Bondlady’s Corner

Iraqi News Highlights Thursday Afternoon 1-26-23

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Parliamentary Finance Talks About An Important Measure That Will Reduce Dollar Prices

Posted On2023-01-26 By Sotaliraq   A member of the Parliamentary Finance Committee, Jamal Cougar, revealed an additional measure that must be taken in order to reduce the exchange rate of the dollar and keep it away from speculation and control of banks.  Cougar said in an interview, “The decisions taken by Prime Minister Muhammad Shia al-Sudani are important, but we need a number of other decisions for the purpose of reducing the dollar.”

Cougar added, “One of the factors that we believe is important is opening a direct gateway to buying dollars from the central bank.”

And he considered that “the bank should open more than one branch for it within the same governorate for the purpose of facilitating the arrival of merchants and money changers to buy the dollar without the need for the mediation of some banks, which may be a reason behind the dollar not delivering to merchants and owners of companies what contributes to its rise.”   LINK

Iraq’s Oil Revenues Increased By 4 Percent Last Month

Thursday 26 January 2023 09:21 | Economical Number of readings: 387  Baghdad / NINA / – Iraq’s oil revenues increased by 4% on an annual basis in December, while oil exports increased by 1.68%.

And the Ministry of Oil stated in a statement: “Iraq’s oil revenues, excluding flows from the Kurdistan region, increased by 4.29% on an annual basis in December, to reach $7.708 billion, compared to the same month of 2021, in which oil revenues amounted to $7.391 billion.”

The data showed: “The total oil revenues for the month of December decreased by 7.37% on a monthly basis, compared to November, when the revenues amounted to $8.321 billion.”

And she indicated: “Iraq’s oil exports for the month of December increased by 1.68% on an annual basis, to record 103,281, compared to the same month of the year 2021, in which oil exports recorded 101.579 million barrels.”/ End

Sudanese Advisor: The Government Intends To Try A Step That Protects The Iraqi Currency

Posted On2023-01-26 By Sotaliraq Today, Thursday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, spoke about the importance of a step that Iraq is moving towards electronic payment in commercial dealings in the private and government sectors.

Saleh said, “The government’s orientation towards electronic payment in commercial dealings in the private and government sectors is very important, and this matter will be a factor in shifting the cost of using paper money for electronic payment, and this is a very important matter in the daily dealings of citizens.”

And he indicated that “Iraq’s orientation towards electronic payment in commercial dealings will protect the Iraqi currency from damage through daily transactions and its large transfer between people, and other economic benefits, as it is a step to develop the daily financial dealings of citizens, and the government is determined to activate this experience and step in the near future.” urgent.”  LINK

The Signing Of The Strategic Partnership Agreement Between Iraq And France During The Sudanese Visit To Paris

Iraq   Today, Thursday, in Paris, Prime Minister Mohamed Shia’a Al-Sudani begins his one-day official visit to the French Republic.

During the visit, Al-Sudani will meet, according to a statement by his media office, French President Emmanuel Macron, the French Prime Minister, and a number of senior officials in the French government, as well as a number of representatives of French companies and the business sector.

This visit of the Prime Minister at the head of a high-ranking government delegation comes within the framework of developing opportunities for deep cooperation with the French Republic, and opening more horizons for investment and exchange, by way of strengthening the goals and priorities set by the government program, and for the development of economic infrastructure.

According to the statement, the visit will witness the signing of a strategic partnership agreement between Iraq and France, which will include many files in aspects of joint cooperation, in the economic, investment and security fields, combating terrorism and extremism, cultural exchange, and promoting peace in the two countries, the Middle East region and the world.

The agreement will also include promoting the purposes of the United Nations Charter, cooperation in the field of crisis management, combating economic and organized crime, protecting the environment and promoting human rights and education.

The visit will witness the signing of a bilateral memorandum of understanding in the field of combating corruption and recovering looted and wanted Iraqi funds in accordance with Iraqi law, as well as the signing of a number of other memorandums of understanding in the field of investment in energy and the oil sector, clean energy, and associated gas investment.

The visit will include a joint discussion in the field of antiquities protection, and the signing of the Iraqi-French declaration in the field of heritage and antiquities maintenance. In addition to holding talks with a number of French companies related to the development of transport sectors, through the activation of vital transport projects.

Integrity Announces The Return Of More Than A Trillion Dinars In The Investigations Of The Investment Portfolio Case

Money and business   Economy News-Baghdad  Today, Thursday, the Federal Integrity Commission announced the return of more than a trillion dinars in the investigations of the investment portfolio case.

A statement of the authority stated that “the investigation department of the authority, while speaking about the details of the case that the authority investigated and referred to the judiciary, stated that its investigative procedures regarding the violations committed in opening the retirement investment portfolio between the global smart card company and the National Retirement Authority led to the return of an amount of ( (1,158,454,330,228) dinars from the amounts collected at the Rafidain Bank due to the Pension Authority.

He added, “The benefits accruing from the retirement investment portfolio were obtained to the account of the National Retirement Authority, which was determined by the joint committee consisting of (the National Retirement Authority, the Rafidain Bank, and the International Smart Card Company), amounting to (368,663,151,201) dinars,” pointing out that “the amount represents The value of the damage resulting from the violations committed in opening the portfolio, including non-payment of interest accrued from the portfolio from the cash liquidity of the National Retirement Authority.

He pointed out that “the remaining amount out of the total retirement investment portfolio is (542,980,769,771) billion dinars, and it is under payment by borrowers and borrowers, since the time period for expiring the payment of the full funds of the investment retirement portfolio and matching its accounts expires in 2025.”

He continued, “The details of the case indicate that the International Smart Card Company and the National Retirement Authority signed a report stating that the National Retirement Authority – State Employees’ Pension Fund funded a bank account opened in the Rafidain Bank entitled “Retirement Investment Portfolio” with an amount of (2,250,000,000,000) dinars to be granted in the form of advances. And loans through the Qi Card,” pointing out that “the minutes of establishing the portfolio were signed in violation of the law, as it was signed by the head of the National Retirement Authority before obtaining the approval of the authority’s board of directors.”

And he indicated that “there was no financing contract concluded between the parties that shows the mechanism for depositing funds, the date of their return to the National Retirement Authority, or the corresponding guarantees in the event that the funds are not recovered,” pointing out that “the absence of a database; to know the numbers and names of borrowers and borrowers who are reluctant to pay, and not to return Refunds due to the National Pension Authority.

And he stressed, “This refers to benefiting from cash liquidity without any benefit belonging to the retirement authority, and committing other violations indicated by the report of the Federal Office of Financial Supervision that caused damage arising from non-payment of interest on the portfolio, in addition to the original amount of the portfolio to the party requesting the complaint (the National Retirement Authority). )”, warning of “exploiting the insurance on the investment portfolio by deducting amounts from each borrower as insurance through establishing a company for the accused (the authorized director of the global smart card company.”

It is noteworthy that the Integrity Commission revealed on the eighteenth of last August that its investigative procedures and follow-up of the file of the issue of pension salaries outside Iraq led to the recovery of (231,352,535,563) billion dinars to the state treasury, which represents the sums owed by the company (Ki Card), warning of the possibility of determining the existence of interest due to Exploiting the amounts for several years from the date of 2017.


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