Iraq Begins Paying Its debts To Iran With Goods !

[DinarThug]

Member of Parliament Finance warns the government: People will boil over the door if not all salaries are distributed before Eid

 

Economie 7/26/2020 18:17 343    
Baghdad today - follow up 

 

Member of the Parliamentary Finance Committee Jamal Cougar, the government and the central bank, cautioned against not completing the process of distributing the salaries of employees before the Eid, and confining them to categories without the other, indicating that they will face the people if any retreat occurs.

Cougar said in a televised interview I followed (Baghdad today) "We are at the beginning of the week and there is time for waiting to send a notice from the Ministry of Finance to banks to pay salaries to all employees: " 

The central bank announced last month that it had secured the salaries of June, July and August, and it should be Liquidity is available and the government has the borrowing law and it resorted to it and borrowed from the inside and therefore there is no justification for delaying the payment of salaries because liquidity is available. ”

He pointed out that“ the central bank is responsible for implementing its obligations to the people and the people should be reassured on a solid basis and we believe that lack of commitment It will bring people to a boil and put the government up against the people. "

On Sunday (July 26, 2020), the Rafidain Bank announced that it would begin distributing the salaries of the ministries and institutions of the endemic country, their salaries with the bank for the month of July through electronic payment tools. 

The media office of the bank stated in a statement received (Baghdad today), that "the salaries of employees of state ministries and institutions have been commenced from those who have received sukuk, financing their salaries and financial allocation with the bank." 

The bank indicated that "employees can receive their salaries from anywhere they are."

Earlier, economist Rasim al-Aqidi, on Sunday, put forward an option that would be an alternative to external and internal borrowing and achieve five benefits for Iraqis, the most prominent of which is the continuous provision of salaries.

Al-Aqidi said in an interview with (Baghdad Today), that "45% of Iraqi money is chunky in homes due to the lack of trust among citizens in government and private banks, in addition to the fact that government banks still adopt very traditional frameworks in depositing deposits and withdrawing them, making the citizen away from depositing His money. " 

He added, "The financial liquidity hoarded in the homes of Iraqis can be paid to deposit in banks by liberalizing the interest rate to mobilize savings and up to 10%, which will push many to deposit in banks, pointing out that this cash block will give the state flexibility in securing payment of salary dues without Any problems in addition to that it will give profit margin to civilians and reduce the repercussions of theft and give flexibility to the movement of markets because the banks will have a large liquidity for lending and project financing. " 

Al-Akidi said, "Most of the countries of the world adopt the automatic payment method and have paid to settle the salaries of their employees through current accounts in banks, meaning that the process of carrying cash is very limited and payment is made through automated payment cards as it will lead to legalizing the transfer of funds and prevent the financing of terrorism and the smuggling of money And reduce the windows of corruption. "

LINK

[DinarThug]

An economist presents an option that yields five benefits to Iraqis and secures employee salaries
 

 

Economie 7/26/2020 13:28 550 Editor: ta    
Baghdad today - Baghdad Today, 
 

Sunday, economist Rasem al-Aqidi proposed an option that would be an alternative to external and internal borrowing and achieve five benefits for Iraqis, the most prominent of which is the continuous provision of salaries.

Al-Aqidi said in an interview with (Baghdad Today), that "45% of Iraqi money is chunky in homes due to the lack of trust among citizens in government and private banks, in addition to the fact that government banks still adopt very traditional frameworks in depositing deposits and withdrawing them, making the citizen away from depositing His money. "

He added, "The financial liquidity hoarded in the homes of Iraqis can be paid to deposit in banks by liberalizing the interest rate to mobilize savings and up to 10%, which will push many to deposit in banks, pointing out that this cash block will give the state flexibility in securing payment of salary dues without Any problems in addition to that it will give profit margin to civilians and reduce the repercussions of theft and give flexibility to the movement of markets because the banks will have a large liquidity for lending and project financing. "

Al-Akidi said, "Most of the countries of the world adopt the automatic payment method and have paid to settle the salaries of their employees through current accounts in banks, meaning that the process of carrying cash is very limited and payment is made through automated payment cards as it will lead to legalizing the transfer of funds and prevent the financing of terrorism and the smuggling of money And reduce the windows of corruption . "

Yesterday, July 25, 2020, the Rafidain Bank called on citizens to deposit their money in the bank and obtain profitable financial benefits for them. 

The media office of the bank said in a statement received (Baghdad today), "Depositing the citizens’ money in bank branches and opening bank accounts for them corresponds to granting the benefits arising from it. " 

Elian added that "a lot of citizens are still hoarding their money in homes without success, and they should benefit from moving these funds in the banking sector, investing them, and attracting them to operate them in other sectors."

LINK

[screwball]

7 hours ago, DinarThug said:

LINK

Controls related to the capital adequacy standard for commercial banks according to the requirements of Basel III & II

 

26th July, 2020

Control standards related to the capital adequacy standard for commercial banks 
according to the requirements of Basel III & II ... For information click here


Translation of two page document......


To all licensed commercial banks m / the regulatory controls for the capital adequacy 
standard for commercial banks according to Basel requirements || & lll, and the list 
of the most frequently asked questions (FAQs), and attached to our notifications, 
numbered 9/2 420/24, dated 11/13/2018, the above controls, and with regard to 
that we would like the following statement: a. Scope of application: The 
commercial banks operating in the Iraqi banking sector must adhere to the regulatory
controls in relation to the criterion of capital adequacy as of the second 
semester / 2020, knowing that a transition period has been set up to a maximum 
of six months (including the second and third semesters / 2020), during which the 
banks By submitting its data in accordance with the controls in place regarding the 
capital adequacy criterion along with the new controls in parallel, with the aim of the
integrity of the systems and in a way that guarantees the grant of data, and thus the 
transitional period ends from the fourth quarter / 2020 and thus becomes the minimum 
for the capital adequacy criterion according to new controls.

In case of non-compliance with the minimum capital adequacy ratio according to the 
new regulations, this bank is provided with the dates of commitment to the minimum, 
and it is submitted no later than the end of November of (2020/11/30), with the 
exception of branches of foreign banks that will take with it criteria and procedure that 
is the capital adequacy ratio on a quarterly basis and the results are sent in conjunction 
with the quarterly budget or according to what this memorandum determines the method 
of receiving and sending 1) You will be provided with an electronic  version of the new 
controls and its calculation form, and  a list of frequently asked  questions (FAQs) via 
email to the Banking Performance  Analysis and Risk Control Department
(Analysis@cbiraq.in) Request to send the calculation results to the  Commercial 
Banking Supervision Department in the form of Paper and electronic  e-mail to the 
aforementioned section (supervision@cbiraq.info), in addition to  sending copies of 
copies only to the Banking Performance Analysis and Risk Control Department. 2020/71

 

now this is interesting...point 4

 

The most important issue came in the communications discussion session with the CEO of Ashur Bank through ZOOM:-

 

1- The net profits for the 2^nd Q 2020 was approximately IQD 7.4bn.

 

2- It is expected to distributed 2% dividend at the next GA meeting for the year 2019.

 

3- The bank’s future strategy is to go towards settlement operations and attract the deposits of state institutions for the purpose of granting credit to citizens with their salaries with the bank in addition to a strategy to support and give credit to small and medium projects SME’s from the grant of the Central Bank of Iraq.

 

4- Starting to reduce the bank’s deposits with external banks according to the instructions of the central bank from IQD 226bn 1^st Q to IQD 194bn targeting 20% of the capital or IQD 50bn end of this year.

 

5- The provision on bad debts is  93% was covered, to meet the requirements of the application of IFRS 9 and the application will be completed during this year.

[DinarThug]

The private sector in Iraq .. problems and solutions

Saturday 25 July 2020

Dr. Selwan Francis Youssef

Investing in industry, agriculture, and services

The projects of industry, agriculture, and services in the private sector are among the important tributaries of the economy in terms of providing products and services locally, not leaving the hard currency abroad, employing millions of employees and workers, and raising that from the shoulders of the government in appointing them. In order to reach the optimal solution in developing the sectors of industry, agriculture, and services in the private sector, the government and others should provide the following:

1 - Improving security in all governorates, restoring state prestige, and implementing laws that contribute to this.

2- Providing electricity to these sectors at reasonable prices.

3- Providing protection for the local product from foreign competition.

4 - The government’s assistance to the owners of various industrial and agricultural projects that stopped working during the past twenty years, which amount to more than 20 thousand projects, by giving them soft long-term loans and exempting them from taxes for ten years in order to restart their projects and provide the Iraqi economy with the products it needs and operate hundreds of thousands Employees and workers.

5 - Urging the governmental and private banks to cooperate with the owners of these projects and their investors.

6 - Implementing a one-stop shop system by investment agencies in different governorates and the National Investment Authority and controlling corruption therein.

7 - Implementing the joint investment system in the governmental financial industrial and agricultural projects, as well as privatizing a portion of the lagging projects belonging to the Ministry of Industry.

 

Construction sector

The construction sector is a basic engine of the economy, as it is included in the field of services, but it will use a lot of construction materials, devices and equipment, not to mention the employment of hundreds of thousands of skilled, unskilled and skilled workers and employees of all specialties. This sector will also provide housing units, of which Iraq needs more than 2.5 million housing units to overcome the housing problem and slums that have spread widely during the past years, not to mention infrastructure projects such as roads, bridges, railways, ports, and airports, as well as school buildings, universities, hospitals, and dispensaries ... etc. And for the success of the work of the contracting companies and the trade and construction of construction materials there are things that must be paid attention to, such as:

1 - Government agencies include many tenders to establish projects in budgets and provide the necessary funding for them.

2 - Pushing the rights of construction companies continuously and without delay so that the work wheel can be rotated smoothly.

3- Giving material and tax incentives for construction materials manufacturing projects and construction machinery and equipment.

4 - Facilitating investment transactions in residential and other projects in order to start work on establishing such projects, many of which were suspended due to obstacles placed in front of them.

Focus on modern technology

The joints of public life and industrial, agricultural and service projects have all become combined with the types of technology as an inseparable title as if they believed in Siamese. And any commercial, industrial, agricultural or service company has to operate with the types of technology available, especially digital ones, in order to keep pace with the local and global market. 

Among the technological aspects that must be taken care of by private sector companies are the following:

1- Information, digital systems and automation.

2 - 3D in the industry.

3 - Nanotechnology.

4- Artificial intelligence.

5 - Trade and electronic transactions.

The above matters began to invade the business world a while ago and will dominate it in all its aspects in the future. Therefore, the Iraqi private sector companies should pay attention to this matter in order to keep pace with the developments and development in the world in order not to remain at the bottom end.

 

Developing workforce capabilities

One of the important things in developing the private sector itself is developing the capabilities and capabilities of the workforce in the private sector. It requires the government to establish centers to train private sector employees and workers in all governorates to develop their capabilities in many areas, including, but not limited to:

1 - Administrative development.

2 - Trade Finance.

3 - Development of communications among individuals and the method of writing letters and commercial e-mails.

4- Marketing and sales. 

5- Commercial laws.

6- Taxes and customs tariffs. 

7- Shipping and logistics services.

8 - Developing Arabic and English language skills.

9 - Professional skills for employees and workers.

These centers prepare various short training programs for one day, several days, or months, using the help of university professors and lecturers with experience in administrative, commercial, industrial, agricultural, and service work. The focus is also on training courses that develop from the skills of unskilled workers to make them skilled workers contribute effectively to the labor market, while adopting successful experiences in other countries that are appropriate to the situation in Iraq.

The government must not forget to develop the capabilities of employees and workers in the government sector, which has become part of the failure of government performance to not prepare these workers for the jobs they receive and often hinder work because they are unaware of the basic aspects of their work. The failure of government sector employees will have a negative impact on the private sector; Because, as we mentioned above, companies and government departments are the customer and the first buyer of the private sector.

 

Incentives

The development of the performance of the employee or worker must be associated with the concept of reward and punishment. The reward depends on the material and non-material incentives provided that it is objective and linked to the professional evaluation of performance, as well as the personal view of the direct manager and the superior. And it should not only look at material incentives, because in many cases non-material incentives are more effective than material incentives and affect the employee or worker.

 

Final word

What we mentioned are problems caused by the government sector and the banking sector, and this does not mean that private sector companies are innocent of being in many cases a direct cause of their poor performance. Therefore, private sector companies should pay attention to their aspects of improving performance and recruiting and training employees and workers who can develop work in a positive and professional manner that is equivalent to what is applied in developed countries. Likewise, the current government in all of its ministries must draw up an integrated plan on how to assist the private sector in the advancement and provision of financial and non-financial assistance programs and pay the financial salaries of government departments and companies to private sector companies without delay, so that this sector absorbs many of the shocks facing the government and embrace Thousands of employees and workers.

We hope everyone will pay attention to this so that the private sector becomes an important anchor in developing the Iraqi economy.

LINK

[DinarThug]

Al-Shami suggests borrowing from the citizen and paying twice the amount

Monday 27 July 2020

 

 

Baghdad / Al-Sabah 

 

 

Economic expert Salah Al-Shami proposed a mechanism to attract the chunky cash block in homes to the banking system by borrowing from the citizen, and to pay twice the value of different services, thereby achieving interest to the citizen and the state, and he could also pay twice the amount after new borrowing directed to investment projects that benefit the country The loan amount has doubled.

 Al-Shami added that "this process must be carefully organized, and that borrowing is from the citizen who wishes and that depends on the number of family members, where a citizen can loan the state an amount of 300 dollars for each individual, and obtain a document worth 600 dollars for every individual Providing the loan, provided that the amount is refunded by paying bills for tax and electricity, and various collection transactions are deducted from this the amount".

 

Franchise chain

He pointed out that "the state must provide a series of concessions to the person who participates in such a loan program, through specialized committees working to draw a set of incentives that lead to the participation of the largest number of citizens in this great project," noting that "there should be Honest national departments for this project, which enhances the financing capabilities of all projects. "

 

Project financing

He stressed, "The possibility of directing this borrowing money towards both stalled and new projects, and represents a step to address the problem of project financing due to the financial hardship that the country suffers due to the lack of multiple financial resources and dependence on The oil rent. "

Al-Shami said: "Doubling the amount is reduced for the citizen when he pays the dues he owed to the state, especially since this is appropriate for a large number of citizens who have continuous dealings with 

Country".

Funding aspects

Al-Shami warned, "The importance of working to find mechanisms to attract the chunky cash block in homes to the banking system, which contributes to filling the financial deficit that occurs in the financing aspects, as well as doubling the amounts to the citizen, thereby achieving interest for the citizen."

LINK

[DinarThug]

In the document: Urgent request from Parliament to the Cabinet regarding daily contracts and wages

 

Localities 7/26/2020 17:51 555    
Baghdad today - Baghdad 

 

Member of the Presidency Council in the House of Representatives, Hassan Karim Al-Kaabi, submitted today, Sunday, an urgent request to the Council of Ministers regarding contracts and daily wages. 

Al-Ka’bi’s office stated, in an explanation of the request, (Baghdad Today) received a copy of it, that the latter “addressed Prime Minister Mustafa Al-Kazemi about setting a fair and clear road map to solve the problem of contracts and daily wages.” 

Hassan Al-Kaabi stressed the readiness of "the parliament to fully coordinate to develop a final and radical solution to the problem of contracts and wages through 3 three measures."
 

LINK

Edited July 27, 2020 by DinarThug

[screwball]

8 minutes ago, DinarThug said:

Economic expert Salah Al-Shami proposed a mechanism to attract the chunky cash block in homes to the banking system by borrowing from the citizen, and to pay twice the value of different services,

only one way...change rate

[DinarThug]

16 minutes ago, DinarThug said:

attract the chunky cash block in homes to the banking system

Does This ‘Chunky Cash’ In My Back Pocket Make My Butt Look Wide ?  

 

Perhaps I Should Try A More Slimming Pants Color ...
 

 

And One That Doesn’t Over Emphasize My ‘Cheek’ Bones ...
 

     

[Mary B]

Parliament adds the Minister of Finance to reveal the reasons for delaying salaries and the budget

July 26, 2020

 

Al-Rafidayn electronic payment of the dues for the month of July

Parliament adds the Minister of Finance to reveal the reasons for delaying salaries and the budget

Baghdad - Abdul-Latif al-Musawi

 

And retired). The Rafidain Bank began distributing the salaries of the ministries and institutions of the endemic state for their salaries for the month of July through electronic payment tools. The media office of the bank said in a statement received (time) yesterday that (the salaries of employees of state ministries and institutions from those whose bonds and financing of their salaries and financial allocation with the bank were initiated) He added (employees can receive their salaries from anywhere they are). And the Central Bank of Iraq issued a statement on what is going on on social media and the media on the Libyan dollar.

https://www.azzaman.com/البرلمان-يضيف-وزير-المالية-لكشف-أسباب/

 

[Mary B]

Watch ... America is blocking projects to develop the electricity sector in Iraq

 Monday 27 July 2020

 

 In conjunction with the heat wave and rising temperatures in Iraq, the electricity outage crisis was renewed in the southern cities. Some observers believe that the continued power outages are a new challenge for Al-Kazimi's government.

 

The World - Reporters

After months on the stability of the electrical current in southern Iraq, the crisis renewed, and hours of preparation declined in conjunction with the heat wave and the rise in temperatures to more than fifty degrees Celsius, which observers and activists saw as a challenge to the government of Prime Minister Mustafa Al-Kazemi, while many held the United States of America responsible for obstructing development projects Energy in the country

Iraqi politician Star Al-Mansouri said: "The electricity crisis annually is repeated, and this crisis has become close to the Iraqi society, especially in Basra Governorate, which is witnessing a large rise in temperatures. Iraq can produce more energy in cooperation with the Siemens company, but the intervention of the United States of America in this aspect prevented completion. The contract with this company where America wanted to impose on the Iraqi government to take over the General Electric Company electrical file and therefore there is no exit from this dark tunnel. "

The unprecedented rise in temperatures pushed a number of citizens of the southern city of Basra to swim in the waters of the Shatt al-Arab, to escape the crisis of fluctuation of electric current

Observers warn that the continued decline in the average hours of supplying electricity with increasing temperatures may cause the protests to return again in several cities of the country.

Iraqis are trying to deal with the crisis of electric current and rising temperatures in various ways. Swimming in rivers is one of these methods that would alleviate their suffering.

 

https://www.alalamtv.net/news/5067676/شاهد--أمريكا-تعرقل-مشروعات-تطوير-قطاع-الكهرباء-بالعراق

[Mary B]

Parliamentary Finance for "NINA": The salaries of employees and retirees are insured until the end of the current year

Monday 27, July 2020 

Baghdad / Nina / The Parliamentary Finance Committee affirmed securing the salaries of employees and retirees until the end of this year.

The reporter of the committee, MP Ahmad Al-Saffar, said in a statement to the Iraqi National News Agency / NINA : "The economic and health situation as a result of the Corona epidemic, he called the House of Representatives to accept internal borrowing according to certain conditions, including the government's submission of a financial reform paper in a period not exceeding 60 days, and strengthening Resources, stopping wasting public money, controlling outlets, and not relying entirely on oil. " Ends 8

http://ninanews.com/Website/News/Details?Key=846263

[DinarThug]

LINK

Parliamentary Finance: Parliament will receive the 2021 budget in October .. This is the fate of 2020

 

 

7/26/2020 22:00:25

 

Member of Parliament’s Finance Committee, Mahasin Hamdoun, revealed the handing over of the 2020 budget to the House of Representatives next October.

 

Hamdoun assured {for Al-Furat News} about “starting work in the budget of 2021 and the Ministry of Finance developing a strategy for it,” noting that “it will be delivered to the parliament in October, which will be studied and approved early.”

She said that "voting on the budget of 2021 early to avoid deficits and confusion in the work of the government and ministries", pointing out that "there is no budget for 2020". "The salaries of the employees were released today because of the liquidity of the internal borrowing money, which was set at 15 million trillion dollars, in addition to the high oil prices that will help provide cash liquidity for the next 3 months," she added.

The Rafidain and Al-Rasheed bankers announced earlier today the launching of salaries for employees in all ministries and government institutions for the current month of July.

[DinarThug]

LINK

The government and parliament are considering approving two budgets

 

27th July 2020

A member of the Parliamentary Finance Committee revealed, on Monday, that an upcoming meeting will be held between the committee and the Minister of Finance to discuss the approval of the budget law this year.

Committee member Sherwan Mirza said, "The committee is awaiting a meeting with the Minister of Finance in the Federal Government, Ali Abdulamir Allawi, to discuss a number of files between them, the file of the public budget."

He added, "The committee should discuss with the Minister of Finance my two draft legal budgets for the current year and the next year," expressing his belief that there will be no federal budget law for the year 2020, and the government will complete this year according to the Financial Management Law and disburse the ratio (1/12) per month According to the budget law for the past year.

He indicated, "The Finance Committee is currently awaiting a date for the meeting with the Minister of Finance," noting that "the meeting will most likely take place after the Eid Al-Adha holiday." 

[DinarThug]

LINK

What is the fact that the permanence of official hours is
suspended? 

 

7/27/2020 17:23:41
 

The General Secretariat of the Council of Ministers revealed today, Monday, the fact that official working hours are suspended due to the high temperatures in the country.
 

The secretariat said in a brief statement received by {Al Furat News} that "we have not issued any decision regarding the disruption of official working hours due to the high temperatures so far."

[DinarThug]

LINK

The Iraq Stock Exchange suspends its activities for 12 days

 

27th July, 2020

The Iraq Stock Exchange announced, on Monday, that it will suspend its activities for 12 days on the occasion of Eid Al-Adha and a curfew.

The market said in a statement received to Shafaq News, "In compliance with the timing of the official holiday declared in Iraq, the market administration decided not to organize trading sessions for the days of July 29 and for a period of 12 days to coincide with the Eid al-Adha holiday."

And the market added, "The first trading session in the Iraq Stock Exchange will be as of Sunday, 9/8/2019."

It is noteworthy that the Iraq Stock Exchange has used electronic trading systems and central depository since 2009 and seeks to launch an online trading system for investors, and organizes five trading sessions per week from Sunday to Thursday, and it includes 105 Iraqi joint stock companies representing the sectors of banking, communications, industry, agriculture, insurance, financial investment and tourism And hotels.

[DinarThug]

LINK

An independent deputy ruled out Al-Kazimi's economic advancement and confirms: Iraq is living in its worst period

 

 

09:00 - 27/07/2020
 

The independent deputy, Bassem Khashan, said that Prime Minister Mustafa Al-Kazemi should make the budget a priority in the laws that he presents to parliament, pointing out that Al-Kazemi lacks the idea to advance the country economically and therefore Iraq is living in its worst periods.

Khashan told (Information), that "the budget law is the first law that the government must present to the parliament in order to implement the government program and cover its costs."

He added, "There is acceptance of Al-Kazemi's decisions and actions by some groups who are not aware, even though Iraq is going through the worst stages of the Iraqi state."

And between "Iraq needs a conscious, capable person who has an idea of politics," pointing out that "Al-Kazemi does not have the ability to express himself and lacks culture or idea to advance the state economically, and his stage will be the worst in the history of Iraq." 

[DinarThug]

LINK

The central bank issues a decision regarding premiums due on government and private banks

 

 

7/27/2020 14:16:45

 

The Central Bank of Iraq decided, on Monday, to postpone the payment of premiums due to government and private banks for the five trillion dinars and one trillion dinars initiatives for a period of three months.
 

A statement issued by the bank, "Al Furat News" received a copy of it, that "due to the persistence of the exceptional circumstances and the accompanying procedures for complete and partial closure due to the Corona pandemic and the total or partial stalemate it left in most of the economic sectors that still affect economic activity and which cast its shadow on Owners of small, medium and large projects and the residential sector, so this bank decided to postpone the payment of premiums due to government and private banks for the five trillion dinars and one trillion dinars initiatives for an additional three months.

The statement added, "This will be from the date (July 1, 2020 to September 30, 2020) and transfer it to the end of the loan term, and pass this delay on to borrowers in a way that does not leave behind any interest or delay commissions."

 

###########

The central bank postpones the payment of premiums due to the Five and One initiatives, one trillion dinars  LINK

[DinarThug]

LINK

Parliamentary economics calls for amending the investment law

 

27th July, 2020

 

On Monday, the Parliamentary Economic Committee called for amending the investment law to match the current situation

Committee member Nofal Al-Naseen said, "There are many demands for a parliamentary session to discuss the situation in the country, and some MPs have collected signatures to hold it

The youth added, “The various parliamentary committees continue to study the laws, discuss them, and provide them ready for reading and voting for the council once the sessions are held,” noting that “the economic committee follows the economic developments in the country and supports the laws that contribute to moving the Iraqi economy

The youth stressed the need to "amend the investment law according to the requirements of the stage in order to revive the Iraqi economy in addition to activating the investment properly will secure work for unemployed hands and contribute to reducing unemployment", calling for "activating the partnership between the public and private sectors in order to move the economy

##########

The Economic Committee calls for amending the investment law   LINK

[Rochester]

22 hours ago, DinarThug said:

Aside From The Obvious Cash Flow Issues (For Numerous Reasons) ...

 

 

One Of The Causes For The Delay In The Payment Of The Salaries ...
 

 

Was To Identify All Of The Corrupt Multiple Salaries That Multitudes Of People Were Receiving !  
 

 

Some Of Whom Had Three, Four And Five Different Salaries Going To The Same Corrupt Person ...

 

 

And Combined With Over 100 Days Off Annually From All Of The Holidays For Everybody Anyways...

 

     

I hear the Democrat Party is recruiting Iraqis to vote by mail in the coming American Election. They are going to pay them for every vote cast for Joe Biden. Iraqis have the skills! Many receive 5 Salaries, while the country is broke! The Iraqis are some of the best crooks he ever met, said President Trump once. Seems like a natural. Might be a new source of revenue for Iraq. 5 Million new votes from guys named "Muhammad"  😅😁😏

[DinarThug]

LINK

A new statement from Rafidain regarding employee salaries

 

27th July, 2020

The Rafidain Bank announced, on Monday, that it will continue to pay the salaries of employees of a number of ministries and state institutions for the month of July through the MasterCard and the National Authority for their salaries with the bank.

"The salaries of a number of departments have been raised and completed in a short period of time," the media office of the bank said in a statement.

He pointed out, "The employees can receive their dues from our network of branches located in Baghdad and the provinces or through the exchange outlets while following the health procedures from the Corona virus."

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

Rafidain Bank announces that it will continue to pay employees salaries electronically    LINK

[DinarThug]

Show Me The ‘Chunky Money’ !  

 

     
 

 

LINK

Parliamentary Finance proposes a roadmap to end “chunky money” in homes

 

 

20:12 - 27/07/2020

 

Member of Parliamentary Finance Committee MP Jamal Cougar, on Sunday, presented a road map to end the file of hidden funds in homes.

Cougar said in an interview with the "information", that "a large percentage of Iraqis intend to hoard money in homes and not deposit it in banks, whether financial or private for multiple reasons, stressing that compactness is a mistake and has significant economic damage."

He added that "pushing the government to adopt electronic payment through a smart card for all the salaries of its employees and to make dealing with it as a unified framework through the disbursement of loans and depositing receipts for the money to the departments will pay the citizens to transfer their money to the electronic trading file in paying its expenses, whether for government departments or the private sector."

He pointed out that "the file of the hoarding of funds will end up due to the road map that he put forward, which is the most influential and approved in almost all countries of the world, especially those with developed economies, pointing to the proposal to raise the interest rate has an impact, but our society is Islamic by 90% and does not interact with interest profits."

Iraq suffers from a large proportion of the money siphoned in homes despite the presence of dozens of government and private banks due to lack of confidence in them.

[Mary B]

The Council of Ministers decides to spend 75 thousand dinars for the poor in social welfare

18:53 - 7/28/2020

 

  

The information / Baghdad ..

Cabinet spokesman Ahmed Mulla Talal announced, on Tuesday, that the council decided to dispatch a holiday for poor families on the occasion of Eid al-Adha.

Mulla Talal said, in a press conference that followed him / the information, "The cabinet approved the payment of a 75 thousand dinars for the poor segment of the social welfare on the occasion of Eid al-Adha."

He added, "The Cabinet decided to cancel the debts owed by the 17,552 families who received social protection benefits." It's over 25 hours

 

https://www.almaalomah.com/2020/07/28/487284/

[3n1]

 

38 minutes ago, Mary B said:

Council of Ministers decides to spend 75 thousand dinars for the poor in social welfare

 

75,000 iqd = 63 usd ..... Thanks Maryb

[DinarThug]

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Granting license to the Basket Exchange Company Ltd. / Maysan under category (B)

 

28th July, 2020

To / Basket Exchange Company Ltd. / Maysan ( granting leave )

 

Number: 9/5/8944

Date: 7/21/2020

 

Attached herewith the license to practice work as a limited exchange company under category ( B ) in the name of the Police ( Basket Exchange ) numbered number ( 6 ) for the year 2020 granted in accordance with the provisions of Article ( 4 ) paragraph ( 2 ) of the Central Bank of Iraq Law No. ( 56 ) of 2004 and the Anti-Law Money laundering and terrorist financing No. ( 39 ) for the year 2015 and the effective controls, and the company shall be subject to the supervision and supervision of this bank.

Approval of appointing Mr. ( Muntazer Mohsen Ahmed ) as Managing Director and Mr. ( Karar Riyad Salam ) as his assistant and appointing Mr. ( Rakan Taha Hatim ) as compliance observer and Mr. ( Abbas Atef Hanin ) as his assistant and Mrs. ( Nour Saad Abdel Nabi ) as director of supervision and auditing provided full time Complete these positions and not be administrative in another company.

Comply with the regulations of the exchange companies in force.

[DinarThug]

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Communications Minister: We Are Preparing To Launch The First Project In The "Digital Economy"


 

28th July, 2020

Communications Minister Arkan Shihab Ahmed revealed the launch of the "digital economy" project, while he mentioned a project to install a million cameras in Baghdad.

Ahmed said in a press interview followed by the independent today, Tuesday, “We are preparing soon to launch the first project in (digital economics) in cooperation with the Department of Justice in the Ministry of Justice through the implementation of private or public agencies electronically, through the presence of a device that provides you with a number of windows and then review after The number appearing on the paper appears to complete all the operations related to that, and the possibility of canceling it from anywhere if the citizen so desires.

He added, “The other project is the possibility of booking flights via a mobile phone as it is in the countries of the world and deducting its sums from (Visa Card) and providing internet with the flight and deducting its amount from the card,” stressing that “the cost of providing this service does not exceed 2-3 Dollars. ”

The Minister of Communications pointed out, "The possibility of implementing a new security project for surveillance in the capital Baghdad by installing cameras on a million columns equipped with energy and optical cable," noting that "this project can monitor any terrorist or criminal act or cases of harassment or theft and even tribal and other problems." ”

Ahmed indicated that "the ministry is still working on the FTTH optical cable project, which can connect a lot of services via the landline phone for this project," stressing, "The ministry needs 6-12 months if it starts after the Eid holiday," explaining that " The ministry was able to save 29 million dollars in the "Baghdad Correspondence" project, which was previously suspended, as the ministry has completed 90 percent of it until now. "

The Minister of Communications stressed, "After starting the (shock) operations to eliminate internet smuggling in some governorates, the internet capacity in Nineveh Governorate increased from (half to one term to 9 days), where each equals G10."

He added, "arrest warrants will be issued shortly against 22 people, including 11 people who held a meeting to block the progress of these operations through pressure on influential personalities." The arrest of those personalities and the recognition by some of them of some of those involved in these operations.