New classifications of Iraqi banks arouse the ire of specialists … and calls not to favor parties affiliated with banks.

2020/10/10 12:00

The number of readings 1689

Section : File and analysis

Baghdad / Al-Masala: The decision to review the ratings, bank evaluations and the distribution of auction shares for dollars according to the new evaluation raises the controversy that the new classifications are local and not international, while most banks in Iraq are small, whether with their capital or their management of banking operations, while others considered that the revaluation For banks, a short period of time raises doubts.

Abdul Rahman Al-Mashhadani, a professor of political economy at the Iraqi University, said in an interview followed by Al-Masalla on Al-Sumaria TV that the bank had previously set standards for classification and evaluation of banks in 2016 for a period of three years on the basis of applying international banking standards by studying the status of banks and their data to come up with a classification for them. This did not include all banks, as a group of them was excluded, but we were surprised today by the new governor of the Central Bank to take a decision to re-classify these banks within one week, which raises more than a question mark.

Al-Mashhadani continues that the process of re-evaluation of these banks at the present time, and according to what I received from information, is an inventory of dealing with a group of banks that have a lot of confusion.

He added that the classification mechanism used (ie, B, C) is not clear and does not approach international classifications, and there is no disclosure in the local classification standards, adding that the central bank was supposed to follow the example of international central banks by setting international standards for evaluation and classification so that banks know their place on The level of the world, not to follow a classification of your own, which will not constitute anything on the map of global banks.

For her part, the economic expert, Salam Sumaisem, demanded in an interview followed by the obelisk to know what criteria are used for re-evaluation and to know exactly why the revaluation is carried out.

Sumaisem points out that the purpose announced regarding the evaluation is to reset the issues because everyone is heading to the issue of selling the currency, and therefore the revaluation comes to consider the feasibility of the auction and the shares granted to the banks. Evaluation.

In turn, the economic expert Dergham Muhammad Ali, in an interview followed by Al-Masalla, sees that Iraq does not need this number of private banks, especially as they do not contribute to development and do not practice banking in most of them.

And stresses that the step of evaluation and classification of banks, if implemented correctly without favoritism for the parties-owned banks, it is positive because the banks now live on auction.

In a press statement, Representative Alia Nassif considered it regrettable that the bank classification mechanism came upside down, as it placed limited activity banks in the highest classification, and multi-activity banks that contributed to development and investments in the lower classification.

She added that this issue is not easy and is not limited to being a mere classification, but rather affects the economy directly in terms of granting confidence to ineffective banks at the expense of active and influential banks in the investment movement.

In a move described as “quick”, the new central bank governor, in the first week of taking office, held a meeting of the bank’s board of directors to take a decision to reconsider the banks ’valuations and distribute the auction shares for the dollar according to the new assessment.

The Central Bank of Iraq began at the end of 2016 by adopting specific weighting criteria related to the participation of banks in the window of sale of foreign currency (dollars), by evaluating and classifying them into three categories, namely A, B and C.

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The US State Department welcomes the Sinjar agreement: We hope for a speedy return of the displaced

Politics

US State Department

The Sinjar Agreement

2020-10-10 16:09

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Shafaq News / On Saturday, the US State Department welcomed the agreement of the Iraqi government and the Kurdistan Regional Government regarding the status of Sinjar district in Nineveh Governorate.

In a statement, a spokeswoman for the US State Department, Morgan Ortagus, said that the United States is pleased with the steps taken by the governments of Baghdad and Erbil to solve the political and security problems in Sinjar.

She added, “We hope that the agreement will pave the way for the conditions that would accelerate the return of life to Sinjar, and create the safe and voluntary return of the displaced who were displaced by ISIS.”

Ortagus stressed “the importance of protecting the rights of the people of Sinjar who were subjected to massacres.”

The US embassy in Baghdad had commented, on Friday, on the agreement, and said in a statement that “the United States of America congratulates the Iraqi government and the Kurdistan Regional Government for reaching a joint cooperation agreement in Sinjar .”

She added, “We are looking forward to its full implementation and we hope that this agreement will lead to lasting security and stability for the Iraqi people in northern Iraq.”

Both Jordan and Egypt have also welcomed the agreement  

The Sinjar agreement provides for a joint administration of that disputed area between them, which is subject to Article 140 of the Iraqi constitution, along with some other areas such as Kirkuk, Khanaqin and Makhmur .

A spokesman for the Iraqi Prime Minister, Ahmed Mulla Talal, announced on Friday that Prime Minister Mustafa Al-Kazimi had concluded a “historic” agreement with the Kurdistan region about Sinjar .

The agreement includes normalization in Sinjar, returning the displaced to it, controlling its management, and working to remove the illegal forces from it .

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Kurdistan Democrat: The Sinjar agreement will end the presence of illegal factions in Iraq

Politics

The Sinjar Agreement

2020-10-10 12:46

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Shafaq News / The Kurdistan Democratic Party in Nineveh praised, on Saturday, the historic agreement between the federal government and the Kurdistan government regarding Sinjar district, returning it to an end to regional conflicts and an end to the presence of illegal factions on the land of Nineveh and Iraq in general.

Yesterday, Friday (October 9, 2020), the federal government and the Kurdistan Regional Government reached an agreement to normalize the situation in Sinjar, which included three administrative and security axes and the reconstruction axis. Legal and politicians praised the agreement.

A member of the Kurdistan Democratic Party and the head of his bloc in the former Nineveh Council, Barakat Shamo, told Shafaq News, “The Baghdad-Erbil agreement regarding the normalization of the situation in Sinjar is a political and social achievement that restores the legitimate administration of Sinjar and its affiliates and removes   all armed factions from the judiciary as well as consolidating social stability and encouraging The displaced people are forced to return quickly, “adding that” this agreement is supposed to be concluded several years ago in light of the need for the afflicted people of Sinjar to normalize the situation under the umbrella of the legitimate administration that has extended security and stability for many years. ”

He added that “the agreement is a new gateway to normalizing the situation in all the disputed areas,” adding that “some parties are trying to destabilize the situation in Sinjar for special interests and agendas that the people of Sinjar have paid for over the past years.”

Shamo called on all the executive parties to “abide by the provisions of the Iraqi constitution and work to implement the constitutional article 140, which is under the auspices of the United Nations,” noting that the aforementioned article “is the key to solutions to all the disputed areas crises.”

The agreement between the federal government and the Kurdistan Region regarding Sinjar provides for the removal of the armed factions from the judiciary, both local and foreign from outside the country, and managing them jointly in terms of security, administrative and service aspects between the Kurdistan Region and the federal government.

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Finance Minister: We will present the white paper for reform to the cabinet next Tuesday

10/10/2020 19:48

The number of readings 18

Section : Iraq

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Baghdad / Al-Masalla: The Minister of Finance, Ali Abdul Amir Allawi, revealed, on Saturday, October 10, 2020, the date for submitting the reform paper to the Council of Ministers and its contents.

Allawi said in a statement followed by the obelisk: “We will present the white paper for economic reform to the Council of Ministers next Tuesday.”  

He added, “The paper includes a diagnosis of the origin of economic problems and treatments that will be difficult, but there is no alternative to them.” 

Allawi said, “We have a problem in providing salaries for the remaining months of the year without voting on the borrowing law,” noting that “we will address the increase in the interest rate on bank loans by reducing it.”

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The “Iraqi Resistance” announces the cessation of its operations against the American forces

Security

breaking

USA

Iraqi resistance

Operations

2020-10-10 09:20

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Shafaq News / On Saturday, the “Iraqi Resistance” group announced a halt to military operations against American and foreign forces in the country to allow them to withdraw from the country.

This came in a statement from the Coordinating Body of the “Iraqi Resistance”, which is largely unknown. It is believed that it includes armed Shiite factions close to Iran, including the “Iraqi Hezbollah Brigades”, “Asa’ib Ahl al-Haq” and “Harakat al-Nujaba”.

In its statement, the “Iraqi Resistance” stated, “We give foreign forces a conditional opportunity – in respect of the good efforts made by some national and political figures – to set a limited and specific timetable for the implementation of the decision of the people and the parliament to expel them from the country.”

The statement warned the Americans, “a severe warning against the consequences of evasive, procrastination and procrastination in achieving the demand of the first people; otherwise, we will have to move to an advanced combat phase, taking advantage of the capabilities of the resistance in quantity and quality.”

The “Iraqi resistance” acknowledged its targeting of the American forces in Iraq, saying, “Some of your brothers took the mujahideen at the forefront of their resistance activities using simple means as a first step in a long road they had planned” after Washington did not respond to the Iraqi parliament’s decision to withdraw from the country.

She added, “The American occupier took a groan, and could not continue to endure these blows, so he resorted to the psychological war card, to change the convictions of the Iraqi society through the threat of the political and economic repercussions that could befall Iraq if Saffar is closed.”

It pointed out that “the occupier found himself unable to protect his soldiers, even in their fortified bases with the most modern air defense systems, so he started sending mediations to stop the resistance operations, even for a while.”

For months, the Green Zone (which includes government headquarters and foreign embassy missions) in Baghdad, as well as military bases hosting the international coalition forces, and convoys transporting logistical equipment, have been subjected to missile strikes and IED attacks by unknown parties.

The frequency of these attacks has clearly increased in recent weeks, but they have stopped completely since a meeting between the Deputy Chairman of the Popular Mobilization Authority, Abdel Aziz Al-Muhammadawi, known as “Abu Fadak”, with the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert on the second of the month Ongoing.

It appears that Plasschaert was mediating with “Abu Fadak” to stop the attacks against American forces and interests, after Washington threatened to close its embassy in Baghdad and impose sanctions on Iraq. 

Abu Fadak is a leader in the Iraqi Hezbollah Brigades, accused of launching attacks on American forces and interests in the country.

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Al-Halbousi directs to set a date to host Al-Kazemi and Allawi

Politics

breaking

Parliament

Al-Kazemi

Allawi

2020-10-10 07:25

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Shafaq News / Parliament Speaker, Muhammad al-Halbousi directed on Saturday to set a date to host Prime Minister Mustafa Al-Kazemi and Finance Minister Ali Allawi in Parliament.

Shafaq News Agency sender stated that Al-Halbousi directed during the parliament session to pass the article related to electoral districts, to set a date for hosting Al-Kazemi and Allawi in Parliament.

This directive comes to clarify the financial situation in the country due to the delay of the government in paying the salaries of state employees for the month of September.

Al-Halbousi also scheduled next Monday to host the Minister of Labor to answer the verbal question from Representative Hoda Sajjad.

On the topic of the session, Al-Halbousi called on the heads of political blocs to hold a meeting with members of the Legal Committee to reach understandings about the electoral districts, while the deputies were presented with criteria and proposals on the shape of the electoral district.

The parliament session was held in the presence of 209 members after its meeting was delayed for more than two hours due to side meetings of the political blocs to resolve disputes over electoral districts.

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Finance Committee: Salaries are secured for the coming months, and what happened this month will not be repeated

Editing date: 10/10/2020 10:16

Where’s News_Baghdad

The Parliamentary Finance Committee confirmed, on Saturday, that salaries will be secured for the coming months, while it announced its refusal to allow the government to borrow money without real reforms.

Committee member, Representative Jamal Cougar, said, “Salaries will be secured for the coming months, and the delays that happened this month will not be repeated, especially after the assurances launched by the prime minister,” stressing that “securing salaries means economic stability in every family.”

He added that “there are about 8 million families who benefit directly from salaries, whether they are employees, retirees, or within social care and others, such as the private sector, markets or merchants.”

Regarding borrowing, Cougar pointed out that “the Minister of Finance has every right to submit a request for borrowing, but Parliament is not ready to proceed with continuous borrowing without real reforms,” indicating that ”

He explained that “the Ministry of Finance borrowed 15 trillion dinars, and now it is looking for a new borrowing of 27 trillion dinars,” noting that “the deficit in the 2020 budget was about 81 trillion dinars, while operating expenses are estimated at 35 trillion dinars, while public revenues amount to 67 trillion dinars.” This means that the deficit funds are paid from the cash reserves and local banks.

And he stated that “the Ministry of Finance is one of the most sensitive and important ministries because it concerns all the joints of the state and segments of society, and that Parliament asked the ministry to send the 2020 budget within 3 months, but it did not send it. Also, the borrowing law stipulated submitting a reform paper within 60 days, and also did not submit it despite Since 120 days have passed, “noting that” the steps that the ministry is taking are slow and do not rise to the level of the current crisis.

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Interior Minister meets the US ambassador in Baghdad

2020.10.10 – 14:52

People – Baghdad  

On Saturday, Minister of Interior Othman Al-Ghanimi discussed a number of issues of mutual interest with the US ambassador in Baghdad, Matthew Tueller.  

The Ministry of the Interior stated, in a statement that “People” received a copy, (October 10, 2020), that “Al-Ghanmi received the US ambassador in Baghdad, Matthew Toller and his accompanying delegation.”  

The statement added, “Al-Ghanmi welcomed his guests at the beginning of the meeting and discussed with them a number of issues of mutual interest and ways to enhance them for the benefit of the two friendly peoples.”  

https://www.nasnews.com/view.php?cat=42373

Parliamentary law talks about a final agreement to divide the electoral districts into 83 districts in the Saturday session

2020/10/10 11:39

The number of readings 57

Section : Iraq

Baghdad / Obelisk: The Parliamentary Legal Committee revealed, on Saturday, October 10, 2020, that a final agreement has been reached on a proposal related to electoral districts, confirming that there is an intention to vote on it during the parliament session scheduled to be held today.

The deputy head of the committee, Muhammad Al-Ghazi, said in an interview received by Al-Masalla that the dialogues and discussions continued until late at night between the political forces in order to reach a consensual solution that serves the political process on the issue of electoral districts.

Al-Ghazzi added that a formula had been agreed upon that included dividing the electoral districts in Iraq into 83 constituencies, and each of them would contain no less than three seats and no more than five seats, taking into account the number of seats in the women’s quota.

Al-Ghazi indicated that this agreement will be voted on at today’s session.

Earlier, the advisor to the Speaker of Parliament for Component Affairs, Imad Youhanna revealed, on Wednesday, July 29, 2020, the latest developments related to the election law and the position of the political blocs on making amendments to it.

In a press statement followed by the “obelisk,” Yohanna said that the real problem behind the delay in ratifying the early parliamentary elections law is the difference between the political blocs on the multiple electoral districts.

Youhanna added that there is a move to collect signatures to amend the Parliamentary Elections Law, explaining that up to this point, the House of Representatives has not decided whether to amend the election law or vote on electoral districts.

Anbar MP Karim Aftan confirmed, Sunday, September 27, 2020, that a number of the governorate’s representatives will not vote on the multiple districts of the election law in the event of insistence on splitting some districts in the province and marginalizing certain departments.

Effatan said in an interview with media affiliated with the obelisk, that the divisions of electoral districts, which divided some districts and cities into parts, including cities in Anbar, were programmed to marginalize a certain district, indicating that Fallujah as an example, part of its neighborhoods were cut off and placed with Ramadi and another part was placed with Amiriya, although all of them Districts.

Aftan added that it is assumed that one district will be a separate electoral district and exclusively for their representatives, and that the judiciary will not be divided into fragments and attached to other districts, stressing that if this division is insisted on, we will not vote on the tables attached to the election law, and the judiciary should not be divided and that Be completely with its aspects one circuit.

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Al-Ziyadi: Today’s session will discuss the reasons for the financial request to borrow despite the availability of liquidity

Editing date: 10/10/2020 11:04

Where is the News_Baghdad

, the deputy from Basra Governorate, Badr Al-Ziyadi, said that the parliament session, to be held today, Saturday, will discuss the reasons that called the Ministry of Finance to request borrowing despite the availability of funds at the present time until December of this year 2020.

Al-Ziyadi noted during the Morning Walk program broadcast by Al-Marbad, that there are committees specialized in financial affairs that concluded that there is no need to borrow at this time, explaining that today and during the session and discussion in this regard, the motives that called the Ministry of Finance to request borrowing will be identified.

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