BondLady’s Corner

  In Bondlady’s Corner 

More Iraqi News Monday PM 10-26-20

TLM724 Administrator BondLady’s Corner

Parliamentary Finance Confirms The Government’s Printing Of New Currencies Without Financial Cover And Describes The Act As “Dangerous”

17:43 – 10/25/2020  Information / Special …On Sunday, the Parliamentary Finance Committee described the federal government’s printing of currency without providing financial cover as a dangerous and wrong behavior.

“The government of Prime Minister Mustafa Al-Kazemi does not have a vision for economic and financial reform,” said Abdul Hadi Al-Saadawi, a member of the committee, in a statement to “Al-Maaloumah”, pointing out that “the government made a big mistake by printing a currency without providing a financial cover for it.”

He added that “printing the currency without providing financial cover is the most dangerous work done by the Central Bank of Iraq at the present time,” noting that “this matter will lead to major economic problems.”

Last Monday, the Parliamentary Finance Committee announced the opening of an investigation to secure the government’s salaries for September, despite the Parliament’s lack of approval of the loan presented, indicating that its insurance is surrounded by doubts between withdrawing from the central reserve or printing other currencies.

Classification: Iraqi  Parliamentary Committee: The Mineral Investment Law Is Ready For Voting

Monday, 26 October 2020 1:17 PM   Baghdad / National News Center – The Parliamentary Economic and Investment Committee confirmed, on Monday, that the Mineral Investment Law is ready for voting on it, and the law is likely to be passed during the coming sessions.

A member of the committee, Yahya Al-Ithawi, said, according to the official agency, that “the mineral investment law is ready for voting, and it is expected to pass it during the next sessions,” expressing his hope that “the instructions that will be issued for this law will encourage investment inside Iraq.”

He added that “there are many details in this law, and we want it to be issued in a good manner, without loopholes, to prevent the corrupt from entering through it.”

Parliament refers the decision to establish the National Mobile Company to the Presidency of the Republic

09:22 – 10/26/2020    The information / Baghdad .. Parliament recently referred to the Presidency of the Republic the “fourth license” law relating to the establishment of the national mobile phone company, and it is expected that the presidency will ratify it before directing it to the executive authority to start implementing the procedures.

A member of the Communications and Media Committee, Alaa al-Rubaie, said in a statement reported by the official Al-Sabah newspaper, which was seen by the information, that “Parliament has issued a decision to establish a national mobile phone company that grants its services to citizens alongside the three companies currently operating in the country.”

Al-Rubaie stressed, “The great importance of this issue in order to formulate the policy of the telecommunications sector in the country and rebuild the state through the issuance of this decision, after chaos contributed to preventing the establishment of any national company so that its services would be subsidized to citizens despite the issuance of a decision years ago, and leaving private companies messing about. With the money and security of the country 17 years ago ».

Al-Rubaie stated that «the decision issued by the parliament will transfer to the presidency of the republic, which in turn will transfer it to the executive authority, to implement what was mentioned in this decision, as it was issued by the supreme authority in the country that monitors state institutions and their decisions that are binding on all institutions.

Parliamentary Integrity Calls For Seizing Non-Oil Revenues And Resources

Monday ، 26 October 2020 03:03 PM  Member of the Parliamentary Integrity Committee, Khaled Al-Jushami, demanded that they seize Iraq’s imports scattered non-oil reform the economic situation.

Al-Jashami said, “The reform of the economic situation must be far from the salaries of employees and the sustenance of the citizen.”   He added, “The economic situation requires urgent intervention to save it, as all things are heading towards collapse.”   LINK

Dana Gas Sells Two Oil And Gas Fields In Egypt To Expand Production In Iraq

Monday 26, October 2020 10:54 | Economical Views: 177   Baghdad / NINA / “Dana Gas” agreed to sell its oil and gas fields in Egypt for an amount of $ 236 million, which would enable it to pay off debts related to bonds that mature this month and to expand its production in the Kurdistan region.

The UAE-based company said in a statement today that it will receive $ 153 million in cash and up to $ 83 million in emergency payments for the sale of IPR Energy Group. . ”

Chief Executive Patrick Germans said in a statement:” The Egyptian deal allows Dana Gas to focus on expanding production in northern Iraq, and therefore Iraq will become the main area of operations of the company. ”

And “Dana Gas” is the largest and first regional private sector company operating in the field of natural gas in the Middle East region. It was established in 2005 by 300 prominent founders from across the Gulf Cooperation Council countries, and the company’s shares were listed on the Abu Dhabi Stock Exchange. It is headquartered in the Emirate of Sharjah, United Arab Emirates, and has a network of offices in the Kingdom of Saudi Arabia, the Kurdistan region, Egypt and the United Kingdom.

The company produces the equivalent of 65,000 barrels of oil equivalent per day of oil, gas and natural gas liquids from its operations in Egypt and the Kurdistan region.

The Central Bank Announces The Distribution Of 1000 School Trips To Support The Educational Process

Money  and business  Economy News _ Baghdad  The Media Office of the Central Bank of Iraq announced the distribution of 1,000 school trips as part of a campaign to support the educational process.

“In response to the Ministry of Education’s request, the Governor of the Central Bank of Iraq, Mustafa Ghaleb, frightened, to distribute (1000) school trips to a number of schools in the capital, Baghdad, through the Tamkeen initiative sponsored by the Central Bank and financed by banks and exchange companies,” the bank said in a statement. This is in order to support the educational process under the current circumstances and coinciding with the beginning of the new school year.

He added, “It is mentioned that the initiative allocated 9000 school trips earlier, and was distributed by the Iraqi Private Banks Association to different schools in a number of Iraqi provinces, in coordination with the Ministry of Education.” Number of observations 92 Date of addendum 10/26/2020

To read more current and reliable Iraqi news please visit BondLady’s Corner: