Economy MPs" recognizes articles "deposit guarantee rate"
1/20/2019

Parliamentary Committee on Economy and Investment approved a number of articles of a draft law amending the Deposit Guarantee Corporation Law 2018.

Its chairman, Dr. Kheir Abu Saeleik, said during the committee’s meeting on Sunday that the committee approved the articles after taking into account the opinions of those concerned.

He noted the presence of Deputy Governor of the Central Bank Adel Circasses and the Mufti of the Kingdom of Saudi Arabia, Dr. Mohammed Al-Khalayleh, Director of the Deposit Guarantee Fund, Moataz Barbour, and a number of concerned, that the Committee will continue to hold more meetings to study the remaining materials with the concerned and approval.

In response to the questions of the Chairman of the Committee on the reasons for granting the government the urgency of the draft law, the Circassians said that the draft law is a necessity for the inclusion of Islamic banks under the umbrella of the Deposit Corporation.

The Circassians said that there is no bank in the kingdom is faltering, pointing out that the draft law addresses the idea of ​​troubled banks if they exist.

In turn, Khalayleh said that the Islamic banks participated in the draft law after the amendment of its articles to comply with the provisions of Islamic law.

He added that there is a chapter in the law of the Central Bank to deal with Islamic banks, noting that the participation of Islamic banks in the Deposit Guarantee Corporation came after the agreement on the establishment of a special fund separate from the commercial banks in the institution dealing with guarantee deposits in Islamic banks.

It is worth mentioning that the positive reasons for the project came to include the Islamic banks under the guarantee of deposits and in accordance with the provisions of the Islamic Shariah in order to protect all depositors in the banks in the Kingdom as well as granting the Deposit Guarantee Corporation

a role in contributing to dealing with the situation of troubled banks in line with the amendments to the law Banks and to enhance confidence in the banking system by paying the amount of security owed to the applicant without the requirement to file a claim.

http://assabeel.net/news/2019/01/20/…A7%D8%A6%D8%B9

Iraq allocates 7 billion dollars as receivables to foreign oil companies by the budget of 2019
1/12/2019

"The draft federal budget for Iraq for the current year 2019 allocated between 6 to 7 billion dollars, as annual financial dues paid to foreign oil companies operating in Iraq on the cost of development and operational projects," Ihsan said in a press statement on Friday.

The Iraqi parliament is studying these days the draft federal budget for Iraq, where the draft budget was built on the price of a barrel of Iraqi oil $ 54 per barrel, and the rate of exports from southern and northern Iraq, the rate of three million and 880 thousand barrels per day, mostly from the southern ports.

Foreign oil companies, notably Exxon Mobil, British Petroleum, Shell International, Lukoil, PetroChina, Malaysia’s Petronas, Japan’s Gapex, Gazprom and others, are investing in a number of large and medium oil fields in southern and central Iraq.

http://alghadeer.tv/news/detail/88561/

Ivanka Trump and Nicky Hayley are candidates for the presidency of the World Bank
12 January 2019

The names of former United States Ambassador to the United Nations Nicky Hailey, the daughter of US President Donald Trump and his adviser Ivanka, are on the list of candidates for the post of World Bank president to replace outgoing Kim Jong-kim, the Financial Times reported.

In addition to Ivanka and Haili, who resigned as Washington’s ambassador to the UN Security Council last month, other names are being traded, including US Assistant Secretary of State for International Affairs David Malpas and Mark Green, president of the US Agency for International Development.

And last Monday, Kim suddenly announced his resignation from the helm of the bank more than three years after the end of his second term.

"It was a great honor for me to serve for six years as president of this unique institution full of people who are dedicated to their work and dedicated to their mission of eradicating poverty," said Jim Young-Kim,

He said he planned to "join a company and wants to focus on infrastructure investments in developing countries."

World Bank Chief Executive Cristalina Georgieva is due to be interim president after Kim leaves and even elects a new president.

"The ministry has received a large number of nominations," a spokesman for the US Treasury Department said on Friday.

"We have begun an internal review process on a US candidate, we look forward to working with the governors to choose a new president," he said.

Under a non-written agreement, the United States, the largest shareholder in the fund, has always chosen a bank president since its establishment in the wake of the Second World War.

On Thursday, the World Bank Council said it would begin accepting nominations for the bank’s presidency early next month and would announce a successor to Kim by mid-April.

http://assabeel.net/news/2019/01/12/…88%D9%84%D9%8A

World Bank report: Iraq will be the highest Arab economic growth by 2019

January 11, 2019

World Bank report: Iraq will be the highest Arab economic growth by 2019 The Middle East and North Africa (MENA) countries are expected to witness a rise in economic growth to 1.9 percent in 2019, according to a World Bank report. The show report recently released titled Figures (Global Economic Prospects: The Middle East and North Africa “bleak skies”) that growth in the GCC will rise to 2.6 percent , supported by the movement of an active investment at the level of the oil – exporting countries, the bank expects that growth declines in Algeria To 2.3 percent due to slower government spending than in 2018. Egypt will see a growth rate of 5.6 percent in 2019, boosted by investments and reforms in the expected business climate. The growth rate in Morocco and Tunisia will reach 2.9 percent in 2019 if tourism indicators improve and political reforms continue.

Although Iraq recorded modest growth in 2018 at 1.9 percent, reconstruction projects, according to the report, will be an important driver for the growth of its economy and neighboring economies, with an expected 6.2 percent, the highest in the Arab world. Growth in Jordan is likely to see a slight improvement of 2.3 percent. 2018 The 2018 estimates showed an improvement in growth to 1.7 percent amid improved economic activity in oil exporting and importing countries. Algeria registered a growth rate of 2.5 percent last year, Egypt with 5.3 percent, Morocco with 3.2 percent and Tunisia with 2.6 percent.

The World Bank has warned of the dangers facing the region, which can discourage growth, as conflicts can escalate and lead to greater damage to income and economic activity, not to mention health and social well-being.

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Parliamentary economic reveal the most prominent amendments to the budget expected
1/8/2019



Baghdad: Sumer News
The parliamentary committee on investment and economy, on Tuesday, the most prominent amendments to the budget law, noting that the draft budget law will be presented to the parliament during today’s session.

Committee member Nada Shaker Jodat said in a press statement that "the House of Representatives may discuss the details of the draft budget law in today’s session of the amendments made to it."

"The weighted changes in the budget law will be a significant budget cut due to global oil prices as well as reducing the deficit and lowering the oil price estimates in the law," she said.

The MP for the construction alliance Charter Hamidi revealed in a previous statement to the / information /, talks within the parliamentary finance committee to reduce the price of oil estimated budget by 25%.

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Deputy: allocate 50 billion to apply Article 140
1/7/2019

A deputy for the Kurdistan National Union bloc announced the allocation of 50 billion dinars to implement Article 140 in the draft federal budget law for the year 2019.


MP Mariwan Nader said in a televised statement that the draft federal budget law for the year 2019 included the provision of 50 billion dinars to implement the constitutional article 140, returned that "a positive signal because the previous budgets did not include any allocations to Article 140."


He added that "Article 140 needs during the current year 420 billion dinars to end the stage of compensation for the injured, but was allocated 50 billion dinars only."


He added that "this will lead to delay the end of the stage of compensation for those affected," noting that "the compensation includes all the components affected by the demographic change operations carried out by the former regime in the areas cut off."

https://www.sotaliraq.com/2019/01/07…%AF%D8%A9-140/

Iranian tendency to delete 4 zeros from the national currency
1/6/2019

head of the "Alolaiaan" in the Islamic Shura Council , Hamid Reza Haji Babaei, Sunday that announced the cancellation of four zeros from the national currency is included on the agenda.

Hamid Reza Haji Babaei in a press statement briefed on the participation of the Governor of the Central Bank of Iran Abdul Nasser Hamati today in a meeting of "the House of Representatives of States" in the Islamic Shura Council, noting that my interest was presented during this meeting a report on the performance of the Central Bank in different fields.


The Iranian parliamentarian said that "Hamati stressed during this meeting that the government of Lador has a high exchange rate of foreign currencies."


"The governor of the Central Bank of Iran believes that the main problem in the country is not in foreign currency but in riyal, and has been standing in front of checks that are sold and bought in Dubai," Haji Babaii said.


"The road is open to China and Korea and the road to establishing relations with India is being opened," he said. "There have also been good talks with Turkey."


"The liquidity of 1,700,000 billion has lost 30 percent of its power as a result of inflation. We intend to delete four zeros from the national currency, which should be done quickly," Hamati was quoted as saying.

https://www.almaalomah.com/2019/01/06/380098/

Iraq is among the strongest economies in the Middle East for 2018 .. This ranking
1/4/2019

Saudi Arabia exported the Middle East as the largest economy in 2018 in terms of gross domestic product (GDP) at current "nominal" prices of $ 784 billion, while Iraq ranked sixth with a local output of $ 230 billion.

According to the analysis of the report unit in the newspaper "Economic" based on the data of the site spectator index and local statistical bodies of countries, Turkey came second with a nominal gross domestic product of $ 713 billion.

In third place came the UAE with a nominal GDP of $ 432 billion, Iran with $ 430 billion and Egypt with $ 249 billion.

Nominal GDP is the market value of the total final goods and services produced in a given country at current market prices.

Saudi Arabia’s gross domestic product (GDP) is expected to grow at current prices by 6.4 percent in 2019 to 3.13 trillion riyals.

In return for the nominal GDP of the Middle East in 2018, Iraq came sixth with a local output of $ 230 billion, followed by Qatar with $ 188 billion, Kuwait with $ 144 billion and Oman with $ 81 billion.

Lebanon ranked $ 56 billion, followed by Libya with $ 43 billion, Jordan with $ 41 billion, Bahrain with $ 39 billion and Yemen with $ 28 billion.

The Middle East is a geopolitical term for a geographical region located in the western part of Asia and part of North Africa.

These countries are characterized by the Mediterranean, the Red Sea, the Arabian Sea and the Gulf. This term has been used since the 1950s 19th century AD.

http://glgamesh.com/archives/35085

Karbouli warns against linking the fate of the Iraqi dinar in other currencies with lower value
1/3/2019

Al-Hilal Party Chairman Jamal al-Karbouli warned on Thursday that the fate of the Iraqi dinar would be linked to other currencies at a lower value.

"We are wary of linking the fate of the Iraqi dinar to other currencies that are less valuable than it," Karbouli said in a tweet on Twitter. "It will have serious consequences for our economy.

http://www.dijlah.tv/index.php?page=article&id=221196

Dirty Debts Iraq is losing billions of dollars and two oil exporters with Saudi power
1/3/2019


BAGHDAD / The oil expert,
Hamza al-Jawahiri, said Thursday that Saudi Arabia has taken control of an Iraqi oil port and a pipeline under the pretext that it is asking Iraq for financial debts, indicating that these debts are "dirty" debts that are unfounded.


"Iraq was established in the eighties of the last century, the port," Yanbu "oil in addition to a pipeline of 1200 kilometers between him and Saudi Arabia for the purpose of diversifying his rival, but these two implementations acquired by Saudi Arabia since then, under the pretext that it requires Iraq

"These debts are dirty and unregistered debts at the United Nations, because Saudi Arabia has financed the Iraq war and these are considered unofficial debts because they are debts of war."


"Unfortunately, the successive Iraqi governments since 2003 have not yet solved the file of oil ports or the debts demanded by some Gulf countries and estimated at $ 42 billion, and it remained the same without settlement, the ports are for Iraq and debt is informal but Iraqi governments They did not move at all. "


The term "dirty" is a universally agreed term called debt that finances wars and is considered informal debt.


An Iraqi official said on Thursday that Saudi Arabia had used an oil port on the Red Sea, which was built with Iraqi funds, while the Iraqi side objected.


The Gulf newspaper quoted the official as saying that "Iraq is seeking clarification from the Saudi side on the use of the Kingdom in recent period a port of oil on the Red Sea, was built with Iraqi funds as part of an agreement concluded at the end of the eighties between the two countries to diversify sources of Iraqi oil export, but stopped after the war Gulf".


"The project includes the extension of a strategic oil pipeline from the fields of Basra in southern Iraq, with a capacity of 1.6 million barrels per day and ends in Saudi territory at the port of Majaz, near the port of Yanbu Saudi Red Sea.

The port was built according to an agreement between the two countries with Iraqi funds, However, Riyadh has no right to act without returning to Baghdad as the owner of the right to invest in it. "


He pointed out that "Iraq is determined to seek clarification from the Saudis about the port of Al-Mujaz and the unilateral use of it," explaining that "the port was built with Iraqi funds, which is like any investment project governed by laws and agreements.


The port of Al-Majas started exporting before the first Gulf War broke out. However, it stopped exporting after the Iraqi pipeline stopped in 1990. The port was changed during the last period from the port of Al-Majas to the southern port of Yanbu.

http://aynaliraqnews.com/index.php?aa=news&id22=111706