Ministry of Planning: Association of Iraqi private banks will have a big business in the reality of the country


 Emaar Construction

Economy News – Baghdad

The Ministry of Planning, on Sunday, that the Association of Iraqi private banks will have a big interest in the reality of the country economically, while the President of the Association Wadih al-Hanal to support entrepreneurs and provide their needs.

The Association of Iraqi Private Banks organized a seminar at the station attended by Minister of Planning Nuri Sabah al-Dulaimi, Wadih al-Hanal, Wadih al-Hanal, and a number of entrepreneurs and leaders of the station to discuss a number of issues of interest to youth and how to support them in achieving their projects.

“The station said a distinctive Iraqi and we rejoice when we see such creative young people,” ministry spokesman Abdel-Zahra al-Hindawi said in a speech at the seminar, which was attended by “Economy News”. “Iraq is now an appropriate environment for launching such pioneering activities for young people.”

He added that “these young people must be contained, and support this category may start from this place (station),” noting that “the station and the Association of Iraqi private banks are important foundations in the private sector.”

The spokesman of the ministry, that “the Association of private banks will have a great interest in the Iraqi reality, and that through what we have seen from its community initiatives, which was represented by Baghdad and other projects that have been completed.”

“The visit of the Minister of Planning today to the station came to get acquainted with the bright side of the Iraqi scene, considering that the station station is a beautiful flower in the country,” he said, adding that “the Ministry of Planning on the order of its minister raised the bridge between the public and private sectors.”

For his part, the President of the Association of Iraqi private banks Wadih al-Hanal, after welcoming the Minister of Planning and the rest of the guests, that “the visit of the Minister of Planning of this place is very important to stimulate the creative youth energies at the station.”

Al-Hantal added that “the Association has achieved a lot of achievements and we are working on developing cadres by owning one of the largest training centers in the banking sector.” As we found the enthusiasm of young people in entrepreneurship outside the banking sector, Of the youth energies through the opening of their projects and achieve their goals. “

He called on the Minister of Planning to “invite the Prime Minister to visit the station in order to get acquainted with the projects of youth and support them and listen to them and provide their needs.”

There were interventions in a number of issues raised by the attendees and responded to the Minister of Planning and expressed in his response the point of view of the government and its position on such projects.

CBI sets the criteria for the rejection of banknotes of the dollar and the euro



2019-07-28 06:05
CBI sets the criteria for the rejection of banknotes of the dollar and the euro

The Central Bank of Iraq on the criteria that are relied on in the rejection of banknotes of the dollar and euro in the process of counting and sorting.

The bank pointed out that the most important criteria are: – 

– if it was cut in one corner or was oppressed or lost any part of the paper area. 

2 – If it has been torn and repaired with a transparent adhesive tape from any side. 

3 – If it contains a seal of large size or several small seals to affect their features.

4- If the effects of trading and use appear to be “smug” in order to affect their form or features. 

5- If strange substances have been caught and have affected their features such as inks, dyes, glues, crushed, cooked, processed, fat or oils. 

6 – if stored in the conditions of storage is incorrect, which leads to break or smell of mold. 

The Central Bank of Iraq was established as an independent bank under its law of March 6, 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies

“Dana Gas” sells its assets in Egypt and focuses its work in the Kurdistan region with a large capital

Economy of

Dana Gas

Kurdistan Region

2019/07/28 13:55:52

(Reuters) – Dana Gas has authorized the investment bank Theodore Pickering Holt & Co. to advise it to sell its assets in Egypt worth more than $ 500 million, while the company is shifting to focus on its activities in the Kurdistan region of Iraq. According to Reuters.

One of the exporters said that the energy company listed in Abu Dhabi, and its main assets in Egypt and the Kurdistan Region of Iraq, is considering an alternative listing in London and focuses on one geographical area that may be attractive to investors in the company in the future.

The two sources requested anonymity because of this information.

A spokesman for Dana Gas declined to comment, but Theodore Pickering Holt & Co did not respond to the comment request sent in non-working hours.

Dana Gas’s exploration and production assets in Egypt are land assets in the Nile Delta region with the exception of Sector VI in the Eastern Mediterranean.

In May, the company began drilling at the Mirak-1 berth in Sector VI, saying it could contain up to four trillion cubic feet of gas.

Dana said on Sunday in a notice to the bourse that the drilling did not result in the discovery of gas in commercial quantities and therefore the well was closed and left, but added that its operations in Egypt continue production normally.

The first source pointed out that the gas producer started marketing its assets in Egypt in the past few weeks, and that it has received interest from the market but there are no buyers yet, adding that the value of the assets “more than 500 million dollars.”

The source said that the decision to sell assets in Egypt is “strategic”, as Dana wants to focus its resources on investments in the Kurdistan Region of Iraq, where it has large capital spending requirements and sees potential for growth.

In a second notice to the stock exchange on Sunday, Dana said an independent report showed that the fields in which Dana owns stakes in the Kurdistan Region include “the largest gas reserves in Iraq.”

Pearl Petroleum, a consortium with Dana Gas and Crescent Petroleum holding a majority stake, plans to increase gas production from the Khormur field in the region to 650 million standard cubic feet per day by 2022 and produce 900 million standard cubic feet per day by 2023.

The plan, The expansion, which costs about $ 700 million, adds two new production lines as well as drilling of new wells to raise current production rates of 400 million cubic feet per day, Dana Gas and Crescent Petroleum reported in March when they announced a gas sale agreement with the Kurdistan Regional Government 20 years.

In May, Dana’s chief executive said Pearl Petroleum would raise funds for Kurdistan’s investments through more than one type of financing.

He said at the time that the capital expenditure of Dana in Kurdistan Iraq in 2019 estimated between 70 million and 90 million dollars, while estimated capital expenditure in Egypt by about 90 million dollars this year.

Dana, with a cash balance of $ 442 million at the end of the first quarter, triggered a shake-up in the Islamic finance industry in 2017 when it stopped paying $ 700 million worth of sukuk, calling it illegal in the United Arab Emirates.

After a long and complex legal dispute, the company reached a restructuring agreement with its creditors in May last year.

Somo is making about $ 70 million in additional revenue for the state treasury


 Economic  28/07/2019  17

Somo is making about $ 70 million in additional revenue for the state treasury


Oil Minister Thamir Abbas al-Ghadhban announced on Sunday that the Iraqi Oil Marketing Company (SOMO) will achieve about 70 million dollars in additional revenues for the state treasury. He said marketing all the quantities available for export would contribute to increasing Iraq’s share in world markets.

“Sumo was able to generate additional revenue for the state treasury of 69,942,056,90 US dollars, through the sale and marketing of instant shipments of quantities during the period from June 2017 to the first week of July 2019,” ministry spokesman Assem Jihad said in a statement received by Kalamgames Press. “He said.

He added that “the company was able to sell shipments of 3 million barrels of heavy Basra crude in July, as well as the sale and marketing of three other shipments of 1.8 million and eight hundred thousand barrels of Kirkuk crude oil by announcing them as immediate shipments according to the basis of marketing-based study And the assessment of global markets. “

“The total additional revenue expected from this activity for July 2019 will be approximately 3,070,000 three million seventy thousand dollars.”

He pointed out that “the marketing of all the quantities available for export in addition to the immediate sale of shipments will enhance the position and position of Iraq and increase its share in the global markets,” explaining that “the success of Somo comes within the efforts and the efforts of the Ministry of Oil to develop the methods of selling approved, including the sale of instant shipments at prices of price The official sale, in addition to the resumption of marketing Kirkuk crude oil to the global market through the re-pumping quantities across the system of pipelines in the Kurdistan region. “,15700021,15700043,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhi8hmjXbXHKc_mXPnOIZZDYeEWEWg

Kuwait directed the opening of its consulate in Najaf


Editorial date:: 2019/7/28 16:00 
(KUNA) – Kuwait’s ruler Sabah al-Ahmad al-Jaber al-Sabah on Sunday hastened the opening of a consulate in the province of Najaf, while the governors announced that Kuwait will build cities and build medical compounds in Iraq.
Najaf Governor Louay al-Yasiri said in a statement received by Al-Ahmad Al-Ahmadi that during his meeting with Al-Ahmad, the Iraqi delegation headed by Speaker of the House of Representatives Mohammad Al-Halbusi had informed Al-Ahmad about Kuwait’s intention to build specialized health centers to serve visitors. During the religious visits, on the road, “Ya Hussein,” the link between the provinces of Najaf and Karbala ” 
He said,” He held several meetings with other senior officials of Kuwait, to discuss the province of Najaf, and what can be provided. ” 
For his part, Ammar Jaber, the approval of the Emir of Kuwait on the construction of several residential cities in the province. 
According to a statement issued by the yolk Rude, that ” the Emir of Kuwait ordered the construction of a residential city of Baiji , in the district of their homes destroyed by the war on request Daesh, as well as other cities, namely Yathrib and Aziz country.”
He added that “the Kuwaiti Prime Minister agreed to form a joint committee to undertake the implementation of the grants approved by the Kuwait Conference for the reconstruction of Iraq, in February 2018, during a meeting with the President of the Iraqi parliament to accelerate the reconstruction of liberated areas and the return of displaced people.”

Iraqi parliament speaker starts three-day visit to Kuwait


Mohammed Ebraheem

Jul 27, 2019, 3:47 pm

Speaker of the Kuwaiti National Assembly Marzouq Ali Al-Ghanim receives his Iraqi counterpart Mohammad Al-Halbousi

Kuwait ( – Speaker of the Iraqi parliament Mohammad al Halbousi arrived in Kuwait on Saturday starting a three-day official visit to the country.

He was received upon arrival by National Assembly Speaker Marzouq Ali al Ghanim and legislators, Kuwaiti news agency (KUNA) reported.

The Iraqi officials and legislators will discuss with their Kuwaiti counterparts means of investing the USD 30 billion fund, pledged at the previously held Kuwait conference for aiding Iraq, Iraqi parliament spokesperson, Hamed Shaker, told KUNA on Thursday.

The visit comes within the framework of mutual efforts to cement and expand economic and commercial relations, with plans to carve out a free trade zone and facilitate cross-border commodities’ transport and businesses.

Officials from the two countries, during a landmark visit by Kuwaiti Emir Sheikh Sabah Al-Ahmad AlSabah to Iraq on June 19, held consultations on best avenues for boosting the relations and cooperation in the economic and business sectors.

Official Statement: Amir of Kuwait orders the construction of residential cities in 4 districts and areas of Salah al-Din

 Policy 28/07/2019 13:34  1205    

Baghdad today _ Salah al-Din

The Emir of Kuwait, Sabah Al-Ahmad Al-Sabah, ordered (Sunday, July 28, 2019) to build residential cities in 4 districts and districts of Salah ad Din province.

“The Amir of Kuwait ordered the implementation of the request by the governor of Salah al-Din Ammar al-Jabr, to build a residential city in the district of Baiji to destroy their homes, and there will be other cities in Aziz Balad and Sulayman Bey,” the Salahuddin Provincial Council said in a brief statement received by Baghdad today. and Yathrib. ”

This comes in conjunction with the meeting of the Amir of Kuwait, an Iraqi delegation of deputies and governors.

The Emir of Kuwait, along with head of the delegation, Parliament Speaker Mohamed Halboussi, discussed on Sunday ways to invest funds allocated for the reconstruction of Iraq at the Kuwait International Donors Conference.

“We came to the State of Kuwait with the executive officials of the government to discuss the files related to the reconstruction projects of Iraq from the grants that were allocated at the Kuwait International Conference, especially in the field of health and education in all governorates,” said Halaboussi, Forming joint committees to study them and start implementing them. ”

According to the statement of the Office of Halbusi, “the Secretary-General of the Council of Ministers and Governors, made a presentation of the projects needed by the provinces, including with regard to services and infrastructure, especially cities liberated from the organization of a supporter.”

For his part, Kuwait’s Amir Sabah Al-Ahmad Al-Jaber Al-Sabah said during the meeting, which was attended by Crown Prince Nawaf Al-Ahmad Al-Jaber Al-Sabah: “We are always ready to help Iraq and stand with it. Kuwait will do its utmost to fulfill its commitments at the Kuwait International Donor Conference. To fulfill its obligations, and wish the Iraqi government and people more stability and progress. ”

He is accompanied by a delegation comprising a number of Iraqi governors, including the governor of Saladin.,15700021,15700043,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhjUldwAAhNdSLT3X8lJl8M0yEVOGw

Finance: Changing our way from traditional budget to projects and prompt performance

Economy | 02:27 – 28/07/2019


The Prime Minister for Economic Affairs and Finance Minister Fuad Hussein announced on Sunday the change of the way the Ministry of Finance from the traditional budget to budget projects and performance directed.

“It is a pleasure to be with you in the workshop,” Hussein said during his participation in the program budget workshop organized by the US Agency for International Development in cooperation with the United Nations Development Program in Iraq and the advisers of the Prime Minister. “This is an important task which comes, as I see it, as a step to strengthen the approach we started in Iraq several months ago in coordination with the Iraqi ministries and governorates.” He pointed out that “the traditional budget” has been adopted, Not directed by Each strategic, designed to focus on reducing costs more than achieving tangible results, and many of the limitations and shortcomings which I am sure you fully aware of them. ”

“We have changed our approach from the” traditional budget “to the” balanced projects and performance directive “will not be easy, and this approach is new to us, and so far we do not have the individual and institutional capabilities necessary to formulate a real” budget projects and performance “contribute to the guidance of our resources To the real need for them with a clear vision on how to translate the budgeted costs into concrete results. ”

Deputies reveal measures to lift the immunity of more than 30 deputies


The parliamentary legal committee revealed on Sunday efforts to lift the immunity of 30 deputies required to the judiciary on various charges, calling on Prime Minister Adel Abdul Mahdi to arrest the ministers wanted for the judiciary because they do not enjoy diplomatic immunity.

“The parliament is continuing to lift the immunity of deputies required for the judiciary as a legal and constitutional procedure and the deputy must defend himself before the judiciary,” said deputy chairman of the Legal Committee Mohammad al-Ghazi.

“For ministers who are accused of corruption, those who have been told by the prime minister must be referred to the judiciary before the statement, because they do not enjoy immunity, whether they are former or current, so the legal procedures are easy to be established against them.”

He called on the Prime Minister as head of the Anti-Corruption Authority to “proceed with the investigation procedures and refer the wanted parties to the concerned parties as they are considering these matters until proven guilty or not.”

He added that “the Supreme Judicial Council earlier in the House of Representatives with the presence of personalities have become members of parliament and previously held executive positions in previous governments have been charged with some charges of corruption, and the House of Representatives to lift immunity from them as well as current deputies, That “the number of more than 30 deputies ranging between charges of libel and defamation and other charges of corruption.”,15700021,15700043,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhgf4HH2Djqa6rrXiTo36mXIcIyRSQ

Association of Banks organizes a course «Treasury Management»

Side of the session. “Economy News”


Economy News Baghdad

On Sunday, the Association of Iraqi Private Banks organized a course on “Treasury Management” with the participation of 38 trainees.

In cooperation with the Central Bank of Iraq, Al-Duwa established the Center for Banking Studies and a group of joint efforts.

The five-day course is aimed at Treasury and Investment Department staff and risk management and operations staff.