The Federal Court decides to stop the procedures for Zebari’s nomination for the Presidency of the Republic

{Political: Al Furat News} The Federal Supreme Court decided to stop the nomination procedures for the leader of the Kurdistan Democratic Party, Hoshyar Zebari, for the presidency.

Today, the court held its deliberative session on the state order regarding the nomination of Zebari for the presidential post.

A document revealed an investigation by the judiciary, accusing Zebari of a case of disbursing money in violation of the law, according to a document issued by the judiciary.
The document included the {Euphrates News} Agency obtained a copy of it, that Zebari spent more than 3 billion and 771 million dinars as rents for a number of employees and protections of the Ministry of Foreign Affairs during his tenure of the ministry despite the objection of the administrative authorities to the exchange.

The judiciary informed the Federal Supreme Court in the investigation, where he indicated that {Zebari} issued a summons order against him in the case and he did not attend so far.

Alforatnews.iq

The Central Bank of Kuwait allows applications to establish digital banks

Economy News – The Central Bank of Kuwait announced the opening of the door to receive applications for the establishment of new banks that provide their services completely digitally through a general banking license. It also allowed existing banks to form a digital banking unit within the bank without the need for a new license .

The Central Bank has given those wishing to establish this type of bank a deadline to submit their applications, which ends on June 30, indicating that the results of the submitted applications will be announced at the end of this year 2022, according to what was stated on the bank’s website today, Monday .

The Central Bank clarified that this decision comes as part of the bank’s endeavors towards accelerating the digital transformation process at the level of the Central Bank and the banking and financial sector, and a number of steps were announced that would start a new era of digital banking and financial work .

In the context of supporting and enabling financial technology companies (Fintech) , the Central Bank is currently working on updating the regulatory framework for the work of these companies in the areas of payments, microfinance and the experimental regulatory environment .

This came during a virtual meeting entitled “Empowerment and Empowerment” held by the bank today, Monday, during which it shed light on the Central Bank of Kuwait’s digital strategy with the aim of achieving further development in analytical tools and accelerating the digital transformation process .

In a video broadcast by the Central Bank on its website, Muhammad Al-Khamis, Director of the Office Supervision Department at Bank of Kuwait, said:
The Central Bank said that the bank has completed the development of a framework for digital banking “with the aim of stimulating innovation,” noting that this framework allows the provision of digital banking services according to three models of digital banking .

Economy-news.net

Al-Kazemi’s advisor clarifies the most important tasks of the Financial Management Law

Mawazine News – Today, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed the fate of salaries, pensions, and grants, with the delay in approving the general budget for the fiscal year 2022, while clarifying the most important tasks of the Financial Management Law.

Saleh said, “The effective financial management law is one of its first tasks to secure the actual current expenses with an average exchange base of 1/12,” noting that it is “an important mechanism guarantor of payments of a recurring, actual nature, specifically salaries, wages, government grants, pensions and social welfare without stopping, even if the approval of the budget is delayed. “

He added, “The adoption of the Federal General Budget Law for the year 2022 is a fundamental goal in planning economic policy and its essential pillar, as it is linked to the issue of growth in the economy.”

He pointed out that “the budget has an important function, which is to ensure the achievement of a prosperous level of GDP that exceeds the annual population growth, and this can only be achieved by advancing the added or new production capacities approved by the investment budget towards income-generating and employment projects.” Ended 29 / p. 87

Mawazin.net

The Move Towards Collecting Signatures To Change The Exchange Rate

Information / Baghdad.. The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to “The Information”, “The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price.”

She added that “the framework’s movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved,” noting that “the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price.”

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar.

Almaalomah.me

Sovereignty Alliance: Barzani’s initiative will achieve success, and this is its main goal

Shafaq News / The Sovereignty Alliance, led by Khamis al-Khanjar, which includes Sunni political forces, affirmed on Wednesday that the initiative of Kurdish leader Massoud Barzani will achieve success in resolving the political crisis.

The leader of the coalition, Amjad al-Dini, told Shafaq News Agency, “Barzani’s initiative came in order to find a breakthrough for the political crisis that Iraq is witnessing, and we believe that this initiative will meet with success in the near future.”

He revealed that “there will be an expanded meeting of all political forces (Shiite, Sunni, Kurdish), to find a real solution to the political crisis in the near future.”

The leader of the Sovereignty Alliance added, “We believe that the scene will be the closest to the political scene that it was in during 2018, meaning that the political forces will be divided into two parts, then the formation of a new government that includes all political parties.”

Kurdish leader Massoud Barzani launched an initiative on Monday, sending Kurdistan Region President Nechirvan Barzani, Parliament Speaker Muhammad al-Halbousi, and leader of the Sovereignty Alliance Khamis al-Khanjar to Najaf Governorate to meet with the leader of the Sadrist movement Muqtada al-Sadr at his residence in Hananah, in an attempt to resolve the situation and bring the destinations closer. Considering between Al-Sadr and the forces of the coordination framework to move forward in forming the new government.

Shafaq.com

The cause of the death of legal expert Tariq Harb was revealed

{Local: Al Furat News} The famous legal expert, Tariq Harb, died at dawn today, Wednesday, in the capital, Baghdad.

Harb’s death came as a result of a heart attack, which he suffered at dawn today.
It is noteworthy that Tariq Harb is a writer and lawyer, born in Baghdad in 1945.

He obtained a Bachelor’s degree in Law from Al-Mustansiriya University in 1975, a Master’s degree in Law from Baghdad University in 1980, and a Public Law Diploma from Alexandria University.

Alforatnews.iq

Al-Kazemi: Iraq has lost a high legal stature and a beloved social figure

Baghdad – Mawazine News, Prime Minister Mustafa Al-Kazemi, on Wednesday, offered condolences on the death of legal expert Tariq Harb, saying that Iraq had lost “a high legal stature and a bold voice in truth.”

Al-Kazemi wrote, in a tweet to him on the Twitter platform, “With the departure of the professor and friend, legal expert Tariq Harb, Iraq has lost a high legal stature, a bold voice in truth, a beloved and honest social figure, and a well-established Baghdadi imprint.”

He added, “Our deepest condolences to the family of the great deceased, his colleagues, his fans, and all our people.”

Mawazin.net

Economists: Statements of change in the exchange rate of the dollar confused the market

Baghdad: Experts and economic specialists have criticized statements by several blocs and parties about changing the exchange rate, noting that it is a political media marketing that has confused the local market.

“Some of them see exchange rate change as just a digital process that goes up or down,” economist Uday al-Alawi told Al-Sabah, noting that “this change has a significant impact on the market and the commitments of many who live on the sale of materials.”

“The exchange rate can never be changed overnight, because the damage to those decisions made without knowledge of billions in losses to citizens,” al-Alawi said, adding that “changing the exchange rate requires overlapping processes of continuous market preparation that take at least two years.” “Statements regarding the change in the exchange rate of the dollar have confused the market and stopped many business operations, and forced families to reduce spending and be content with important goods, although private sector workers make up about 80% of society and are the most directly affected by such statements,” he said, adding that “any moves to reduce and raise the exchange rate must be considered, because there is a benefit between the trader and the simple citizen, as well as that many citizens have turned their dealings to the dollar.”

After the devaluation of the dinar, which suggests that it is not fixed internally, which causes a major economic change in the event of a decline or appreciation of the exchange rate of the dinar against the dollar.” Al-Alawi linked efforts to change the exchange rate on the one hand with talks to form a government on the other, noting that they would be temporary statements and would be nothing more than promotion and media marketing.

At the technical level, experts believe that Iraq should follow the steps of some neighbouring countries that have fixed the dollar exchange rate against their currency for years, even though they do not have any economic data, while the exchange rate in Iraq changes frequently.

On the same level, other blocs are trying to push economic laws to the House of Representatives, where the governor of Zamili, the first deputy speaker of parliament, announced the intention of the Sadrist bloc to legislate a law to deduct a grant from oil revenues distributed directly among citizens under the title “popular oil grant”, but experts and observers pointed out that these efforts cannot be applied within the law because of a budget deficit estimated at more than 27 trillion dinars.

Observers warn that Iraq is dependent on the current high oil prices, especially since its volatility will continue in accordance with market requirements and the consequences of the actions of the countries of the world on the general closure of the Corona pandemic.
They stressed the need for alternatives away from oil rents, as such wealth might not last long and could be reduced at any moment, noting that those funds could be invested in the construction of infrastructure for industrial cities that could compete with the world.

Alsabaah.iq

Al-Kazemi announces the arrest of a number of those involved in the great crime

Baghdad – Prime Minister and Commander-in-Chief of the Armed Forces Mustafa Al-Kazemi affirmed, on Tuesday, that Iraq has no place for terrorism of all kinds, types and forms.

Al-Kazemi said during his presidency of the cabinet session, February 1, 2022, “I congratulate the heroic security forces that have made great efforts during the past week, and achieved victories against terrorist organizations, as we conducted a massive cleansing operation in the Al-Azim area to cleanse the land of terrorist groups.”

He added that “the hawks of the Iraqi Air Force carried out strikes targeting several locations of the terrorist organization’s hideouts in several remote points, killing a number of them, including important Iraqi and foreign leaders, and during our visit to the border areas in northwestern Iraq, we worked on strict security measures within a tight plan to prevent any infiltration.” to terrorist cells.

Al-Kazemi continued, “The security and intelligence services worked to track the threads of the terrorist operation in Al-Azim, and were able to arrest a number of the terrorist cells involved,” thanking “the security institutions and our heroic Iraqi forces, and we assure our people that there is no return to terrorism in the presence of these valiant forces.”

He pointed out that “last week witnessed a very unfortunate event, when a group of non-state forces carried out a terrorist and cowardly attack on Baghdad International Airport, and these groups began to operate according to the logic of terrorism and use the same tools and other actions of terrorist groups.”

Al-Kazemi stressed that “all political forces, with their various political orientations, must unite their words and actions against these groups, as there is no place for terrorism of all kinds, types and forms in Iraq.”

The Prime Minister added, “This is the Iraq of the great, the Iraq of peace, the Iraq of safety and security, and the Iraq of cooperation and partnership. We do not allow any party or person to tempt himself to harm his reputation in this random and chaotic way.”

He said, “Our security forces have followed the threads of the operation and identified some of the terrorists involved, and they are continuing the investigations, and I assure our great people that all those involved will be arrested and held accountable without exception, and no party, whatever it is, will be able to protect the criminals or smuggle them.”

Nasnews.com

The World Gold Council publishes a report on global reserves

Baghdad – Last January, the World Gold Council published its report on the reserves of central banks in the world of gold, and the data showed that the reserves amounted to 35571.3 tons of the metal.

According to the data, total reserves increased by 11 tons in the January 2022 report, compared to December 2021.

The United States leads the world in precious metal reserves, with 8,133.5 tons, followed by Germany (3,359.1 tons), then Italy (2451.8 tons), France (2436.4 tons), and then Russia (2298.5 tons).

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.

As for the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, while Iraq ranked fifth, according to the first report of the World Gold Council this year.

The following is a table showing the ranking of Arab countries in gold reserves based on the World Gold Council report for the month of January 2022:

Nasnews.com