Extension of official hours in all passport departments in Baghdad and the provinces


Information / Baghdad ..

The Directorate of Civil Status, Passports and Residency in the Ministry of Interior announced on Sunday the extension of official working hours in all passport departments in Baghdad and the provinces.

The Directorate said in a statement received by Al-Maaloumah, a copy of it, that “the official hours in all passport departments in Baghdad and the provinces will be extended from 8 am to 6 pm.”

She added that this measure comes to “facilitate the procedures for citizens, and in order to control the momentum witnessed by the Directorate of Passports, and to achieve the largest number of transactions of auditors.”

تمديد الدوام الرسمي في جميع دوائر الجوازات ببغداد والمحافظات


Key Card: 6.8 million people with local cards and MasterCard


Key Card

Economy News Baghdad:

“We, as an electronic payment company in Iraq since 2007, have more than 6 million subscribers (local card) and about 800,000 issued MasterCard cards,” said Ali Abdul Hussain Al Saadi , president of Global Card Company .

He added in an interview published in the magazine “Union of Arab banks” seen by “economy News”, “The banking sector in Iraq has made significant progress in this area, especially thanks to the policies of the Central Bank of Iraq on the process of settling salaries and pensions of government employees in banks, Can withdraw his salary by bank cards (one million and 200,000 cards in Iraq) since 2017. “

He stressed that “the number of employees are now benefiting through the process of settling their salaries (instead of cash) of loans of all kinds, and the rest of the banking services that meet the requirements of contemporary.”


Minister of Finance and Chairman of the Development Bank discuss the role of the private banking sector


Economy News Baghdad:

Deputy Prime Minister received for Economic Affairs and Finance Minister of Iraq , Fouad Hussein, at the headquarters  of the Presidency of the Council of Ministers in the capital of the Iraqi Baghdad, Engineer Ziad Khalaf Abdul Chairman of the Bank of  the International Development and board member of the Union of Arab Banks, were presented prospects for economic and financial situation  in Iraq, and the role of the sector The Iraqi privatebanker in supporting the march of development and development in the country.

Hussein stressed « the attention of the Iraqi authorities concerned with the support of theIraqi banking sector , the efforts of the private and cooperation with the Union of Arab Banks on more than one level (training and meetings) , where the fact that the private banking sector , effective and serious contributor».

For his part , Engineer Khalaf confirmed Abdul “that the International Development Bank ,which is a banking interface  Iraqi special, but it is in the process of infrastructure, according to the latest enabling technology and cognitive standards,  as well as therehabilitation of the human cadre to match the requirements of the banking business ofinternational», referring to the «looked forward to  banking activities Economic andinternational level in cooperation with the relevant government agencies in Iraq,  led by the Prime Minister, the Ministry of Finance, the Central Bank and the Association of Iraqi private banks »



The Islamic Bank of Iraq adopts the IMAL system


Economy News Baghdad:

The Islamic Bank of Iraq’s Islamic Investment and Finance Bank, known as the Bank of Iraq’s Secretary of State, signed with Bath Solutions on the core Islamic banking platform of the IMAL system, which it selected from a range of systems to manage its digital banking operations in Iraq. Meet market requirements and provide a global banking experience for its clients.

Mr. Kamal Suhail Abdullah, Chief Executive Officer, Bank of Iraq, said: “We selected the IMAL system for being able to help us comply with Islamic law, to adapt easily to the dynamic and complex Iraqi banking sector and to meet the financial needs of our clients in a safe manner. We are confident that this system will enable us to respond to regulatory and emerging compliance requirements in this sector with unparalleled speed. “

Chairman of the Board of Directors and Chief Executive Officer of Bath Solutions Mohammed Al Khatib said, “The Bank of Iraq is seeking to be a leader in this sector thanks to its regional development and future perspective. Is characterized by high scalability, stability, flexibility and low risk.


The Association of Private Banks holds a “Stress Test” course for bank staff



Economy News – Baghdad

The Iraqi Private Banks Association on Sunday held a “stress tests” session for a number of employees of private and government banks in order to increase the efficiency of employees and teach them the methods of stress tests and their types and how to apply them in banking.

The course was attended by 51 trainees working in private and government banks for five days at the headquarters of the Association in Baghdad, under the training of Jordanian professor Osama al-Fandi, who holds a doctorate in business economics.

The aim of the course is to provide participants with the necessary knowledge on the nature and importance of scenario analysis and stress testing in banks and both types, in addition to providing them with principles, fundamentals, requirements and relationship, and how the macro prudent indicators can affect economic capital.

The training program also adds stress testing methods, types and how to apply them in banking, which will give the trainees a good background with the implementation of the endurance test in the bank profile in credit risk, market and operational risks.

The main objectives of the training are: banking supervision, risk management, credit risk and statistics. The main areas of the training were: pressure tests, pressure and risk tests, pressure tests, and the application of the stress test report.


Minister of Finance: Baghdad continues to pay the salaries of Kurdistan


Minister of Finance Fouad Hussein, assured the Kurdistan region that Baghdad will continue to send their salaries, while stressing that the ministry is working to stabilize the share of the province of the budget for the next year from now.

“The level of relations of the region with Baghdad is good and we must conduct more dialogue and understanding between the two sides in order to address the remaining problems and intractable, such as the oil and budget and Kurdish areas, as the efforts are continuing to treat them,” Hussein said in a statement.

Hussein confirmed that “the budget of Kurdistan this year will remain as it is and we are working to stabilize that in the budget next year and sent by Baghdad in the same format of the current budget, and we have conducted a number of meetings for this purpose.”

He continued: “We hope to improve relations more and mutual understanding and dialogue to resolve and address the outstanding issues, and will resume talks after the formation of the Kurdistan Regional Government directly.”

The Kurdistan government refuses even to abide by the budget law of 2019, which provides for the delivery of Baghdad 250 thousand barrels of oil Kurdistan daily for export through the national marketing company, “Sumer” in exchange for payment of salaries of employees and allocate more than 17% of the budget value of the region.



Embassy of Japan shows a $ 1 billion loan to Iraq


Editorial date:: 2019/6/16 13:49
The Embassy of Japan to Iraq, the Japanese Agency for International Cooperation (JICA) loan to Iraq worth about one billion US dollars.
“The Ambassador of Japan to the Republic of Iraq (Naofumi Hashimoto) and the Advisor to the Prime Minister for Finance and Finance Minister of the Republic of Iraq, Fuad Mohammed, today signed and exchanged notes in Baghdad on the provision of the Japanese yen for a refinery development project ($ 1 billion), which is one of the largest amounts allocated by the Government of Japan to a single loan project in the Middle East and North Africa. ” 
“This project will increase the production of oil through the establishment of a new refinery (complex catalytic cracking of fluids), in the refinery of Basra present.”
“The project aims at increasing the quality of oil products and bridging the gap between supply and demand. In addition, the new plant will reduce the environmental burden by introducing the diluted sulfur desulfurization unit with the transfer of technology.” 
“Following the implementation of this project, the refinery of Basrah, the only refinery that produces high value added petroleum products such as gasoline and diesel, will become an international environmental standard and, ultimately, it will contribute to the economic and social recovery of Iraq.”
The Ministry of Finance announced today the signing of a loan with the Japan International Cooperation Agency (JICA) for Iraq worth about one billion US dollars and a period of 40 years, including 10 years grace and is repaying the loan in semi-annual installments over 30 years and the interest rate is 0.2% fixed and the purpose of signing the loan To develop Basra refinery, which will contribute to improving the quality of oil derivatives in addition to increasing production capacity to meet Iraq’s needs of these derivatives