Iraqi Private Banking Association Concludes Training Course on “Corporate Risk Management”



Economy News Baghdad:

A training course titled “Corporate Risk Management” organized by the Association of Iraqi Private Banks at its headquarters in the capital Baghdad was concluded on Thursday with the participation of 76 trainees from government, private and foreign banks and financial transfer companies.

The Executive Director of the Association of Private Banks Ali Tariq, told “Economy News”, “The Association of Iraqi private banks concluded today a training course in institutional risk management, which was organized in cooperation with Talal Abu-Ghazaleh and the Arab International Community of Chartered Accountants,” adding that ” The course 76 people working in banks and financial transfer companies operating in Iraq. “

He explained that “the course of the training course ensures the management of risks, which are divided into market risks and operational risks and credit risks and applications of the elements and concepts of Basel,” pointing out that “the certificate given to participants recognized internationally because it issued by the Arab International Institute of Chartered Accountants.”

He pointed out that “the training courses organized by the Association of Iraqi private banks during the last period began to show their features through the development that took place in the banking sector of Iraq,” noting that “the Central Bank praised the efforts of the Association of private banks, specifically in the field of training and development.”

 The Association of Private Banks, announced earlier this year, the training of more than 900 employees working in government and private banks and financial transfer companies in the areas of anti-money laundering and risk management.

Meanwhile, the director of management and training in the Association of Private Banks, Ahmed al-Hashemi, told “Economy News” that “the session targeted all employees in the risk management department of banks operating in Iraq,” describing the session as “successful due to the participation of a large number of bank employees.”

He pointed out that “the Central Bank and the Association of Private Banks have a strategic plan to develop the banking sector through the work on human resources,” adding that “there continue with the trainees in the coming period to find out their needs in order to continue education.”

On the other hand, the director of risk management at the Central Bank, Hussein Lazam, told the “Economy News” that “risk management is present in all organizations, but there is privacy in the banking sector because the environment of the bank is the most serious,” adding that ” Of all banks to establish a risk management department and not a risk management unit or division. “

He stressed that “risk management needs a great effort by banks because it serves its work and put it on the right track in the face of challenges.”


Telecom plans to launch “National Internet Project” next Sunday

3 hours ago Last updated

11:38 AM

BAGHDAD / Al-Ghad Press: 

The Iraqi Ministry of Communications intends on Sunday , Launch of the National Internet Project in Iraq. 

“It plans to hold a press conference at its headquarters in Baghdad to launch the national Internet project in Iraq on Sunday,” the ministry said in a statement on Thursday.

“During the conference, senior officials from the ministry and the executive director of the National Internet Project in Iraq will speak,” she said.  

She pointed out that ” Conference addresses A detailed definition of the first and leading technological project in Iraq, and the stages of completion, and the nature and conditions of achievement, with full presentation of the benefits of this promising project on the Iraqi economy and society, and the mechanisms of work and direct distribution of services, and how it will change the reality of the Internet and communications in Iraq radically.

The Central Bank determines the amount of dollar sale for pilgrims

Baghdad – Journal News

The Central Bank of Iraq, on Thursday, the amount of selling the dollar to Iraqi pilgrims at the official price.

“The Rasheed Bank, Al-Rafidain Bank and the Iraqi Commercial Bank were directed to sell the dollar to pilgrims,” ​​the bank said in a statement.

He added that “the manfest for pilgrims will be adopted instead of the ticket in the sale, for $ 3,000 per pilgrim, at the official price.”

The Central Bank of Iraq allowed yesterday to sell the dollar to the pilgrims of the House of God at the official rate through the banks authorized.

Baghdad and Arbil sign joint minutes to coordinate action to prevent double taxation



Under the auspices of the Association of Iraqi private banks, the General Authority for Taxes in the Federal Government and the General Administration of Taxation in the Kurdistan Regional Government in Erbil on Wednesday a joint record to coordinate work in the field of prevention of double taxation.
The delegation of the Association of Iraqi Private Banks included Samir Abbas Al-Nasiri, Advisor to the Association, Shirwan Anwar Mustafa, the representative of the Association in Kurdistan, Kifah Ismail, Deputy Director of the International Bank of Kurdistan, Saman Burhan, a friend of Ceyhan Bank, Huda Jassem, Yusuf Wadud and Majed Michel. The delegation also participated in the meeting of the Central Bank of Iraq The delegation of the General Authority for Federal Taxation, headed by General Manager Abbas Ali, was joined by Mr. Karim Salem Kamash, Director of Business and Professional Affairs, and Mr. Abdul Aoun Al Madi, Director of the Central Bank Branch in Kurdistan Region. The Executive Director of the Legal Department, Wa’am Salman, Director of the Legal Department, and Emad Abdul Sada Farhan, a company expert, included the delegation of the General Directorate of Taxation in the Kurdistan region, headed by Kamal Tayeb Qader, both Niazi Salahuddin Mustafa, director of the corporate section, while a delegation from the Economic Council and advisers from the provincial government included both Mr. Othman Shwani, economic coordinator in the region, Waras Khoshnau Director of the Center for Strategic Studies and Information Kurdistan
The document, signed by the General Authority for Taxation, was signed by its Director-General, Mr. Abbas Ali, and signed by the General Directorate of Taxation in the Region. The Director-General Kamal Tayeb is able to review the amendments to the Federal Income Tax Law No. 113 of 1982, which has already been approved by the Parliament of the Territory, Tax
The joint minutes, which will be presented to the higher authorities in the federal government and the provincial government to approve the paragraphs on the unification of the annual regulations, to be participated in the preparation of representatives of the two tax administrations, and approved the record participation of the tax administration in the province in the controls committee of the General Authority for Federal Taxation, Of the project for the electronic system of tax accounting and the application of the system of granting the tax number and issuance of the tax card
The two sides agreed through the minutes to facilitate the procedures of tax accounting for Iraqi private banks in the region so that they are held with the headquarters of the banks and all of its branches in Iraq
The two sides agreed to recognize the documents and the acquittals issued by each of them by the other side
The two sides decided to form a joint joint coordination committee to follow up these decisions and obtain the necessary approvals from the official references in both Baghdad and Erbil to put into effect
The meeting was attended by a delegation from the Association of Private Banks, including Samiralnseiri, Advisor to the Association of Private Banks, Majid Michel, Director of Public Relations, Sherwan Mustafa, Representative of the Association in Erbil, as well as a number of Directors,
As well as representatives of the Central Bank of Iraq
The two sides held their previous meeting in Barbil on June 12, devoted to end the double taxation between Baghdad and Erbil and coordinate the tax procedures and support the work of private banks to contribute to revitalize the economic cycle in the region and in Iraq in general.
The Association of Iraqi Private Banks, previously held a series of meetings with the administration of the Kurdistan Region of Iraq in Erbil, to discuss the obstacles that prevent the strengthening of cooperation between private banks and tax services in the region, and called for the Association to hold quarterly joint meetings every 3 months, the rate of 4 meetings annually, To follow up the issues of bilateral cooperation in the field of taxation and banking between Baghdad and Erbil.

Iraqi Army Closes Qayyara Bridge Against Smuggling Oil by Shi’ite Militia


Iraqi Army Closes Qayyara Bridge Against Smuggling Oil by Shi’ite Militia


ERBIL — Due to smuggling oil from Qayyara fields, southern Nineveh province, by the Shi’ite Arab militias of Hashd al-Shaabi, Iraqi army closed Qayyara floating bridge.

A security source from Nineveh police said on Thursday that Qayyara floating bridge has been closed for seven days, and may remain closed for another four days, causing difficulties for the movement of residents of the region.

The reason behind the closure of the bridge is tensions between the Iraqi army troops controlling the bridge and the Shi’ite militias of Imam Ali Brigade because of the latter’s control of oil wells in the region and selling the crude oil through illegal means, Captain Zakaria Shawkat form Nineveh police told BasNews.

He noted “This prompted one of the officers to remove one of the pieces of the bridge under the pretext of maintenance to block the way of the tank trucks coming to and from oil wells in Qayyarah.”

Moreover, the residents of Qayara called on the local and federal governments to soon open the bridge to lift the burden of having to take difficult alternative routes to travel.

Qayyara town, located 45 km south of Mosul, was taken by Islamic State militants following the fall of Mosul into the group’s grip in mid-2014. The Iraqi army and US-led coalition liberated the district on August 24, 2016. The town has large fields of oil, containing dozens of wells, some of which IS militants set on fire upon retreating from the town.

Al-Harbi’s media cell reports dozens of “da’ash” elements killed by air strikes


– 7/27/2017 6:14:00 AM30 Number of readings


Khandan –

The military information cell on Thursday killed dozens of elements of the organization “Da’ash” terrorist and the destruction of car bombs and warehouse, air strikes carried out by Iraqi aircraft in Tal Afar and west of the district of Hadar and south of Tel Abtah.

“According to information from the Federal Intelligence and Investigations Agency, the air force hawks have directed several air strikes,” the military information cell said in a statement.

According to the statement, “the destruction of a large warehouse of weapons and light and heavy equipment and the demolition of tunnels under the warehouse completely, killing about 40-50 terrorists and wounded others where the terrorist gangs were seen to transfer their bodies rotten to the hospital in Tal Afar in Tal Afar.”

The statement also pointed to the “targeting of a group of gangs and terrorist gangs and the killing of dozens of them and the destruction of a number of wheels carrying weapons that were located inside a forest to the west of the urban district – desert region.”

A number of terrorists, including foreign nationals, were killed in an attack on our security forces south of Tal Ibtah, “the military information cell said in a statement.

It also said that “the destruction of the headquarters of a store of weapons and ammunition was also filled with a tunnel located under the headquarters of the entire gangs of terrorist supporters and the killing of many terrorists in the district of Tal Afar.”


Iraq ‘s economy recovers “treasure” from Europe

Iraq recovers "treasure" from Europe
 Twilight News    
 24 minutes ago

The Ministry of Culture for Tourism and Antiquities Affairs Qais Hussein Rashid said that the ministry has succeeded in recovering 24 important artifacts, which had fled from Iraq in previous times and arrived for sale at a French auction.

The parliamentary culture and information committee demanded the Prime Minister, the Commander-in-Chief of the Armed Forces Haider al-Abadi, and all the security leaders and the popular crowd to preserve the antiquities in the province of Nineveh and to protect them against the thefts that are constantly being exposed to them.
Rashid added that the Paris Criminal Court had rejected Iraq’s request to restore its effects and issued its decision to refuse in 2013, but our insistence on the legitimate request of Iraq, and provide all the evidence and evidence proving Iraq’s right to it, and part of his legacy, which is looted and robbed because of war Terrorism has made the Court reconsider its decision to lead the restoration of these important effects to its home country.

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