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Zig’s Place Chat and News Saturday Late PM 4-17-21

Zig:  Welcome to zig’s place, a chat room for dinar speculators and others….discuss any topic that you wish here

Butterfly   Al-Rafidain raises the interest of saving accounts for depositors their money

04/17/2021 10:10:32 {Baghdad: Al Furat News} Today, Saturday, the Rafidain Bank announced that the interest rate for citizens’ savings accounts will be raised to 4.5 percent.

The bank’s media office said in a statement that Al Furat News received a copy of, that “based on the bank’s policy aimed at maximizing revenues in order to attract cash and encourage customers to save their money instead of hoarding it at home, the bank decided to increase the interest rate on savings accounts to 4.5 percent”.

The statement added that “the bank decided to increase the interest rate on deposits for a period of six months to become 4.5 percent, and to increase the interest rate on fixed deposits for a year to be 5.5 percent, in addition to increasing the interest rate on deposits for a period of two years to become 6.5 percent.”

The statement indicated that “the bank decided to pay interest for fixed deposits to be granted in advance, provided that the citizen undertakes not to break it and withdraw it. Otherwise, the interest granted will be deducted from the principal amount of the deposit, and this will be the basis for the comparison between the deposit and the savings account and the customer.”  alforatnews.com

butterfly   Parliamentary Finance: We have no choice but to question and dismiss the Minister of Finance

2021-04-17 A member of the Parliamentary Finance Committee, Muhammad Al-Shabaki, confirmed, on Saturday, that the Minister of Finance Ali Allawi’s continuation of this approach may prompt us to interrogate him as he failed to manage the financial policy.

Al-Shabaki said in a press statement, “The Minister of Finance’s letter is a recommendation to the Council of Ministers to make tax deductions retroactively as of 1/1/2020.”

He added that “Article 34, which the Minister of Finance praised, has nothing to do with deducting the salaries of employees,” noting that “the Minister of Finance continues this approach, so we have no choice but to question him and remove him from his post.”

“There is political and popular discontent, against the backdrop of Finance Minister Ali Allawi’s insistence on imposing tax deductions on employees,” Al-Shibaki pointed out.

Representative of the Parliamentary Change Bloc, Ghaleb Muhammad, had called in a previous statement for the Council of Ministers to change the name of the Federal Ministry of Finance to the Ministry of Loans and Taxes, accusing Minister of Finance Ali Allawi of suppressing the poor and exhausted employees.   burathanews.com

butterfly   Deputy: The Minister of Finance’s decision is a collective punishment of the people

4/17/2021 15:31 [Baghdad-Where]   Representative Bahar Mahmoud, on Saturday, expressed her surprise at the Finance Minister’s proposal to impose taxes on the salaries of employees under the pretext of maximizing their resources, indicating that the salaries of employees were originally reduced with the increase of the dollar price.

Said Mahmoud in a statement, it can not be the Ministry of Finance to maximize revenue at the expense of the employee ‘s salary or retired simple, which should not affect being the only source of income, so we reject the policy of collective punishment adopted by the Ministry of Finance through the imposition of taxes on employees ‘ salaries. ”

She added: the general budget law voted by the parliament did not address the prejudice to the salaries of staff canceled paragraph deductions, indicating that the staff and the salaries of retirees have reduced already with the lifting of the dollar by 20 percent.

She went to the Ministry of Finance search for points of entries and other to maximize their revenues away from repeat Targeting employee salaries.    alliraqnews.com

butterfly   17th April 2021 in Politics EU to support UN electoral assistance in Iraq UN signs financing agreement with the European Union to support UN electoral assistance to Iraq

The United Nations in Iraq welcomes the contribution of EUR 5.51 million from the European Union to a UN-led project to support capacity-building within the Independent High Electoral Commission (IHEC).

The EU funding will also support deployment of UN electoral advisers as IHEC prepares for the October 2021 national elections.

“High voter turnout will be key in ensuring a parliament and government that are representative of all Iraqis,” said EU Ambassador Martin Huth (pictured). “By supporting the organisation of the elections, the EU hopes to build the confidence among the Iraqi people in their elections and help IHEC establish a free, fair and inclusive electoral process that is deserving of their trust.”

The European Union’s contribution to the UN assistance project comes in addition to funding from Germany, the Netherlands and France, bringing total contributions from the EU and its member states to USD 18.6 million.

On behalf of the United Nations Assistance Mission for Iraq (UNAMI), the United Nations Development Programme (UNDP) signed an agreement with the EU on 8 April to manage the financing and administration of the project. The United Nations thanks the European Union for its contribution, which strengthens Iraq’s ability to hold free, fair and transparent elections in Iraq.   (Source: UN)

butterfly    18th April 2021 in Healthcare Australia provides $1.6m for Women in Iraq he Australian Government Department of Foreign Affairs and Trade (DFAT) renewed its commitment to reproductive health and rights of women and girls, and prevention and response to gender-based violence in humanitarian settings. The project will support the work carried out by UNFPA with a AUD 2 million [USD 1.6 million] contribution.

Women and girls, including individuals with disabilities and survivors of gender-based violence; and men and boys, as allies of the prevention and response to gender-based issues, will benefit from awareness and integrated gender-based violence and sexual and reproductive health services.

Ms Paula Ganly (pictured), the Australian Ambassador to Iraq, said:

“Australia is pleased to continue our important partnership with UNFPA Iraq … Providing assistance for reproductive health needs and rights of women and girls and protection from gender-based violence is essential to ensuring their full and equal participation in society.”

Acknowledging the new funding, Dr Rita Columbia, UNFPA Representative to Iraq, said:

“I extend our sincere gratitude to the longstanding partnership with DFAT. This generous contribution will help women and girls to have easier access to quality gender-based violence and sexual and reproductive health services, especially to women and girls with disabilities.

“Today, due to the uncertainty environment caused by the COVID-19 pandemic, it is more important than ever to work hand-in-hand to help the most vulnerable people stay healthy and live in a violence-free environment.”

Australia is a strong advocate for women and girls’ protection and reproductive rights. Since 2014, Australia has contributed AUD 18.2 million to UNFPA programming in Iraq, helping refugees, internally displaced people, people with disabilities, host communities and returnees.   (Source: UN)

sandyf   @butterfly Al-Taif Islamic Bank (BTIB) invited its shareholders for the public subscription on 50 bn shares starting Apr. 13, 2021 to increase its capital from IQD153 bn to IQD203 bn through 32.7% rights issue. The subscription will be at least for 30 days and not exceed 60 days, while the first 15 days will be for shareholders. – Another reason why revaluations of any more than a fraction of a percent never happen.

butterfly  18th April 2021 in Healthcare, Politics As Lebanon is sinking deeper into an unprecedented financial and political crisis, many medical doctors are increasingly packing their bags and leaving for the Gulf or Europe, and more recently for Iraq.

Click here to read the full article. https://www.al-monitor.com/originals/2021/04/more-lebanese-doctors-leave-iraq

butterfly   sandyf well ** I guess lol

butterfly  I noticed they are still discussing the budget. Not happy with some of it.

butterfly  Saturday 17, April 2021 23:30 Former Prime Minister Haider al-Abadi affirmed that: The prime minister had left the Dawa Party without planning.

And he said in a televised interview that: The Dawa Party alone bore the burden of the difficult stage.

He added that some preachers used the position for their personal interests.

He made it clear that the party leader is not necessarily fit to lead the state.

butterfly  Saturday 17, April 2021 23:54 Former Prime Minister Haider Al-Abadi said that the government of Adel Abdul Mahdi killed the demonstrators in cold blood.

He added in a televised interview that the martyrs of Tishreen were carrying flags only.

He noted that Abdul-Mahdi’s government had entered the country in a dark tunnel.

He continued: Abdul Mahdi was supposed to speak with the masses directly.

butterfly  Central Bank says No Further Devaluation of Iraqi Dinar 13th April 2021 in Iraq Banking & Finance News The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar.

Ammar Mohammed said:   “It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars … to serve the interests of the Iraqi economy … it will also enhance the competitiveness of domestic products and reduce imports …

“The decision … is final, and there will be no further change in this rate.”

He added that the Central Bank has sufficient foreign reserves to sustain the new exchange rate.

(Source: Govt of Iraq)

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