Wed. AM/PM TNT News Articles 11-3-21



Determining the date for forming the Iraqi government..and clarification on the interference of the reference

An informed political source said, on Tuesday, that matters are heading to a final agreement to form the next government after the approval of the election results, denying the circulating news about the reference’s interference to unify positions between the coordination framework and the Sadrist movement. 

The source told NRT Arabiya, (November 2, 2021), that “the Sadrist movement will begin to form the government after the election results are approved,” noting that “the coordinating framework will not have any role in the next government.”

He added, “The Sadrist movement is secretly negotiating with all political parties, except for the coordination framework,” noting that “the progress headed by al-Halbousi and the Democrat headed by Barzani showed their willingness to support the movement’s candidate for prime minister.”

The source indicated that “there are two options in front of the coordination framework, either to participate with the next government as a “margin” or to be in opposition,” ruling out “at the same time, choosing the prime minister from the coordination framework.”

He continued, “The news circulating regarding the intervention of Sistani’s son, Muhammad Reda, to unify positions between the coordination framework and the Sadrist movement is completely false, and there is no attempt by the reference in this regard.  link

Mazhar Saleh: In early 2022, the file of {Kuwait Compensation} will be closed.


The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, yesterday, Tuesday, that Iraq will end the file of Kuwait’s compensation file in early 2022, while revealing that the volume of financial compensation paid by Iraq during the past three decades exceeded $52 billion.

Saleh told the Iraqi News Agency (INA): “Based on UN Security Council Resolution No. 692 issued on March 20, 1991, it was decided to establish the so-called United Nations Compensation Committee (UNCC) to deal with compensation claims resulting from Iraq’s invasion of Kuwait in August 1990, as Iraq had Payment of compensation to international and Kuwaiti individuals and entities totaling approximately $52.4 billion, according to compensation lists approved by the United Nations Compensation Fund.

He added that “Iraq has recently paid $490 million of the compensation amounts approved by the United Nations Compensation Committee, and will work to pay the remaining amount of the total compensation estimated at $629 million, early next year 2022, to close the compensation file permanently.”

In this context, the Committee of Financial Experts revealed that the Kurdistan region must pay $297 million in compensation as decided by the United Nations Committee for Kuwait.

The committee’s letter addressed to the Prime Minister’s Office in the Kurdistan Regional Council of Ministers last August, of which “Al-Sabah” obtained a copy, stated that it had replaced the International Advisory and Monitoring Board (IAMB) since 2011 under UN Security Council resolutions to oversee oil and gas exports. Natural and oil derivatives from Iraq, monitoring them and ensuring payment of the deduction percentage mentioned in the Council’s resolutions related to Kuwait’s war compensation.

She added that the committee’s board of directors issued its resolution No. 276 of 2017, which includes amending the deduction rate from 5% to 0.5% in 2018 and 1.5% in 2019 and 3% for 2020.

And she added that the reports of the international auditing company Deloitte approved by the Kurdistan region indicated that in 2018 it exported 121 million and 729 thousand and 397 barrels at a price of 57,607 dollars, and 158 million and 512 thousand and 960 barrels at a rate of 52,676 dollars in 2019, and 158 million and 145 thousand and 412 barrels in 2020 at a rate of 28,100 dollar.  link


Al-Rasheed directs its branches to sell building bonds to citizens

Today, Wednesday, Al-Rasheed Bank directed its branches to directly sell building bonds to citizens wishing to purchase.

And the media office of the bank stated in a statement received by the agency (Oula News): “Al-Rasheed Bank directed its branches to directly sell (construction) bonds to citizens wishing to buy and set its instructions regarding the amount, interest and the purchase mechanism.”

He added, “The instructions included specifying a bond worth (500,000) thousand dinars with interest (6%) to be paid to the customer every six months for a period of two years, and a bond amounting to (1,000,000) with annual interest (7%) paid every six months for a period of four years.”

He pointed out that “the person, whether (naturally or morally) wishing to purchase, has the right to submit a direct request to the bank, accompanied by the original tariff documents, in return for the bank giving the customer a receipt for the amount he paid to purchase the bonds  link

Source: Dinar Recaps

Al-Kazemi’s advisor: Iraq is entering the era of renewable energy

Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, said on Tuesday that Iraq has entered the era of renewable energy.  

 Saleh explained that “Iraq is facing difficulty in meeting its energy needs generated from conventional fuels, while the world has entered the fields of clean energy, meaning there has become difficulty in providing energy from conventional fuels due to the historical accumulation and increased demand.”  

 He added, “Iraq is practically among the ten countries in the world, it is the most supplier of the sun, and therefore it is able to produce energy from it,” returning the initiative of the Central Bank “is important and qualitative to encourage solving the energy problem and keeping pace with the world in this field.”  


 The Prime Minister’s advisor indicated that “the government’s policy on electricity is moving forward, as it has plans to provide energy and investment,” noting that “Iraq entered into importing electricity and connecting with neighboring countries to help the national grid, as it entered the era of renewable energy, that is, alternatives to electricity and its production. from sources other than oil and gas.  

 He stressed, “the necessity of ending generators as they pollute the environment,” noting that “the government is working to provide electricity and improve the reality of equipment through three sources: investing in electricity, importing it from neighboring countries, and generating it from renewable energy.”  link

Source: Dinar Recaps


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