Governor of the Central Bank of Iraq participates in the meeting of the Board of Governors of central banks

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail participated in the meeting of the forty-second session of the Board of Governors of Arab Central Banks and Arab Monetary Institutions in the Jordanian capital Amman and under the patronage of the Prime Minister of the Hashemite Kingdom of Jordan Dr. Omar Al-Razaz.

The meeting was chaired by Mr. Mohammed Mansour Zemam, Governor of the Central Bank of Yemen and Chairman of the current session of the Board in the presence of the Governors of the Central Banks and the Arab Monetary Institutions, as well as observers from the League of Arab States, the General Secretariat of the Cooperation Council for the Arab States of the Gulf, the Union of Arab Banks, Middle East and North Africa, as well as the presence of Arab executives at the IMF and the World Bank and the Director General of the Bank for International Settlements.

The participants discussed the regional and international monetary, financial and economic developments and their repercussions on the Arab countries, as well as discussing the promotion of credit for small and medium enterprises, financial inclusion files and support for the Arab banking sector.

Dawa Party intends to separate Haider Abadi from his ranks

A political source revealed the intention of the "Islamic Dawa Party" led by Nuri al-Maliki, separated the head of the political body, the current Prime Minister Haider Abadi of his ranks with two other leaders.

The website of the Arab 21 Qatari source, said that "the Dawa Party is determined to separate leader Haidar Abadi, in addition to other leaders Ali Alalak and Walid al-Hali from the ranks of the party."

These developments come after a statement issued by three of the leaders of the Dawa Party carried Abadi the greatest responsibility in refusing to dangle with the wing of Nuri al-Maliki, after an agreement to merge the two lists sponsored by the Dawa Party after the parliamentary elections.

The statement issued by the three leaders that this caused the consensus of the policy of the "conquest" of Hadi al-Ameri and "Sorrow" supported by Muqtada al-Sadr, the remains of the brothers of the call and jihad, "victory" (led by Haider Abadi) and "law" (led by Nuri al-Maliki).

Finance: The budget of 2019 approved the amount (55 – 60) dollars per barrel of oil


Ministry of Finance revealed that the federal budget for the next year 2019 approved the amount of (55 – 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source of the Kurdistan region, stressing the continuation of the payment of debt and the benefits of Iraq.

Undersecretary of the Ministry Dr. Maher Hammad Jouhan said a special statement for the "morning": The federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general situation of the country changed from the position it was for the past years and there is a great need to change or The various forms of financing,

both the general budget and other budgets, or the financing formulas, are supported by borrowing, entering into partnerships or finding outlets for the private sector.

He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 – 60) dollars, giving the state a broader scope to strengthen services and social expenses such as salaries and expenses of education, health and medicine and expenses The ration card,

subsidies and social protection networks do not have a deficit either by allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector in order to occupy its real space by providing job opportunities and infrastructure suitable for services or enhancing productive activities.

He pointed out that the federal budget adopted the amount of Iraqi oil exported daily between (3.8 – 4) million barrels, including the quantities exported from the Kurdistan region, and expressed the hope that the volume of this export, because Iraq currently exports only 3.8 million barrels and sometimes Less because of the different circumstances, especially the status of Kirkuk, which did not issue the prescribed amount.

He said that despite this, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives, explaining that the difference in prices helped to bridge the deficit, To external or internal borrowing, has returned to positive.

And on the debts of Iraq and whether there is a clause in the federal budget indicates that, the Undersecretary of the Ministry of Finance, there is an item of debt in the budget of 2018 and 2019, and there are debts of various denominations for the budget, both internal and external,

revealing that Iraq is currently paid within the table, 12 trillion dinars between The debts of the farmers have been paid for 2014, 2015, 2016 and 2017, denying the existence of any debt to farmers and contractors, and remained only 30 percent,

the ministry seeks to pay them by the beginning of next year , And It placed the text of the budget ensures the provision of appropriate allocation of funding.

Timings and budget constraints


Mohammed Abdul Zahra al – Hindawi
general state budget represents one of the most important annual laws, this importance comes as drawing on operational and investment spending tracks in the country, as well as identifying the sources of income and the mechanisms available through different sources and the amount of deficit schematic or realistic.

And thus represent the state’s financial plan for next year, which includes the planned expenditures of ministries and provinces and various institutions in terms of securing salaries of employees, which reach about 40 trillion dinars annually, as well as the provision of allocations for investment projects carried out throughout the country.

These tracks are determined according to the forecast of revenues expected to be achieved through oil sales, which represent the largest share of budget funding, or through taxes and fees on services and revenues of border ports and contributions of
other sectors .

As a result of this importance, the budget enters into multiple tunnels and does not come out of them until after the painstaking efforts of all parties concerned starting from the ministries and governorates and independent bodies, which submit their annual programs, through the Ministries of Planning and Finance, up to the Council of Ministers, to the House of Representatives,

She returns again to enter into the same spending that she entered on the first trip because of the objections and observations of members of the House of Representatives, and then turn to resume the trip again.

Then passed by it must go to the Presidency of the Republic for approval and then to the fact sheet for publication, and then the Ministries of Planning and Finance to issue the implementation instructions, the government may challenge some items that the House of Representatives to change or

Such a strenuous journey will take a period of time that in some years will cross the first third of the year or more. So as not to stand confused at the time unable to address the problems that may arise in the course of implementation.

And here we want to talk about the budget of 2018, which approved the price of a guess $ 46 per barrel, and a deficit reached about 13 trillion dinars, has been described as austerity budget because many aspects of spending was not allocated the amounts required due to lack of financial resources ..

After days began oil prices improve slowly Slowly, the Ministry of Finance began to speak of a financial abundance that helped fill the fiscal deficit in the

But the problem faced by the government, especially after the events in the province of Basra and other provinces, is how to provide financial allocations for doors not covered under the
budget law .

At a time when there was a huge financial abundance, the Ministry of Finance could not transfer funds between the doors because the law prevents this, nor could talk about the preparation of a supplementary budget in the absence of the House of Representatives.

Therefore, some articles of the budget law have become a constraint on the government in providing appropriate financial allocations to provide services despite the availability of
financial liquidity .

And here and because we are still in the early stages of preparing the budget for the next year 2019, and with optimistic expectations of the arrival of oil prices to about $ 80, there should be a clear vision of this budget and reconsider all its doors away from the political effects that were subject to the budget for the year 2018

due to synchronization Prepared with the end of the legislative session and therefore some of the visions that governed the preparation were political visions trying to establish for the
next stage .

We believe that the circumstances of Iraq now require the preparation of a budget capable of meeting the requirements of development properly, and the need to address all the problems that turned into constraints that tied the government’s hand in spending on vital and
strategic projects .

The central bank announces its sales rise to 191 million dollars

The central bank’s foreign currency sales rose Tuesday to $ 191.56 million from $ 106.19 million in Monday’s auction of $ 85.37 million.

The exchange rate was 1190 dinars per dollar in the auction held with the participation of 35 banks and one company only for financial transfer, "the bank said in a statement.

The statement added that ‘these sales are the results of the auction on Wednesday,’ explaining that ‘total sales totaled $ 225.96 million’.

He added that ‘the volume of funds sold to strengthen banks’ assets abroad amounted to 190.06 million dollars, while the total amount of cash sold at $ 1.5 million’.

He explained that ‘the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price’.

Central Bank: Most private banks did not reach the level of ambition

The governor of the Central Bank Agency on the relations, on Tuesday, the number of private banks in the country of 70 banks, stressing that most of these banks did not reach the level of ambition.

"The number of private banks, transfer and exchange companies exceeds the need of the market, as we did not grant any new license to open a commercial bank or a license for a banking company.

We also canceled the financial transfer companies, in the presence of an intention to restructure the banking companies," Alaq said in a statement. Leads to greater control over them and there is a plan to merge some banks. "

He added that "licenses have been granted for the opening of a number of Islamic banks based on the facilities provided by its law, as the House of Representatives put a paragraph to help establish it, reducing the capital required at the establishment."

"There are currently 70 banks operating in the country, 20 of which are branches of foreign banks, but most of them are newly formed, so it did not reach the level of ambition, and these banks worked under exceptional circumstances passed by the country.

"As you know, the main task of the banks is to provide credit through the granting of loans and other services, in return, take the funds of depositors and give them a percentage of interest, but Iraqi banks in general have a great difficulty in doing this Activity.

When a loan is granted, the borrower often does not meet its repayment despite the high collateral given by the banks and the high interest rate, as borrowers may be up to 20 percent. "

He pointed out that "the problem is that the bank when it starts its actions against the borrower, such as the seizure of the property, for example, faces a significant delay in legal proceedings by other parties, in addition to threats of tribal or partisan, and this makes banks afraid to grant loans.…-%D9%84%D9%85/

Hadi al-Amiri announced the withdrawal of his candidacy for the presidency of the Iraqi government

Announced the leader of the coalition "construction" Hadi al-Ameri, on Tuesday, withdrew his candidacy for the Iraqi prime minister, stressing the need to be nominated for this position by consensus of all blocks.

Ameri said in a press conference followed by the channel "Alsumaria" Iraqi, "announced the withdrawal of my candidacy for prime minister," adding that "the candidate for prime minister should enjoy the consensus of political blocs, and if supported by all the forces will certainly share his share."

"As we worked together day and night to fight against the scourge and rid the Iraqis of this scourge, we must work together to succeed in providing services and building Iraq," he said.

Al-Amiri, known as Abu Hassan al-Amiri, was the former Iraqi Minister of Transport and Communications and a member of the current House of Representatives. He currently leads the Badr Organization and the Popular Popular Militia.

Parliament forms its parliamentary committees and moves towards passing laws that are inoperative

Most notably oil and gas and the Federal Court and Intelligence
Baghdad / Sabah / Muhannad Abdul Wahab
The House of Representatives is currently moving towards the distribution of parliamentary committees among its members, under the emphasis on the need to adopt competence and competence, away from the political quotas that were adopted during the previous sessions.

This trend, according to parliamentarians, would accelerate the issue of passing the laws of the stalled and closer to the views between the political blocs in order to upgrade the institutions of the state and society and the provision of services in all governorates.

The deputy Bader Zeidi, in a press statement: "There are discussions on the distribution of committees according to the criterion of competence and integrity and leave the distribution of committees behind the scenes," noting that "over the previous sessions were distributed committees according to political quotas and this session will leave this idea and be distributed in Public and not in secret. "

He added that "they will not allow the naming of any person to the presidency of any parliamentary committee unless it meets all the conditions that qualify him," pointing out that "the current session will begin to pass laws that have been stalled since
previous sessions ."

The head of parliament, Mohamed Halbousi, directed yesterday to form a joint parliamentary committee overseeing the distribution of members of the House of Representatives to the specialized committees.

Regarding the adoption of important legislation, MP Jawad Hamdan said in a statement to "Sabah" that "one of the most important laws that we are putting forward in the parliamentary sessions of the current session, which was not enacted for political reasons, the oil and gas law and the Federal Court and the Council of Union and Intelligence,

Some amendments to the laws in the framework of the plan that was developed recently, "revealing at the same time," the existence of a tendency to amend some paragraphs of the
Constitution. "

"There is a committee to negotiate work on the study of laws and then start discussions with the political blocs in order to mature special ideas to be ready for discussion within the House of Representatives and then vote on them."

MP Ahmed al-Kanani said that "the block of construction seeks to amend some important legislation, including Article 30 of the law on health and social security in addition to the laws that fight corruption."

He pointed out in a statement to "Sabah" that "the disruption of some laws was the mood of the heads of blocs, either in the current session will be the deputy greater role and freedom to vote on some important legislation, in light of past experiences of previous sessions."

Al-Kanani stressed the existence of insistence on overcoming all barriers in order to mature the important laws that are in the interest of the citizen, "pointing out at the same time that" the parliamentary committees began to form and will have a task, especially the
Legal Committee . "

For his part, MP Khalil Mawla said in a statement to" Morning ", that" we will not have any red lines on any law as long as it is in the interest of the people where there are legislation ready to vote from the last parliamentary session.

believes that" one of the most prominent laws that we are passing is related to investment, "pointing out that it "

The economic capital


Mustafa Mohamed Ibrahim
Basra is the third largest city in the Republic of Iraq and is the economic capital of Iraq and its first water outlet. Basra is located in the far south of Iraq and on the West Bank of Shatt al-Arab.

It has a population of 2,796,000 and an area of ​​19,070 km2.
Own it.

Iraq is the fourth largest oil reserves in the world, estimated at 115 billion barrels. Basra has a large oil wealth.

Statistics show that it owns 15 fields out of 77 fields, including 10 producing fields and is still waiting for development.

These fields also contain oil reserves More than 65 billion barrels, accounting for 59 percent of the total Iraqi oil reserves.

As the revenues of oil in the budget of 2018 about 74 trillion Iraqi dinars and non-oil 12 trillion Iraqi dinars and include (taxes and customs duties and capital revenues, which concludes that the oil revenues are the main ones in the budget, which in turn determines the expenses and salaries and jobs and the volume of investments, The largest on the economic capital of Basra.

Basra has the largest oil fields in Iraq, including the Majnoon field, one of Basra’s giant fields and contains a proven oil reserves ranging between 23-25 ​​billion barrels and produces about 100 thousand barrels per day and was developed with a capacity of 600 thousand b / d.

The field of Nahran Omar, which is still modest production of about 1000 b / j, although it is from the giant fields and can reach the production capacity after the development of 500 thousand b / d and the number of wells, which contains 15 wells and reserves are certainly 6 billion barrels.

The field of West Qurna is also from the giant fields and contains a proven reserve of 18 billion barrels and the number of wells 247 wells, while the Rumaila North is one of the giant fields and in the seventies of the last century and the number of wells 340 wells, the ninth largest world oil field.

The extraction of crude oil in Basra is characterized by low production cost, which is the lowest at the global level, because the oil and gas fields are located on land and in the depths very close to the surface of the earth and most of the economic feasibility because of the size of large reserves and large area.

And does not include complex geological formations, in addition to having border ports with Iran and Kuwait, as well as port revenues, estimated at 21 billion dinars per month.

The reason for the recent crisis in the economic capital (Basra) is not political but purely economic, despite the advantages of this economic capital, but it needs a restructuring of its economic structure, which contributes to the development of capacity to raise the economic level of the province
and the family.

Central Bank: The conversion of the dollar from Iraq to Iran has been suspended since 2012

The governor of the Central Bank Ali Alalak, on Monday, that the conversion of the dollar from Iraq to Iran has been suspended since 2012, while pointed out that the past months witnessed the transformation of Iraq to the normal follow-up after it was in the gray area.

"The conversion of the dollar from Iraq to Iran has been suspended since 2012, and the Iranians are aware of this," al-Alak said in an interview with Al-Sabah newspaper.

"Any dollar transfer will go through the US Federal Reserve, which will stop the transfer," he said.

He explained that "Iraq was classified in the financial organization responsible for the classification of countries within the framework of money laundering, within the gray area, and his way to enter the black area, to become a financially isolated area and the report of the assessment of Iraq contains 700 observations,"

noting that "After hard work removed All reservations and turned us Iraq from the gray area to the area of ​​continuous follow-up, and in the past months we have become a normal follow-up area, we are the case of any country in the world. "