Al-Sudani takes a number of steps regarding financial and banking reform in Iraq

Shafaq News / Prime Minister Mohammed Shia al-Sudani directed, on Friday, to take a number of steps within the framework of banking and financial reform in the country, including increasing the number of bank branches in the governorates, as most activities are concentrated in the capital, Baghdad.

Al-Sudani’s media office stated in a statement today that “within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges facing the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country, and because most of the activities were concentrated in the capital, Baghdad, Al-Sudani directed that a number of steps be taken in this regard.”

Among the steps, according to the statement, is “increasing the number of bank branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity, and providing their basic requirements.”

The statement pointed out the necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily.

The statement stressed the importance of banks developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts.

The media office pointed out the enhancement of financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.

The statement called for launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest money properly.

The statement directed the organization of workshops to train young pioneers and local businessmen on how to deal with loans and financial services.

The statement added that the Ministry of Finance, the Central Bank of Iraq, and the Iraqi Private and Islamic Banks Associations will coordinate with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office regarding the progress of work regarding the steps mentioned above.

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Parliamentary determination to pass controversial laws and fear of general amnesty legislation

Information/Baghdad… Political movements continue to pass controversial laws, especially the general amnesty and personal status, as the Coordination Framework is heading towards an agreement between its poles to extend the legislative term of the House of Representatives, which is what actually happened after the presidency of the council, led by Mahmoud Al-Mashhadani, announced the extension of the legislative term for a month in order to settle the disputed laws and find a consensus formula to mature these laws in preparation for presenting them for a vote within the council.

Despite the legal differences in terms of wording, content and details in general, the political move by the framework comes in order to decide on the legislation of the two laws during the period of extending the legislative term. However, there are fears of passing a general amnesty and including terrorists whose hands are stained with the blood of Iraqis in this law, which is something rejected by some components that are still demanding the rights of their children as a result of the massacres committed by the terrorist ISIS in their areas.

The head of the Ajyal parliamentary bloc, MP Mohammed Al-Sayhoud, told / Al-Maalouma /, “The presidency of the Council of Representatives went towards extending the current legislative session for a period of one month to enable the Council to legislate a number of procedurally complete laws to compensate for the delay of previous sessions due to the preoccupation of the representatives of the Kurdish blocs with the elections for the regional parliament. It is likely that next week will witness the approval of the amnesty, personal status, and retirement laws for the Popular Mobilization Forces.”

On the other hand, the representative of the Coordination Framework, Mohammed Radhi, confirmed to / Al-Maalouma / that “the Legal Committee studied all the proposals of the members of the House of Representatives regarding the proposals to amend the Personal Status and General Amnesty Laws and took into account what was presented during the second reading, as the legal wording for both amendments was prepared, taking into consideration that no terrorist whose hands were stained or who helped in shedding the blood of Iraqis would be included in the General Amnesty Law, as the House of Representatives will resume its sessions next week and voting on the two laws will be at the top of the agenda items.”

Despite the parliamentary trend to approve a general amnesty and personal status, there are fears of releasing terrorists, as the Yazidi MP Sharif Suleiman explained to /Al-Maalouma/, “There are comments on the performance of the federal government, especially with regard to holding accountable those whose hands were stained with the blood of Iraqis and were the reason for killing, kidnapping and displacing Yazidis during the period of ISIS terrorist control over Nineveh and its regions, as everyone, especially the Yazidi component, is waiting for the trial of ISIS terrorist elements and retribution from them, and the return of the displaced and kidnapped and adjusting their conditions after the suffering they went through as a result of ISIS crimes,” noting that “the Yazidis’ rejection of the general amnesty law comes from fear of standing with ISIS and releasing them despite their shedding the blood of Iraqis and committing massacres during the period of their control over some areas.”

On Monday, November 4, the Coordination Framework held its regular meeting in the office of the leader of the Victory Coalition, Haider al-Abadi, where it called on the Council of Representatives to extend its legislative term and shorten its vacation in line with the developments in the region and important legislative entitlements. Based on this meeting and the invitation addressed to Parliament, the Council Presidency announced yesterday, Thursday, the extension of the legislative term for a period of 30 days starting from November 9.

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Parliamentary praise for the government’s achievement in the Grand Faw Port

Member of the Parliamentary Services Committee, Alaa Al-Dalfi, confirmed Thursday, that the opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects. Al-Dalfi stated in an interview with Al-Sumaria Channel, “The opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects,” explaining that “the eyes of the Iraqi people are directed towards it because it is one of the projects that will support Iraq’s budget and its economy.”

He added: “The docking of the first ship is a joyful thing and will enhance the economic situation in the country. It will provide many job opportunities and enhance the development of development and economic projects in the country.”

The MP pointed out that “the House of Representatives supports all major development projects in the country, but there is one observation, which is linking the development path to neighboring countries, which could reduce the importance of the Faw Port, which is considered one of the projects that, if implemented well, will contribute to moving the country to a new stage of economic development.”

Al-Dalfi continued, “This project suffered from procrastination in the previous government,” considering that “Prime Minister Mohammed Shia al-Sudani succeeded in several files, including transportation and Iraqi ports, and also achieved a major leap in services.”

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Faw Port prepares to receive the first commercial ship

The Prime Minister’s Advisor for Transport Affairs, Nasser Al-Asadi, announced that the Faw Port is ready to receive the first commercial ship.

Al-Asadi told Al-Sabah: “The second ministerial meeting that included the participating states: Qatar, the Emirates, Turkey, in addition to Iraq, to ​​discuss the memorandum of understanding for joint cooperation regarding the Development Road Project was very important, and it was decided within the memorandum of understanding that was signed in April of this year to hold this meeting every two months.”

He added that “the importance of this meeting lies in signing the approval of the “governance” for the Development Road Project at four levels: ministerial, executive, technical, and secretarial,” noting that “it will manage the project during the next stage, and it was agreed upon and signed.” Al-Asadi explained that “there is an important issue in the development road project, which is reaching an advanced stage in the initial designs and completing the railway designs by (100) percent and placing the train and its specifications, in addition to completing (84) percent of the expressway designs, and the rest of the service corridor is in the hands of the sectoral authorities to develop the investment vision in this field.”

He also announced the completion of the five docks of the Faw Port, and it is likely that the first commercial ship loaded with “containers” will dock at the port for inspection and testing, and the construction of the submerged tunnel has been completed, and there are no problems or leakage after it was inspected by the existing company and specialists, and it is in the process of being prepared to be pulled and submerged inside the Khor Al-Zubair tunnel. For his part, the director of the submerged tunnel project, Salam Yaqoub Youssef, said: “The parts of the tunnel were completely submerged in the manufacturing basin.

” Youssef added to “Al-Sabah” that “the water level reached (13) meters out of a height of (13.7) meters.”

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Rafidain announces the implementation of the electronic system in 48 branches in Baghdad and the governorates

Information / Baghdad… Rafidain Bank announced today, Thursday, the implementation of the electronic banking system in 48 branches in Baghdad and the governorates.

A statement by the bank received by Al-Maalouma Agency stated that “48 branches have been operated so far within the comprehensive banking system, which reflects its commitment to updating its services according to the highest international standards.”

He added, “This development comes as part of the bank’s strategy to improve customer experience across all its branches, and facilitate access to integrated, fast and secure banking services.”

He explained that “the comprehensive banking system represents a qualitative shift in the bank’s path, as it supports digital transformation and enhances the bank’s ability to efficiently meet the needs of a wide range of customers.”

He explained that “this continuous expansion will include more branches in the future, as part of a well-thought-out plan aimed at providing a modern banking experience that contributes to supporting the national economy and meeting the needs of society with distinguished and comprehensive banking services.”

Almaalomah.me

Expectations of continued US presence in Iraq with Trump’s arrival to power

Information / Baghdad… Political researcher Qasim Al-Tamimi said on Thursday that the equation of the American presence in Iraq and the issue of withdrawal from Iraqi territory may change with Trump’s arrival to power, suggesting that the American presence inside Iraq will continue despite the existence of an agreement between Baghdad and Washington on this issue.

Al-Tamimi told Al-Maalouma, “The US President-elect, Donald Trump, has clear intentions towards the countries supporting and participating in the axis of resistance, and it is not hidden from everyone that he was behind the crime of assassinating the leaders of victory on the approaches to Baghdad airport.”

He added, “Iraq has moved towards removing American forces from the country, and an agreement has been reached between Baghdad and Washington on this issue, but Trump’s arrival to power may change this equation with the aim of continuing the American presence in Iraq.”

He explained that “Trump had previously visited the Ain al-Assad base in Anbar and met with the American forces there, and therefore the presence of American forces inside Iraq represents a priority for this figure, which excludes the implementation of the agreement for the withdrawal of these forces from Iraq.”

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Parliamentary calls to reconsider calculating the price of a barrel of oil in the 2025 budget

Information / Baghdad… The State Support Parliamentary Bloc called, on Thursday, for the necessity of reconsidering the calculation of the price of a barrel of oil in next year’s budget.

Bloc member Mohammed Al-Ziyadi said in a statement to Al-Maalouma Agency, “Stopping the war in Ukraine will return oil prices to $50 per barrel, so the government must reconsider calculating the price of a barrel of oil in the budget for next year 2025.”

He added, “Reconsidering the calculation of the price of a barrel in the general budget is not enough, but rather it is necessary to take important measures to reduce government spending and work to activate non-oil sources of revenue and accelerate the completion of governance in all state institutions, especially taxes and collected funds to eradicate corruption.”

The State Administration Coalition held a meeting yesterday, Wednesday, in the presence of Prime Minister Mohammed Shia al-Sudani, where a number of files were discussed, including the emphasis on supporting the step of amending one of the articles of the federal general budget related to oil.

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Iraq and 7 countries extend oil production cuts

Eight OPEC+ countries announced on Monday that they would extend the oil production cut until the end of next December.

The countries, namely Iraq, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and the Sultanate of Oman, said in a statement that they “agreed to extend for one month the additional voluntary production cut of 2.2 million barrels per day.”

The decision aims to prevent the market from being flooded with supply and prices from falling, while the price of US West Texas Intermediate crude and Brent crude is around $70 per barrel amid no growth in demand and an acceleration in supply.

OPEC, led by Saudi Arabia, formed the OPEC+ alliance in 2016 with other countries, including Russia, to deal with the challenges posed by US competition.

This alliance currently has 22 members, who are cutting production by about six million barrels per day, either based on a decision taken at the alliance level or through additional voluntary restrictions.

OPEC+ ministers are due to meet in Vienna, where OPEC is based, in early December. But Sunday’s announcement confirms that the eight countries that extended production cuts will not abandon current cuts to oil output before the start of 2025.

Thus, the voluntary cuts will begin to be lifted at least three months later than the date set at the last ministerial meeting in early June, when OPEC and its allies announced their desire to increase production starting in October.

But the group left a way out at the time, noting that this decision is subject to review at any time.

Global oil demand growth has been declining for months due to a slowdown in the economy in China, the world’s second-largest consumer and the main driver of global oil demand growth, and in the United States, which is awaiting the results of the presidential elections scheduled for Tuesday.

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Al-Sudani directs the localization of private sector salaries and sets next July as the date for the departure of cash payments

Prime Minister Mohammed Shia al-Sudani directed, on Monday, to localize the salaries of private sector workers, similar to state employees, while setting July of next year as the month for the departure of cash payments by government institutions.

Al-Sudani’s media office stated in a statement received by Shafaq News Agency, “In implementation of the financial and economic reform approach, which represents one of the government’s most important priorities, the Prime Minister directed a number of steps to be taken to enhance and develop electronic payment systems and services.”

He explained that the directive included working to localize the salaries of private sector employees, similar to the government sector, and assigning the Ministry of Labor and Social Affairs and the Central Bank of Iraq, with the participation of a number of private sector institutions, to prepare an appropriate mechanism for this purpose.

Al-Sudani also stressed that ministries and all government institutions should abandon cash payments and use electronic payments in collection and other related transactions, through an integrated plan submitted by each ministry or government institution before December 31, with actual implementation to begin no later than July 1, 2025.

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Sistani identifies seven factors for “Iraq’s stability”: You have a long way to go to achieve this

The highest Shiite authority in Iraq, Sayyid Ali al-Sistani, identified seven factors for the “stability of the country” on Monday, stressing that Iraqis have a “long path” to achieve this.

This came according to a statement issued by his office in Najaf, after he received this morning Mohammed Al-Hassan, the representative of the Secretary-General of the United Nations and head of its mission in Iraq (UNAMI) and the accompanying delegation.

The statement explained that Al-Hassan gave Al-Sistani a brief explanation of the tasks of the international mission and the role it aims to play in the coming period.

In return, the reference Sistani welcomed the presence of the United Nations in Iraq and wished its mission success in carrying out its tasks.

Al-Sistani pointed to the major challenges facing Iraq at the present time and what its people are suffering on more than one level.

“Iraqis, especially the conscious elites, should learn from the experiences they have gone through and do their utmost to overcome their failures and work hard to achieve a better future for their country in which everyone enjoys security, stability, progress and prosperity,” said the Grand Ayatollah Sistani, stressing that “this cannot be achieved without preparing scientific and practical plans to manage the country based on the principle of competence and integrity in assuming positions of responsibility, preventing foreign interference in all its forms, enforcing the rule of law, restricting arms to the state, and combating corruption at all levels.”

Al-Sistani added, “But it seems that the Iraqis have a long way to go before they achieve this, may God help them.”

Regarding the volatile situation in the region, the reference expressed his “deep sorrow over the ongoing tragedy in Lebanon and Gaza and his deep regret over the inability of the international community and its institutions to impose effective solutions to stop it or at the very least to neutralize civilians from the tragedies of the fierce aggression practiced by the Israeli entity.”

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