Simplifies account opening and transfer processes.. Al-Rafidain explains the importance of adopting a comprehensive banking system
Al-Rafidain Bank explained, today, Tuesday, the importance of adopting a comprehensive banking system, while stressing the work to adopt two advanced systems in the field of combating money laundering and terrorist financing.
The video for this blog is posted below here:
The bank's general manager, Ali Karim Hussein, told the Iraqi News Agency (INA): "Since we took over the management of the bank, Al-Rafidain Bank has begun activating the comprehensive banking system in its branches spread across government institutions and border crossings where the collection system is large."
He explained, "The comprehensive banking system will simplify the procedures for opening accounts as well as transfer operations, so that the customer will be able to manage his account without accessing the bank."
He pointed out that "there are many reforms, including the adoption of the AML and GOAML systems, which are among the internationally required systems, specializing in the field of combating money laundering and terrorist financing, in addition to the adoption of electronic systems in which the human hand does not interfere, as they are the ones who prepare the lists and conduct the scanning process electronically and not Manually, and as a result, it will ensure the credibility of Rafidain Bank, as well as the banking sector in general, towards international institutions by adhering to the requirements and legislation for combating money laundering and terrorist financing.”
The Director General of Al-Rafidain Bank stated, “The bank’s previous work, due to the lack of an electronic network linking the bank’s branches, the customers were businessmen, merchants, and simple citizens, who could not carry out any banking operation within a short time, but at the present time the system has been transformed electronically, so the customer can go For any of our branches spread across Baghdad and the governorates that has a comprehensive banking system, he enters his account, and all his data will be available with the employee, which will make it easier for the customer to conduct banking operations, whether by withdrawal or deposit.”
Parliamentary Finance for Nina: There is no timing for the arrival of the budget schedules and there is no requirement to extend the legislative term
The Parliamentary Finance Committee resolved the controversy regarding the date of the arrival of the schedules of the federal general budget law to the House of Representatives, which is preparing to enter its legislative recess at the end of this week.
Committee member Representative Jamal Kujar said, in a statement to the National Iraqi News Agency ( NINA ), that “the schedules for the general budget law have not reached the House of Representatives yet, and there is no specific timeline for the arrival of those schedules.”
He explained, “Once the budget schedules reach the Finance Committee, the House of Representatives is mandated to interrupt its legislative recess and proceed to approve it because it is part of the general budget law, and there is a constitutional article that stipulates the legal status of the budget and the timing of its arrival if the House of Representatives’ recess is in effect.”
He added, "There is no requirement to extend the work of the current legislative term with the arrival of the budget schedules, because the House of Representatives has the right to call for holding special sessions on the general budget during the legislative recess."
The House of Representatives announced the start of the first legislative term of the third legislative year, on January 9, and then its acting speaker, Mohsen Al-Mandalawi, opened the work of Session No. (1) on Saturday, January 13 of last./End 5
Parliamentary proposals to extend the legislative term of the House of Representatives to resolve the budget issue
On Tuesday, the head of the Qaddoun parliamentary bloc, Kamel Al-Ugaili, suggested extending the legislative term of the House of Representatives in order to approve the federal budget law for 2024, pointing out that extending the legislative term requires a vote from Parliament.
Al-Ugaili said in an interview with the Maalouma Agency, “The House of Representatives will vote on Thursday to extend the legislative term for one month until the budget schedules are approved.”
He added, "The first legislative term of the third legislative year will end next May 9, after which Parliament will extend its legislative recess until June 9."
He pointed out that "extending the legislative term requires Parliament to vote with a full quorum while continuing to pass important laws."
Politician: America will not leave Iraq, and diplomacy is breathing its last breath
Political analyst Maher Abdel Joudeh revealed on Monday that there is no American intention to leave Iraq and the Middle East, stressing the necessity of adopting diplomatic solutions.
Judeh said in a statement to the Al-Maalouma Agency, “The Sudanese visit did not contribute to resolving the issue of the Americans’ withdrawal from Iraq, and the hopes of the popular circles were in vain.”
He continued, "The diplomatic solution and economic pressure is the effective action capable of pushing American soldiers outside the borders and eliminating their presence," stressing that "Iraq does not need the presence of American forces because the Iraqi forces can protect the country from any terrorist threat."
It is noteworthy that the Iraqi government formed a specialized committee in order to manage the file of the Americans’ exit from Iraq, and it has continued to work according to political controls, but the American efforts to stay may seem stronger this time.
Business Council: Efforts to open a branch of the Chinese Bank in Iraq
The Iraqi-Chinese Business Council seeks to open a branch of the Chinese Bank in Iraq, pointing out that the volume of trade exchange between the two countries reached 54 billion dollars during the past year.
Council President Haider Al-Rubaie explained to “Al-Sabah” that “Iraq is China’s third partner in trade exchange, which reached 54 billion dollars over the past year, and these numbers are increasing after the Central Bank opened commercial transfers to the Iraqi private sector in the “Remembi” currency for importers and merchants and their commercial exchanges. He added, "The value of Iraqi oil sales to China increased from 100,000 to 150,000 barrels through the agreement concluded between the two parties."
Al-Rubaie pointed to the increase in "the number of Chinese companies operating in Iraq implementing economic projects in oil, railways, roads and housing, as well as the entry of the Chinese private sector into Iraq that will help increase the value of trade exchange between the two countries," indicating that Baghdad is looking forward to obtaining international commercial agencies from the Chinese market, which It is the first in the world with the establishment of new factories to develop agriculture and green production by entering the field of solar energy, which is considered one of the most promising projects in China.”
He added, “The Friendship Society established the Iraqi-Chinese Labor Council, which sponsors commercial relations between the two countries by organizing contracts, selecting companies, and classifying members from Merchants, and serving the Iraqi working sector,” explaining that “the Chinese government launched, through the Chinese Bank, the opening of partnerships between banks through the application (Visa Card, eBay, and WeChat), as an Iraqi working with China can activate his card through an application launched by the embassy through the Central Bank.” To enter and use cards remotely, the Iraqi importer or merchant can pay amounts through Visa and link his bank account to Iraqi banks, in addition to the association’s efforts to open new outlets for banks and establish the Chinese Bank in Iraq, to help transfer money from China to Iraq, establish industrial cities, and organize Exhibitions and conferences that help the private sector.
Iraqi diplomacy is balanced openness
Iraqi diplomacy, in the government of Muhammad Shiaa Al-Sudani, identified a set of tasks and priorities that are based on balanced openness, between establishing the strongest and strongest relations with the countries of the world, but at the same time adhering to the constants of independence and preserving the country’s sovereignty and the interests of its people.
Director of the Iraqi Center for Strategic Studies, Professor of International Relations, Dr. Ghazi Faisal Hussein, said in an interview with Al-Sabah: “In accordance with the ministerial platform, Iraq is working to pursue diplomacy to build peace and maintain security and stability at the level of regional and international relations, within the framework of strengthening Bilateral and multilateral relations and ensuring mutual interests between Iraq and neighboring countries through openness to industrial and agricultural economic investments, tourism and services, and finding solutions to the problems and challenges of water, environment and regional trade within the framework of the principles and objectives of (Baghdad Conference 1) and (Baghdad Conference 2), and agreements and treaties concluded between Iraq. And neighboring countries, and between Iraq and the United States of America, in addition to agreements with China and European Union countries, especially France, Britain, Germany and Italy, in a way that enhances solidarity, cooperation and partnership.
He pointed out, “In addition to the above, there is a strategy of integration in economic relations and security cooperation to protect and ensure the country’s sovereignty and economic stability.” Financial and investment in wealth estimated at 20 trillion to achieve the well-being and prosperity of the Iraqi people, which requires establishing stability and security and amending laws to attract and encourage regional and international investments, similar to the agreements concluded with Jordan, Egypt, Turkey, Saudi Arabia, the Emirates, and Qatar, and the quadripartite agreement with Turkey to invest in (the path of development). “The strategy to create a space of partnership extending from Turkey towards Saudi Arabia and the Gulf countries and commercial openness to Asia and European countries.”
Hussein explained, “As the interests and economic partnership expand between Iraq and its neighbourhood, the opportunities for sustainable development develop and expand, which provides realistic opportunities to confront poverty and unemployment, enhance security and stability, and find serious solutions to various crises and conflicts in the countries of the Middle East and the Arabian Gulf, by creating a space for economic partnership and integration through investments.” .
For his part, the political researcher, Dr. Saif Al-Saadi, stated in an interview with “Al-Sabah” that “the government curriculum voted on in the House of Representatives based on Article 76/Fourth of the Constitution included several priorities, including foreign relations on page 18 of the curriculum, which talked about Strengthening relations with countries based on the principle of mutual respect and common interests, especially neighboring countries, the Gulf Cooperation Council countries and other sisterly Arab countries.”
He added, "This is in addition to adopting the principle of not allowing Iraq to be a corridor or a base for aggression against other countries in accordance with what is stipulated in the Iraqi Constitution, and requesting reciprocity from other countries and not interfering in the internal affairs of Iraq, as well as what concerns human rights and entry visas and working to ensure that The Iraqi passport will be of advanced status.”
He pointed out, "All of the above priorities need to be implemented, and this is binding on the government of Mr. Sudanese and the Minister of Foreign Affairs, since the platform was voted on within the House of Representatives, and implementing these priorities would strengthen Iraq's sovereignty and protect its interests in accordance with the Iraqi constitution and international conventions."
Plasschaert's duties in Iraq end
Today, Tuesday, May 7, 2024, the President of the Supreme Judicial Council, Judge Dr. Faiq Zeidan, received the Representative of the Secretary-General and Head of the United Nations Mission in Iraq, Ms. Jeanine Plasschaert, on the occasion of the end of her work duties in Iraq.
Due to the end of her work duties in Iraq, the President of the Supreme Judicial Council receives Plasschaert
The President of the Supreme Judicial Council receives the representative of the United Nations, Ms. Jeanine Plasschaert Baghdad / Judicial Media The President of the Supreme Judicial Council, Judge Dr. Faiq Zaidan, received today, Tuesday, 5/7/2024, the representative of the Secretary-General and Head of the United Nations Mission in Iraq, Ms. Jeanine Plasschaert, on the occasion of the end of her work duties. in Iraq.
Bafel Jalal Talabani meets with US officials in Washington
The Kurdistan National Union (KNU) leader arrived in Washington yesterday and is scheduled to hold a number of meetings with senior US officials today.
Bafel Jalal Talabani, the leader of the Kurdistan National Union (KNU), is on a visit to Washington and is scheduled to hold a number of meetings with senior US officials on the political, security and economic situation in the Kurdistan Region and Iraq.
According to Channel 8, the PUK leader will hold a series of meetings with senior US government officials, including the State Department, the US Congress and research centers.
Photos: Pavel Talabani in Washington and explains the agenda
On Tuesday evening, the media office of the head of the Patriotic Union of Kurdistan Party, Bafel Talabani, reviewed the schedule of the party leader’s visit to Washington, where he met with the US State Department’s coordinator for combating terrorism and the US Deputy Assistant Secretary of State for Energy Resources.
Statement from Bafel Talabani’s office:
Bafel Jalal Talabani, head of the Patriotic Union of Kurdistan, met in Washington with Ms. Elizabeth Regard, the US State Department's counter-terrorism coordinator.
During the meeting, which was attended by Darbaz Kosrat Rasoul, head of the National Union’s Relations Office, the security situation in the region, the fight against terrorism, and the continuation of military and intelligence coordination were discussed.
President Bafel Jalal Talabani praised the role of the international coalition forces, especially the United States forces, in supporting and developing the military and intelligence capabilities of the Kurdistan Region, and said: “Continuing aid and expanding coordination is an important factor in confronting the remnants and remnants of terrorism and establishing stability in the region.”
During the meeting, President Talabani presented a detailed report on the latest security developments in the region and ways to protect the lives of citizens, where he said: “The dangers of terrorism still remain, and neglecting their movements exposes the stability of the region to danger and poses a serious threat to the lives of citizens, so maintaining coordination between the forces of the Kurdistan Region Iraq and the United States, within the framework of protecting higher interests, are considered an important and influential step to eliminate terrorists and maintain security in the region.
In another meeting with Kimberly Harrington, US Deputy Assistant Secretary of State for Energy Resources, Talabani said that the Patriotic Union of Kurdistan deals with energy responsibly and that they are in dialogue with Baghdad to develop a new vision and direct towards reconstruction and stability.
Statement from Bafel Talabani’s office:
As part of his meetings in Washington, Bafel Jalal Talabani, President of the Patriotic Union of Kurdistan, met with Kimberly Harrington, US Deputy Assistant Secretary of State for Energy Resources.
During the meeting, which was attended by Darbaz Kosrat Rasoul, head of the Relations Office, emphasis was placed on developing relations to serve common interests and develop infrastructure and energy.
President Bafel Jalal Talabani referred to the efforts of the National Union to reformulate an advanced national policy for the energy sector so that it leads to prosperity and reconstruction and not be a reason for creating disputes.
He said: We will deal with this issue responsibly, and our goal is for this national wealth to serve the citizens and develop the country. For that, we will engage in dialogue with our friends in Baghdad and we will try to work together with a new vision and direct the country towards reconstruction and stability.
Baghdad is waiting for "good news"... What did Nechirvan Barzani's fifth visit to Iran bring?
The President of the Kurdistan Region, Nechirvan Barzani, closed the discussions on the Iranian station that complements the Baghdad-Tehran-Ankara triangle full of obstacles, after completing discussions with the pillars of the Iranian state at its highest levels.
The fifth visit of Nechirvan Barzani in 11 years was of high importance, especially as it comes to strengthen economic and trade relations and stability in the region, while the Iraqi government confirms that it views this visit positively as it aims to overcome obstacles and resolve the outstanding problems between the two sides, and awaits the “good news” that will be received. In its final statement.
Starting from Saadabad
With his usual smiling heroine and charisma, Nechirvan Barzani started from Saadabad Palace to meet with Iranian President Ebrahim Raisi, followed by a meeting with Iranian Leader Ali Khamenei, to whom Tehran’s crucial and major decisions are counted, after which he continued discussions with the pillars of government, security, and legislative authority.
Kurdistan Region Presidency spokesman, Dilshad Shihab, told Shafaq News Agency: "The President of the Region focused during this visit on developing bilateral relations between Iraq and the Kurdistan Region with the Islamic Republic of Iran, and as you know, we have historical relations with Iran from the time of the Iraqi opposition and the struggle of the Kurdish forces against dictatorship."
Shehab stressed, "It is important for the Kurdistan Region to emphasize to the Iranian side that it is a factor of stability, as it has always been with all neighboring countries."
He pointed out that "developing relations, corresponding respect, economic and trade relations, and stability in the region will be important topics during the visit."
Baghdad-Tehran-Ankara triangle
Barzani's visit to Tehran comes after an extensive round of discussions with political leaders in Baghdad, in which the region's president said he was launching a new phase of the relationship.
It also comes after the Turkish President came to Baghdad and Erbil last month, in a visit considered historic.
It is noteworthy that Barzani’s visit to Baghdad, which lasted for two days (Saturday and Sunday, April 27 and 28, 2024), during which he met with senior state officials, party heads, and prominent political figures, carried several files related to the Kurdistan Region, Iraq, and the region, at a time when prominent Iraqi leaders praised the The importance of the visit and that it brings a solution to the outstanding problems between Baghdad and Erbil.
Barzani's visit to Baghdad was his second during the month of April, after the first that took place on the fifth of the same month.
In Baghdad, the President of the Kurdistan Region discussed the files of salaries and the budget of the Kurdistan Region, in addition to the resumption of oil exports from the Kurdistan Region, which has been suspended since March 2023, and the file of the Kurdistan Regional Parliament elections, which are scheduled to be held on the tenth of next June, and the file of the election of the Speaker of the Iraqi Parliament, and also the file of The attacks on the Kurdistan Region, the most recent of which was the bombing of the Kormor gas field in Sulaymaniyah Governorate, on April 27.
As for the Turkish President’s visit to Baghdad and Erbil on April 22, 2024, it was the first in 13 years, as he sponsored, along with Iraqi Prime Minister Muhammad Shia’ al-Sudani, the signing ceremony of a quadripartite memorandum of understanding between Iraq, Turkey, Qatar, and the UAE.
In the region, upon his arrival, Erdogan met with senior Kurdish officials at the regional presidency headquarters, and also held a special meeting with the Kurdish leader, Masoud Barzani. In bidding Erdogan farewell and receiving him at Erbil airport, the President of the Kurdistan Region, Nechirvan Barzani, was present.
Iranian welcome
Regarding the importance of Nechirvan Barzani’s visit to Tehran, Iranian political analyst, Mossadegh Pour, says, “This visit is of great importance and great welcome within Iranian circles in light of the close relations that exist between Iran and the Kurdistan Region. Barzani is also a friend of Iran and has good positions towards it, and he does not Far from Iranian society.
Bor confirms during his talk to Shafaq News Agency, “Among the most important files discussed during the visit is the economic file, as there are good Iranian trade and economic relations with the region, and despite the presence of security tensions against the backdrop of the presence of anti-Iranian groups in areas of the region, but thanks to the efforts of the region and the government.” "The federal region is currently experiencing a period of calm."
He added, "The security file is always present in light of the security challenges facing the region and Iran, as security is intertwined and overlapping between them. Therefore, Iran is communicating with the Kurdistan Region in order to settle this file in a way that guarantees security and stability for both sides."
He continues, "There are also issues related to the cultural aspect, as Iranian and Kurdish culture are close to each other. They stem from one root. Therefore, strengthening cultural cooperation between the two sides is on the negotiating table, and it may turn into university and scientific cooperation."
For his part, Saleh Zulqadr, an Iranian political analyst, says: “The visit of the president of the region is important at any time, and it leads us to the indication that changes are taking place in the region that need consultations between Tehran and Erbil.”
Iranian media attention
The visit of the President of the Kurdistan Region, Nechirvan Barzani, to Tehran was reflected in the Iranian media, which took space in its reports and coverage.
A report by Mehr Agency referred to the role of the president of the region, and provided a historical account of his family and its struggle, including his living in Iran and his mastery of the Persian language, and an emphasis on dialogue and understanding to resolve problems.
The report said, “It is expected that with Nechirvan Barzani’s visit to Tehran, the level of political interaction between the two sides will increase.” The report also pointed out the possibility of developing economic relations with the visit, which the agency said would benefit the two peoples.
For its part, Haft Sobh newspaper said in a report that Nechirvan Barzani's visit comes after about three years of ups and downs in the relationship, but it indicated that the president of the region is a person who enjoys good relations with Tehran.
The report also indicated that Nechirvan Barzani will now take the initiative to establish reconciliation and expand relations with Iran.
A movement to ensure the security of Kurdistan
For his part, political analyst, Ahmed Al-Yasiri, says, “Nechirvan Barzani’s visit to Iran is based on three rules. The first is the security rule, which are the guarantees that the region wants to preserve related to targeting vital sites and energy or targeting the security depth directly from Iran, so it moves.” Barzani to ensure the security of Kurdistan.”
Al-Yasiri added to Shafaq News Agency, “The second rule is the economic one based on the idea of intersection of commercial projects in the region, especially after the visit of Turkish President Erdogan. Therefore, he wants to give guarantees to Iran that there is a consensus process between the region’s administration and the Baghdad government in this regard to reduce security pressures.”
Regarding the third rule, Al-Yasiri explains that it is “the file of the Kurdistan parties, and it is a security concern that the Kurdistan Region does not turn into a security pressure on Iran, especially after the direct confrontation that took place between Iran and Israel, and giving guarantees to the Iranian side in this direction and also giving guarantees that Turkish intervention is included.” The scope of the security partnership, and that the trade line (development project) is not a strategic goal directed against Iran.”
He concluded by saying, "Therefore, Nechirvan Barzani's visit comes to calm the Iranian side, which will have an impact on Iraqi projects in general and not just on the Kurdistan Region."
Baghdad supports the visit
In turn, the advisor to the Iraqi Prime Minister for Foreign Affairs, Zia Al-Nasseri, confirms that “the Iraqi government supports any efforts to overcome obstacles and solve problems with neighboring countries, especially with the Islamic Republic, and that the Iraqi government views Nechirvan Barzani’s visit positively as it came after Iran’s targeting of Erbil in January.” The second is 2024, under the pretext of the presence of saboteurs or suspicious headquarters belonging to the Mossad.”
Al-Nasiri continues his speech to Shafaq News Agency, saying, "The Iraqi government is looking forward to the results of the visit."
Summary of the visit
Upon completing his discussions with the leaders and staff of the Iranian state, the President of the Kurdistan Region, Nechirvan Barzani, expressed in a press conference held in Tehran that “this visit is the beginning of a new phase of relations between Iran and the Kurdistan Region,” expressing his thanks for the warm reception by the Iranian Leader, Ayatollah Ali Khamenei. And the President of the Republic, Ibrahim Raisi, and the Speaker of Parliament, Muhammad Baqir Qalibaf, and the rest of the officials.
He added, "For us in the Kurdistan Region, relations with the Islamic Republic of Iran are very important," describing those relations as "historic because there are many commonalities between the two sides since the founding of the Islamic Republic until now."
The president of the region said, “The Islamic Republic of Iran has always been supportive and supportive of us in difficult stages,” adding, “There is no doubt that there are some problems, but what is important is that we make efforts to solve them, and we have a serious will in this regard through the visit that We brought it to Iran to address the problems existing between us, and we want to establish the best relations with this important neighbor.”
He went on to say that the Kurdistan Region wants to remain a factor in establishing stability and security in the region, and this policy is well-established in the region, and we will continue with it.
He expressed his thanks to Iraqi Prime Minister Muhammad Shiaa Al-Sudani for his support for this visit.
Barzani also confirmed that he discussed with President Ibrahim Raisi his scheduled visit to Baghdad, adding: As president of the region, I extended an official invitation to him to visit Kurdistan as part of his visit to Iraq.
He added, "I think that he (the Iranian president) took this invitation seriously, and what remains is for them to discuss the circumstances of when this visit will take place," noting that Raisi "was positive in accepting this invitation."
Do Iraq's debts pose a threat to the economy? Parliament answers
The Parliamentary Finance Committee confirmed, today, Tuesday (May 7, 2024), that Iraq’s external and internal debts do not pose any threat to the internal economic and financial situation.
Committee member Moin Al-Kazemi told “Baghdad Today” that “Iraq’s foreign and internal debts do not pose any threat to the internal economic and financial situation, as these debts are paid according to what is planned and agreed upon in every budget, and Iraq is committed to that, and there is no delay in payment.” So that there will be consequences for this delay .”
Al-Kadhimi stated that “the internal debt is a debt to Iraqi government institutions, most of which is to the Central Bank of Iraq, and the external debt reached approximately (8) billion dollars in the current year, after it was approximately (21) billion dollars during the last three years, and this means that Iraq continues to pay its debts and its financial situation is good and stable .”
On the other hand, Iraq's internal debt, which is held exclusively by the government banking system, is estimated at about $55 billion if it is valued in foreign currency according to the new exchange rate, which means that no less than 63% of the internal public debt is in the possession of the Central Bank of Iraq, whether in the form of government bonds or transfers. Treasury, according to the government's economic advisor .
After a break that lasted for years...the third session of the Trade and Investment Framework Agreement between Iraq and America was held
The Iraqi Ministry of Commerce announced, today, Tuesday, that the meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America will be held in Washington, D.C., after a break that lasted for more than nine years.
The meetings were chaired by the Iraqi side, Economic Agent Ghassan Farhan Hamid, and the American side by the Commercial Representation Office.
A statement issued by Trade Today quoted Hamid as saying that the meeting discussed many topics, the most important of which were the agricultural sector, standardization and quality control, the financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector, and government contracts.
He pointed out that it was confirmed during the meetings that the Iraqi government is open to all parties, explaining that economic reform and diversification of the economy are considered among the priorities that are being worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries.
For its part, the American side expressed its great interest in the issues raised and its appreciation for the reform measures undertaken by the Iraqi government.
How did Washington comment on Nechirvan Barzani's visit to Tehran?
US State Department spokesman Matthew Miller said in response to the visit of Kurdistan Regional President Nechirvan Barzani to Tehran, "He has no comment on this matter and leaves an additional comment on the details of this visit to Erbil."
Matthew Miller added in press statements followed by "Baghdad Today" that the United States welcomes any dialogue that helps ease tensions.
Matthew Miller made accusations against Iran's role in the region, and answered questions about the visit of the President of the Kurdistan Region to Iran and Tehran's position on accepting a ceasefire from Hamas in the Gaza war.
In response to what he believes about Kurdistan Regional President Nechirvan Barzani's visit to Iran, he said: "We have constantly encouraged de-escalation, but we have no opinion about this trip in particular."
In a detailed press conference on the website of the US State Department, in response to whether Barzani’s visit would have an impact on Iraq’s stability and help it, Miller said: I do not want to comment on this conversation in particular, but of course we have always encouraged dialogues that lead to stopping the escalation and achieving more. stability in the region, including with regard to Iran.
On Monday, Barzani met with Iranian Supreme Leader Ali Khamenei, Iranian President Ebrahim Raisi, and Foreign Minister Hossein Amir Abdollahian during his two-day visit to Tehran on Sunday and Monday.
The President of the Kurdistan Region indicated on this trip that the Islamic Republic of Iran was with the Kurdistan Region and Iraq in all historical and important developments, considering the role of the Islamic Republic of Iran in the process of Iraqi developments to be historic, constructive and permanent.
Barzani added, "Since Iran's security, in our opinion, is the security of Iraq and the Kurdistan region, the territory of the region will never be a point of threat against the Islamic Republic of Iran."
Al-Sudani receives a delegation from the Union of Arab Banks
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.
The Prime Minister’s Media Office said in a statement, “Today, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.”
Iraqi Ministry of Planning: Erbil must hand over 50% of non-oil revenues to guarantee salaries
still waiting to see this
It is likely that the 2024 budget schedules will be approved today
The Iraqi government’s delay in approving the budget schedules has raised questions about the existence of a cash crisis in the country, which may soon be reflected in employees’ salaries.
The extent of fears was reinforced by the government's resort to citizens' pockets to fill the gap in the fiscal deficit after the recent decision to raise gasoline prices.
Yesterday, Monday, the Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed new details related to the budget lists and schedules for the year 2024, which are still under discussion in the Council of Ministers.
Saleh suggested, during a press statement, that the Council of Ministers, in today’s session on Tuesday, will discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
The Sudanese advisor explained, “The percentage of the deficit in the budget tables is unknown, and it will be determined according to the tables that will be approved by the Council of Ministers, before sending them to the House of Representatives.”
According to what was stated in Law No. 13 of 2023, the lists and tables of the tripartite general budget law should be submitted to the House of Representatives.
Al-Sudani: Iraqi banks are on the right path in financial transfer transactions
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, that Iraqi banks are proceeding in financial transfer transactions on the right path.
The media office of the Prime Minister said in a statement received by Al-Iqtisad News, “The Sudanese received today the delegation of the Union of Arab Banks, headed by the Secretary-General of the Union, Wissam Hassan Fattouh,” indicating that “the Prime Minister welcomed, at the beginning of the meeting, the holding of the Arab Banks Conference in Baghdad.” ".
The Prime Minister expressed "Iraq's happiness in hosting the Arab conferences, which confirm Iraq's return to taking its natural position in the region and the world," pointing out that "the process of financial and economic reform, which the government has adopted, cannot occur without a solid banking system that is in harmony with the world."
He stated, "The government has placed this matter within its work of development and reform since its first day, and that Iraqi banks are today on the right path in their transactions related to financial transfers, and that coordination of financial and monetary policy with the Central Bank continues, while maintaining the independence of the bank."
He pointed out that "the policy of clarity, which was adopted by the government, helped identify the deficiencies in the banking system and worked to fix them," noting that "the development road project is one of the aspects of economic integration in the region."
The Prime Minister welcomed "holding a banking workshop to discuss the role of banks in the project and in establishing industrial cities along the road."
For its part, the delegation of the Union of Banks praised “the government’s measures to reform the banking sector, as they are clear measures aimed at strengthening and enhancing the work of this sector,” expressing “its appreciation for the government’s steps in supporting the private sector and enhancing its role in sustainable development and international and regional partnerships.”
A quarter of Kurdistan's employees settled in "My Account"... and Sulaymaniyah threatens to resume the strike - urgent
Dana Saleh, a member of the Sulaymaniyah Protests Committee, confirmed today, Tuesday (May 7, 2024), that demonstrations in the city will return again, and that the position of the governorate’s employees is firm in rejecting an accounting project.
Saleh said in an interview with “Baghdad Today” that “the Kurdistan Regional Government is responsible for the delay in disbursing the salaries of employees in the region due to its failure to settle salaries in federal banks.”
He added, "The position of the protesters in Sulaymaniyah and Halabja is consistent and does not change, which is to reject an accounting project for the localization of salaries, and we only accept the localization of our salaries exclusively in federal banks."
He pointed out that "the demonstrations will return again, and we will begin a permanent strike in departments and institutions, because the regional government and the parties of the ruling authority want to stand against the decisions of the Iraqi judiciary."
Recently, the Bank of Baghdad joined an accounting project in the Kurdistan region after the project contained 5 banks, including the Trade Bank of Iraq (TBI), while attention is directed towards the Al-Rashid and Al-Rafidain banks.
The number of Kurdistan national employees in the accounting project is more than 300 thousand employees, while there are more than one and a quarter million employees in the region, according to the Kurdistan government.
Sudanese Advisor: Iraq is a strategic location in the region and the world
Advisor to the Prime Minister for Religious Affairs, Munir Al-Tarihi, confirmed today, Tuesday, that Iraq represents an important region and a strategic bridge in the region and the world.
Al-Tarihi said in an interview with the Maalouma Agency, “Inciting sectarianism and racism does not serve the country,” pointing out that “these moves are part of the West’s attempts to target Iraqi society.”
He added, "Iraq is considered an important region and a strategic bridge connecting the world, so these attempts exist," noting that "the enemies' plans to sow despair among the Iraqi people have failed, and the credit for this goes to the ability and steadfastness of the Iraqis."
He continued, "The Iraqi people have proven to all countries of the world the extent of their ability not to be led by rumors and strife."
the video is in Arabic
Advisor to Al-Sudani: Sanctions on 32 private banks caused financial problems inside Iraq (video)
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, said today, Tuesday (May 7, 2024), that the government encourages electronic payment through the integration of society with banks, and this matter requires a bank account to create digital financial inclusion.
Saleh revealed via “Baghdad Today” that “private banks were exposed to major shocks due to their deprivation of the dollar and the imposition of sanctions on 32 private banks, and this is a major issue for Iraq,” indicating that “the time has come to solve all these financial problems and turn to foreign currency for the purposes of foreign transactions.”
Yesterday, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that one bank obtained $3.6 billion from the currency auction during the first three months of the current year.
Nassif said in a tweet followed by “Baghdad Today” that, “In the first three months of the current year 2024, the National Bank obtained $3.6 billion from currency auction sales, achieving profits amounting to about 39.3 billion Iraqi dinars.”
She asked: “Isn’t the Trade Bank of Iraq (TBI) more worthy of transferring money to be invested in hospitals or schools for the Iraqi people? Aren’t our people more worthy of this money?! Knowing that there are people within the Central Bank who stand behind this issue because they benefit from it.”
Representatives of the Iraqi-Jordanian National Bank have previously accused of seizing a large percentage of hard currency sales for the purpose of remittances or cash sales, and achieving profits of 10 dinars for every one dollar, while many banks are banned and prevented from obtaining work in dollars.
The bank's sales during the three-month period amounted to more than 15 billion dollars, which means that the National Bank alone obtained nearly a quarter of the Central Bank's sales of hard currency.
Why does Iraq depend on foreign banks for dollar transfers? - urgent
Today, Tuesday (May 7, 2024), expert in financial and economic affairs, Nabil Jabbar Al-Tamimi, revealed the reason for Iraq’s reliance on foreign banks for financial transfers, especially with regard to the dollar.
Al-Tamimi told “Baghdad Today” that “Iraq has more than (70) banks, approximately five of which are government and the remaining number are private banks, but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of... Iraqi private banks in arranging their legal and technical conditions regarding the issue of financial correspondence.
He stated, “After implementing the electronic platform, many banks stopped making remittances, as they did not want to comply, but foreign banks were not afraid of this matter because they had experience and all of their work was sound and in accordance with the required conditions, and that is why they became dependent on those banks, and this confirms the existence of a major defect.” In the work of Iraqi banks.
He added, "Private banks were feeding on corruption in the case of the currency auction, and that is why they are considered semi-banks and not real banks, and they have different banking activities like other banks, and for this reason Iraq has become primarily and almost completely dependent on the various foreign banks in the issue of foreign transfers. These banks have correspondence." With international banks, this is something that Iraqi private banks lack.”
Earlier, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that the Iraqi Jordanian National Bank obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars.
Financial Literacy for a Sustainable Future in Iraq
The International Labour Organization (ILO) and the Central Bank of Iraq (CBI), with the support of the Italian Agency for Development Cooperation (AICS), are partnering to empower individuals and businesses in southern Iraq with financial literacy skills.
A week-long initiative kicked off in Al-Muthanna governorate this week aligns with the CBI's broader Financial Inclusion Week activities for 2024, themed "Towards Encouraging Savings to Enhance Financial Inclusion."
The initiative builds upon the ongoing collaboration between the ILO, AICS and the government of Iraq to promote decent work, green jobs and a sustainable future in the south, under the ILO project "Towards More and Better Employment through Enhanced Support to Private Sectors in Southern Iraq - with a Focus on Green Business."
"Financial inclusion is essential for building a more sustainable and inclusive future for all," said Maha Kattaa ILO country coordinator in Iraq. "Through this collaboration with AICS and the CBI, we are empowering people in southern Iraq, particularly youth and women, with the financial literacy skills they need to save, invest, and grow green businesses, which contributes to enhancing economic development and creating decent job opportunities for all," Kattaa added.
AICS, Italy's development cooperation agency, attaches great importance to financial inclusion for building a sustainable and inclusive future. Its support allows the programme to equip individuals and businesses with the knowledge and tools needed to fully participate in the financial system. This financial literacy empowers them to save, invest, and foster innovation, particularly for green businesses critical for a sustainable future in southern Iraq.
The Central Bank of Iraq works to empower individuals and businesses to access banking services through a variety of channels, including digital applications and online services, to facilitate daily financial transactions smoothly and efficiently. The bank also encourages the use of electronic payment tools, such as bank cards and electronic wallets, to achieve rapid and effective financial integration.
Hussein Abdul Amir Jabbar, Director of the Financial Inclusion Department at the Central Bank of Iraq, said:
"The bank is committed to expanding financial inclusion across Iraq, aiming to reach different segments of society. He emphasized that the Central Bank of Iraq focuses during the Arab Financial Inclusion Week activities on raising awareness about financial banking services and educating individuals on how to manage their money effectively, including access to banking services and how to use them."
"This awareness of the optimal use of banking services contributes to achieving individual financial empowerment and enhancing economic growth at the level of the Iraqi economy as a whole. The ILO initiative in the southern provinces aligns with the Central Bank of Iraq's goals of strengthening financial culture and empowering individuals and businesses to manage their financial affairs efficiently and effectively. This year's slogan reaffirms the bank's commitment to building a sustainable and strong financial system in Iraq, enabling everyone to participate in economic activity and benefit from it."
The Financial Inclusion Week in the south of Iraq featured a variety of activities, including:
- Training of Trainers: Local experts will be equipped to deliver financial literacy workshops with a focus on green business practices using the ILO's Financial Education Tool.
- Awareness Sessions: University students, graduates, small and medium-sized enterprise (SME) owners, youth involved with the Ministry of Youth, and Ministry of Labour and Social Affairs, and men and women interested in starting or owning businesses will benefit from sessions highlighting the importance of financial inclusion, savings, responsible financial management, and sustainable business practices.
- Online Session: Young Iraqi representatives who participated in the COP28 conference will gain valuable insights on integrating financial literacy with green business practices through a dedicated online session, who can also reach out their peers with this information on FI and green business.
- Project Activities Information: Participants can access information about project activities, which encompass training on ILO tools such as SIYB (Start and Improve Your Business), green business practices, financial education, and assistance with accessing finance. During the Financial Inclusion Week, attendees can learn more about these activities and register their interest.
More than 500 young men and women took part in the events of Financial Inclusion Week in southern Iraq. The activities spanned eight sessions across the Basra and Muthanna governorates in collaboration with the University of Basra, the University of Muthanna, the Southern Technical University, the Chambers of Industry in Basra and Muthanna, the Directorate of Youth and Sports in Basra and Muthanna, the Vocational Training Center in Basra, and Siraj Al-Maarifa Company., where these activities contributed to:
- Increased awareness of the benefits of financial inclusion and green business practices.
- Improved financial literacy and knowledge among target groups, particularly regarding sustainable finance.
- Increased savings and investment in southern Iraq, with a focus on green businesses.
- Growth of small businesses and green entrepreneurship in the region.
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Sudanese Advisor: Iraq is a strategic location in the region and the world
Advisor to the Prime Minister for Religious Affairs, Munir Al-Tarihi, confirmed today, Tuesday, that Iraq represents an important region and a strategic bridge in the region and the world.
Al-Tarihi said in an interview with the Maalouma Agency, “Inciting sectarianism and racism does not serve the country,” pointing out that “these moves are part of the West’s attempts to target Iraqi society.”
He added, "Iraq is considered an important region and a strategic bridge connecting the world, so these attempts exist," noting that "the enemies' plans to sow despair among the Iraqi people have failed, and the credit for this goes to the ability and steadfastness of the Iraqis."
He continued, "The Iraqi people have proven to all countries of the world the extent of their ability not to be led by rumors and strife."
Advisor to Al-Sudani: Sanctions on 32 private banks caused financial problems inside Iraq (video)
linl the video is in Arabic
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, said today, Tuesday (May 7, 2024), that the government encourages electronic payment through the integration of society with banks, and this matter requires a bank account to create digital financial inclusion.
Saleh revealed via “Baghdad Today” that “private banks were exposed to major shocks due to their deprivation of the dollar and the imposition of sanctions on 32 private banks, and this is a major issue for Iraq,” indicating that “the time has come to solve all these financial problems and turn to foreign currency for the purposes of foreign transactions.”
Yesterday, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that one bank obtained $3.6 billion from the currency auction during the first three months of the current year.
Nassif said in a tweet followed by “Baghdad Today” that, “In the first three months of the current year 2024, the National Bank obtained $3.6 billion from currency auction sales, achieving profits amounting to about 39.3 billion Iraqi dinars.”
She asked: “Isn’t the Trade Bank of Iraq (TBI) more worthy of transferring money to be invested in hospitals or schools for the Iraqi people? Aren’t our people more worthy of this money?! Knowing that there are people within the Central Bank who stand behind this issue because they benefit from it.”
Representatives of the Iraqi-Jordanian National Bank have previously accused of seizing a large percentage of hard currency sales for the purpose of remittances or cash sales, and achieving profits of 10 dinars for every one dollar, while many banks are banned and prevented from obtaining work in dollars.
The bank's sales during the three-month period amounted to more than 15 billion dollars, which means that the National Bank alone obtained nearly a quarter of the Central Bank's sales of hard currency.
After Washington's reassurances, Iraq is close to bypassing dollar sanctions
The official positions stated that it is close to overcoming the repercussions of the US sanctions on a number of banks, and Prime Minister Muhammad Shiaa Al-Sudani said that financial transactions in the US dollar are “moving in the right direction.”
Al-Sudani's statements came about a week after his visit to Washington, which included meetings with officials in the US Treasury, which had previously punished Iraqi banks and caused an imbalance in the exchange rate against the local dinar.
Today, Tuesday, Al-Sudani received a delegation from the Union of Arab Banks in Baghdad, and said, “The financial and economic reform process adopted by the government cannot occur without a solid banking system that is in harmony with the world.”
The Prime Minister explained, according to a press statement, that Iraqi banks are on the right path in their transactions related to financial transfers, and that coordination of financial and monetary policy with the Central Bank continues, while maintaining the bank’s independence.
Financial reform
. Al-Sudani renewed his talk about “the measures taken by the government during the past period that helped identify the defects in the banking system and worked to fix them.”
On the other hand, the delegation of the Union of Arab Banks praised “the government’s measures to reform the banking sector; These are clear measures aimed at strengthening and enhancing the work of this sector.”
The Arab delegation expressed its appreciation for the government’s steps in supporting the private sector and enhancing its role in sustainable development and international and regional partnerships.
Ali Tariq, Executive Director of the Iraqi Private Banks Association, who attended the meeting with the Prime Minister, told Asharq Al-Awsat that he “discussed the development of Iraqi Arab and foreign banking relations, which will reflect positively on local banking services.”
“Forced, not a choice.”
For his part, the professor of finance at the College of Administration at Al-Mustansiriya University, Sadiq Al-Bahadli, said that Iraq is “forced and has no choice” regarding taking the correct procedure related to foreign financial transactions.
Al-Bahadli said, “The US Federal Bank controls almost all of Iraq’s funds derived from oil revenues, and they are sold in US dollars, and the Federal Reserve does not allow the dollar to go out to other countries without verifying the destinations to which these funds reach.”
Al-Bahadli believed that “reforms in the field of foreign transfers must be accompanied by a solid banking system, and this has not happened so far, unfortunately.” He said: “Our banking system is still significantly backward, so the new foreign transfer system has had a negative impact on the work of most local merchants and importers.” ».
“The financial and banking issue is quite complex in Iraq,” said Al-Bahadli, who cited US President Joe Biden’s recent decision to continue implementing the decision to protect Iraq’s funds that was taken by former President George Bush 21 years ago.
Biden said, during his signing of the decree in which he extended the state of national emergency related to the situation in Iraq for another year: “There are still obstacles to the orderly reconstruction of Iraq, restoring and maintaining peace and security in the country, and developing political, administrative and economic institutions in Iraq.”
The US Treasury Department has previously placed several Iraqi banks on the blacklist and banned them from dealing in the US dollar under the pretext of those banks engaging in currency smuggling and money laundering operations.
Political Discussion
A political source linked to political discussions regarding US sanctions commented, “The political forces that have financial interests linked to banks have recently reached the conviction that they must adapt to the reality of Washington’s financial influence in Iraq, so they helped mitigate the effects of suspicious transactions, including money laundering and imports.” "The phantom."
In contrast to the Prime Minister’s talk about Iraqi banks being on the right path with regard to remittances and financial transactions, the Services Committee in the Federal Parliament expressed its surprise at what it described as “duplication of decisions” issued by the Central Bank regarding the process of foreign transfers.
The committee said in a press statement, “This policy, in all its aspects, refers to wasting public money and creating glut for a small number of beneficiaries, which in general did not achieve anything for Iraq and its people, which made Iraq lose billions of dollars annually due to differences in transferring hard currency abroad, which provided a service on a plate.” Whoever goes to the corruption mafias without any benefit for the public interest.”
The committee stated that “one of the ridiculous and crying ironies,” as it described it, is “foreign banks achieving profits amounting to billions of dinars from hard currency transfers from Iraq abroad without providing any service or benefit for the public interest.”
An expert comments on the use of the Iraqi currency in commercial transactions with Iran
Today, Tuesday (May 7, 2024), expert in financial and economic affairs, Alaa Glob Al-Fahd, commented on the possibility of Iraq losing money through its use of the national currency in commercial transactions with Iran .
Al-Fahd told Baghdad Al-Youm, “The idea of commercial dealings being in the local currency between Iraq and Iran is not new today. Rather, it is a decision by the Central Bank of Iraq as well as the Iraqi government to negotiate this issue with more than one country, not just Iran, including Iran.” The UAE".
He explained that “exchange is in the UAE dirham, with China in the yuan, with Iran in the toman, and even with Turkey there is negotiation that trade exchange be in the lira . ”
He continued, "This matter creates confidence in the local currency, when it has value at the global level and this follows the strength of the Iraqi dinar, and this issue does not constitute any loss for Iraq and Iran . "
He added, "This currency will be transformed into goods or exchanged and bartered, if there is a joint trade exchange between the two countries. We believe that this issue has many more positives than negatives, and this gives strength to the local currency and gives it confidence even at the level of the citizen and merchant as well as the foreign merchant and not Local only."
Yesterday, Monday, Iranian Vice President Mohammad Mokhber called on Iraq to use “national currencies” in trade and economic exchanges between the two countries .
The office of the Iranian Vice President said in a statement followed by "Baghdad Today", "The necessity of expanding economic relations and improving the level of trade cooperation between the Islamic Republic of Iran and Iraq was emphasized . "
He added, "The relations between Tehran and Baghdad are close, strong and sincere, and the union of the two countries is a source of loss and fear for enemies and a point of hope and prosperity. They are two countries and their people will taste the sweet taste of this union in expanding economic relations between them."
US-Iran sanctions swap deemed symbolic, ineffective by some analysts
In a tit-for-tat move, Iran sanctioned five U.S. companies and seven individuals last week, accusing them of fueling terrorism in the Middle East.
This largely symbolic announcement served as retaliation against last month’s new batch of U.S. sanctions targeting Iranian cybersecurity and drone industries.
The U.S. levels similar accusations against Iran, claiming Tehran supports terrorist groups in the region.
Both nations hold significant sway in the Middle East and align with opposing factions in the Israel-Hamas war.
“Sanctions from Iran carry little to no weight,” Pedro Labayen Herrera, a research assistant at the Center for Economic and Policy Research, told VOA.
He said as the world's largest economy, the United States, holds far more sway over the global financial system.
“The U.S. dollar, an international reserve currency central to global trade and investment, is what gives its sanctions so much power,” said Herrera. “In contrast, the Iranian rial has little value outside Iran, so sanctions issued by Iran have a negligible effect.”
While sanctions have harmed Iran's economy, experts debate their effectiveness in achieving U.S. strategic objectives.
“Sanctions have certainly impacted Iran's economy adversely driving inflation up and adding pressure on the government through maximum economic pressure, which is in line with U.S. objectives,” Merissa Khurma, director of the Middle East program at the Wilson Center, told VOA.
But some analysts like Ali Vaez, director of Iran Project at the International Crisis Group, argue that sanctions imposed on Iran have largely failed to achieve their goals of stopping its nuclear program, ending its alleged support for terrorism, and improving human rights.
“Iran is more aggressive in the region, more repressive at home, and closer to the verge of nuclear weapons than ever before,” Vaez told VOA.
Regime change?
Since the Islamic Republic's establishment in 1979, the U.S. has imposed a multitude of sanctions under successive administrations.
“Before Russia's war of aggression against Ukraine, Iran was the most sanctioned country by the U.S.,” said Mahdi Ghodsi, a lecturer at the Vienna Institute for International Economic Studies.
The sanctions target Iran’s Supreme Leader Ali Khamenei and anyone appointed by him “potentially sanctioning Iran's public and semi-public sectors, which account for 70-80% of Iran's GDP,” Ghodsi told VOA.
U.S. officials under the Biden administration have said Tehran must come into compliance on any number of issues outlined in the sanctions regime before it would consider dialing sanctions back.
Experts, however, say it is unlikely the U.S. will lift sanctions on Iran in the near future.
“Sanctions have turned into a one-way ratchet that could only be lifted if the targeted regime is no longer in place,” said Vaez.
He saif attempts to achieve regime change through sanctions have historically proven ineffective elsewhere in the world.
China benefits
Despite mixed results from sanctions, some U.S. officials maintain that tightening them further would yield the desired outcomes.
U.S. Treasury Secretary Janet Yellen said last month Washington is trying to further diminish Iran’s oil exports.
“There may be more that we could do,” Yellen told reporters last month.
However, the sanctions have consequences beyond Iran.
U.S. sanctions targeting Iran’s oil exports affect global energy markets.
Unwittingly, the sanctions appear to benefit U.S. archrival China, which buys Iranian oil at a highly discounted price.
Iran's oil revenue remains crucial for its economy.
After a slump in exports caused by tightened U.S. sanctions under the Trump administration, Iran has seen a significant rise in oil exports, surpassing $26 billion in the first three quarters of 2023, according to Iranian officials.
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IRI strikes "Vital" target in Eilat, Israel confirms
On Tuesday, the Islamic Resistance in Iraq (IRI) announced that it attacked an "Israeli vital target" in Eilat. At the same time, Israeli media confirmed intercepting a suspicious target in the city's airspace.
IRI stated that its "operatives targeted a vital objective in Eilat (Umm al-Rashrash), in our occupied territories using drones."
On the other hand, Israeli security officials confirmed intercepting a suspicious target in Eilat using the Iron Dome defense system.
According to officials, no alarm sirens were sounded.
Since the start of the Israeli war in Gaza, IRI has regularly attacked the US interests in Iraq and Syria and, recently, the Israeli sites in Palestine.
IRI term commonly refers to Tehran's military allies in Iraq, including powerful groups such as Kataeb Hezbollah and Harakat Al-Nujabaa.
It is a prominent part of the "Axis of Resistance," including Lebanon's Hezbollah, the Yemeni Ansarallah (Houthis), and other Iran-backed factions.
IRI stated that its operations are to "expel the American occupation" and in support of "Palestinian brothers."
The deadliest attack was in Jordan when Kataeb Hezbollah killed three American soldiers at a US base.
In a series of retaliation, the US military launched airstrikes on sites related to Iranian-backed forces in Iraq and Syria, killing members of Popular Mobilization Forces (PMF) in Iraq and commanders of the Iranian Revolutionary Guards (IRGC) and Lebanon's Hezbollah in Syria.
All groups within the Axis have declared that their attacks will persist until a ceasefire is achieved in the Gaza Strip, where Israel's actions have resulted in the deaths of about 34,000 Palestinians, predominantly children and women, and injured about 76,000.
The war has also displaced approximately 1.5 million people, leading to the destruction of infrastructure, hospitals, schools, and even UN facilities.
The United Nations reports that the Gaza Strip is currently experiencing famine conditions, exacerbated by Tel Aviv's rejection of humanitarian aid through Rafah.
The Iraqi government issues new decisions
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani chaired the nineteenth regular session of the Council of Ministers, during which the general situation in the country was discussed, important files in various fields were discussed, the topics on the agenda were discussed, and decisions and recommendations were taken regarding them.
In the field of regulating the investment of oil wealth, and the work of companies investing in this sector, the Council of Ministers approved the recommendations of the Diwani Order Committee (3 of 2024) regarding the Kirkuk Investment Refinery and the recommendation of the Legal Department in the General Secretariat of the Council of Ministers according to the following:
1. It is necessary for the investor to adhere to the provisions of the Investment Law for Refineries No. (64) of 2007 and its amendments, and to stipulate this in the contract that will be concluded between the investor and the Ministry of Oil.
2. Obligating the investor, contractually, that the percentage of production of light (white) petroleum derivatives be no less than (80%) of the oil supplied to the aforementioned refinery.
3. Obliging the investor to ensure that the refinery’s activities and products are in accordance with international standards (EURO5).
4. The Ministry of Oil negotiates with the investor to purchase the above-mentioned white petroleum derivatives, in accordance with what is stated in the law, and in a way that achieves economic returns for the Ministry, and with the prices and standards approved by the Oil Marketing Company (SOMO) and the Petroleum Products Distribution Company, with confirmation that the model presented (BOO) does not require considering the investment cost as a primary factor; The project will remain owned by the investor and comparison will be made with international or prevailing prices, unless the nature of the investment is changed from (BOO) to (BOT), in which case the recovery periods will be taken into account and calculated with the life of the investment.
5. The Ministry of Oil will follow up on the implementation of the project in accordance with the law and the provisions of the aforementioned signed contract.
6. The Ministry of Oil helps the investor to obtain the necessary support and encouragement from the Ministry, the Investment Authority and other relevant ministries; In order to accelerate the establishment of the project; Because of its importance in supplying the northern governorates and the Kurdistan region with oil derivatives and developing Kirkuk Governorate economically.
7. The Ministry of Oil studies the possibility of the project’s capacity being (150) thousand barrels, according to the designs available to it, and after calculating the budget for the oil available in Kirkuk.
On the energy side as well, the recommendation of the Ministerial Council for Social Services (24006 H) was approved, which shows the implementation of the Ministry of Oil/SOMO Company, what was stated in the Council of Ministers’ Resolution (23559 of 2023), to contract directly with (the Iraqi Oil Tanker Company affiliated with the Ministry of Oil, And the General Company for Maritime Transport, affiliated to the Ministry of Transport) for transporting and storing exported petroleum products, in the amount of (70%) to the Iraqi Oil Tanker Company, and (30%) to the General Company for Maritime Transport, regarding all stages of work (transport and storage) of petroleum products, by various means.
Regarding the delayed projects, finalizing their files and preparing the requirements for their completion, the Council of Ministers approved the following:
1- Increasing the amount of reserve in the Kardiya Bridge contract in Wasit Governorate.
2- Increasing the cost of the project (construction of the second Kut Bridge and its approaches, the Kardiya Bridge and the 30 km annual road).
3- Increasing the amount of reserve and the total cost of the project (developing Bab al-Khan and Bab Baghdad with a length of 7 km), within the project (paving and developing streets in the center of Karbala/m3, constructing the southern link road/m2, and covering the ball pit and its branches in the governorate center/first stage).
4- Increasing the total cost of the project to equip a transformer with a capacity of (31.5) MVA in the center of Souq Al-Shuyoukh district / Dhi Qar Governorate.
5- Increasing the total cost and reserve percentage for contracting complementary works for the project (constructing a multi-storey building with a bank in the Ministry of Interior Center).
6- Creating a component (consulting services for the development road project), within the project (preparing designs and auditing complementary works for railway line projects), and increasing the total cost of the aforementioned project.
The Council agreed to amend its resolution (24207 of 2024), regarding approving the recommendation of the Ministerial Council for the Economy, related to the recommendations of the Customs Order Committee (23942) regarding foreign debts, to become as follows:
1- Raising the second paragraph, which includes the delayed loan projects, recommended for cancellation, regarding the Khalidiya sewerage project funded by the French Development Agency (AFD), and allocating financial allocations amounting to $10 million for the year 2024, until the project is reconsidered and negotiations are completed with the French side.
2- Amending the amounts fixed in the text of Article (2/Deficit/1/B-11) of the Federal General Budget Law to allocate the financing of (the Al-Hamza City sewerage project), by one million dollars, for the benefit of the Ministry of Construction, Housing, Municipalities and Public Works, and allocating financing of 10 million dollars. For the Khalidiya sewerage project, for the benefit of the Ministry of Construction, Housing, Municipalities and Public Works.
3- In the event that an agreement is not reached with the French side, the two projects, the subject of research, will be included in the investment budget of the Ministry of Construction, Housing and Municipalities.
In the context of monitoring the conditions of the Sinjar region and the reconstruction of the liberated areas, the Council of Ministers agreed to amend Paragraph (6) of Council of Ministers Resolution (24043 of 2024) to become as follows:
1- Cancel the allocation of the two plots of land described in Paragraph (6) of Cabinet Resolution (24043 of 2024) from the Ministry of Construction, Housing, Municipalities and Public Works, and return their ownership to the Sinjar Municipality Directorate/Nineveh Governorate.
2- Providing the Ministry of Immigration and Displacement of Nineveh Governorate and the Sinjar and Nineveh Plain Reconstruction Fund with accurate statistics on the numbers of displaced families from Sinjar district residing exclusively in camps. With the aim of benefiting from it in preparing designs for residential complexes, and determining the number of decent housing units required to be available for them.
3- Nineveh Governorate, the Sinjar and Nineveh Plains Reconstruction Fund, and the Reconstruction Fund for Areas Liberated from Terrorism implemented what was stated in Cabinet Resolution (24043 of 2024), which included: (Establishing residential complexes on the two plots of land, the subject of the research, from the financial allocations available within the Federal General Budget Law (13 of 2023).
In order to provide full support to the armed forces, the Council agreed to allocate the Ministry of Finance, an amount of (56.375) billion dinars, to the Ministry of Defense, for the necessary and important rehabilitation work to support army units, within the budget of the Ministry of Defense, and in coordination with the Ministry of Planning.
Regarding regulating the work of expatriate workers, the Council approved the recommendations of the Diwani Order Committee (23602), regarding studying the period for adjusting the legal status of violating foreign workers, submitted by the Ministry of Interior on February 24, 2024, taking into account the opinion of the General Secretariat of the Council of Ministers regarding it.
In the field of investment and its regulation, the Council of Ministers approved the authorization of the Chairman of the National Investment Commission as an agency, the authority to negotiate and sign an amendment to the definition of the territory mentioned in the agreement (encouraging and protecting investment between the government of the Republic of Iraq and the government of the Kingdom of Saudi Arabia), based on the provisions of the Constitution, provided that it is an integral part. It is an integral part of the aforementioned agreement, and the draft of that agreement, after its signing between the two countries, is referred to the House of Representatives to complete the legal procedures for its approval, as stipulated in the Treaty Contracting Law (35 of 2015).
In appreciation of the achievement made by the champions of our Olympic team in qualifying for the Paris Olympics 2024, the Council of Ministers approved honoring the players of the Olympic soccer team with plots of free residential land with an area of (200 square meters) and a monthly grant of 400 thousand dinars for each of them, in accordance with Article 3/II - C, of the granting law. Champion and Pioneer Athletes (6 of 2013); For their third place in the Asian Cup under the age of (23) years, and their qualification to the Olympic Games in Paris, it was also approved to honor the training staff of the Iraqi Olympic football team by plotting residential plots of land with an area of (200 square meters) for each of them, as well as to honor the Iraqi weightlifter (Ali Ammar). Yusr), with a plot of land of 200 square meters; To qualify for the Paris Olympics, and to exclude those mentioned from the two conditions of birthplace and a personal pledge that the aforementioned individuals, their wives, or their minor children will not own a residential plot of land or a housing unit from the state.
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