Iraq renews its desire to open up to the international community, both economically and commercially

Baghdad – Mawazine News, Secretary-General of the Council of Ministers, Hamid Al-Ghazi, discussed, on Monday, with the Italian ambassador to Iraq, the results of the Prime Minister’s visit to Rome, while stressing the government’s desire to open up to the international community, economically and commercially.

A spokesman for the General Secretariat of the Council of Ministers, Haider Majid, said in a statement received by Mawazine News that “Al-Ghazi met the Italian ambassador to Iraq, and discussed with him the results of Prime Minister Mustafa Al-Kazemi’s visit to the Italian capital, Rome.”

He pointed out that “the Secretary-General of the Council of Ministers renewed, during the meeting, the Iraqi government’s desire to open up to the international community in the economic and commercial fields.”

Mawazin.net

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News From The Central Bank Of Iraq

The Independent/ The Central Bank of Iraq announced, on Tuesday, that its funds are “fortified” by an American decision, “and no party can seize them.”

The bank stated in a statement, that the legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them, and also confirmed that they will defend its immunity with the rest of the countries and these reserves cannot be compromised.

The Governor of the Central Bank is accompanied by the head of the Iraqi government in the delegation in Washington.

The bank added, “Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, as this will lead to the lifting of international immunity from Iraq’s funds abroad and it will be subject to implementation by some creditors from other parties and companies.”

He also added that those American legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.

Mustaqila.com

Reuters: Biden and Al-Kazemi will sign an agreement that officially ends the combat missions of US forces in Iraq by the end of 2021

Baghdad today – US President Joe Biden and Iraqi Prime Minister Mustafa Al-Kazemi will sign an agreement officially ending the combat missions of US forces in Iraq by the end of 2021, more than 18 years after sending US forces to the country.

With the decision to withdraw the last US troops from Afghanistan by the end of August, the Democratic president will conclude US combat missions in the two wars started by former President George W. Bush.

It is scheduled to meet Biden and Al-Kazemi in the Oval Office in the first direct talks between them as part of a strategic dialogue between the United States and Iraq.

A statement will be issued after the meeting to announce the end of US combat missions in Iraq, a senior Biden administration official said.

There are currently about 2,500 US soldiers in Iraq, whose missions are to confront the remnants of the Islamic State. And the US role in Iraq will change completely to being limited to training and advising the Iraqi army.

The shift is not expected to have little effect because the United States is already focusing on training Iraqi forces.

Baghdadtoday.news

Al-Fateh Alliance welcomes the ‘national achievement’ made by the Iraqi delegation in Washington

The Al-Fateh Alliance, led by Hadi Al-Amiri, welcomed, on Tuesday, the “national achievement” made by the Iraqi delegation during the strategic dialogue round with the United States of America.

The coalition said in a statement received by “Nass” (July 27, 2021), that it “welcomes the national achievement of the Iraqi negotiator by agreeing to the complete exit of combat forces at the end of this year, and considers it a positive and advanced step towards achieving full national sovereignty.”

The coalition statement added, “We hope that the concerned officials in the Iraqi state will follow up the implementation of what was agreed upon in a practical way, and all thanks and appreciation to the Iraqi negotiator for this national achievement.”

On Monday, the leader of the Sadrist movement, Muqtada al-Sadr, called for the cessation of military action by the “resistance” until the completion of the withdrawal of US forces.

Al-Sadr said in a blog post, seen by “Nass” (July 26, 2021), “Thank you to the Iraqi national resistance, as the occupation announces the start of the withdrawal of all its combat forces, let us wait for you to complete the withdrawal. And thanks for the efforts made to crystallize this agreement, especially Brother Al-Kazemi.”

He added, “Knowing that we have stated conditions in the past, and with their realization, the military action of the resistance must be halted at all… and seeking to support the Iraqi security forces, including the army and the police, to restore security and extend it on Iraqi lands and to banish the specter of terrorism, violence, intruders and pretenders of resistance.”

US President Joe Biden had assured the Iraqi Prime Minister, Mustafa Al-Kazemi, that the combat mission of the US forces had ended and the start of a new phase of military cooperation.

Al-Kazemi said, during his meeting with Biden (July 26, 2021), “I am pleased with the continuation of cooperation between Baghdad and Washington,” stressing that “our relations have many health, cultural and other aspects.”

“Partnership with the United States is strategic,” he added.

Biden said, “We will send 500,000 doses of vaccine to Iraq,” noting that “his aspiration is for the Iraqi elections.”

Biden added, “We want to continue to support Iraq in intelligence,” noting that “the American role in Iraq will focus on training assistance and what is related to ISIS.”

The US President stressed that “the US-Iraqi partnership continues, and my administration is committed to it, and we are committed to security cooperation and confronting ISIS with the Iraqi government.”

US President Joe Biden also announced Monday that the United States will end by the end of the year its “combat mission” in Iraq to begin a “new phase” of military cooperation with this country.

Nasnews.com

Iraqi Central: Washington pledged to protect our money deposited abroad

The Central Bank of Iraq said, on Tuesday, that the legal authorities in the United States pledged to continue to protect the Iraqi funds deposited in its banks and the banks of other countries, in conjunction with the near completion of the country’s payment of all debts incurred before 2003.

The Central Bank added, in a statement, according to the agency. Anatolia said, “The American legal authorities assured the bank that all its reserves and funds are fortified, and no party can seize them, and that they will defend its immunity with the rest of the countries.”

In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait.
Meanwhile, Baghdad recently announced that it is determined to repay the debts owed to it before 2003.

Debts owed to Iraq before the 2003 war, to countries such as Kuwait and the Paris Club, in addition to bilateral debts with countries and companies, which have not been paid and their interests have accumulated until today.

Foreign companies had submitted complaints to collect financial compensation estimated at millions of dollars for the disruption of their activities in the country or debts owed to them by the government at the time, according to Iraqi officials, dating back to the period before 2003.

But the Iraqi authorities say that these compensations have no legal basis, and they have not been decided upon. . Iraq has so far paid about $50 billion, according to the United Nations, and the decision requires Iraq to deposit 5 percent of its export earnings from sales of oil, oil and gas products, in a UN fund established under the name of the United Nations Compensation Fund.

And government officials had revealed earlier, that the internal and external debts owed by Iraq amount to about 73 billion dollars, payable, in addition to 40 billion outstanding for eight countries.

And the financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, revealed in previous statements that “Iraq’s internal debt is about 50 billion dollars.”

Last June, the Iraqi Ministry of Justice revealed that it had taken accelerated steps to recover the country’s frozen funds abroad that date back to the era of the late President Saddam Hussein (1979-2003).

Iraq’s funds abroad were frozen after the United Nations imposed stifling economic sanctions on Baghdad, as a result of its invasion of Kuwait in the early 1990s.

Iraq is going through a stifling financial crisis resulting from the drop in global oil prices, since the beginning of the global outbreak of the Corona epidemic, and the spread of corruption, as the Iraqi authorities estimate that 150 billion dollars have been smuggled from corruption deals abroad since 2003, according to what the Iraqi President Barham Salih announced on May 23 / last May.

Alaraby.co.uk

Immunity of Central Bank of Iraq funds abroad

The legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and no party can seize them. They also confirmed that they will defend its immunity with the rest of the countries and these reserves cannot be compromised.

As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it prior to 2003, this will lead to the lifting of the international immunity for Iraq’s money abroad and it will be subject to implementation by some creditors from other parties and companies.

In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.

Central Bank of Iraq
Media Office
27 July 2021

https://cbi.iq/news/view/1778

AL-RAFIDAIN ANNOUNCES NEW INSTRUCTIONS FOR CITIZENS WISHING TO OPEN SAVINGS ACCOUNTS

Baghdad / National News Center: Al-Rafidain Bank announced new instructions to facilitate procedures for citizens wishing to open savings and current accounts to deposit their money in the bank.

And the bank’s media office stated, in a statement received by the “National News Center”, that “the bank canceled the requirement to see the definition for customers who wish to open current accounts, with the aim of attracting the largest number of customers, with a commitment to applying the principle of knowing your customer and taking due diligence measures.”

The bank renewed, “its emphasis on the obligation to submit one supporting document when opening savings and current accounts.”

He explained, “The unified card dispenses with the rest of the documents, and there is no need to wait for the validity of its issuance, while adopting the civil status identity, passport, housing card, or housing support for those who were not issued a unified card.”

Nnciraq.com

Al-Kazemi’s advisor: There is no change in the dollar exchange rate

Shafaq News/ Mazhar Muhammad Salih, the economic advisor to Prime Minister Mustafa Al-Kazemi, stressed on Monday, not to rely on oil prices because they are unstable, to change the dollar exchange rate against the Iraqi dinar.

Saleh told Shafaq News Agency, “The dollar exchange rate is fixed and there is no change in it, and any increase or decrease in the exchange rate in the market from the specified price is due to the process of demand for the currency.”

He added, “If there is a change in the exchange rate, this is due to the improvement in oil prices in the long run,” stressing that “oil prices are not fixed and may rise or fall during the coming period.”

Shafaq.com

Parliamentary Energy announces the transfer of the oil and gas law to the next session

Baghdad / Al-Mawrid News: Today, Monday, the Parliamentary Oil and Energy Committee determined the extent to which the oil and gas law can be legislated in the current parliamentary session.

Committee member Sattar al-Jabri said, in a press statement, that “the oil and gas law is one of the strategic laws and it is difficult to resolve it in the current parliamentary session,” stressing that “it will be transferred to the next parliamentary session.”

Al-Jabri called for “making the law among the priorities of the next council, as it achieves social justice by distributing wealth to the people of the same country without discrimination of components or regions.”

The Oil and Gas Law establishes a system for managing oil operations in Iraq, taking into consideration the existing international agreements between the Republic of Iraq and other countries regarding the transportation of crude oil.

It also aims to define the basis for cooperation between the concerned ministries in the federal government, as well as to establish a base for coordination and consultation between the federal authorities and the authorities of the oil-producing regions and governorates.

Almawrid.news