TNT
Tishwash:
Al-Sudani reviews Rafidain Bank reform procedures with Ernst & Young
Prime Minister Mohammed Shia Al-Sudani held a special meeting on Wednesday to develop the work of government banks, in the presence of representatives of Ernst & Young for auditing and financial consulting.
Al-Sudani was briefed, according to a statement published by his media office, on the “technical and administrative procedures related to the Rafidain Bank development project, which were taken during the period following the signing of the contract with the company specialized in structuring and developing work in the banking sector.”
Al-Sudani stressed, “The need to continue intensive meetings between the Supreme Committee concerned with the project, which includes the Central Bank of Iraq and government banks, and the consulting company, in order to resolve all matters related to developing the work of Rafidain Bank.”
The statement indicated that “the Rafidain Bank development plan includes a comprehensive review and evaluation of the bank’s work, and implementing structural administrative reforms, aiming to provide a package of integrated banking services to citizens and companies, relying on advanced electronic programs, modern technology in all banking transactions, optimal use of human and technical resources, and transition to automated work, which helps the bank’s ability to meet global banking requirements.” link
A representative accuses America of obstructing Iraq’s economic openness to the countries of the world
Today, Wednesday, Deputy Chairman of the Parliamentary Economics Committee, Yasser Al-Husseini, a-----d the United States of America of obstructing Iraq’s economic openness to the countries of the world.
Al-Husseini said in an interview with the Maalouma Agency, “The United States of America stands against Iraq’s economic openness to the countries of the world, indicating that America has contributed greatly to preventing international companies from coming to Iraq.”
He added, “America stands as a stumbling block in the way of the growth of the Iraqi economy,” noting that “what Iraq has reached is due to American interference in internal affairs.”
He continued, “America does not want Iraq to be at the forefront of economically developed countries.” link
Economic: The ambiguity of the Central Bank’s dealings serves the Americans
Today, Wednesday, economic expert Mustafa Hantoush revealed the existence of ambiguity in the Central Bank’s dealings, behind which there are intentions that serve American interests.
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Hantoush said in a statement to the Maalouma Agency, “The absence of weekly bulletins on the distribution of the dollar from the Central Bank has made the process of selling the dollar more ambiguous,” noting that “the ambiguity in the Central Bank’s recent dealings regarding the file of distributing the dollar.”
He continued, “The confusion in the work of the Central Bank enabled the American side to eliminate Iraqi banking by introducing foreign banks and granting them privileges in the country,” pointing out that “80% of the dollar is distributed to foreign banks operating in Iraq in a step called presenting banking work on a platter.” Who went to America and foreign banks?
It is noteworthy that the Central Bank authorized the work of three exchange companies inside airports, neglecting hundreds of companies in a decision that many considered a flop, which resulted in the decision increasing the US exchange rate against the Iraqi dinar to more than 150 thousand dinars . link
For the first time, the Iraqi state’s non-oil revenues record an increase of 11%
The “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations announced on Thursday that for the first time, the non-oil revenues of the Iraqi state recorded 11% of the total revenues, with oil revenues falling below the 90% barrier.
A report issued by the institution today stated that non-oil revenues for the first five months of the current year amounted to 6.24 trillion Iraqi dinars, while oil revenues for the same period of the current year amounted to 48.4 trillion Iraqi dinars.
According to the report, tax revenues on income and wealth increased by 118%, while revenues from commodity taxes and production fees increased by 285%.
The institution’s report indicated that fee revenues increased by 50%, while oil revenues increased by 6.4%.
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The continued reliance of the Iraqi state on oil as the sole source of the general budget is a dangerous matter in the face of global crises that occur from time to time due to the impact of oil on them, which makes the country turn every time to cover the deficit through borrowing from abroad or domestically, which thus indicates the inability to manage the state’s funds effectively, and the inability to find alternative financing solutions. link
Revealing the volume of trade exchange between Iraq and Saudi Arabia
The Saudi-Iraqi Business Council estimated the volume of trade exchange between the two countries at 5 billion riyals, with an annual growth of 12%, according to the head of the council, Mohammed Al-Khorayef.
The council stated in a report that the council is working to develop Saudi investments in Iraq, in conjunction with the interest of the private and governmental sectors in the Kingdom in investing in Baghdad.
It indicated that Iraq is preparing to propose a law to protect Saudi-Iraqi investment and discuss it before Parliament in preparation for its approval in the coming few months, to enhance economic cooperation between the Kingdom and Iraq, according to a statement issued by the Federation of Saudi Chambers.
In December of last year, Saudi Arabia and Iraq signed a partnership agreement in the field of private sector industrial investments, at a time when the Kingdom’s ambassador at the time confirmed that there were many investment opportunities being studied.
Last November, Saudi Minister of Investment Khalid Al-Falih also announced that the Kingdom is studying the launch of the first free economic zone with Iraq, in the border area in Arar, expressing his hopes that the zone would be the first free economic zone with a neighboring country without taxes, fees or entry visas to serve investors in both countries.
5 billion Saudi Riyals equals 1,333,082,700.00 US Dollars link
Source: Dinar Recaps
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Tishwash:
this is what it looks like when they are there celebrating
Karbala suspends official working hours for these days
Today, Thursday, the holy Karbala Governorate announced a three-day official holiday, coinciding with the anniversary of the martyrdom of Imam Hussein, peace be upon him.
The provincial council stated in a statement received by “Iraq Awaz Yerfer” that “the council decided to suspend official work on Tuesday, Wednesday and Thursday, on the anniversary of the martyrdom of Imam Hussein, peace be upon him.” link
Iraq and the Inter-State Transformations in the Relationship with Washington
Prime Minister Mohammed Shia al-Sudani was not seeking, during his recent visit to the United States, a media glare or a souvenir photo at the White House as much as he was seeking to bring about a qualitative shift in the relationship between Baghdad and Washington
A profound transformation in this relationship and to go beyond the stage of focusing on the security file that has dominated the relationship since 2003, and to move towards multiple partnerships in several fields. However, in the beginning, there is an urgent need to restore confidence between the two parties in a way that achieves the strategic interests of Iraq.
There are still sharp differences between the two parties, the most important of which is in the method of performance and management of files.
It seems that Mr. al-Sudani seemed more willing to reach an understanding and present conditions that were not previously proposed in drawing up the relationship between the two parties, including financial guarantees for loans and other financial exchanges that were not clear in the exchange between Iraq and America. link
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Source: Dinar Recaps
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