen Are Usually Pretty Good At ‘Deleting’ Stuff ! :o 

 

tumblr_nm4xmybjUR1terwlso1_250.gif

 

:D  :D  :D 

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10 hours ago, DinarThug said:

The central bank participates in the Bani platform

21888.jpg
 

 

LINK

The Central participates in a workshop for public banks in Iraq


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13th July, 2020

Today, Monday, the Central Bank joined, in cooperation with the Arab Monetary Fund, a workshop for banks operating in Iraq to participate in the platform.

According to a statement by the Central Bank, the participation comes after the announcement of the launch of a platform for Arab payments of the regional institution for clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund and preparations are made for this bank and a number of local banks for direct participation in the platform.

The statement added that the workshop will discuss the proposed banks' business plans and touch on the technical requirements and the steps required to ensure that they are easily connected to the platform and to know the banks ’readiness to do so.

It is mentioned that the "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, to clear and settle inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of the Arab countries. 

The platform aims, according to the statement, to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the platform is provided to the participants Modern payment solutions that comply with international standards, principles and international compliance requirements. And in the opportunities for economic and financial integration in the Arab region, it actively contributes to it to support investment links with the trading partners of the Arab countries on various continents. The platform will be available to all banks that meet the criteria and conditions for participation in them, foremost among which are the standards and procedures for compliance aspects.

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

The Iraqi Central Bank discusses linking banks to the multi-currency "structures" platform    LINK

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14 hours ago, DinarThug said:

But This Wednesday Is July 15th When The CBI Governor’s Extension Is ‘Supposedly’ Up ...


Hmmm ....... Check These Next Several Posts Out ...

 

 

There Seems To Be A Sudden ‘Flurry’ Of Activity Coming Out From The CBI Right Now ! :o 

 

:D  :D  :D 

 

 

LINK

Grant a license to Al-Taif Exchange Company

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13th July 2020

 

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Translation....

 

We clear the license to practice working as a private share exchange company under category (4) in the name of Al-Taif Exchange Company (numbered () for the year ۲۰۲۰ granted to you in accordance with the provisions of Article (4) paragraph (۲) of the bank’s law Iraqi Central No. (56) for the year ۲۰۰4 and the Anti-Money Laundering and Terrorist Financing Law No. (۳۹) for the year ۲۰۱۰ and the controls in force and the company is subject to the supervision and supervision of this bank. - Approving the appointment of the members of the Board of Directors, who are Mr. (Farhan Saddam Rahma, Hassan Abdel Razzaq at Al-Rida, Hussein Shaaban Kamel, Jassem Adnan Ali, Haider Ali Abdul Hassan, original members of the Board of Directors and Article (Abdul Karim Muhammad Ali, Mustafa Muhammad Awda, Ayman Hamed Brio, Bassam Salam Dawood, Abdul Rahman Hamid Rashid) are reserve members on the Board of Directors provided that he does not work full-time for this position 3- Approving the appointment of Mr. Hassan Abdul Razzaq Abdul Redha as Managing Director of the company and Mr. (Zaid Ali Hussein) as his assistant and appointment Mrs. (Hoda Abdel Karim Mutasher) Compliance Observer, Mrs. (Rawa Abdul-Abdullah Naji) Muawiya and Mrs. (Hadeel Mahmoud Mohamed) as director of supervision and auditing provided that they are fully devoted to this position and that they are not trained in other companies to abide by the instructions of the applicable exchange companies. 

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Granting a license to Elaf Exchange / Najaf

 

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13th July 2020
 


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Translation....

 

Greetings. 1- Attach the business license as a private joint stock company under the category (4) in the name of the company (Elaph Exchange) numbered by number (9) for the year ۲۰۲۰ granted to you in accordance with the provisions of Article (4) paragraph (۲) of the Central Bank of Iraq Law No. (56) For the year 4 and the Anti-Money Laundering and Terrorist Financing Law No. (2) for the year 4 and the effective controls, the company is subject to the supervision and supervision of this bank. Approval of the appointment of the members of the Board of Directors, who are: Mr. Imad Abdul Zahra Kazem (Chairman of the Board of Directors, original member), Mr. Ali Abdul Hussein Talib) Vice Chairman of the Board of Directors (Authentic Member) and Messrs (Mahmoud Mohsen Fadel, Russell Muhammad Mohsen, Kholoud Allawi Naim) Original members of the Board of Directors and gentlemen (Yusr Farhan Hussein, Habib Mahdi Ateshan, Ali Turki Karim, Morteza Omran Musa, Ali Mahdi Ateshan) In the Board of Directors provided that this position is not completely devoted. - Approving the appointment of Mr. Mahmoud Mohsen Fadil, the Plenipotentiary Director of the company, Mr. (Mustafa Emad Abdel Zahra) as his assistant, and the appointment of Mr. (Karar Majid Kadhim) as compliance observer, and Mr. (Raafat Ha’if Abdullah) as his assistant and Mr. Amjad Abdul Bari Khalil Ibrahim) as director of oversight And checking. 4- Compliance with the instructions of the applicable exchange companies. 

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The Central Bank Is Selling More Than $ 190 Million In Currency Auctions For Today

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13th July, 2020


The Central Bank's bulletin on the details of the currency auction showed today, that the total amounts sold exceeded 190 more than one hundred and ninety million dollars.

The bulletin, which the independent obtained a copy of today, Monday, confirmed that the number of participating banks was 36, as the amounts purchased by those banks ranged between half a million and six million dollars.

Management of the Central Bank and the Ministry of Finance is under constant criticism from economic experts and many members of the House of Representatives because of insistence on the currency auction window.

 

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LINK  YESTERDAYS AUCTION RESULTS   

 

Results of the foreign currency sale window for Sunday 12/7/2020, implemented today

Advertisement No. 4215

Sale date -  Sunday 12/7/2020, implemented today

 

the details                         The amount
Total sale for purposes of 
enhancing balances abroad 
(transfers, credits).               187,413,575
Total cash sale.                     10,650,000
Total sales.                        198,063,575

 

 

Note that:

 

The sale price of the sums transferred to the accounts of banks abroad ( 1190 ) dinars per dollar.  

 

Cash sale price ( 1190 ) dinars per dollar.  


 

» The Central Bank of Iraq sales schedule for foreign currency (amounts in thousands of dollars) Sunday 12/7/2020, implemented today

 

Edited by DinarThug
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13 minutes ago, DinarThug said:

Hmmm ....... Check These Next Several Posts Out ...

 

 

There Seems To Be A Sudden ‘Flurry’ Of Activity Coming Out From The CBI Right Now ! :o


And Right Before A National Holiday For Tomorrow ! :o 

 

 

Somebody Wake Up The Bro’s ...

 

:D  :D  :D 

 

 

LINK

The General Secretariat of the Council of Ministers announces the suspension of official working hours on Tuesday


The General Secretariat of the Council of Ministers announces the suspension of official working hours on Tuesday
 
 
7/13/2020 18:36:58
 
 
The General Secretariat of the Council of Ministers announced the suspension of official working hours for tomorrow, Tuesday.
 
The secretariat stated in a brief statement, which {Al Furat News} received, a copy of it, on “suspending the official working hours on Tuesday 14/7/2020 on the occasion of the anniversary of the July 14 revolution.”
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Iraq shut down the official working hours on the occasion of the "July 14 Revolution"

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13th July, 2020

The General Secretariat of the Council of Ministers announced the suspension of official working hours tomorrow, Tuesday

In a short statement received by Shafaq News, the secretariat said that it announces the suspension of the official working hours on Tuesday, on the occasion of the anniversary of the July 14 revolution

The July 14, 1958 revolution, led by Abdul Karim Qasim, had toppled the Hashemite Kingdom of Iraq, which was founded by King Faisal I under British patronage, and subsequently killed all members of the Iraqi royal family, including King Faisal II, Crown Prince Abdul Ilah and Prime Minister Nuri Saeed

And Abdul Karim Qasim established the Iraqi Republic, until he was overthrown in the February 8, 1963 coup, which was executed

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Central Bureau Of Statistics: 1794 Banking Office In Iraq And Its Capital Exceeded 1.3 Trillion Dinars

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13th July, 2020


The Central Statistical Organization announced that the number of money transfer and exchange offices in Iraq amounted to 1794, with an investment capital of 1.3 trillion dinars.

The agency affiliated with the Ministry of Planning said in a new statistic for it, seen by the "Independent" today, Monday, that "the total number of money transfer and exchange offices for the year 2018 amounted to 1794 offices and it has increased significantly from the year 2012 when it reached 825 offices," noting that "the total value The invested capital is 1.3 trillion dinars.

He added that "the total number of workers in these offices amounted to 2882 workers" with and without pay". The number of male employees constituted the highest percentage of the total number of employees, reaching 95.8% and females 4.2%."

The device pointed out that "the survey included the provinces of Iraq except for the Kurdistan region, Nineveh and Anbar," noting that "the statistics will provide accurate data on the activities of these companies and meet the requirements of national accounts and the Central Bank of Iraq and the beneficiaries."

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On 7/11/2020 at 2:30 PM, DinarThug said:

The government begins implementing the steps of the White Paper and Parliament welcomes


11/07/2020 09:02:53 PM


Baghdad / extent

 

The Parliamentary Finance and Economy Committees welcomed the control of the security forces over the first border entry points (Mandali and Munthiriya). They said that these measures are part of the economic reform plan (the white paper) that the government has promised to implement.

(Al-Mada) revealed last week that Mustafa Al-Kazimi's government is preparing to implement a broad security plan to extend its influence on all border crossings because of the extent of corruption in the outlets, which is estimated at 12 billion dollars annually. 
The government loses control of six border ports on a daily basis from four in the afternoon until eight in the morning the following day. Armed parties also take advantage of unauthorized outlets, and corrupt goods, merchandise, and drugs, and even forbidden materials such as drugs, are entered into Iraq in coordination with influential figures, according to officials and observers who spoke to (Al-Mada) earlier.

Faisal al-Issawi, a member of the Finance Committee in the House of Representatives, said in a statement to (Al-Mada) that "the current economic situation needs radical solutions, not temporary patchwork, and therefore the House of Representatives committed the government to introduce economic reforms within sixty days starting from the date of the approval of the law of local and external borrowing ".

The circumstances of the financial crisis and the repercussions of the Corona Virus pandemic prompted the government of Mustafa Al-Kazemi to present the domestic and foreign borrowing law to be able to secure the salaries of state employees. 

Al-Issawi explains that "in the event that the government does not comply with these deadlines (sixty days), the Finance Committee in the House of Representatives will present a proposal for an economic reform law to change the direction of the economy from an economy dependent on the state's imports to a resource-generating economy for employment and development opportunities," considering that "reliance on oil revenues The distribution of salaries is a deviation that needs to be addressed in the Economic Reform Law.

Last June, Prime Minister Mustafa Al-Kazemi confirmed that his government prepared a white paper for the expected economic reforms, and took preliminary recommendations, which are being discussed before moving forward, pointing to “the need for complementarity between the government and the parliament to support system" rel="">support these new reforms.”

The deputy from Anbar province confirms that "there is communication between parliament and the government through the cell of the economic crisis that formed earlier as it was agreed on the general vision of the economic paper," stressing that there is unity in "opinions and ideas between the executive and legislative branches on passing reforms".

The Council of Ministers had previously decided to form an emergency cell for financial reform, headed by the Prime Minister and membership of both the Minister of Finance, the Minister of Foreign Affairs, the Minister of Planning, the Governor of the Central Bank, the Advisers to the Prime Minister, the Secretary General of the Council of Ministers, and a representative of the General Secretariat of the Council of Ministers.

And the independent deputy adds: "We have now come up with a general perception of the white paper, and how it is directed by the government," adding that "however, there are interventions to divert the white paper path from a number of entities represented in extending the work of telecommunications companies."

(Al-Mada) revealed in its report on the twenty-third of last June that "the economic white paper is made up of reform packages that will be launched and implemented in the form of three phases. The first is short-term and is represented by the state's control of border ports and ports, and tackling the corruption of the currency auction and the smuggling of hard currency, Reducing the salaries of the three presidencies and solving the problem of state real estate. The report adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects." A member of the Parliamentary Finance Committee points out that "the security forces' full control of the (Mandali and Munthiriya) border executives is part of the reform plan adopted by the government, which was committed to implementing it before the parliament to save the economy."

The Joint Operations Command announced in a statement that "the Rapid Response Forces and the Popular Mobilization entered the border executives (Mandali and Munthiriya) and imposed full control and inspection of them," stressing that "the allocation of elite forces to maintain them permanently to combat corruption and eliminate it, implementing measures smoothly and in accordance with the law, and imposing state prestige ".

For his part, Mazen al-Faili, a member of the Economic Committee in the House of Representatives, confirms that "Parliament’s sessions at the present time have been disrupted due to the Corona crisis, which has made it impossible for us to discuss the measures of the government that I took in the recent period, especially the issue of outlets."

(Al-Mada) revealed last week that Mustafa Al-Kazimi's government is preparing to announce a security plan to extend its influence over all border outlets in the governorates, where the Finance Committee in the House of Representatives estimated the extent of corruption prevailing in the border outlets at $ 12 billion annually, due to the control of armed groups and clans over These ports. In a statement to (Al-Mada), Al-Faili shows that "the parliament's economic and investment committee demands the government with the participation of parliament committees to prepare economic reforms," saying that "the government's move towards the outlets is a step in the right direction."

He adds that "tightening control by the security forces on these outlets would be a precursor to going to the other border outlets, controlling them and ensuring that their revenues enter the treasury of a state."

LINK


What’s The Name Of This Thread - Can U Say ‘Implementing The White Paper’! :o
 

 

So That Hopefully We Can All Start Exchanging This ‘Toilet Paper’ ... 

 

:D  :D  :D 

 

 

LINK

IBBC Executive Committee Meeting and Council Meeting

Iraq-Britain-Business-Council-IBBC.png

 

13th July, 2020


The Iraq Britain Business Council (IBBC) held its biannual council meeting on Wednesday 8 July. The meeting was chaired by Bob Phillips (Mott MacDonald), member of IBBC's Executive Committee and was attended by over 30 IBBC member company's representatives.

Following a discussion of the present situation in Iraq and the UK, led by IBBC's President Baroness Nicholson of Winterbourne, IBBC members reviewed the Council's activities since January.

 

Baroness-Nicholson-IBBC.jpg

Baroness Nicholson of Winterbourne, President of IBBC

 

Christophe Michels, MD of IBBC commented "since the lockdown started in March, with its management based out of London, Baghdad and Erbil, IBBC organised 25 online meetings for its members with, among others, GoI and KRG Ministers and Governors, officials from the FCO, DIT and a series of meetings with the WB and IFC.  We also vigorously continued to pursue our tech, education, women in business and young executive initiatives and have launched free WB and IFC sponsored business awareness online tutorials for Iraqi SMEs.  Our Advisory Council published a white paper for the incoming Iraqi Government which was widely praised in Iraq and by the international community".

 

Hadeel-Hassan-Al-Hadeel-Al-Hasan-and-Par

Mrs Hadeel Hassan, The Founder and Managing Director, Al Hadeel Al Hasan & Partners

 

Prior to the Council Meeting there was a meeting of the IBBC Executive Committee, which reviews the overall work of IBBC and advises its management. At the meeting the committee welcomed two new members, Mrs Hadeel Hasan, the founder and managing director at Al Hadeel Al Hasan & Partners, and Zaid Elyaseri the Country Manager of BP in Iraq.

 

Zaid-Elyaseri-Country-Manager-Iraq-BP-IB

Zaid Elyaseri, Country Manager Iraq, BP

 

At both meetings IBBC members expressed their satisfaction with the work of the Council in these challenging times. Many also acknowledged that the present crisis facing Iraq was indeed very challenging and that all businesses were suffering from it, but that the country had seen worse economic and other crisis in its recent history and was extremely resilient and resourceful in weathering such difficult times.

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Photos: Al-Firdous Square, Baghdad, as you have not seen it before!

2020.07.11 - 23:10
 
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Baghdad - people
  

Recent photos of Al-Firdous Square in the center of the capital, Baghdad, have shown progress in its rehabilitation, in cooperation with several governmental and private organizations and institutions.   
 

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It is noteworthy that the Municipality of Baghdad, in cooperation with the Central Bank of Iraq and the Association of Banks, undertook the rehabilitation and development of the square, including the establishment of a design that represents the Tigris and Euphrates rivers.   

LINK

On 7/11/2020 at 2:34 PM, DinarThug said:

Photos: Al-Firdous Square, Baghdad, as you have not seen it before!

2020.07.11 - 23:10

 

LINK

The Baghdad Municipality opens Al-Firdous Square after its rehabilitation

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21:25 - 12/07/2020
 

On Sunday, the Paradise Square was formally opened, after its rehabilitation, under the supervision of the Baghdad Municipality and the General Secretariat of the Council of Ministers, with the support of the Central Bank of Iraq and the Iraqi Private Banking Association.

A joint statement, issued by the Municipality of Baghdad and the Central Bank of Iraq and the Association of Iraqi Private Banks and received by him / the information /, “We announce today the opening of Al-Firdous Square in central Baghdad in its new condition after its rehabilitation by the engineering staff in the Association of Iraqi Private Banks and with the support of the Community Initiatives Fund enabling the financier of Private banks are under the supervision of the Central Bank of Iraq, the Baghdad Municipality, the General Secretariat of the Council of Ministers and the Ministry of Culture.

He added that "the total area of Al Firdous Square reached 6336 square meters, and the best international building materials were used, such as fountains that were placed on an area of 1060 square meters, and it is one of the dancing fountains that include jumping and linear movements."

He mentioned the new design of the square, mixing the heritage of Baghdad and its present, as it symbolized the Tigris and Euphrates rivers in addition to the Iraqi palm tree, and other important Iraqi symbols, indicating that the new design included placing a large area to construct a monument to be established by the Ministry of Culture later, and this space bears a weight of 80 Tons.

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Parliamentary finance reveals the number of outlets "out of control" in the north and south and stresses monitoring the currency auction

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13th July 2020

 

The Parliamentary Finance Committee revealed the number of "uncontrolled" outlets in the north and south, while stressing monitoring the auction of selling the currency and where its money goes, in light of the widespread corruption in the country.


Member of the Committee, MP Ahmad Hama told Al-Ikhbaria that "the Prime Minister is required today to launch a campaign against the corrupt and influential mafias that control and control the Iraqi ports in Basra and the border crossings, as it is the economic focal point for Iraq."

He added that "eleven border outlets in Basra and the same in the Kurdistan region of Iraq are outside the control of the state and no one knows what is going on in them, especially since the volume of waste in them is estimated at about nine billion dollars annually."

Hama stressed that "the currency auction sells about $ 60 billion annually to purchase goods, but it is without supervision and there are no conditions for the import of goods, which makes waste in importing billions of dollars that are the right of the people."

It is noteworthy that corruption has been eating away at the state’s body and making it incapable of even paying the salaries of employees, retirees and beneficiaries of social welfare sums, and it seems that the government has launched a campaign to curb corruption, but it has not yet yielded tangible fruits.

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The Iraqi Stock Exchange continues its gains for the second day

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13th July, 2020
 

The Iraqi Stock Exchange continued its gains for the second day in a row, as it closed on Monday with a rise of 1.88% as a result of the Iraqi government launching reform packages that reduce corruption in the public sector and give large powers to the private sector

The exchange traded today 857.1 million shares, worth 567.1 million dinars, through 387 transactions on the shares of 23 companies, as the general index closed at 449.96 points

Banking sector shares are the most heavily traded, as investors concluded 153 deals, at a value of 229.1 million dinars, for shares of 11 banks, as traded shares reached 771.8 million shares. Banks achieved gains, reaching 10% in the Middle East Bank and 8.7% in the Investment Bank

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OPEC + Agreement: Saudi Arabia pushes Iraq towards the brink of "forced retrenchment"


2020-07-13
 
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Follow Iraq:

 

The Iraqi Oil Ministry announced today, Monday, that its Minister, Ihsan Abdul Jabbar Ismail, received a phone call from his Saudi counterpart, Prince Abdulaziz bin Salman bin Abdulaziz.

A statement received by "Yes Iraq", a copy of it, said, "The conversation between the two ministers focused on following the developments of the petroleum markets, the improvement witnessed in the market in the global demand for oil, and the course of work in the current OPEC Plus agreement:"

At the end of the call, the two ministers issued the following joint press release:

“The Kingdom of Saudi Arabia and the Republic of Iraq confirm their full commitment to the OPEC Plus agreement. In this regard, the Saudi Energy Minister praised Iraq’s performance within the framework of the agreement, as the level of commitment by Iraq in June reached nearly 90%, as it affirmed. That is secondary sources. ”

His Highness the Minister also thanked His Excellency the Iraqi Minister for this achievement, and expressed his confidence that Iraq will continue and improve the level of its commitment.

For his part, the oil minister confirmed Iraq's commitment to the "OPEC Plus" agreement, adding that "Iraq will raise the level of its commitment to 100% starting next month, with its commitment to compensate, during the months of July, August and September, for the excess production quantities during the months of May and June.

At the end of the phone call, the two ministers affirmed that the efforts made by the countries participating in the "OPEC Plus" agreement, towards efforts to adhere to the percentages of production cuts established in the agreement, will enhance the stability of global oil markets and accelerate the achievement of their balance.

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