TNT Tidbits From TNT Thursday Morning

TNT:Tishwash:  Adviser to the Prime Minister: The government plans to adopt international standards for banking reform


Prime Minister Muhammad Shia Al-Sudani is preparing to launch a project described as reformist for the Iraqi economy.


The Prime Minister’s Adviser for Economic Affairs, Abdul-Hussein Al-Anbaki, said in a statement reported by the official newspaper, “Al-Sudani is carrying out a major reform project for the Iraqi economy as a first step for the executive authority.”


Al-Anbaki added, “This project works to consolidate the large competitive market, protect vulnerable segments, greatly support the local product, and conduct banking reform that enables the agency to have correspondent banks abroad, and adopt international standards in the field of banking reform and reduce corruption.”


He pointed out that “the project also includes empowering the private sector and improving the business environment,” expressing his hope “that economic activity outside the state will move forward



Tishwash:  The Iraqi British Business Council Conference kicks off in Dubai


The conference of the Iraqi-British Business Council (IBBC) was launched in Dubai under the slogan (Iraq and identifying business opportunities).


Director of the Iraqi British Business Council IBBC Christoph Michaels said: “The conference sessions will include the sectors of industry, finance, water resources and the environment.”


He pointed out: “The main objective of the conference is to advance the reality of the private sector in Iraq to build an economy capable of providing job opportunities for all Iraqis away from the public sector.”


And Michaelis: “Most of the world’s countries consider the private sector a mainstay in creating a profitable and attractive economic environment for foreign investment, and it has become important in raising revenues and diversifying sources of income.”


The conference was attended by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif, the President of the Trade Bank of Iraq Salem Chalabi and representatives of the ministries and governorates, in addition to the UAE Assistant Minister of Trade, the Iraqi ambassador in Dubai, the British ambassador to Iraq, and a number of official figures and representatives of major international companies    link




CandyKisses:  The Governor of the Central Bank inaugurates the branch of the International Development Bank in Dubai


Wednesday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated the branch of the International Development Bank in the United Arab Emirates/Dubai


We feel happy and proud when we see one of our banks occupying a position within the UAE banking sector after obtaining the confidence of the Central Bank of the UAE,” Makheif said in a statement on the sidelines of the opening


He considered that “the event is important, on which we build hopes that our banks will participate with this vibrant sector in the sister country


He wished the bank, its management and employees continued progress and payment




CandyKisses:  Expectations of an explosive budget that will reach Parliament at the end of this month


Baghdad / Hussein Hatem


The Parliamentary Finance Committee estimates the budget for the year 2023 at a value of 135 billion, most of which is in the interest of investment and support for the private sector.


The Ministry of Finance announced, at the end of last month, the actual start of preparing the budget law for the year 2023, while indicating that there is no time limit for sending the budget law to the House of Representatives, but work to send it will be as soon as possible.


A member of the Parliamentary Finance Committee, Jamal Cougar, said, “The general financial budget for 2023 will be between 120 and 135 billion dollars.”


Cougar added, “The public financial budget consists of two parts. The first part, which is the operating budget, is related to salaries, retirement, the social protection network, and ministries’ expenses,” adding, “As for the second part, it is represented in the investment budget related to the amounts of new and strategic projects, in addition to private sector projects and job creation.” .


He pointed out that “the operational budget for the year 2023 was added to some amounts, as it reached 115 trillion, in contrast to the operating budget for the year 2021, which amounted at the time to 102 trillion.”


Cougar explained, “The authority of the Finance Committee relates to two issues, the first is to reduce the numbers if they are exaggerated, and the second issue is the transfer between the doors and it falls within the financial aspect.”


He pointed out, “Oil prices will not drop below $80,” noting that “the inclusion of appointments in the budget is not within the competence of Parliamentary Finance.”


In turn, a member of the House of Representatives, Mohsen Al-Saidi, suggested that “the federal financial budget bill for 2023 by the government will reach the House of Representatives at the end of this month.”


Al-Saidi added, “The House of Representatives is waiting for the government to complete the budget bill as soon as possible.”


The member of the House of Representatives indicated, “The speedy adoption of the budget law has become an urgent necessity, with the objectives included in the ministerial curriculum voted on by Parliament.”


Al-Saidi pointed out that “indications are that the government will speed up preparing the budget and sending it to Parliament at the end of this month,” stressing that “there are understandings between the political blocs on the necessity of passing the current year’s budget and not obstructing it.”