Friday, January 15, 2016
Association of Iraqi private banks hold an educational seminar on small and medium enterprises at the University of Mesopotamia
Association of Iraqi private banks hold an educational seminar on small and medium enterprises at the University of Mesopotamia13/1/2016Economy News special ....Iraqi private banks association held in cooperation with the Faculty of Business Economics of the University of Mesopotamia seminar on small and medium enterprises and the role of students in the development of these projects and assured the Executive Director of the Association of Iraqi private banks Ali Tariq said one loan and a half trillion contribute to activating the market sector and upgrading its private and that the target group is young peopleTariq said that the purpose of holding the seminar in this university has the privacy of the fact that young people fully aware his economic matters and guide young people to enter the private business and not rely on the public sectorIt is said that the Central Bank of Iraq has launched an initiative to support the market through loans and small and medium-program earlier than last year ....http://economy-news.net/content.php?id=1708 |
| -- |
Parliamentary Integrity reveal massive smuggling of funds banks operations and put the black list
Parliamentary Integrity reveal massive smuggling of funds banks operations and put the black list
Since 01/11/2016 13:07 pm (Baghdad time)
Special - scales News
Detection of the Integrity Committee member of the parliamentary Adel Nouri, on Monday, to contain the currency auction of the massive smuggling operations of state funds in addition to fit on forged bonds, while noting that the Commission has developed community banks in its blacklist.
He said Nuri's / scales News /, that "the Commission will continue to investigate the same files that have been working on them in addition to open more of the other files of corruption."
He stressed that "the sale of the currency one of the important files that contain a large and massive smuggling to file state funds in addition to cash and bonds forged and counterfeit receipts laundering by some companies."
He added, "There are civil companies and banks has been a question mark over them, and these companies will enter into the" Black List "or the black list of the Commission", Mushir that "those companies will be submitted to the judiciary."
The member of the parliamentary finance committee approved Majida al-Tamimi, earlier, that influential people are the beneficiaries of the auction and sale of hard currency reserves of the Central Bank, while suggesting to the need to replace the currency auction open letters of credit. Ended 29/4 e
1624 resolution of the issue of money laundering
1624 resolution of the issue of money laundering
1/14/2016 0:00
BAGHDAD - morning
revealed the judiciary for resolution of 1624 money laundering case through 2015, announcing the creation of a new investigative Court Office resumption Almtny.oukal judge anti-money laundering Court of economic crime in Baghdad, Iyad Muhsin ligature, in a press statement that «the issues presented to us in anti-money laundering and economic crime court in 1798 suit during 2015 », indicating that« was resolved in 1624 the cause of which remained 174 other rounded unfinished procedures investigative and will be resolved soon, »adding that« more money laundering operations occur in private banks », adding that« these operations be through an instrument called instruments of electronic clearing and the lack of balance and a financial flows that marred money laundering »the To, it announced the judiciary, from the conversion of the judicial presidential palace in the province to a new investigative office of the Court of Appeal Almtny.oukal judiciary spokesman Abdul Sattar Bayrakdar: that «the Supreme Judicial Council introduced the office judicial inquiry second in the city of Samawah belonging to the Court of Appeals of the Federal Muthanna regard to the consideration of the claims of the investigation police to the Centers for both the Republican and the message in the province», adding that «the Council allocated the presidency of the resumption of the Federal Muthanna building the headquarters of the Office of the new investigation» . T / Salah
Ooredoo : Expands Mobile Financial Services across its Footprint
Ooredoo : Expands Mobile Financial Services across its Footprint
01/13/2016 | 07:39am US/Eastern
Launch of AsiaHawala in Iraq Means Customers in Four Countries Now Benefit from Comprehensive Suite of Mobile Financial Services from Ooredoo
Doha, Qatar
Ooredoo is expanding mobile financial services (MFS) across its footprint, following the launch of AsiaHawala exclusively with Asiacell, part of Ooredoo Group, in December 2015.
AsiaHawala is the first-ever mobile money service provider to launch in Iraq, licenced by the Central Bank of Iraq. The service enables Asiacell customers to make a number of Mobile Money transactions on a daily basis, including money transfer, bill payments and airtime top-up.
AsiaHawala is currently available at 1,600 locations throughout all governates of Iraq.
With the launch of AsiaHawala, Ooredoo now offers mobile financial services in four markets - Qatar, Indonesia, Tunisia and Iraq - delivering daily services to nearly five million customers.
H.E. Sheikh Saud Bin Nasser Al Thani, Group CEO, Ooredoo, said: 'Smart financial services have the potential to change people's lives, by offering access for the under-banked and providing customers with greater control over their money. Ooredoo is deploying a full range of innovative solutions to extend the range of mobile financial services across our footprint, and we're very proud that Asiacell has launched the first mobile money service licenced by the Central Bank of Iraq.'
Ooredoo is pursuing a targeted strategy of enhancing the range of mobile financial and mobile commerce solutions for consumers and for business customers across its markets in the Middle East, North Africa and Southeast Asia, recognising the strong demand.
- END-
About Ooredoo
Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people's lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives, Myanmar and Indonesia. The company was named 'Most Innovative Company of the Year - MEA Region' at the 2015 International Business Awards.
The company reported revenues of US$ 9.1 billion in 2014 and had a consolidated global customer base of 114.9 million customers as of 30 September 2015. Ooredoo's shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Official Gazette published the parliament's decision to support his reforms and amend the investment law
Official Gazette published the parliament's decision to support his reforms and amend the investment law2016/1/14[Baghdad-where]Official Iraqi facts newspaper published a number of laws, decisions, regulations, instructions and decrees, approved by the House of Representatives and endorsed by the Presidency of the Republic.The general director of the Iraqi facts circle Muhannad Zebra in a statement to Osalh of Justice that "the salient features of the new issue [4393] property installed in farmland and orchards excluded from the settlement works of No. 49 of the 2006 Law."He Zebra also released in the newspaper "the Second Amendment to the Investment Law No. 13 of 2016 law"."The number included Resolution No. 55 of 2015 and private support of the House of Representatives and the support for the package of parliamentary reforms, in addition to a number of decisions," pointing out that "the most important statement number of instructions, is to organize the work of the supreme body of Directors' Meeting for the Hajj and Umrah No. 1 of 2015 "https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.alliraqnews.com%2Fmodules%2Fnews%2Farticle.php%3Fstoryid%3D27115&edit-text= |
| -- |
Raed al-Hashemi: delete the zeros will lead to queues in banks to replace banknotes
Raed al-Hashemi: delete the zeros will lead to queues in banks to replace banknotes
BAGHDAD - A peace Zidane
Date: January 9, 2016
Stressed economist Raed al-Hashemi, the deletion of zeros from the local currency needs to be political, security and economic stability, noting that the feminine currency will lead to the feminine economy and facilitate the process of the payments system and raises the value of the currency.
Hashemi said in a dialogue with the (Journal), that "the economic environment you need to create a thoughtful to apply the deletion process through procedures and financial and banking decisions made by the financial authority in the country ".
* raise zeros from the Iraqi currency has a benefit of the Iraqi economy?
- The process of deletion of zeros is a necessary and important step comes as part of the need for the process of administrative reform of the coin contribute -lo been correctly applied with a choice of Almnasp- time in reducing transaction costs and cash transactions in the economic process,and reduce the money supply in the country's size and to facilitate the calculations and reduce the inflating figures not to mention that the issuance of small groups will facilitate policy accounts price.
* What is the correct mechanisms that must be followed until the process of lifting the zeros?
-there are several mechanisms including the selection of the appropriate timing at which the Iraqi economy (one-sided) in a state of stability and economic environment and to create a thoughtful to apply the deletion process and this needs to be procedures for financial and banking and the decisions taken by the Authority Finance in the country, and the need to create a media and psychological community to accept such a decision by the intensive media campaigns before proceeding with implementation, and the implementation of the resolution on the stages of time and leeway enough fear of the events of confusion in the Iraqi market.
* What are the concerns of the adoption of the process of lifting the zeros?
-ary a lot economists that the process of deleting three zeros will lead to chaos and confusion in the domestic market and the spread of the phenomenon of "monetary illusion" because there are "two currencies" old and new and Sastglha traders to raise the goods and prices of goods.
as well as the fear of occurrence of chaos in the Iraqi street and stand in a new queues at the gates banks to replace the current Iraqi banknotes with those of the new banknotes. Which will contribute to the emergence of speculators on the black market, taking advantage of the chaos that will arise from the process of the currency switch. As well as there are fears of counterfeiters and (mafias) money laundering and smugglers currency who will take advantage of the new situation in the "wash" the old Iraqi dinars counterfeit and replaced by new or smuggling of genuine Iraqi dinars out of the country for the purposes of terrorism and organized crime, which will lead to lethality economic security of Iraq .
* Do you think that the lifting of the zeroes will affect the economy and social stability?
- Yes affect by reducing its currency and thus will lead to the feminine Iraqi economy and facilitate the Iraqi payments system process and raise the value of the currency at least partially slow, and will affect the process in the creation of a worker and myself technician can play a positive role in strengthening the Iraqi dinar, provided that combined with a package of measures to take coordinated and good policies between monetary and fiscal authorities and other episodes concerned the economy.
Expert: Currency exchange rate affects the import and export value
Expert: Currency exchange rate affects the import and export value1/10/2016 0:00Baghdad Joseph Zayeris known that the currency of any country depends on the performance of its economy, value, and there are several factors in this performance impact in determining this value, including the interest rate where height will attract foreign capital to the inside, and the other factor balance the country's trade Increasing demand for a particular commodity will increase demand also on its currency. In addition to the political situation factor for the country, too, the inflation rate reflects the purchasing value of the currency or the amount of goods and services that can be purchased.It measures adopted by the economic policies of the countries is the currency market management and price exchange in front of the other currencies, and in this regard stresses economist Ahmed Abrihi Ali said exchange rate affects imports and exports, it can raise or reduce the relative prices of imports (exports) to support international competitiveness or weaken it.He adds Abrihi: That's why the pressure on China to revalue its currency to become cheap imports and exports expensive exerting downward pressure on their international competitiveness and shrinking trade surplus. The best example to control the value of any currency is the measures taken by China's second-largest economy in the world to maintain a low rate of the Chinese yuan to serve their purposes in export and even dumping their products which, The United States accuses China of fabricating reduce the price of its currency to stimulate trade-offs commercial.In Iraq, the parliamentary Finance Committee announced it was looking for a project to reconsider the dinar exchange rate against the dollar with the government and central bank. He explained the Commission's decision MP Ahmad Haji: that there was a project taught by the Central Bank and the Council of Ministers, and the Finance Committee, to reconsider the dollar's exchange rate against the dinar. He pointed Haji in comments to local media that it is still a project under study and no decision, where the study Is Iraq could reconsider the exchange rate? Is it the government is in the interest of the citizen or hurt? Noting that a review of the exchange rate will be one of the government's interest, but harmful to the citizen, where would increase the exchange rate to runaway inflation, and an increase in commodity prices, and student Haji need to take it into consideration and study of the project from all aspects, before taking any decision, noting that the re Consideration will be an increase of the dollar exchange rate, a low rate of the dinar against the dollar, because the government can not raise the price of the dinar against the dollar, at a time that the revenues and expenditures in dinars to the dollar, pointing out that the increase in price of the dollar is what is the benefit to the government. Iraq is facing a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 501 trillion deficit rate of 8.22 percent. The Finance Minister Hoshyar Zebari said earlier last week in a newspaper interview that: There are several alternatives to oil, such as borrowing from international institutions, low-interest, and we did it. For example we have received help from the International Monetary Fund, and a few days ago we received billion and 002 million dollars from the World Bank, we have introduced a monitoring program on how we manage the financial and economic policy, and if we could get help more of them, as we intend to sell sovereign bonds, because the situation in Iraq this year better than last year in this regard.He said Zebari said The other option is how to raise the Iraqi dinar exchange rate, although it has the option of risk have repercussions.http://alsabaah.iq/ArticleShow.aspx?ID=107918 |
| -- |
Parliamentary Economy: The government began to address the problems of the industrial sector in accordance with the principle of "participation"
Parliamentary Economy: The government began to address the problems of the industrial sector in accordance with the principle of "participation"
Since 01.14.2016 at 10:39 (GMT Baghdad)
Special - scales News
Confirmed a member of the economic and investment commission parliamentary Najiba Najib, on Thursday, the state began to address the problem of the industrial sector through the creation of laboratories and reliable, while showed that the rehabilitation of laboratories will lead to a dependence on the production of the local level and flows into the budget with financial resources.
She said Najib's / scales News /, that "after landing steep oil prices and its negative impact on Iraq's state revenues the government resorted to develop its industrial sector, including the public companies and laboratories," adding that "the State began to address the industrial sector problem through the creation of laboratories and reliable."
She added, "The labs now and after the study and the decisions taken by the Council of Ministers began a painstaking re-qualify them to be relying on the production of the local level," indicating that "a lot of the Iraqi laboratories began to restore recovered now."
She noted, "There is a partnership between the government and the private sector by the quality of the product and the plant according to the percentage of the government and the extent of their ability," adding that "participation has become a decision taken by the federal government to all ministries and provinces" .anthy 29 quarters e
The government is working with three alternatives in order to avoid the economic crisis and the payment of salaries
The government is working with three alternatives in order to avoid the economic crisis and the payment of salaries
Editor: BK, HH 2016/01/13
Long-Presse / Baghdad
Denied Economic Adviser to the Prime Minister Haider al-Abadi, on Wednesday, and there is no intention to undermine the salaries of employees and retirees, and stressed that the government is working with three lines as alternatives to avoid the current financial crisis, while calling an expert to shift from the dinar to foreign currency being a "real constraint" on economic activity Iraqi, and carried the Finance Committee, a member of the parliamentary government, blamed for worsening the financial crisis and demanded not to take the consequences on citizens.
Abadi adviser: no intention to undermine the salaries of employees and retirees
He said the appearance of Mohammed Saleh, an economic advisor to the Prime Minister Haider al-Abadi, said in an interview to the (long-Presse), "The talk of cutting staff salaries or laid off or give them compulsory leave just rumors," denying that "the government has talked about the prejudice of those salaries."
Saleh added, "The government is working with three lines as alternatives to avoid the financial crisis faced by the country is currently estimated at guaranteed pay employees' salaries," noting that "the government is working hard to secure the needs of the fronts of the war against terrorism to liberate the land of Iraq as a job basis."
He explained adviser Abadi, that "the army and the crowd and popular Peshmerga, they were able to restore 50% of the usurped land by Daash terrorist gangs, so they deserve a lot," pointing out that "the government is responsible for the lives of four million and 500 thousand employees, and three million and 750 thousand retired , they are linked to government payments system, and it must do financial management to ensure the necessary financial sustainability by working hard day and night for the advancement of such great responsibility. "
The head of the Council of Ministers, Haider al-Abadi, denied on Tuesday (January 12, 2016), during the Cabinet meeting held in the province of Basra, "rumors" about the reduction of employees' salaries or give them leave or reduce their number, and accused "some people seeking to shuffle the cards and transmit rumors ".
Expert: should shift from the dinar to foreign currency being a real constraint on economic activity
For his part, economist Ahmed Rehn, said in an interview to the (long-Presse), that "the government will not have to cut employees' salaries or even reduced, because the central bank's reserves are sufficient to stroll things until the end of the current 2016," noting that it "includes salaries the general staff, not parliamentarians, ministers and senior officials. "
And saw Bureihi, that "the government problem lies being do not take the advice," adding that "a lot of experts and specialists have repeatedly asserted that the problem lies in foreign currency management, which constitute a real constraint on public finances, the first constraint on economic activity in Iraq."
He said economic expert, that "the government has neglected this constraint (foreign currency) instead of take care of him at this stage", calling on the government to "take note of the fact that oil supplier foreign currency intervention in Iraq, so the decline in prices leads to the problem of declining foreign currency volume in Iraq."
He Bureihi, that "the government wants to import and pay obligations abroad, and that the private sector is the other wants to import and invest abroad, which means there is an urgent need for foreign currency," stressing that "the state should be transformed from the dinar to foreign currency and manages the Iraqi economy Based on that".
Parliamentary Finance: to endure as a result of government mistakes and not take the consequences on citizens
She said a member of the Parliamentary Finance Committee Majida al-Tamimi, in an interview to the (long-Presse), "The decline in oil prices impact in all exporting countries, not just Iraq," afterthought "but the problem of Iraq that depends on oil by 93 percent versus seven percent for other revenue."
She said Tamimi, that "the other exporting countries diversified income and development funds to invest oil revenues, and the accumulation of financial reserves enabled it to cope with the current crisis," adding that "the current Iraqi government took office through September of 2014, ie at the beginning of the crisis, the collapse of oil prices, but not drawing up plans or programs to address them. "
She asked a member of the Parliamentary Finance Committee, "why the government is not working to find alternatives for the development of the economic side and avoid the current deterioration, and why not do the customs tariff which legitimized by the House of Representatives since 2010, which would have saved them added resources law", stressing the need to "government bear results not make innocent citizens pay the price for their mistakes. "
The world oil prices fell more than 60 percent since the summer of 2014 the past, where fallen from about $ 120 a barrel then, to less than 34 dollars currently.
Official Gazette published the parliament's decision to support his reforms and amend the investment law
Official Gazette published the parliament's decision to support his reforms and amend the investment law2016/1/14[Baghdad-where]Official Iraqi facts newspaper published a number of laws, decisions, regulations, instructions and decrees, approved by the House of Representatives and endorsed by the Presidency of the Republic.The general director of the Iraqi facts circle Muhannad Zebra in a statement to Osalh of Justice that "the salient features of the new issue [4393] property installed in farmland and orchards excluded from the settlement works of No. 49 of the 2006 Law."He Zebra also released in the newspaper "the Second Amendment to the Investment Law No. 13 of 2016 law"."The number included Resolution No. 55 of 2015 and private support of the House of Representatives and the support for the package of parliamentary reforms, in addition to a number of decisions," pointing out that "the most important statement number of instructions, is to organize the work of the supreme body of Directors' Meeting for the Hajj and Umrah No. 1 of 2015 "https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.alliraqnews.com%2Fmodules%2Fnews%2Farticle.php%3Fstoryid%3D27115&edit-text= |
| -- |
Rapporteur of the parliament: the financial crisis hampering legislation important economic laws
Rapporteur of the parliament: the financial crisis hampering legislation important economic laws
01/11/2016 (00:01 pm)
BAGHDAD / Ibrahim Ibrahim - the long-Presse
He confirmed the decision of the parliament Imad Youkhana, on Sunday, that the financial crisis will impede legislation some laws "mission" because of the guaranteed financial implications, what was seen as an economist that the legislation of laws to new institutions and government agencies represent an economic suicide in the presence of the financial crisis.
The decision of the parliament Imad Youkhana In an interview with the (long-Presse) that "there are some important laws that include financial implications and that the government had withdrawn to make some adjustments, including revenue monitoring body that needs a lot of money and the law of the Federal service and vote on the appointment of special grades Law," noting that "The financial crisis will impede the passing of such laws." Youkhana added that "there are other laws include the financial implications, but that it is possible legislation into law pension and social security, which supports worker and self-funded," pointing to "the importance of this law being a support worker of his money without having to spend money from the government, "pointing out that" the law is close in some paragraphs of European laws. "He pointed Youkhana that" oil and gas law is not in it any financial consequences but will bring financial and imports of the country and lack of legislation has nothing to do financial consequences but needs political agreement, "asserting that" the differences between the federal government and the province to prevent legislation. "For its part, the Economic Commission is expected to pass three laws to support the Iraqi economy during the next legislative term, while confirming that those laws do not include any financial consequences. She said committee member Nora Albjara in an interview to the (long-Presse) that "there are three important laws in the current session, but it does not include any financial implications," expected to "be passed those laws during the current legislative term." Albjara added that "these laws are all from law Special commercial agents those wishing access to agencies of international companies or open a business and agencies in Iraq to those companies, "indicating that" the second law is the law establishing the refineries, which regulates the process of establishing refineries in Iraq. "She noted member of the Economic Committee that" the third law is the Statistics Act population, which is the most comprehensive of the population being submitted studies and solutions, "pointing out that" those laws will be passed in the House of Representatives in the next stage after the resumption of the House of Representatives for his work. "The global oil prices fell more than 60% since the summer of 2014 the past, What is the effect on imports of countries that rely on it as a resource for its economy basis, including Iraq. In turn, economist Mohammed Abdul Latif Al-Ani said in an interview for the "long" that "the economic crisis experienced by the country's need to issue laws do country forgotten resources for years without resorting to borrow money from abroad and wasted again. " He added that "most of the government institutions that have been developed after 2003 was for political purposes it is unnecessary and redundant, but drains billions of dollars a year to please the people by giving them fake positions in the state." He said al-Ani, "The legislation of new laws Institutions and Government Organizations and the country is going through a severe financial crisis is economic suicide may lead the country to disintegration and collapse, so it is the duty of the government first and Parliament II plans to scrap many of the institutions, integrate and take advantage of the functional cadres to reducing its functional structure and reduce state spending. "He said the" economically developed countries Most government institutions reduced to a certain number of staff commensurate with the number of inhabitants and an estimated annual spending way that does not affect the delivery of basic services to its citizens. "He said al-Ani said" the government stay on its approach to waste money and not to activate and support the private sector to move the domestic market, puts Iraq on the brink of bankruptcy soon no more than three months at best, so the incentive to adopt an economic revolution for the restructuring of the Iraqi economy in a comprehensive manner. "
Tomorrow .. Cabinet held its meeting in Basra and his government demanding more powers
Tomorrow .. Cabinet held its meeting in Basra and his government demanding more powers
Monday, January 11, 2016
BAGHDAD / .. The local government confirmed in the province of Basra, on Monday, the Council of Ministers meeting will be held on Tuesday in the province, as demanded by granting greater powers. Said Board Member Basra originated Mansouri's "Eye Iraq News" that "the Government of Basra do not care nor the optical Street cares about the venue of the Cabinet meeting as much as bother to discuss the issue of Basra in the session," noting that "the committees of the Basra wrote a number of observations and proposals to be submitted to the President The federal government and his ministers gathered in Basra. "
Al Mansouri added that "we ask the Council of Ministers to grant wide powers to the local government in Basra to upgrade the sites to maintain service and economic," explaining that "the federal government wants to send a message from the meeting that the situation in Basra to maintain security."
The senior source revealed in the province of Basra, on Monday, that the Prime Minister Haider al-Abadi will chair tomorrow's Cabinet meeting in Basra province.
Subscribe to:
Posts (Atom)