WOTS FRI OCT 22 21 The Central Bank discusses with its Saudi counterpart cooperation in the external banking sector
These are the articles I discussed on the My FX Buddies Podcast today:
Urgent: The President of the Kurdistan Regional Government receives the British Ambassador to Iraq
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received today, Thursday, October 21, 2021, the British Ambassador to Iraq, Mark Bryson Richardson.
During the meeting, they discussed the general situation in Iraq after the success of the parliamentary elections, as well as ways to develop relations between the Kurdistan Region and Britain.
The Prime Minister expressed his hope that the election results will contribute to stabilizing the Iraqi situation and resolving the outstanding issues between the Kurdistan Region and the federal government.
The two sides also discussed the reforms of the Ministry of Peshmerga and addressing the dangers of ISIS terrorists, and the importance of implementing the Sinjar Agreement and normalizing the situation in the region
Iraq chairs an important meeting to remove its name from the European list of high-risk countries
The Iraqi Ministry of Foreign Affairs announced the participation of the delegation of the Republic of Iraq to the European Union in the technical meeting of the expert group concerned with removing the name of Iraq from the European list of high-risk countries in the field of combating money laundering and terrorist financing .
And the Iraqi Foreign Ministry stated - in a statement reported by the Iraqi "Alsumaria News" channel - that "Ambassador Abdul Karim Tohma Kaab, head of the Europe department, next to him, head of the mission of the Republic of Iraq to the European Union, Ambassador Sadiq Al-Rikabi, and Deputy Head of Mission, Minister Plenipotentiary Fadel Al-Rahim, chaired a technical meeting that was held In the Belgian capital, Brussels, the Iraqi team concerned with removing the name of Iraq from the European list of high-risk countries in the field of combating money laundering and terrorist financing and the European team concerned with this file in the European Commission and the Department of External Action .
The technical team presented - according to the statement - "a review of the achievements of the Iraqi system for combating money laundering and terrorist financing, the latest developments in the anti-money laundering and terrorist financing laws, the types of supervisory authorities and their work as the Anti-Money Laundering and Terrorist Financing Council, the Committee for Freezing Terrorist Funds, institutions concerned with combating organized crimes, and the judiciary." And the most important achievements of Iraq under the first national strategy to combat money laundering and terrorist financing for the period (2017-2020).
Then, "the observations and inquiries of the European side were discussed regarding the information provided by the Iraqi side regarding criminalization laws, the number of convictions, the type of penalties for perpetrators of money laundering and terrorist financing, banks' procedures for due diligence for customers and international cooperation in the field of combating money laundering and terrorist financing ."
At the conclusion of the meeting, Ambassador Abdul Karim Tohme Kaab affirmed Iraq's aspiration to remove its name from the European list of countries with risk in the field of combating money laundering and terrorist financing, especially since Iraq has met all (FATF) standards and provided the European side with all the documents it requested, which proves that it meets all European standards "
The Saudi Fund for Development discusses developing cooperation with Mauritania and Iraq
Riyadh - Mubasher: The CEO of the Saudi Fund for Development Sultan bin Abdul Rahman Al-Murshed received today, Thursday, the Chairman of the Board of Directors of the National Bank of Iraq, Basem Al-Salem, and the CEO of the bank in the Kingdom, Yazid Abu Nayan.
During the meeting, they discussed the financing line signed between the Saudi Fund for Development and the National Bank of Iraq to finance Saudi exports to the Republic of Iraq, according to the Saudi News Agency "SPA".
It is noteworthy that the financing line signed with Al-Ahly Bank will contribute to strengthening trade relations between the two brotherly countries.
It is noteworthy that a delegation from the Saudi Fund for Development headed by Abdul Mohsen bin Abdul Rahman Al-Khayal visited the Mauritanian capital, Nouakchott, where the delegation held talks with the Minister of Economic Affairs and Promotion of Productive Sectors Ousmane Mamoudou Kan, in the presence of the Ambassador of the Custodian of the Two Holy Mosques in the Islamic Republic of Mauritania, Hazza bin Zabin. Al-Mutairi, Nasser Al-Haqbani, CEO of Sulaiman Al-Habib Medical Group, and Nasser Al-Aqeel, from the Saudi National Companies Entrepreneurship Program.
The delegation’s discussions dealt with ways to stimulate the participation of Saudi companies in the completion of King Salman bin Abdulaziz Hospital in Nouakchott, which is funded by a grant from the Kingdom’s government through the Saudi Fund for Development, for the design, implementation, supervision and operation phases, so that Al-Habib Medical Group will participate in supervising and modifying the hospital’s designs.
The Minister of Economic Affairs and Productive Sector Promotion emphasized the depth and strength of the relationship between the Islamic Republic of Mauritania and the Kingdom of Saudi Arabia in the field of economic cooperation, noting the importance of the King Salman Hospital project, in addition to the capabilities and competencies possessed by the Saudi companies represented in this meeting.
The head of the Saudi Fund for Development delegation stressed that the purpose of the visit was to review the developments in the project, which is expected to be an ideal model, in addition to other projects funded by the Fund, in cooperation with Saudi companies.
The tasks of the Fund’s delegation dealt with exchanging information with the National Health Insurance Fund, reviewing statistics and information related to the insurance sector, including the number of subscribers, sick cases, future needs for expanding coverage, and deduction rates for each insured person.
It is noteworthy that the Kingdom's government, through the Saudi Fund for Development, provided 10 grants to implement development projects in the infrastructure, water, education and health sectors. The Fund also contributed by providing (18) development loans to contribute to the financing and implementation of (16) projects in different sectors in the Republic of Mauritania.
The Central Bank discusses with its Saudi counterpart cooperation in the external banking sector
Central Bank Governor Mustafa Ghaleb discussed with the Saudi Central Bank administration cooperation in the external banking sector.
The bank said in a statement, "The Governor of the Central Bank, Mustafa Ghaleb, visited today the Saudi capital, Riyadh, accompanied by a delegation from the Iraqi banking sector, to enhance bilateral relations and prospects for cooperation in the banking sector and to exchange experiences with the Saudi side."
He added that "the governor met with the management of the Saudi Central Bank on the sidelines of this visit, where the Saudi side welcomed the governor and his accompanying delegation, considering this visit a gateway to deepening relations between the two brotherly countries and the two monetary institutions, and a step that will reflect positively on both sides."
He added, "The willingness to open the field of exchange of experiences and cooperation in the foreign banking sector was discussed, in a way that would establish a positive stage in the economic relations between the Iraqi side and the Saudi side."
The Governor Of The Central Bank Meets The President Of The Arab Gulf Program For Development
The Governor Of The Central Bank Of Iraq, Mustafa Ghaleb Makheef, Met On Friday In Riyadh, Prince Abdulaziz Bin Talal, Head Of The Arab Gulf Program For Development, During His Visit To The Kingdom Of Saudi Arabia.
A Statement By The Central Bank's Media Office Said That Scary Was Accompanied By A Delegation From The Iraqi Banking Sector.
The Statement Added, "The Two Parties Discussed The Importance Of Joint Cooperation And The Exchange Of Experiences Between Iraq And Saudi Arabia."
World Bank: Oil prices will not decline before 2023
Today, Thursday, the World Bank expected that oil prices will not decline before 2023, while stressing that the rise may
threaten global growth.
In its report, in which it presented its forecasts for commodity prices, the bank says that crude prices are expected to record $70 a barrel at the end of the year, which is 70 percent higher compared to 2020, and this in turn causes the prices of other energy commodities such as natural gas to rise, according to the report.
"The rise in energy prices poses significant risks to global inflation in the near term, and if it continues, it could affect growth in energy importing countries," said World Bank chief economist Ayhan Kose.
The rises were "more pronounced than expected, and policy choices have been complicated as countries recover from last year's global recession."
Oil prices have risen in recent weeks to more than $80 a barrel, reaching their highest levels in years, with economies reopening following lockdown measures to curb the epidemic and shipping bottlenecks.
The World Bank uses the average prices of Brent, West Texas Intermediate and Dubai, which it said will remain "at high levels in 2022, but will begin to decline in the second half of the year as supply constraints ease."
Average prices are expected to rise in 2022 to reach $74 before declining to $65 in 2023, according to the World Bank.
However, the report warns of "the possibility of additional price hikes in the near term amid a severe inventory drawdown and ongoing supply bottlenecks."
A legal interpretation of the meaning of the caretaker government, its validity and the constitutional duration of its work
Legal expert Ali Al-Tamimi explained, on Friday, the meaning of the daily caretaker government, its validity and the constitutional duration of its work.
Al-Tamimi said in a blog post, which was followed by “Nass” (October 22, 2021), that “the daily caretaker government is a government that lacks powers for the purpose of carrying out some necessary work.”WhichThey are usually in the transitional phases, the elections phase, or an emergency phase, and they are not entitled toDeciding on important and crucial matters according to the theory (the continuation of public utilities), because people’s issues cannot be disrupted, as the state cannot stop, and these actions do not expose the government to political consequences due to the absence of Parliament.
He added, "This is what is meant by these actionsIt is the normal that is non-deterministic and by which life does not stop, and the constitution specified this period at 30 days in articles 61 and 64, and most of the world’s constitutions specified that30 days, as in Germany and South Africa. The period should not be long, except within the limits of the national interest.
He pointed out that "the oversight of the daily caretaker government is from the administrative judiciary, where its decisions can be appealed before it,It's called a narrow appeal."
He explained, "The caretaker government does not have the right to propose amending the constitution, enacting laws, concluding agreements or entering into them, not even contracts with states or appointments to special grades, or in short, every work that needs parliamentary oversight... It is a government that is already finished with the end of the parliament from which it came. ".
And he indicated that "what businesses have the right, for example, to sign contracts between ministries, to withdraw an amount for the payment of salaries, so their range is only one month."
He pointed out that "he may question the caretaker government if it exceeds the limits of its work from the judiciary or the next parliament in accordance with articles 329 and 240 of the Penal Code."
Al-Kazemi (number one) among the candidates to head the new government at the Najaf meeting
It has become known to most of those who are familiar with the behind-the-scenes nominations for the new government and its next president. Al-Kazemi is considered the name that bears (No. 1) among all the candidates for this position, and the reasons for this distinction are many, including that the man is accepted internally and externally, and there is no He was objected to by the Iraqi political, religious, or popular circles..
Therefore, his name has become at the forefront of the candidates, as an informed source from the State of Law coalition revealed that Najaf called for an important and urgent meeting that includes the leaders of the political blocs of the Shiite component, indicating that the meeting In the office of the religious authority, Ali al-Sistani, with his son, Muhammad Reda al-Sistani, indicating that this meeting includes the forces of the coordination framework on the one hand and the Sadrist movement on the other.
The source, who preferred not to be named, said that "the meeting is taking place today, and it aims to come up with a single bloc that brings together all the political forces of the Shiite house."
He added, "It is possible that the meeting will come out with one consensus, even if it remains as it is in two separate blocs, but there will be agreement on specific constants, in addition to resolving the issue of the prime ministership."
The source explained that it is “likely to agree that the position of the presidency of the Council of Ministers will not come out of the coordination framework,” noting that “there are a number of names of personalities proposed to occupy this position, led by Mustafa Al-Kazemi, Nuri Al-Maliki, in addition to Asaad Al-Eidani, Muhammad Shia Al-Sawadni, and Adnan Al-Zurfi, Hassan Al-Kaabi, Jaafar Al-Sadr, and Nassar Al-Rubaie.
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