Category: Investment

Harthy: reducing the share of Kurdistan from the budget of 2018 will add 9 million dollars

Harthy: reducing the share of Kurdistan from the budget of 2018 will add 9 million dollars
11/19/2017

"The reduction of the share of northern Iraq from the federal budget 2018 will add to the budget next year, 9 million dollars to it," said Deputy Chairman of the Committee on Economy and Investment Representative Harith al-Harithi.Al-Harithi said in a press statement that the change in the financial share of Kurdistan within the federal budget will lead to many changes in the next budget, adding that the $ 9 million achieved by the Ministry of Oil during the past 10 months, will be added to the next budget.

Al-Harithi added that revenues generated from airports, border crossings and customs will change the figures and figures in the budget, which will lead to a new formulation.It is noteworthy that the adviser to the Prime Minister for Economic Affairs, the appearance of Saleh said earlier that what the media are talking about reducing the share of Kurdistan in the draft budget of 2018 from 17% to 12% only drafts have not yet adopted by the government and that talk about them "just speculation.

" Saleh stipulated the delivery of Kurdistan revenues to the treasury of the state in return for receiving his share of the draft federal budget law of Iraq 2018.

http://aletejahtv.org/permalink/192189.html

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The final victory over the “Iraq” reinforces Iraq’s international standing

The final victory over the "Iraq" reinforces Iraq’s international standing

11/19/2017

BAGHDAD / Muhannad Abdul Wahab – Shaima Rashid
After the great historic victory achieved by our armed forces on Friday, the liberation of the district of Rawa, the last cave of the group "Da’ish" terrorist, and the declaration of Iraq completely military editor of the "da’ash" terrorist; MPs said that the strategic importance of these victories lies in Iraq has received great respect and prestige in the international community and the Iraqi neighborhood as a country that has been able to defeat

"calling" and therefore there will be a great openness to Iraq internationally, which will provide great opportunities for investment in the country by society The international, at a time called for the deputies to consider the day of expulsion "calling" and the liberation of the entire Iraqi soil an official holiday and a national holiday to be celebrated every year.

"The strategic dimensions of the final victory over the terrorist advocate and the liberation of Iraqi territory lies in the fact that the Iraqis proved that they are a military force capable of protecting the borders of the country and its independence through its expertise and its outstanding performance," said MP Abbas al-Bayati. "He said.

Al-Bayati told al-Sabah that "victory over terrorism has achieved national unity through a leadership that has managed to bring together all the components of the Iraqi people and strengthen its national unity through which Iraq was able to confront the most powerful groups of terrorism."

He also called for " Which should be based on the realization of this unity, which has become the cornerstone of internal and external political movements in the future. "

And that "the victories achieved other important goals, including strengthening the role of Iraq, regional and international as Iraq has received great respect and high standing in the international community and the Iraqi neighborhood to be considered a country was able to defeat a supporter and therefore there will be great openness on Iraq internationally, which will provide great opportunities for investment in Iraq from Before the international community. "

Al-Bayati pointed out to the importance of political calm and political discourse, which must be relied upon by political forces through the victory, which was an important reason for the transformation of Iraqi political thought for all components, as all components ensured that the political differences were the main gap to enter the call to Iraq,

The existence of red lines and must maintain the minimum political consensus, "He pointed out that" the important dimension of the victories is to achieve a quantum leap in the Iraqi economy through investment through the flow of countries to invest in Iraq as a large country, and will contribute to reconstruction and construction and therefore Iraq will be attractive The interest of regional and international.

" The end of the myth of his part, Park MP from the coalition of Iraqi forces Abdul Kahar Samurai "complete the liberation of another spend was controlled by terrorism and freeing all Iraqi territory and return to the bosom of the nation from the grip of Daesh terrorist."

"The victories that have been achieved for the Iraqis ended the myth of an alleged state, and thanks to these victories unite all Iraqis as one front against terrorism," he said in an exclusive statement to al-Sabah. "The military page is close to the end and will show the important page in the fight against corruption, .

The MP said that "the province of Anbar has recovered from the victories, and therefore we see that the flash of good launched from Anbar by the army’s victories on terrorism, and prepare for the preservation of the reconstruction and infrastructure,"

noting that "the next stage is very important for the Iraqi state and the Prime Minister to take the momentum of victories And achieve the momentum of new victories and return the displaced and displaced persons to their regions and start the battle to eliminate corruption and harvest his head and we will be with him strongly.

He added that "Iraq through an important stage of the presence of direct occupation of its territory and we have to fortify our borders and we hope the countries surrounding Iraq to help us to protect our borders in accordance with security and intelligence agreements to prevent the entry of terrorists," and pointed to "the importance of the next stage that the government should go to build the economy And
the elimination of corruption and the opening of investments in order to strengthen the Iraqi economy

and the return of Iraq to the economically important countries in the region. Fighting the corruption For his part, said MP from the Kurdistan Alliance Majid Shankali that the strategic importance of the victories on the "Daash" lies in the direction of Iraq to build and reconstruction and fight corrupt.

He pointed out in a special statement to Al Sabah, "the importance of victories and the completion of the preacher, that Iraq go to spend what it was spending from financial allocations to develop the Iraqi economy and build the affected and liberated areas and build a new Iraq based on citizenship," and pointed to " All the previous files of corruption because it was one of the main reasons for the entry of a preacher to Iraq and the recovery of all the money smuggled to the Iraqi treasury again.

" National Day In turn, the deputy of the Badr parliamentary bloc, Razak Muhaibis, to make the day to expel the organization "Da’ash" from Iraq an official holiday is celebrated every year. Muhibis said in an interview: "The terrorist group Zadmr practiced the most heinous crimes and destruction, which we consider a difficult and harsh phase of the life of Iraq, so the day of complete liberation and the expulsion of these terrorist groups from our territory and eliminate it is a joy for all Iraqis."

He added that "the day of expelling Dahesh is a historical occasion worthy of being included in the events and official holidays that are celebrated every year," noting that "the draft law of public holidays is currently being discussed in the House of Representatives and within the parliamentary culture committee," Mohebs,

"The need to put the parliamentary culture committee the idea of ​​adding an evasive expulsion day from our lands within the draft law as an annual occasion to be voted within the draft law of public holidays."

A strong Iraq For his part, said political analyst Najm al-Qasab that the victory achieved on the organization of the preacher and the latest in Rawa is not attributed to a person or party or sect, but is a victory for all Iraqis and the concerted efforts of politicians and the Iraqi government headed by General Commander of the Armed Forces Haider Abadi.

Al-Qassab told Al-Sabah: "The military operations proved to the world that Iraq today is very different from what it was before, and this must be taught in universities and military colleges that Iraq was able to fight this organization."

He added, "Iraq should invest its victories and look at the reasons of entry "Iraq today is living a new phase and the government has many challenges, including trying to strengthen trust between citizens, the political class, local governments and the central government," he said.

Securing the border to this, he said security expert Fadel Abu loaf, that "these victories must that inflict many measures , including preventing the entry of terrorists and securing the rest of the west of the Euphrates areas and secure border crossings and secure wet and cut off supply reverse lines and others."

Abu Ragheef told al-Sabah: "There must be a return to life, economy, construction and the restoration of life to its predecessors in the liberated cities. These victories should be invested on a political level by reassuring all the countries of the world, especially the neighboring countries, that Iraq is safe.

At the internal level that there are no fears of the return of this organization again, "praising the role played by the people of Anbar in the achievement of these victories, which had a great footprint.

http://www.alsabaah.iq/ArticleShow.aspx?ID=147721

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Iraq Stock Market ends week 6.3% Up

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th Nov 2017).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD815 (+6.3%) / $838 (+6.6%) (weekly change) (-15.1% and -11.6% YTD change, respectively). The number of week traded shares was 15.0bn and the weekly trading volume was IQD10.8bn ($8.5mn).

ISX Company Announcements

  • According to the letter published in The Central Bank of Iraq (CBI) website on Wednesday, a consultative meeting was held on Nov. 13, 2017 under the chairmanship of the Governor of the CBI and faculty of the CBI with heads of boards of directors and executive directors of Iraqi banks to discuss the letter of the CBI dated Nov. 7, 2017 related with the suspension of activities of branches of banks operating in the KRG. In the letter it was mentioned that The Iraq Private Banks League welcomes the directives of the CBI regarding the branches of banks in the region and appreciate what was presented at the meeting to ensure the stability of the banking sector and not subject to risk through the CBI’s guidance for upholding the needs and interests of the citizens in the region in all branches of activities in line with the decision of the Council of Representatives. On Tuesday, CBI sources told Reuters that the CBI has eased restrictions on private banks in its Kurdistan region. In addition, according to the observations of Rabee Securities, the Iraqi banks are continuing to operate in a normal way in Kurdistan region.  (CBI, Reuters, Gulf-Times)
  • The Central Bank of Iraq (CBI) decided on Thursday to increase the fines for counterfeit banknotes from 500% to 700% and fines for the shortage discovered in the banknotes from 100% to 250% with the compensation of the shortfall. (Alsumaria)
  • Cihan Bank for Islamic Investment & Finance (BCIH) will hold AGM* on Nov. 20, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of BCIH starting Nov. 15, 2017.
  • New shares of Mamoura Realestate Investment (SMRI) from the capital increase to IQD22.78bn through 15% rights and 3.6% bonus issues resumed trading on Nov. 14, 2017.
  • Babylon Hotel (HBAY) will hold AGM* on Nov. 19, 2017 to discuss and approve 2016 annual financial results and distribution of 44.5% cash dividend (IQD0.445 dividend per share, 1.3% dividend yield). ISX suspended trading of HBAY on Nov. 14, 2017.
  • Cross Transactions: 7.6bn shares of Al-Harir for Money Transfer (MTAH) on Nov. 15, 2017, which represents 17.0% of MTAH capital. 313mn shares of Asiacell (TASC) on Nov. 12, 2017, which represents 0.1% of TASC capital.

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Oil Minister: Iraq has promising investment opportunities in several areas

Oil Minister: Iraq has promising investment opportunities in several areas 2017-11-17 at 17:17 (Baghdad time) Mawazine News – Follow up Oil Minister Jabbarali Luaibi said on Friday that Iraq has promising opportunities to invest in the oil and gas sector and that the government and the ministry are keen to provide the suitable environment for […]

Refer to the presidential palaces surrounding Baghdad International Airport to invest

Refer to the presidential palaces surrounding Baghdad International Airport to invest Thursday 16 November 2017 at 16:52 pm Baghdad / Sky Press The State Real Estate Service announced on Thursday that the presidential palaces surrounding the Baghdad International Airport will be referred to the investment, indicating that this would contribute to the budget of the […]

Dinar bond in JP Morgan index in 2018 – Risk premium of Serbia at all-time minimum

A ten-year dinar-denominated bond of the Republic of Serbia will be included among the securities of the American investment bank JP Morgan in …

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The House of Representatives votes to encourage investment with Iran and amend the law of the Central Bank

The House of Representatives votes to encourage investment with Iran and amend the law of the Central Bank
11/15/2017

BAGHDAD / AL-
SABAH The House of Representatives voted yesterday on two laws, ending five draft laws and proposals. At the start of the 30th regular session, which was held under the chairmanship of First Deputy Speaker of the House of Representatives Sheikh Hammam Hamoudi and 170 deputies on Tuesday, the chairman expressed condolences and condolences to the families of victims of the earthquake and called for giving full attention to the affected areas.

Then the Al-Fatihah Council recited a recitation of the souls of the victims of the earthquake and the spirit of my two deputies.

Sheikh Hamoudi, on behalf of the Iraqi People’s Assembly, praised his outstanding performance in hosting visitors in the fourteenth of Imam Hussein. The visit turned to the world’s attention.

He thanked the security services, the competent ministries and the concerned governorates for their role in securing and success of the 40th visit. Working to accommodate visitors The success of this event represents a popular success.

The Council voted on the draft law on the ratification of the Mutual Encouragement and Protection of Investments between the Government of the Republic of Iraq and the Government of the Islamic Republic of Iran, submitted by the Committees of Foreign Relations, Economy and Investment for the purpose of benefiting from the economic resources and facilities available in the investment fields of the Contracting Parties and to create the appropriate conditions for the investments of their nationals in the territory of the other party. Of the Convention.

The Presidency decided to postpone the vote on the draft law amending the law of the Association of Accountants and Auditors, submitted by the committees of civil society, financial and legal to the meeting on Saturday.

The Council completed the vote on the Second Amendment Bill to the Central Bank of Iraq Law No. 56 of 2004 on the Coalition Provisional Authority (CPA) submitted by the Financial, Economy and Investment Committees for the purpose of increasing the capital of the Central Bank of Iraq and keeping pace with the global economic development.

The Board of Directors of the Bank from outside the Bank and the formation of the Audit Committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and to keep his money from the bookings issued by judicial decisions.

The Presidency postponed voting in principle on the draft law on the lease of agricultural land, submitted by the committees of agriculture, water, Marshlands, finance, economy and investment.

The Chamber of Deputies also ended the first reading of the draft law on the ratification of the United Nations Convention on Transparency in State-to-State Arbitration of Investors and States submitted by the Committee on Foreign Relations in order to apply the rules of transparency in the equitable settlement of disputes in treaty-based investor-state arbitration and the promotion of good governance and ratification of the Convention.

The Council completed the first reading of the proposed amendment to Law No. 13 of 2011, submitted by the Legal Committee in order to allow a larger segment to contribute to the provision of services to citizens within their areas of work and to further strengthen the role of the electors as the link between the citizen and the local government.

The session witnessed the first reading of the draft law of the Sixth Amendment to the Implementation Law No. (45) of 1980 submitted by the Legal Committee for the purpose of guaranteeing the rights of the State through the non-implementation of the decisions against them only after acquiring the absolute degree and guaranteeing the right of the wife to obtain her legitimate right without injustice and stability of transactions In determining who is responsible for paying the fees.

The Council also completed the first reading of the proposed law of the National Commission for the Protection of Peaceful Coexistence submitted by the Endowment, Religious and Legal Affairs Committees for a cohesive, tolerant and tolerant society capable of confronting terrorism, violence, sectarianism and hatred and to absorb the efforts exerted in the field of peaceful coexistence by the Iraqi Council of Representatives.

The Council concluded the reading of a report and discussion of the proposed Bill of Babylon, the cultural capital of Iraq, submitted by the committees of culture, information, law, tourism and archeology.

In the interventions of Representatives MP Riad Gharib said that the promotion of the tourism sector contributes to the development of the Iraqi economy and the diversification of its resources, calling for the global spotlight on the civilization of Babylon.

MP Abbas al-Bayati pointed out that Iraq is the cradle of civilizations and it is important to make the law an outlet for marketing the effects of Iraq spread in many areas of it, noting the importance of paying attention to the effects through embassies abroad with the establishment of a series of festivals and annual activities in this
regard.

MP Mutashar al-Samarrai said that the development of a clear strategy to invest Iraqi antiquities will contribute to support Iraq’s financial budget.

In response to the interventions, the relevant committees stressed the work hard to implement the proposals of deputies after the vote on the proposed law.

http://www.alsabaah.iq/ArticleShow.aspx?ID=147515

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(IBAN) in banking transactions

(IBAN) in banking transactions

11/15/2017

Mohammed Sharif Abu Maysam
In a move to give optimism to the advancement of the banking industry in the country Rafidain Bank circulated lists containing a digitally organized accounts of its branches accredited internationally (IBAN) to all banks, government and private
IBAN is a shortcut to the International Bank Account Number ), A unique and unified formula internationally agreed to the bank account number in order to carry out transactions for banking transactions and facilitate electronic transfers between branches of banks in the world,

in the sense that it is a digital organization of the accounts of branches and customers in the global banking sector is not a new bank account number, Is the same as the special bank account number for any branch or citizen with numbers and letters from the left side.

IBAN is a mandatory requirement to send and receive money domestically and internationally safely, accurately and quickly in accordance with international banking regulations, and makes cheating almost impossible, but the use of IBAN in local remittances may be non-mandatory.

When an IBAN is applied in a country, all transfers of funds received and exported between this country and the other registered countries must be accepted and processed.

All banks and financial institutions should apply this, but they do not have to be dealt with domestically, Development in trading and financial transactions.

This is a promising step that will encourage us to be optimistic and ask. At the same time, it is the starting point for engaging in the digital banking industry, which will oblige other government and private banks to take rapid steps.

This will establish a banking industry that will upgrade the global banking industry. Unless this system enters the entire Iraqi banking sector.

And work is a positive indicator and catalyst for the potential flow of investment funds within the country, as well as its role in the removal of classical methods in the performance of banking because the work requires a digital infrastructure and the support of an employee and an integrated system of the system of electronic payments.

And here is the question about the time taken by the processes of preparation for the introduction of electronic systems, and the seriousness of some government and private banks in the introduction of these systems, which remained stalled until now? Will we see in the coming days a serious and mandatory work to introduce all technologies into force?

http://www.alsabaah.iq/ArticleShow.aspx?ID=147502

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