Friday, July 2, 2021

WOTS THU JUL 1 21 The White Paper.. 64 projects and government directions to seek the assistance of international experts

 WOTS THU JUL 1 21

The White Paper.. 64 projects and government directions to seek the assistance of international experts

شراكة دوليَّة محليَّة لتطوير الدفع الالكتروني

These are the articles I discussed on the My FX Buddies Podcast 

Talk about the “advantages” of a citizen’s digital identity.. The Central Bank: We are close to creating an electronic collection system

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On Tuesday (June 29, 2021), the Governor of the Central Bank, Mustafa Ghaleb, announced the imminent launch of an identity that organizes the opening of an account for citizens from their homes, while referring to the creation of the electronic collection system that the bank has been working on since 2019 .

 

The Media Department of the House of Representatives said in a statement received by  IQ News , “The Committee to Monitor the Implementation of the Governmental Program, headed by Representative Hazem Al-Khalidi, Chairman of the Committee, and the presence of its members, hosted today the Governor of the Central Bank, Mustafa Ghaleb, and a number of government bank managers to discuss what has been accomplished from the ministerial curriculum,” indicating that "The meeting was held in the Constitutional Hall of the House of Representatives, in the presence of a number of members of various parliamentary committees, as well as the Minister of State for Parliament Affairs, Hiyam Al-Haidari ."

 

The committee indicated, according to the statement, that "it held several meetings to evaluate the work of the government and submitted in a previous period a detailed report to the House of Representatives, in which it touched on the percentages of achievement and areas of failure," noting that "the government has not yet presented its government program, which led to a lack of coordination between state institutions." different ".

 

The committee presented, according to the statement, "a number of questions regarding a number of related issues that fall within the work of the Central Bank, the most prominent of which are the negative effects of the decision to raise the exchange rate, as well as the absence of the reasons and justifications mentioned for this, especially with the increase in bank sales through the currency sale window and the possibility of filling the deficit after the increase in the price of Oil, in addition to the lack of the necessary conditions to preserve the local product, the many exceptions to this, and the clear delay of the Made in Iraq project. The stages of completion of the ministerial curriculum and the application of mechanization were discussed, in addition to the measures taken by the Central Bank and government banks regarding administrative reform .

 

The committee touched on “the foundations adopted by the Central Bank in classifying banks, closing banks in violation of the law, and the consequences of raising the exchange rate on the poor and middle class, stressing the need for coordination between the government and the Central Bank to start drafting a draft law for the bank . ”

 

With regard to supporting housing projects and granting loans, the committee warned of the "low percentage of achievement in this area . "

 

While the governor of the Central Bank praised "the effective role of the committee through exercising its supervisory role and seeking to diagnose weaknesses and work to fix them," pointing out that "all government banks are administratively affiliated to the Ministry of Finance and he has no choice in managing those banks, referring to addressing the government regarding that The central bank has a role in choosing the management of governmental and private banks .

 

And the Governor of the Central Bank indicated that “the banking sector in Iraq went through two important turns, the first in 2012 and the other in 2019 that led to a rise in the granting of licenses to banking companies and banks,” noting that “the bank demanded the government to automate the border crossings to control the imports of the ports, which are considered after oil in terms of importance ."

 

The Governor of the Central Bank pointed out that "the imminent establishment of an electronic collection system, which the bank has been working on since 2019, in addition to working on the digital identity that organizes the opening of an account for citizens from their homes and the transition from paperwork to the (Digital Bank ) system ."

 

For their part, the bank managers gave an explanation regarding the questions and inquiries raised by the deputies about the banking system, stressing that "there are problems facing a number of banks that need actual reforms."

 

Also during the meeting, the President of the Republic recommended that "counting and sorting processes be electronic as well as manual in every electoral station."


these are some of the videos and pictures of the children suffering from the heat


they have gone viral over there on social media and people are outraged

they are putting their babies in the refrigerator
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sleeping on the floors 
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this is a video I don't what he is saying but it appears the children are sleeping outside 
in the cart he uses for business

A local international partnership to develop electronic payment

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شراكة دوليَّة محليَّة لتطوير الدفع الالكتروني

In Baghdad, I announced a local international partnership that aims to develop the reality of electronic payment in Iraq, and to shift from a cash society in transactions to an electronic one that is characterized by safety and speed in all transactions, benefiting from global experiences in this field.

The new partnership that brought together the international company PayTabs and local funds is looking to give a new impetus forward in the field of electronic payment in Iraq in light of the expansion of use of carrier phones and the large number of users.

Regulatory legislation

The expert in the field of electronic payment, Hayan Khaduj, said: {E-commerce in Iraq needs legislation regulating its work mechanisms, especially since it can now be described as random}.

He pointed out that {the Iraqi market is important and large, and it must have the required regulation by everyone in the public and private sectors, at a time when we find global interest in the subject of electronic experiments rising at great rates in various parts of the world}.

Specialized platforms

The specialist in the matter of electronic payment, Muhammad Walid, stressed that {the Iraqi market must advance the reality of electronic payment through specialized platforms that provide advanced services that suit the public's preferences}.

As for PayTabs founder Abdul Aziz Al-Jaf, he said: {Iraq is one of the largest countries that will adopt electronic payment, as this market requires many and varied products that are commensurate with its size, as it provides flexibility for entrepreneurs and companies.}

health condition

The electronic payment specialist, Ahmed Al-Qarmli, indicated that {the health situation that the world experienced due to the spread of the Corona epidemic hastened the expansion of the reality of electronic payment, especially in Iraq, as the scope of electronic transactions expanded and this boosted the density within the local market.}

In turn, Ziyad Al-Hasani, director of an electronic payment platform, said: {Iraq is a young man in the field of electronic transactions, but it can be described as virgin, which encouraged the creation of new platforms specialized in this field, and here we can say: This large and promising market needs more regulation.”


The White Paper.. 64 projects and government directions to seek the assistance of international experts

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Advisor to the Prime Minister, Alaa Abdul-Hussein Al-Saadi, confirmed, on Wednesday, that the white paper included 64 projects, stressing that international experts would be hired to implement them.

Al-Saadi said, according to the official media, that "the white paper issued by the Iraqi government, in its first and second parts, identified a number of oil projects to increase export capacity, increase production, increase oil refineries, design energy, gas and gas extraction through 6 well-defined projects entrusted to the Ministry of Oil."

He continued that "the white paper includes two parts, the first part of which deals with the Iraqi economic reality and the goals and strategies followed by the government and the translation of these goals and strategies through the second part issued by the government and which included the mechanisms and governance of implementation, in addition to dividing these goals into strategic projects in various ministries." Noting that "there are approximately 64 projects, and each project is divided into a number of goals that must be implemented, and set in a time period," pointing out that "there are approximately 366 goals within the projects."

He stressed that "the announcement to start implementing the white paper projects will be issued soon," noting that "some ministries have started implementing some projects, but the official announcement of the implementation has not started," explaining that "during the coming period, preparations for the implementation process will be completed."

He pointed out that "the 64 projects included in the white paper, we will use to implement them with international expertise and international organizations, in order to provide the best experiences for each project separately, and we will launch a website for the implementation of the white paper, in order to achieve transparency and announce it to people within a very soon."


Injured by security bullets in night demonstrations in southern Iraq and threats to cut off the sea route 

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 A local source in Al-Aziziyah district of Wasit governorate reported on Wednesday that 4 protesters were wounded by security forces' bullets.

Dozens of residents of the district went out on Tuesday evening in protests against the deterioration of the reality of energy supply, which has declined significantly recently due to the increase in demand with temperatures rising to about 50 degrees Celsius and the occurrence of technical or sabotage failures in the electricity transmission and supply networks.

The source added, in his interview with Shafaq News Agency, that the injured were transferred to the judiciary hospital for the purpose of conducting a surgical intervention for them, as 3 of them are in a very critical condition.

The source also indicated that a team of protesters in the governorate center is currently heading to the judiciary, to find out the reasons for using live bullets against unarmed demonstrators, and there may be escalating developments in the judiciary in the coming hours.

In Basra, dozens of people went out late yesterday evening, with nightly protests to demand an improvement in the reality of electricity.

Shafaq News Agency's reporter stated, "Dozens of demonstrators in Khor Al-Zubair took to the streets of the city to demand an improvement in the electricity situation, which has reached a bad level during the past days."

And he indicated, "The demonstrators threatened to cut off vital roads linking Iraq to the world through the sea, unless their demands are implemented."

And the General Company for the Distribution of South Electricity announced on Tuesday, "The occurrence of an emergency technical accident on the national grid, and the disconnection of all generating stations from work in the southern region.

She noted that work is underway to find out the reasons and work to restore the system to work.


PROTESTERS BLOCK DUHOK-ERBIL MAIN ROAD OVER LACK OF ELECTRICITY, SERVICES

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This is in Kurdistan

Blocking the main road between Duhok and Erbil on Wednesday (June 30), residents of Chra community in Duhok’s Bardarash district protested about the lack of electricity in the area.

It is the latest protest related to poor public services, with similar protests taking place in Dukan, Erbil city, Penjwen, Bazian, and Kalar over the past week. Though the protests are not coordinated, with local residents acting in response to the conditions that they face every day, the causes and demands are remarkably similar.

Like the other demonstrators, the demands of the protesters in Chra community are two-fold.

First, that the Kurdistan Regional Government (KRG) provide better and more reliable public services, like water and electricity, and create local job opportunities.

Second, that the government answer their demands in a substantive way. At many similar protests, demonstrators have told reporters that they have raised their complaints with the government many times, only to receive no response and see no action taken to address their issues.

On Wednesday, the security forces in Chra community, which are affiliated with the Kurdistan Democratic Party (KDP), broke up the demonstration and cleared the road, but local officials have not commented about the root cause of the protest.

Planning: 4000 slums in Iraq inhabited by 3.5 million citizens

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The Ministry of Planning revealed that there are 4000 slums inhabited by 12% of the Iraqi population, with a population of 3 and a half million people, indicating that the solution to this segment lies in the adoption of the slums law that puts solutions for them.

Ministry spokesman Abdul-Zahra Al-Hindawi said, "There is work by the ministry to conduct a comprehensive survey of all slums in the country in order to identify the reality of this segment and answer many questions about them and know their conditions and the existing poverty rate and others," according to "Al-Sabah".

He added: "The requirements of this survey have been completed, but no date has been set for it, but it will be during this year," noting that "the anticipation of the Slum Law will last the ministry's survey, as it addresses the problem and sets solutions and legal cover for all treatments that pertain to this segment," stressing That "the delay in passing the law delays the treatments."

Al-Hindawi continued: "There will be no procedures before the law is passed as it defines and regulates guarantees for these people residing in these areas, as the government cannot demolish slums without alternatives, either by owning the land to its residents bypassing the basic design, or giving them plots of other land, all of which are treatments. within the prospective law.


Finance Minister: The white paper includes 600 changes in laws

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Finance Minister: The white paper includes 600 changes in laws

 

Deputy Prime Minister and Minister of Finance Dr. Ali Abdul-Amir Allawi said: {Iraq is dealing seriously with issues that have hindered and distorted the economy,' pointing out that "the Prime Minister and his reform team took a bold decision to implement a reform agenda, and any reform must have great political support." and recognition of its necessity, and there was support from political leaders and important parliamentary groups for reforming the state's economic policy. 
 
Infrastructure
He pointed out that {the decision to devalue the currency is necessary to improve competitiveness within the Iraqi economy and improve public finances, and a number of necessary infrastructure projects that have suffered interruption for years have been completed, and we have also worked on reforming the banking system, and establishing an anti-corruption squad. 
He stressed that {the white paper is the most important achievement of the government and a serious plan to reform the economy, as it calls for the issuance of more than 600 changes in laws aimed at reforming the economy}. 
 
investment efforts
The head of the National Investment Commission, Suha Al-Najjar, confirmed that "investment is an absolute necessity to develop the reality of the national economy and move it to a better stage, and that the commission is supportive of investment efforts that wish to enter the Iraqi labor market. 
The speech of the Minister of Higher Education and Scientific Research was read out by Dr. Yassin Al-Ithawi, in which he emphasized “the ministry’s continued investment in human capital,” pointing to “the establishment of training units that will be transformed into specialized centers, aimed at developing students and putting them in the labor market after rehabilitating them.” ", pointing to a breakthrough in the reality of e-learning during a record period, despite the lack of infrastructure in the country."
 
International Conferences
Member of the Board of Directors of the Union of Arab Banks Ziad Khalaf said: {The issue of the reconstruction of Iraq began to be planned immediately after the end of the war, as the first preparatory meeting was held in New York, during which the United Nations, the World Bank, the International Monetary Fund and the Iraqi side identified the main sectors involved in reconstruction, including education. And health, transportation, transportation and electricity, as well as many other international conferences, which were devoted to the reconstruction and held in Japan, China, Spain, Belgium, Egypt, Kuwait and other Arab countries, up to the white paper that was officially supported by {the International Contact Group for Iraq IECG. Which includes the seven 7G countries, the European Union, the World Bank and the IMF 
international }.
He said: {As a matter of national responsibility, I appeal to all distinguished Iraqi businessmen at home and abroad to participate in the development of the private sector to enable it to assume an important role in the responsibility of reconstruction and to play a greater role in the economic arena and to supply the necessary supplies for everything the country needs, to reflect the real capacity inherent in Iraqi society and attracting national immigrant capabilities to rebuild the country.
 
achieve goals
As for the Deputy Governor of the Central Bank, Ihsan Al-Shamran, stressed that rebuilding Iraq requires the ability to build and follow it, and to achieve the goals seriously. 
He referred to the initiatives of the Central Bank and the support it provides to small and medium enterprises in addition to the housing sector, especially vertical housing with comfortable installments, and the Central Bank is also working to enhance the role of women in economic life. 
He pointed out that "the evaluation oversight on the banking system to be an actual supporter of the development process and assigning it with possible financing."
 
put forward an initiative
Communications specialist Alaa Jassem said: "The world has become closely linked to the Internet, which requires us to provide advanced services in the country," noting that "the coming period will witness the launch of an initiative (Education in Iraq), and this supports electronic universities." 
The representative of Frontier Exchange Company, Ahmed Al-Jader confirmed that {the volume of international participation in the conference by major international companies reflects the importance of the Iraqi market for international companies, as it is keen to be present in the economic forums organized inside Iraq}.

 

After Brussels, Al-Kazemi heads to the Vatican to meet Pope Francis

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An official government source said on Thursday that Iraqi Prime Minister Mustafa Al-Kazemi will visit Italy and the Vatican.

The source told Shafaq News Agency, that Al-Kazemi will travel from the Belgian capital, Brussels, to Rome, and then to the Vatican for the purpose of meeting and meeting with His Holiness Pope Francis.

Iraqi Prime Minister Mustafa Al-Kazemi began his official European tour the day before yesterday, Tuesday, by visiting the Belgian capital Brussels.
Below here is the daily WOTS "Word on the Street" report

The dollar exchange rates in the local markets for Thursday, July 1, 2021, according to the monitoring of specialists.   

 

Baghdad - Stock Exchange of struggle الكف  

147,250   

Exchange rate (approximate)  

146,750  

147,750  

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Basra - Bursa  

147,300  

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Erbil - Bursa  

147,500  

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Mosul - Bursa  

147,500



The Markets:
The Asian markets closed down NIK  by .29% HSI  by .57% SHANG down by .07%
The UK markets are currently trading in the green from .14% to .87% 
Our futures are currently trading mixed  DOW at 34454 up  by .16% SNP at 4293 up  by .11% NDX at 14538 down  by .07%

Precious Metals:
Gold is green at 1775 Silver is green  at 26.35 Copper is green at 429 Platinum is green at 1090 
Brent 75 WTI  74   Bitcoin: 33,259 10 yr yield: 1.48

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1458.0000  1463.0000 1458.0000 1457.8000 1457.8000  0.2000 00:00
 USD/VND  23010.0000  23015.0000 23026.1300 23020.4700 23026.1300  -7.6800 02:20
 USD/CNY  6.4667  6.4687 6.4676 6.4556 6.4556  0.0103 05:13
 USD/KWD  0.3008  0.3018 0.3010 0.3008 0.3010  -0.0001 05:07
 GBP/USD  1.3777  1.3778 1.3833 1.3771 1.3831  -0.0055 05:13
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14540.0000  14543.0000 14573.0000 14508.0000 14542.0000  -2.0000 05:13
Things in the News:

Iraqi Articles:

Global oil prices rise to 74.72, the day after the OPEC+ meeting

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Oil prices rose on Thursday, as investors awaited a decision from major producers on whether to continue or ease supply cuts in the second half of this year.

Brent crude for the month of September rose to seventy-four dollars and seventy-two cents a barrel, while the US West Texas Intermediate crude for the month of August recorded seventy-three dollars and sixty-one cents a barrel.

Observers expected a widening of the global supply deficit in the second half of the year, with the Organization of Petroleum Exporting Countries and its allies, known as OPEC Plus, continuing to cut production as demand rose.

A new clarification from the Rafidain Bank for citizens and employees

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Al-Rafidain Bank issued new instructions to facilitate procedures for citizens wishing to open savings and current accounts to deposit their money in the bank.  

 

The bank’s media office said in a statement, of which “Nass” received a copy, (1 July 2021), that “the bank canceled the requirement to see the definition for customers who wish to open current accounts, with the aim of attracting the largest number of customers, with a commitment to applying the principle of “know your customer” and taking due diligence measures.” .  

The bank reiterated its "obligation to submit one supporting document when opening savings and current accounts."  

The statement explained that "the unified card dispenses with the rest of the documents, and there is no need to wait for the validity of its issuance, while adopting the civil status identity, passport, housing card, or housing support for those who were not issued a unified card."


CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For July  , 2021 total sales amount $ . HOLIDAY

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

7-1-2021   Intel Guru MarkZ   [via PDK]   We are sure seeing some crazy things on dinar…At the bank yesterday the rate was showing at about .68 cents…not even a 1 to 1 yet. But this is still an enormous change in value… This still could be testing or place holders or priming the system…but I take this as a very good sign. We will just watch it until the real rate locks in. 
6-30-2021   Newshound/Intel Gurus Walkingstick & Frank26  If you have not yet seen articles explaining the new exchange rate we want you to be prepared because they are about to come out...they are going to explain the Iraqi dinar being on par with the USD.  These articles are set to be released very soon.  These articles are to be coupled with explanation of the removal of the three zeros from their exchange rate.   These articles will also be an introduction of a new currency that we call new small category notes and of their denominations.  The understanding is the CBI is prepared to release those articles at any time.  There is more to come but it is our desire to stop there until these articles come out.

6-30-2021   Intel Guru MarkZ   [via PDK]   In Iraq they are still saying on the street that they will have the highest valued currency in the region…Right now the highest valued currency is Kuwait at about $3.31.

6-30-2021   Intel Guru Holly   Wednesday Rv News:   We were born for this moment in time! We are part of history in the making. Record the day you get your notifications and go to your appointment. Write it down for future generations that you participated in the greatest transfer wealth ever to happen on the planet. You had a front row seat and actively participated in making it happen. The news was very quiet yesterday as people are gagged. All sources are on board this is our week. We are in a now or never scenario. The go was given and we await the notifications to come out...We are in any any moment time-frame and we are coming up to a three day weekend. We are in the optimal timing for this now...

6-30-2021   Newshound/Intel Guru Petra   With Kazemi doing what he's doing and the speech he gave on TV Saturday, telling the country they are about to go international. They are about to support the people.  I believe without a shadow of a doubt Kazemi is a man of the people...I think we're marching right up to this very very close based on what they're telling us they're doing. 

6-30-2021   Intel Guru MarkZ   [via PDK]   [Is it quiet out there on RV or is it just me?]  Its not just you…its pretty quiet...the PTB, UST, Homeland Security have really cracked down on leaks.  This is a good thing. ...We do have a 3 day weekend coming up…perhaps it’s going to be interesting? For those of you who are new to the game…we pay attention to 3 day weekends because the original plan years ago was for the RV to be released on a 3 day weekend so they would have that extra banking day to put everything into place. …Whether or not they still need this…probably not…but we still get nervous on 3 day weekends wondering if “this is it”.  Hopefully we will see something before then.

6-30-2021   Intel Guru Frank26  Article: "The advisory body is studying the investment of high oil prices and addressing the effects of the dollar exchange"  They're telling you they are changing the rate.  Quote: "there is a study that the Central Bank is conducting with the Ministry of Planning and economic experts to address the effects of changing the exchange rate."  Oh my dear god.  What do you think are the positives of the decision to raise the value of the Iraqi dinar? The Iraqi citizens gain purchasing power.    This is what they wanted...

6-30-2021   Newshound Guru Pimpy  This next week is going to be interesting in a lot of different ways.  Let's see how everything pans out.  Let's see what this [U.S.] bombing [Inside of Iraq] has caused.  Let's see if anything is going to come of it - bad or good...We have good news in the sense that outside investors are...ready to get in there.  The other thing...they have the money to start reconstruction which is good.  They weened out their corruption - this is good.  We need a strengthened economy - This is good.  The removal of sanctions off the Ayatollah in Iran is bad.  It's a grab bag of news.  It's a mixture of stuff...I'm hopeful...they seem to be moving in a positive direction which is good and that's what we want.

6-30-2021   Newshound Guru Kaperoni   One thing I've noticed over the last couple weeks is the significant amount of laws that are related to developing Iraq's economy that they say they are now in the hands of parliament. We've heard this all before it but it's time for parliament to pass these laws.

6-30-2021   Intel Guru Fleming   Tuesday RV Report:  Our military intel contact said things are moving fast and that as of 1:57 pm EST today Tue 29 June DoD gave a release for lock down of rates and procedures for the shotgun start & T4B notifications —watch today & tomorrow he said...

Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi meets with the Prime Minister of Belgium 

Today, Wednesday, Prime Minister Mustafa Al-Kazemi met with the Prime Minister of Belgium, Mr. Alexandre de Croo, during his official visit to the capital, Brussels.

During the meeting, they discussed bilateral relations between the two countries and ways to enhance cooperation in various fields and issues of common interest.

Mr. Al-Kazemi expressed his appreciation for Belgium's supportive stance for Iraq in fighting the terrorist organization ISIS through the international coalition, as well as its contribution to training and assisting Iraqi forces, and in the field of high intelligence cooperation between the two countries as part of efforts to confront terrorism.

His Excellency also praised Belgium's support for the Iraq Stability Fund of the United Nations Development Program for the purpose of rebuilding liberated cities, in addition to supporting programs related to mine removal and humanitarian aid programs implemented by the High Commissioner for Refugees.

His Excellency stressed the importance of holding a third political round within the framework of the political and diplomatic memorandum of understanding between the two countries, the second round of which was held in Brussels three years ago.

His Excellency explained the importance of reopening the Belgian embassy in Baghdad, given the relations between the two countries and Belgium's support for Iraq in many areas, stressing the responsibility of the Iraqi government to protect the security of diplomatic missions in Iraq and to work hard to prevent the recurrence of attacks on Iraqi diplomatic missions and military bases that host foreign advisers and trainers.

Views were also exchanged regarding the upcoming Iraqi elections, where the Prime Minister stressed Iraq's need for electoral support from all parties for the success of the upcoming early elections.

In turn, the Belgian Prime Minister, Mr. Alexandre de Croo, praised the reform steps of the current government, stressing that he would provide any assistance needed by Iraq in holding early elections and moving forward in achieving stability and reconstruction.

Media Office of the Prime Minister
30 - June - 2021

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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi meets in Brussels with the President of the European Commission, Mrs. Ursula von der Leyen 

Today, Wednesday, Prime Minister Mustafa Al-Kadhimi met the President of the European Commission, Mrs. Ursula von der Leyen, at the Commission's headquarters, as part of his official visit to Belgium.

During the meeting, Mr. Al-Kazemi indicated his appreciation for the role of the European Union in committing to Iraq’s unity and sovereignty over its lands, as well as looking forward to supporting the Union in the field of reconstruction of cities liberated from ISIS and fulfilling the pledges of the Kuwait Donors Conference in 2018, in the field of reviving infrastructure and providing services at a level befitting the Iraqi citizen. .

His Excellency also made it clear that the government is determined to make the early elections that will take place in October next successful, and thus looks forward to the European Union's support for these elections in the field of technical support for the Electoral Commission and electoral observation and coordination with the UNAMI mission on the way to complete the international efforts for electoral support mandated by the UN Security Council .

During the meeting, the Prime Minister referred to the efforts made to remove Iraq's name from the European Commission's list of countries with a high risk of money laundering, and called on him to form a committee to coordinate between the two parties in this regard, to support the government's efforts in fighting corruption and recovering and prosecuting smuggled funds in European countries.

His Excellency renewed the government's confidence in its reform program through the white paper, as he pointed out what it has done in the field of attracting investors and facilitating their work in Iraq, calling on the European Commission to support these steps and support Iraq's trend towards financial and economic reform.

For her part, Ms. von der Leyen praised the economic reforms pursued by the Iraqi government headed by Mr. Al-Kazemi, and considered the white paper and anti-corruption mechanisms steps towards bold reforms that it is important for Iraq to pursue, and expressed the Commission's support for them.

The Chairperson of the Commission also indicated that the approval of the date of the early Iraqi elections by the government came as a very important step, and expressed all readiness to help, and that the Commission has taken a decision in this regard.

Ms. von der Leyen described the Iraqi victory over terrorism as a great and appreciated act by the European side, and that the European Union will continue to provide support to the Iraqi armed forces.

She commended the balanced policy pursued by the government of Mr. Al-Kazemi externally, which has strengthened Iraq's international standing and supported the strengthening of its foreign relations.

Media Office of the Prime Minister
30 - June - 2021

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ARTICLE 1-C (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kadhimi meets with permanent representatives of NATO member states in Brussels 

Today, Wednesday, Prime Minister Mustafa Al-Kadhimi met with the permanent representatives of NATO member states, at the alliance's headquarters in the Belgian capital, Brussels, in the presence of NATO Secretary-General Jens Stoltenberg.

During the meeting, the Prime Minister delivered a speech in which he affirmed Iraq's appreciation for joint cooperation with NATO countries as it confronts terrorism, and explained the Iraqi government's position on efforts aimed at establishing peace and security in the region and Iraq's positive and active role in this field.

In his speech, His Excellency also praised the role of our armed forces in all its forms as they confront terrorism, and described Iraq as the first line in the war against the terrorist ISIS, and that it is the same terrorism that strikes any city in the world.

Mr. Al-Kazemi indicated that Iraq highly values the role of the Alliance in raising the combat level of our armed forces, calling for continued assistance in the field of training, armament and intelligence support, as well as Iraq's determination to complete the construction of its security and military institutions.

For their part, the permanent representatives of the member states of NATO, in the presence of the Secretary-General of NATO, Mr. Jens Staltenberg, expressed their countries' commitment to support Iraq, and to back the government's efforts to support the capabilities of the security services. They also affirmed their appreciation and praise for the progress achieved by Iraq in various political, security and economic fields. They expressed their readiness to support the Iraqi government's efforts to organize early, fair and fair elections.

They also praised the great openness in Iraq's international relations, especially the success of the Iraqi-Jordanian-Egyptian tripartite summit, which was recently hosted by Baghdad, and considered it a sign of the active regional role that Iraq offers in working to stabilize the region, develop its economy, and joint regional cooperation in a way that enhances the security and progress of its peoples.

In their words, the ambassadors of the NATO countries stressed that the framework of the NATO mission in Iraq will only be in accordance with the request, needs and priorities of the Iraqi government, expressing their confidence that building on the development achieved by the Iraqi security forces will be an important factor in achieving security and stability, locally and regionally, which will be reflected On the ability of the entire world to confront terrorist threats in the future.

Media Office of the Prime Minister
30 - June - 2021

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ARTICLE 1-D (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi meets the Secretary General of the North Atlantic Treaty Organization (NATO) in Brussels 

Today, Wednesday, Prime Minister Mustafa Al-Kadhimi met with the Secretary-General of NATO, Mr. Jens Stoltenberg, at NATO headquarters in the Belgian capital, Brussels.

The meeting discussed relations of cooperation and partnership between Iraq and NATO countries in various political, economic, security and trade fields, as well as measures to expand the framework of the NATO mission in Iraq according to Iraqi security priorities and in prior coordination with the government.

Mr. Al-Kazemi indicated the importance of developing relations between Iraq and NATO for the interests of the Iraqi people and the stability of the region and the world, as he stressed
The importance of Iraq not being an arena for settling conflicts, or a springboard for aggression against any of its neighbors.

The Prime Minister indicated the need to cooperate with NATO in order to support the efficiency and capabilities of our forces and security institutions of all kinds, especially in the context of preparing to secure the upcoming early elections, as well as enhancing their capabilities to protect against terrorist and criminal attacks against citizens and infrastructure.

For his part, the Secretary-General of NATO, Mr. Jens Stoltenberg, welcomed Mr. Al-Kazemi and his accompanying delegation, and praised his role, great efforts and leadership of Iraq in light of the great challenges facing Iraq, the region and the world.

Stoltenberg stressed that NATO countries will continue to support Iraq, saying, "Iraq can count on the support of NATO and its countries for your government and the approach it is working on." He also congratulated the Iraqi government for the progress it has made in combating ISIS gangs and terrorist groups, and imposing the prestige of the state and the rule of law.

The Secretary-General of NATO expressed his readiness to expand cooperation between Iraq and the alliance, noting at the same time that the mission in Iraq is a non-combat mission of a purely training and advisory nature, and that any expansion of its work framework will be in accordance with the request, approval and priorities of the Iraqi government, as he indicated that the mission It will depend on the Iraqi security forces to provide its security and protection.
 
Media Office of the Prime Minister
30 - June - 2021

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ARTICLE 2 (from Government of Iraq twitter account)

During the meeting, the importance of holding a third political round was discussed within the framework of the political and diplomatic memorandum of understanding between the two countries, the second round which was held in Brussels three years ago.

PM @MAKadhimi meets with his Belgian counterpart, H. E. @alexanderdecroo, during his official visit to Brussels.
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ARTICLE 3

Two new governorates suspend official working hours tomorrow, Thursday
06:10 - 30/06/2021
Baghdad - Mawazine News

The Governor of Anbar, Ali Al-Dulaimi, instructed, on Wednesday, to suspend the official working hours, tomorrow, Thursday, in the province.

Al-Dulaimi said in a statement, which Mawazine News received a copy of, that "it was decided to suspend the official working hours tomorrow, Thursday, in all government institutions, in order to preserve the safety of workers in them, due to the high temperatures above their normal rates."

For his part, the Governor of Muthanna, Ahmed Manfi, directed the governorate departments to reduce the official working hours, starting today, due to the high temperatures.

The Governor of Salah al-Din Ammar Jabr also decided to suspend the official working hours of all departments in the governorate, except for services and health, for tomorrow, Thursday. Ended 29/R7

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Thursday, July 1, 2021

WOTS WED JUN 30 21 A local international partnership to develop electronic payment for all Iraqis

 WOTS WED JUN 30 21 A local international partnership to develop electronic payment for all Iraqis

I did not record a My FX Buddies Podcast for this day.

The first box is translating to say the trade balance in the country One of the most important exchange rate change

The 2nd box is translating to say The decision to change the exchange rate, the salaries of employees in state dollars, and retirees as well

The 3rd box is translating to say The exchange rate comes in order to bridge the budge deficit by 12 trillion dinars

The 4th box is translating to say A legal expert speaking ARA changed the dollar exchange rate from 1180 to 1460 dinars against the dollar

I will do the bottom 4 later...

 


The dollar exchange rates in the local markets, for Wednesday (June 30, 2021), according to specialists' monitoring.   


Baghdad - Stock Exchange of struggle الكف  

147,000  

....  

Exchange rate (approximate)  

146,500  

147,500  

—————————————————  

Basra/ Bursa  

147,100  

-——————————-  

Mosul / Bursa  

147,350  

——————————-  

Erbil / Bursa  

147,350  

——————————-  

Najaf / Bursa  

147,000  



The Markets:
The Asian markets closed mixed NIK down by .07% HSI down by .57% SHANG up by .50%
The UK markets are currently trading in the red from .40% to .89% 
Our futures are currently trading down  DOW at 34118  by .15% SNP at 4277.25  by .11% NDX at 14550 down  by .09%

Precious Metals:
Gold is red at 1757 Silver is green  at 25.92 Copper is green at 429 Platinum is red at 1059
Brent 75 WTI  73   Bitcoin: 34,724 10 yr yield: 1.45

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1458.0000  1463.0000 1457.8000 1457.6000 1457.6000  -0.4000 00:00
 USD/VND  23014.0000  23018.0000 23012.9900 23008.1700 23008.1700  5.7300 22:41
 USD/CNY  6.4569  6.4589 6.4633 6.4528 6.4631  -0.0063 05:21
 USD/KWD  0.3006  0.3016 0.3009 0.3007 0.3009  -0.0002 05:21
 GBP/USD  1.3854  1.3855 1.3860 1.3816 1.3823  0.0032 05:28
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14522.0000  14534.0000 14591.0000 14498.0000 14562.0000  -39.0000 05:26

Things in the News:
Iraqi Articles:

A local international partnership to develop electronic payment

link

شراكة دوليَّة محليَّة لتطوير الدفع الالكتروني

In Baghdad, I announced a local international partnership that aims to develop the reality of electronic payment in Iraq, and to shift from a cash society in transactions to an electronic one that is characterized by safety and speed in all transactions, benefiting from global experiences in this field.

The new partnership that brought together the international company PayTabs and local funds is looking to give a new impetus forward in the field of electronic payment in Iraq in light of the expansion of use of carrier phones and the large number of users.

Regulatory legislation

The expert in the field of electronic payment, Hayan Khaduj, said: {E-commerce in Iraq needs legislation regulating its work mechanisms, especially since it can now be described as random}.

He pointed out that {the Iraqi market is important and large, and it must have the required regulation by everyone in the public and private sectors, at a time when we find global interest in the subject of electronic experiments rising at great rates in various parts of the world}.

Specialized platforms

The specialist in the matter of electronic payment, Muhammad Walid, stressed that {the Iraqi market must advance the reality of electronic payment through specialized platforms that provide advanced services that suit the public's preferences}.

As for PayTabs founder Abdul Aziz Al-Jaf, he said: {Iraq is one of the largest countries that will adopt electronic payment, as this market requires many and varied products that are commensurate with its size, as it provides flexibility for entrepreneurs and companies.}

health condition

The electronic payment specialist, Ahmed Al-Qarmli, indicated that {the health situation that the world experienced due to the spread of the Corona epidemic hastened the expansion of the reality of electronic payment, especially in Iraq, as the scope of electronic transactions expanded and this boosted the density within the local market.}

In turn, Ziyad Al-Hasani, director of an electronic payment platform, said: {Iraq is a young man in the field of electronic transactions, but it can be described as virgin, which encouraged the creation of new platforms specialized in this field, and here we can say: This large and promising market needs more regulation.”

Parliamentary legal reveals new details about the joint meeting with the Governor of the Central Bank

link

The Parliamentary Legal Committee revealed new details of the parliamentary meeting with the Governor of the Central Bank and the directors of the housing and real estate banks, Al-Rafidain and Al-Rasheed.

Member of the committee, Representative Hussein Al-Aqabi, said, in a statement to the National Iraqi News Agency ( NINA ), that "there are major gaps in the work of banks, some of which exist because of the banks themselves, and others are linked to government agencies and other institutions, including border crossings, customs, the Real Estate Department, the Companies Registrar, and the Ministry of Trade."

He added, "These loopholes create noticeable confusion and corruption operations, especially in the currency auction," noting that "the meeting discussed the repercussions and damages of the currency auction, as we proved its economic feasibility and the need to search for other mechanisms in marketing the currency for real "field" traders who invest foreign currency. Actually importing goods, goods and services from abroad.”

He explained, "We confronted the governor of the Central Bank with facts and evidence that the currency auction is supported by parasitic banks and banks whose function is only investment, and therefore we are waiting for the bank's governor's actions regarding it."

Today, Tuesday, the committee to follow up on the implementation of the government program and parliamentary strategic planning held a joint meeting with the governor of the Central Bank and directors of housing, real estate, Rafidain and Rashid banks, on evaluating the performance of banks and general financial and monetary policy.

 Adviser to the Prime Minister of Iraq: The Law on Reconstruction and Investment is on its way to "representatives"

link


Mubasher: Sabah Abdul Latif Mushtat, advisor to the Iraqi Prime Minister for Reconstruction and Investment Affairs, confirmed today, Monday, that the Law on the Reconstruction and Investment Council is on the way to legislation, while noting that the law will set a strategy for building the country.

Mushtat told the Iraqi News Agency (INA), that "the Law of the Reconstruction and Investment Council began as an idea in the time of the government of former Prime Minister Adel Abdul-Mahdi, as it was reformulated after it was discussed in the State Council, but the government changed," noting that "one of the provisions of the government program for the government of The current Prime Minister, Mustafa Al-Kazemi, is to establish the Council for Reconstruction and Investment.

He added: "At the beginning of the formation of the government, the Law of the Reconstruction Council was sent to us and a committee was established with the membership of Suha Al-Najjar, who was the Prime Minister's advisor for investment, the legal advisor to the Prime Minister and the director of the legal department in the Ministry of Finance, and I as an advisor for reconstruction and services affairs, as our proposal was to change his name from the Reconstruction Council to The Council for Reconstruction and Investment," noting that "the law is currently on its way to the House of Representatives for approval."

He continued, "The House of Representatives will not deal with the law with priority because the remaining period of its life is short, and there are projects that must be approved," explaining: "We are waiting for its approval to develop a reconstruction strategy in the country."

The previous government, headed by Adel Abdul-Mahdi, voted on the draft law on the Reconstruction Council for the purpose of submitting it to the House of Representatives, where the draft law was prepared jointly by the Presidencies of the Republic and the ministers, benefiting from the advice of many experts and competencies.


The draft law aims to establish infrastructure and establish major projects in the country such as roads, bridges, airports and ports, in addition to eliminating unemployment by encouraging investment and employing manpower, following up on the establishment of strategic, industrial, agricultural, health and housing projects, and sustaining their operation in accordance with international standards and concepts.

The project authorized the Reconstruction Council to have broad powers such as contracting, control, supervision, implementation and management of major projects effectively, creating job opportunities, maximizing the benefit of Iraqi citizens from state resources by distributing project profits to them, giving them priority in subscribing to the Council’s projects, and implementing development projects of economic importance to develop and diversify the resources of the Council. Iraq, material and human, and the establishment of active national sectors capable of free competition and advancing the wheel of development forward.


CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For June 30th , 2021 total sales amount $195,134,000 . 

including   $19,790,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

6-30-2021   Intel Guru Fleming   Tuesday RV Report:  Our military intel contact said things are moving fast and that as of 1:57 pm EST today Tue 29 June DoD gave a release for lock down of rates and procedures for the shotgun start & T4B notifications —watch today & tomorrow he said...
6-29-2021   Intel Guru MarkZ   [via PDK]   ...I was hoping to have something more solid tonight…I’m not hearing anything negative... I am hoping to have updates...tomorrow. Most of my group leader contacts are looking for Wednesday night into Thursday at this point. The news really is good and paymaster and group leaders are being leaned on to not give details.

6-29-2021   Newshound Guru Kaperoni  ...'program rate' again. That is a made-up term that is misconstrued from the IMF Article IV Consultations.  The exchange rate of the dinar is the exchange rate. It is not a program rate.  ...[Guru] Mtn Goat thinks Iraq cannot float the currency from a 'program rate.'...If and when the dinar floats, it will float from the rate it is at the time.

6-29-2021   Intel Guru MarkZ   [via PDK]   ...there is great expectations of bond redemptions today and tomorrow...If this is indeed to take place they need the RV immediately on its heels. Lots of chatter but nothing solid yet today.  A lot of bankers who had left are now back in place...

6-29-2021   Intel Guru Frank26   Article, I've got a picture of it I was so impressed with it.  I said, "WHAT!"  Holy cow, they just told the world that they are making a change to their exchange rate.  What have we been saying this entire time?    The only reason the Kuwait conference failed was because they didn't go Article VIII.  Now the only reason those same companies, those same countries are pouring in is because they are Article VIII which is attached to the fact that they made a change to the exchange rate for their currency.  For them to say it...oh my goodness!  That was it!

6-29-2021   Intel Guru Holly   Tuesday RV News:  I have many confirmations that our long awaited blessing is upon us...The meetings yesterday went well and the go was given. We are in the most optimal time for this to happen...I expect notifications by today or tomorrow. 

6-29-2021   Newshound Guru Pimpy  Now that makes it very realistic that the IQD can indeed be revalued around $3.00 if not more.  I'm not saying that's the rate.  I'm saying now that is a more realistic rate given the fact that we know for sure now that the amount of existing IQD has been reduced by at least a minimum of 70%...this is great news.  That means the amount of money in the hands of speculators is very low.   [post 2 of 2]

6-29-2021   Newshound Guru Pimpy   Something like 95% of the [IQD] supply is out of country.  5% of it is in country.  I can tell you this that the big portion of the existing IQD is in the hands of banks...a lot of people talk about having IQD, how many people actually have it?   The average speculator has 250,000 IQD...So if they removed 70% of the money supply, plus all the ones that have been damaged just through wear and tear, ones that were taken by ISIS, ones damaged during the flood, that means the actual amount of IQD out there is very low.  [post 1 of 2]

6-29-2021   Newshound/Intel Guru Petra  It's very clear to me the progress has been absolutely phenomenal.  If you were to put on a chart the amount of conversation that has gone from the CBI...the last two weeks have been off the charts.  And the right people are talking.  Basically setting the stage...there is clear evidence that a campaign has been going on now for a little over a week, maybe longer.  It's talking to the citizens about what is coming...they have carefully and clearly and strategically been letting out information...IMO they are executing on a very tight plan.


Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi leaving for Brussels: The visit will focus on activating the economic agreements between Iraq and the European Union countries 

Prime Minister Mustafa Al-Kazemi and his accompanying delegation left the capital, Baghdad, on an official visit to the European Union headquarters in Brussels.

His Excellency is conducting a series of meetings and dialogues with the Belgian side and the European Union to enhance the level of Iraqi-European cooperation.

Prior to his departure, the Prime Minister stressed that the visit will focus on activating the agreements concluded between Iraq and the European Union countries, and in a way that contributes to Iraq overcoming the economic crisis and expanding the scope of investments.

He added that Iraq faces a seasonal shortage in the supply of electric power that the government feels and will take measures to address it, knowing that we have opened 4 major electric power stations this year, and we look forward to opening more stations in the coming months.

Mr. Al-Kazemi also indicated that the production of electrical energy has reached its highest level over the past decades, but the challenges are still great, and we still need more hard work to rise to the level of our people's entitlement and their legitimate rights, including energy provision.

His Excellency stressed that the electricity crisis is the result of poor planning in this field, and waste of money and energies for the past long years without a clear methodology for a long-term solution.

He added that this government inherited a legacy of poor planning in the field of energy and worked during the past year to expand investments in electric power in addition to activating the investment of Iraqi gas, which is the decisive factor in the operation of our electric stations, most of which run on gas, which reflects the previous poor planning and the lack of strategic plans in this field.

He stressed that the talks he will hold with the European Union countries will focus on this field in addition to the other economic, security and political fields.

Media Office of the Prime Minister
29 - June - 2021

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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side

The Council of Ministers holds its regular session headed by the Prime Minister, Mustafa Al-Kazemi, 
29-6-2021

Today, Tuesday, Prime Minister Mustafa Al-Kazemi chaired the twenty-fifth regular session of the Council of Ministers, during which he discussed a number of issues and developments in the country, as well as discussing the topics included in the session's agenda.

At the beginning of the session, Mr. Al-Kazemi renewed his previous directives to the ministers to work hard in order to create a stable electoral environment, and to create the appropriate atmosphere for holding the elections without any obstacles and in a way that ensures wide participation of the voters. optimally.

His Excellency referred to Iraq's success in hosting the tripartite, Iraqi-Jordanian-Egyptian summit, in the presence of Jordan's King Abdullah II bin Al-Hussein, and the President of the Arab Republic of Egypt, Mr. Abdel Fattah El-Sisi, within the framework of Iraq's openness to its Arab surroundings, restoring its regional role, and building complementary relations with its brothers. On common interests and to achieve the stability and well-being of peoples

The Cabinet session witnessed a review of the developments of the work of the Committee to Strengthen Governmental Measures in the areas of prevention and health awareness control to limit the spread of the Corona pandemic, especially with the emergence of signs of an escalation in the number of injuries and what the Ministry of Health requires to double work to confront it, in addition to its efforts in securing vaccines and distributing them to health institutions In Baghdad and the provinces, he urged citizens to take the vaccine.

After the Council of Ministers discussed the topics on the agenda, it issued the following decisions:

First / Approval of the recommendation of the Ministerial Council for Energy (89 for the year 2021), according to the following:

- Signing an annex to a second contract for the supply of electric power via the (Khabat - Qaraqosh) line with a voltage of (132) KV and a capacity of (100-150) megawatts, in addition to the capacity previously contracted to supply it according to the Cabinet Resolution (150 of 2021), a line (Chemchemal). - Taza), and two lines (Kardamala - Debs) in the amount of (300 + -15%), to compensate for the shortage of electrical energy due to the decrease in energy supplies from the Iranian side and the continued need for the electrical system, and at the tariff price for energy imported from the Iranian side, provided that the processing is starting From 15 May 2021.

- The General Electricity Transmission Company/Northern Region affiliated to the Ministry of Electricity bears the amounts of taxes due, and this is regulated by the contract concluded with the supplying company.

Second / agree to the following:

Excluding the purchase of copyrights (Copy Right), contracting foreign literature for translation into national languages, the production of cinematic, theatrical and folklore works from the contracting methods set forth in the instructions for implementing government contracts (2 of 2014), the instructions for implementing the federal general budget for the fiscal year / 2021, and simplifying the procedures for purchasing Intellectual property rights for foreign literature by approving electronic communications to own it, as is the case in the Arab world and the countries of the world.

Providing financial grants for cinematographic films from the budget available in the Ministry of Culture for the co-production of the following films:

A - the wood man
B - Messi Baghdad
C - the exam
D- Europe
E - the hanging gardens

The employees of the Ministry of Culture receive wages for their work in translation or film and theater productions and folk arts within the budget and the allocated sections, provided that the conditions mentioned in Article (53) of the Civil Service Law (24 of 1960) as amended.

Media Office of the Prime Minister
29 - June - 2021

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ARTICLE 2 (from Government of Iraq twitter account)

PM @MAKadhimi leaves to Brussels on an official visit focuses on activating the economic agreements between Iraq and the European Union countries.
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ARTICLE 3

Details of hosting the Governor of the Central Bank in Parliament... near the launch of the Digital Bank 09:28 - 29/06/2021
Baghdad - Mawazine News

The Media Department of the House of Representatives revealed, on Tuesday, the details of hosting the Governor of the Central Bank in Parliament. While the governor of the bank announced the imminent move to the "Digital Bank".

The Media Department of the House of Representatives stated, in a statement received by Mawazine News, a copy of it, that "the committee to monitor the implementation of the government program, headed by Representative Hazem Al-Khalidi, head of the committee, and in the presence of its members, hosted the Governor of the Central Bank, Mustafa Ghalib, and a number of government bank managers to discuss what has been accomplished from the ministerial curriculum, It was held in the Constitutional Hall of the House of Representatives, in the presence of a number of members of various parliamentary committees, as well as the Minister of State for Parliament Affairs, Hiyam Al-Haidari.

The committee indicated, according to the statement, that it "held several meetings to evaluate the work of the government and submitted in a previous period a detailed report to the House of Representatives, in which it touched on the percentages of achievement and areas of failure," noting that "the government has not yet presented its government program, which led to a lack of coordination between institutions. different country."

And she continued, that she had submitted "a number of questions regarding a number of related issues that fall within the work of the Central Bank, most notably the negative effects of the decision to raise the exchange rate, as well as the absence of the reasons and justifications mentioned for this, especially with the increase in bank sales through the currency sale window and the possibility of filling the deficit after the increase in the price of Oil is in addition to the lack of necessary conditions to preserve the local product, and there are many exceptions to this, and a clear delay for a project made in Iraq.”

The statement said: "The stages of completion of the ministerial curriculum and the application of mechanization were discussed, in addition to the measures taken by the central bank and government banks regarding administrative reform."

The statement continued, "The committee discussed the foundations adopted by the Central Bank in classifying banks, closing banks in violation of the law, and the consequences of raising the exchange rate on the poor and middle class," stressing "the need for coordination between the government and the Central Bank to start drafting a bill for the bank."

With regard to supporting housing projects and granting loans, the committee noted the "low percentage of achievement in this area."

He continued, "All government banks are administratively affiliated to the Ministry of Finance and he has no choice in managing those banks," noting that "the government should be addressed regarding the central bank having a role in choosing the management of government banks as well as the civil ones."

And he indicated, "The banking sector in Iraq went through two important turns in 2012 and the other in 2019 led to a rise in the granting of licenses to banking companies and banks," noting that "the bank demanded from the government to automate border crossings to control the imports of the ports, whose imports are considered to come after oil in terms of Importance".

In turn, the Governor of the Central Bank assured me, "the imminent creation of an electronic collection system, which the bank has been working on since 2019, in addition to working on the digital identity that organizes the opening of an account for citizens from their homes and the transition from paperwork to the (Digital Bank) system."

In turn, the bank managers, according to the statement, "provided an explanation regarding the questions and inquiries raised by the deputies about the banking system," stressing that "there are problems facing a number of banks and the need for actual reforms."

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ARTICLE 4

Parliamentary Finance: Tax exemptions activate the local industry
08:17 - 29/06/2021
Baghdad - Mawazine News

The Parliamentary Finance Committee announced, on Tuesday, that the current tax exemptions aim to revitalize the local industry, while noting that when the tax is used incorrectly, it will negatively affect the industry.

A member of the Parliamentary Finance Committee, Majid Al-Waeli, said that "tax exemptions are justified to stimulate industry and local investments," and stressed the need for foreign goods entering Iraq not to compete with local goods.

He explained that "the committee supports the local industry and gives it privileges, including a tax reduction or exemption on some basic materials, even if it is at the expense of public revenues," noting that "the tax in many developed countries is used as a main resource for state revenues and when used incorrectly and granted to Unneeded parties negatively affect the local industry and the country's economy.

He added, "The tax law is usually in the budget law, because it is an annual law and in some cases it is approved by the Council of Ministers for some authorities that are deemed to have an urgent exemption that does not wait for the budget law," stressing that "no other authority has the right to exempt any party from tax." 

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ARTICLE 5

Parliament raises its session to next Thursday
09:13 - 29/06/2021
Baghdad - Mawazine News

On Tuesday, the House of Representatives adjourned its regular session to next Thursday.
In a statement received by Mawazine News, the parliament's media department said that "the House of Representatives decided to adjourn its session to next Thursday at 1:00 pm."

Today's session witnessed a vote on the members of the Federal Court of Cassation, which ended the first reading of three draft laws.

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