Kurdish Parliament: A new round of talks for the Kurdish delegation in Baghdad next week

Political | 07:16 – 22/03/2021

BAGHDAD – Mawazine News

, a deputy from the Patriotic Union of Kurdistan bloc revealed, on Monday, a new round of talks for the Kurdish delegation in Baghdad next week.

Deputy Balisa Jabbar Farman said on her page on the social networking site “Facebook”, that “Brother Qubad Talabani was aware of the great task that was placed upon him upon assuming the duties of the Deputy Prime Minister of the Kurdistan Regional Government and that he would be subjected to many criticisms, and the biggest criticism was about his leadership of the negotiating delegation and his visits. Recurring to Baghdad. ”

She explained: “I believe that despite all these criticisms and the great hardship that he is enduring, the continuation of Brother Qubad Talabani and the ministers of the National Union in dialogue and negotiation indicates the keenness of the National Union and its cadres on the future of the Kurdistan region and the living conditions of the citizens.”

And she continued, “The accumulated outstanding problems between the Kurdistan Regional Government and the federal government are not being dealt with from inside the offices and behind the computers. The important thing for the Patriotic Union of Kurdistan is to address the problems and improve the living conditions of citizens, and the negotiating delegation, despite spending more than 185 hours of dialogues, is ready to return to Baghdad next week and continue.” Negotiations under the dome of the House of Representatives are to heal the rift and address the differences, and this indicates eagerness and sincerity. ” Ended 29 / A43

https://www.mawazin.net/Details.aspx?jimare=146617

He revealed the date and objectives of the visit of Sisi and Abdullah II to Baghdad

Politics

Iraq

Egypt

Jordan

Triple top

2021-03-22 12:21

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Shafaq News / An Iraqi government source revealed, on Monday, the date and objectives of the visit of Egyptian President Abdel Fattah Al-Sisi and King Abdullah of Jordan to the Iraqi capital, Baghdad. 

The source told Shafaq News, “Egyptian President Abdel Fattah Al-Sisi and King Abdullah of Jordan will visit the Iraqi capital Baghdad at the end of this month to hold a tripartite summit with Iraqi Prime Minister Mustafa Al-Kazemi.”

The source added, “The aim of the summit is to develop the new Mashreq project, which includes building an independent political, economic and security axis in the region.” 

He pointed out that “the essence of the project that the three countries are working on is the new orientation that Prime Minister Mustafa Al-Kazemi announced during his visit to Amman and his participation in the tripartite summit that was held there.”

 The first summit between the three leaders took place in the Jordanian capital, Amman, on August 28, and a joint coordination council emerged from it.

The General Secretariat of the Iraqi Council of Ministers announced in a statement in the first of last year, that another summit of the leaders of Iraq, Egypt and Jordan would be held in Baghdad during the first quarter of this year.

The three countries concluded joint economic agreements and other bilateral agreements with each other, focusing mostly on energy, trade and investment.

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In preparation for a tripartite summit … Iraq discusses activating industrial cooperation with Egypt and Jordan

Time: 03/22/2021 17:56:17 Read: 624 times

{Economy: Al Furat News} The Minister of Industry and Minerals, Manhal Aziz Al-Khabaz, discussed issues related to the economic city and the Iraqi-Jordanian-Egyptian industrial integration.

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A statement of his office, of which {Al Furat News} received a copy, stated that “Al-Baker discussed during his attendance a meeting that included the Secretary General of the Council of Ministers and a number of ministers and officials concerned a number of files and issues related to the activation and integration of industrial cooperation between Iraq, Egypt and Jordan, and joint industrial activities.”

He added, “The attendees also discussed the paragraphs of the Iraqi-Jordanian-Egyptian Tripartite Coordination Council in light of the preparations for the upcoming tripartite presidential summit.”

Wafa Al-Fatlawi

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The Kurdistan Democratic Party (KDP) reveals an evolution in the draft budget and allocating 15 billion dinars to Halabja

Politics

breaking

Budget project

Kurdistan Democratic Bloc

2021-03-22 10:08

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Shafaq News / The Kurdistan Democratic Party bloc revealed, on Monday, the allocation of 15 billion dinars to Halabja as part of the budget law, which confirmed that the agreement between Baghdad and Erbil regarding the project has not collapsed.

The deputy head of the parliamentary party bloc, Bashar al-Kiki, told Shafaq News that the original agreement was based on the proposal of the Shiite blocs, and the regional government delegation accepted it and was approved by the Parliamentary Finance Committee by vote, but an amendment occurred in two paragraphs during the printing of the decision, contrary to what was voted on. .

“We consider this amendment as a violation of the agreement between the two sides first, and a slight retreat by the Shiite blocs, secondly,” he added.

“The presidency of the Council and the heads of the Shiite blocs assured the Kurdish delegation during congratulations on Nowruz in the office of the Vice President of the Council, that the amendment that took place in some paragraphs and the wording will not affect the origin of the agreement between the two sides and can be dealt with without any difficulties.”

Al-Kiki stressed that “legally, the Parliamentary Finance Committee adheres to the text of Article 11 voted upon and will be presented as it is without modification, indicating that the aim is to postpone the budget voting session to reach a Shiite consensus on a number of contentious issues between them.”

Al-Kiki revealed that the Finance Committee approved an amount of 15 billion dinars for Halabja Governorate from transfers at the request of the Kurdish representatives, pointing out that the Kurdish forces have repeatedly demanded that the rights and entitlements of Halabja victims be included in the budget in accordance with the law amending the Rafha and Halabja Victims Law of 2003, but it has not been decided upon. From the Financial Commission for no reason.

He praised the decision of the House of Representatives, which stressed the need to complete and accelerate the procedures for converting Halabja into a governorate.

The Iraqi parliament had failed to vote on the federal budget bill for 2021, following the continuing disagreements over some items.

The budget allocations are estimated at 130 trillion Iraqi dinars (about $ 89.6 billion).

Article 11 of the draft budget relates to the share of the Kurdistan Region, and stipulates that it will deliver 250 thousand barrels of oil per day, with tax revenues to Baghdad, in return for receiving 12.6 percent of the budget.

However, some political blocs are demanding that the article be amended to include a text that holds anyone who decides to spend these funds to the region legally responsible if their oil is not delivered to the federal government.

Political blocs also reject what was stipulated in the budget to exclude a segment of citizens whose monthly salaries exceed 1.5 million dinars (about $ 1030) from benefiting from the ration card, which is a program for the distribution of food rations to the population that has been followed since the imposition of the blockade on the country in the 1990s.

And other blocs refuse to vote on the budget if the exchange rate of the dinar against the dollar is not modified, by returning it to its normal state of 1168 thousand dinars per ($ 100) instead of 1450 per ($ 100).

Iraq relies on oil sales revenues to finance about 95 percent of state expenditures, and is suffering from a stifling financial crisis, as a result of the decline in crude prices under pressure from the Corona pandemic.

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LATE CHANGE TO ERBIL-BAGHDAD DEAL THREW BUDGET AGREEMENT INTO DISARRAY: MP

Flags of Iraq and the Kurdistan Region (File)

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SULAIMANI — Explaining to reporters how an apparent breakthrough in tense budget talks unraveled over the weekend, Rapporteur of the Council of Representatives’ Finance Committee Ahmed Safar alleged on Sunday (March 21) that an additional section was added to the agreement reached between Erbil and Baghdad without the approval of the parties from the Kurdistan Region.

The deal had been that the Kurdistan Region would submit 460,000 barrels of crude oil per day to the federal government’s oil marketer SOMO in return for 12.67 percent of the federal budget, so that Kurdistan Regional Govern (KRG) could pay public sector salaries and fund other government programs.

In the event of a disagreement, the initial deal said that Baghdad would continue to send money for salaries as it had between January 2019 and April 2020, even if it penalized the KRG by cutting funding for operational expenditures.

The change altered this to say that Baghdad could cut transfers for salaries as well, which mirrors situation since April 2020, Safar told a press conference.

The Kurdistan Democratic Party (KDP) lawmaker said that the budget is meant to benefit the entire country, not just a group of party elites.

Safar also argued that problems between Baghdad and Erbil are not wholly responsible for derailing the budget vote, which had been scheduled for last week, saying that lawmakers from the Shia and Sunni blocs were unhappy about the devaluation of the Iraqi dinar and the budget shares allocated to their governorates.

Council of Representatives lawmaker Muthanna al-Samarai on Sunday called on Parliament to deal with the Federal Budget Law “seriously” and hold a vote.

“Disagreements between the political blocs in the Council of Representatives is what is delaying the passage of the budget,” al-Samarai, who represents Saladin governorate for the Sunni bloc’s Civil Track Party, said during a televised interview.

The vote on the budget has been postponed until March 27.

(NRT Digital Media)

nrttv.com

Member in Parliamentary Finance: Obstacles to the Baghdad-Kurdistan Agreement on the Budget

Time: 03/22/2021 12:29:39 Read: 2,275 times

{Economical: Al Furat News} A member of the Parliamentary Finance Committee revealed obstacles to the agreement of the two federal governments and the Kurdistan region.

Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here 

Qubad Talabani, Deputy Prime Minister of the Kurdistan Regional Government, had headed the region’s delegation in a series of Marathon negotiations that began about two years, in order to address the financial disputes between Erbil and Baghdad.

Committee member Shirwan Mezra said in a press statement, “The delegation returned to the Kurdistan region after it had gone a long way in negotiations with officials in Baghdad, explaining that the delegation would return to the capital, Baghdad, before voting on the draft federal budget law early next week.”

He added that “new obstacles occurred to the project after the Finance Committee voted on Article 11 regarding the Kurdistan region’s share of the budget, expressing optimism that an agreement will be reached soon.” 

Forgiveness Al-Khalidi

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The President of the Bahrain Banks Association participates in a seminar for the Association of Iraqi Private Banks on Arab banking and investment cooperation

The CEO of the Bahraini Al Baraka Banking Group, Adnan Yousef. “Internet”

Banks

Economy News – Baghdad

The Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Yousef, participated in a seminar organized by the Iraqi Private Banks Association, with the participation of the Governor of the Central Bank of Iraq, Mustafa Ghaleb, the Governor of the Central Bank of Jordan, Ziyad Fariz, the Chairman of the Association of Banks, Wadih Al-Handal, and a number of Arab banking and economic leaders, by video call on the 21st March 2021. 

The symposium dealt with many important issues such as the impact of the Corona pandemic on Arab banks, strategies for dealing with troubled assets, in addition to ways to enhance Arab banking and investment cooperation, overcoming obstacles facing inter-Arab investments and attracting foreign investments.

During the symposium, the Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Youssef, presented a research paper in which he explained his vision of the issues on the agenda of the symposium, where he stressed that “the impact of the Corona pandemic on Arab financial and banking institutions will be profound, and it will be expected that the profitability of financial institutions and others will decrease last year.” During this year, the quality of some financing portfolios has also deteriorated, especially for clients in the most affected sectors such as aviation and tourism, as well as some disruptions in corporate financing lines and the tendency of individual clients to withdraw their deposits, all of which will create temporary pressures on financial institutions.

He added, “What is comforting is the wide response of Arab central banks to these repercussions and their taking many measures that support banks in facing them, as well as the broad economic and financial packages provided by Arab governments to support the affected groups and sectors, and the consensus and determination of the worlds to return the economy to its natural path, whether at the global level.” Or at the level of each country separately, by expanding the provision of vaccines at the present time. ”

He pointed out that “of course, banks and financial institutions, and even commercial institutions in light of such situations, that is, situations of global crisis, begin to activate emergency plans to ensure business continuity at all operational and technical levels, and to continue providing services to all customers, securing financing lines and intensifying Monitor customer portfolios and others. ”

With regard to strategies for dealing with the main challenge facing banks and financial institutions at this stage, which is the rise in bad debts due to the negative repercussions that the pandemic has generated on economies, companies and individuals, Youssef explained that “increasing bad loans is a serious risk that should not be underestimated, but facing this challenge.” It is not the responsibility of the banks alone, but also of the supervisory authorities and the overall policies of the government. ”

He added, “On the first level, which are the measures and strategies that banks must take, banks must develop comprehensive strategic plans detailing how they deal with this debt in a systematic manner, including planning processes for identifying bad debts in the financing portfolio and dividing the portfolio into similar groups of loans. Within the portfolio, to be able to direct efforts and to accommodate different types of business strategies to preserve value, identify recovery methods, and establish early warning systems.

As for the second level: measures and strategies that must be taken by the supervisory authorities, Youssef believes that “the supervisory authorities must provide encouragement and direct the banks to review, evaluate and address the quality of their assets, especially their financing portfolios, as well as directing shareholders and management to establish specialized units with relevance. Appropriate human and technical resources within banks to supervise bad loans and seek solutions to get rid of these loans.

As for attracting foreign and Arab investments, he indicated that “Arab countries’ shares of foreign direct investments still represent a small percentage of the volume of foreign direct investments in the world, as this percentage is less than 1% for all Arab countries. ”

I bought that “attracting foreign investment is not an easy process, and it needs coordinated national efforts, legislation, incentives and a safe investment environment. Therefore, Arab countries, in addition to the well-known measures related to improving the investment environment and climate, should first work to launch the free movement of capital in foreign currencies.” Second, giving freedom to establish companies either in local currencies or in foreign currency or both, and when capital increases for existing companies are given the freedom to do so in order to avoid losses of currency depreciation, which they suffer in many Arab countries.

He continued: “Third, allowing companies to increase their capital by issuing sukuk in local or foreign currency. Fourth, not to take sudden measures affecting these investments, such as imposing additional fees or expenses. Fifthly, seeking to stabilize the movement of local currencies against foreign currencies. Red tape and costly government procedures when establishing new businesses.

https://economy-news.net/content.php?id=24558

The Central Bank adds a new feature to the Iraqi banknotes

Local currencies

Banks

Economy News – Baghdad

The Central Bank of Iraq announced, on Monday, that it has added a feature to protect banknotes from bacteria and viruses to the national currency. 

The Central Bank said in a statement received by “Economy News”, that it “added the feature of protecting banknotes from bacteria and viruses, including the Corona virus strain,” indicating that the protected currency “will soon be put into circulation.”

They revealed that the currency had been added to “the biological pesticide developed by international companies specialized in printing banknotes in coordination with the competent authorities.”

https://economy-news.net/content.php?id=24556

The Prime Minister comments on the possibility of Parliament changing the dollar exchange rate

2021/03/22

 

Baghdad / Al-Mawred News

Today, Monday, a spokesman for the Prime Minister’s Office affirmed that Parliament has the right to express its opinion on the exchange rate of the dollar, “but its decision is not binding.”

Culture Minister Hassan Nazim said, in a press statement, that the parliament has the opportunity to express its opinion on the exchange rate of the dollar and change it within the budget, but its decision will not be binding on application by the government because the price change is related to the government and the Central Bank, which set the dollar exchange rate at 1450 dinars.

Nazem explained that it is the responsibility of Parliament to decide whether to approve the budget and pass it, or to make amendments or changes to it.

Nazem also said that the federal government has accomplished what is required of it in the budget file 3 months ago and now work is entrusted to Parliament in all respects, indicating that the government can help facilitate matters or conduct interpretations and negotiations on some files.

The Parliamentary Finance Committee confirmed, yesterday, Sunday, that the Central Bank of Iraq will appeal the draft federal budget in the event that Parliament changes the exchange rate of the dollar.  

Representative Muhammad Shi`a al-Sudani announced the demand of more than a third of the members of the House of Representatives to return the dollar price to what it was, and publish the names of the signatures of 120 deputies demanding that.

The Central Bank of Iraq and the Ministry of Finance approved a new exchange rate for the American dollar at 145 thousand Iraqi dinars, after it was 125 thousand dinars, amid popular and official criticism of this measure, at a time when Parliament and the Finance Committee vacated their responsibility to throw the ball in the court of the bank and the ministry because the decision is within their jurisdiction.

https://almawrid.news/contents/view/details?id=29170