Articles for January 6th, 2016

Deposit Insurance Law does the economy 
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I love all these activates in this article

1/7/2016 0:00 

 BAGHDAD - Hussein al-Tamimi Tgb
activate cooperation with the international effort Economic contribute to a logical solutions that minimize the effects of the financial crisis that Iraq is going through because of low oil prices, and the requirements phase of the move the other economic sectors (according to Khbayra economy).
National Business Iraqi Council member Ali tempted said that the economic situation experienced by the country needs real action to achieve economic feasibility of the country and start a new phase join together by all the efforts to move the production process and activate the sectors
of economic.
He said in an interview for «morning» that the process of activating economic sectors require building bridges of trust between the and the majority of the beneficiaries of the banking sector through guarantors legislation for the rights of all parties, as well as the adoption of banking technology in the development of the banking sector, which is the center of economic attraction.
tempted stressed the importance of overcoming this stage, especially that Iraq is in front of big challenges to the security and economic requires the mobilization of efforts and resources to activate levels financial and banking market at the same time does not leave room for the growing economic recession and unemployment, which came as a result of the sharp drop in oil prices taking place in Iraq
now.
He pointed to the importance of benefiting from the project financing of the Central Bank of Iraq and the role of the financing of small and medium-sized projects and funding and its impact on job creation, as well as five trillion dinars initiative.
in turn, noted Ali Tariq Managing Director of the Association of Iraqi private banks that the future of the Association plans include communication with the international and regional banks that adopt advanced systems can be employed to serve the local economy.  
Tariq stressed that the activation of the banking sector and driven through activation of the filing process in various private banks and to provide funding for projects requires legislation to guarantee bank deposits law, which works to create confidence among depositors and banks by guaranteeing their deposits, pointing out that this law will change the shape of the banking business and its role in activating the economy
national.
He noted that advanced is banking technology vitally important to activate the national economy and transferred to a better stage commensurate with the volume of work required by Iraq in all its cities without exception.
He pointed out that the Third Banking Conference held recently Search Iraqi banks relationship with regional and international banks, and the dissemination of banking culture and enhance confidence in banks own, as well as the role of the banking sector in Under the current economic crisis, as well as the development of banking services to keep pace with the global market and free trade, banking and the development of human resources.

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Haider al-Abadi on Wednesday a phone call from US President Barack Obama. 
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Khandan - received Iraqi Prime Minister Haider al-Abadi on Wednesday a phone call from US President Barack Obama. 

Information Office of Ebadi said in a statement, said the US president, Abadi, the Iraqi people, "congratulated the victories achieved by the Iraqi forces on Daash terrorist gangs in the gray areas and the rest." 

Obama reiterated "his country's support for Iraq in its war against terrorism and to provide all kinds of support they need in the field of air support and arming and training in addition to helping Iraq's efforts to the challenges arising from the decline in oil prices and the importance of the steadfastness of Iraq against these challenges," praising "the positions of Iraq balanced and its pivotal role to ease regional tensions and prevent an increase in sectarian polarization in the region, "stressing" parking the United States with the sovereignty and unity of the Iraqi territory. " 

For his part, al-Abadi said that "recent victories confirmed the high morale and great capability to our heroine to restore all our lands and the liberation of every inch of the land of Iraq." 

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Economist: 50 Thousand category did not affect the "inflated" prices in local markets
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This is just proof they are analyzing their economy.

Special - scales News

He stressed the economic expert contrary goldsmith, Wednesday, that the 50 000 dinars category did not affect the inflation of prices in the local markets, among that the main purpose of the exchange is to facilitate the process of financial exchange cash only.

He said the goldsmith's / scales News /, that "the trading category 50 000 dinars did not affect the local market in terms of prices," stressing at the same time that "the fundamental goal of this class is to facilitate the exchange of financial cash process."

He said economic expert, "we are still in Iraq are dealing with cash, transfer money and use sophisticated means," noting that "why not use these means banks is poor management and services and the lack of development and lack of confidence of the citizens of these banks."

It was "the Iraqi Central Bank had announced earlier, that the issuance of 50 thousand dinars category will not be accompanied by the withdrawal of any other category of trade, pointing out that the issuance of this class or any other class does not affect the inflation and deflation." It ended 29/34 R.

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PArliamentary Finance ministries will receive their allocations immediately after the publication of the budget in the Official Gazette

http://almaalomah.info/2016/01/06/economic/5487

 

Information / BAGHDAD / ..

Finance Committee announced in the House of Representatives, on Wednesday, that the ministries will receive their funds immediately after the publication of the general budget in the official Iraqi newspaper facts, pointing out that that of the executive branch functions.

He said committee member Ahmed Sarhan told / information /, "The ministries and state institutions will receive their budget and financial allocations in the general budget for 2016 after publication in the Official Gazette."

Ahmed said, "The House of Representatives cleared the responsibility of the budget law, and the rest of the proceedings related to the government and the Council of Ministers that they should pursue it."

The House of Representatives last month approved a general budget for the 2016 law, while the Iraqi government later decided to challenge some of the budget items. Finished / 25

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Gulf Keystone Petroleum receive payments from the Kurdistan region of Iraq LINK Alsumaria News / Baghdad Received Gulf Keystone Company, Wednesday, Oil Payments From The KurdistanRegion Of Iraq, Indicating That The Company Will Have A Net 12 Million Of The Amount Received. Reuters Reuters UK That "Gulf Keystone Company Reported Received Oil Payments From The Kurdistan Region Of Shikan Field From Iraq A Total Value Of $ 15 Million. "" The Cover Payments The Company's Bill For The Month Of December Of 2015, "Indicating That" The Company Will Have A Net 12 Million From The Amount The Recipient. " Little was Genel Energy Inc. oil-producing and listed on the London Stock Exchange on 13 July, has decided to halt all exploration of this year's operations in an attempt to curb spending at a time waiting for it to get dues for oil sales by about $ 400 million of the Kurdistan Regional Government. END Adviser to Ebadi: a proposal for the sale of homes in the farmland of the occupants and raise the dollar exchange rate LINK [Baghdad-where] an economic adviser to Prime Minister Haider al-Abadi, revealed submit proposals to resolve the financial crisis in Iraq because of the decline in oil imports to decline in global crude prices. Said Abdul Hussein Al-Anbuge told all of Iraq [where], that "among what we have proposed partial sale of state property from the lands and governmental institutions which is redundant and neglected originally not used, and these can be sold to save a lot of money, as there is a method of last large residential neighborhoods built on agricultural land and let us to turn the race ground from an agricultural to residential and giving occupants vacation building and support for drug Deed] and get revenue in return for paying a value of up to 10 Trellnaat dinars. "He pointed to" the possibility of imposing a fee for converting the genus ground on every square meter a certain amount and private that there are drugs are expensive, especially near religious shrines in Karbala and Najaf, where it built residential facilities and hotels. "He continued Anbuge" as we proposed conversion of the dinar exchange rate against the dollar to 1300 dinars, and instead of selling the dollar to 1116 dinars to sell the central bank B1300 and this will save 9 trillion dinars, or about $ 8 billion and thus can bridge the budget deficit without borrowing, but weakness found in the Budget Department and Accounting in the Ministry of Finance and they do not possess the ability prevented turn these proposals into reality and diversify its sources of imports of the state.  "The Iraq faces a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%, reaching a total revenue of the 81 trillion and 700 billion dinars, the oil revenues, of which 69 trillion and 773 billion dinars The increase of 85.1% of total revenues, while non-oil revenues amounted to more from 11 trillion and 927 billion dinars The increase of 13.6% of total revenues.  He noted Finance Minister Hoshyar Zebari, the first Monday in an interview that "there are several alternatives [oil], including borrowing from international institutions, few benefits, and we did it. For ideals we have received help from the International Monetary Fund, and a few days ago we received one billion and 200 million dollars from the World Bank, we have introduced a monitoring program on how we manage the financial and economic policy, and if we could get help more of them, as we intend to sell sovereign bonds, because the situation in Iraq this year better than last year in this regard. "He explained that" The other option is how to raise the Iraqi dinar exchange rate, although it may be a risk of selection have repercussions. " It ended END Iraq Stock Exchange will be closed for Iraq Army Festival/Holiday Wednesday(Jan 6th) LINK 01/05/2016    06:59 Failure to regulate the trading session on Wednesday 1/6/2016 mark the anniversary of the Iraqi army festival -----  Update  CBI requirement to all Iraq Banks Because of the Holiday on Jan 6th, CBI requires all Banks in Iraq to report deposits in and out of country to be reported on Jan 5th (instead of the 6th). END Iraqi Parliament Speaker meets with a delegation from the US Congress LINK Baghdad in January 6 /  Qena  / Iraqi Parliament Speaker Salim al-Jubouri, met here today with a delegation of the US Congress headed by Senator Jack Reed.  During the meeting, they reviewed bilateral relations between the two countries and ways of joint coordination in the face of the organization "Daash" the great progress that has been made, especially in Anbar province in western Iraq, as well as the return of displaced persons to their areas and the reconstruction of areas devastated by the battles file.ENDThat's it for the morning come back in the evening for later updates!!!