A parliamentary condition before the vote on the share of Kurdistan in the 2021 budget

164 Policy 02/02/2021 21:52 am

Baghdad today – Baghdad

The deputy of the Al-Fateh Alliance, Mukhtar Al-Mousawi, confirmed today, Tuesday (02 February 2021), that the discussions between the federal government and the Kurdistan Regional Government on the draft budget law for 2021 have not yet been resolved.

Moussawi said in an interview with (Baghdad Today), “The discussions between Baghdad and Kurdistan are still continuing without reaching a definitive result, regarding the region’s share in the federal budget for 2021.”

He added, “Many MPs stipulated not to vote on the Kurdistan share except after paying the debts owed to Baghdad, as well as limiting the oil export process to SOMO only.”

And he indicated, “All the accounts have not been settled so far with regard to the ports and customs, therefore negotiations are still continuing, and until they reached a decision, we expect that the region did not comply with that, as happened in previous years.”

The Kurdish delegation is still in Baghdad headed by the Deputy Prime Minister of the Kurdistan government, Qubad Talabani, to reach understandings with the federal government on the agreement between the two parties and to establish the region’s share in the budget.



Al-Rafidain announces the number of deposit accounts in his vaults


Economy News _ Baghdad

Al-Rafidain Bank announced, on Tuesday, the number of accounts opened for citizens and other groups in its branches in Baghdad and the provinces during 2020.    

The media office of the bank stated in a statement that Al-Iqtisad News received a copy of, that “the number of current accounts that were opened for citizens and other groups in the past year reached 3005 accounts, while the number of saving accounts for citizens reached 21422 accounts, so that the total is 24,427 savings and current accounts. “.  

He added, “The bank continues to open accounts for citizens who wish to deposit their money in the bank and obtain interest according to conditions and controls set, and the bank’s customers can visit its branches in Baghdad and the provinces to see them.”  


Financial Advisor to the Prime Minister: Salary taxes are temporary

money and business

Economy News _ Baghdad

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that imposing taxes on salaries is a temporary measure.    

Salih told the Iraqi News Agency and his “Al-Eqtisad News”, that “administrative decisions cannot basically disrupt the application of the income tax law in force on taxpayers in general and government taxpayers in particular, and for whatever reasons, even if the income stops or falls to critical limits, then the tax rate is then zero from A cent or (negative tax), meaning that it means paying benefits to taxpayers such as social care, emergency grants, and others. ”   

Saleh pointed out that “the tax law does not suspend except by a law, and that disrupting some paragraphs of the laws in force through the annual budget law is an exceptional act and comes to temporarily strengthen the public budget resources during the fiscal year and the exception ends with the end of the fiscal year itself, in order to avoid an annual financial deficit that might compromise fiscal discipline.” Risk. ”  

He added, “Historically, the House of Representatives adopted the government’s proposal in my 2015-2016 budget to impose a temporary tax of 3.8% on the total salaries and pensions paid by the government, which was allocated at that time to support the popular crowd and the displaced in a funding pause to meet the costs of the war against ISIS terrorism, and it also included pensions.” .  

And that “this tax ended with the end of the two fiscal years at the time, and therefore imposing taxes as an exception or withholding them as an exception through the budget law is one of the temporary means, so amendments should be enacted by permanent legal legislation independent of the annual federal budget law.”  


The International Islamic Bank announces its joining of the Bani Arab Payments platform

Logo of the International Islamic Bank


Economy News – Baghdad

The International Islamic Bank announced that it has joined the Bani Arab Payments platform, which is supervised by the Arab Monetary Fund.

The bank said, on its Facebook page, seen by “Al-Eqtisad News”, “The Islamic International Bank announces the completion of all operational requirements for the connection to the Bunaa Arab Payments platform, affiliated to the Regional Corporation for Clearing and Settlement of Arab Payments owned by the Arab Monetary Fund.”

The bank added, “Bona is a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies.”

He noted that the most important characteristic of this platform is the competitive costs in exchange for the financial transfer, which will contribute to shortening the time and effort of the customer, noting that some of the features of the platform include financial transfer at reduced costs, and the transfer in Arab currencies such as the UAE dirham, Egyptian pound, Kuwaiti dinar, Jordanian dinar, Saudi riyal and international. Including the US dollar and the euro.

The bank confirmed that the service will be launched on the tenth of this month.

On January 4, 2021, the Central Bank announced the actual launch of the adoption of the Iraqi dinar in the Buna platform for inter-Arab payments.

The central bank said, “The platform works to provide real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies,” noting that “the first movement has been implemented through banks between the UAE and the Arab Republic of Egypt, in the currency of the UAE dirham.”

He added, “The Central Bank of Iraq had previously signed an agreement with a number of local banks and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund,” stressing that “work is underway to adopt the Iraqi dinar in the system for the next stage.”

He pointed out that “banks will be able to participate in Arab countries in sending and receiving payments between them in a safe and reliable manner, while this platform will help reduce recourse to international centers from correspondent banks in clearing and settling Arab payments, which will contribute to reducing the time and costs associated with banks and their customers.”


The Kurdistan Democrat: The region’s delegation’s meetings in Baghdad were positive

Political | 03:34 – 02/02/2021

Baghdad – Mawazine News, the

head of the parliamentary bloc of the Kurdistan Democratic Party, Vian Sabri, described, on Tuesday, the meetings held by the negotiating delegation of the Kurdistan Regional Government in Baghdad as “positive.”

Sabri said in an interview carried by Kurdish media, “The meetings of the Kurdistan Regional Government’s negotiating delegation with the Finance Committee in the Iraqi parliament were positive, as the delegation provided all data and details on all outstanding issues between the two sides to the committee.”

She added, “The Kurdistan Regional Government is committed to the constitution, and the Kurdistan Democratic Bloc supports Articles 10 and 11 related to the share of the Kurdistan region, which were set by the draft budget for 2021 as 12.67.”


Al-Rafidain publishes regulations and instructions for granting advances and announces their launch next week

Political | 03:14 – 02/02/2021

BAGHDAD – Mawazine News

, Al-Rafidain Bank announced, on Tuesday, that it has issued instructions regarding the process of granting personal advances to state employees, while the launch date has been set.

And the bank’s media office published the controls on credit and direct launching of advances next week through the bank’s branches located in Baghdad and the provinces.

“The new mechanism is through the installation of a new program that keeps pace with modernity, technology and development,” the office said in a statement that Mawazine News received a copy of.

He added, “His installation will take place in the bank’s branches to obtain the aforementioned advance and according to the following conditions:

– The applicant for the advance payment must have a service of no less than a year (his appointment has been confirmed)

– The amount of the advance is 5 million dinars for the segment of state employees whose salaries range Nominal + fixed allocations of (500,000) dinars or less

– The amount of the advance shall be (10) million dinars for the segment of state employees whose nominal salaries + fixed allocations are more than (500,000) dinars

– the duration of the advance is 6 years to be paid in equal monthly installments

– it is stipulated that the monthly deductions of the advance with other obligations owed not exceeding (50 percent) (From his total salary

– the borrower provides a guarantor (a civil employee from the state departments and permanent owners who have a service of no less than one year) and counter guarantees are not accepted, provided that the total deductions do not exceed (50%) of the guarantor’s total salary and is excluded from providing The sponsor is the employees whose salaries are exclusively with our bank

– insurance for the life of the borrower with a government insurance company by concluding a contract with the company by the bank’s management

– In the event that there is a previous advance, a cash or cash settlement shall be made before disbursing the advance, and the remaining amount shall be disbursed. “Ended 6/29


saleh meets with the finance committee

Author: Ahad6 On 2/2/2021 – 2:10 PM 61

The President of the Republic, Barham Salih, stressed that the budget must be approved in a way that guarantees the interests of the Iraqis.

A presidential statement stated that President Barham Salih met with the Chairman of the Finance Committee, MP Haitham al-Jubouri, and the members of the committee, where they discussed the economic challenges facing the country, in addition to the issue of the financial budget, and the importance of passing it in a way that guarantees citizens’ rights. 

During the meeting, according to the statement, it was emphasized the importance of overcoming issues facing the approval of the budget, and taking into account ensuring that the interests of citizens are not disrupted, in addition to ensuring the rights of all governorates according to their needs and conditions, allocations of the petro-dollar fund, redress for victims of terrorism, displaced persons and low-income classes, and the provision of financial support. Necessary for the security services from the army, the popular mobilization, the police and the peshmerga, for the great role they play in confronting terrorism and protecting the security of citizens.

The efforts made by the Parliamentary Finance Committee and members of Parliament in the discussions on the budget in order to pass it in a way that guarantees the rights of all citizens and all governorates were commended.

The President of the Republic affirmed that these considerations must be present in the budget and a path to debate about it, and the need to exclude political issues in it, and to focus on the need to reach just and legal solutions that preserve the rights of the Iraqi people, employees and retirees throughout the country, including the Kurdistan region.

Regarding the outstanding issues between the federal government and the Kurdistan Regional Government, Barham Salih stressed the importance of reaching radical and serious solutions within the framework of the constitution, accompanied by a real reform process on the ground as a fundamental pillar for finding a final solution to the suffering and problems of all citizens in the country and the Kurdistan region.

He stressed that achieving economic and security stability and providing decent living conditions for citizens is closely linked with continuing work to combat corruption, close its outlets, recover smuggled money, and hold the corrupt accountable.