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Iraqi News Monday AM 9-14-20

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Baghdad and Washington are discussing mechanisms to enhance financial cooperation between the two countries

Monday 14 September 2020  93  Baghdad: Morning   Yesterday, Sunday, Minister of Finance Ali Allawi discussed with the Ambassador of the United States of America in Baghdad mechanisms for enhancing economic and financial cooperation between the two countries.

The media office of the ministry said in a statement that “Finance Minister Ali Allawi met with the US ambassador to Iraq,” noting that “during the meeting, mechanisms for enhancing economic and financial cooperation between the two countries were reviewed and discussed.”

The American ambassador stressed, during the meeting, “his country’s full support for the plans and measures that the Iraqi government is pursuing, especially with regard to reforming and developing the economic and financial sector under the current circumstances.”   LINK

Parliamentary Finance To Present In Mid-October The {Bold} Reform Paper

Monday 14 September 2020  162  Baghdad: Nassar Hajj   The Parliamentary Finance Committee intends to present the reform paper that the Ministry of Finance passes for discussion in the middle of next month.

Committee rapporteur Ahmed Al-Saffar told INA: The committee held a meeting with the Minister of Finance, the Undersecretary of the Ministry, the General Directors of Tax and Customs, the Rasheed and Rafidian Bankers, to discuss the economic crisis, the draft budget law, and the economic reform paper.

Al-Saffar added that the Minister of Finance promised to submit a draft of the reform paper at the end of this month, provided that the paper is fully presented in the middle of next month, pointing out that the paper is still undergoing some changes, indicating that the committee is awaiting the sending of the draft budget law for the year 2020 by the Council of Ministers. , Indicating that the budget will include borrowing and a mechanism for facing economic conditions and conditions for the next three months.   LINK

Iraq PM Appoints Mustafa Ghaleb As C.Bank Governor – INA

Reuters Reuters September 14, 2020  BAGHDAD, Sept 14 (Reuters) – Iraqi Prime Minister Mustafa al-Kadhimi appointed Mustafa Ghaleb as central bank governor, state news agency INA said on Monday.

INA did not provide further details. (Reporting by Samar Hassan; writing by Amina Ismail; Editing by Toby Chopra) https://finance.yahoo.com/news/iraq-pm-appoints-mustafa-ghaleb-083409865.html

Iraqi PM Appoints Mustafa Ghaleb As C.Bank Governor

BAGHDAD, Sept 14 (Reuters) – Iraqi Prime Minister Mustafa al-Kadhimi appointed Mustafa Ghaleb as central bank governor, state news agency INA said on Monday.

https://www.nasdaq.com/articles/iraqi-pm-appoints-mustafa-ghaleb-as-c.bank-governor-ina-2020-09-14

UPDATE 2-Iraqi PM Appoints Mustafa Ghaleb As C.Bank Governor – INA

BANKING AND FINANCIAL NEWS    SEPTEMBER 14, 20204:57 AMUPDATED 3 HOURS AGO

By Reuters Staff   (Adds other PM appointments)

BAGHDAD, Sept 14 (Reuters) – Iraqi Prime Minister Mustafa al-Kadhimi appointed Mustafa Ghaleb as central bank governor, state news agency INA said on Monday.

Kadhimi also appointed Suha Dawood Elias as head of the National Investment Commission and Salem Jawad Abdul Hadi Al-Jalabi as chairman of state-owned Trade Bank of Iraq (TBI), among other appointments, INA said.

INA did not provide further details.

Iraq’s economy and oil sector were battered by years of wars, sanctions and a stubborn Islamist insurgency triggered by the U.S. invasion.

Iraq relies on oil to fund 97% of its state budget. Iraqi Finance Minister Ali Allawi told parliament last week that reforming Iraq’s economy would take five years of work and that state debt amounted to 80-90% of national product, while foreign debt was at $133 billion. (Reporting by Samar Hassan; writing by Amina Ismail; Editing by Toby Chopra)

https://www.reuters.com/article/iraq-politics/update-1-iraqi-pm-appoints-mustafa-ghaleb-as-c-bank-governor-ina-idUKL8N2GB1VH

Integrity Challenges The Decision To Release A Bank Manager In The Case Of Wasting $ 20 Million

Time: 09/14/2020 14:44:40 Read: 1,378 times   {Baghdad: Al Furat News} The Federal Integrity Commission revealed its appeal against the decision of the Rusafa Misdemeanor Court, which is specialized in issues of integrity, which ordered the release of the former head of the main branch of the Iraqi Trade Bank. Noting that the presidency of the Baghdad Court of Appeal in its cassation capacity decided to accept the appeal.

In its discussion of the details of the case, which centered on suspicions of damaging the bank’s funds in the amount of two million dollars, the Investigation Department indicated that the Commission was not satisfied with the misdemeanor court’s decision to cancel the accusation directed at the head of the main branch of the former Iraqi Trade Bank. So she marked the decision.

The department added that the Presidency of the Federal Court of Appeal of Baghdad – Al-Karkh, in its cassation capacity, agreed to the cassation request; Because it was within the legal period and included its reasons, so it was decided to accept it in form, and when looking at the distinguished decision it was found to be incorrect, explaining the acceptance of the discriminatory appeal, reversing the ruling and intervening in discrimination of the referral decision, revoking it and returning the case papers to the Al-Karkh Investigation Court that is specialized in integrity cases.

It should be noted that Article (14 / Second) of the Integrity and Graft Commission Law No. 30 of 2011, as amended, gave the Commission the right to appeal judgments and decisions issued in every corruption case that is not investigated by one of the investigators of the Investigation Department. Third of the same article, the Commission has the right to appeal, by way of cassation, to the decision of the investigating judge rejecting his request for any reason.  LINK

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