Association of Iraqi private banks concludes the cycle «Treasury Department»

 

Banks

Economy News – Baghdad The Iraqi Private Banks Association, in cooperation with the Central Bank of Iraq and the Joint Efforts Group, concluded Thursday a “treasury management” course for a number of employees in private and government banks. A total of 38 trainees from private and government banks participated in the five-day course at the Association’s headquarters in Baghdad. The target groups for the course were treasury and investment department staff, risk management staff and operations. “We thank the Central Bank and the group of efforts to support the Association in setting up this course, providing all its needs and choosing an efficient trainer capable of delivering information in a simplified way to the trainees,” said Ahmed Al Hashemi, director of administration and training at the graduation ceremony. Al-Hashemi added that “the Association of Iraqi private banks aim to develop human cadres working in private banks and government,” pointing out that “the Association has obtained the approval of the Central Bank for the establishment of professional training in the management of the treasury, which has special criteria for the selection of people, because the certificate will be recognized.” The participants praised the training center of the Association of Private Banks and stressed that they provided all conditions for the success of the circumstances. At the conclusion of the ceremony, the trainees took a group photo with the trainer and they hold the graduation certificates they received after the course ended.

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Change the salary schedule that falls within the Eid holiday

Date of editing:: 2019/8/2 0:45

Al-Furat News has received a request from the Director General of Accounting Department at the Ministry of Finance to change the salary schedule that falls within the holiday.

The application was approved by the Minister of Finance as shown below.

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Abdul Mahdi and Halabousi discuss joint coordination and the granting of the Kuwait Conference

Editorial date: 2019/8/1 13:41

(Baghdad: Al-Furat News) Prime Minister Adel Abdul-Mahdi and Speaker of the House of Representatives Mohammed Halbusi, on Thursday, discussed the security, political and economic conditions in the country, and the latest regional and international developments.

“The meeting stressed the importance of coordination between the legislative and executive authorities, and support the government in the implementation of its government program at the specified times, and provide the best services to citizens.”

The meeting also reviewed “the results of the visit of the Speaker of the House of Representatives to the State of Kuwait; to discuss ways to invest funds allocated for the reconstruction of Iraq at the Kuwait International Conference of donors held in February 2018, and the Kuwaiti side’s commitment to the outcome of the conference and support the work of the Iraqi government, Reconstruction, providing services to citizens, and achieving stability. ”

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The document is an important government decision to guarantee the members of the interior and defense

Release date: 2019/8/1 12:29

{Baghdad: Al Furat News} The General Secretariat of the Council of Ministers directed all state institutions to accept the sponsorship of employees of the Ministries of Interior and Defense to apply for advances and loans.

The document issued by the Secretariat, got the agency {Euphrates News} a copy of it, “was directed to the Bank of Rashid accept the guarantee of employees of the Ministries of Interior and Defense to apply for advances and loans, according to the controls.”

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Nusseiri: Calls on the government to activate its decisions to support private banks

Banks

Economy of Iraq – Baghdad

The economic and banking adviser to the Association of Iraqi private banks, Samir Nusairi, on Thursday, to activate its decisions on government support for private banks, which issued earlier but did not implement what was intended by these decisions.
Al-Nusairi said in an interview with “Economy News” that the structure of the Iraqi banking sector consists of 7 government banks, which account for 86% of the total deposits of the government and the public and 78% of the total assets and private banks constitute 70 commercial and Islamic banks and invest 78% of the capital of the banking sector “He pointed out that the objectives set for the banking sector in the fourth axis (strengthening the economy) in the government curriculum focused on achieving lending for development, considering banks as a lever for development and building bridges of trust with the public and achieve financial coverage in the sense of expansion and spread Presented by Ntjat and banking services and the practice of real banking and digital transformation of the banking sector in accordance with the time limits specified in the government program.
Al-Nusairi stressed the importance of stimulating and revitalizing the economy with banking finance and banking facilities in the face of its implementation at present. Despite the great efforts exerted by the Central Bank since 2016 to implement the objectives of its strategy for the years (2016-2020) The most important of which are the structural, structural and technical developments in banks, increasing the proportion of financial coverage and investment in human capital, and moving towards stability in the monetary system and stability in the exchange rate. Y year and a half.
He pointed out that the banks also need government support for the purpose of achieving what is stated in the governmental curricula, taking into account the following: The nature of the activities of the banks depends on the nature of the activities of the economic sectors. As long as the economic activity is concentrated in trade (imports), the activity of banks remains focused on foreign transfer and related Therefore, unless the other sectors (industry, agriculture, tourism) and others move to predict the diversity of banking activity, the legal environment and the extension of the rule of law should be provided to eliminate the phenomenon of default in the repayment of loans. Form a large proportion of total credit granted and thus reluctance of banks to provide loans and banking facilities.
Without the control of imports, these sectors will not rise, which explains the lack of progress on serious loans through the initiative of the Central Bank.
He added that the non-activation of the decisions of the Council of Ministers and the Committee on Economic Affairs in the Council of Ministers, which had previously been issued to support the banking sector, especially private banks, have impeded the activities and activities of private banks and significantly affected the liquidity and revenues and deposits for that and for the purpose of implementation of the government program to ensure the transition The role of banks from banking to the developmental role and the revitalization of the banking business requires the government and in particular the Council of Ministers and the Committee on economic Affairs to activate the decisions that have already been issued by the Council of Ministers and the Committee on economic Affairs and is also documented in numbers and the following dates: –
 a 1-
Not to accept the Ministry of Finance to open bank accounts for ministries and state departments in private banks and to reserve them in government banks under its book 207 dated 31/1/2019.
2 – Activate the decision to allow ministries and government departments to open documentary credits in private banks up to 50 million dollars without going through the Iraqi Bank for Trade.
3 – Activation of the Council of Ministers Resolution No. 110 of 2009 and the decision of the Committee on Economic Affairs 141 on 20/02/2012 regarding the transfer of government documentary bank credit up to 30 million dollars to private banks through the Iraqi Bank for Trade.
4- Activating the decision of the Committee of Economic Affairs No. 253 of 2015.
Regarding the acceptance of instruments ratified by private banks to pay insurance and customs fees and taxes.
Second: Activating the Cabinet Resolution No. 378 of 2018 concerning the collection of government fees in the government departments through electronic payment.
Third: Activating the financial services court formed in accordance with the Central Bank Law No. 56 of 2004, and the court may refer cases that require referral to the competent courts in accordance with the applicable penal law.
4 – to consider the debts of troubled banks customers in the private banks urgent claims and excellent debt like government debt.
Fifth, in addition to the efforts of the Central Bank requires the government also to work to provide conditions and take measures to help private banks to obtain the credit rating adopted internationally and thus strengthen international banking relations with correspondent banks.
VI – The Ministry of Finance to compensate for the damage to the monetary assets and fixed lost by the branches of private banks, which amounted to (37) branches in the provinces occupied by the terrorist advocate and documented with the Central Bank of Iraq.
VII. Activating the decisions of the Council of Ministers No. 313 of 2016 and 218 of 2017 regarding the settlement of salaries of employees and the demand from government departments to settle their salaries as they wish and not to direct them to settle salaries in government banks exclusively.

 http://economy-news.net/content.php?id=17408

Iraq signs memorandum of understanding with the United Nations for the reconstruction and recovery of liberated areas

Editorial Date: 2019/8/1 11:44

Iraq signed a memorandum of understanding with the United Nations Assistance Mission for Iraq (UNAMI) on Thursday on the Iraq Reconstruction and Recovery Trust Fund.

The memorandum of understanding on Iraq was signed by Minister of Planning Nuri al-Dulaimi, and signed by the United Nations Mission Marta Ruidas, the UN Resident Coordinator in Iraq.

Al-Dulaimi said after the signing of the agreement that “this memorandum organized the work of the management of the Fund for Recovery, Reform, Reconstruction and Development, which comes within the obligations of the Iraqi government decisions of the Kuwait Conference in February 2018, in the management of support pledged by the international community to provide the Iraqi government for the purpose of reconstruction and development and economic reform.

He explained that “the fund, which was established on the basis of the Council of Ministers Resolution No. 53 of 2019, will be implemented through vital projects and infrastructure projects and provide basic services to citizens by the United Nations mission in cooperation with relevant authorities in the federal government and local governments.”

For her part, Ruedas stressed the importance of this memorandum in the implementation of several vital projects and the optimal guidance for international grants to Iraq, indicating the keenness of the United Nations Mission to increase international support and cooperation with the Iraqi government in its reconstruction and stability efforts.

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