WOTS WED AUG 18 21The International Development Bank buys more than 300 advanced ATMs from CBM
These are the articles I discussed on the NEW My FX Buddies Podcast
Adopting financial rules achieves economic stability
Iraq's wide demonstrations have receded and returned systematically.. It is likely
On May 25, 2021, the last large-scale demonstration in the Iraqi squares ended with the killing of two civilians and the wounding of about 30 others, after which no demonstrations took place, except for small gatherings here and .there Prominent activists in the Iraqi civil movement, in statements monitored by Al-Masala to local media, believe that .there is a great possibility that the demonstrations will renew
Activist Hussein Al-Ghurabi says that the protests in Iraq are no longer human gatherings that carry a set of demands and disappear as they are achieved or implemented. Rather, they have become a new approach for Iraq’s civil youth, and I expect Iraq to witness more than one demonstration before the early elections, due to .indications and evidence of Election impartiality
A member of the protest movement, Ammar Al-Nuaimi, says that the idea of change from within is important, and has an impact different from the pressure from outside on the current authorities. We believe that political participation is important for activists and demonstrators in order to dislodge the parties in power. As for the .return of protests, it is expected at any moment
Activist Suhail Hatif believes that poor services may push Iraqis to return to the streets again, as the majority of Iraqis do not have enough awareness to demand electoral security or the replacement of governors or officials, .and the current closest option for activists is the street again
Secretary of the Iraqi Communist Party, Raed Fahmy, says that all conditions are available for the return of the protest movement, but rather increased with armed parades in the city centres, and the continued threat and killing of activists in the streets, and that activists and demonstrators in the Iraqi protest movement will rise again, .according to tactics that may be shocking parties in power
The Governor of the Central Bank confirms the provision of the necessary infrastructure to advance the reality of financial inclusion
The Governor of the Central Bank of Egypt, Mustafa Ghaleb Mokhief, confirmed, on Tuesday, the provision of the necessary infrastructure to advance the reality of financial inclusion, especially the best payment systems in the world, which represent the cornerstone of financial inclusion.
The Governor of the Central Bank, while presiding over the meeting of the Supreme Committee for Financial Inclusion in Iraq, said that financial inclusion is of interest to all countries, not only in Iraq, especially since its goals are multiple, foremost of which is the inclusion of all segments of society with banking services, which is no longer a secondary issue but a daily necessity.
The attendees stressed the importance of the committee's role in spreading financial inclusion, its economic and social dimensions, and other important aspects.
He explained that the Central Bank of Iraq has provided the necessary infrastructure to advance the reality of financial inclusion, foremost of which is the best payment systems in the world, which represent the cornerstone of financial inclusion, noting that the need to draw an integrated vision for financial inclusion was discussed.
After that, a presentation was presented to prepare the preparation of the national strategy for financial inclusion, which included the most prominent steps and objectives undertaken by the Central Bank of Iraq so far in order to achieve the goal sought by the framework of this committee.
The members of the committee presented their interventions on the importance of the participation of their institutions in this committee and expressed their willingness to provide support as far as promoting financial inclusion is concerned.
The Ministry of Finance forms a central committee to reform the tax system
The Ministry of Finance has formed a central committee to activate the reforms included in the white paper and address the problems that the General Tax Authority is experiencing.
According to a document seen by "Nass", Finance Minister Ali Abdel Amir Allawi issued a ministerial order in which it was decided to form a central committee that will undertake several tasks, foremost of which is " following up on the implementation of the tax system reforms listed in the white paper."
The Minister of Finance, Ali Abdul-Amir Allawi, had launched a conference on reforming the tax sector in Iraq a few days ago.
The conference discussed a number of main axes that, in total, constitute the roadmap for implementing the reform and development plan for tax policy. According to a statement issued by the ministry, “Nass” received a copy of it, (August 14, 2021). Iraq, real estate tax, government contracts tax and direct deduction, in addition to discussing the income tax axis on oil licensing companies, private and public sector employee salaries, mobile phone and business tax, and currency auction taxes.
The statement pointed out that "the aspect of tax exemptions on investment projects was discussed, as it is considered one of the incentives to attract investors and expand the base of promising development opportunities."
And the Minister of Finance indicated that "the conference aims to discuss mechanisms to reform and modernize the current tax system by reviewing legislation and tax laws and instructions for their implementation in line with the challenges of the current economic reality, and the impact of the tax sector on the monetary and financial policy in the country."
The ministry's statement stated that "the importance of holding the conference came in accordance with several necessities, the most important of which is that the current tax system does not meet the requirements of economic advancement and does not support the elements of achieving comprehensive and sustainable development."
He pointed out that "these reforms will have positive repercussions that will provide the necessary revenues to finance the state's public expenditures, activate the investment reality and establish development projects that provide new job opportunities among young people."
Allawi stressed that "the Ministry of Finance is moving towards implementing its reform programs related to tax policy, as it is one of the most important strategic objectives stipulated in the white paper," noting that "the ministry pays great attention to the introduction of global technology and modern digital systems through the complete automation of tax work and benefiting from international expertise. And discreet companies specialized in the tax field and providing tax services with high quality and accuracy.
The Minister of Finance sets the priorities of the white paper
Today, Wednesday, Finance Minister Ali Abdel Amir Allawi set the priorities of the white paper, while pointing to the importance of raising the indicators of non-oil revenues.
And the media office of the Ministry of Finance said in a statement received by the Iraqi News Agency (INA): “Minister Ali Abdel Amir Allawi chaired the meeting of the eighteenth session of the committee for preparing the state’s federal general budget strategy for the medium term 2022-2024, in the presence of each of the head of the General Authority for Monitoring the allocations of the federal ministries, an undersecretary. The Ministry, the Prime Minister’s advisor, the Ministry’s advisor, and a number of general managers in the ministry and relevant ministries.”
He added that "Allawi discussed the proposed amendments to the side of oil and non-oil revenues, and the follow-up of the ministerial performance steps aimed at raising and maximizing the indicators of non-oil revenues against oil revenues in a way that works to reduce the deficit gap in future budget projects and stay at safe spending levels."
The statement indicated that "the session also discussed the economic report submitted by the economic department in the ministry on the principles of the budget strategy for the years 2022-2024, which includes reform visions represented in adopting supporting elements to revitalize the economic reality."
The Minister of Finance stressed that "one of the priorities of the white paper is the reform of financial management systems."
Al-Najjar: Cabinet decisions send a message of reassurance to investors wishing to enter the Mosul market
Head of the National Investment Commission, Suha Daoud Najjar, said that the decisions taken by the Council of Ministers in its regular session held yesterday, Monday in Nineveh Governorate headed by Prime Minister Mustafa Al-Kazemi, send a message of reassurance to investors wishing to enter the Mosul market and aim to encourage investment in the province.
Najjar, who attended the meeting of the Higher Committee for the Reconstruction of the province yesterday in the city of Mosul, which was chaired by Prime Minister Mustafa Al-Kazemi, stated, "The commission will work with the committee and in cooperation with the relevant ministries and government institutions to complete these decisions within the prescribed period."
And she called for concerted efforts for the reconstruction of Nineveh Governorate, which enjoys attractive elements for investment, foremost of which is its geographical location, its historical dimension, and its natural and human resources.
For his part, Chairman of the Nineveh Investment Commission Medhat Al-Ani confirmed that the holding of the cabinet session in Mosul and the visit of the head of the National Investment Commission to the province will push the wheel of investment in the city and encourage capital to participate in the investment process, referring to the Cabinet’s decision to allocate the remaining space from Ghazlani camp to the municipality Mosul, (after transferring the ownership of an area of (3000) dunums of it to the Ministry of Defense to establish a large residential, recreational, and commercial investment project that will be presented in the form of investment opportunities in accordance with the amended Investment Law No. (13 of 2006).
In a sudden development... Al-Sadr sets two conditions to refrain from boycotting the elections
Surprise, surprise!
Lessons from Al-Maliki's rule".. An American report compares the fall of Afghanistan and Mosul
"This is an army that I think consists of 350,000 people, well-armed by the United States and trained by the United States for ten years. A few thousand fighters appeared and all fled.. The officers ran away first, and the soldiers did not know what they had to do, They also fled."
This description is not related to the dramatic collapse of the Afghan armed forces in the face of a rapid Taliban attack that swept the majority of the country in a matter of days, but rather a summary by Professor Noam Chomsky of the Iraqi army's failure to defend northern Iraq in June 2014, when ISIS invaded a third of the country, including In that the second largest Iraqi city, Mosul, in a matter of days.
This is how the American magazine Forbes began its report, adding that while the United States began its final withdrawal from Afghanistan, comparisons can be made between it and its complete withdrawal from Iraq in December 2011. After this withdrawal, ISIS emerged and established its "caliphate." It controlled large parts of Iraq and Syria, equal to the size of Britain.
The magazine added in a report published in the English language, and translated by Shafak News Agency, that it took three years to regain the main cities from ISIS, including a violent nine-month battle to liberate Mosul, and Baghdad could not achieve this without the United States forming and leading an international coalition that launched Thousands of raids in support of the Iraqi counter-offensive, as he armed, advised and trained the Iraqi Special Forces.
The magazine wondered why the Afghan and Iraqi security forces failed badly in August 2021 and June 2014, after the United States had spent previous years investing huge money in arming, building and training its armies and security forces to enable them to combat insurgent and terrorist threats.
She pointed out that President Joe Biden last month sought to rule out the idea that Afghanistan would fall into the hands of the Taliban after the withdrawal of the United States due to the size and strength of its armed forces, when he said, "Because the Afghan forces have 300,000 well-equipped soldiers, and the forces are as well-equipped as any army in the country." world, and an air force against about 75,000 Taliban fighters."
She added that the large Afghan army collapsed like a house of cards in light of the Taliban's progress to seize one city after another, and also failed to prevent the Taliban from controlling most of the country and toppling the government even before Washington completed its scheduled withdrawal by August 31.
The report of the American magazine pointed out that the Iraqi army, prior to June 2014, seemed to be well able to overcome the armed insurgents in a relatively light manner, given the number of superior Iraqi soldiers and their military equipment, but instead, what happened is that a force of 30,000 Iraqi soldiers in Mosul fled as a relatively small force of no less than 800 ISIS fighters took over the city.
She added that, as is the case today with the Taliban movement, "ISIS" did not believe the speed of its victory and its fortunes, noting that in both cases, large quantities of US military equipment and weapons, especially Humvees, were seized by the militants.
When the Taliban began to build momentum after the US decision to withdraw, the belief grew within the Afghan forces that President Ashraf Ghani's government was not worth fighting for and dying for, while soldiers and officers felt hopeless and abandoned.
The magazine considered that the United States formed the Afghan army as an "accurate image of the American military", but it depends permanently, on a network of air support, intelligence, logistics, repair and maintenance crews, and rapid transport by helicopter from one isolated area of the country to another.
As a result, as soon as the Americans began to withdraw, these supportive networks began to fade, and thus "the Afghan army collapsed inevitably."
With regard to the Iraqi case, the magazine’s report considered that “the disaster of June 2014 was the result of political decisions in the sectarian government of Prime Minister Nuri al-Maliki, which essentially undermined the effective army that the Americans helped Iraq build before December 2011.”
The magazine quoted researcher Kenneth Pollack as saying in his 2018 book, “Armys of the Sand: The Past, Present, and Future of Arab Military Effectiveness,” that “Al-Maliki began to remove competent, non-political officers that the United States had appointed with difficulty throughout the Iraqi leadership structure, and replaced them with men loyal to him.” In doing so, he removed the most efficient officers (because these are the men the United States promoted) and replaced them with the criminals and middlemen that the United States had deliberately sidelined."
In addition, the magazine noted that "Al-Maliki suspended training programs set by the United States," adding that "his politicization of the Iraqi army and its open sectarianism served ISIS."
And the magazine recalled, what Pollack wrote, that "the Iraqi Sunni soldiers were not ready to fight ISIS in defense of the Maliki government, and they were the ones who had repeatedly protested their marginalization for sectarian reasons," adding that "the Kurdish soldiers serving in the Iraqi army were also unwilling to fight." For Maliki, because he had previously threatened to attack their homeland, Iraqi Kurdistan.
According to Pollack also, "The remaining Shiite soldiers, when the Sunni and Kurdish officers fled, did not feel the need to fight and die to hold on to Sunni cities such as Mosul, Tikrit, Baiji and Samarra."
"In many cases, the Shiite leaders of Maliki's followers were the first to flee and start the whole process," Pollack wrote, adding that "as always in this pattern of successive events, the first few escapes have a snowball effect."
Barham Salih, President of China: The stability and sovereignty of Iraq are central to the security of the region
The President of the Republic, Barham Salih, made a phone call to Chinese President Xi Jinping, on Wednesday.
A statement by the Presidency of the Republic, a copy of which was received by Mawazine News, said that Saleh congratulated President Xi Jinping on the centenary of the founding of the Communist Party of China, and the phone call emphasized the depth of the historical relations between the two countries, the importance of expanding the horizons of joint cooperation in the economic, commercial and industrial fields, and the role of Chinese companies in the reconstruction of Iraq and their contribution to the sectors of infrastructure, energy and oil in a manner that serves the interests of the peoples of the two friendly countries.
The statement added that, during the call, it was emphasized the need to enhance cultural cooperation between the two countries, increase the number of fellowships for Iraqi students in Chinese universities, and value China's role in helping Iraq confront the Corona epidemic by sending vaccines and experts to help Iraqi health cadres.
The phone call also discussed developments in the region, where President Barham Salih stressed the importance of work and coordination in order to defuse crises and reduce their tensions, noting that Iraq's security, stability and sovereignty are based on the security and stability of the region.
The International Development Bank buys more than 300 advanced ATMs from CBM
The International Development Bank and CBM, a leading information technology (IT) company, have signed a partnership agreement for state-of-the-art ATMs and automated teller machines.
The agreement aims to develop the payment service for customers and advanced solutions for self-service banking for the International Development Bank, where a contract was made to purchase and support more than 300 advanced ATMs to advance banking services to a global level in performance.
An official source in the bank confirmed that the agreement comes with the aim of adopting the best technology and global solutions that advance banking services to the world and deploying the largest number of ATMs throughout Iraq to cover electronic card services, and the bank continues to make continuous and advanced investments in the field of banking technology, where CBM will provide the company The first in the field of technology, with long-term support at a global level and high quality, in line with the bank’s plans to provide an international level service that achieves customer satisfaction and with the latest ATM technology supported by high-level technical skills.
CBM is also a distributor for Diebold Nixdorf, one of the most important providers of ATMs and professional IT solutions in Lebanon, the Middle East and Africa.
Below here is the latest WOTS on the report "Word on the Street":
Publishes the dollar exchange rates in the local markets for Wednesday, August 18, 2021, according to the monitoring of specialists.
Baghdad - the stock exchange
The price is in most Baghdad exchanges
Purchase
Sale
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.6000 |  1484.6000 | 1457.3000 | 1457.3000 | 1457.3000 | 0.1000 | 00:00 |
| USD/VND | 22809.0000 | 22814.0000 | 22829.1600 | 22805.5800 | 22828.5600 | -21.6900 | 04:38 |
| USD/CNY |  6.4802 | 6.4822 | 6.4852 | 6.4785 | 6.4852 | -0.0050 | 05:31 |
| USD/KWD | 0.3004 | 0.3014 | 0.3004 | 0.3004 | 0.3004 | 0.0000 | 05:16 |
| GBP/USD | 1.3757 | 1.3758 | 1.3762 | 1.3725 | 1.3735 | 0.0023 | 05:31 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14400.0000 | 14400.0000 | 14439.0000 | 14366.0000 | 14426.0000 | -25.0000 | 05:31 |
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Oil rises as "OPEC +" maintains its oil production
Oil prices rose on Wednesday, while the "OPEC +" organization maintained its oil production, despite America's demand from the organization to increase its production, at a time when the world is witnessing a rise in cases of Corona virus.
Brent crude rose 27 cents, or 0.39 percent, to $69.30 a barrel by 0510 GMT, after falling 0.7 percent on Tuesday. US oil rose 26 cents, or 0.38 percent, to $66.58 a barrel, after falling 1 percent in the previous session.
The major oil producers in OPEC + believe that the oil markets do not need to pump barrels of crude more than previously planned, which is a rejection of the US call on the demand of the OPEC + alliance to increase supplies.
Last week, the White House called on OPEC + countries to increase oil production from previously planned levels in order to counter the rise in US gasoline prices, in what it described as a threat to the global economic recovery.
In July, the OPEC+ alliance agreed to increase oil production by 400,000 barrels per day per month, starting in August, until the current production cuts of 5.8 million barrels per day are eliminated.
However, demand for oil in July appears to be very weak due to the industrial slowdown and retail in China, the second largest importer of crude oil in the world, as well as the rise in coronavirus cases worldwide.
India, the world's third-largest importer of crude, began sales of oil to state-run refineries from its Strategic Petroleum Reserve, which led to the introduction of a new policy to market federal storage by leasing space.
The International Development Bank buys more than 300 advanced ATMs from CBM
The International Development Bank and CBM, a leading information technology (IT) company, have signed a partnership agreement for state-of-the-art ATMs and automated teller machines.
The agreement aims to develop the payment service for customers and advanced solutions for self-service banking for the International Development Bank, where a contract was made to purchase and support more than 300 advanced ATMs to advance banking services to a global level in performance.
An official source in the bank confirmed that the agreement comes with the aim of adopting the best technology and global solutions that advance banking services to the world and deploying the largest number of ATMs throughout Iraq to cover electronic card services, and the bank continues to make continuous and advanced investments in the field of banking technology, where CBM will provide the company The first in the field of technology, with long-term support at a global level and high quality, in line with the bank’s plans to provide an international level service that achieves customer satisfaction and with the latest ATM technology supported by high-level technical skills.
CBM is also a distributor for Diebold Nixdorf, one of the most important providers of ATMs and professional IT solutions in Lebanon, the Middle East and Africa.
8 Major countries participating in the Baghdad Summit
link
The envoys of the Iraqi Prime Minister, Mustafa Al-Kadhim, continue their tours of the neighboring countries to persuade their leaders to participate in the summit of Iraq’s neighboring countries at the end of this August, with the aim of preventing any new escalation in the region, and not negatively affecting the fragile situation in the country, weeks before the organization of parliamentary elections that will be A pivotal point for the Iraqi state after 2003.
The envoys' tours included Saudi Arabia, Kuwait, Iran, Turkey and Jordan, with the exception of Syria, whose presence or invitation to it seems not to motivate the international community, the United States and their allies in the region to support the summit of Iraq's neighboring countries.
The Iraqi Foreign Minister, Fuad Hussein, delivered messages from Al-Kazemi to the leaders of Saudi Arabia, Turkey and Iran to attend the summit, while the Minister of Planning, Khaled Al-Battal, handed an invitation from the Iraqi Prime Minister to the Emir of Kuwait, Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, to participate in it.
The convening of the summit comes under circumstances that are of great importance in easing the conflict.
Summit files
In turn, the head of the Iraqi Center for Strategic Studies, Ghazi Faisal, indicates that the conference "will discuss the region's crises and develop solutions to some problems." Iraq suffers from a series of crises, wars, destruction and chaos of uncontrolled weapons, pointing out that “these files pose serious threats to the security of the Arab Gulf and Egypt. There is a problem in Sinai represented by the organizations of the caliphate state, the war in Yemen and the deep crisis in Sudan as well as Libya.” He adds that “there is a need for joint consultation, joint action and the exchange of ideas.
It is likely that the conference will discuss the water file, and the meeting can adopt important options to preserve the environment and find solutions to global warming.” He stressed that "it is possible to discuss other issues such as the issue of weapons, battalions, militias and chaos, because this situation cannot continue."
He pointed out that «the second file at the Baghdad summit revolves around the economy; Especially since Iraq has great economic partnerships with neighboring countries, including in the field of electricity and petrochemicals, building schools, education projects, agriculture and culture.
On the 27th of last June, the Iraqi capital witnessed a tripartite summit between Iraq, Egypt and Jordan, attended by Egyptian President Abdel Fattah El-Sisi and Jordanian King Abdullah II, which witnessed an agreement on coordination between the three countries in various fields and the development of economic relations.
The main parties in the summit:
1 Saudi Arabia
2 Kuwait
3 Qatar
4 UAE
5 Turkey
6 Jordan
7 Egypt
8 Iran
Issues that the summit will focus on:
- Issues of the situation in Syria
- Fighting ISIS
- The fate of the European “ISIS” families in Al-Hol camp
- The region’s crises (water, economy)
- Finding solutions to global warming
- The issue of weapons Brigades, militias, and chaos
CBI Update: Just a note:
including $62,090,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers held its regular session in the city of Mosul, headed by Prime Minister Mr. Mustafa Al-Kadhimi. Several decisions were voted on the governorate, most notably:
-The Nineveh Governorate frozen assets will be released into projects for the benefit of the departments, provided that these projects are identified, in coordination with the High Committee for the Reconstruction of Mosul, and listed in coordination with the Ministry of Planning.
-The Ministry of Industry and Minerals shall rehabilitate factories and laboratories in Nineveh Governorate, according to the available financial allocations.
-The Civil Aviation Authority, in coordination with the French party, undertake appropriate measures as soon as possible regarding the follow-up to the implementation of the rehabilitation of Mosul International Airport.
-The Tourism Authority of the Ministry of Culture is reviewing the investment contract for the Nineveh International Oberoi Hotel.
-Construction of Al-Hawli Street and the sixth and seventh bridges in the city of Mosul.
-The Ministry of Construction, Housing, Municipalities and Public Works will resume working in the centralized ministerial projects in Nineveh Governorate, in coordination with the Ministry of Planning, according to the financial allocations.
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