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Thread: December 2019

  1. #1
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    December 2019

    Integrity: the central bank bought 10 machines with $ 15 million turned out to be tearing up money!

    12:09 - 11/12/2019



    [...]

    The information / Baghdad ..
    The Integrity Commission revealed, on Wednesday, that the Central Bank of Iraq purchased 10 machines at $ 15 million to count the currency before it was found that it was tearing the money.
    The authority said in a statement, which received / information /, a copy of it, that “the incoming intelligence is related to the subject of (volatile sukuk) and the collusion of some banks with people by depositing sukuk with no possession of them, in order to participate in the currency auction for the purpose of profit and benefit from the price difference between the central bank The local market, in addition to the purchase of 10 currency counting machines called the “comprehensive machines” by the Central Bank and the Central Bank, with a total amount of (15,000,000) million dollars, which were found to be of no benefit, as they destroyed the banknotes.
    The commission added, "This has caused a great loss of funds," confirming that "3 of those intelligence are being monitored." Ended / 25

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    Parliamentary finance excludes sending the 2020 budget law before the end of this year[/size]
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    Private- Mawazine News,
    The Parliamentary Finance Committee on Thursday ruled out sending the budget law for the year 2020 to the parliament before the end of this year.
    Committee member Shirvan Mirza said in an interview with "Mawazine News" that "there are only days left at the end of this year, and it is unlikely that the budget law will be sent before the end of this year."
    He added, "Until now, the government has not sent the budget to the parliament."
    Deputies expected that the caretaker government will send the budget law in the coming days to the House of Representatives.

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    The House of Representatives: The appointment of Saleh as prime minister calls for the government to remain with its current ministers[/size]
    Political | 08:41 - 17/12/2019

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    Baghdad - Mawazine News
    , First Deputy Speaker of Parliament Hassan Karim Al-Kaabi confirmed on Tuesday that the President of the Republic, Barham Salih Al-Maqam, Prime Minister, calls for the government to remain in its current ministers.
    Al-Kaabi said in a statement received by / Mawazine News / a copy of it, that "what is being circulated in the media regarding the position of the President of the Republic as the Prime Minister in the event that he does not assign the candidate to form a government during the constitutional period calls for its implementation and according to Article (81) of the constitution that makes President of the Republic of the Prime Minister when the position is empty for any reason, the following:
    1. the survival of the government list of current respective ministers, and does not apply the rule of dismissal or resignation, but a person is replaced by Prime Minister of another person is the President of the Republic.
    2. take over the post of President of the Republic The Prime Minister and exercising his powers without restrictions; K explicitly the text of Article (81 / I) of the Constitution.
    3. Consider the government as original, not a caretaker, and has full powers stipulated in the constitution.
    As the Prime Minister previously submitted his resignation, and that resignation was approved by the House of Representatives, which means that the government becomes a caretaker government, and as the saying that the Prime Minister is not fit to continue as prime minister is taking place on the ministers also because the responsibility of the government is solidarity, and that it does not Meaning for the President of the Republic to act as the Prime Minister in a government in which there are no ministers, and since Clause (Second) of Article (81) of the Constitution obliges the President of the Republic in the event that he takes the position of Prime Minister to appoint another candidate to form the Ministry within a period not exceeding ( 15) a day according to the provisions of Article (76) of the intrigue Tor, which is the same obligation incumbent on the President of the Republic in the event of the government’s resignation, and if this period elapses without he fulfilling that mandate, this commitment will not be waived, we believe that all this requires the continuation of the Prime Minister to conduct business with his current government until the President of the Republic implements Constitutional obligation placed on

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    Samir Al-Nasser

    On the occasion of the end of the year 2019, and in view of the special and new conditions that our beloved country is going through due to the widespread popular movement and legitimate demands for political and economic change and reform, and because our banks are the first major link in the national economy, we must make clear with the analysis and evaluation of the business results of banks 2018 and 2019 that they have faced challenges from the work environment other than Stable and attainment of bad debts more than (6) trillion dinars, the price of shares traded in the Iraqi market for securities decreased by (80%) and low liquidity of some banks to the minimum limits established by the Central Bank and the decrease in financial revenues Verification of deposits and deficiencies in the legislative environment, the determinants of instructions that regulate the economic process, tax and customs laws and instructions, their declining financing activities and their weak contribution to reconstruction, investment and development.
    It must be noted here that our banks confirmed their sobriety and strengthened the public's confidence in them during the current popular movement and the continuation of their daily activities and work despite administrative, logistical and technical difficulties, which contributed effectively to the implementation of the central bank policy in achieving stability in the exchange rate and perpetuating internal and external banking operations, which strengthened the International confidence in our international banking transactions, and this is evident when comparing the state of our banks with other countries that witness the same conditions and the popular movement, as happened in Lebanon, for example. This confirms that our banks are heading in the right direction.
    Therefore, it requires that it accomplish its plans for the year 2020 in the light of analyzing the results of its activities and activities in the light of the current conditions and expectations in 2020 after the formation of the new interim government and the requirements of the new situation and in accordance with the central and subsidiary central bank strategy goals in the year 2020 with a focus on contributing to the implementation of the strategic banking projects that it plans And put it and set its goals the Central Bank, which are 21 technical, financing and administrative projects and come up with policies and procedures according to their actual needs in the sustainability of their provision of their banking products and enhance their freedoms from restoring confidence in the banking sector and that these etc. are prepared I coordinate with the specialized departments of the Central Bank by holding working meetings and diagnostic and analytical discussions organized by the Banking Control Department in cooperation with the Iraqi Private Banking Association and setting policies and procedures to meet the major challenges facing banks and focus on re-reviewing, evaluating and amending their policies and procedures and developing them towards their establishment
    The completion of banks' plans for the year 2020 requires them to take quick steps, which is the transition of the Iraqi banking sector to a discreet and developed economic sector and is committed to international regulations, rules and standards for compliance, combating money laundering, financial reporting and risk management, and thus the transition from the role of banking to the development role and contributing to the revitalization of the economic cycle by activating and supporting financing Small and medium enterprises and large development projects through which a solid national economy and sustainable development are achieved that ultimately serves the Iraqi people and their aspirations for a better life.
    This requires that each bank have a specific plan for the year 2020 in the areas of technical development and work in accordance with international standards to achieve financial inclusion, attract deposits, work on capacity-building, training and qualify human resources, achieve the goal of investing in human capital and develop the structural structure of the banking sector in addition to the banks ’interest in applying Financial stability criteria, which are financial safety indicators such as the ratio of the capital adequacy ratio, the liquidity ratio, the profitability ratio as the ratio of profit and net profit to capital, the percentage of return on assets, the percentage of return on shareholders ’equity, the cost of activity and the ratio Leverage of funds and the percentage of investing funds, in addition to adopting indicators to measure the efficiency of performance and the creation of units for statistics, studies and financial analysis to indicate monthly, quarterly and annual deviations in the drawn plans.
    This needs the government and the central bank to support banks and enable them to continue banking activity and to implement the decisions of the Council of Ministers and the Economic Affairs Committee related to the revitalization of banking work, especially in the field of credit and banking financing and bank loans and facilities and give a fundamental role to private banks and their involvement in the manufacture of central economic decisions

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