Al-Samarrai Calls For Reforming The Central Bank And Unifying The Exchange Rate

On November 25, 2020

Iyad Al-Samarrai

Former House Speaker Iyad al-Samarrai called for the restructuring of the central bank in line with the structures of international central banks, with the unification of the exchange rate in all banks.

“The exchange rate is very important, and any major change in the exchange rate and the float will be a disaster for the economy and its consequences will be complex and the economy will not recover for decades, an example of this is what happened in Jordan, Egypt and many other countries,” Al-Samarrai said in an article.

He pointed out that “gradual change is very important if it is necessary, as the local currency and its stability are among the most important tributaries of the economy’s strength.”

He stressed that “first the central bank must be reconfigured in line with the structures of global central banks and have a committee of experts who do not interfere in executive matters only, specializing in setting and monitoring policies, and is not subject to the government and does not interfere in its policies.”

He also stressed that “the exchange rate must be the same in the banks, as for the black market and the cancellation of exchange companies specialized in taking hard currency from the central bank and selling it in the market and the resulting great corruption.”

He called for the price to be the same in the bank and at the cashier, “taking into account the sale and purchase commission, canceling the auction of selling the currency and making it available to all banks and exchange companies and for legitimate dealings of import and export and the needs of citizens, and it is not a reason for smuggling money, especially the money of corrupt deals.”

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A call from Erbil to the international community: We want a final agreement with Baghdad

2020.11.25 – 17:07

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Baghdad – People  

The Council of Ministers of Kurdistan said, on Wednesday, that the federal government’s delay in sending part of the region’s share is a dangerous precedent and a violation of the rights of citizens, while calling on the United Nations and the international community to support efforts to reach a radical agreement between Erbil and Baghdad.  

According to a council statement, “People” received a copy of it (November 25, 2020), that “the Council of Ministers of the Kurdistan Region held its regular session headed by Prime Minister Masrour Barzani and in the presence of Deputy Prime Minister Qubad Talabani.”  

On the occasion of the International Day for the Elimination of Violence against Women, which falls today, Barzani stressed that “the Kurdistan Regional Government is committed to its position in protecting women’s rights, combating violence against them, combating all negative social phenomena, and emphasizing social equality between the sexes.”  

Barzani offered his condolences on the death of the governor of Erbil, Firsat Sofi, as well as all the families who lost their loved ones due to the Corona epidemic.  

The meeting discussed “the latest developments regarding negotiations with the federal government regarding financial rights and dues for the Kurdistan region, especially after the passage of the fiscal deficit financing law for the year 2020 by the Iraqi parliament and in the absence of Kurdish blocs.”  

The Prime Minister of the region stressed that “his government has done everything in its power, and has fulfilled all its obligations to reach a comprehensive agreement with the federal government, and is still continuing in the talks.”  

He pointed out that “the Kurdistan Regional Government is the official party concerned with negotiating with the federal government to solve the problems, and it will not compromise on the constitutional and financial rights of the people of the Kurdistan region, and he stressed that the delay in sending part of the Kurdistan region’s share is a dangerous precedent and a violation of the legitimate rights of the people of the region.”  

The Council of Ministers decided to “send an official letter in the name of the Kurdistan Regional Government to the Federal Council of Ministers requesting it to send part of the region’s share for months (5-6-7-10) because it is legitimate rights for the Kurdistan region, while the federal government did not send it even though there is no connection. It has a law on financing the fiscal deficit for the year 2020. ”  

The Council of Ministers of the region appreciated “the position of the Special Representative of the Secretary-General in Iraq, Jeanine Hennes Plasschaert, who stressed during her testimony to the UN Security Council that the employees of the Kurdistan region are not only employees of the region, but rather are Iraqi citizens, and the issue of their salaries should not be thrown into political conflicts and that citizens should not fall.” A collective victim. ”  

The Council of Ministers of the region called for “the United Nations and the international community to support efforts aimed at reaching a radical agreement between the Kurdistan Regional Government and the federal government with the aim of guaranteeing the region’s financial and constitutional dues.”  

And the region’s cabinet unanimously voted on a platform for determining the rights and privileges of the families of the martyrs and the Anfal.  

At the conclusion of the meeting, the Minister of Transport and Communications in the region, Anu Jawhar touched on “the problems related to the ownership of Christian lands in some regions of the Kurdistan region, and in light of this the Council of Ministers decided to form a committee to follow up the issue to settle these problems in a manner that takes into account and guarantees the rights of all components fairly, and puts an end to the violations in Kurdistan Region.  

The council also emphasized “the distribution of powers within the framework of the government program for the ninth ministerial formation, which emphasizes administrative decentralization to the provinces.”  

 https://www.nasnews.com/view.php?cat=46020

The regional government sends a message to Baghdad about salaries. These are its details

Time: 11/25/2020 17:27:30 Read: 1,846 times

(Baghdad: Al Furat News) On Wednesday, the Kurdistan Regional Government sent a strongly worded letter to Baghdad demanding the salaries of employees for the past four months.

A statement by the regional government, the Euphrates News received a copy of, stated that “this came during the region’s cabinet held its regular session headed by Prime Minister Masrour Barzani and his deputy, Qubad Talabani.”

On the occasion of the International Day for the Elimination of Violence against Women, which falls today, Barzani affirmed that, at the beginning of the meeting, the Kurdistan Regional Government is adhering to its position in protecting women’s rights, combating violence against them, combating all negative social phenomena, and emphasizing social equality between the sexes.

Barzani, on behalf of the Council of Ministers, once again offered his condolences on the death of the late Governor of Erbil, the late Firs Sofi, as well as all the families that lost their loved ones to the Corona epidemic.

The statement added that discussions were held about the latest developments regarding negotiations with the federal government regarding financial rights and dues for the region, especially after the passage of the fiscal deficit financing law for the year 2020 by the Iraqi parliament and in the absence of Kurdish blocs.

Barzani said that the Kurdistan region has done everything in its power, and has fulfilled all its obligations to reach a comprehensive agreement with the federal government, and is still continuing in the talks.

He pointed out that the regional government is the official party concerned with negotiating with the federal government to solve the problems, and it will not compromise on the constitutional and financial rights of the people, while stressing that the delay in sending part of the region’s share is a dangerous precedent and a violation of the legitimate rights of the people of the region.

According to the statement, the Council of Ministers decided to send an official letter in the name of the regional government to the Federal Council of Ministers requesting it to send part of the region’s share for months (5-6-7-10) because it is legitimate rights for the Kurdistan region, while the federal government did not send it despite the fact that no Related to the Financial Deficit Financing Act for the year 2020.

The Cabinet appreciated the position of the Special Representative of the Secretary-General in Iraq, Jeanine Hennes Plasschaert, who stressed during her testimony to the UN Security Council that the employees of the Kurdistan region are not only employees of the region, but rather are Iraqi citizens and the issue should not be raised. Their salaries are in political disputes and that citizens do not fall victim collectively.

The Cabinet called on the United Nations and the international community to support efforts aimed at reaching a radical agreement between the center and the region, with the aim of guaranteeing the region’s financial and constitutional dues.

The Council of Ministers voted unanimously on a platform for determining the rights and privileges of the families of martyrs and Anfal.

At the conclusion of the meeting, Minister of Transport and Communications Anu Jawhar touched on the problems related to the ownership of Christian lands in some regions of the Kurdistan Region, and in light of this, the Council of Ministers decided to form a committee to follow up the issue to settle these problems in a manner that takes into account and guarantees the rights of all components fairly, and puts an end to the violations in the region.

The Council of Ministers also affirmed the distribution of powers within the framework of the government program for the ninth ministerial formation, which stresses administrative decentralization to the provinces.

Wafa Al-Fatlawi

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New statement from the Finance Committee on the economic ‘reform plan’

2020.11.25 – 14:29

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Baghdad – People  

A member of the Finance Committee in the House of Representatives, Ahmed Mazhar al-Jubouri, confirmed, on Wednesday, that it is not possible to guarantee the success of any government plan for reform without political and popular support.  

Al-Jubouri said, in a statement, received by “People” (25 November 2020), that “everyone is calling on the government to act immediately on financial and economic reforms.”  

Al-Jubouri added, “We must deal positively with the mutual remarks about the financial and economic reform plans, and not to blame the failure and failure on one side only.”  

He pointed out that “what the country possesses in terms of large resources requires positive and fruitful cooperation from all, legislative and executive, to make great use of them, and not to rely on one party to bring money without assistance.”  

He stressed, “the necessity of positive engagement with any legislative and governmental plans and reforms on both sides and not expressing negative opinions and positions towards any reform step whose results are awaiting the people to overcome their ordeal.”  

https://www.nasnews.com/view.php?cat=46004

The Central Bank announces the formation of the Anti-Money Laundering and Terrorism Financing Council

Time: 11/25/2020 11:11:06 Read: 1,976 times

{Baghdad: Al Furat News} The Council of Ministers announced the approval of the third annual report of the Council for Combating Money Laundering and Financing Terrorism, in the presence of (Chairman of the Council – Governor of the Central Bank of Iraq).

The Cabinet called for “the Office of Anti-Money Laundering and Terrorism Financing to continue to take the necessary measures to combat money laundering and terrorist financing, in coordination with the supervisory authorities.”

The Anti-Money Laundering and Terrorism Financing Council was formed according to Law No. 39 of 2015, which is chaired by the Governor of the Central Bank and the membership of a number of ministries and agencies not associated with a ministry.

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Finance Minister: The Iraqi economy is going through unprecedented corruption

money and business

Economy News _ Baghdad

The Minister of Finance, Ali Allawi, confirmed, on Wednesday, that the Iraqi economy is going through unprecedented corruption, to the point that the employee’s seat at the border outlets is being sold between 50 and 100 thousand US dollars.

Allawi said in statements to the British Guardian newspaper, that the crises in Iraq will remain for a long time, and will continue until the price of a barrel of oil reaches $ 70, indicating that the price of oil will not rise, and solutions must be found, otherwise Iraq will be the fate of Venezuela.

Allawi added that the problems of Iraq are interconnected to the point that when a solution to one of the problems is to be found, an influential and beneficial personality emerges and impedes its achievement.

Pointing out that only 10 percent of the border crossings’ revenues, which amount to eight billion, enter the Iraqi treasury, due to corruption and influence.

https://economy-news.net/content.php?id=22884