Parliamentary Security decided to postpone the questioning of the Minister of Defense until further notice hearing

History of edits:: 07.31.2016 18:38 • 

{Baghdad} Euphrates News of the Security and Defense Committee decided to postpone the parliamentary questioning of the Minister of Defense until further notice hearing.

A statement by the Ministry of Defense agency {Euphrates News} received a copy of the “Committee for Security and Defense parliamentary hosted this morning Defense Minister Khaled al – Obeidi, at the headquarters of the House of Representatives During the meeting , a frank dialogue on issues of concern to the construction and development of the military establishment and the achievements during the period years, as well as examine the problem of special interrogation minister. ” 

the statement said that” the Commission decided , based on the surrounding country of objective conditions in the fight Daash, intensive preparations carried out by the Ministry of Defence for the Liberation of the city of Mosul, and the importance of continuing the momentum of the fighting and the achievement of the armed forces on the ground, as decided request to the presidency of the Council of Representatives to postpone questioning session until further notice and until the creation of the appropriate objective conditions. ” 

The head of the House of Representatives Saleem al – Jubouri had drawn during the Saturday session that the Council has set Monday as the date for the interrogation of Khalid al – Obeidi , the defense minister , ” noting that ” The Council received a formal letter from the Ministry of Defence indicated it to be al – Obeidi , who was an official envoy to the United States, see after returning to questions submitted to it and demanded select a new date to attend to answer questions. 

the Council also rejected the request for postponement of the process of questioning and defense minister in the House of Representatives on be on time Mahdd.anthy


Urgent newborn: amounts donor conference will be divided on the four doors

History of edits:: 07.31.2016 19:10 

[Wayne-Baghdad] , 

spokesman for Prime Minister Saad al – Sabri said that ” the amount of the donors ‘ conference in excess of two billion dollars will be spent in coordination between the United Nations mission in Iraq and humanitarian organizations and relief goods from some of the donor countries and the Iraqi government over three years and will be distributed the money to the four doors. .Continued

A special body for banks

7/31/2016 0:00
Baghdad morning

saw a financial expert , Thamer al – Azzawi , the founding body for banks is necessary to serve the banking sector , both public and private.
He said al – Azzawi in a statement »Sabah» that this kind of practice in all countries of the world bodies, as it will be responsible for national banks to develop, communicate and deal with international banks, as well as their contribution to the resolutions and mechanisms that support the economy.
The expert also pointed out that the developmental processes of public and private banks are a specialty of this type of Aoalheiiat institutions, either formulating monetary policy in the country is located on the responsibility of the central bank.
Among al – Azzawi , that this type of institution has the greatest impact on trade and economic development of the country, through the facilities and bank credits provided to customers, shareholders and investors

Government adopts an initiative to postpone the repayment of Iraq’s debts up to 2019

AM: 10: 40: 31/07/2016 Khandan

Khandan – announced financial advisor to Prime Minister Haider al – Abadi on the government initiative to postpone the repayment of Iraq ‘s debt of some member states of the Paris Club to offset the leverage of the country with the face of the crisis of liquidity caused by weak oil prices coupled with the cost of the war against al “Daash” terrorist, as he emphasized that the debt Iraq ‘s current account for 60 percent of GDP is within normal proportions. a financial advisor to the prime minister in favor of an appearance in an interview with the newspaper (morning): that ” the aim of maximizing the leverage of Iraq ‘s government is seeking to postpone the repayment of debt owed ​​to some member countries of the Paris Club until the year 2019 “stressing” the existence of a response from those countries, including Canada , which announced its willingness to postpone installments and interest on its debt beyond 2019 “. Saleh added that” the Paris Club of sovereign debt and sovereign , both have been reduced to more than 80 percent , “adding that” Iraq is now receiving financial support from the international monetary Fund over the next three years because of the liquidity crisis resulting from the weakness of global oil prices and the cost of the war led on behalf of the world against Daash terrorist, “adding that” Iraq ‘s debt currently accounts for 60 percent of GDP , which is considered to be within natural proportions. ” Salih stressed” the existence of some of those debts or claims that have not been settled so far as returning to the pre – 2003 funding for military operations called -diona Bgadh- unresolved is still pending , or so – called «debt suspicious and negotiations are continuing.” and on the budget deficit for the current year as financial advisor to the prime minister , “the increase occurred in the deficit in the 2016 budget year , said it amounted to 34 trillion dinars instead of 23 trillion dinars , which approved the federal budget for this year , based on the sale of $ 45 a barrel oil price , ” he said , adding that “fluctuation sell oil prices earlier this year was born a deficit valued at 11 trillion dinars extra prompting the government to reduce and to reduce domestic spending.” He acknowledged the benefit of ” the initiative of the Iraqi consultative government with the secretariat of the Paris Club to postpone the payment of debt installments of the member states beyond the end of the agreement and the program with the the international Monetary Fund in 2019 , “noting that” Iraq ‘s debt owed ​​to foreign governments $ 17 billion and $ 500 million , including nine billion to Paris Club members, “following up” Iraq is the annual Paris Club payments of approximately $ 800 million, “he said . ” Iraq to issue commercial sovereign bonds worth $ 2.7 billion maturing in 2028. ” the international Monetary Fund has given last may preliminary approval to provide $ 5.4 billion over three years to help Iraq -aledo Organization Aopk- to bridge the budget deficit.

Urgent completion of the second phase of the liberalization process Khalidiya Island

History of edits:: 07.31.2016 15:02 

[Where – Baghdad] 

ended the security forces, on Sunday, the second phase of the liberalization process of the island of Khalidiya in Anbar province , which was launched on Saturday.

A statement by the cell media war, received by all of Iraq [where] a copy of the “second phase of liberalization Khalidiya ended Island process the arrival of military units to the northern edge of the Euphrates River and clearing 20 kilometers from the Albu per record to Albu Obaid area.” 

He added that ” the pieces are currently searching the area and raise the IEDs and the process is going to purge the remaining of the Khalidiya Island shared the pieces in this process is the X band and the crowd and folk brigades Federal police and the band 14 “. 

the edit Khalidiya Island operation was launched on Saturday and investigated by the progress the joint forces killed several terrorists .

Iraq Stock Exchange stopped due to heat    

Exchange, it would not regulate its daily to next Monday and Tuesday the first and second days of the month of August, due to the high temperatures.
She added, “the stock market” in a statement “the economy News” received a copy of it, that based on the decision of the Prime Minister, that the stock market will resume its work on Wednesday approved August 3.
The Iraq Stock Exchange shut down its operations in mid-July, due to high temperatures.

Alnasiri: banking reform achived the support of government and central bank intervention Aerava    

Banking expert member of the World Union of Arab Bankers Samir Abbas Nasiri said although the measures the numerous and instructions issued by the government and the Central Bank of Iraq during the last months of the year 2016 for the purpose of repairing and organizing the government banking and private business and, most recently dismissals and appointments issued by the Prime Minister of the general managers decisions Government banks and the launch of the Central Bank of the strategy up to 2020, but the business Unaudited banks, particularly private banks results Mhoshrat disappointing showing and far from the expectations planned and reason, as is evident for the professionals is mismanagement in some banks and non-compliance with the instructions Banking and central intervention boards of directors executive departments of banks private and especially the lack of governance for boardrooms and the disposal of some of them was a private bank King The largest shareholders and the problem here is that most of the board members have warheads money and manage the bank their potential Resume without relying on experts and advisers banks and executives are well versed banking work added to the weakness of Proactive control internal stakeholders and in most cases twice the diagnosis and accounting also that disrupted and weakened the banking business in Iraq as well as other causes of Foreign Affairs, which has affected the Iraqi economy, a drop in oil prices and the financial and administrative corruption and the war on terrorism and the lack of economic, financial and monetary stability, which requires treatment and repair of the Iraqi banking sector government support from the central bank as well as the intervention of Aatakaz decisive and quick decisions to correct all the negative tracks above and address the imbalance in the Iraqi banking business and restore the public’s confidence to deal with the banks and achieve the central objective of the increase of the percentage of the savings at the expense of the compactness of the mass of cash according to the following:

First: the role of government support

The formation of a specialized team is linked to the General Secretariat of the Council of Ministers and the membership of representatives of specialists and experts from:

Iraq Central Bank

Ministry of Finance

Iraqi private banks association

Economists and bankers experts selected by the President of the team does not number more than 4 experts

The team shall be considered and discussed executive measures to reform the banking first economic reforms that step 

 As follows:

1. amend laws governing the banking business and is the Banking Act (94 of 2004) and the Central Bank Law (56 of 2004) and the law of Iraq Stock Exchange (74 of 2004) and the law of money laundering (93 of 2004) and the Investment Law, as amended, (13 of 2006) and the Law companies (21 of 1997).

2. Adoption of new financial monetary policy lead to comprehensive reform and restructuring of the public and the private banking sector.

3. Develop contexts and mechanisms for coordination between fiscal and executive two policies.

4. activating the supervision and control of pre-emptive electronic banking and supervision in accordance with the preparation and issuance of instructions and regulations guiding the new executive.

5. activating the role of government in building a strategy for the development of micro, small and medium enterprise development and construction of the mechanics and Adkhh the private sector to actively participate so that they can shift from the government sector continued to a major partner and then to the commander of the market.

6. start mechanisms and bricks Aloradh strategy of the Iraqi Central Bank for the year (2016-2022)   

7. focus on increasing credit and finance, soft loans and deposits in the activation of the employment aspects of investment and reconstruction and advancing the process of economic development.

8. development of information technology and banking technology and modern in all its forms, with emphasis on disclosure and transparency of financial statements for banks and customers.

9. instructions and mechanisms that contribute to the development of human resources and banking in particular, the protection of banking experience or leadership cadres as a national economic expertise will contribute to the stability and development of the banking business setting

10. Develop a plan to address the financial collapse experienced by some private sector banks due to lack of current liquidity conditions and harmed financially and physically, especially in hot areas affected by terrorism.

11. Establish new criteria for the classification of private banks in accordance with international standard norms

12. reconsider controls selection of members of the boards of Directors and Commissioners and define the duties of the Council planning and non-interference in the executive management of the banks and to focus on economic specialization and the banking experience for members and reduce the number of its members to 5 members only and the adoption of advisers and experts, bankers specialists to supplement the Council’s executive management advice and expertise categorize that nominated Central Bank of Iraq in coordination with the Iraqi private banks association 

13. establishment of investment funds and the contribution of the banks to finance large and strategic projects

Second central Iraqi Doralpennek believe that one of the important and fundamental solutions to overcome the Iraqi banking sector problems currently faced by most of the private banks and also in the coming stage will face government banks is seriously thinking by the Iraqi Central Bank and the Ministry of Finance in cooperation with the Commission ..