Category: Committee

KRG, Kurdistan Parliament discuss Financial Situation

A top Kurdistan Regional Government delegation, headed by Prime Minister Nechirvan Barzani held an extensive meeting with the Kurdistan Parliament Deputy Speaker Jaafar Ebrahim Eminky and heads of Parliamentary Committees of Natural Resources, Industry, Energy, Financial and Legal Affairs.

The KRG delegation included Deputy Prime Minister Qubad Talabani and a number of senior officials.

In the meeting both sides discussed a number of pressing issues related to the current situation in the Kurdistan Region. They shed light on budget options for the 2018 fiscal year, relations with Baghdad, Kurdistan oil production, mechanisms to pay back debts, fighting corruption, transparency, reforms and efforts to protect the constitutional rights of the Kurdistan Region.

The KRG and Parliament officials stressed on the importance of continued cooperation and coordination between the Kurdistan Government and Parliament and agreed that priority should be given to securing the salaries of the public sector employees, conducting reforms and auditing in the payroll systems of the Region.

Both sides also agreed that relevant Kurdistan Parliament committees visit their federal counterparts in Baghdad to lobby against passing the draft 2018 federal budget bill that significantly reduced Kurdistan Region’s share of the federal budget.

(Source: KRG)

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Hilali: Refund of frozen funds provides international investment in Iraq

Hilali: Refund of frozen funds provides international investment in Iraq

12/13/2017

A member of the parliamentary legal committee Ibtisam al-Hilali on Wednesday, "lifting Iraq from Chapter VII and the recovery of frozen funds abroad is an important step for large international investment in the country.

"Al-Hilali said in a press statement that "after this important international decision on the concerned government agencies to move quickly to start recovering money and Iraqi assets frozen in the banks and international banks.

"She added that "this important decision and the subsequent important government steps will enhance the confidence of the international community in Iraq’s economic policy in particular, which opens the way for an international entry to invest in the country.

"The UN Security Council last Friday decided to exit Iraq from Chapter VII on Friday by adopting resolution 2390/2017 unanimously.

The UN Security Council put Iraq under the weight of Chapter VII in the framework of UN sanctions imposed after the invasion of Kuwait in 1990.

http://aletejahtv.org/permalink/196195.html

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Hilali: Refund of frozen funds provides international investment in Iraq

Hilali: Refund of frozen funds provides international investment in Iraq

12/13/2017

A member of the parliamentary legal committee Ibtisam al-Hilali on Wednesday, "lifting Iraq from Chapter VII and the recovery of frozen funds abroad is an important step for large international investment in the country.

"Al-Hilali said in a press statement that "after this important international decision on the concerned government agencies to move quickly to start recovering money and Iraqi assets frozen in the banks and international banks.

"She added that "this important decision and the subsequent important government steps will enhance the confidence of the international community in Iraq’s economic policy in particular, which opens the way for an international entry to invest in the country.

"The UN Security Council last Friday decided to exit Iraq from Chapter VII on Friday by adopting resolution 2390/2017 unanimously.

The UN Security Council put Iraq under the weight of Chapter VII in the framework of UN sanctions imposed after the invasion of Kuwait in 1990.

http://aletejahtv.org/permalink/196195.html

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Parliamentary Finance: Iraq loses $ 263 per second

Parliamentary Finance: Iraq loses $ 263 per second

12/13/2017

A member of the parliamentary finance committee, Haitham al-Jubouri, said Wednesday that "Iraq loses 263 dollars per second because of corruption in the country," explaining that "the parties interfere in the work of anti-corruption committees.

"Jubouri said in a statement, "Trend Press," that since the application of the law on customs tariffs in Iraq by 2013 so far was expected to be the state revenues estimated at 8 to 9 billion dollars a year, because the size of what is sold from the window of the currency in the Central Bank Iraq is more than 40 billion dollars,

if we take the lowest percentage of customs and 10% added to the ratio of 3% of the customs duty is the total 13% of this amount will be the value of customs 5.2 billion dollars.

He added that "Iraq is losing 263 dollars per second because of the corruption of customs officials," noting that "the large and rampant corruption is located at the border crossings.

"He pointed out that "we in parliament formed a committee, but because of the interference of political parties in its work has been terminated.

"He explained that "the only step to combat corruption is to strengthen the main regulatory tools, namely the Integrity Commission and the Bureau of Financial Supervision and the security services and reform of the judiciary because there are many problems in the judiciary where some files are transferred to the judiciary, but because of corruption, these files are settled by some corrupt" .

He pointed out that "can not combat corruption by raising slogans and the House of Representatives to leave the courtesies that are at the expense of the Iraqi citizen.

"The House intends to complete the questioning of ministers as former finance minister and former defense minister in the past period, while confirming his quest to complete the questioning of new ministers in the next legislative session.

http://aletejahtv.org/permalink/196162.html

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Stability Council: 30 global banks pose a potential threat to the international financial system

Stability Council: 30 global banks pose a potential threat to the international financial system
12/12/2017

The Global Financial Stability Board has issued a new list of 30 international banks that are required to increase their own capital, because the size of these banks is so great that they pose a threat to the international financial system if they falter. "

The board put forward the new list on Tuesday, saying that the 3.5 per cent is empty, with no bank required for that additional capital ratio. In the second, JPMorgan is the only one in need of 2.5 per cent, Capitalized by 2 per cent; Bank of America, Citigroup, Deutsche Bank and HSBC.

"Eight banks are required to raise their own capital by 1.5 percent, Bank of China, Barclays, BNP Paribas, China Construction Bank, Goldman Sachs, Industrial and Commercial Bank of China, Mitsubishi UFJ Bank of Japan, .

China’s Agricultural Bank, New York Mellon Bank, Swiss Credit Suisse, Crédit Agricole France, ING Dutch, Mizuho Japan, Morgan Stanley, Royal Bank of Scotland, Santander, Société Générale, Standard Chartered Bank, State Street, Sumitomo Misui, UBS, and Italian Credit Bank.

The G20, which was established in 2009, amends this list annually in accordance with the developments of the banks in terms of their capital and risk-weighted assets.

These banks are required to raise additional capital above the minimum required according to several criteria; The Basel Committee "and that additional ratio is divided into segments ranging from one to 3.5 per cent."

http://www.knoozmedia.com/289764/%D9…%D9%84-%D8%AE/

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Parliamentary Legal Committee: Stop the salaries of a number of ministers and officials

Parliamentary Legal Committee: Stop the salaries of a number of ministers and officials

12/11/2017

The government will stop the salaries of a number of ministers and parliamentarians and directors-general, including the Kurds, all of them from previous sessions in the government and parliament

"The retirement law has a set of basic conditions and two basic conditions – age and service. Those whose salaries are stopped are under the age of 50 and have not served for 15 years, so they are not retired and will not pay their salaries," he said.

http://www.ikhnews.com/index.php?page=article&id=162906

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Abadi focuses on two important issues in his next war

Abadi focuses on two important issues in his next war
12/10/2017

A source close to Prime Minister Haider al-Abadi said the latter planned to launch a war involving two important issues, including the recovery of money smuggled abroad.

The source said that "the most prominent files in the war of Abadi reform, one of them the file of money smuggled, and estimated the funds more than $ 100 billion are located in the banks of Arab and foreign countries," asserting "the formation of committees to recover these funds under the supervision of the United Nations and the Judicial Council, Iraq and those involved in smuggling out of Iraq. "

The source added that "the second file is the file of the seizure of state land by influential parties after 2003, where seized political parties and armed armed state-owned lands in addition to the property of minorities in Baghdad and the rest of the Iraqi provinces."

Prime Minister Haider al-Abadi, earlier this month, the Supreme Council for the fight against corruption to resolve the files in his possession and lifting the obstacles that prevent the resolution of many of the issues lagging to recover money and provide corrupt to justice, pointing to the importance of resolving the files of corruption.

http://www.skypressiq.net/2017/12/10/%D9%85%D9%82%D8%B1%D8%A8-%D9%85%D9%86%D9%87-%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%8A%D8%B1%D9%83%D8%B2-%D8%B9%D9%84%D9%89-%D9%85%D9%84%D9%81%D9%8A%D9%86-%D9%85%D9%87%D9%85%D9%8A%D9%86-%D9%81%D9%8A-%D8%AD%D8%B1%D8%A8%D9%87-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9

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Nightclubs, Cafes still Risky Business for Iraqi Women

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

The Iraqi parliament’s Committee on Women, Family and Childhood revealed Nov. 13 that there are organized criminals behind the work of some female minors in cafes and casinos. The committee said this phenomenon is no different from that of human trafficking.

The next day, an Iraqi radio station reported the story of a 17-year-old girl who works at a nightclub in Baghdad. “I have to work because I need money” to support herself and her mother, she said. “The owner of the club raped me more than once.” She also said she is subjected to beatings almost daily.

Another girl, however, told Al-Monitor on condition of anonymity that some cafes and nightclubs operate aboveboard and provide desperately needed employment opportunities for young women. “I managed to work at a relative’s [place] because I needed money and the casino owner agreed to temporarily hire me for humanitarian reasons.”

Regardless of the situation, in conservative societies such as Iraq’s, girls and women who work at casinos, nightclubs and even coffee shops are often frowned upon.

Also, as women rarely get involved in this field of work, when they do it often draws media interest. One example is a woman from Nasiriyah who decided Jan. 20 to open a family coffee shop, the first of its kind in the south. The opening was widely covered by local media. Yet while this woman showed courage to embark on a nontraditional career path, other women have faced obstacles. On April 27, the Wasit Governorate Council voted by a majority to ban girls from working in cafes.

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Delay looks likely for Iraqi Elections

By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

It’s beginning to look like Iraq won’t make it to the polls on time — again.

Though Prime Minister Haider al-Abadi just announced Dec. 5 that parliamentary and local elections will be held even earlier than scheduled — on May 12 instead of May 15, to avoid a conflict with Ramadan — several events may be coalescing to delay voting.

The legislature is still struggling with disputes over an election bill that must be approved by Dec. 15 if parliament members want to see its contents put into effect in time. At the same time, lawmakers are also busy hashing out a budget bill. The current session is already in overtime; it was supposed to have ended Nov. 30.

The Independent High Electoral Commission says it needs six months to prepare for elections based on any new laws. Otherwise, the current law will remain in effect. The law as it pertains to legislative elections isn’t the main problem, since parliament agreed to abide by the Sainte-Lague method of parliamentary seat allocation. But there are disagreements over local elections (provincial councils), especially regarding the disputed Kirkuk province. Differences raised among the province’s Arab, Turkmen and Kurdish components would be difficult to settle in such a short time.

Rahim al-Daraji, a member of parliament’s Legal Committee and a member of the parliamentary Shiite National Alliance bloc, told Al-Monitor, “The dispute over the elections in Kirkuk is the main obstacle. The province hasn’t witnessed elections since 2005, and several proposals have yet to be settled in the absence of a population census. These proposals include holding elections in the province based on the equation that Kurds, Turkmen and Arabs [each] have 32% of the seats, while the remaining 4% of the seats are allocated to Christians for one round.”

Daraji said the only option he sees now is to extend the legislative term until a new electoral law is approved, and to postpone the elections for weeks or even months.

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Promises to end differences over the 2018 budget within three weeks before its return to the government

Promises to end differences over the 2018 budget within three weeks before its return to the government and warnings of a repeat of the 2014 scenario 2017/12/08 15:29 Baghdad today – follow-up Al-Hayat newspaper published a report on the subject of the Iraqi public budget for 2018, while the parliamentary Finance Committee confirmed to the […]