Deputy: The next legislative term will be hot

A deputy from the movement of wisdom Hassan Khalati, on Thursday, that the next legislative term for the work of the House of Representatives “hot”, expected to include controversies and disagreements because of a number of important and sensitive laws, including the budget and oil and gas and the Federal Court.

Khalati said in an interview with Alsumaria News, that “the work during the second legislative term was not enough and satisfactory to the masses, who were waiting for a lot of laws relating to social needs,” noting that “there are many draft laws and proposals that were supposed to pass but not complete the cabinet The preoccupation with a number of cases and the lack of quorum for a number of sessions for various reasons were the reason for the obstruction of the passage of those laws. ”

He added that “the House of Representatives has led, in my view, a good performance, but it is not at the required level and that we aspire to,” stressing that “we can achieve the most by the next legislative chapter.”

He stressed the need to “have a greater focus on service laws, especially as there is an upward performance from the first legislative chapter to the second and we will try to continue this performance upward,” pointing out that “the House of Representatives should bear the legal responsibilities in passing the largest number of important laws.

Alsumaria.tv

After the indictment of Nuri al-Maliki… UAE detonates a surprise for the return of “dollars”

Dubai police in the UAE on Wednesday issued an official statement on the rolling video of billions of dollars in aircraft.

Colonel Faisal Issa al-Qasim, director of the Dubai Police’s Security Media Department, said the funds were not for any Arab official as he had promoted, but for an African gang that tried to defraud the person in the video.

“The African gang tried to defraud the person by identifying them through social media, and then communicated with them and tempted them to double their money, luring him to an apartment containing counterfeit dollar boxes, and then filmed him in an attempt to blackmail him and give them money, then hurried To inform the General Department of Criminal Investigation and Investigation which in turn has taken the necessary measures to arrest them. ”

Colonel al-Qasim said that “the person would have fallen victim to the gang without his awareness and the speed of notification to the General Directorate of Investigations and Criminal Investigations, which in turn hastened to uncover the truth.”

Maliki and Gaddafi accusations

The whirlwind of “billions of funds” began when the Lebanese media, Maria Maalouf, published a video to seize funds filled with “billions” of dollars, by the UAE authorities.
“Security authorities at Dubai airport seize a shipment of funds full of dollars stolen from the Iraqi treasury,” Maalouf said.

“The shipment is estimated at hundreds of billions of dollars aboard a private Iraqi plane, belonging to Nuri al-Maliki, which he intended to smuggle to a European state.”

“These funds are equivalent to the budget of 10 Arab countries for five years,” she said.

But the leader of the State of Law coalition and former Iraqi Prime Minister, Nuri al-Maliki, spoke about his relationship to a video of “boxes filled with billions of dollars.”

Maliki’s bureau chief, Hisham al-Rikabi, said in a tweet that there was no link between the former prime minister and the “billions of funds.”

“Your lies will not fool anyone anymore. I think this passage is old, and the owners have nothing to do with it,” Rikabi said.

“According to the information, these funds are Libyan smuggled, belonging to the era of the Gaddafi regime.”

The video returned to another case of controversy, after linking the director of al-Maliki’s office that video to the late Libyan Colonel, Muammar Gaddafi, before issuing a statement Dubai police.

Shafaaq.com

Dubai police issue a statement on the alleged seizure of smuggled Iraqi funds belonging to Nuri al-Maliki

Baghdad Today: Dubai Police issued a statement on Wednesday, September 11, 2019, on a video that its publisher claimed was to seize contraband funds linked to the leader of the State of Law coalition, Nuri al-Maliki.

The Lebanese journalist Maria Maalouf published a video that said, “The security authorities at Dubai airport seized a shipment of funds full of dollars stolen from the treasury of Iraq, estimated at hundreds of billions of dollars aboard a private Iraqi plane belonging to Nuri al-Maliki, which was intended to be smuggled to a European country.”

“This money is equivalent to the budget of 10 Arab countries for five years.” Colonel Faisal Issa Al Qasim, Director of Security Information Department at Dubai Police, explained that “an African gang tried to defraud the person in the video, by identifying them through social media and then communicated with them and seduced them by their ability to double his money, luring him into an apartment containing dollars boxes.

They then filmed him in an attempt to blackmail him and give him money, then he rushed to inform the General Directorate of Criminal Investigations, which in turn took the necessary measures to arrest them. ” Al-Qasim said that “the person would have fallen victim to the gang without his awareness and the speed of notification to the General Directorate of Investigations and Criminal Investigations, which in turn hastened to uncover the truth.”

Al Qasem called on members of the public to be cautious and cautious about communicating with strangers and fake ads in social media and disbelieving them, and to report them through ecrime.ae’s electronic communication platform or smart service “Police Eye” through the Dubai Police application or call 999 or 901.

In the same context, commented Hisham al-Rikabi, director of the Office of the leader of the coalition of law Nuri al-Maliki on the video in a tweet on his site followed by (Baghdad today), saying: “Your lies will not fool anyone after today, I think this section is old and according to information that the money is Libyan smuggled Going back to the Gaddafi era. ”

Shafaaq.com

Iraq at the tail of the attractive countries for investment

BAGHDAD: Iraq ranked 106th in the list of countries attracting foreign investment out of 109 countries surveyed. The main reasons for this significant decline was the weak financial structure of the state due to the lack of clarity and transparency of the application of laws. According to economists.

The weak ICT infrastructure, the lack of economic blocs and the lack of access to credit facilities have led to this low status.

In spite of the availability of important factors attractive for investment as licenses and the availability of raw materials and natural resources, human and the right environment for work, but these factors were affected by the negative factors that led to this decline.

Iraq occupied the penultimate position among the Arab countries in the same list
and the United Arab Emirates ranked first among the Arab countries where it ranked 23rd globally, followed by Qatar at 37th place and Bahrain at 41st place, Saudi Arabia at 48th place globally.

It is clear that the main reasons for the weakness of investment are due to the established reasons and not fixed and therefore the ability to attract foreign investment may be faster than expected in the case of an executive and legislative authority whose primary objective is to improve the investment and the absence of the reasons for its weakness.

Alforatnews.com

CBI MAKES BIG BIG ANNOUNCEMENT… GETTING READY FOR THE “RECOVERY” OF THE DINAR TO IT’S FORMER WEALTH!!

Central Bank announces strategic banking projects for the next five years

​By Samir al-Nusairi

In the monthly meeting of the government and private banking leaders, Mr. Ali Al-Alak, Governor of the Central Bank of Iraq, confirmed the continuation of the Bank’s approach to stimulate the economy and build the capacity and development of the banking sector in order to move to the development role and contribute to financing investment and reconstruction projects.

The exchange rate as the main achievement of monetary policy applications and one of its important objectives, which has positive repercussions on the revitalization of the economy and stabilize the monetary and financial system.

Ed oil as a key resource for revenue and continuing imports of all goods and not to encourage and support local production will inevitably lead to the continuation of the bank offer to sell dollars, according to its law because the reason is not supply but demand for the dollar for the reasons above.

At the meeting, the Central Bank announced the launch of its strategy for the next five years to implement 21 projects to develop and develop banking business after it was able to achieve most of the main and sub-objectives of its first strategy for the years ( 2016-2020 ), which has become possible to start the process to achieve the full objectives of monetary policy and move to The ranks of international banks sober certified by specialized international financial organizations.

One of the strategic banking projects, whose objectives and future impact have been defined according to a timetable for each project, the implementation periods and reaching the target during the years ( 2019-2023) are development projects related to financial inclusion such as the settlement of salaries and projects to restore confidence in the banking sector such as the deposit guarantee company and structural development projects.

And administrative and legal as a draft government guide and projects for training and rehabilitation and capacity-building and classification of banks and projects to move banks from the role of banking to contribute to development as a project of Islamic finance pool. It should be noted here that although the Bank has started planning these projects since 2016, but also adheres to the government curriculum as far as the banking sector and the targets of the National Development Plan ( 2018-2022 ) and the vision of Iraq 2030.

The central bank’s emphasis on working in accordance with its approach to economic reform since 2015 is anchoring the reality that the central bank and its current administration embody a bright spot in an unstable economic environment for subjective and objective reasons.

The results highlighted the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives specified in its law, and its contribution to achieve economic resilience and promote the decisive victory over terrorism.

In addition to the results achieved on the scope of applications of monetary policy internally and convince global financial organizations, the most important official reports issued by them confirmed the success of the Central Bank’s policy in achieving an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, one of the objectives of strengthening the economy.

In addition to his contributions and multiple initiatives to stimulate the economic cycle and enhance liquidity in banks and reach to re-coordinate bridges between the financial and monetary policies and propose new economic and structural policies to prepare public budgets for the coming years on the basis of programs and not items and attempts to restore confidence in the banking system.

The Central Bank has demonstrated its clear ability to interact, analyze business constraints and create conditions to overcome challenges. To build a solid national economy.

Economy-news.net

Samir al-Nusairi: Rational management of the central bank and the sound application of monetary policy achieved economic resilience

The Iraqi Council of Representatives and the political and economic circles are preparing to evaluate the implementation of the government of Prime Minister Adel Abdul Mahdi from its government curriculum. In the midst of the ongoing discussions now requires the above to not separate between what has been achieved during the past years and what has been achieved during the year in which the government assumed the responsibility and bright points achieved by some of our economic and financial institutions during the economic and security shocks suffered by Iraq, which the Central Bank of Iraq had a leading and fundamental role In supporting the national economy and achieving economic resilience. In order not to overwhelm the rights of those who took direct responsibility to face those circumstances, difficulties and challenges.

The support provided by the Central Bank to the national economy during the economic and security shocks suffered by Iraq due to the economic and financial crisis and the war on terrorism is a bright spot and an honorable success experience in a country under harsh conditions and at a historic stage that is the most difficult in facing the economic and security challenges that no country has experienced. In the world, such as what Iraq went through as the management of the Central Bank of Iraq and his team and cadres proved that they had a prominent role in promoting economic resilience and moving steadily towards economic stability.

What are the steps taken by the Central Bank in drawing up its strategy?

Through the wise efforts and prudent measures in the application of monetary policy and development policies of the Central Bank in the difficult economic phase of Iraq were able to draw a strategy for the years (2016-2020) and a clear roadmap goals and ambitions in achieving economic stability and stimulate economic growth and promote financial inclusion and structural and institutional construction and investment optimum in Human capital through significant achievements during the years (2015-2019) and still ongoing most notably: Maintain inflation by not more than 2% and a level of adequacy of foreign reserves within acceptable rates according to the latest criteria Jmiei ( ( IMF )The International Monetary Fund (IMF) increased by more than 160%, which is considered a sufficiently high percentage internationally as the foreign currency reserves of Iraq amounted to 72 billion dollars until 30/6/2019, and maintain the stability of the exchange rate and stimulate the banking sector regulatory, supervision and control and the establishment of new units within the organizational structures of banks Such as compliance, combating money laundering, financing of terrorism, managing credit and operational risks, issuing money laundering law 39 for the year 2015, developing payment systems, implementing all retail and mobile payments, establishing a national exchange and working on applying international standards in reports. In line with the principle of transparency and disclosure in addition to the Bank’s daily efforts to stimulate financial inclusion operations and focus on the initiative to localize the salaries of employees for the purpose of raising the financial inclusion rate of the population who do not have accounts in the banking system, which actually increased from 11% to 22%.

According to the World Bank Bulletin. The Central Bank also announced recently to begin the completion of its investment banking projects for the years (2019-2023).

What about the measures taken by the Central Bank for the purpose of restoring public confidence in the banking and financial sector in Iraq?

For the purpose of restoring confidence in the banking sector, the Bank re-evaluated and classified banks in accordance with international standards and standards in evaluating business results and measuring the efficiency of performance. The bank is taking its initiative to finance small and medium projects and is currently taking measures to implement the Council of Ministers Resolution 245 for the year 2019, the second axis of it paragraph (1) concerning facilitating investment and reconstruction operations and presenting a new initiative. Satisfied with investment projects in addition to his supervision and leadership of community initiatives funded by banks such as the Baghdad project and support the Iraqi Drama Fund and the launch of Islamic finance pooled national funding for large projects and the establishment of a fund enable and take regulatory and structural measures and the establishment of a depository center in the Iraqi market for securities The establishment of a national center for credit information. And the Iraqi Payment Council.

What are the central tendencies to develop its relationship with Arab and foreign financial institutions that have been cooled by the financial crisis experienced by Iraq?

At the level of international banking relations, the Central Bank was able, with the exceptional efforts of the Governor and his team, to restore relations with Arab and foreign central banks and to deliver the achievements achieved during the past years to the ruling international financial institutions such as the Financial Action Organization, which contributed to the transition of Iraq’s classification from gray to normal follow-up and finally out The Governor’s visit in 2017 to the United Nations Security Council J, presented by the achievements and organizational and structural developments, technical and compliance with international standards in financial reporting and enhance confidence in the Iraqi economy and Iraq’s ability to adhere to international credit benefits and praises of the World Bank, the International Monetary Fund and the Financial Action Group have had a clear impact in promoting economic resilience and financial victory

All the successes above make the Central Bank of Iraq and its team deserve the right word neutral service to our national economy and our Iraqi banking sector.

Economy-news.net

Revealing a study to delete zeros from the Iraqi currency .. The reason?

BAGHDAD / .. The parliamentary Finance Committee, a study to delete zeros from the national currency, but they ruled out the application at the moment for several reasons.

“The proposal to delete the zeros has been submitted from the House of Representatives to the Parliamentary Finance Committee in order to study the change of the national currency and all categories and the printing of new coins, but the preliminary study showed that the costs needed by the project is great,” the committee’s rapporteur Ahmed al-Saffar told reporters.

He added that “the budget deficit for this year and Iraq’s debt is one of the most important reasons that will lead to delay the deletion of zeros (three zeros),” noting that “the Finance Committee has assigned specialized bodies of monetary policy to study the project carefully to submit to the Finance Committee to be the main lines of this project, which Its beginnings go back years. ”

Al-Saffar pointed out that “deleting the zeros is a project with psychological effects rather than being actual, as the citizen will feel that his money is compatible with the requirements of his life and the movement of supply and demand and equal to hard currency.”

Aynaliraqnews.com

BGG ~ This sounds a lot more like an OP ED piece from Al-Saffar. If so – I would tend to listen to  Al-Nusairi much more than some vague MP at the head of one of these rinky dink Parliamentary committees.

1) Al-Nusairi is still positive.

2) They are discussing the project right now (reportedly).

3) I am very skeptical the “hold-up” is the cost of printing and minting. I am assuming since they have had this project “in the hopper” since 2012 they have long ago had lower denoms printed and ready. Coins / fils? maybe not.

The Central Bank begins the steps to join the official forum of monetary and fiscal policies

The Central Bank of Iraq has begun steps to join the official forum of monetary and financial institutions (OMFIF), an independent global think tank for central banks, pension funds and financial institutions with investment assets worth $ 36.2 trillion.

“Membership in this forum provides insight into the key topics of investment in two integrated channels of analysis and meetings, through high-level practical exchanges and content, as well as participation in meetings held in cooperation with the IMF,” the bank said in a statement. International Bank of England and the German Central Bank. ”

“The accession process also benefits from capacity-building opportunities for mid-level and senior staff.

Alforatnews.com

The Central Bank Begins Steps to Join the Official Monetary and Financial Policy Forum (OMFIF)

The Central Bank of Iraq has begun steps to join the official forum of monetary and financial institutions (OMFIF), an independent global think tank for central banks, pension funds and financial institutions with investment assets worth $ 36.2 trillion.

Membership in this forum provides insight into the key topics of investment in two integrated channels of analysis and meetings, through high-level exchanges and content, as well as participation in meetings with the International Monetary Fund, the Bank of England and the German Central Bank.

The accession process also benefits from capacity building opportunities for mid-level and senior staff. OMFIF develops projects for members in London, Singapore, Washington and other global financial centers.

Central Bank of Iraq
Information Office

ARAB ACCOUNTING DINAR EXCHANGE RATES

The Arab Accounting Dinar (AAD) is the official and reporting currency of the Arab Monetary Fund. Its exchange rates are fixed by the Arab Monetary Fund (AMF) equivalent to three units of Special Drawing Rights (SDR) as determined by the International Monetary Fund (IMF).

Aamf.org.ae