WOTS TUE JUL 19 22 Barzani's party presents two options to Bafel Talabani to break the knot of the presidency
In the impact of "Al-Maliki's recordings"... Muqtada Al-Sadr to Hadi Al-Amiri: Be the head of the new government and the movement will support you
Shafaq News has learned that the leader of the Sadrist movement, Muqtada al-Sadr, asked Hadi al-Amiri, the leader of the "Al-Fatah coalition", to nominate himself for prime minister.
Informed sources told Shafaq News Agency, that Al-Sadr contacted Al-Amiri in this regard, and informed him that the current would be supportive of Al-Amiri's candidacy, as he had submitted this nomination.
The sources added, that the coordinating framework is working to resolve the issue of the nomination, with a division within its pillars, between the nomination of a personality from the second-rank leaders, and the renewal of Prime Minister Mustafa Al-Kazemi.
This development comes in the midst of a dispute that escalated when audio recordings attributed to the leader of the State of Law coalition, Nuri al-Maliki, were spread, in which he strongly attacked Muqtada al-Sadr, the popular crowd, leaders and political currents.
Although al-Maliki's office denied the accuracy of these recordings, Muqtada al-Sadr issued a strongly worded response, calling on al-Maliki to quit political work or surrender himself to the Iraqi judiciary.
The political scene in Iraq is already tense with the passage of ten months since the formation of the government faltered, due to differences between al-Sadr and leaders in the coordination framework led by al-Maliki, which called on the Sadrist movement to withdraw with political action, giving the formation of the government to the framework.
Conflicting Opinions Of Government Advisers Regarding Self-Financing
The economic advisor to the caretaker prime minister, Mazhar Muhammad Salih, ruled out, on Tuesday, the possibility of converting some ministries to “self-financing,” indicating that this needs a major legal amendment.
Saleh said in an interview seen by "The Information", that "the idea of converting 4 ministries into a context that is somewhat similar to self-financing, needs a major legal amendment, because the budget and exchange units are completely central."
He added, "The idea put forward by Counselor Haitham al-Jubouri is to convert some ministries into revenue, and these revenues cover current operational expenses, as the operational aspect includes current expenses that include employment and salaries."
He explained that “the current budget has two parts; The first is the operation of the management of the public office and its costs, and the other part is salaries and wages, and the latter is paid into the federal general budget through the operating budget that pays salaries, wages and the cost of operating the budget, which is called the current budget according to the financial literature.
Saleh added, “The proposed idea needs a legal amendment to transform these ministries into revenue ministries, meaning that their services are paid for as if they are a private sector, and this collection pays as salaries to its employees and covers its expenses instead of taking fees and taxes that go as central revenues, and therefore it will be a decentralized revenue, and this (( A hybrid context) because we have self-financing units that are subject to quasi-market rules governed by the provisions of the Public Companies Law No. 21 of 1997 and that these companies make profits that are costs and revenue and work on a revenue-equivalent point that covers the costs with everything in it, so this pattern is called (hybrid public finance)
You need to amend a law that entails rights and duties related to retirement and others that reduce public revenues as a cost, and this pattern, although it can be put forward and discussed, will fall prey to a great controversy from the accounting, financial and legal aspects.”
Disclosure of the objectives of the meeting of the Presidency of the House of Representatives yesterday
Deputy Speaker of Parliament, Shakhwan Abdullah Ahmed, revealed today, Tuesday, the objectives of the meeting of the presidency of the Council, which he held yesterday in the Constitutional Hall with heads and representatives of political blocs, while stating that the House of Representatives distances itself from political conflicts and disagreements and is keen to expedite the formation of the government
Abdullah said in a statement received by Alsumaria News, "The meeting of the presidency of the Council, which was held yesterday in the Constitutional Hall with the heads and representatives of the political blocs, was aimed at restoring the work and activities of the Council after the legislative recess, completing the number of committee members with new representatives, agreeing on the agenda and incorporating laws." , adding that "the Council will not be a party to the differences and problems, as long as some political forces fail to agree on a national figure for the prime minister capable of leading the country in the current situation and this difficult stage," noting that "there are unfortunately those who are trying to plunge the legislative institution into the crisis and throwing The ball is in its court, and the blockage, previous data, and the difference in positions of the parties complicated the political scene
He added, "The House of Representatives distances itself from political conflicts and disagreements, and is keen to speed up the formation of the government and not set a date for electing the President of the Republic unless preceded by a political agreement outside the House, and the completion of the constitutional entitlements
Abdullah called "the national forces and the parties to the political process to the need to continue dialogues, understandings and agreement on selecting and nominating personalities for the prime ministers and the republic, so that the House of Representatives can do its part and proceed with legal procedures in accordance with the constitution and the rules of procedure and determine the session for electing the president of the republic and assigning the candidate of the largest bloc, and the House of Representatives does not prefer to hold sessions." Electing the President of the Republic and assigning a personality to the prime minister unless preceded by a political agreement outside the parliament because this will lead to complexity and more disputes, explaining that “the House of Representatives will not be an arena for deepening differences and seeks to unify the visions of the political forces, and will work to perform its legislative and oversight tasks and continue its daily work with The beginning of the new legislative term.
The Najaf authority clarifies its position on the prime ministerial candidates
A source close to the Undersecretary of the Supreme Religious Authority, Ahmed Al-Safi, denied the news that the religious authority interfered in the issue of nominating political figures to head the next government.
Sources stated that "the Marja'iya and its agents never interfere with the nomination, appointment or recommendation of personalities to occupy positions in governments since the fall of the regime to this day, and it is still committed to this approach."
He said: "What is being raised on social media is baseless, and there is no secret or public move to impose, nominate or support political figures to run the next government (the position of prime minister)
Barzani's party presents two options to Bafel Talabani to break the knot of the presidency
On Tuesday, sources revealed that the Kurdistan Democratic Party (KDP) has proposed two options for the Patriotic Union of Kurdistan in order to "untie the knot" of the presidency.
Yesterday, Monday, Fuad Hussein, head of the negotiating delegation of the Kurdistan Democratic Party, met with the President of the Patriotic Union, Bafel Talabani.
According to information published by the Kurdistan Democratic media and followed by "Nass" (July 19, 2022), "Al-Party again rejected the nomination of Barham Salih by the Patriotic Union of Kurdistan for the position of president, and in return he presented two options for the Patriotic Union of Kurdistan."
He added, "The first option for Al-Party is for the position of the President of the Republic to be democratic as an electoral entitlement, and in return, the Union will obtain the federal ministerial positions designated for the Kurds."
The second option, according to Al-Party media, was that "the Patriotic Union of Kurdistan withdraw Barham Salih and that the two sides agree on a joint candidate for the post of President of the Republic."
Informed Kurdish sources said that "Bavel Talabani confirmed that their candidate is Barham Salih, and they insist on his election to the post of president."
The head of the negotiating delegation of the Kurdistan Democratic Party, Minister of Foreign Affairs, Fuad Hussein, arrived in Sulaymaniyah, where he began a meeting with the President of the Patriotic Union, Bafel Talabani, with the aim of resolving the issue of electing the presidency of the republic, according to a Kurdish source.
An official in the Kurdistan Democratic Party told Voice of America - the Kurdish version that Al-Party will not repeat the experience of 2018 to enter the presidential race with candidates for the two Kurdish parties, and he may boycott the government or the President of the Republic if his demands are not met.
The Kurdish movement comes after demands and pressures exerted by political forces from the "coordinating framework" on the Kurdish blocs, with the aim of deciding the presidency, while political sources said that the forces of the "coordinating framework", although they tend to the National Union, and its current candidate Barham Salih, But it mainly seeks not to anger the Democratic Party, and to ensure its participation in the next government.
A new statement by the Central Bank on the currency sale window and the establishment of a sovereign fund
The Central Bank of Iraq clarified the purpose of its call to establish a sovereign fund, while noting that the currency sale window was found to facilitate the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf, said that "the bank's management called for the necessity of allocating a sovereign fund to benefit from the financial abundance of the state," explaining that "the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of Finance in the basic degree."
Khalaf added, "The Central Bank contributes to the management of this fund."
On the currency sale window, the deputy governor confirmed that "the currency sale window was found to facilitate the financing of foreign trade in the basic degree."
He emphasized, that
A Deputy Reveals The Most Prominent Laws Ready To Vote
The representative of the State of Law coalition Aref Al-Hamami confirmed, on Tuesday, that the meeting of the Presidency of the House of Representatives and heads of political blocs identified a set of laws that will be approved during the second legislative term, indicating that the amendment of retirement, social security and civil service is on top of those laws.
Al-Hamami said in a statement to / the information / that "the meeting of the Presidency of the House of Representatives with the heads of political blocs set a roadmap for the second legislative term, with its emphasis on holding eight regular sessions during one month."
He added that "the heads of the political blocs presented a set of laws that affect the citizen and provide him with the benefit for the purpose of approval during the legislative term, and on top of those laws are the amendment of retirement, social security and civil service."
Al-Hamami explained, "All the laws that were united for approval according to the sequence do not contain any political controversy or require political consensus."
Iran announces the signing of the first long-term agreement in the field of electricity with Iraq
Iranian Energy Minister Ali Akbar Mehrabian announced on Tuesday that his country had signed the first long-term agreement with Iraq in the field of electricity.
The semi-official Iranian news agency Fars quoted Mehrabian as saying that the trend towards concluding long-term strategic agreements in the field of electricity is one of the most important diplomatic axes for the current government, which has led to bright results for Iran.
He added that Iran is the largest exporter of electricity production and distribution among West Asian countries, and it was the strongest country in this field among the mentioned countries despite the slow pace of developing the electricity industry over the past years.
The minister considered Iran the highest country in the field of electricity among West Asian countries, saying: Iran's ability in this field is not limited to electrical stations, but rather it has become an important place among the countries of the world due to its scientific development, as it intends to export all kinds of engineering services in the field of electricity as well.
Iraq has been suffering from a chronic electricity shortage crisis for decades as a result of the siege and successive wars. For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.
Iraq is holding talks with Gulf countries, led by Saudi Arabia, to import electricity from them by linking its organization with the Gulf system, after it had depended on Iran alone during the past years by importing 1200 megawatts as well as gas fuel to feed local electric power stations.
Iraq also intends to import electricity from Jordan and Turkey, in an effort from Baghdad to fill the shortage until it builds power stations that are able to meet local consumption.
Iraqi Oil: We achieved large financial revenues in return for limited quantities
The Iraqi Oil Ministry confirmed on Tuesday that it is keen to implement projects that contribute to sustaining and increasing national production of crude oil, and working to achieve a high flow of crude oil to global markets in support of the national economy.
The First Vice President of the National Oil Company - Executive Director Hamid Younis said in a statement received by Shafaq News Agency; The national staff, in cooperation with international contracting companies, continues day and night in order to implement the planned programs for these projects despite the economic and health challenges and high temperatures.
Younis affirmed the ministry's endeavor to implement more projects to upgrade infrastructure, expand export capabilities and develop southern ports, in proportion to the expected increases, pointing to the ministry's success in exporting limited quantities with large financial revenues ranging between (10-11) billion dollars per month, contributing to Support the national economy.
During a meeting he held with officials in the Basra Oil Company, the Vice President of the National Oil Company stressed the importance of accelerating the implementation of the planned projects, the importance of developing oil fields in the south to support national production, and working to improve the investment environment in the oil sector, to attract more discreet international companies. The company is working to expand the horizons and develop its investment and commercial philosophy in order to enhance its economic and development role.
Younis expressed his hope that the group of projects concluded by the ministry and the company with Total will contribute to increasing and sustaining production, including the project to transfer sea water to oil fields, and increase oil production from Artawi, as well as investing in gas and clean energy.
Younis' statements came during an inspection tour of the Basra Oil Company and the Faw oil port, to follow up on the implementation of a number of infrastructure development projects aimed at sustaining and increasing production and escalating export capacities, including the marine pipeline system project and storage and pumping stations in the Faw port in Basra Governorate, according to the statement.
Al-Maliki is the most prominent of them.” The coordination framework holds an important meeting to resolve the candidates for the prime minister
The leader in the coordination framework, Fadel Mawat, revealed today, Tuesday, that an important meeting was held for the framework in order to resolve the candidate for prime minister, while stressing that the leader of the State of Law coalition, Nuri al-Maliki, is the most prominent candidate for this position.
Mowat said, in an interview with Earth News, that "the leaders of the coordination framework will hold, this evening, an important meeting in order to resolve the candidate for prime minister," noting that "there are four candidates for this position, but the most prominent and most fortunate is the leader of the State of Law coalition, Nuri al-Maliki. “.
And Mowat indicated that "the coordination framework meeting will discuss the issue of political pressure on the Kurdish forces in order to expedite the resolution of the dispute over the presidential candidate," stressing that "this dispute obstructs the completion of the formation of the new Iraqi government.
Deep Concern” .. The Central Bank Expects A 4% Drop In Iraqi GDP Due To Drought
The Director General of the Investment Department of the Central Bank of Iraq expected that the real GDP of Iraq would decrease by 4%, due to the problems of climate change and high temperatures, which coincide with the contradiction of Iraq's water shares from the Tigris and Euphrates.
“Central banks are necessary to combat climate change, although it is difficult for central banks to integrate climate change risks into their analytical and modeling frameworks, but they still play a role in acting,” Ahmed said in an article on the omfif website, which specializes in banking development. Studying the effects of climate change and encouraging the transition to a green economy can do all this while maintaining an effective financial system and managing inflation, interest rates, growth, prudential policy and behavioral incentives.”
He added, “Climate-related risks add distinct challenges for central banks. The first problem is one of the reliable information about a green transition. Second, the real risks of climate change and a turbulent green transition may not be linear and manifest in the medium to long term. Third, the future of change is difficult to predict. environment and work that is highly dependent on political events.”
He continued, "Central banks have various ways to mitigate climate-related risks, they can reduce the size of polluting companies and support new companies that aim to reduce carbon emissions through financing channels, and they can help spark broader reform - central banks can constrain the ability of commercial banks to provide Financing for companies with a high carbon footprint while providing low-interest loans for green and renewable energy projects. Given this, the focus is now on macroprudential management, guidelines, management assumptions and stress testing with greener monetary policy.”
He warned that “the Central Bank of Iraq is deeply concerned about the impact of climate change on the Iraqi economy after the dramatic weather events – with record temperatures exceeding 50 degrees – Iraq experienced dry land and a shortage of clean water from the Tigris and Euphrates rivers and groundwater, we estimate that these trends It could lead to a 4% decrease in Iraq’s real GDP, regardless of any gains in GDP levels due to higher oil prices.”
He cautioned that “the Central Bank operates in one of the largest oil-exporting countries in the world and relies heavily on crude oil revenues, which constitute more than 95% of Iraq’s fiscal budget and about 60% of its gross domestic product. However, the significant risks posed by climate change It prompted the Central Bank to take urgent action, for example, we are currently providing 1 trillion Iraqi dinars ($690 million) with low interest and soft-term loans for water, green and renewable energy projects.”
He noted that “loans will be provided through local banks. In addition, we are working with local government partners to raise awareness about the economic impacts of climate-related risks on the Iraqi people. We hope that by taking such an approach, we can avoid accelerating the severity of climate risks.” and cooperate with government, media and private organizations to achieve the necessary cultural change.”
Masrour Barzani: If the problems with Baghdad remain unresolved, it is not in the interest of all Iraqis
Kurdistan Regional Government Prime Minister Masrour Barzani said today, Tuesday, that the problems with Baghdad remain unresolved does not serve the interests of all Iraqis.
This came during his meeting with the French Ambassador to Iraq Eric Chevalier, in the presence of the French Consul General in the Kurdistan Region, Olivier Dekotini.
A statement issued by the media office of the President of the Kurdistan Regional Government stated that the two sides discussed the latest developments in Iraq, in addition to discussing ways to strengthen relations between France and the Kurdistan Region.
The statement indicated that the outstanding problems between the Kurdistan Region and the federal government and the need to solve them on the basis of the constitution occupied a major focus in the meeting.
The Prime Minister reiterated the Kurdistan Region's firm stance towards solving problems fundamentally through dialogue and in accordance with the constitution, and indicated that the problems remain unresolved and unresolved, and aggravating the situation is not in the interest of security and stability and the general Iraqi citizens, according to the statement.
With regard to the political process and efforts to form the new government, the prime minister stressed the need to respect the principles of partnership, true participation, balance and consensus.
The meeting also dealt with the issue of addressing the threats posed by ISIS terrorists and the importance of the international coalition continuing to support the Peshmerga.
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Al-Maliki's recordings confuse the mechanism of naming a candidate to head the Iraqi government
Al-Maliki's recordings confuse the mechanism of naming a candidate to head the Iraqi government
It is noteworthy that a number of lawyers submitted last Sunday a request to inform the Iraqi Public Prosecution regarding the recordings in which Al-Maliki attacked political parties and forces, the army, the police, and a number of countries.
The investigation into these recordings, which has become known as "WikiLeaks al-Maliki", is the first of its kind carried out by the judiciary against a political leader of the size of al-Maliki, who is one of the first-line leaders. Al-Maliki, who leads the Dawa Party, assumed the presidency of the Iraqi government for two terms (2006-2014), and his coalition "State of Law" in the recent parliamentary elections that took place late last year won second place after the Sadrist bloc.
The leaks attributed to al-Maliki, the fifth recording of which was published yesterday, which is the most important so far, mixed the papers of the forces of the Shiite coordination framework at a time when he was about to reach a mechanism to choose their candidate for prime minister. The recordings that appear successively and reveal Al-Maliki's way of thinking, whether about his opponents, led by the leader of the Sadrist movement, Muqtada al-Sadr, or his allies forced everyone to stop talks to form a government. Al-Maliki appeared in those recordings so bitter against Al-Sadr and his followers that he called them the most harsh descriptions, among them “cowards” or describing Al-Sadr as “the killer.” It also did not provide any of the political partners, including the Kurds, especially Massoud Barzani and the Sunnis, especially Muhammad al-Halbousi.
In the last recording, al-Maliki revealed his plan to ally with the Iranian "Revolutionary Guard" without the "informations". But the most important thing about the leak, which drew the attention of observers and observers and those familiar with the Shiite affairs, is that all the information that al-Maliki spoke with, with this brutal frankness, was in front of an obscure Shiite group, which is a simple brigade affiliated with the crowd called “The Defense Mobilization.” This submerged brigade is led by an unknown person in Diyala province who is motivating al-Maliki to wage a Shiite-Shiite war while taking the blessing of an obscure cleric who is also called “Ayatollah Mirza.” Medium in size. What is more, this cleric issued a statement in which he repudiated the armed faction to which he claimed to belong.
Al-Maliki, who was quick to deny the first registration as soon as he left, did not think that the registration process would be elaborate and sequential in this way. In fact, the statement issued by the Dawa Party, which included its denial of the recordings, included a phrase that drew observers and followers, namely “overheard” in the context of the recording installation; Which seemed to many observers and insiders that this amounted to an acknowledgment, albeit implicitly, of the authenticity of the recording, or perhaps parts of it, with the introduction of other voices to mix the papers.
But the most important thing in the process of shuffling the cards is the one that affected the coordination framework that was unified towards the leader of the Sadrist movement, Muqtada al-Sadr and his bloc, which won the highest votes in Parliament. The coordinating framework forces whose leaders, including al-Maliki, began competing for the position of prime minister, did not expect a heavy surprise of this kind. But this surprise, which astonished some, was in favor of forces of the same framework as the only beneficiary of it. While al-Maliki's political shares collapsed, his descriptions of his Shiite partners as "Iranians" led to confusion in each side's view of the other. According to observers and observers, the biggest loser after al-Maliki is the leader of the Conquest Alliance Hadi al-Amiri, while the biggest winner is the leader of Asa'ib Qais al-Khazali.
On the other hand, not even the fifth recording related to either the leader of the Wisdom Movement Ammar al-Hakim or the former Prime Minister Haider al-Abadi in al-Maliki’s recordings, but according to what is going on behind the scenes of the coordination framework, each of them was disturbed by the framework’s performance and his way of thinking in resolving the file Prime minister. Al-Hakim declared that he would not participate in the next government, but he was leading calm mediations between the Shiite parties, before the “WikiLeaks”; This made his task more complicated, especially after al-Sadr demanded that al-Maliki surrender himself to the judiciary. As for al-Abadi, who is considered one of the contenders for the position of prime minister, after the decline of the chances of the leaders of the first line of competition, he joined the leader of the Wisdom Movement in disassociating himself from the current tensions within the torn Shiite house.
For his part, Al-Amiri, who received what other forces loyal to Iran received in Al-Maliki's recordings, returned to the fore strongly during the past two days following the recordings scandal. While it was reported yesterday that al-Sadr, who maintained a balanced relationship with al-Amiri, contacted him for the purpose of running for the position of prime minister, with his blessing, the so-called “minister” of al-Sadr quickly denied this.
While the fortunes of al-Maliki ended permanently, the fortunes of both al-Amiri and al-Abadi declined, in contrast to the rise in the chances of a number of leaders of the second line in the Shiite house to compete for the position of prime minister, namely Muhammad Shia al-Sudani, former Minister of Labor and Industry, Faleh al-Fayyad, head of the Popular Mobilization Authority, and Asaad al-Eidani, governor Basra. Between this and that, the fortunes of the current Prime Minister, Mustafa Al-Kazemi, remain fluctuating up and down.
Baghdad Today) publishes the names of the members of the( framework committee to choose the prime minister and the candidates for the position
An informed political source said, on Tuesday, that four leading figures were chosen in the framework to name the next prime minister during tomorrow's meeting, indicating that five people are now competing for the position, most .notably Qassem al-Araji and Haider al-Abadi
The source said in an interview with (Baghdad Today) that "the committee formed by the coordination framework for choosing the prime minister includes four leaders from the first line, namely Hammam Hammoudi, Qais Al-Khazali, ".Ammar Al-Hakim, and Abdul-Sada Al-Fariji
He added that "the candidates for prime minister are Haider al-Abadi, Muhammad al-Sudani, Abdul-Hussein Abtan, Ali Shukri and Qassem al-Araji," ".noting that "the most fortunate are al-Abadi and al-Araji
He pointed out that "several determinants were set to choose the personality of the prime minister, and in light of those determinants, a personality acceptable ".to all parties will be chosen
Al-Hakim and Plasschaert discuss forming the next government
Mr. Al-Hakim discusses with Blackshart the formation of the next government and stresses the normativeness in choosing the prime minister and ministers
Mr. Ammar Al-Hakim, head of the National Wisdom Movement, discussed during his meeting with the representative of the Secretary-General of the United Nations in Iraq, Mrs. Jenin Blackshart, the path of forming the government and the upcoming benefits, stressing the importance of forming the government according to specific criteria in Choosing its president, parties and .ministers, stressing the need to form a harmonious team of efficient and impartial personalities
His Eminence called on all political forces to assume their responsibilities to end the current political impasse, reiterating the call for the Kurds to decide their candidate as a merit leading to .the formation of the government
His Eminence also stressed the importance of the international role in helping Iraq find solutions to the climate and food security crisis, pointing to the importance of the international presence at the cultural and social level and helping Iraq to overcome challenges, considering that Iraq's .stability is a necessity for the security and stability of the region and the world
Tony Blair Institute: Iraqis More Optimistic for the Future
A new report from the Tony Blair Institute for Global Change claims that Western perceptions of the Arab world are too often shaped by negative stereotypes and anecdotal evidence used to justify prejudicial views - rather than by reality.
As a result, it says, our understanding of who Arabs are, and what values and aspirations they have, too often misses the mark.
Among the Iraq-related statistics cited in the report:
- 68 percent of Iraqis do not want to rely on religious or international organisations to be responsible for providing services;
- 77 percent of Iraqis agreeing that their country's religious education and practices require reform;
- 67 percent of Iraqis consider themselves only moderately religious or not religious at all;
- 78 percent of Iraqis support young people learning technological skills;
- 64 percent of Iraqis have a favourable view of the US;
- 76 percent of Iraqis have a favourable view of the UK;
- 46 per cent of Iraqi respondents agreeing with this statement that their best days are ahead of them, as opposed to only 20 per cent in 2020;
- the percentage of Iraqi people who felt that boys' university education should be prioritised fell from 46 per cent in 2004 to 22 per cent in 2018;
- In Iraq's elections last year, women surpassed the gender quota, making up almost 30 percent of parliamentarians (they won 97 of 329 seats in the Council of Representatives of Iraq);
Click here to view or download the full report.
Iraqi e-Commerce Venture raises New Investment
The Iraq-based e-commerce business Orisdi has raised a new six figure investment round that included the participation of existing and new investors.
The round was facilitated by the Iraqi Angel Investors Network (IAIN) and served to reinforce the continuous growth of the business and the growing potential of e-commerce in Iraq.
The round saw the return of existing investors, including Al Sharqiya TV, Mohamed Shaikley, Amar Shubar, Nour Sabri, Kerem Danish, Omar Al Handal from Al Handal International group, and Bassam Falah from Innovest Middle East to reaffirm their commitment to the company. The round also saw the participation of new investors, including Mohamad Ferej, Rayya Al Zubaydi, and others. Ferej is a tech industry veteran and has held leading roles in Ericsson, Lumentis, and Transmode and experienced a successful M&A and IPO.
Orisdi is a leading vertically integrated e-commerce store in Iraq that offers buyers a convenient shopping experience for a wide range of products to distupt the Iraqi retail market. Orisdi is focused on multiple categories including perfumes, cosmetics, appliances, stationery and electronics, amongst others.
The Total Addressable Market ("TAM") for e-commerce in Iraq has been growing rapidly on the back of a young population that is increasingly internet savvy. Statista estimates the TAM to be $5.667B in 2022 and is expected to grow to $8B over the coming three years.
Ahmed Al Kiremli (pictured), the Founder & CEO of Orisdi, commented:
"We plan to continue to focus on our winning categories as a vertically integrated e-commerce store and to offer only genuine brands".
He added that the company continues to be the most efficient e-commerce player in Iraq in terms of units of economics compared to its competitors through continuous learning and processes optimization and that the business is approaching the break-even point.
Mohsen Khairaldin Garica, Managing Director of Investments at Al Sharqiya Group and a member of the Iraqi Angel Investors Network, commented:
"I believe we will soon see an increase in M&A opportunities in the Iraqi e-commerce market as ventures like Orisdi and its competitors mature. Mohammed Shaikley, one of the early and returning investors of Orisdi ... We are happy to see the rising interest and involvement of regional VCs in Iraq during the last 12 months. Iraq has a big potential as a tech market with an underserved population of over 42 million".
Al Kiremli added:
"We were able to overcome an important milestone by completing the company registration at Abu Dhabi Global Markets (ADGM); this will provide a more attractive legal structure for regional and international VCs looking for exposure to Iraq's e-commerce future."
So If you are an angel investor or a VC interested in investing in the Iraqi tech ecosystem, Orisdi remains open to raising additional funds in order to facilitate the scaling of the company.
The investment has been facilitated by the Iraqi Angel Investors Network, an initiative by Kapita sponsored by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH via its project "ICT for Youth in Iraq".
Mawazine publishes the text of Cabinet decisions today
Prime Minister Mustafa Al-Kazemi chaired, today, Tuesday, the twenty-sixth regular session of the Council of Ministers, in which the developments of the general situation in the country were discussed, and a number of vital files related to providing services to citizens were discussed.
The session witnessed the hosting of the person authorized with the powers of the minister to manage the Ministry of Electricity, who briefed the Council on the current status of electricity.
In this regard, Al-Kazemi stressed that maximum efforts should be made to expedite the treatment of some of the problems currently facing the electricity system, and directed the ministry’s workers and maintenance teams to quickly address the symptoms that the network suffers from and any defect that occurs to it.
The Council of Ministers discussed the central strategic plan (short, medium, and long-term) of the Ministry of Electricity, and directed the presentation of the study in a joint meeting of the Ministerial Council for Energy, Economy and Electricity within a maximum period of ten days, and the results will be presented at the next cabinet session.
The Minister of Water Resources reviewed the process of lifting abuses on water quotas, and the problems facing workers assigned to raise them.
The Commander-in-Chief of the Armed Forces directed the competent security forces to provide full support and protection to the cadres of the Ministry of Water Resources in their campaign to lift abuses to confront the state of water scarcity.
Al-Kazemi directed all security leaders to take all required measures for the purpose of quickly arresting the person who had shot a gunshot wound to one of the ministry’s cadres in Wasit Governorate, and bringing him to justice to receive his just punishment.
The session witnessed a review of the epidemiological report, the procedures of the Ministry of Health in the face of the Corona pandemic, and its procedures to confront the high rate of injuries among citizens, and to provide all the required supplies.
After discussing the topics on the agenda, the Council of Ministers issued the following decisions:
First / Approval of adding (printing and reproduction devices and stationery materials) to the Council of Ministers Resolution (137 of 2022).
The aforementioned decision had authorized the Ministry of Education and the General Directorates of Education in the governorates to purchase and prepare materials (water, fuel, generators, and air fans) for the exam centers from allocations (examination fees) for the current year / 2022, as an exception to the Ministry of Finance circular No. (133133), dated December 27, 2021, and the contracting methods stipulated in Article (3) of Government Contracts Instructions (2 of 2014).
Second / Approval of the recommendation of the Ministerial Council for the Economy, according to the following:
- Be patient in issuing export licenses for feed materials (fodder barley, hay, jett, and bran from corn residues) until October 1, 2022, to enable livestock breeders to obtain sufficient quantities of feed, To ease the burdens on their shoulders, and to maintain a balance in the prices of meat and animal products in the local markets, according to what was stated in the letter of the Ministry of Agriculture No. (TM/22/337) dated May 25, 2022.
Third / Approval of the exception of the project (Rehabilitation of Mosul Airport International) is one of the contracting methods in the instructions for implementing government contracts (2 for the year 2014), and the instructions for implementing the federal budget in force.
Fourth / Approval of the amendment of Cabinet Resolution (423 of 2021) to become as follows:
- The Ministry of Defense / Naval Force Command undertakes the contract for the construction of 3 marine boats for the Coast Guard, and the profitable oil ministry companies undertake to finance the project (as it serves its oil facilities), after the Ministry of Planning includes the project within the allocations of the Ministry of Defense; To ensure the possibility of financing and spending in the event that the companies of the Ministry of Oil are unable to complete the financing.
Ambiguity about devaluing the exchange rate.. Parliamentary Finance warns against violating it
Deputies in the Finance Committee rule out returning the exchange rate to what it was about two years ago, despite the financial surplus achieved from oil prices, while noting that changing it at the present time will generate compensatory claims by the owners of some investment projects contracted for the government.
And the Central Bank of Iraq decided in December 2020, to amend the exchange rate of the US dollar to 145,000 dinars for every $100, according to the state’s general budget for 2021 approved by the House of Representatives.
Committee member Jamal Cougar says, “Restoring the dollar exchange rate to its previous era is difficult at the present time, and this matter is not one of the tasks of the House of Representatives, and it is incorrect according to a number of reasons,” noting that changing the exchange rate is one of the exclusive powers of the Central Bank of Iraq. and to the Ministry of Finance.
He added that "despite the financial surplus achieved by the rise in oil prices, there is a debt owed by Iraq in favor of external and internal banks of no less than 100 trillion dinars."
Cougar pointed out that "the rise in oil prices is not stable, but rather came due to the crisis of the war between Russia and Ukraine, meaning when the war stops and things return to their normal state, oil prices will drop."
And he indicated, "Changing the exchange rate will generate compensatory claims by the owners of some investment projects contracted for the benefit of the state, meaning that the affected investor will demand compensation and therefore what some are promoting about the possibility of the House of Representatives issuing decisions that restore the dollar exchange rate are nothing but auctions and titillation for the feelings of the Iraqi street." .
Cougar ruled out, “Passing the 2022 budget law without forming a government, and that the latter is still subject to the consensus of the political forces on its formation, because the withdrawal of the Sadrist bloc from the political process confused the matter, and therefore it is difficult to predict how the mechanism of forming the next government will be.”
In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, says, “Changing the exchange rate is possible, but it requires patience and careful study,” adding, “We need to cook on a quiet fire and monitor prices until the end of 2022, oil prices and foreign reserves.”
Saleh added, "The exchange rate of the dinar against the dollar follows stability, and it is not arbitrary, but rather a contract between the Central Bank of Iraq and the Ministry of Finance because the foreign currency offer comes from the Ministry of Finance, which is the only source for it in the country."
He pointed out, "The Central Bank deals in dollars to maintain cash reserves and prevent inflation, and the modern Iraqi financial history is witnessing cooperation in determining the dollar exchange rate between the Central Bank and the Ministry of Finance."
He continued, "Everything is possible, but we need patience in changing the dollar exchange rate in the event of an increase in prices and the fiscal policy is unable to cover the dinar," noting that "the Food Security Law, if it is not able to secure the requirements in the event of high prices, the Central Bank will intervene to preserve the strength of the dinar." against the dollar.
A list of the Iraqi dinar exchange rate against the dollar on the Iraqi Stock Exchange for today, Tuesday (July 19, 2022), according to specialists.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.8000 |  1493.0000 | 1458.1000 | 1458.1000 | 1458.1000 | -0.7000 | 06:14 |
| USD/VND | 23412.0000 | 23422.0000 | 23428.3700 | 23422.4100 | 23422.4100 | 6.1200 | 04:27 |
| USD/CNY |  6.7399 | 6.7419 | 6.7519 | 6.7388 | 6.7420 | -0.0020 | 05:19 |
| USD/KWD | 0.3069 | 0.3079 | 0.3075 | 0.3072 | 0.3075 | -0.0003 | 05:06 |
| GBP/USD | 1.2020 | 1.2020 | 1.2039 | 1.1924 | 1.1949 | 0.0071 | 05:19 |
| USD/IRR | 42100.0000 | 42600.0000 | 42378.5000 | 42358.6000 | 42378.5000 | 29.3000 | 11:44 |
| USD/IDR | 14964.0000 | 14964.0000 | 15005.0000 | 14946.0000 | 14976.0000 | -12.0000 | 05:19 |
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In the impact of "Al-Maliki's recordings"... Muqtada Al-Sadr to Hadi Al-Amiri: Be the head of the new government and the movement will support you
Shafaq News has learned that the leader of the Sadrist movement, Muqtada al-Sadr, asked Hadi al-Amiri, the leader of the "Al-Fatah coalition", to nominate himself for prime minister.
Informed sources told Shafaq News Agency, that Al-Sadr contacted Al-Amiri in this regard, and informed him that the current would be supportive of Al-Amiri's candidacy, as he had submitted this nomination.
The sources added, that the coordinating framework is working to resolve the issue of the nomination, with a division within its pillars, between the nomination of a personality from the second-rank leaders, and the renewal of Prime Minister Mustafa Al-Kazemi.
This development comes in the midst of a dispute that escalated when audio recordings attributed to the leader of the State of Law coalition, Nuri al-Maliki, were spread, in which he strongly attacked Muqtada al-Sadr, the popular crowd, leaders and political currents.
Although al-Maliki's office denied the accuracy of these recordings, Muqtada al-Sadr issued a strongly worded response, calling on al-Maliki to quit political work or surrender himself to the Iraqi judiciary.
The political scene in Iraq is already tense with the passage of ten months since the formation of the government faltered, due to differences between al-Sadr and leaders in the coordination framework led by al-Maliki, which called on the Sadrist movement to withdraw with political action, giving the formation of the government to the framework.
A new statement by the Central Bank on the currency sale window and the establishment of a sovereign fund
The Central Bank of Iraq clarified the purpose of its call to establish a sovereign fund, while noting that the currency sale window was found to facilitate the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf, said that "the bank's management called for the necessity of allocating a sovereign fund to benefit from the financial abundance of the state," explaining that "the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of Finance in the basic degree."
Khalaf added, "The Central Bank contributes to the management of this fund."
On the currency sale window, the deputy governor confirmed that "the currency sale window was found to facilitate the financing of foreign trade in the basic degree."
He emphasized, that
The Najaf authority clarifies its position on the prime ministerial candidates
A source close to the Undersecretary of the Supreme Religious Authority, Ahmed Al-Safi, denied the news that the religious authority interfered in the issue of nominating political figures to head the next government.
Sources stated that "the Marja'iya and its agents never interfere with the nomination, appointment or recommendation of personalities to occupy positions in governments since the fall of the regime to this day, and it is still committed to this approach."
He said: "What is being raised on social media is baseless, and there is no secret or public move to impose, nominate or support political figures to run the next government (the position of prime minister)
CBI Update: Just a note:
including $51,350,000. CASH
ISX Update: NOT UPDATEDShares Traded: Value Traded:
closed
A Nutritionist Reveals A Herbal Plant That Prevents Us From Overeating
Dr. Tatiana Zalitova, a Russian nutritionist, announced that by adding one herbal plant to the food we can avoid overeating, because it enhances the feeling of satiety.
In an interview with Radio “Sputnik”, the expert points out that the desire to enjoy eating may be a major reason for weight gain. Therefore, the feeling of satiety can be enhanced by adding one type of spice to food.
“Often the main reason for overeating is that it is an easy source of pleasure,” she says. But there is a way to have more fun while eating less. By adding mint to food or drink.
And she adds, the feeling of pleasure from eating appears, thanks to the body's secretion of the hormone of happiness - endorphins. And mint contains a substance that stimulates the production and secretion of this hormone.
She says, “Mint contains volatile oils that contain menthol, which stimulates the production and secretion of endorphins, which play an important role in regulating mood and are responsible for feeling hungry and full. That is, the brain reacts when eating mint with food, which shows the person a feeling that a joyful and enjoyable event has occurred. And it can give a feeling of joy more than eating large amounts of food.”
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