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Al-Fateh: Returning To The Chinese Agreement Will End The Economic Crisis In Iraq

Pratha News Agency  120 2021-09-13   Al-Fateh pledged, on Monday, to end the economic crisis and chaos in projects in Iraq by returning to the agreement with the Chinese side, indicating that the mismanagement of the current government created many economic failures despite the high prices.

A member of the Al-Fateh Alliance, Khaled Al-Saray, said in a statement to Al-Maalouma that “returning to the Chinese agreement after the elections will be a priority for the alliance and the forces allied with it.”

He added, “The Chinese agreement is capable of ending the chaos in Iraqi projects, as well as ending unemployment through the establishment of projects and factories to employ Iraqi manpower and the establishment of infrastructure to attract foreign investment.”

Al-Saray pointed out that “the mismanagement and planning of the current and previous governments led to the dinar’s decline against the dollar despite the rise in oil prices and the end of the war on terrorism that exhausted the state budget.”  https://burathanews.com/arabic/news/399715

https://economy-news.net/content.php?id=26295

Judiciary: Launching The Electronic Form Service For Legal Arguments And Divisions Next Month

Local  | 08:57 – 09/14/2021  Baghdad – Mawazine News   The Supreme Judicial Council announced, on Tuesday, that the electronic form service will be launched next month to request the form of legal arguments and legal divisions.

The council said, in a statement received by Mawazine News, that “the launch of the electronic form service to request the form of legal arguments, legal divisions and other electronic services will be available to citizens starting next October.”

The statement added, “This service will be available to citizens in all personal status courts affiliated with the presidencies of the Rusafa and Karkh Federal Courts of Appeal.”

He continued, “On the sidelines of this, the Technology Center – Systems Analysis and Development Department organized on Monday, 9/13/2021, a workshop for the Iraqi electronic justice portal system, which was held at the Judicial Development Institute.”

And he indicated, “The Iraqi electronic judiciary portal system is concerned with providing services to citizens, which will provide the launch of the electronic form service for legal arguments, legal divisions, federal court inquiries, lawyers’ guide, and the judicial map service (determining the location of each court), in addition to the open data, which is concerned with statistics and related to applications submitted and completed from Before each court, as well as launching a chat-boot system (smart chat), which will be a link between the court and the citizen to inquire about any inquiry or question without the citizen attending the court.

He added, “The workshop was launched today and was for the employees of the legal arguments and will last for three days, while the second workshop will start next Sunday, which will also last for three days, and for the employees of the legal divisions.”

He pointed out that “the mechanism for citizens to enter each form will be by opening the official page of the Supreme Judicial Council – through the electronic services tab or through the search engine (Google) – the Iraqi judiciary portal.”

He explained, “The login will be through his personal account (for the citizen) linked to the phone number that enables him to inquire and view his requests, indicating that the application will be submitted electronically after completing all the procedures inside the court, after which a (message to the citizen) will be sent to attend the court to complete the transaction procedures. Concerning the arguments and the legal divisions.” Ended 29/A 43      https://www.mawazin.net/Details.aspx?jimare=167345

Agriculture Confirms The Success Of Plans To Support Date Production And Expects It To Rise To One Million Tons This Year

Money  and business   Economy News _ Baghdad  The Ministry of Agriculture confirmed, on Tuesday, the success of the plan to increase the production of dates, which is expected to rise to about one million tons during the current year.

The spokesman for Agriculture, Hamid Al-Nayef, said in an interview with the Iraqi News Agency, and followed by “Al-Iqtisad News”, that “the palm sector witnessed a remarkable recovery and an increase in production in quantity and quality, after the efforts made by the ministry, as it dealt with the consequences of the successive wars that passed through Iraq, which led to To the owners of orchards leaving their orchards and razing operations, in addition to the spread of the Humira and Dubas insects in previous years, to undertake and with self-efforts to combat the two insects.

Al-Naif added, “The ministry succeeded in eliminating the dubas bug by 85%, in addition to reducing the donkey bug annually, in addition to the palm borer and other insects that infect palms, as well as the support provided by the ministry to the owners of orchards from fertilizers and exempting them from being included in the water plan, while Water is given to the orchards exceptionally out of plan.”

He continued: “In 2019, production started with (600) thousand tons, and in 2020, the production reached (735) thousand tons, and (600) thousand tons were exported to a number of countries in the world because the Iraqi dates are of good quality in terms of taste and as a result of export.

The Iraqi farmer was interested in palm trees and the number of investors increased.

He pointed out that “The ministry is optimistic this year and is proud of achieving an increase in the production of dates according to the data that suggest that pregnancy is good for most palms in addition to the control, and therefore we believe that the increase in date palms compared to last year reached 30%, which is approximately one million tons production.

He stressed that “there are preparations in full swing by the Plant Protection Department, which prepares dusting, in addition to granting exporters licenses for this matter,” noting that “the preparations will be great for exporting large quantities of dates to the world, especially since there is a reservation of some dates before production before Several countries, including Italy and the Netherlands, through Iraqi traders in Egypt.”

He explained that “the increase in the production of dates from last year will, in turn, supplement the budget in hard currency, employ thousands of manpower, and encourage investors to establish new orchards and revive the dates sector in Iraq.”   Views 63 Date Added 09/14/2021  https://economy-news.net/content.php?id=26295

Communications: Optical cable services target 100,000 homes in Baghdad at the end of this year

Money  and business  Economy News _ Baghdad  The Ministry of Communications confirmed, on Monday, the possibility of providing 100,000 homes with the services of the national optical cable project by the end of this year.

The spokesman for the Ministry of Communications, Raad al-Mashhadani, said in an interview with the Iraqi News Agency and followed by “Al-Iqtisad News”, that “more than 3,500 homes on the Rusafa side of Baghdad have been equipped with Internet services provided by the national project for optical cable, or the so-called (Fiber to Home)”, Pointing out that  “the ministry started the project four months ago.”

He added, “There are plans to equip 100,000 homes on the Rusafa side with the internet services provided by the project until the end of this year.”

A spokesman for the Ministry of Communications indicated that “the ministry, next to Karkh, is working in full swing to expand optical cable services, support the national line at prices by calls, and provide a number of encrypted satellite channels,” noting that  “the project provided great job opportunities for the unemployed.”

Views 59 Date Added 09/13/2021    https://economy-news.net/content.php?id=26288

The Central Bank Organizes A Lecture On Financing And Banking Services

September 14, 2021   The Central Bank of Iraq, Mosul Branch, organized an introductory lecture on (formulas of Islamic financing and banking services), and the lecture included two main axes, namely, formulas of financing and banking services in accordance with Islamic Sharia standards, and the basics of Islamic banking in the presence of a group of branch employees.    https://cbi.iq/news/view/1822

Semi-Normal Credit For Banks And Iraqis Deals With Cash To Settle Their Transactions

Reports and analyzes  Breaking  Currency for sale  Central Bank of Iraq  Special banks

2021-09-13 01:01  Twilight News / Dozens of government and private banks are active in Iraq and their activities between commercial, Islamic, agricultural and industrial activities.

Bank credit is what banks are doing within their work on money or granting facilities (funding for assets and other goods) are made between two parties and the other party is called the borrower’s client and resulting from this contract profit margin of the bank (benefit, return on investment) or (return on investment) Murabaha or harmonization or commission in Islamic banks) versus the amount given to the customer at multiple intervals agreed upon according to the terms of the contract.

Extruded Banks

Advisor to the Iraqi Banks Association Samir Al-Nasiri said in an interview with Shakf News Agency; “There are 72 private banks in Iraq, credit exercises varying proportions,” refusing “what is said to do not exercise credit.”

Al-Nassiri adds; “There are about 50 banks in Iraq during the past and current loans through the Central Bank’s Central Bank’s initiative for 10,000 projects for 18,000 people worth a financial value exceeded 700 billion dinars.”

The Nasiri recognizes “there are some troubled banks that suffer from a lack of flow and have not adhered to the central bank’s instructions and to bring people deposits”, stressing that “these banks are closed by the bank and some of them under the guardianship and others are trying to return to the market after restructuring”.

The Gravity Of Credit Grant

The international expert and Southern Bank of South Hisham Al-Shamali says in an interview with the Shakf News Agency; “Private banks are practicing credit as a result of the rest of government banks,

but are frequent because of the gravity of credit granting and biting some people in bringing them from funds, which lead to the resort to the courts, which take years long,” he said, adding that “granting loans and credit practice has nothing to do with capital capital”.

“The person in payment will certainly affect the bank’s liquidity,” he said. “At the same time,” he said.

“This can not be circulated to all citizens who do not work in the government sector because there are insufficient guarantees without being there.”

The northern denied the presence of banks who attributed the central bank’s auction.

Banks and Central Bank Funds

He says Professor of Economics at the Iraqi University Abdul Rahman Al Mashhadani in an interview with Shakf News; “The banks founded in Iraq are a small capital of JD 250 billion and about $200 million and now equal to $175 million after raising the dollar and therefore do not allow these funds to build production projects.”

It shows the scene; “These banks are based on the central bank in two things first entering the currency auction and is achieving stable and stable profits and does not need a risk of getting five to 8 million or more and selling them to traders at the market, regardless of the presentation of statements, and the second order is over The Central Bank on initiatives launched by the latter for projects and housing, which receives banks on the benefits of Labas via these initiatives, indicating that Iraqi banks are working with central bank funds.”

And confirms the scene; “What needs Iraqi banks is integration and we do not need all these banks, which have reached more than 70 banks,” he said:

“By comparing them with the banks of Arab countries, our banks are just as they do not only, which we have noticed when the Kuwaiti Bank has a capital 100 billion dollars trying to partnership with one of the civil banks in Iraq, which has no more than $150 million.”

The Central Bank issued a study in 2016 that “investment proportion to the total assets in commercial banks is 8%”, noting that “some of these commercial banks have no investments.”

Government Bank Control

“The weak credit for civil banks returns to control of government banks, which constitute 85% in return, the share of civil banks is 15%,” says Prime Minister Mohammed Saleh’s financial affairs.

“Banking reform must begin with government banks first because they have 65% government deposits,” he said.

“The public is deposited with government banks due to its further deployment and history of government banks, while Some civil banks to problems and I went public deposits.”

Saleh said; The “capital banks are more than government banks, civil banks do not expand in credit on the pretext of collecting these credits are weak, and they are causing the state’s competition because government banks are backed by silence.”

Currency Drain

The Member of the Economic and Investment Investment of Parliamentary Nada Shaker Jawdt in an interview with Shakf News said that “some civil banks have turned into drain places for the difficult currency through the currency auction,” confirmed “the lack of real credit for those banks, which achieves the maximum interest of banking work in construction, investment and reconstruction As in force in most countries of the world.”

“Many private banks are moving away from credit work because of the weakness of it and is working with low money and a few deposits and get their profits from the Central Bank of Iraq, which is deployed from its banking jurisdiction,” he said.

Dealers: We Deal With Cash

The merchant Mohammed al-Hassani says in an interview with Shakf News Agency; The “merchant has no confidence in banks as a result of its failure to maintain the funds of depositors that often declare its bankruptcy and depository funds are gearing winds.

Al-Hassani said; “Most traders deal with the settlement of their trade transactions and suspension of receivables away from banks,” the same time is that “transfers from and overseas are done by banking offices.”

“The resettlement process for employee salaries is the other failed in Iraq, as soon as the salary in MasterCard is transferred to the employee, directly withdraw all salary, indicating that the citizen is not confident of government banks and the law.”

Shakf News Agency contacted the central bank for many times to inquire from him and explain the causes of this, but did not respond to calls.

The World Bank report indicates that 89% of adults in Iraq have no bank accounts, noting that many individuals are dealing with banks because of the disruption of citizens to banks.

In his annual financial status for 2016, the bank said that “World Bank estimates for 2014 indicated that the number of deposits for Iraqis to adults reached 11%, 89% of these adults have no bank accounts.

The administrative routine of banks in opening the savings accounts led to the reluctance of most individuals to open these accounts among banks and head to the process in the role. LINK

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