The Federal Law provides for the unconstitutionality of a substance in the budget that authorizes the House of Representatives to construct a building

Treasures of Media – The Supreme Federal Court, Tuesday, unconstitutional article in the federal budget law for 2018 authorizes the House of Representatives to build a building for him two billion dinars.

"The Supreme Federal Court held its session under the chairmanship of Judge Medhat al-Mahmoud and the attendance of all the members of the judges, and considered a lawsuit to challenge some articles of the General Budget Law for the fiscal year 2018, which was established by the Prime Minister, in addition to his job on the Speaker of the House of Representatives, In addition to his job. "

"The lawsuit included eight appeals, two of which were rejected, and six were judged by the unconstitutionality of articles in the budget because they violate the Constitution," adding that "of the articles contested is Article (57 / I) of the law and provided for the allocation of about 300 billion dinars, including two billion dinars of the investment budget allocated for the construction of a building of the House of Representatives.

He explained that "the Federal Supreme Court found that the allocation of the House of Representatives for this amount and add it to the draft budget law for the year 2018 without reference to the Council of Ministers to take his approval contrary to Article (62 / II) of the Constitution, and to obtain the approval of the Economic Committee in the Council of Ministers on the project Means the approval of the Council of Ministers in accordance with the requirements of Article (62 / II) of the Constitution and therefore ruled unconstitutional article.

It is noteworthy that the House of Representatives voted, in its session held on Saturday (March 3, 2018) on the federal budget for the current fiscal year boycotting the Kurdish deputies.

On Thursday, March 29, 2018, the Presidency of the Republic announced that the budget law would be sent to the Ministry of Justice for publication in the Official Gazette, without the approval of President Fuad Masoum.

The Ministry of Justice announced on Tuesday (April 3, 2018), the issuance of a new issue of the Iraqi fact sheet, indicating that the number included in the Financial Budget Act 2018.…-%D8%A7%D9%84/

Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade

KUWAIT, Iraq – Iraq’s approval of any Iranian request to exchange trade between the two countries in local currency instead of the US dollar has been ruled out by economic expert Majid al-Suri, noting that such an agreement would not be in Iraq’s favor.

Al-Suri said that Iraq can not apply trade with Iran in local currencies because the trade balance will be in favor of Iran and the majority of trade for its benefit. "

He added that "the implementation of this agreement will work to store the Iraqi currency within Iran, which is not in the interest of Iraq, pointing out that" such a decision is not only the competence of the Central Bank of Iraq,

but the power of the Government of the Ministry of Finance in consultation with the Central Bank of Iraq and do not expect the bank The Central Bank of Iraq on such a matter. "

"A number of countries, including India, Russia, China, Brazil and South Africa, are trying to reduce the dollar’s control over international trade and the trade war between China and the United States has resulted," he said.

The governor of the Central Bank of Iran and Crown Prince Ali Abdullah announced on Sunday the follow-up of the bank to conclude monetary agreements with Iraq, Russia and Azerbaijan to deal in national currencies.

Iraq’s foreign currency reserves rise

7/9/2018The Central Bank of Iraq announced Monday that foreign currency reserves rose to 55.7 billion dollars last June.

A source at the Central Bank of Iraq, the central bank reserves rose in June to 55.7 billion dollars, adding that the rise in foreign exchange reserves, due to successful management.

The source pointed out that Iraq, one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100 percent of the dollar.…3%D8%AC%D9%86/

Conscious / dollar exchange rates in local trades today

The local currencies of currencies, on Tuesday, the exchange rates of the Iraqi dinar against the US dollar, in the following order:

Price in Iraqi Dinars per 100 USD:

Bursa fight (Baghdad) ALkeafah the Exchange Stock Selling Price: 120,200 JOD The purchase price is 120,150 dinars

Harithiyah Exchange AL harthiy Stock Exchange The sale price is 120,250 dinars The purchase price is 120,200 dinars

Erbil Stock Exchange (North) Arbil the Exchange Stock The sale price is 120,450 dinars The purchase price is 120,400 dinars

Basra Stock Exchange (South) AL Basra Exchange The sale price is 120,450 dinars The purchase price is 120,400 dinars. 8%AA-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%8A%D9%88%D9%85.html

International companies looking to be present in the Iraqi market


Because it is a promising and influential regional and international
Baghdad / morning
represent the Iraqi market , the focus of great interest to the various international companies that monitor closely the economic reality of Iraq, where the global effort of opportunities just waiting to enter the broad field of employment in the country.

A member of the Baghdad Economic Forum Jassim Al-Aradi stressed that "Iraq is a promising and large job market in the region and the world, and all the regional companies of the world recognize the importance of Iraq on the international arena, and he began to exist on the field of work, in the field of privatization," noting "friction with the global effort continuously Made us point out the interest of those companies in Iraq
and its economy. "

He added that "the concerned parties have to do the reality of investment and create the appropriate environment for the arrival of large companies and create real competition between the Iraqi effort, where competition leads to the development of the reality of the qualitative implementation of the total domestic projects,

" pointing out that "the entry of service companies to the country, including taxi and work mechanisms Sophisticated will do transport services and transfer to a better stage, where the beneficiary goes to the company that offers the most suitable for the standard of living.

"Iraq is a long-standing country with its rich local heritage and strategic importance in the region," said Karim Sheikha, CEO and co-founder of Karim.
Their families. "

He continued , " we seek through our presence and our presence in the Iraqi market through investment and the introduction of solutions and services, so as to achieve our vision of making a quantum leap in the transport and contributing sector on the other hand in the reconstruction of Iraq to be able to return to the outdated former as one of the leading countries the
region. "

He added that the company "introduced new mobility solutions, but enhanced them with various payment options made easy for users such as cash payment, credit card, or using the company’s credit, and the adoption of the latest technologies and systems such as GPS, which ensures the accuracy of access to the user Track the track The selected time in the original time.

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

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