Fatah: The President of the Republic will be elected next week, and a delegation including Al-Fayyad and Al-Halbousi will visit Erbil

  • Time: 10/09/2022 23:28:19
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Fatah: The President of the Republic will be elected next week, and a delegation including Al-Fayyad and Al-Halbousi will visit Erbil

{Political: Al Furat News} The head of the Fatah Alliance parliamentary bloc, Abbas Al-Zamili, expects the election of the President of the Republic in the House of Representatives early next week.

Al-Zamili said in the program “Al-Mastra” broadcast by Al-Furat satellite channel this evening: “We are moving towards the election of the president of the republic and the formation of the government in a short period of time.” If they do not reach an agreement, parliament will have to choose one of the candidates, but we do not want to reach this stage.”
He added, “Before the middle of this month and the beginning of next week, a president will be elected if a channel of communication and understanding is not opened with Mr. Sadr.”
And he revealed, “The visit of a delegation (from the State Administration Coalition), including the head of the Popular Mobilization Authority, Faleh al-Fayyad, and Parliament Speaker Muhammad al-Halbousi, to Erbil, to meet with the leaders of the Kurdistan Democratic Party to discuss political affairs and efforts to complete the constitutional entitlements.”
Al-Zamili called “the two Kurdish parties to reach an understanding either by agreeing on one presidential candidate or going to parliament with two candidates,” noting that “the framework is pressing in this direction and resolving the matter in the near term and as political forces called upon to save the country by completing the political benefits.”
He stressed, “We are ready to negotiate to a maximum point with the Sadrist movement, despite our knowledge that the movement’s decision is exclusively in the hands of Mr. Muqtada al-Sadr,” noting that “the framework candidate, Muhammad Shia al-Sudani, is a person who enjoys the confidence and acceptability of the majority of political forces,” as he put it.
And on the draft law on addressing housing abuses, Al-Zamili said that: “The framework rejected the slums law, but the Speaker of Parliament insisted on reading it first.”
He explained, “We are in favor of going towards land ownership as a reality, especially in the (agricultural title deed)”, noting that “this law will be transferred to the new government.”



The Central Bank of Iraq obtains an international certificate in cash management

October 09, 2022The Central Bank of Iraq obtains an international certificate in cash management

Today, Sunday, the Central Bank of Iraq obtained the ISO certificate (ISO9001:2015) related to the quality management system in terms of cash management, issued by TQCS INTERNATIONAL PTY LTD.

The company, which granted the certificate to the Director General of the Issuance and Treasury Department, praised the efforts of the Central Bank of Iraq in implementing international specifications and standards. 

It is noteworthy that this certificate is granted every three years to institutions that implement international systems and standards for total quality management and institutional development. 

Central Bank of IraqMedia Office9 – October – 2022


Iraq removed from list of countries in need of external assistance for food

EconomyiraqFood and Agriculture Organization

 2022-10-09 04:27A-AA+

Shafaq News / The Food and Agriculture Organization of the United Nations (FAO) announced removing Iraq from the list of countries in need of external assistance for food.

The Organization said in a statement that over 45 countries continue to be in need of external assistance for food, with conflicts acting as the primary cause of high levels of food insecurity and adverse weather conditions – particularly rainfall shortages.

It added that Iraq is no longer part of the list, which currently includes Pakistan, Afghanistan, Bangladesh, Yemen, Syria, Lebanon, Myanmar, North Korea, and Sri Lanka.


The framework confirms the “state administration”‘s move to reach an understanding with al-Sadr: Every matter has a limited ceiling

politicsMuqtada al-SadrSadrist MovementFormation of the Iraqi governmentcoordinating frameworkState Administration Coalition

 2022-10-09 16:09A-AA+

Shafaq News/ The coordination framework confirmed, on Sunday, that the “state administration coalition” moved to reach an understanding with the leader of the Sadrist movement, Muqtada al-Sadr, but indicated that there is a limited time limit, to proceed with forming the government.

The State Administration Coalition is a new alliance that emerged recently from several forces that participate in the political process, and its purpose is to proceed with the formation of the government and to end a year of political blockage.

The leader in the framework, head of the Sanad bloc, Ahmed Al-Asadi, told Shafaq News Agency, “The State Administration Coalition will discuss the issue of electing the president of the republic, and it will agree to set a date for the election session.”

Al-Asadi added, “There are continuous and periodic meetings to lead the state administration coalition, and the formation of the new government without the Sadrist movement is not related to the coalition’s ability or not.”

He pointed out that “the will of all the forces is for the government to proceed with understanding, and everyone is seeking, in agreement with the Sadrist movement, to form the new government, but each matter has a limited time limit.”


Europe, Washington and Tokyo request an Iraqi position on the Russian referendum and the borders of the “Ukraine State”

politicsbreakingUkraineIraqi Foreign MinistryEuropean UnionRusso-Ukrainian warRussian referendum

 2022-10-09 11:22A-AA+

Shafaq News/ The ambassadors of the European Union countries, Canada and Norway, as well as the charge d’affaires of the Japanese embassy and the representative of the American embassy in Baghdad, asked today, Sunday, from the Iraqi Foreign Ministry a position on the recent Russian referendum and the political borders of Ukraine, while the ministry responded by discussing the matter in accordance with the principles of Iraqi politics and the League of States Arabic.   

The Foreign Ministry said in a statement received by Shafaq News Agency, that its Minister Fouad Hussein met today with the ambassadors of the European Union countries, Canada, Norway and Britain, the charge d’affaires of the Japanese embassy and the representative of the American embassy in Baghdad, explaining that during the meeting, a US-Albanian draft resolution submitted to the Assembly was discussed. The General Assembly of the United Nations relating to the referendum in Zarporozhye, Khrichno, Lugansk and Donetsk in Ukraine and its annexation to the Russian Federation.  

The guests highlighted, according to the statement, the importance of the draft resolution as it addresses the attempts of the Russian Federation to change the recognized political borders of the state (Ukraine), and that it constitutes a clear and explicit violation of the Charter of the United Nations, and they affirmed their position in support of the sovereignty, independence and territorial integrity of Ukraine within the internationally recognized borders.

They also indicated, according to the statement, that Russia will submit a request to make the vote secret and that they will reject it in the interest of transparency in the procedures, and they asked Iraq to support the draft resolution in order to preserve the right of the Ukrainian people to self-determination.

The statement quoted the minister as emphasizing that Iraq’s position has been clear since the beginning of the Russian-Ukrainian war, which is the need to find a peaceful solution to the crisis, avoid escalation, rely on negotiations, exercise restraint, and call for dialogue between the parties, as Iraq is a country that has suffered from the scourge of wars.

The minister also stressed that the repercussions of this war, economically, have affected countries in Europe and the Middle East, and expressed his concern over its continuation, and made it clear that Iraq is part of the Arab contact group that seeks to find ways to solve the crisis through dialogue and diplomacy in a manner that preserves security and safety of the peoples in this important region of the world.

With regard to the draft resolution, the minister indicated that he would discuss this with the Prime Minister in light of the principles of Iraqi foreign policy that emphasize resorting to peaceful means in resolving disputes and in light of Iraq’s commitment to the United Nations Charter. He will also communicate with his counterparts in the Arab Contact Group to see their positions on The project is under discussion, as well as communication with the permanent representative of Iraq in New York in this regard.


A wide welcome for the policies of the Central Bank: Contributed to achieving monetary stability


2022-10-09 | 08:18

A wide welcome for the policies of the Central Bank: Contributed to achieving monetary stability


The policy of the Central Bank was widely welcomed by the economic circles, stressing that the plans developed by the bank in the recent period contributed a lot to achieving monetary stability.

In this regard, the Economic Observer affirmsHassan HajjThe Central Bank’s policy and plans in the past months contributed directly to achieving monetary stability and raising the level of Iraq’s strategic reserve of hard currency, in addition to the flexibility of the plans developed in a manner that is consistent with the size of the economic challenges locally and globally.

Al-Hajj said in an interview with Alsumaria News, “The Central Bank’s measures in dealing with the global economic crisis were very clear in a positive and professional manner, unlike what happened in many countries of the world, where we saw a significant increase in the bank’s hard currency reserves from 50 to 76 billion dollars. It will reach $90 billion before the end of this year, which has a positive impact on the stability of the currency price in the market and the inability of traders to manipulate it.”
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He added, “The Central Bank adopts flexible policies and plans that are consistent with all variables of the economic situation in the local and global market, and they are in remarkable progress, especially with regard to the issue of containing cases of corruption or currency smuggling that occurred in previous periods through the currency sale auction, where we saw a clear decline in These violations are a result of the new controls set by the Central Bank to contain these negative cases during the past six months, and we hope that they will be completed in the next stage completely.”

The economic expert explained, “The raising of the exchange value of the dinar against the dollar, which had some negative repercussions on the citizen, but in the end was positive to supplement the state’s reserves of currency to face crises, but in general it needs more powerful government measures to support the fragile and middle classes, which can actually be achieved in If the government draws up a coordinated policy and joint cooperation with the Central Bank in this file.”

He continued, “The policy of the Central Bank is in great improvement, and we expect that new measures will be taken by it in the coming months to ensure that the reserve level is maintained and developed to be a strategic reserve for the Iraqi state and in line with the rise in oil prices globally, which are all positive indicators that ultimately serve the interest of the state treasury.” 

In addition, confirmIraq Stock ExchangeHis cooperation with the Central Bank and the stock market achieved 5 goals and gains. 

The Executive Director of the market, Taha Ahmed Abdel Salam, said to the official agency that “cooperation with these two parties has achieved goals and gains, represented first by working to oblige the brokerage offices owned by banks to convert to brokerage companies starting from 2008-2009, to be financially independent in accordance with the companies’ law and in line with the law. With the rules of the Securities Commission, and secondly, the cooperation resulted in obligating banking companies and money transfer companies to be included in theIraq Stock Exchangebased on a decisionMinisterial Economic CommitteeIn 2013 and to meet the standards of the Securities Exchange Commission for listing, which made the banking sector the largest sector listed in theIraq Stock Exchange“.


He added, “The third gain includes holding joint committees between the three parties periodically, which would develop the securities sector continuously, while the fourth gain includes the use of the payment system in implementing financial settlements between Iraqi banks, in addition to banking activity between the bank and its branches, which increased the Liquidity of shares through examination and audit of sources of funds upon purchase. 

And he added, “In this context, the due diligence of banking for dealers through banks is matched by the due diligence of stock dealers inIraq Stock ExchangeSince 2015, especially sinceIraq Stock ExchangeThe cash transaction is not accepted for the purchase of shares or the payment, except within limits of less than 15 million dinars for the investor in one session.” 

He stressed that “the fifth gain is the cooperation of the three parties in the framework of supporting banks to provide a safe custody service for securities, and during 2022 grantingCentral Bank of IraqApprovals for four Iraqi banks that submitted their papers to the Securities Commission to practice the activity of safe custody of securities, and all of them were approved at the beginning of November 2022.” 

He concluded by stressing that there will be mechanisms of cooperation and joint work coming to enhance the role of the securities sector in supporting economic activity in Iraq. “. 

At the end of last year, he announcedCentral Bank of Iraq, for the completion of the payment of compensation to the State of Kuwait. 

The Central said in a statement received byAlsumaria news, that “the payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, and thus it will beIraqI have paid the full amount of compensation I approvedUnited Nations Compensation Commissionaffiliated to the UN Security Council under Resolution No. (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait.” 

It is hoped that ending the payment of compensation, according to the statement, will contribute to “exitingIraqof the seventh item, as well as its impact on reintegrating the Iraqi banking system into the global banking system and benefiting from the financial abundance that will be achieved.” 

A United Nations compensation committee was formed in 1991, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, government organizations and others who incurred losses directly resulting from The invasion of Kuwait. 

Iraq stopped making payments in 2014 during the war on ISIS, which controlled large parts of the country, but resumed payments in 2018.


Parliament gives the Central Bank a week to answer parliamentary finance questions related to the currency sale window

politicsIraqi parliamentCentral Bank of IraqMohsen Al-Mandalawi

 2022-10-09 07:07A-AA+

Shafaq News/ On Sunday, the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, gave the Central Bank of Iraq one week to answer the questions of the Finance Committee regarding the currency sale window, stressing the need to take more effective precautionary measures to address the inflation caused by the devaluation of the dinar against the dollar.

This came while he chaired an expanded meeting of the Finance Committee, in the presence of Central Bank Governor Mustafa Ghaleb Mokhief, according to a statement received by Shafak News Agency. Al-Mandalawi said, “The Central Bank is directly responsible for implementing the country’s banking policies, and it is concerned with developing the work of banks and monitoring their work in order to protect citizens’ deposits and keep pace with the global development in this important sector on which the state depends to develop the rest of the sectors such as industry, agriculture, investment, tourism and others, stressing the “The bank must take more effective precautionary measures to address the inflation resulting from the devaluation of the dinar against the dollar.”

During the meeting, a number of questions were raised by the members of the Finance Committee related to the currency sale window of the Central Bank, the loans of the industrial and housing initiative, the Central Bank’s policies regarding increasing the capital of commercial, Islamic and private banks, custodial banks, letters of guarantee, and the bank’s supervisory role over banks, and to come up with a sentence From the recommendations, and agreeing to hold another meeting soon to answer the questions raised and to provide a full briefing on all topics and details.”

According to the statement, Al-Mandalawi gave the Central Bank a period of one week to answer clearly the questions submitted by the members of the Finance Committee, and to provide the Committee with all documents related to the file of letters of guarantee and the currency sale window.


Parliamentary Finance meets in the presence of the Governor of the Central Bank to discuss a number of files

political| 11:54 – 09/10/2022


Baghdad – Mawazine News 
, First Deputy Speaker of Parliament Mohsen Al-Mandalawi chaired a meeting of the Parliamentary Finance Committee, in the presence of Central Bank Governor Mustafa Ghaleb, to discuss a number of files, including Central Bank sales during the foreign currency sale window and the loan file.

And a statement received by Mawazine News stated, “The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, is chairing an expanded meeting of the Finance Committee, in the presence of the Governor of the Central Bank, Mustafa Ghaleb, to discuss several axes, the most important of which is the Central Bank’s sales file during the foreign currency sale window and the file of loans of all kinds, which were granted by the bank.” During the last period, especially the industrial and housing initiative, and the central bank’s policy file on increasing the capital of commercial, Islamic and private banks.

The statement added, “The meeting will also witness a discussion of the feasibility study on the numbers of private commercial and Islamic banks, and the banks that have been placed under the custody of the Central Bank, as well as discussions on the results achieved by the platform for letters of guarantee established by the Central Bank and the extent of the banks’ ability to apply them in the areas of banking work, and the supervisory role.” The Bank shall have the responsibility of commercial and Islamic banks regarding the fulfillment of some of the reluctance banks to fulfill their obligations towards their customers.


Al-Kazemi’s advisor confirms Iraq’s need to establish a permanent economic council

Economie| 01:43 – 09/10/2022


Baghdad – Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, on Sunday set the main and main criterion in drawing up the country’s economic policy, while stressing the country’s need to establish a permanent economic council.

Saleh said, “The basic and main criterion that the government adopts in formulating economic policy, especially those affecting economic development, is the five-year development plan, which is the tool and chart that indicates essential goals, foremost of which is the people’s happiness and well-being,” according to the official news agency.

He added, “The five-year development plan is funded according to the budget strategy and its quantitative objectives, whose estimates extend to at least three years, and are renewed annually on a continuous basis with the mechanisms for preparing the annual federal budget and its legislation, as investment projects are divided sectorally according to fundamental criteria, the most important of which is the amount of their contribution to growth. The annual economic plan indicated by the development plan and according to the priority of the investment project in achieving economic diversification and sectoral integration and its ability to operate human energies and various other local resources and human necessities without neglecting its geography, which should affect the most disadvantaged areas in the country.

He continued: “Based on the foregoing, the financing and important part of the annual general budget (after the operational budget) is the government’s annual investment spending and ways to finance it, as it sets aside at least 20% of the total public spending planned to finance government investments, not to mention the The investment activity undertaken by the private sector, which is indicated by the five-year development plan among its indicators, and which takes up no less than 35% of the annual investment in some sectors and reaches more than 50% in the housing sector, for example, out of the total annual targeted investment in the country “.

He stressed, “The country is still in dire need of a permanent economic council that has executive powers for infrastructure and reconstruction, to ensure the implementation of strategic projects across governorates, such as major agriculture, transportation, water, energy, housing, construction and digital economy projects, all of which accelerate the degree of economic diversification and the transition to an advanced development era in an accelerated manner.” In the economic well-being, as well as the role of the Council to follow up the sustainability of financing and implementation of these projects according to the timing and priority without stumbling or delaying. Ended 29/N33


Parliament Presidency: The Finance Committee will make recommendations to the Central Bank

political| 01:32 – 09/10/2022


Baghdad – Mawazine News
The Presidency of the House of Representatives announced, on Sunday, that the Finance Committee will present recommendations to the Central Bank.

The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, said during the hosting of the Central Bank Governor and his agents, according to the official news agency, that “the Finance Committee has recommendations that it will present to the Central Bank.”

He added, “A number of committee members will submit questions to the governor and his agents, and we will listen to the answers,” noting that “there will be a second hosting of central bank officials.” Ended 29/N33