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

Jump to content
  • CRYPTO REWARDS!

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

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


 Share

Recommended Posts

CNN. Broadcasting With Crayons While Working On The ‘White Paper’ !
 

 

 

image.jpeg.7e7553d831f8fe3b1098cba8a1def3bd.jpeg
 

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 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

  • Like 5
  • Thanks 3
  • Upvote 2
Link to comment
Share on other sites

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

2020.07.11 - 23:10


4045774e8-35162-202007111110.jpg

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.  
 

me_ga.php? id = 3069    me_ga.php? id = 3072    me_ga.php? id = 3070


me_ga.php? id = 3071    me_ga.php? id = 3067    me_ga.php? id = 3068  
 

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

  • Like 3
Link to comment
Share on other sites

Conscious / Parliamentary Finance: The salaries of state employees in all institutions are insured and settled


image.jpeg.518553a4dd9001784985815062288703.jpeg 
 

 
Conscious

 

/ Baghdad / M.A.
 

Member of the Parliamentary Finance Committee, Ahmed Mazhar Al-Jubouri, ended today, Saturday, the controversy over the concerns about the delay in employee salaries for the month of July.

Al-Jubouri said in a statement received by (Iraqi Media News Agency / conscious) that "the salaries of state employees in all Iraqi institutions are insured and decided, and will be distributed on the specified date", indicating that "we have crossed the stage of danger and there will be no delay in the salaries of this July."

He added that he "excludes any problem in the distribution of financial dues to employees in this month."

T: R.H.

link

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

22 minutes ago, DinarThug said:

The Parliamentary Finance decision clarifies regarding the possibility of an EU decision affecting sending and receiving remittances to Iraqis

127024.jpg?watermark=4

 

Policy 7/20/2020 21:45 85    


Baghdad today - Baghdad 
 

The decision of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, on Saturday, July 11, 2020, on the possibility of an EU decision affecting sending and receiving remittances to Iraqis, after placing Iraq on the list of high-risk countries in the face of money laundering and terrorism. 

Al-Saffar told (Baghdad Today), that "placing Iraq on the list of high-risk countries in the face of money laundering and terrorism support system" rel="">support is not new, but is a decision issued since 2016, and it has been implemented, and this decision does not relate to the financial system in Iraq as it relates to the nature of the situation The security that Iraq has gone through. "

He added that "entering Iraq on the list will affect the financial dealings with some European countries, but this effect is not significant and will not affect our citizens, especially with regard to remittances." 

He continued that "there are efforts by the Iraqi Ministry of Finance and Foreign Affairs with the United Nations Mission to the European Union, to remove the name of Iraq from the list of high-risk countries in the face of money laundering, and to visit Iraq in the field to see the facts that have not been disclosed over the past years."

The Foreign Minister, Fouad Hussein, had asked Wednesday (08 July 2020) his European counterparts to refuse to include Iraq on the list of high-risk countries on money laundering. 

"The Minister Fouad Hussein sent a letter to his European counterparts urging them to reject the decision of the European Union Commission to include Iraq in the list of high-risk countries regarding money laundering and the financing of terrorism," Foreign Ministry spokesperson Ahmed al-Sahaf said in a statement received (Baghdad today). 

Al-Sahaf added, "The Minister of Foreign Affairs assured his counterparts in the message he sent to them that Iraq has implemented over the years important laws and measures aimed at combating money laundering, terrorist financing, and mitigating the risks associated with it." 

According to the State Department’s statement, the Financial Action Task Force (FATF) report indicated that “AML / CFT safeguards in Iraq are strong and well-established.”

LINK

 

The Central Bank issues an explanation regarding the decision of the European Union Commission

 

Saturday 11 July 2020


alsabaah-39560.jpg

 

Baghdad / Al-Sabah
 
 

A statement by the Central Bank of Iraq clarified that in light of the decision of the European Union Commission to keep Iraq in the revised list of high-risk countries regarding money laundering and terrorist financing. The Anti-Money Laundering and Terrorist Financing Office wishes to clarify that efforts to remove Iraq from the European list of high-risk countries are still ongoing Since the issuance of that list for the first time in 2016, which was more comprehensive than the list issued by the International Financial Action Group (FATF) and in 2018, after fulfilling many requirements and clear progress in the Iraq file in the field of combating money laundering and terrorist financing, the name of Iraq has been removed from The international list of the FATF group to escalate as a result of that effort and concert in order to accelerate the removal of his name from the European list through full compliance with European standards in this the field. 

 
Systems version
 
Iraq has continued, through high-level coordination between its governmental agencies, to develop measures to combat money laundering and terrorist financing by issuing regulations and instructions regulating this sector and the acquisition of devices and programs that contribute to uncovering this type of operation, in addition to entering into bilateral and multilateral treaties on international cooperation in combating these crimes.
The continued inclusion of Iraq in the European Union list was not due to the indication of a deficiency in the Iraq file, but was under the pretext that the security situation in Iraq did not enable the European Union Commission to stand on the Iraqi situation in the field or communicate with Iraq directly, and because this reason was not A technical or acceptable reason for the continued inclusion of Iraq in this list. The Ministry of Foreign Affairs and the Ministry of Finance initiated the sending of letters of protest against the recent European Commission’s recommendation not to remove Iraq from the list, and the Anti-Money Laundering and Terrorist Financing Office continued to hold meetings with the relevant authority in the Commission to explain and present evidence that Prove that Iraq meets the requirements and standards of the European Union in the area of combating money laundering and terrorist financing. 
 
Governmental entities
 
It is important to note that the last recommendation of the European Commission has not yet entered into force and that it does not mean preventing dealing with Iraq, but rather is limited to applying due diligence towards financial transactions that Iraqi institutions are part of, and that the exceptional efforts made by government agencies recently contributed to the delivery of the Voice of Iraq And its real efforts in this area. It is hoped that the European list will be reviewed soon, and that the name of Iraq will be removed from it.

LINK

  • Upvote 3
Link to comment
Share on other sites

Iraqi capital invested abroad


Thursday 09 July 2020

alsabaah-39513.jpg

 

Baghdad / Al-Sabah
 
 
Many temptations are offered by many countries to attract Iraqi businessmen in exchange for sums of money invested in those countries, at which point the investor gets the passport of that country, which gives him freedom of movement between most of the world, which carries with it negative effects on the economy of the country, as it can create an environment An occasion to work and invest in Iraq leads to a lack of preference for another working environment.
Member of the Baghdad Economic Forum, Jassem Al-Iraqi, warned that "Iraq has jobs that are not counted in all economic sectors without exception and can accommodate the efforts of regional, local and international companies. It is imperative that we work hard towards improving the reality of the investment environment, and preserving Iraqi expertise and money inside the country." ».
 
Labor market
 
The Iraqi added that «the Iraqi capital is present in the Diaspora and is estimated at hundreds of billions that we can return to the local labor market, provided that we achieve the attractions of the Iraqi funds that achieve various economic benefits.
The CEO of (Blumina) Wasim Dawood said: “There is an interest by investors and businessmen to obtain the second nationality and the second passport or Permanent residency through investment, due to the new facilities and programs that have been put forward by the governments, and the company has experience in this field and we have kept abreast of various changes and trends in the Arab world and in the world in the field of second nationalities and permanent residency through investment. We seek to be present in every Arab market, so we started in Jordan and expanded to Egypt, the United Arab Emirates, Iraq, Palestine and more recently in Qatar. ” 

Ease of procedures
 
He pointed out that "in general, the citizens of Iraq prefer to obtain the nationalities of the Caribbean countries belonging to the British Commonwealth, because of the ease of obtaining them, in countries such as Saint Kitts and Nevis of the British Commonwealth."
In turn, the economic affairs specialist Ahmed Al-Rikabi stressed the "need to protect Iraqi human resources with expertise in the field of their work, and we should not provide them free of charge to the different countries of the world and with capital that can achieve a major economic benefit for the country."

Protect our resources
He referred to «the need to diagnose the relevant authorities this matter and work to find solutions and protection 
Our human resources and capital are better than what was presented on a plate of other economies. ”He pointed out,“ It is necessary to pay attention to the fact that the Commonwealth countries offer temptations to the holder of the second nationality and their families, including traveling to more than 160 countries without a visa. The investor is also a first-class citizen in and gets Residence in Britain for a period of 6 months per year, thereby obtaining the best health care and education services, as well as tax exemption on income and the possibility of opening external bank accounts and registering companies abroad and developing businesses, and here we should take advantage of these incentives and work to find greater temptations than that. These fortunes. ”
 
Iraqi applicants
 
You ask Rikabi for a reason All Iraqi applicants obtain a Saint Kitts and Nevis passport with a 99 percent success rate Without any cases of refusal and progress This service is guaranteed by thousands of businessmen, doctors and investors in Iraq And their family get a second passport?


LINK

  • Upvote 2
Link to comment
Share on other sites

LINK

Economists for the Obelisk: The coming months will see a further decrease in the reserves of the Central Bank


146233.jpg?width=750&&height=375

 

11th July, 2020



Economic expert Manar Al-Ubaidi said, on Saturday, July 11, 2020, that the coming months will witness a further decline in the reserves of the Central Bank.

Al-Obaidi told Al-Masala: The Central Bank assets for May 2020 decreased by 1.83% compared to April 2020, but they increased by 3.93% compared to May 2019, to reach the value of the assets 105.6 trillion dinars.

Al-Ubaidi added: The reason for the decrease in the assets of the central bank is due to the continued volume of sales from the dollar for the purpose of importing with the decrease in the volume of purchases from the dollar from the Ministry of Finance, which leads to the trend towards using the reserve to compensate for the shortfall, and the gold and cash reserves increased by 0.54% compared to April 2020 At a rate of 15% compared to May 2019, to reach 21 trillion dinars.

Al-Ubaidi continued: The percentage of decline in investments reached 4.64% compared to April 2020 and 11.3% compared to May 2019 to reach 43.5 trillion dinars.

On the level of the issued cash, Al-Ubaidi confirmed that it increased by 1.3% compared to April 2020 and 26% compared to May 2019, to reach 58.6 trillion dinars, and to represent 55% of the bank’s total liabilities, a large proportion attributed to the decline in bank deposits and government institutions balances as the banking sector suffers from weak banking transactions that reduce the size of its deposits with the central bank and also the need for government institutions for funds, which causes them to withdraw part of their assets with banks to cover their expenses.

Al-Ubaidi said: It is expected that the coming months will witness a further decline in the reserves of the central bank as a result of the decline in the purchase of the dollar from the Iraqi government as a result of weak imports and the continued purchase rates of the dollar for import purposes at the same pace, which leads to withdrawing more of the bank's reserves to compensate for the shortfall.

Al-Ubaidi added: Three parties responsible for industrial investment in Iraq:

1-  Industrial development according to the Industrial Investment Law

2- The National Investment Commission according to the investment law in Iraq

3- The Directorate of Industrial Cities according to the Industrial Cities Law

Al-Ubaidi continued: In natural and logical circumstances, the three sides are competitive entities. The size of the competition between the three bodies should be at their height, and the three bodies work to win over investors through:

- Inviting investors to see the opportunities available in each body.

- Building a model for what the agencies offer, the future image, investment returns, guarantees, and facilities.

- Internal and external marketing campaigns to attract investors from various countries.

- Direct dialogues and visits with major investors and big companies.

Al-Ubaidi stressed: But the absence of goals and monthly plans and the consequences of the lack of investigation made their field of work confined to dealing with the consequences and problems without talking about the achievements.

Al-Obaidi added: The three directorates, along with the three laws, could have built an investment environment capable of establishing industrial societies that would contribute to increasing the local product and providing job opportunities for thousands of unemployed youth.

Al-Ubaidi added: With the exception of the reasons paid by parties and parties working to use laws and laws to serve them only, the reason that comes after it is weakness and lack of interest in competition.

Al-Ubaidi said: The competition results from the size and follow-up of the goals set and the consequences that follow the failure to achieve, which constitutes a pressure factor on all bodies to work aggressively and fiercely and use all means to achieve these goals.

Al-Ubaidi added: All previous and current governments are talking about investment and the private sector, especially the industrial sector, but there is not a single report that explains the size of the desired goals from each body and the amount of what has been produced on the ground and what steps have been taken rightly from achieving these goals.

Al-Ubaidi concluded by saying: When the consequences disappeared, the goals were lost and the spirit of competition and perseverance died with them.

  • Like 1
  • Upvote 2
Link to comment
Share on other sites

The Iraq Stock Exchange trades 97 billion shares


Saturday 11 July 2020
 

alsabaah-39562.jpg

Baghdad / Hussein Thugb

 
 
The report of the Iraq Stock Exchange revealed for the first half of this year the trading of 97 billion shares at a value of 132 billion dinars, despite the challenges witnessed this year and the curfew measures due to the spread of the "Corona" virus.
And the Iraq Stock Exchange issued the report for the first half of 2020 and included stock trading indicators and a directory of listed joint stock companies - the first part, which includes data for 24 joint stock companies, as of December 31, 2019 received up to the preparation of this report.
 
Trading sessions
 
The Executive Director of the market, Taha Ahmed Abdel Salam, said: “The market organized (75) sessions during the first half of 2020. It is less than the number of trading sessions for the first half of last year, as the market did not organize trading sessions during the days of a complete curfew in compliance with the decisions of the National Committee Supreme Council for Safety and Health due to the outbreak of the Corona epidemic in the world, and below are the interruptions during the first half of 2020. "
 
Economic indicators
 
He added that "the number of companies listed on the Iraq Stock Exchange is (104) joint stock companies,while the number of companies traded in their shares is (65) companies," noting that "international economic indicators, local indicators and conflicting expectations for the movement of the global economy and the prices of oil, gold and currencies globally And international health indicators affected the overall indicators of global and developing financial markets, and the decrease in the number of sessions organized by the market during the months of March, April, May and June from the monthly average of 20 sessions per month due to the Corona pandemic and the lack of regulation of trading days of complete curfew has affected the size of the overall indicators of investor trading. .
 
Selling indicators
 
Abdel Salam pointed out that "the ISX60 market index for the prices of shares traded in the first half of 2020 decreased from 480 points in the month of January 2020 to 462 points in the month of February then to 444 points in the month of March and to 413 in the month of April and then to 424 in the month of May It rose to 434 in the month of June, "indicating that" orders to buy and sell shares did not stop after the Corona pandemic, and the indicators for the month of June were the best, especially on the purchase side, and sales indicators exceeded them. The ratio of the total number of shares traded to foreigners reached 14 percent of the total number of shares Traded. Its value reached 13 percent of the value of shares for the first half of 2020. "
 
Stock quotes
 
Abdel Salam indicated to "the decisions of the Securities Commission and the Board of Governors of the Iraq Stock Exchange, which included stopping trading activity in the Iraq Stock Exchange during the complete curfew due to the Corona pandemic for the period from March 17 to April 21, and reducing the number of stock trading sessions from 5 sessions to 3 Weekly sessions are organized on Sunday, Tuesday and Thursday of each week, starting from Sunday, April 26, 2020 until the end of May 2020, and reducing the percentage change in the prices of shares traded when decreasing from 10 percent to 5 percent of the previous closing price, as well as maintaining the rate of price change Shares traded at a 10 percent increase, closing the investor hall and preventing their presence, to prevent mixing and even further notice, in compliance with the decisions of the National Safety Committee due to the pandemic. "
 
Brokerage firms
 
He cautioned, "The 42 brokerage firms deployed in Baghdad have traded remotely from its On-Line headquarters through the Iraq Stock Exchange System - remote trading, and the request to renew letters of guarantee for brokerage firms due to be renewed within a week during the partial curfew has not been decided. The brokerage firms' activities are stopped in line with the Central Bank of Iraq decision not to cancel any guarantee letter due during the curfew completely prohibited by the beneficiary. 
It is noteworthy that the Iraq Stock Exchange participated in the 25th anniversary meeting on the establishment of the European Union - Asian FEAS on Tuesday 19 May 2020 through the Zoom program with the participation of the members of the union, as well as participation in the training program organized by the Central Bank of Iraq and Iraqna Economic Consulting Company "credit rating requirements according International Agencies "and participation in the Iraq Finance Expo (IFEX) conference which was organized by means of modern meetings ZOOM for the days from 22-24 June 2020 organized by Frontier Exchange International Company, and provided the Iraq Stock Exchange Presentation alongside the Central Bank of Iraq."


LINK

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

LINK

The stock exchange organizes "virtual" workshops for the banking sector


21870.jpg
 

11th July, 2020
 

The Iraq Stock Exchange (Stock Exchange) announced its organization of a "virtual" workshop in which a number of bank shareholders and academic elites participated

The workshop was presented by the delegated director of the Baghdad Bank, Basil Al-Dahi, during which he talked about the financial and informational disclosure of the bank during the year 2019 and the quarterly financial statements for the year 2020

A market statement received by "Al-Iqtisad News" stated that "the Iraq stock market will continue to organize these workshops via the Internet with most of the listed companies," noting that the reason for holding the workshops is "to educate the community about the results of the businesses of the joint-stock companies registered in it

He pointed out that he will organize today a "virtual" workshop for the National Bank of Iraq for shareholders and those interested in stock activity

  • Thanks 2
  • Upvote 3
Link to comment
Share on other sites

14 hours ago, hawk-eye-view said:

Not sure if I mistakingly opened a dating site, or am I watching a ping pong match.

News article/flirtation       News article/flirtation

News article/flirtation...the multi million dollar question is , is anyone going to score?


Yo Snap - Our Ratio Of Flirtation Posts Is Way Down So Far In This New Thread ! :o 

 

 

I Better Go Put On Some More ‘Blush’ ...

 

:D  :D  :D 

  • Thanks 1
  • Haha 3
Link to comment
Share on other sites

Holy Scrap - I Wonder If They Can Recycle The Entire Country ! :o 

 

:D  :D  :D 

 

 

LINK

Iraq introduces German expertise to recycle iron scrap

image.jpeg.9d6c963f0d5f4a96bf2815b66c00dfd1.jpeg

 

11th July, 2020



The General Company for Iron and Steel announced one of the formations of the Ministry of Industry and Minerals, Saturday, to start a project to recycle scrap iron according to the latest international technologies.

The company’s general manager, Abbas Hayyal, said in a statement that Mawazine News received a copy of it, “The company introduced 2 Schrader machines for recycling scrap iron. Machines from the first German origin are rotating 25 tons of scrap within one hour, and the second is recycling 50 tons for iron recycling. Scrap within one hour."

He added, "The work is continuing by the company's cadres with diligence and dedication despite the high temperatures and difficult health conditions that the country is going through, in a step by the company to provide the raw materials to operate the factories and factories that will be completed and commenced work after completing the rehabilitation project of the company's factories."

She continued: "The German Schrader machines are considered one of the most important establishments in the industrial fields such as iron, steel and minerals. The German company has a leading position on the global level, in which it is based on its long traditions, technological development, innovation and creativity in addition to the accuracy, quality standards, safety and security, which makes its products have the trust of customers Around the world."

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

1 hour ago, DinarThug said:

The Iraq Stock Exchange trades 97 billion shares


Saturday 11 July 2020
 

alsabaah-39562.jpg

Baghdad / Hussein Thugb

 
 
The report of the Iraq Stock Exchange revealed for the first half of this year the trading of 97 billion shares at a value of 132 billion dinars, despite the challenges witnessed this year and the curfew measures due to the spread of the "Corona" virus.
And the Iraq Stock Exchange issued the report for the first half of 2020 and included stock trading indicators and a directory of listed joint stock companies - the first part, which includes data for 24 joint stock companies, as of December 31, 2019 received up to the preparation of this report.
 
Trading sessions
 
The Executive Director of the market, Taha Ahmed Abdel Salam, said: “The market organized (75) sessions during the first half of 2020. It is less than the number of trading sessions for the first half of last year, as the market did not organize trading sessions during the days of a complete curfew in compliance with the decisions of the National Committee Supreme Council for Safety and Health due to the outbreak of the Corona epidemic in the world, and below are the interruptions during the first half of 2020. "
 
Economic indicators
 
He added that "the number of companies listed on the Iraq Stock Exchange is (104) joint stock companies,while the number of companies traded in their shares is (65) companies," noting that "international economic indicators, local indicators and conflicting expectations for the movement of the global economy and the prices of oil, gold and currencies globally And international health indicators affected the overall indicators of global and developing financial markets, and the decrease in the number of sessions organized by the market during the months of March, April, May and June from the monthly average of 20 sessions per month due to the Corona pandemic and the lack of regulation of trading days of complete curfew has affected the size of the overall indicators of investor trading. .
 
Selling indicators
 
Abdel Salam pointed out that "the ISX60 market index for the prices of shares traded in the first half of 2020 decreased from 480 points in the month of January 2020 to 462 points in the month of February then to 444 points in the month of March and to 413 in the month of April and then to 424 in the month of May It rose to 434 in the month of June, "indicating that" orders to buy and sell shares did not stop after the Corona pandemic, and the indicators for the month of June were the best, especially on the purchase side, and sales indicators exceeded them. The ratio of the total number of shares traded to foreigners reached 14 percent of the total number of shares Traded. Its value reached 13 percent of the value of shares for the first half of 2020. "
 
Stock quotes
 
Abdel Salam indicated to "the decisions of the Securities Commission and the Board of Governors of the Iraq Stock Exchange, which included stopping trading activity in the Iraq Stock Exchange during the complete curfew due to the Corona pandemic for the period from March 17 to April 21, and reducing the number of stock trading sessions from 5 sessions to 3 Weekly sessions are organized on Sunday, Tuesday and Thursday of each week, starting from Sunday, April 26, 2020 until the end of May 2020, and reducing the percentage change in the prices of shares traded when decreasing from 10 percent to 5 percent of the previous closing price, as well as maintaining the rate of price change Shares traded at a 10 percent increase, closing the investor hall and preventing their presence, to prevent mixing and even further notice, in compliance with the decisions of the National Safety Committee due to the pandemic. "
 
Brokerage firms
 
He cautioned, "The 42 brokerage firms deployed in Baghdad have traded remotely from its On-Line headquarters through the Iraq Stock Exchange System - remote trading, and the request to renew letters of guarantee for brokerage firms due to be renewed within a week during the partial curfew has not been decided. The brokerage firms' activities are stopped in line with the Central Bank of Iraq decision not to cancel any guarantee letter due during the curfew completely prohibited by the beneficiary. 
It is noteworthy that the Iraq Stock Exchange participated in the 25th anniversary meeting on the establishment of the European Union - Asian FEAS on Tuesday 19 May 2020 through the Zoom program with the participation of the members of the union, as well as participation in the training program organized by the Central Bank of Iraq and Iraqna Economic Consulting Company "credit rating requirements according International Agencies "and participation in the Iraq Finance Expo (IFEX) conference which was organized by means of modern meetings ZOOM for the days from 22-24 June 2020 organized by Frontier Exchange International Company, and provided the Iraq Stock Exchange Presentation alongside the Central Bank of Iraq."


LINK

had a zoom meeting with ISX and broker this morning...

  • Haha 1
  • Upvote 2
Link to comment
Share on other sites

5 hours ago, DinarThug said:

The Central Bank issues an explanation regarding the decision of the European Union Commission

 

Saturday 11 July 2020

Iraq is moving to get it out of the European list of the most dangerous countries by laundering money ... Parliamentary finance for "Al-Zawraa": Iraq is listed among the three worst rankings in the world and we demand a major operation against corruption


July 12, 2020 12:06 am Author: alzawraapaper

 

%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9

 

Al-Zawraa / Hussein Faleh:



The Parliamentary Finance Committee revealed the inclusion of Iraq among the three worst rankings in the world, and while it warned of the repercussions of classifying Iraq among the most dangerous countries with money laundering, the government called for launching a major anti-corruption operation, while the Foreign Ministry announced its diplomatic move to remove Iraq From the European list of most dangerous countries with money laundering.

Member of Parliamentary Finance Committee Jamal Kujer said in an interview with Al-Zawraa: The inclusion of Iraq in the European Union's list of the most dangerous countries by money laundering has major repercussions on the Iraqi economy in general and on attracting capital and investment as well as on the reputation of Iraq internationally. 

That deals with money laundering means that it is not controlled by the government, especially in terms of financial and security in the management of money, and it also means that the law is not applied in this country, and it also means that it is an insecure environment for investment because money laundering is part of corruption. 

Iraq is among the three worst rankings in the world, the first among one of the most corrupt countries, and secondly among the most dangerous countries for money laundering, and the third among the countries that have more weapons escaped by the parties, indicating that this means that the state is not in control of the general situation.Corruption and money laundering are two sides of the same coin, stressing that money laundering abounds in countries where there are mafias and gangs outside the law and illegal acts. 

He explained: These factors drive investment and make capital escape from Iraq, stressing the need to launch a major operation to combat corruption and make reforms Real as soon as possible for the purpose of restoring confidence in Iraq. 

She pointed out that removing Iraq from the European list of the most dangerous countries with money laundering needs a great effort by the government, not only the foreign ministry, because the ministry is diplomatically limited, but the government must undertake reforms and launch anti-corruption campaigns, where There are still operations for money laundering and hard currency smuggling in Iraq. 

He stressed the importance of taking real measures to restore the prestige of the state by eliminating money laundering and corruption, which has become part of the culture of society.To that, spokesman for the Iraqi Ministry of Foreign Affairs, Ahmed Al-Sahaf, revealed the ministry’s actions after the European Union’s decision to place Iraq among the most dangerous countries by laundering money, indicating that it might leave the list before the end of this year. 

Al-Sahaf said: Most of the countries of the world are on the European list of countries. The most dangerous of money laundering, indicating that there are international standards followed by the relevant authorities in the European Union to evaluate countries, and that the Ministry of Foreign Affairs entered the stage of "urgent" procedures in coordination with the Central Bank and the Iraqi national authorities to confirm Iraq’s implementation of the necessary laws and standards and its right to exit the list.

And he pointed out that the Foreign Minister sent letters to all his counterparts in the European Union and all the executive bodies in the Council of the European Union and the Commission of the Union, and Iraqi embassies in European countries are following up and coordinating quickly to achieve the required, explaining that there is international acceptability and harmony with Iraq, and that there are indications that Iraq has left The European list soon. 

The European Commission, Iraq, along with other countries such as Afghanistan, Pakistan, Syria, Yemen, Iran and North Korea, were included in the list of countries that pose financial risks to the European Union, due to a deficiency in the fight against money laundering and terrorist financing, as the European Commission said These countries pose a "major threat" to the Federation's financial system.The European Commission, Iraq, along with other countries such as Afghanistan, Pakistan, Syria, Yemen, Iran and North Korea, were included in the list of countries that pose financial risks to the European Union, due to a shortage in the fight against money laundering and terrorist financing, as the European Commission said that these countries constitute A "major threat" to the union's financial system.

The European Commission, Iraq, along with other countries such as Afghanistan, Pakistan, Syria, Yemen, Iran and North Korea, were included in the list of countries that pose financial risks to the European Union, due to a shortage in the fight against money laundering and terrorist financing, as the European Commission said that these countries constitute A "major threat" to the union's financial system.

link

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

LINK

A deputy reveals a current struggle for the central bank management, the Baghdad Municipality and the Investment Authority

image.php?token=d10526b4b0ee44346ca22cd6f2a21bb4&c=3614480&size=
 

10th July, 2020

 

Member of the Parliamentary Integrity Commission Alia Nassif revealed today, Friday, a conflict that is currently taking place between the political blocs over the management of the Central Bank, the Baghdad Municipality and the authorities of integrity and investment, etc., as well as special grades, pointing out that the last parliamentary bloc was formed, in reference to the "Iraqis" Headed by Ammar al-Hakim, it is to support the government of Prime Minister Mustafa al-Kazemi, and in return it is to obtain positions in independent bodies and special grades.

Nassif told Al-Ikhbaria that "a parliamentary bloc was formed recently with the conclusion of a deal that includes the support of Prime Minister Mustafa Al-Kazimi in parliament in order to obtain the positions of independent bodies and special grades," in a clear reference to the Iraqi bloc.

Nassif stated that "the prime minister is currently in real trouble, as the last announced bloc has informed al-Kazimi of his support, provided that there is a quota allocated to it from the positions of agents, general managers and others."

 She pointed out that "partisan quotas are trying to divide everything", stressing, "There is a struggle for independent bodies, including the management of the Central Bank, the Integrity Commission, the Investment Authority, the Baghdad Trust, and others."

"I am in favor of the electoral entitlement that requires the distribution of ministries, but the administrative apparatus cannot be distributed and dismantled, and the quotas for the smallest jobs reach the service factor between the parties and they are changed in the light of quotas."

She stressed that "Al-Kazemi is brave, but he indulged in partisan demands and complied with her demands," stressing that "the administrative apparatus should not be included in quotas between parties."

  • Upvote 4
Link to comment
Share on other sites

17 hours ago, DinarThug said:

Iraq is moving to get it out of the European list of the most dangerous countries by laundering money ... Parliamentary finance for "Al-Zawraa": Iraq is listed among the three worst rankings in the world and we demand a major operation against corruption


July 12, 2020 12:06 am Author: alzawraapaper

 

LINK

Germany: We will remove Iraq from the list of high-risk
countries

 

1594513833_71272020_whatsapp-image-2020-07-12-at-12.07.29-am-1024x802.jpg

 

12th July, 2020

Germany pledged to make efforts to remove Iraq from the list of high-risk countries for money laundering and terrorist financing.

The Iraqi Foreign Ministry said, in a statement, "Gilgamesh Press" received a copy of it, that "Foreign Minister Fuad Hussein received a phone call from German Foreign Minister Haikou Maas. They discussed bilateral relations between the two countries, and the prospects for upgrading them to meet the aspirations of the two friendly peoples." The Iraqi Minister of Foreign Affairs affirmed his keenness "to strengthen the means of bilateral cooperation with Berlin in various fields, and we congratulate his German counterpart on his assumption of the presidency of the European Union," expressing his "aspiration to see relations between Iraq and Europe develop in a way that contributes to achieving the aspirations of both sides."

Hussein called on his German counterpart to "reveal his efforts to remove the name of Iraq from the list of high-risk countries in money laundering and terrorist financing." In the same context, the German Foreign Minister confirmed that he "will chair the ministerial meeting of the Federation next week, and will use his efforts to address this issue at the request of Iraq." The statement pointed out that "the two sides discussed the economic file and activating the mechanisms of bilateral cooperation in a way that benefits Iraq and Germany." The minister affirmed that "the doors of the Iraqi market are open to German companies because they have a long history of working in Iraq, and the ministry will work as far as it is concerned to communicate with the concerned authorities and ministries to address the difficulties that Siemens are facing." While the German Foreign Minister revealed "the strong desire of German companies to work in Iraq."

Regional and international issues and their repercussions on Iraq had a share of the research between the two ministers. The minister called on "Germany to use its political and economic weight with regional countries to prevent interference in Iraq's internal affairs." He pointed out that "Iraq's new foreign policy depends on the equivalence of finding balanced relations with all neighboring countries based on the principle of good neighborliness, achieving common interests, solving problems by peaceful means, and removing Iraq and its people from international and regional tensions."

For his part, Haikou Maas considered that "Iraq policy in establishing its relationship represents the correct path for relations with regional countries," noting that "Germany will work hard to protect Iraqi sovereignty, and Germany will continue to support Iraq in various fields." In another axis, they discussed the Syrian situation, and the minister stressed that "the complex security and political situation and the fighting in Syria are having a negative impact on the Iraqi security situation." For his part, Haikou Mas confirmed that his government is "a member of the international coalition in the fight against ISIS, and is ready to continue to support in this area, explaining that ISIS is a threat to everyone."

  • Like 2
  • Upvote 1
Link to comment
Share on other sites

LINK

Communications invites five international companies to implement optical portals

6054.jpg
 

12th July, 2020

 

Communications Minister Arkan Shihab revealed direct invitations to five international companies to establish the optical access gates project, indicating that the project is more than 12 years late for intentional reasons

Shihab said in a statement reported by the official newspaper "Al-Sabah" and viewed by "Al-Iqtisad News", that "The Communications and Information Company is one of the Ministry's companies, and sent out invitations to five international companies to implement the optical access gates project in the country according to Diwan No. 355, which stipulates invitations to the five global companies." The first in the telecommunications sector

He stressed that "the ministry is proceeding with the implementation of this project, which will completely eliminate smuggling operations that are causing stings in the country

He added that "the optical access gates project was late for about 12 years due to intentional reasons, as it is one of the important strategic projects that maintain the prestige, security and sovereignty of the country," noting that "the project has not been implemented since then, even though the necessary funds have been allocated for this project

Regarding the shock operations implemented by the Ministry to follow up and eliminate the smuggling of Internet capacities, the Minister stressed that "the operations carried out in cooperation with the intelligence and national security services and the rapid response forces in the Ministry of Interior and the Media and Communications Authority are still ongoing to uncover sites, towers, nodes and smuggling systems of Internet capacities until the elimination of Smuggling completely

And that the operations achieved significant and important results and recorded an increase in the units of Internet measurement on a daily and continuous basis and amounted to about 100 ranges (units of measure), which are very important ratios, and has achieved profits close to about five billion per month and in a continuous increase except for the old amounts that are available

He pointed out that "the process contributed to adding new capacities, approximately (8 periods), and these amounts are included in the accounting system

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

LINK

Iraq invites five international companies to establish the optical access gates project

1594508357_51272020_tytyty.jpg

  • Thanks 1
Link to comment
Share on other sites

LINK

Coca-Cola launches "Open Your Heart More Before" initiative to support small local stores in Iraq

21872.jpg
 

12th July, 2020

 

The Coca-Cola Company announced on Sunday the launch of the "Open Your Heart More Before" initiative to support local stores in light of the Corona pandemic crisis, indicating that it will provide free products to retailers to help alleviate the problem of cash

The company said, in a statement received by "Economy News", that "the launch of this initiative comes in response to the faltering business climate in the retail sector during the current period," stating that "the initiative will work with 50 thousand stores across Iraq to help them overcome these difficult times

She added: "As the region begins its recovery phase from the negative repercussions of the emerging crisis of the Corona virus, small businesses have been affected by this crisis more than others, and the changing nature of trade has greatly affected small groceries and local stores

The company clarified that it "aims to support retailers to help them overcome the difficulties they face and to give priority to health and personal safety standards

"The leading beverage brand will provide 500,000 muzzles, in addition to in-store awareness campaigns designed to encourage customers to support local stores across Iraq. Moreover, Coca-Cola will give more than 1.3 million products to retailers for free to help mitigate Cash problem

Commenting on the initiative, Tolga Sibi, Vice President and General Manager for the Middle East at Coca-Cola, said, "In light of the negative repercussions of the Corona pandemic that affected retail and small shops, we have seen that we have a duty to participate in providing the necessary support to alleviate these

He added, "The initiative aims to boost the momentum and encourage other companies and the public to build a joint force for small businesses and contribute to making a real difference in cooperation with each other

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

Coca-Cola launches initiative to save Iraq stores from the effects of Corona    LINK

  • Thanks 2
Link to comment
Share on other sites

LINK

The Labor Minister calls for a review of the terms of the World Bank loan


1594540095_787879.jpg
 

12th July, 2020

 

The Minister of Labor and Social Affairs, Adel Al-Rikabi, called for reconsidering the terms of the World Bank loan and subjecting it to the procedures and instructions of Iraqi laws.

This came during his meeting today, Sunday, with representatives of the World Bank mission in Iraq, the United Nations and the Office of Project Management (unpos), in the presence of the Chairman of the Parliamentary Work Committee Raad Al-Dahlaki and a number of members of the Committee.

A statement of his office stated, "During the meeting, the topic of the emergency project to support resilience and stability for the liberated areas and the cash-for-work project were discussed and interventions were made with a number of World Bank representatives in Baghdad, Beirut and New York via the Internet." Al-Rikabi stressed during the meeting "the need to find urgent solutions to the file of the displaced and provide appropriate financial and logistical support for them by allocating part of the loan amount granted by the World Bank to this segment to help in their return to their homes after verifying their conditions from the competent authorities." He pointed out that "the Ministry was keen on the participation of the Labor Committee in the meeting, as it is a main partner for the work of the Ministry, calling on the social partners to support the work of the Ministry."

Al-Rikabi stressed, "The ministry seeks to end all outstanding files and work according to the principle of priority to support the segments it sponsors, including those related to the World Bank loan file and the need to end the file of the displaced and coordinate with the higher authorities in the state and the relevant ministries to meet the basic needs in order to give them a certain amount in order to encourage them to return to their areas and form A team from the Ministry, the Ministry of Immigration and the Labor Committee to grant these amounts according to an accurate database of displaced families." He also called for "reviewing the terms of the World Bank loan and subjecting it to the procedures and instructions of Iraqi laws (instructions for government contracts), noting that the ministry has a new vision and plans to manage the ministry's work and the services it provides to the groups that benefit from it."

Al-Rikabi stressed the importance of starting to grant small loans to researchers registered in the ministry's database, according to priority and merit, after agreeing with the World Bank during the next few days. For its part, the Parliamentary Labor Committee announced its full support for the work of the Ministry in order to enhance its financial resources and to provide the best services to the various segments of society.

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

The Labor Minister calls for a review of the terms of the World Bank loan  LINK

Link to comment
Share on other sites

LINK

Parliamentary Finance: Salary liquidity is available and spent before Eid Al-Adha

Parliamentary Finance: Salary liquidity is available and spent before Eid Al-Adha
 
 
7/12/2020 08:27:58
 
 
The Parliamentary Finance Committee announced, ensuring liquidity of the salaries of employees and retirees for the coming months.

The reporter of the committee, Ahmed Al-Saffar, called in a press statement to "compel the government to pay salaries on time, especially as there is liquidity estimated at 8 trillion dinars provided from the internal loan," usually "that is, the delay in the distribution of salaries during the next three months administrative and technical failure." And that "salaries in general are a contractual issue during which employees are obligated to fulfill their duties in exchange for their salaries be spent on time set by the government," hoping that "the Ministry of Finance will fulfill its duty and distribute the salaries of the current month of July before Eid al-Adha."

Al-Saffar pointed out that "the legislative authority has fulfilled its duty, and the government has only to release salaries at the specified dates that are usually on the twenty-fifth of every month, or according to the timing of each government department."

He stressed that "what happened from the delay in the payment of salaries was outside the will of the state, and the issue was unintended and occurred because of the financial and health crisis, the effects of which are still clear and the lack of liquidity, but these reasons were eliminated after the vote on the law of internal and external borrowing." He noted the decision of the parliamentary Finance Committee that "all indicators confirm that the situation is moving towards improvement, especially that the price of a barrel of oil today reached $ 43, and will not be repeated this crisis." 
Link to comment
Share on other sites

LINK

Despite The Criticism ... The Central Bank Is Selling More Than
$ 198 Million In Currency Auctions For Today

%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9

 

12th July, 2020


The Central Bank's bulletin on the details of the currency auction showed today, that the total amounts sold exceeded 198 over one hundred and ninety-eight million dollars.

The bulletin confirmed that the number of participating banks was 36 banks, as the amounts purchased by those banks ranged between 2 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.

Iraq is the only country in the world that takes the currency auction to tyrannize the local currency in foreign currencies.

 

%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9

  • Thanks 1
Link to comment
Share on other sites

LINK

OPEC allies are preparing to reduce oil cuts in light of signs of recovery after the restrictions of Corona

%D8%A7%D9%84%D9%86%D9%81%D8%B7-1-696x460
 
 
09:50 - 12/07/2020


The Wall Street Journal reported that "OPEC" and its allies are preparing to reduce oil cuts in light of signs of recovery after the restrictions of the emerging Corona virus.

Group officials said that the Saudi-led oil producers coalition is pushing OPEC and its allies to increase oil production from August, amid signs of demand returning to normal levels after the closures related to the emerging Corona virus.

The main members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, will meet at an online conference on Wednesday, to discuss current and future production of the group. 
  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

"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 ".

  • Upvote 4
Link to comment
Share on other sites

Join the conversation

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

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

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

×   Your previous content has been restored.   Clear editor

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

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.




  • Similar Content

    • By DinarThug
      CNN. Broadcasting While Handing Out The Corona Masks (Secretly Dipped In Laughing Gas) For The Meeting !
       
      The second round of strategic dialogue between Iraq and America will start soon, amid Sunni-Kurdish support
      - 10 Hours Elapsed
      ;  
       
      Political circles in the Iraqi capital, Baghdad, and the Kurdistan region of Iraq are awaiting the results of the second round of "strategic dialogue" negotiations between Iraq and the United States of America, scheduled to begin on August 20, during a visit scheduled by Iraqi Prime Minister Mustafa Al-Kazimi to Washington to meet US President Donald Trump there.

      And according to what the White House recently announced, the talks between the two parties will include "facing the challenges posed by the emerging corona virus, in addition to issues related to security, energy and economic developments."

      While Al-Kazemi's office stated that the visit will include “discussing the files of bilateral relations between Iraq and the United States of America, issues of common interest, joint cooperation in the fields of security, energy, health, economy and investment, and ways to enhance them, in addition to the file to address the Corona pandemic, and bilateral cooperation to serve common interests. For the two countries, ”according to a government statement.

      And Shiite politicians, most of whom belong to the “Al-Fateh” coalition led by Hadi Al-Amiri, put the issue of removing American forces from Iraqi lands, in accordance with the decision of the Iraqi parliament (on January 5), as a top priority for the visit.

      A member of the Security and Defense Committee in the House of Representatives, a representative of the State of Law coalition, Kata Al-Rikabi, said, in a statement to the official agency, that "the prime minister will discuss during his visit to the United States the strategic framework agreement and the presence of foreign forces."

      He added, "The prime minister will also discuss the economic crisis that Iraq is going through, as well as the health crisis in relation to the Corona epidemic, in addition to joint cooperation between the two countries at multiple levels." While a member of the Parliamentary Foreign Relations Committee, a representative of the "Sairoun" coalition, Rami Al-Skiny, Al-Kazemi's visit to Washington "will achieve a kind of international balance."

      The deputy of the coalition, led by Muqtada al-Sadr, added that "Al-Kazemi's visit to Washington is one of the important visits on the international side to achieve a kind of balance in performance, and to support and strengthen the Iraqi interest."

      He added, "The visit will address many of the economic and political axes and the security dimensions that can be achieved on the Iraqi arena."

      He pointed out that "there is a performance that must be different for the prime minister, and this can only be achieved with a balance in the performance of the Iraqi government, and the lack of tendency for an axis without another," pointing out that "there are international axes that are reflected in the Iraqi arena, so it is necessary to have a balance and calm in The square, internally and externally, ”.

      Most of the Shiite political leaders, especially those with a military wing or an armed faction, share the opinion about the proximity of the Iraqi Prime Minister, Mustafa Al-Kazemi, to the American axis, and the danger of this to neighboring Iran, which is their most prominent supporter.

      The "Sayyid of the Martyrs" Brigades, one of the armed factions close to Tehran, considered that Al-Kazemi's upcoming visit to Washington would be pouring into the "Dissolution of the Popular Mobilization" channel and fighting the "Islamic Resistance" factions.

      The spokesman for the Kataeb Brigades, Kazem Al-Fartousi, told local media yesterday, Sunday, “The goal of the visit of the Iraqi Prime Minister, Mustafa Al-Kazemi, to the United States of America, is to give guarantees that the PMF will be dissolved. Iraqi - Iranian relations.

      And he believed that “Mustafa Al-Kazemi pledged allegiance to the United States of America, before he obtained the position of prime minister, and now he has started carrying out some actions in accordance with American interests, and will also work to fight the resistance factions,” threatening to say: “We will have real stops from these actions, if applied In reality".

      In spite of this, but the leader of the "Al-Fateh" coalition, Ghazanfar Al-Battikh, indicated that the pressure on the removal of US forces from Iraq has "receded".

      He added, "The Islamic Republic of Iran is the most concerned about the American presence in Iraq and the region," noting that "this presence constitutes a threat and danger, and may be a starting point for launching operations and strikes against Tehran," according to "Shafaq News".

      He indicated that "the pressure regarding the removal of US forces from Iraq has eased at the present time," noting that "there are personalities and political parties, who speak in another way at night and in the day."

      He added that "there are pressures from various parties to relieve pressure on the exit of American forces from Iraq, and these pressures from all sides, and it is not unlikely that there will be Iranian pressure on a group of factions to reduce pressure in this file at the present time, for the purpose of calming down with the United States of America." .

      In contrast to the Shiite position, the Sunnis and the Kurds agree on the importance of continuing the relationship between Baghdad and Washington in all files, relying on American support and adopting a balanced policy in relations with everyone.

      Member of Parliament, Zafer Al-Ani, saw that Iraq needs tangible American and international support in several areas, "Otherwise, the situation of Prime Minister Mustafa Al-Kazemi is difficult."

      And he added in a statement yesterday, that “the visit is undoubtedly important for both countries, but as the White House statement described it, it comes at a (critical time), and the criticality of time does not stem from the fact that the two presidents are preparing to run for the elections, but because it will test the extent to which the two sides are serious about a long strategic relationship. Long-term or breaking the bonds of this fragile alliance. He added, "The topics of the visit are important to us as Iraqis, as it will discuss security, economy, energy and health files," noting that "Iraq needs tangible American support in these areas that have become worrisome, and without this support, whether direct or by encouraging other countries to provide it, the situation will be Al-Kazemi made difficult and his chances of achieving his reform program are slim.

      Likewise, the head of the "Kurdistan Democratic Party" bloc, MP Vian Sabri, confirmed that Al-Kazemi's visit "is necessary in expanding cooperation relations between the two countries," while noting that it signals an improvement in relations between the two countries.

      Sabri told the official agency, "This visit is an indication of an improvement in relations between Iraq and the United States, especially since Al-Kazemi emphasized in his government program the importance of foreign relations with the countries of the world," noting that "relations are based on sovereignty, balance and cooperation." She added that "the visit is necessary to discuss bilateral files, to enhance coordination and security cooperation in the face of terrorism, and to health cooperation in the face of Corona, in addition to economic cooperation in the fields of investment and energy."
      Bright Besan
      Arab Jerusalem
      link
    • By DinarThug
      CNN. Broadcasting The Ninth Indicator That Iraq Is Back On Track - As Provided By The DV Members !
       
       
      Go Ahead And Jump On Out There With Ur Bad Self HorseSoldier...
       
       
      LINK
      Report: 8 indicators that Iraq is back on track

       
      6th August, 2020

      A report by the "Wall Street Journal" said that Iraq is finally back on the right track, although it is going through an unenviable situation at the present time as a result of the Corona pandemic and the conflict of regional and international wills within its territories.
      The report monitored several indicators cited by the American Brookings Institution confirming progress in many ways in the country from 2003 until today.
      First: The country's population has increased from about 25 million in the last years of Saddam Hussein’s rule to 40 million today. According to the newspaper, this in itself is neither good nor bad, but it does mean that Iraq is large enough to be an important player in Middle East politics.
      Second: The per capita gross domestic product has risen to nearly six thousand dollars compared to less than four thousand two decades ago. The newspaper report indicates that it is certain that there is still great poverty in Iraq, corruption is rampant, and job prospects for Iraqi youth are modest, but nevertheless, there have been positive economic developments.
      Third: Oil production has increased from about 2.5 million barrels per day in the last years of Saddam’s rule to about 4.5 million barrels now, and export revenues from oil have tripled on average since 2002.
      Fourth: The annual rate of internal displacement has more than halved since the defeat of ISIS. ISIS.
      Fifth: Many indicators of the quality of life have improved significantly over the past two decades. Cell phones, which were restricted to the Ba'athist elite, are now everywhere, and the total number of users is roughly equal to the population. The total internet users are now around 10 million.
      Sixth: Life expectancy increased from 67 years in 2002 to about 73 years today.
      Seventh: The number of modern sanitation facilities has increased, which now reaches more than 40 percent of the population, compared to 32 percent before 2003. More than half of the population has access to safe drinking water as well, although this issue still needs to be done. Greater efforts.
      Eighth: The literacy rate at the national level has increased from 74 percent at the turn of the century to 85 percent today.
      The Wall Street Journal report concludes that, however, there is still a long way to go for Iraq to achieve the desired political and economic stability, in light of the popular protests that erupted last year, high indicators of corruption and a decline in freedom of the press.
      The protests began on the first of last October and lasted for several months, during which hundreds of thousands of Iraqis demanded jobs and services and the departure of the ruling elite, which they said were corrupt.  The protests led to the resignation of Prime Minister Adel Abdul Mahdi, who was replaced in May by Mustafa al-Kazemi, the former head of the intelligence service.
      Iraq, which relies on oil exports for most of its revenues, has been suffering from corruption and mismanagement for many years and was ranked 161 out of 168 countries in Transparency International’s annual report on corruption for 2015. Iraq is currently ranked 156 out of 180 countries in the global rankings for freedom. The press, published by Reporters Without Borders.
      ############
      8 indications that Iraq is back on the "right track"    LINK
    • By DinarThug
      CNN. Broadcasting Off Of The Dollar Menu From A Baghdad McDonald’s - Super Size Me !
       
       
      An economist talks about what controls the dollar exchange rate in Iraq
       

       
      Economie 7/20/2020 19:41 441    

      Baghdad today - Baghdad
       
      Economist, Humam Al-Shamaa, on Tuesday (28 July 2020), talked about what controls the dollar exchange rate in Iraq and the effect of internal factors on it.
      Al-Shamaa said, in an interview with (Baghdad Today), that "the exchange rate of the dollar in local markets has nothing to do with the exchange rate of the dollar in global markets towards other currencies."
      He added, "What controls the dollar exchange rate in global markets are expectations, oil prices, gold prices and a relationship with the euro. As for Iraq, the relationship between the dollar and the dinar is controlled by internal factors related to the demand and supply of the dollar." 
      And Al-Shamaa said, "The decrease leads to higher prices, inflation and more problems for the poor classes, because the devaluation of the dinar means an increase in the value of commodities."
      The price of gold reached record levels yesterday, with a new drop in the price of the dollar in the global market at a time when investors rushed to buy it as a safe haven, amid concern about the tension between the United States and China and the rise in the number of cases of Covid-19 again around the world and the lack of progress in Washington on a new package To stimulate the economy. 
      After months of improvement in stock markets, driven by the trillions of dollars of support from governments and central banks, investors are rethinking the long-term economic implications of the emerging corona virus. 
      And at a time when the wide easing measures imposed by the Federal Reserve monetary dollar push the dollar against most of the other currencies, gold rises significantly, reaching a record level of $ 1944.71, which is much higher than the previous record level recorded in 2011 and reached $ 1921.18. 
      The focus is on the next meeting of the Federal Reserve to discuss its policies this week, as some expect that more measures will be imposed to boost the economy (probably negative interest rates), which is expected to increase pressure on the dollar and raise the price of the gold ingot to more than two thousand dollars. 
      There is also concern that recording worse-than-expected results in US gross domestic product for the second quarter of the year will cause major selling to the dollar, and while the weak dollar has been a major driver of the high price of gold, the matter is also driven by the attractiveness of the metal as a haven in times of turmoil, especially in light of the deterioration The relations between the United States and China day after day.
      Gavin Wendt, chief resource analyst at MineLife Consulting, said: “Strong gains cannot be avoided at a time when we are entering a stage similar to the atmosphere that prevailed in the aftermath of the global financial crisis as gold prices rose to record levels as a result of large amounts of Federal Reserve funds being pumped into Financial system, "and the dollar fell again against other currencies, while the euro reached its highest level since September 2018.
      LINK
    • By DinarThug
      CNN. Broadcasting From An Iraqi Border Crossing While A Herd Of Sheep Passes Thru To Iran - But The Guys Counting Them Keep Falling Asleep !
       
      Iraq begins paying its debts to Iran with goods
      07/25 2020 08:29:49 PM

       
      Baghdad / extent
       
       
      The Secretary General of the Iranian-Iraqi Chamber of Commerce Hamid Hosseini announced the establishment of a company in Iraq to settle Baghdad's debts to Tehran, which amount to about five billion dollars, according to a report published by Iranian websites.
      Hosseini told Farda radio that the company, which will work for the Iranian government, will purchase food commodities to pay off the debts. He explained that, based on a mutual agreement between the two countries, last month, Iran will provide the new company with a list of "commodities and raw materials" it needs, and the company will purchase and ship it to Iran. And Iraq owes Iran the money and gas it imports from it. The payment of Iraqi debts comes through goods, not cash, because Iran is subject to US banking sanctions, so Baghdad cannot transfer foreign currencies to it. According to Radio Farda, Iran is able to import goods only from Iraq, also because of the US sanctions. The Governor of the Central Bank of Iran, Abdel Nasser Hamti, announced, last month, from Baghdad, that Iraq had agreed to settle its debts, related to gas and electricity, to Tehran, by providing food and medicine.
      He said that the debt funds will be used, in the Iraqi Bank of TBI, to pay for the "commodities" that will be purchased by the newly established company. Iran's non-oil exports to Iraq, excluding electricity and gas, reached nine billion dollars in 2018, while its total imports from Iraq reached only 59 million dollars. Since the beginning of the Iranian calendar year, on March 21, 2019, Tehran has stopped publishing details of its foreign trade. It is worth noting that Prime Minister Mustafa Al-Kazemi held talks recently with Iranian leaders on his first official visit abroad since he took office in May.
      LINK
    • By DinarThug
      CNN. Broadcasting fundamental changes in the central bank during the coming period !
       
       
      Washington-Baghdad Dialogue: America wants to strictly implement the sanctions list
       
      7/21/2020
       


       
       
      About two weeks before the second session of the strategic dialogue between the United States and Iraq, in which Iraqi Prime Minister Mustafa Al-Kazemi is to participate, an Iraqi official revealed that Washington included a paragraph related to the names of Iraqi, Syrian, Iranian and Lebanese personalities that the US Treasury Department imposed sanctions on in the past two years. The paragraph is related to discussing the seriousness of the Iraqi banks ’commitment to not dealing with these names, as well as discussing some of them escaping sanctions through activities managed by relatives or agents in their favor. The source pointed out that the Al-Kazemi government is in the process of undertaking major reforms in this area, specifically within the Central Bank of Iraq, the body responsible for the matter.
      Al-Kazemi will participate in the second American-Iraqi dialogue session, during an upcoming official visit to Washington at the end of this July, according to what was previously revealed by Foreign Minister Fuad Hussein.
      US officials are convinced of the existence of fraud within Iraq, enabling those involved in the sanctions to continue their commercial and financial activities
      During the past two years, the US Treasury Department has continuously announced the announcement, and through official statements issued by it, on the inclusion of a number of Iraqi personalities and companies on the sanctions list, accompanied by convictions of them, related to what it says are crimes and violations in the field of human rights and financial corruption they committed, And also their cooperation with the Lebanese "Hezbollah" and the Iranian Revolutionary Guards. Among the most prominent of these names are the director of the “Islamic Bank of the Country”, the politician Aras Habib, the governors of Salahuddin and Nineveh, Ahmad al-Jubouri and Nawfal Hammadi al-Akoub, the politician Khamis al-Khanjar, the leader of the militia “Asa’ib” Qais al-Khazali and his brother Laith al-Khazali, and a leader in the “Popular Mobilization” Hussein Faleh Lami. This is in addition to the leader of the "Babylonian" militia, Ryan Al-Kildani, the leader of the "Shabak" militia, Waad al-Qud, and the "al-Nujaba" militia, Akram al-Kaabi.
      According to a senior Iraqi official, there are officials in the US Treasury Department convinced of the existence of fraud within Iraq, which enabled those involved in the sanctions, whether Iraqis, Syrians, Lebanese or Iranians, to continue their commercial and financial activities, and to obtain hard currency, which prompted the Americans to include a full paragraph In the second dialogue session, Baghdad calls for reforms to be made. The source pointed out that American officials accuse the government of Adel Abdul Mahdi of not responding to the sanctions, and of allowing many of those listed on its regulations to withdraw funds or transfer funds or carry out sales and purchases through agents and relatives, and with the knowledge of the Central Bank of Iraq and other local banks.
      The Iraqi official also revealed that the Al-Kazemi government will make additional pledges to tighten commitment to US sanctions, and to carry out reforms within the Central Bank of Iraq, and an investigation will be opened with the competent authorities to find out the real reasons behind the failure to implement decisions in this regard may expose Iraq to sanctions. The source acknowledged that there are political and factional influences (armed factions) linked to Iran on the central bank and on other oversight bodies, and that any commitment to the sanctions is considered by the authorities implementing the pressures as labor in favor of the United States.
      Al-Kazemi’s government will make additional pledges to tighten compliance with sanctions, and to carry out reforms within the central bank
      The source emphasized that for these reasons, Al-Kazemi intends to make fundamental changes in the central bank during the coming period.
      For his part, the former official at the Central Bank of Iraq, Mahmoud Dagher, in connection with the "new Arab", stressed his country's commitment to the American sanctions issued against the personalities and companies, stressing that "it is impossible for Iraq not to implement such decisions issued by the American treasury, nor will it risk Not to implement American decisions, as important. Dagher recalled that the Iraqi government "issued a circular to banks under the names of those who were included in the sanctions list, and transfers from them to them were stopped," stressing his country's commitment "to implement such a decision if it was issued against any party or person."
      The former official in the "Central Bank of Iraq" stressed that his country’s failure to implement the US Treasury Department’s decisions constituted an economic risk to Iraq and the Iraqis, which would stop all financial transfers to Iraq, and for this reason the bank is obliged to implement the sanctions issued against the Iraqi personalities, whatever they may be.

      On the other hand, a member of the Security and Defense Committee in the Iraqi Parliament, on the authority of the “Al-Fath” coalition, Karim Alaiwi, said that “his bloc is awaiting a position on the part of Al-Kazemi’s government regarding the rejection of unilateral sanctions against Iraqi personalities and entities.” It has the intention to hold talks with the American side about it, as it is political sanctions, and is not based on any realistic evidence. Aliwi said in an interview with Al-Arabi Al-Jadeed that the Al-Kazemi government should complete this task by rejecting any kind of sanctions that affect any Iraqi figure who is not convicted by the local judiciary, and working to remove names from any American list.

      But one of the members of the negotiating delegation in the first dialogue session, which was held via a television circle last month between American and Iraqi officials, assured Al-Arabi Al-Jadeed that the files of the second session were not definitively determined, and they may be comprehensive due to Al-Kazemi’s presence in Washington and his supposed meetings with senior administration officials. American, but he made it clear that it is primarily about terrorism and strengthening Iraq’s security and military capabilities, the financial and health crises, electricity and strengthening the rule of law, fighting financial corruption and threatening armed groups linked to Iran, and the American military presence. And he considered that the file of Iraq’s commitment to the sanctions imposed on Iran, and on various personalities and parties inside and outside Iraq, would be within the political file that is under discussion with the prime minister.
      Just deputies
      New Arab
      link
  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

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