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 |
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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.
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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= |
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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 |
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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= |
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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.
IMF Managing Director Approves a Staff-Monitored Program for Iraq
IMF Managing Director Approves a Staff-Monitored Program for Iraq
January 12, 2016
The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP)* for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015 (see Press Release No. 15/509).
Iraq is facing a double shock arising from ISIS attacks and the sharp drop in global oil prices. The conflict is hurting the non-oil economy through destruction of infrastructure and assets, disruptions in trade, and deterioration of investor confidence. The impact of the oil price decline—already felt in 2014—intensified in 2015, affecting the budget, the external sector, and medium-term growth potential. The authorities are responding to the crisis with a mix of fiscal adjustment and financing.
To help address the present and urgent balance of payments and budget needs triggered by the ISIS attacks and the collapse in oil prices, the authorities have also requested an SMP to establish a track record of policy credibility to pave the way to a possible Fund financing arrangement. Under the SMP, the authorities will implement fiscal consolidation that will contain public expenditure in line with available revenue and financing, and aim to reduce the non-oil primary deficit by US$20 billion or 12 percent of non-oil GDP between 2013 and 2016. Under the SMP, agreement has also been reached on measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism (AML/CFT), and financial sector stability.
The IMF has assisted Iraq in strengthening economic institutions and in providing advice to the government on economic policies and reforms for more than a decade. IMF staff will work closely with the authorities to monitor progress in the implementation of their economic program. In addition, the IMF will continue to provide technical assistance to support Iraq’s capacity-building efforts and its reform program.
Zebari, representative of the World Bank discuss procedures for loans provided to Iraq
Zebari, representative of the World Bank discuss procedures for loans provided to Iraq
Economy | 11 January 2016
BAGHDAD / Treasures Media -
Finance Minister Hoshyar Zebari discussed on Monday with the World Bank representative in Iraq, Robert Abu quality procedures for the loans provided by the Bank of Iraq.
A statement by the Ministry of Finance received (Treasures Media) a copy of "Zebari met with World Bank representative in Iraq During the meeting, they discussed cooperation relations between the government and the World Bank and discuss measures to loans provided by the Bank of Iraq, which include loan reconstruction and rehabilitation of the liberated areas of terrorism Daash and to provide assistance in key sectors and vital to achieve stability and to ensure the return of displaced persons and displaced persons.
"The second loan includes financing of development policy to support the 2016 budget.
Disclaimer are reviewing all the comments, published in only after approval. And it reserves the agency Treasures Media the right to remove any comment at any time, for any reason, and will not publish any comments that includes abuse Ookhroja about the subject at hand, or that includes the names of any persons or deals with stirring to dredge sectarianism or racism hoping comply with a sophisticated level of the comments as they express the progress and the culture of the agency visitors note that the comments reflect the owners only.
Iraq sends a memorandum to the IMF expected decline in foreign reserves in 2016
Iraq sends a memorandum to the IMF expected decline in foreign reserves in 2016
Since 01.13.2016 at 08:54 (GMT Baghdad)
Follow-up - the balance of News
Iraq said in a memorandum to the International Monetary Fund, he plans to finance the deficit in its balance of payments by drawing on foreign reserves, including make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.
The Iraqi government said under the program approved by the IMF as a precondition for the loan that is expected to reach a balance of payments deficit of $ 14 billion in 2015 to shrink to $ 11 billion in 2016.
Iraq, said the estimated gross domestic product will grow by 1.5 percent in 2015 and 10.6 percent in 2016 to increase its oil production while oil prices fall to a deficit in the budget will result in a 15 percent of GDP in 2015 and a deficit of 10 percent in 2016 ended 29/4 e
Welcome to Iraq Finance 2016
Welcome to Iraq Finance 2016
7-8 March, 2016 Beirut, Lebanon
2016 is a pivotal moment for Iraq’s strategic efforts to sustain economic progress and develop new financing opportunities. The country’s government is facing up to the long awaited structural and administrative reforms which, when implemented, will reveal the immense investment potential in an economy poised for expansion. Iraq’s economy is proving to be remarkably resilient, demonstrated by the increased focus on providing security and promoting transparency. The country is opening up for privatisation and is offering new opportunities for foreign direct investment across the industries, particularly seeking international partners to modernise its financial services infrastructure. In addition, as the country is becoming less dependent on the oil revenues, it seeks to establish new partnerships to deal with a number of urgent fiscal and political issues and fund infrastructure projects to boost the oil and gas, electricity and transportation projects. In an effort to open the market, demonstrate its commitment to development and attract investors, Iraq is set issue USD 2 billion worth of international bonds in 2016 under the World Bank guarantees.
The Iraq Finance 2016 conference gathers together all major stakeholders involved in directing the economic development of Iraq towards greater growth and stability.
The Opportunity
Hear from the highest ranking Iraqi officials
Iraq’s banking and financial industry, risks and opportunities
Network at a high level
Discover new business niches
Seal deals with top decision makers
Keynote speakers of Iraq Finance 2016
Ali al-Allaq
Governor of the Central Bank of Iraq
Dr Sami al-Araji
Chairman, National Investment Commission
Hamdiyah Al-Jaff
President & Chairman of Trade Bank of Iraq
The deterioration of the economic situation in Mosul dire
The deterioration of the economic situation in Mosul dire
1/13/2016 0:00
After the closure of factories and warehouses
Mosul Sunrise Maher
eventually become Mother of Two Springs, which was home to about one million people live in the good economic situation and the openness to the outside world, are now suffering from scarcity of resources and lack of jobs and increasing the scope of sanctions and harsh public. Also, the communication between the residents of the city and with the outside world has become very difficult and holds many notification.
Collapse of morale and psychological fracture suffered by herds «Daash» terrorist, as a result of successive blows and victories achieved by our security forces, the elements that have become was confident that the end has become very close with the continuous shrinking of the space occupied territory, led to the asylum leaders of the Mughal Era to transform or Rabiein to a large military barracks and stores weapons and materiel.
According Mousliyn, the organization «Daash» took over most of the laboratories and factories scattered in the city pretexts and arguments different around to stores of weapons and gear or plants for the manufacture of containers and booby-trapping wheels, arguing that with the siege imposed on the city and stop these labs, the unemployment rampant almost entirely in faded economic activity, is no longer one sees movement in the markets, which are free of shoppers.
stresses sources that «Aldoaash» closed (about 402 ) plant and a factory distributed among the general Nineveh province and its Mosul orders by the leadership of obscurantist organization.
Sources indicate that some of these plants and factories owned by industrialists and traders of minorities and other components were confiscated on the grounds that they go back to »Kfar» and became among the «state property», arguing that predominantly turned to stores of weapons and ammunition and plants for the manufacture of explosive devices after stealing all its contents.
says Mr. David Said, who owns six plants for Tippy, milk and sweets distributed in the industrial area, North side of Mosul, said that «the actions of the elements of the crime exhausted the people of Mosul and caused significant them material losses After the confiscation of factories and laboratories that were moving the local economy and produce food items distributed among the shops Mosul and covers the need for their markets as well as they once provided Muhanna a large number of people of the province ».
and escalate a state of anxiety and discontent largely by the people of Mosul as a result of the collapse of the economic side after being captured Daash wild herds and drop administrative fully from Baghdad. He complained a large number of people of the city of worsening living conditions and lack of services almost completely what led them to follow the primitive methods for the conduct of their lives haphazard, while waiting for the liberation of those gangs before growing humanitarian tragedy.
It is believed by many observers need to move quickly in order to liberate the city and save the trapped population, especially that of our armed forces, which increased the moral status of its members has regained the lead in the case against the horror and refraction suffered by «Aldoaash» after receiving a fatal blows and great losses on the battlefield.
Farewell rentier economy in 2016
Farewell rentier economy in 2016
Monday, January 11, 2016
Farewell rentier economy in 2016 Farewell rentier economy in 2016
The invitation to bid farewell to the rentier economy in 2016, and the mean necessarily initiate change societal formations in our country to the formations controlled by the relations of production, but the question here is how this will be managed profiles that are currently represented by rent-seeking society?
How can they leave their relations rentier with the mother country and is unable to weaning, at a time when still parasitic class that matured in the previous stages which enshrined in the years after the change benefiting from the proceeds of the state through its influence and its influence on government institutions?
The concept farewell rentier economy does not mean the transfer of sovereignty and power of the state to the parasitic class and then have the rents and the parish, and those who believe and shareholders that the rapid transition towards a market mechanism without controls will contribute to overcome the current financial crisis, they are pushing for crystallization rents in another for the benefit of the parasitic class to the poor account.
as The concept of the rentier state does not stop at «the adoption of the state on one source of income, which is often a natural» but extends to the acquisition of the ruling authority on this source, which is often a monopoly on the legality of the possession and the legality of its distribution, and therein lies the paradox Vlsaleh of went bank loans backed by the Treasury State over the past years and how much ?, estimated monetary bloc, which benefited the powerful actors size? And in favor of central bank sales during the previous twelve years? It is those who benefited from financial corruption and mismanagement of the reconstruction projects ?, may be the answer here is that the loans went to support the real sector and the central funds went «to finance foreign trade», but the regulators and the relevant authorities have not been able to follow the movement of these loans toward its goals, which ranged between (billion to 100 billion dinars per loan), which was mostly of the share or backed by influential parties or individuals window members are proficient to provide gifts and gifts. Worse still, some of these loans became hopeless of debts on the grounds that the projects were destroyed in the territories occupied by Daash or in nearby areas, the projects did not show originally for the presence of, or under the pretext of the stoppage of work due to transportation routes interruption, or exposed to weather conditions or epidemics or interruptions of electrical supply lines or the like, as she was some dollar selling funds that mature now in accounts and deposits outside the country escape for the benefit of individuals and groups were able to turn the corruption sell the currency readily file, at the time ranged from the dollar in the parallel market rate at 1250 dinars rate The auction Central 1166 dinars, as well as on the sale of imported goods at the parallel market.
and thus was able to these individuals or entities influential reap royalties from the edge of the corruption that was not limited to what was produced by poor implementation contracting and which were the preserve of kin and the owners of loyalties, then we are now over the bourgeoisie made by the previous stages due to financial mismanagement, corruption and bureaucracy, and is intended for this layer to lead the transition from a rentier economy to a diversified economy revenue and is still parasitize the government apparatus! Thus, the middle class and below from poor layers, have to bear the brunt of this shift and the burden of austerity at the same time.
From this point should be on those in charge of this transformation, which is dictated by the necessary years of plenty since, should be aware that the economic diligence means inventing ideas in scarcity including not mortgage the economic potential of the country, however, the parasitic classes does not hurt the poor classes, everyone knows that what has happened in the country from crises successive was not due to interventions and internal and external conspiracies and by, but was and still is caused by a rentier society lineup where piety loyalties relations and nervousness, it is necessary important to leave the rentier economy as a whole, it is clear that the attention is focused on diversifying the sources of national income, but omits other type of rent, called «the proceeds of sovereignty» resulting from internal sources for the activities of the state due to the misuse of public money and the proceeds of financial speculation, as are the pursuit of profit without any effort, across snooping on the proceeds of services and support programs for the productive sectors and this is what we expect of monetary mass to be launched by the central bank, amounting to about six trillion dinars for banks specialized civil and banks, especially that leaks talked about the inability of these banks to make these loans electronically as I want it, and will be adopted the traditional ways in which marred a lot of corruption in the granting of loans, and therefore will go this money also went elsewhere for the stomachs of influential and payers donations and gifts.
and the fear List from the sale of public companies for the benefit of capital, which matured in the years of corruption .. Accordingly, the awakening that seized the mind the administrative state to diversify sources of national income, need to be the conscience of a national do the national strategy to combat corruption promised by the government program and is pushing for legislation to prevent drug users in the policy of using their influence in the government apparatus, and put an end to the intrusion of the beneficiaries on the proceeds of the state .. Otherwise, the departure of the rentier economy will be pure logo price is paid by the poor in a time of austerity, without change in the form of rent-seeking society in which it will continue to sectarian loyalties and Altakndqat and grow up in it Alotfelln food on the account and the poor at the expense of the future of social justice.
The adoption of the electronic system in the collection of the profession of the announcement in Baghdad fees
The adoption of the electronic system in the collection of the profession of the announcement in Baghdad fees
History of edits:: 2016/1/12 12:35
[Baghdad - where]
the secretariat of Baghdad announced its dependence on the electronic system in the collection of advertising profession of taxpayers who engage in commercial activities in the general areas of the capital Baghdad fees.
According to a statement of the Secretariat of the Agency has received all of Iraq [where] a copy of "the secretariat of Baghdad decided the electronic system adoption in the collection of professional fees and advertising provided by the law and municipal wills No. 130 of 1963 of taxpayers who engage in profitable business activities across the capital Baghdad areas."
He added "The secretariat of Baghdad prepared electronically program for the collection includes a database of names and numbers of taxpayers and the nature of the business and its location and the amount to be paid to the Department of Municipal concerned under official receipts and special characters."
He said the campaign collection will be launched early next week and include the first phase of the locality of 101 in the municipality of Rusafa center and locality 714 in Bourne and the locality of 564 in the second chest municipality and the locality of 701 in Baghdad and the new locality of 324 in Adhamiya and the locality of 321 in the people and the locality of 521 within the chest municipality first and the locality of 925 in the Karrada next Rusafa.
"" The shops Other include 421 in Kadhimiya and the locality of 222 in Karkh Center The locality of 842 in the session and the locality of 821 in the rational and the locality of 432 in the torch and the locality of 665 in the Mansour.
"She pointed out that" the secretariat of Baghdad began adopting a number of measures to increase financial revenue in line with the economic reality and the low oil prices through activation of the collection of the profession and advertising fees and benefit from these funds in increase the momentum of the services provided to citizens and to begin the implementation of a new and important projects ".anthy
Parliamentary Finance reveal closely monitoring the formation of the Federal Revenue Authority
01/09/2016 BAGHDAD / JD / .. the parliamentary finance committee, announced its intention to discuss a number of important laws, notably the formation of the Federal Revenue Authority control law for submission to the presidency of the parliament for approval.The decision of the Committee MP Ahmad Haji Rashid told / JD /: The committee will discuss the package of laws pertaining to the financial and economic policy in the country including the law on 22 the salaries of state employees in the public sector and the law of financial management and public debt and reconsider it.He said as well as the project of monetary policy of the Federal Government and the law of the formation of monitoring fiscal revenue of the Federal Commission Law, according to came in the Article 106 of the Iraqi Constitution, pointing out that these laws yet to be completed within the Finance Committee will be submitted to the Presidency of Parliament to read them and vote on them in the coming sessions. / ended / 8 /http://translate.google.com/translate?hl=&sl=ar&tl=en&u=http%3A%2F%2Fwww.dananernews.com%2F&sandbox=1 |
Border crossing points linking electronically
Border crossing points linking electronically1/11/2016 0:00Baghdad Isra al-Samarrai Najaf - Hussein Kaabi,in order to increase the financial resources of the state and facilitating the entry of travelers and exit of goods after the simplification of procedures, embarked on the Ministry of Communications to link border crossings electronically.According to the director of telecommunications and postal company ministry Saleh Hassan Ali in a statement »Sabah», the company embarked on a project styled devices Instant photosynthesis to provide telecommunications and informatics movement between the contacts Shatt al-Arab complex and port Shalamcheh border in the province of Basra in order to provide telecommunications services, as carried out by the technical and engineering staff in contacts Basra Directorate.He emphasized the seven beams of light within several tracks reform, namely: ( Andalus Hamdan Qurna, Zubair Shatt al-Arab Nasserite Shalamjah), as it has been linked units Instant kind of (E1) for the project with the draft international access gates. On the other hand, director of the company that said the Directorate has set up and operation of the two units flashlight batteries the E1 within the course of contacts Andalus Abe Fertile complex in favor of a unified national card, especially after the opening of the single card project in hand Siba in Basra.He added that the company has coordinated with contacts and a Wasit circle to implement a project to extend optical cable with a capacity of 24 Rite of light in the district of Badra border to extend allocated by passing cable pipes Aldeorlaan the private transfer of telecommunications and information services and high capacity for Internet service insurance and communication between Wasit and other provinces province.In Najaf, discussed the environmental impact of communications and microwave towers Directorate Electromagnetic in humans and the environment during a scientific symposium in which present Bassem al-Mayahi, a professor of the Faculty of Science at the University of Kufa.He Mayahi during his lecture: «hardly empty house of these waves the existence of radio, television, computer and mobile phone devices».He said these waves move in a vacuum and the movement of energy from the source to the future, which vary depending on the frequency and energy to ray ionizing and non-ionizing.He Mayahi that ionizing radiation dangerous because their frequencies are high, including the x-ray and gamma, either non-ionizing radiation which is used in devices that we use such as radio and mobile phones and wireless are non-hazardous, But her damaged if misused.refers Mayahi that the studies concluded that high exposure to electromagnetic radiation doses cumulative levels may cause brain disease and cancer, so the international standards for the use of devices that rely on these radiation to reduce the harm caused mode.He pointed out that he did not proven scientifically cancer incidence brain because of exposure to electromagnetic waves, but these standards developed to steer clear of injuries because of it.He revealed the existence of studies also link between electromagnetic waves, heart disease and blood vessels, diseases of children, but there are those who reduce the risk of these injuries to not provable scientifically and because the human body is able to cope with different temperatures up to three degrees.For his part, the teaching disclosed in the Faculty of Engineering, University of Kufa Ammar virgins for statistics in Germany indicate that seven thousand people develop cancer each year because of communications towers.He said Iraq in in 2013 it had 12 000 communication tower, a proposal that is reducing the number of towers through the development of common Towers for more than a communication company and be out of the cities and residential areas to reduce the harm caused, in addition to the awareness of citizens and educate the roads safer for the use of mobile phones, as it is possible to export companies mobile phone bulletin Guidelines for the use of mobile phone safe manner and distributes this newsletter with lines they sell.As virgins called for better national operator to reduce the use of mobile phones and exposure to electromagnetic waves.http://www.alsabaah.iq/ArticleShow.aspx?ID=108026 |
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