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Samson:  US wants to encourage American investment in Iraq: State Department spokesperson https://t.co/LVLnvyJ0jl — U.S. Consulate General Erbil (@USConGenErbil) June 14, 2020

PompeyPete:  No one touching it without an International currency !

Don961:  Foreign: Kuwait has expressed its economic support to Iraq

Political| 07:46 – 15/06/2020  Baghdad – Mawazine News, The

Ministry of Foreign Affairs confirmed, on Monday, that Kuwait has shown great support in terms of economic and coordination.

“The visit of the Kuwaiti Foreign Minister, Ahmed Nasser Al-Sabah, came with the aim of strengthening the relationship between the two countries, exchanging views and proposing ways and capabilities available to get out of the economic crisis in light of the Corona pandemic and low oil prices in a way that is in the interest of both countries,” said ministry spokesman Ahmed al-Sahaf, according to the official agency. .

He added, “Kuwait expressed its great support at the economic level and the level of coordination for the work of the Iraqi-Kuwaiti committee to be held soon, which would follow up on all the files and outstanding affairs between the two sides.”

Al-Sahaf pointed out that “Foreign Minister Fouad Hussein discussed with his Kuwaiti counterpart the necessary support between Iraq and Kuwait at the level of the Gulf Cooperation Council and the energy linking file, as well as Iraq’s presence in international forums and related to strengthening the role of Iraq and maintaining it as a source of strength in the region.” End / 29 / h LINK

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Samson:  Deputy for Al-Fateh: It is not possible to complete the current year without approving a budget

09:07 – 15/06/2020
The deputy from the Al-Fateh Alliance Fadel Jaber said that the current year cannot be completed without approving any budget, pointing out that Parliament will pursue the matter in order to vote on a budget even for the remaining months.

Jaber said to “The Information”, that “the financial crisis that ravaged the world and Iraq in particular can be overcome, especially with the recovery of the money that the region has in relation to border ports and oil imports.”

He added that “the current year cannot go without any budget approved for it, as a vote must be voted on for the remaining months in order to prepare for the budget for the next year,” noting that “Parliament will intervene in the matter in order to know the financial situation of the country and approve a budget for the remaining months”.

And that “a lot of budget financing chapters are available at the present time to overcome the current crisis away from deducting the salaries of employees and retirees, using the revenues of ports, airports, agriculture, industry, taxes and tourism.”   LINK

Don961:  The arrest of a gang that sells and promotes counterfeit currencies in Baghdad

Editing Date: 6/14/2020 20:49 Ayna News –

Baghdad, the intelligence agency detachments arrested, on Sunday, a gang working with selling and promoting counterfeit currency in the capital, Baghdad.

“The intelligence agency detachments in the Ministry of the Interior, in cooperation with a detachment of the Federal Police, arrested three suspects in Baghdad who were working to sell and promote counterfeit currency,” the agency’s media said in a statement.

He added that “they were arrested with the crime, and they possessed 190 false class 100 US dollars, a Berta type pistol, and a wheel set used for transportation. The counterfeit currency was seized with a fundamental arrest record and the defendants were referred to the competent authorities.”  LINK

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Samson:  Do we need a translation between the old paper transactions system for Iraqi banks and the new system based on electronic banking systems ?

15th June, 2020

I often had this question, there and amid the chaos of daily work, I always kept repeating this question with myself, do we need this translation

Everyone has become aware of the importance of electronic systems for banks, which are called banking systems (Core Banking System). Perhaps the Central Bank of Iraq is the first sponsor and supporter to direct banks towards the acquisition of banking systems of all kinds and urge banks to apply them and make them a condition of evaluation conditions for Iraqi banks because of their importance Significant in developing the banking sector in Iraq and moving to electronic systems instead of paper-based systems based on records, books and folders

But, through his vision, there is a large group that still prefers paperwork over electronic systems, and there has always been an argument that does not resolve between supporters of the paper system, records, and books, and between supporters of electronic banking systems, and I, among them, worked in the banking system department of one of the large and ancient Iraqi banks, and in my opinion, This controversy will remain present in all other Iraqi banks in particular

Here it was necessary to find a solution that satisfies both parties, so whatever we try to explain to the supporters of the paper transaction system and the electronic banking system and the way it works, we clashed with them with two important things

The first: the vast majority of them, especially the elderly of them, are not good at using a computer or computer

The second: their lack of acceptance of the electronic system and the new way of handling automatic operations within the banking system, and here we would like to note that we have all the respect and appreciation of these cadres as the basis from which we draw scientific and practical experience and that is translated into the electronic banking system

And now we have to translate between the old paper-based transactions system, which has become inconsistent with the volume of business and its development around the world and the new electronic system, for example that the registration document number translates to = the transaction number in the banking system or what is called (Transaction Number) and that the authorization of the accounting registration document is from During the signature of the person previously authorized on the document, it is now translated to = Transaction Approval in the Banking System (Transaction Approval)
And isolated treasurers in another corner away from other employees translate into = so-called PAL (Teller) is the same employee who executes the process on the banking system and receives and delivers money directly with the customer or customer

With this development in electronic banking systems, the method of control and auditing of paper transactions in the past has also become ineffective with the electronic banking system, where the audit process must be electronically and using the same system and its reports

Ultimately, with the Central Bank continuing to develop and support electronic banking systems and pushing private and government banks to develop their systems as well, I expect that in the next five years we will be able to conduct banking operations via mobile devices and from home without the need for routine reviews and long waits in circles and banks

Ibrahim Mohamed, Amin Mohamed  –  Director of Risk Management, Kurdistan International Islamic Bank   LINK

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Samson:  Parliamentary endowments reveal a trend to limit official holidays

15th June 2020

The head of the Endowments and Religious Affairs Committee in the House of Representatives Hussein Al-Yasari revealed a trend in the committee to reduce official holidays in the law related to this and increase working hours in state departments.

Al-Yasari said in a press statement today that the committee had previously discussed with Speaker of Parliament Muhammad Al-Halbousi the activation of the law on religious and national official holidays and reading it for the first and second time and then legislating it, but the conditions of the ban prevented that. He added, “The committee fully believes that the holidays in Iraq, whether official or others, exceeded what exists in the countries of the world, as well as the conditions of the curfew that prevented many countries, including Iraq, from continuing to work in the districts, which contributed to the delay in completing the transactions of citizens that are related to their lives.” Daily, which makes us in constant discussions with specialized agencies to reduce them.”

The leftist asserted that “the committee seeks to establish important events that have contact with citizens as the day of the declaration of victory over ISIS, or the national day for Iraq on the third of October, and on July 14 to announce the republican system in Iraq as holidays, and to add religious holidays, which are the first and tenth of the month Muharram, the Prophet’s birthday, the days of Eid al-Fitr and the blessed Sacrifice, and add a proposal to announce a public holiday on December 25 to mark the anniversary of the birth of Christ.

The Chairman of the Endowments and Religious Affairs Committee indicated that “there is a proposal to entrust a limited number of these holidays to the governors after the approval of the Council of Ministers, and that the name of the law (the Law of Official Holidays and Memorabilia), such as celebrating the teacher’s day or the popular uprising in which there will be no official holiday.

LINK