KTFA:
Clare: The Central Bank of Iraq begins to open channels of financial cooperation with India
August 16, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received His Excellency the Ambassador of the Republic of India to Iraq, Mr. Prashant Bisai.
During the meeting, they discussed strengthening economic and banking relations between Baghdad and Delhi, and the desire of the two parties to open bank accounts in accredited Indian banks to facilitate external transfers to cover Iraq’s imports, which amount to about (4) billion dollars, in a way that facilitates and speeds up transfers for Iraqi importing merchants, as well as discussing the experience of India. In electronic payment and expanding financial inclusion to advanced levels.
In turn, His Excellency the Ambassador expressed the readiness of the concerned institutions in this field to provide support and training to the staff of the Central Bank of Iraq.
For his part, the Governor of the Central Bank of Iraq expressed his congratulations and blessings on the occasion of the (77th) Independence Day of the Republic of India, praising its experience in its distinguished development journey in all sectors and its attainment of an advanced economic position.
The Central Bank of Iraq,
Media Office,
August 16, 2023
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Clare: The Ministry of Oil is hosting a meeting of the working group tasked with preparing the draft oil and gas law
8/17/2023
Today, Thursday, the Ministry of Oil organized a meeting for the working group tasked with preparing the draft oil and gas law.
The meeting was chaired by the Ministry’s advisor for administrative, legal and oversight affairs, Hamdan Awijel, and included a number of officials in the oil companies and departments of the Ministry’s headquarters.
The Ministry of Oil said in a statement today that the meeting aims to discuss the preparation of a draft oil and gas law, and work to develop a professional national vision that achieves the goals of optimal investment of oil wealth to serve the public interest.
In early August, Prime Minister Muhammad Shia’ al-Sudani directed the formation of a ministerial committee to supervise technical dialogues between the Federal Ministry of Oil and the Ministry of Natural Resources in the region, in addition to inviting the governors of the oil-producing provinces of Basra, Maysan, Kirkuk and Dhi Qar, and the directors The two years of government oil companies for the ongoing technical dialogues regarding the draft oil and gas law, provided that these dialogues are followed by the completion of the political dialogue to agree to present the draft law.
The oil and gas law is one of the most important differences between the federal government and the Kurdistan Region, and the parties did not reach a settlement on it throughout the past four parliamentary sessions.
During the current parliamentary session, the political blocs are counting on reaching solutions to the existing differences and pushing for understandings that satisfy all parties to pass the law. LINK
