… sales, a -100.00% volume decline from the US $162,772,407 sold by Iraqi Dinar, credit and transfer at the previous auction held on September 18.
Barzani reveals his only condition to postpone the referendum! Tuesday, September 19, 2017 at 13:33 pm Baghdad / Sky Press “The president of the Kurdistan region of Iraq,” Massoud Barzani, “the only condition for the issuance of a final decision on the referendum to be held at the end of September, saying that the alternatives […]
Oil Minister: Iraq needs a price of 55-60 dollars a barrel 2017/9/19 17:43 (Baghdad: Al-Furat News) Oil Minister, Jabar Ali al-Allaibi, stressed that Iraq needs oil prices between 55 and 60 dollars a barrel in order to reach a better financial situation. “Iraq aims to develop the oil industry through the national effort and with […]
Masoum, Maliki and Allawi insist on political consensus to end the referendum crisis 2017/9/19 17:13 [Ayna-Baghdad] President Fuad Masum and his deputies Nuri al-Maliki and Iyad Allawi, stressed the political consensus to end the tension between the center and the Kurdistan region because of the referendum on the separation of the latter from Iraq. A […]
The Secretary-General of the United Nations, Stephane Dujarric, stressed that the Secretary-General does not support the holding of the referendum in Kurdistan at this time and before the elimination of "fully" appealed and the return of about two million displaced to their areas.
The Secretary-General believes that this timing is frustrating to announce the holding of the referendum; Iraq is going through a difficult and critical stage, calling both Baghdad and Erbil to engage in constructive dialogue and effective at this time to resolve the outstanding issues between them.
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The House of Representatives holds its regular session on Tuesday to vote on a number of bills.
The agenda of the session includes "the vote on the proposed law to amend the law of the High Commission for the Independent High Electoral Commission No. 11 of 2007, and presented the report of the work of the Committee of Experts to select the members of the Electoral Commission for elections, and vote on the proposed law of the second amendment to the law of the Independent High Electoral Commission No. 11 of 2007" .
It also includes voting on the candidates of the investigative committee for the kidnapped, completing the vote on the draft amendment of the Third Law of Governorates not organized in the region No. 21 of 2008, and vote in principle on the proposed law to amend the law of elections of the Council of Representatives No. 45 of 2013.
It also includes voting in principle to a proposed law amending the Personal Status Law No. 188 of 1959, and vote on the draft ratification by mutual encouragement and protection of investments agreement between the Government of the Republic of Iraq and the Government of the Islamic Iranian law of the Republic, and the vote on the draft law amending the Association of Accountants and Auditors Act. "
And included in the The agenda is to vote on the wording of a decision on the subject of the third round and to improve the rate, and to vote on the form of a decision regarding the cancellation of the decision of the Ministry of Higher Education and Scientific Research, At their residence.
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Iraq is almost unique in order to be very important and calculated accounts in many of the most important economies of the world, which is the presence of 50 percent of the people aged between 19 and 19 years and this is calculated for the development doors, which must be accompanied by ambitious plans for short, medium and long
This young society has the human resource, which is the cornerstone for the launch of economic advancement in addition to the natural resources scattered across most of Iraq, which gives him the opportunity to be the eighth economic tiger in the world. We have an economy with these important characteristics, but the reality of the situation indicates a decline in growth due to lack of performance in all sectors of production and service.
Here is the need to stand at this point and we look at how we work to start towards the activation of economic activity, which needs to experience improved performance and work to achieve real renaissance really,
because we can not remain idle and the world around us achieve benefits after benefits may reach us to The inability to deal with our problems, especially as the labor force is supported annually by "one million" in return, there are no outlets to prevent them.
It is not harmful to take advantage of the global experience and employ it to serve the Iraqi economy after the nationalization of it, and there are experiences from countries in the world can work to benefit from them to be a good aid to our economy, which suffers a decline in all its
It is time to move a moment and move towards development, and it is not bad to use the centers of economic development or effective planning centers internationally to be a good aid to us and complement our national expertise to work on building an effective productive economy that achieves a multiplicity of resources and supports the federal budget and achieve the surplus in abundance and abundance of wealth. It is not difficult if accompanied by
strong will .
We must start a new stage that can be called an economic revolution that stems from the national feeling to be a catalyst for hard work away from narrow personal benefits in the public and private sectors and to be serious about changing the shape of the national economy towards a
better stage .
Financial analyst Tawfiq al-Ani stressed that the reality requires the actual work to provide funding that drives the financial sector and projects and achieve development, which requires in turn to overcome the lack of confidence of the citizen banking system, stressing that it is not new, and the problems experienced by the banking sector was not the main reason, Negative effects on this sector, especially that the Iraqi citizen does not have the willingness to put his money in banks.
He pointed out that this was because of the situation of the country confusing since decades, where continued wars to create a state of anxiety of the citizen made him lose confidence with the banking sector, and the banking problems and the bankruptcy of some banks to enhance the state of distrust. Interest rates.
He added that the restoration of confidence needs to pass through several stages through the adoption of new mechanisms through the activation of electronic payment on a large scale in daily life, pointing to the need to raise rates of interest and work on the development of marketing systems in the domestic financial sector, and citizens must feel that his money safely After arriving at a convincing case that the bank is a real guarantor of its funds.
As for the financial analyst Abdul Hussain al-Hakim said: There is a collective duty and another individual to build confidence between the citizen and the financial sector, explaining that the first is the central bank and banks, either individual needs to the mechanisms of education on a large scale, indicating that the compactness, which amounts to 77 percent of the size
"The local cash represents a loss for the Iraqi economy, where banks can attract 8 times the capital and employment in the service of the economy, as happens in the successful economies and here benefits the banks and citizens.
Hakim pointed to the importance of the existence of communication between the financial sector and the citizen of the money, e NAC role of the Deposit Guarantee Corporation to build confidence between the parties, pointing out that banking transactions are now between banks and citizens need to expand its circle and here is the need to strengthen confidence.
He pointed out that the non-invested cash mass is estimated at 77%, which can lead to growth in the same proportion in the national economy and contribute to the activation of credit and letters of guarantee, thus extending the credit "loans", indicating that the credit activity is now restricted.
He pointed out that trust between the bank and the beneficiary raises the bank’s financial solvency and this reflects a positive reality for the bank in front of international banks and entities.
He stressed that the money that comes from abroad for investment purposes is also looking for guarantees, indicating that in all cases guarantees are working to attract funds to the investment sectors through banks and large numbers.
He pointed out that attracting money to Iraq can be described as weak, despite the existence of international institutions that come with large investments in amounts that make a qualitative leap from these institutions Islamic Development Bank, but it comes on terms of the most important financial adequacy of local banks and the ability to attract deposits at specific rates.Workload
He stressed that the progress of banking and raising the interaction with the citizen and the conversion of the mass of cash from homes to the financial sector contributes to attract large investments in excess of one billion dollars to the investment entity and these figures in any case pass through the banking sector and the role of increasing the volume of work linked to the financial space.
Is a key pillar in achieving the personal and national benefit through the return it gets and contribute to building the national economy through the implementation of development projects that the economy and come back to the front depending on the money Almknzp.
He said that the transfer of cash mass can be employed in the service of the national economy and enhance the spirit of citizenship more as it provides job opportunities and the emergence of residential complexes and the movement of all economic sectors and these are the most important benefits of the transfer of the bloc Almtzzaza to thebanking sector. http://www.alsabaah.iq/ArticleShow.aspx?ID=144498
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 Tureibil crossing, or more commonly known as the Karameh border crossing, between Jordan and Iraq reopened in early September in tandem with the opening of another border crossing with Saudi Arabia. This means that more foreign goods are likely to flow into the Iraqi market, which already lacks national products, especially food and agricultural goods.
The prospects for increased imports, which is not good news for the local production industry in Iraq, prompted parliament’s Agriculture, Water and Marshlands Committee on Aug. 14 to accuse the Ministry of Agriculture of mismanagement and confusion in supporting these foreign goods, which caused the local market to become flooded with imported products.
Mohammed Mansouri, an expert on local livestock, warns against “a catastrophe in the sector of livestock and agriculture in Iraq,” urging the government to work “on achieving food security.”
However, the failure of agricultural projects in Iraq is not only the result of poor planning and management, but also a “corrupt agenda seeking to keep this sector lagging so as to continue relying on imports,” said Ali al-Badiri, a member of the Agriculture, Water and Marshlands Committee, in a media statement Aug. 24. “Impeding the cultivation of wheat crops is a conspiracy, as this cultivation has become a threat to the investments of the corrupted,” he said.
In the same vein, Suhaila Abbas, the head of the Agriculture Committee of the Babil Governorate Council, told Al-Monitor, “Linking food security to importation is not due to technical problems such as drought or the rudimentary irrigation and land treatments techniques, as these can be addressed through development plans. This is, however, due to political reasons. Many of Iraq’s neighbors have an interest in keeping Iraq unable to become self-sufficient in terms of food, so it continues importing food products.”
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From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
Iraq’s Prime Minister says he is prepared to use military force if a planned referendum on Kurdish independence turns violent.
The Kurds in Iraq have come under increasing pressure from regional powers and the US to call off the vote, scheduled for September 25.
In a sign of escalating internal tensions, Haider al-Abadi said the leadership of the Kurdish Regional Authority was “playing with fire” by holding the poll.
He described the vote as “illegal and unconstitutional”.
Al Jazeera‘s Imran Khan reports from Erbil:
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