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Iraqi News Tuesday AM 11-17-20

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The Parliamentary Economic and Investment Committee hosts a number of general managers in the Ministry of Industry

11/17/2020   The Parliamentary Investment Economy Committee headed by Representative Ahmed Salim Al-Kinani and its members attended, on Tuesday 17/11/2020, a number of general directors at the Ministry of Industry.

The head of the committee stressed the need to support the companies of the Ministry of Industry and their production factories, as they are the main engine of the economy, as well as providing job opportunities for the manpower.

The committee members were briefed on the work of the companies and the problems they suffer from, and the plans drawn to advance their reality in order to restore them to work despite the difficult economic conditions that Iraq is going through, noting that many of these companies own advanced factories and produce a large number of goods that supply the Iraqi market with various goods, namely It needs to support its production through campaigns promoting its goods instead of relying on imported goods that drain the country financially.

The head of the committee added that the industry in Iraq needs legislative and regulatory steps in order to support industrial companies, indicating that the committee is working on approving a number of laws that will enhance local production, whether in the government or private sector, which in turn will reflect positively on all segments of society. House of Representatives  Media  Department 11/17/2020   LINK

Memorandum of Understanding for the advancement of the Iraqi banking system

Tuesday 17th November 2020   37  Baghdad: Morning   The Association of Private Banks and the American Information Systems Audit and Control Association signed a Memorandum of Understanding on governance, information technology security and auditing.

The executive director of the association, Ali Tariq, said, “The signing of the Memorandum of Understanding between the association and the Information Systems Audit and Control Association” ISACA “, which is headquartered in America, comes to enhance cooperation in the areas of governance, security and auditing of information technology, and that this step will add new to the national financial sector, which is in a stage Moving to a new, more developed reality despite all the challenges. ”

Big numbers

Tariq pointed out that “communicating with global institutions in the financial sector enhances the world’s confidence in the national banking system, which has a pivotal task in supporting the economic activities that the country seeks during the next stage, especially since the volume of work in the country is large and needs an effective and capable banking system. To deal with numbers Big “.

He pointed out that “through the Memorandum of Understanding, the process of developing human resources for workers in the financial sector will take place, a prepared plan for this regard and includes training, workshops and awareness programs to adhere to the instructions of the Central Bank of Iraq in the field of compliance with standards and controls of information technology and digital security.”

Information security

The Iraqi Private Banks Association said in a press statement, “The Executive Director of the Association of Private Banks Ali Tariq and the Director of the Iraq Branch of the Association for Auditing and Monitoring Global Information Systems, Ali Mustafa, signed a memorandum of understanding in Baghdad in the fields of qualification, training, workshops, consulting, governance and information security,” adding This memorandum will assist the financial sector in achieving global requirements in the field of information technology, information and cyber security. ”   LINK

Economists: changing some corporate positions is an important step towards reforms

Tuesday 17th November 2020  48  Baghdad: Hussein Faleh is an economist, making changes to some positions in economic institutions is an important step towards financial and economic reforms, and while they indicated that reforms need to re-establish the functional structure in institutions, they stressed the need to develop practical plans to combat corruption and stop the waste of public money.

Economist Safwan Qusay said in a statement to “Al-Sabah”: “The process of changing some of the positions of important institutions, especially the economic ones, is required in order to achieve real reforms in the state apparatus,” stressing the need for appointments to be in accordance with the data of scientific specialization, experience and competence.

Functional structure

He added, “If a specialized and competent person is chosen to head a department, there will be a change for the better in the work and management of this institution.”

He stressed “the necessity of forming the Federal Service Council to impose its will in the appointment process, away from the various influences,” noting that “financial and economic reform can be achieved through redrawing the functional structure within each state institution, as well as defining the relationship between ministries and agencies.” The Independent.

Financial reforms

He explained, “The accumulation of mistakes of previous years and the existence of corruption files led to the administrative structures to defend themselves and prevent real changes in order to hide previous mistakes.”

He continued, “We aspire to see effective financial reform through reducing operating spending and diversifying the economy by increasing Iraqi resources,” noting that “the top of the pyramid in the institution helps in the process of developing reforms, especially when it sets up economic development programs and works in a transparent manner.”

Fight corruption

For his part, the expert in financial affairs, Ahmed Al-Majidi, said, “The changes made by Prime Minister Mustafa Al-Kazemi in some important positions in the state, especially the governor of the Central Bank, the head of the National Investment Authority, the head of the Securities Commission, bank directors and others fall within the real economic reforms That the government promised Hold it. ”

He added, “The vision of the prime minister and his government staff is to maximize the state’s financial revenues in terms of diversifying the economy and reducing operational spending, as well as eliminating corruption,” indicating that reforms are not achieved without fighting Corruption.

He pointed out that “the government is determined to fight corruption, and these are good indicators towards achieving financial and economic reform in Iraq.”Country. ”   LINK

Governor of Maysan opens a branch of a private bank

Tuesday 17th November 2020  36   Al-Amara: Saad Hassan, Governor of Maysan, Ali Douai Lazim, inaugurated the Al-Taif Islamic Bank for Investment and Finance in the governorate center, with the aim of supporting the local economy and commercial movement within the province.

Douai assured Al-Sabah the importance of providing the necessary support to the private sector, as it is a key partner in supporting the reconstruction process in the governorate, and that expanding the banking business is the best way to provide services to customers from traders, investors, craftsmen and industrialists who own small and medium industries and areas of industrial development, and others To be close to their work or residence sites and to provide all banking requirements Modern.

He called for “the need to work on developing the banking sector and providing support to small and medium enterprises for job seekers in order to develop the Iraqi economy in general and the Missani in particular and create job opportunities for the people of the province.”

And “the province will contribute to providing all the necessary facilities and matters that facilitate the work of the banking sector, which will provide its services to all customers by modern modern methods.”   LINK

Economy and stage

Tuesday 17th November 2020 51  Hussein Thahab   Stopping at the requirements of the stage is inevitable in light of the current circumstance that the country and the world are experiencing and its repercussions on the national economy, whose shades touch the life of society in general, as the negative impact affects all the joints of the market.

It is necessary for us to carefully study the reality of the economic situation, evaluate all aspects of the economy and the revenue channels that are achieved daily or monthly, know their paths, as well as stop at the idle sectors and work to activate them by adopting internationally approved work methods and work to adopt them.

Cooperation with the international effort in all joints of work represents an urgent necessity, as the need to know the financial, tax, customs and other collection through sophisticated channels that do not allow manipulation, in any way, as well as in other sectors that require the supply of major capital and advanced technologies, and this is a challenge for the effort Global sophisticated and specialist.

As long as we need an advanced international effort, and everyone understands the importance of that, national steps must be combined at this important stage, in order to work to create an environment that attracts this effort, for which we urgently need its services to develop the productive and service sectors and the role of that in addressing economic problems That suffers Country.

The ingredients for achieving development are available in Iraq, which represents a renewed job opportunity for global and local companies, and this is almost not available in the countries of the world, as these companies realize that Iraq has a large job market at the regional and global level, but they do not intend it until after the availability of full guarantees, because Capital Funky Looking For Safe Business Sites.

Reality necessitates that we change the reality of implementation in a direction that attracts the evolving global and regional effort to compete in the Iraqi market and result in the qualitative implementation of all projects that the country needs in all cities and sectors, which have suffered neglect for decades due to confused and ineffective policies.

Today, Iraq is required to start a new phase that everyone contributes in order to bring the country out to safety and work to achieve a real multiplicity of resources, investing in Iraq’s capabilities and the efforts of international companies. Major.

Representative Economy: We will refer files related to the Ministry of Industry to Integrity

Time: 11/17/2020 16:25:47 Read: 442 times  {Baghdad: Al Furat News} A member of the Parliamentary Economic and Investment Committee, Ali Saadoun, revealed today, Tuesday, that files related to the Ministry of Industry have been transferred to Integrity soon.

Saadoun told Al-Furat News Agency that “the general managers of the company working in the Ministry of Industry were hosted, and it was a fruitful meeting,” indicating, “There are companies operating in Iraq that have production; but they need marketing by the media and support for their products by monitoring the import of materials.

Which are manufactured by these companies. ”

He added, “During the meeting, they discussed matters relating to legislative matters that concern the country’s industry, and the country cannot be built without an industrial sector.”

He stressed that “we will form investigative committees and transfer the files of default to the competent authorities of the Integrity Commission.”

“Most of the factories have new production lines, but they need government support,” Saadoun said, stressing that “the Iraqi product needs to be promoted by the media, and there must be a halt to the imported materials that are produced in Iraq and their protection, such as agricultural products.”   LINK

The first Iraqi comment on America’s decision to partially withdraw its forces

Time: 11/17/2020 14:42:17 Read: 3,848 times  (Baghdad: Al Furat News) The Parliamentary Security and Defense Committee commented, on Tuesday, on America’s decision to partially withdraw its forces from Iraq.

Committee member Badr Al-Ziyadi said, “The decision to withdraw America for 500 of its soldiers from Iraq was taken by US President Trump,” noting that “American forces need time to completely withdraw from Iraq.”

He added that “when the new American president comes, it is certain that he will have a specific policy, especially with regard to presence in Iraq,” stressing that “the Iraqi parliament has passed a law to remove the American forces and pressure has been put in place to implement it.”  The Pentagon recently issued a notice to commanders, known as a “warning order,” to begin planning to reduce the number of US forces to 2,500 troops in Afghanistan and 2,500 in Iraq by January 15, according to military officials.   LINK

Follow-up – Mawazine News   Kuwaiti Burgan Bank announced, on Tuesday, that it is discussing the sale of its 51% stake in Bank of Baghdad.

Economie| 05:32 – 11/17/2020  Burgan Bank stated, according to the Kuwait Stock Exchange website, that “discussions were held with potential buyers to buy its 51% stake in Bank of Baghdad.”

He added, “No agreement has been reached in this regard to date, and there is no impact on the financial position at this stage.” Ended 6/29 N

Revenues from border crossings double .. Parliament awaits 12 trillion dinars

Economie| 08:25 – 11/17/2020  Baghdad – Mawazine News  The imports of border crossings across the country, with the exception of Kurdistan, have doubled more than five times over the previous one, according to government statements.

According to experts, moving the file by Prime Minister Mustafa Al-Kazemi, could push the revenues of the ports in the coming months to the fore after oil imports to supplement the federal budget that suffers a large deficit, while the Finance Committee in the House of Representatives expects to reach 12 trillion dinars if it continues Those procedures.

According to a statement issued by the Ports Authority, Prime Minister Mustafa Al-Kazemi stressed during the meeting of the Council of Entities not associated with the Ministry and the independent bodies yesterday, Monday, the importance of developing border outlets and encouraging investment in them and accelerating the process of completing customs procedures to eliminate administrative and financial corruption.

He also directed the Joint Operations Command to close unofficial crossings to stop smuggling operations, harm the national economy and protect the local product, while agreeing to strengthen human resources by transferring employees from the intelligence service to the authority’s owners.

Mazhar Muhammad Salih, the financial advisor to the prime minister, said, “Adherence to the decisions of the first session of the meeting of the Council of Entities not associated with a ministry, will double the border crossings revenues from the import trade.”

He added that “non-oil revenues are still between 6-7% of the total budget revenues, but this government approach will make them rise by at least 25%, on top of which are the federal taxes and fees that are properly collected and according to the progress of electronic estimation, inventory and appraisal systems for imported goods,” That will be approved by the border outlets and their customs apparatus. ”

Parliamentary Finance unveils a new agreement with Erbil that includes a solution to the oil and port crises

Money  and business  Economy News _ Baghdad  The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed, on Tuesday, the existence of a draft agreement between Baghdad and Erbil that will be included in the 2021 budget, indicating that the agreement will end the oil export crisis and border crossings.

Al-Saffar said in a press interview, “The Kurdistan region sells oil at cheaper prices than the international market, as it was not issued through SOMO, and if the region agrees to sell oil through the company, the prices will rise significantly.”

He added that “the new agreement between Baghdad and Erbil will include the delivery of 50% of the region’s oil revenues to the Federal SOMO Company, while a mechanism will be developed to receive the Ministry of Finance about 50% of the imports from the border ports and airports.”

Al-Saffar pointed out that “Baghdad pledges to pay the dues of foreign companies operating in the region’s oil as well as allocating the budget and salaries,” indicating that “the agreement will be included in the 2021 budget.” Number of observations 78 Date of addendum 11/17/2020

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