Baghdad – Mawazine News , MP Mishaan al-Jubouri revealed, today, Tuesday, the existence of direct dialogues between the various political parties after regional and international understandings, indicating that it is possible to end the political blockage.
Al-Jubouri wrote in a post on Twitter, according to data and evidence, that I can say that regional and international understandings have begun to reflect positively on the political situation in Iraq.
He added, “These understandings led to direct dialogues between the different parties, which could end the state of political blockage.” Ended 29 / p. 87
Baghdad / Obelisk: The Deputy Governor of the Central Bank, Ihsan Al-Yasiri, said, on Tuesday, that there is oversight from the Central Bank on private banks.
Al-Yasiri said during a television interview that “the government system accounts for 85 percent of deposits and the public,” noting that “after 2003, we have a large number of banks, some of which are private, which are excellent and have reached stages in digitization and the digital economy.”
He added, “We have supervision and an attempt to push some banks to be good and rise to the required level, as we focused on controlling the banks’ behavior.”
He also said: “We have 70 private banks, more than half of the number are excellent, while the government has seven banks, namely: Al-Rasheed, Al-Iraqi Trade, Al-Rafidain, Al-Nahrain Bank, which is a model for Islamic banking, and the Housing Fund, while the Industrial Bank is doing well.”
Al-Yasiri revealed that “the enforcement of the law for loans confirms the existence of a guarantee for any dinar that is loaned, and the one who does not have an income from a fixed source must provide a guarantor – the cost of lending is very high, and when there is an interest of 8% on the loan, it is very expensive, but if the limits of risks increase, they may increase.” .
He added, “The Rafidain Bank granted loans to large institutions, and there is a loss of up to 6 trillion dinars in these loans due to the pressures of increasing the interest rate, but part of the risks of non-payment are avoided through them.”
The Deputy Governor of the Central Bank said: “We have 76 trillion dinars as a source of circulation, 20% of which are deposited in banks, and 80% of them are stocked houses, and this is a deprivation for society.”
He added, “Hoarding money in homes, which is behind the mistrust of some citizens in banks, regardless of whether they are private or governmental, is a high risk, as these funds may be exposed to damage, burning or theft.”
And he stated, “The Central Bank has set strict standards to control the behavior of banks and we are witnessing a development in performance, knowing that the banks’ control has 3 tracks, the first is improving performance, merging the bank, or withdrawing the bank’s license if the reluctance continues.”
He said, “The government system acquires 85 deposits and the public,” noting that “after 2003, we have a large number of banks, some of which are private, which are excellent and have reached stages in digitization and the digital economy.”
He added, “We have supervision and an attempt to push some banks to be good and rise to the required level, as we focused on controlling the banks’ behavior.”
He continued, “We have 70 private banks, more than half of the number are excellent, while the government has seven banks, namely: Al-Rasheed, Al-Iraqi Trade, Al-Rafidain, Al-Nahrain Bank, which is a model for Islamic banking, and the Housing Fund, while the Industrial Bank is doing well.”
Al-Yasiri stressed that “the enforcement of the law for loans confirms the existence of a guarantee for any dinar that is loaned, and the one who does not have an income from a fixed source must provide a guarantor – the cost of lending is very high, and when there is an interest of 8% on the loan, it is considered very expensive, but if the limits of risks are increased, the risks may be increased.” interest rate increases.
He pointed out that “the Rafidain Bank granted loans to large institutions, and there is a loss of up to 6 trillion dinars in these loans due to the pressures of increasing the interest rate, but part of the risks of non-payment are avoided through them.”
In an aspect related to the economy, the World Bank expected that Iraq would rank first in the Arab world with the largest growth in GDP and per capita for the year 2022, as indicators confirm that Iraq has achieved a very promising and positive percentage regarding recovery from all the recent crises that faced the world such as the spread of the Corona pandemic, and the decline Oil prices.
Economists at the World Bank expect, according to its report published this April, that “Iraq’s gross domestic product may grow this year by 8.9%, surpassing the rest of the Arab countries, including Qatar, which is expected to witness a growth of 4.9%, Saudi Arabia 7%, and Kuwait 5.7% UAE 4.9%, Algeria 3.2%, Egypt 5.5%, Jordan 2.3%, and Morocco 4.3%.
The report added, “The growth will decline in Iraq in 2023, but it will also remain higher than the rest of the Arab countries, except for Egypt,” noting that “the growth of Iraq’s GDP will be 4.5%, similar to Qatar, and it will rise in Egypt to reach 5%, and Saudi Arabia will have 3.8%.” Kuwait 3.6%, Algeria 1.3%, Tunisia 3.5% and Jordan 2.3%.
The World Bank report indicated that “Iraq will also be the highest among the Arab countries in terms of per capita GDP growth during 2022, at 6.3%, while the per capita growth in Saudi Arabia will be 5.5%, Kuwait 4.5%, Bahrain 1.4%, and Egypt 3.6% Qatar will drop by 4.5%, while Morocco will decrease by 0.1%.
Baghdad / Obelisk: The Central Bank of Iraq announced, on Tuesday, April 19, 2022, that its cash reserve has risen to more than $70 billion, while noting that its initiatives to support the economic sectors amounted to 15 trillion dinars.
The Deputy Governor of the Central Bank, Ihsan Al-Yasiri, said during a televised interview, which was followed by the obelisk, that one of the functions of the Central Bank is to monitor the banking sector, indicating that the government banking sector used to acquire 85 percent of the deposits of institutions and the public.
He added that the economic function of banks requires the separation of ownership from management, pointing out that the Central Bank has focused in the recent period on the behavior of banks.
He continued: We have more than 70 banks, 7 of which are governmental, and half of them are within the excellent level, stressing that the banks face a major problem in law enforcement.
He explained that banks’ risks in loans increase by 30-40%, noting that the interest rate rises with the rise in risks.
He stressed that the initiative of the Central Bank for the housing sector is interest-free and the rest of the sectors in varying proportions, indicating that more than 46 trillion dinars are central bank loans to the Ministry of Finance.
He pointed out that the 5 trillion initiative amounted to 9 trillion dinars, and all our initiatives amounted to 15 trillion dinars, explaining that construction loans for citizens are without interest.
He concluded his speech by saying that the Central Bank’s reserves exceeded 70 billion dollars.
Shafaq News / The Prime Minister of the Kurdistan Region, Masrour Barzani, met today with the UK’s Minister of State for Business, Energy, and Clean Growth, Kwasi Kwarteng.
A statement reported to Shafaq News agency said that the two parties discussed ways to enhance bilateral relations between the two countries, especially in the energy field.
PM Barzani and the British minister focused on the need for reform in the Kurdistan Region’s banking sector, and benefit from the UK’s experience in the fields of finance and clean energy, according to the statement.
Baghdad – Mawazine News , Prime Minister Mustafa Al-Kazemi chaired, on Tuesday, the fifteenth regular session of the Council of Ministers. The session witnessed a review of the epidemiological report, the measures taken to confront the Corona pandemic, and the developments of the work of the Committee to Strengthen Government Actions in the areas of prevention and health awareness control; To limit the spread of the virus, and the procedures of the Ministry of Health in preparing all the required medical supplies, in addition to the ministry’s efforts to secure vaccinations for citizens and in large quantities through vaccination outlets throughout Iraq: After the Council of Ministers discussed the topics on the agenda, it issued the following decisions: First/ The Ministry of Finance undertakes financing (1,500,000) dinars, only one billion and five hundred million dinars, to the Ministry of Health, to treat the wounded in demonstrations outside Iraq, in implementation of paragraphs (1 and 2) mentioned in the Federal Financial Supervisory Office book No. (1/1/15/) 2443) of February 3, 2021, attached to the Council of Ministers Resolution (15 of 2022). Second / Approval of authorizing Hani Musa Badr, Undersecretary of the Ministry of Health for Technical Affairs, the authority to sign a draft memorandum of understanding between the Ministry of Health in the Republic of Iraq and the Embassy of the United Arab Emirates in Baghdad, regarding the grant of Sheikh Mohammed bin Zayed Field Hospital with a capacity of 205 beds to treat patients in Baghdad Taking into account the opinion of the legal department in the General Secretariat of the Council of Ministers. Third / Approval of the recommendation of the Ministry of Foreign Affairs regarding the approval of the re-representation of diplomatic representation in the Republic of Vietnam to be a resident representation as it was previously, instead of the non-resident representation and the reopening of the Iraqi embassy in Hanoi, based on the provisions of Articles (25 and 26) of the Foreign Service Law ( 45 for the year 2008), provided that its opening does not lead to an increase in the number of workers in diplomatic missions. Fourth / Approval of authorizing the Minister of Finance or whomever he authorizes to sign a two-grant agreement with the World Bank as follows: 1- A grant to support higher education in Iraq in the amount of (5,000,000) dollars, only five million dollars for the benefit of the Ministry of Higher Education and Scientific Research aimed at raising the employment of graduates and linking universities to the labor market. 2- The grant for innovations for education in the Iraqi governorates that lags behind other governorates in the amount of (10,000,000) dollars, only ten million dollars aimed at strengthening the educational practices of mathematics and Arabic language teachers, and improving reading and writing skills. Fifth/ 1- The Ministry of Finance will fund (500,000,000) dinars, only five hundred billion dinars, to the Ministry of Electricity, to sustain the work of production stations and address bottlenecks in the electrical system for the summer of 2022, through maintenance, provision of necessary and governing materials, expansion and rehabilitation work for stations and the network, and implementation of their connections. According to the detail shown in the tables accompanying the book of the Ministry of Electricity No. (20479) dated April 18, 2022, in implementation of paragraphs (1 and 2) mentioned in the letter of the Federal Financial Supervision Bureau No. (1/1/15/2443) dated February 3 2021, attached to the Cabinet Resolution (15 of 2022). 2- The financing of the amount mentioned in paragraph (1) above will be in two phases, the first (200,000,000) dinars, only two hundred billion dinars, and the second (300,000,000) dinars, only three hundred billion dinars for the next month. 3- The Ministry of Electricity submits periodic statements of achievement and expenditure rates to the Prime Minister. Ended 29/h
Baghdad – Mawazine News The independent deputy, Hussein Al-Sabri, confirmed, on Tuesday, the existence of political moves to settle differences between the blocs to resolve the file of naming the President of the Republic and resolving the file of forming the government, and while he warned against falling into a constitutional vacuum, he expected the date of the next session. Al-Sabri said, in a statement to the official news agency, that “the presidential candidate has the right of the Kurdish component, and negotiations are continuing on this to agree on a candidate for the position,” noting that “there are several options on the table, and during these days a move was taken to settle the crisis.” He added, “The recent days have witnessed a movement between the political blocs, and there is a kind of flexibility,” expressing his hope that the current political closure would be resolved. And Al-Sabri indicated that “the last session of the House of Representatives was lifted, without specifying the date of the next session, Parliament Speaker Muhammad al-Halbousi. Leave it without a date.
He explained that “there is a session that will be held after the tenth of next month, and the constitutional timings are beginning to creep, and there is a fear of falling into a constitutional vacuum,” expressing his hope to hold the session and name the President of the Republic and then the prime minister. On the 28th of last March, the parliament session dedicated to electing the president of the republic after it was not possible to achieve a quorum to hold it, and the parliament has not succeeded until today in holding the session.
Baghdad / Obelisk: The representative of the Kurdistan Democratic Party, Mahma Khalil Ali Agha, confirmed on Monday, April 18, 2022, the cohesion of the “triple alliance”, while the formation of the new government is expected at the end of next May.
Ali Agha said in a statement followed by the obelisk, “The birth of the Triple Alliance (the National Salvation), is as an electoral entitlement, as this alliance will not be against anyone, but rather to save Iraq from the situation it has reached.”
He added, “This alliance is more coherent than ever, as it is communicating with the blocs to get Iraq out of the political blockage, and it is continuing to form a professional service government based on integrity and efficiency, at the end of the fifth month.”
He pointed out, “The influential leaders of the coalition are continuing to achieve the rights and demands of the Iraqi street as well as its national entitlements according to the circumstances and the data of the stage, preserving the unity and sovereignty of Iraq, and fighting corruption and terrorism, for its absolute belief that they are two sides of the same coin, as well as strengthening federal institutions, securing the return of the displaced and granting them their rights.” The legal constitutionalism lost materially and morally, and the security of their devastated areas.”
The leader of the Sadrist movement, Muqtada al-Sadr, seeks, through the tripartite alliance, to form a national majority government, while stressing the exclusion of the “State of Law” coalition led by al-Maliki, but the rest of the Shiite forces within the “coordinating framework” reject this and demand a consensual government in which all political forces in Parliament participate. Similar to previous courses.
The Association of Iraqi Private Banks organized a symposium entitled “Concepts of renewable energy in Iraq to achieve the principles of transition towards a green economy” in the presence of the Minister of Environment, Chairman of the Investment Authority and Deputy Governor of the Central Bank.
The director of the Organizations Department in the General Secretariat of the Council of Ministers, Ashraf Al-Dahan, the representative of the Secretary-General of the Council of Ministers, Dr. Ali Al-Shahristani, and the Director General of the Integrity Commission, Muhammad Muften, as well as the head of the Martyrs Fund, Abdul-Ilah Al-Naeli, participated in the symposium.
The discussion session was moderated by the former Iraqi ambassador to the UAE, Zaid Ezz Al-Din, and was attended by the Minister of Environment, Jassem Al-Falahi, the head of the Investment Authority, Suha Al-Najjar, and the Deputy Governor of the Central Bank, Ihsan Al-Yasiri.
The Minister of Environment, Jassem Al-Falahi, said that “Iraq is classified as one of the countries in the world most affected by climate changes due to the presence of serious problems related to water security, which has increased levels of desertification and dust storms.”
He stressed, “The ministry has been working with the Central Bank for several months on its national initiative to support electricity through solar energy and the transition towards a green economy,” noting that “renewable energy is the next economy, and I call on businessmen and investors to move seriously towards a green economy.”
In turn, the head of the Investment Authority, Suha Al-Najjar, said that “the Investment Authority greatly supports clean energy projects, and the government has signed an agreement with international companies to build 7.5 gigawatts of solar energy.”
She added, “The Central Bank provided the necessary funds to invest in energy,” calling on international and local companies to “invest the Central Bank’s initiative to establish solar power plants.”
She stressed that “the Investment Authority is ready to support all environmentally friendly projects, and that Iraq is a promising environment in this field, but provided that these projects are technologically advanced and capable of achieving profit and protecting the environment at the same time.”
For his part, Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, said, “Since the beginning of the year 2021, the Central Bank of Iraq, in cooperation with the Ministry of Environment, has turned to investing in the areas of green economy and renewable energy in Iraq, and work has begun to form a committee for renewable energy, to be approved by The Governor of the Central Bank launched an initiative worth one trillion dinars.
He continued, “The Central Bank decided that the loans granted with an administrative commission only target all housing and business sectors,” noting that “the establishment of the solar energy system will contribute to improving the environment and reducing risks.”
He stressed that “the device of standardization and quality control will carry out the task of examining the devices that traders will import from outside Iraq.”