Al-Kazemi’s advisor denies the existence of fraud in the elections.. Final results next Friday

10/14/2021 20:49

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  • Section : Iraq

Baghdad / Obelisk: The Prime Minister’s Adviser for Elections Affairs, Hussein Al-Hindawi, confirmed, Thursday, October 14, 2021, that the final results will be announced at noon Friday, noting that we and the Independent High Electoral Commission are working hard all day long to finalize the issue of results.

Al-Hindawi said in a statement to the Rudaw Network, which he followed to the Obelisk, that the final results do not differ from what was announced from the preliminary results, noting that the officials of the Electoral Commission are now working on sorting and counting the ballot boxes, which are hovering over some problems and doubts, and I believe that these will only change a few simple numbers in the results. Distributed to everyone and as a result there are no surprises related to the results.

Al-Hindawi denied any fraud or violations of the electoral process, which went smoothly, stressing that these elections used very advanced equipment and from a technological point of view, the preparations and electoral processes are very good compared to other previous elections. 

He pointed out that the issue of complaints and appeals is a normal thing that occurs in every special election from parties that believe that they have lost a number of their seats in the upcoming Iraqi parliament, but the Electoral Commission is keen to adhere to the aspect of integrity and it is not in its interest to take sides with any party, and we have sought from the beginning to make this success The election.

He added that the hall is crowded with international observers, Arabs and Iraqis, representatives of electoral blocs and the media, and all operations are conducted with complete transparency in front of everyone.

He concluded his speech by saying: Tomorrow we will finish the results and after ratification, they will be sent to the Federal Court, and any party has the right to submit its objections through legal means.

The preliminary results of the elections revealed that the Sadrist movement, led by Muqtada al-Sadr, won the highest number of seats in the Iraqi parliament, with 73 seats.

The Taqaddam party led by Muhammad al-Halbousi came in second place after winning 38 seats.

The State of Law bloc, headed by former Prime Minister Nuri al-Maliki, came third with 37 seats.

On Wednesday, October 13, 2021, the National Coalition issued a strongly worded statement regarding the results of the parliamentary elections, while the coalition held the government and the Electoral Commission fully responsible for that.


Al-Kazemi warns against any attempt to deviate from the legal contexts in dealing with the election results

politicsIraqbreakingAl-KazemiThe election 2021-10-14 07:39A-AA+

Shafaq News/ The caretaker prime minister, Mustafa Al-Kazemi, warned on Thursday of what he called attempts to deviate from legal contexts in dealing with the results of the recent legislative elections in Iraq.

Al-Kazemi said in a speech during the cabinet session of the caretaker government, that “these elections have no losers and everyone is a winner, because the competition in them was for the service of Iraq.”

He added, “We must reconcile with ourselves and with society, and open a new page in our political and social life.” 

Al-Kazemi added, “I call on those who have an appeal to submit it, and to follow the approved legal contexts and frameworks,” calling on the Independent High Electoral Commission and the judiciary to “realize the rights of all on an equal basis.”

He continued by saying, “Yes, every entity or personality has the right to submit appeals, and the Commission must follow up the appeals in all seriousness, and we warn against any attempt to deviate from the legal contexts in dealing with the election results.”

The Second Central Bank Strategy (2021‐2023) An Approach to Monetary and Financial Reform


Samir Al-Nusairi*

The Central Bank of Iraq launched its second strategy for the years (2021-2023) in conjunction with the economic and financial reform strategy adopted by the government in the white paper. The new strategy has drawn a road map with clear objectives and policies for the next three years in a special, complex and risky economic and financial situation.

And the challenges at the level of internal and external economic and financial relations. What concerns us as specialists in economic, financial and banking affairs is what are the new mechanisms and policies adopted by the Central Bank in monetary policy and banking reform in accordance with the approach of fundamental change desired for the national economy contained in the white paper and the second strategy, which constitutes the banking sector the link The first and basic in the economy and the implementer of monetary policy applications.

The strategy of the Central Bank set the main objectives at 15 objectives and the subsidiary objectives by 75 objectives and charted the way for banking reform in accordance with the following strategic objectives:-

1- Supporting and achieving monetary and financial stability.

 2- Enhancing and strengthening the banking sector and financial institutions.

3- Enhancing digital transformation in the central bank and the banking sector.

4- Developing the organizational structure and human resources of the Central Bank.

5- Activating and integrating the internal and external relations of the Central Bank.

Since these strategic goals have been set for a period of three years to achieve the main and subsidiary goals, which emphasize the protection of the financial system, the strengthening of financial inclusion, the management of monetary and financial stability, the development of control and supervision, the development of regulation in the banking sector, and the completion of the development of the monetary structure in the Central Bank and its branches in accordance with work frameworks and techniques authorized in central banks, development of human resources, development of banking operations, strengthening of the bank’s internal and external relations, and its representation locally and internationally. Through the analysis of the mechanisms and action points to achieve the above goals, we note that the strategy identified the planning team, the implementation team, the implementation mechanisms and responsibility, as well as clear priorities for achieving reform. Certainly, these priorities were diagnosed in light of the challenges they face.

Monetary policy and the banking sector due to the suffocating economic and financial crisis that Iraq has suffered for subjective and objective reasons, which can be diagnosed as follows:-

* Work to achieve the objectives of monetary policy, the most important of which is the stability of the exchange rate, the preservation of the purchasing power of the Iraqi dinar, the inflation rate, and the building of a foreign cash reserve.

* Work to restore the confidence of citizens and customers in the Iraqi banking sector.

* Work to increase the percentage of savings for the monetary mass in circulation in banks to the percentage of hoarding outside banks, where the percentage of savings in the banking sector does not exceed 20%, and the percentage of hoarding is up to 80%. Increasing the percentage of financial inclusion and the delivery of banking services to the widest spread of geographical area at the level of governorates and districts aspects and the increase in banking density in this direction.

* The need to complete the structural and technical foundations of proactive control.

* Activate and reconsider the development of work mechanisms in the Deposit Insurance Company.

 * Reconsidering the laws of the legislative environment that regulate banking work.

* Reviewing and evaluating the results of banks’ business and re-classifying them by accredited international companies. And to identify weak banks that need the intervention of the Central Bank of Iraq to rehabilitate them, restore their activity and protect them from bankruptcy.

* Demanding government support in accordance with previous decisions and instructions issued by the Council of Ministers, the Economic Affairs Committee and the Ministerial Council for Economy.

* Strengthening and activating the central bank’s lending and financing initiatives for small, medium, housing and large projects, in a way that contributes to stimulating the economy, revitalizing the economic cycle and diversifying the resources of the public budget.

* Developing the organizational, technical, and administrative structure of the Central Bank of Iraq and government and private banks, while emphasizing the principles of governance and determining the owners’ intervention in the banks’ executive departments.

Therefore, and for the purpose of applying the banking reform approach, according to what was stated in the strategy, according to an insight into the priorities and challenges that the Iraqi banking sector suffers from, the Central Bank made exceptional efforts during this year 2021, and many goals were achieved from the main and subsidiary goals, and it is trying to complete the achievement of all goals in 2023, which is the last year of the strategy.

Therefore, the strategy of the Central Bank has proven that it established, planned and identified advanced steps on the path of the systematic application of the desired banking reform.

The Iraqi market will stop trading next Monday

Iraq Stock ExchangeMarket

Economy News – Baghdad

The Iraqi Stock Exchange announced, on Thursday, that the next Monday session will not be organized.

The market said in a statement seen by “Economy News”, that it will not organize a trading session on Monday, 10/18/2021, “to coincide with an official holiday on the occasion of the Prophet’s birthday.”

The market confirmed that the trading sessions will resume as of Tuesday 19/10/2021.

Al-Sadr announces his negotiating committee for Iraqi political parties

politicsbreakingthe chestbargaining committeepolitical parties 2021-10-14 06:25A-AA+

Shafaq News/ The leader of the Sadrist movement, Muqtada al-Sadr, announced on Thursday his special committee to negotiate with political parties that would establish parliamentary alliances in preparation for the formation of the new federal government in Iraq.

The committee is composed of: Hassan Al-Adhari as its chairman, Nassar Al-Rubaie as first vice-chairman, Nabil Al-Tarifi as second deputy, and Hakim Al-Zamili supporting the committee, according to a statement issued by Al-Sadr and signed by him.

In the statement, Al-Sadr addressed the political parties, saying that this negotiating committee “represents him exclusively.”

He added that “the committee has full powers in the matter of parliamentary political alliances at this stage,” adding, “that they return to us (i.e. members of the committee) in the tasks of their affairs and avoid alliances with those we have comments on.”

Al-Kazemi’s advisor: The new Central Bank’s instructions regarding the sale of the dollar came to combat money laundering

economybreakingcoin sale auctionCentral Bank of IraqAl-Kazemi’s advisor 2021-10-14 06:20A-AA+

Shafaq News/ The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed on Thursday that the new instructions of the Central Bank regarding the sale of foreign currency come within the framework of combating money laundering.

Saleh said in an interview with Shafak News Agency; “The new instructions of the Central Bank regarding the sale of foreign currency come within the framework of combating money laundering, by increasing the procedures for checking and disposing of foreign currency,” noting that “there is a lot of talk being said about the currency auction and the money that comes out of it.”

Saleh added that “the Central Bank is keen on the foreign currency to go to the beneficiary that benefits the Iraqi economy through high governance and transparency, which is a global international context, not just Iraqi,” noting that “not to fear these instructions as long as the transactions are sound and clean.”

And he indicated that “the existing foreign currency in terms of reserves is high and large, and there is no problem in meeting the demand through the auction,” noting that “these procedures in checking the currency’s disposal is a measure to address illegal operations and is part of national security.”

Saleh stressed that “there is no fear of the Central Bank’s measures as long as this currency is going in the right way,” noting that “the prior fear of that is unnecessary as long as the transactions presented for the purpose of buying the currency are clean.”

A number of exchange offices expressed their fear of a rise in the dollar exchange rate after the new strict instructions of the Central Bank to sell foreign currency through its daily auction, which will be implemented on the 17th of October.

It is noteworthy that the Central Bank issued on September 26, new instructions for the sale and purchase of foreign currency for authorized banks and mediation companies, which will be applied as of October 17, indicating that the goal behind this is to maintain the stability of currency exchange rates and adhere to the requirements of the Anti-Money Laundering and Terrorist Financing Law.