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More Iraqi News Wednesday PM 2-10-21

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An economist to NINA: The formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper

Wednesday 10, February 2021 10:37 | Economical Views: 377  Baghdad / NINA / Economic expert, Raad Twaij, confirmed that the formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper.

Twig said in a statement to the Iraqi National Agency for Sons / NINA /: “The formation of a reform committee by the prime minister is an unprecedented step and an applied aspect of the white paper, and thus the beginning of the restructuring of the Iraqi economy and the analysis of the defects that are centered in the rentier economy and trying to rid the Iraqi economy of gaps and vibrations, especially The recent financial crisis and the World Bank’s expectations for a 12% contraction this year, noting that “the rise in oil prices above $ 60 a barrel is considered a major contributing factor to support the reform wave and to complete the reform process.”

Twig called for the Iraqi economy to be divided into two halves, the first part related to the losing sectors, how to reform it, the winning part, how to deepen it, and the need to rely on human development, which will contribute to accelerating the reform process and building new capabilities and structures for the Iraqi economy. / End 8

Barzani Clarifies Regarding The Sale Of The Region’s Oil: Failure To Reach An Agreement With Baghdad Will Harm Iraq

Political| 02:00 – 10/02/2021    Baghdad Mawazine News The President of the Kurdistan Regional Government, Masrour Barzani, explained, on Wednesday, regarding the sale of the region’s oil, pointing out that failure to reach an agreement with Baghdad will harm all of Iraq.

Barzani said during a press conference, “The regional government is still discussing with Baghdad the files of the budget and the delivery of oil.”

He added, “If Baghdad tries to impose its will on Kurdistan, the region will work by all means to ensure what Kurdistan needs.”

Barzani continued: “We will work in all directions, with the government and parliament, in order not to reach a dead end,” noting that “the failure of Baghdad and Erbil to reach an agreement will harm all Iraq.”

And, and that “some political forces in Baghdad are struggling with each other to attract votes from the Iraqi street before the upcoming Federal Parliament elections.”Barzani called, ”

He stressed that “handing over all oil to the federal government is an unconstitutional requirement,” adding: “We refuse to hand over all oil to the central government, because the region has obligations.”

He pointed out that “Iraqi political parties are struggling with each other to attract the voices of the street before the elections,” calling on “the Kurdish parties to unify their position in the budget file.”

Barzani explained that the region “requested that the budget be transparent and in accordance with the articles of the Iraqi constitution,” noting that “Kurdistan supports and supports the previous agreement that was signed with the federal government.”

He pointed out, “There are those who say that Kurdistan sells oil for less than SOMO at $ 10, and this is not true. The matter is related to the type of oil extracted from Kurdistan, and even from Kirkuk, which goes towards Ceyhan.”

He added, “The expenses of exporting oil are the responsibility of the government in the region, and this affects the final price of oil that the region sells, and this issue is discussed with Baghdad,” indicating: “What is said about the price difference between Sumo and Erbil, is this part related to extracting and selling oil and its cost. that”.

Barzani added, “We are discussing the oil file with Baghdad and trying to re-examine everything related to it, but it takes time. The companies operating in the oil field in the region are registered companies, and the number is 130 companies, all of which are committed to the instructions of the regional government.” Ended 29 / A 43

Parliamentary Finance Is Allocated To The Port Of Faw And Votes On Holders Of Bachelors Degrees In The Interior And Defense

Editing date: 10/2/2021 12:08 • 60 read times  [Baghdad-Where]  The Finance Committee in the House of Representatives voted to reallocate 400 billion dinars for the construction of the large Al-Faw port, as well as transferring bachelor’s holders in defense and interior to civilian jobs.

The Media Department of the House of Representatives stated in a statement that “the Finance Committee held its forty-fourth meeting today, Tuesday, in which it resumed its discussions on the draft federal budget bill for 2021, in which it almost put the final touches on the law before submitting it to a vote in the House of Representatives.”

She added that “the committee discussed at the beginning of the meeting the file of foreign loans, which it has identified in the narrowest limits, including continuous and economically feasible projects, taking this step after a thorough study and hosting most of the government ministers and more than 300 government officials in various sectors and reviewing all data and reports of the Office of Financial Supervision “.

And the media department added, “The Finance Committee reviewed the report of the subcommittee on the Ministry of Transport, as it voted to reallocate 400 billion dinars to build the large Faw port.”

She indicated that “the sub-committee for studying the file of the Ministry of Youth and Sports and studying its financial allocations and projects discussed the possibility of providing a financial allocation to complete important projects with high achievement rates so that they could see the light soon.” Civil jobs in the two ministries. ”

Iraq Stock Exchange Closed Down In Wednesday’s Trading Session

Economy  Wednesday 10 February 2021 | 03:24 pm| Views: 104  The Iraqi Stock Exchange Index recorded a decline of 1.49% in the trading session on Wednesday, stopping at 514.38 points. Shares of 35 companies decreased, according to the index, while 8 others rose, while 17 companies maintained their share price. The number of shares traded reached 6,946,724,858 shares, with a value of 5,523,975,459 Iraqi dinars, obtained from the conclusion of 597 deals, including 60 joint-stock companies, out of 104 companies registered in the stock exchange.

New Electronic Banking Service Launched In Iraq

Date  2/9/2021 8:27:49 PM     (MENAFN – Iraq Business News) By John Lee.

The Central Bank of Iraq (CBI) has announced the launch of its “digital enrollment service”, which it says is the first of its kind in Iraq and the region.

According to a statement from the CBI:  “Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.

“This service is considered a modern and different trend due to its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises the traditional barriers in the Iraqi banking sector. ”

Rudaw reports that First Iraqi Bank , established six months ago by Iraqi entrepreneur Kawa Rekani, is the sole bank to get permission to operate such a service, allowing customers to perform financial transactions online or through their mobile device with ease rather than through cash payments.

More details here from Rudaw.  (Sources: Central Bank of Iraq, Rudaw)

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