Iraq retrieves 144 properties from France

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BAGHDAD / Sky Press:
Political source revealed early Tuesday the Iraqi government to retrieve 144 properties in the French capital Paris.

“Sky Press,” report that “the foreign and finance ministries settled procedures restoring 144 a properties in France belonging to Iraq since the reign of Saddam Hussein.”

It referred to the earlier report confirmed that Iraq was negotiating with the Foreign Ministries on the restoration of real estate property belonging to Barzan al-Tikriti, half-brother of Saddam Hussein in France to the Iraqi state.

The senior diplomatic sources revealed for “Sky Press” Earlier, the Iraqi government refused reports from the Belarusian ambassador in Iraq on the palaces and the money of the former regime of Saddam Hussein, while confirming the presence of (32) villas and apartments in Paris.

Parliament’s Committee on Foreign Relations member Ahlam al-Husseini demanded Thursday, the Iraqi government to form a joint committee of the Ministry of Finance and the integrity Committee on Foreign Relations to pursue recovery of Iraq’s debt owed by countries.

Sky Press

Central bank confirms its ability to meet the market needs in hard currency during the first half of this year

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BAGHDAD / JD / .. the economic and investment commission in Parliament, ruled out the central bank will raise the price of the dollar against the dinar amid the financial crisis, saying that the central bank able to meet the market needs of hard currency for the time being.

Committee member Rep. Najiba Najib told / KD /: The committee met with the Governor of the Central Bank Ali Allaq a few days ago to discuss the repercussions of the financial crisis on the dinar exchange rate against the dollar, noting that the central bank stressed that it has no intention at the moment to resort to raising the exchange rate of The dollar against the dinar.

She said the central bank also confirmed its ability to meet all the requirements of the local market in hard currency for the first half of this year, indicating that in the event of continuing financial crisis and the lack of revenue will resort to other solutions, including raising the value of the dollar.

Dananer News

Prime Minister Dr. Haider al-Abadi receives ambassadors of (G7) major industrialized nations with UN representative

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Mr. Prime Minister, Dr. Haider al-Abadi, received in his office on Sunday the ambassadors of (G7) major industrialized nations with UN representative Mr. Jan Kubiš.

Ambassadors for their country’s gave full support for Iraq in the financial crisis as a result of the collapse in oil prices and to find ways and alternative solutions to overcome and to provide the gravity of the Iraqi economy.

They also renewed their stance support for Iraq in its war against terrorism and expressed their blessing to the victories achieved.

Also they voiced their support for the reforms carried out by the Prime Minister Dr. Haider al-Abadi and support through the advent of experiences and training Iraqi’s.

Dr. Abadi added that Iraq is going through these challenges and difficult circumstances an opportunity to restructure the Iraqi economy in more efficient manner through the multiplicity of its resources and we started the basic needs for reform in order to build state institutions is not a goal of crossing the crisis only but to build a sound and healthy economy going for the Iraqi state.

Information Office of the Prime Minister

Sotaliraq

Emirates declares its readiness to send ground troops to Syria

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BAGHDAD / National Iraqi News Agency / UAE announced its willingness to send ground troops to Syria as part of an international coalition that is fighting organization “Daash” terrorist.

Anwar Gargash, UAE Minister of State for Foreign Affairs of the media in the UAE capital Abu Dhabi said today, “We are disappointed by the slow response to Daash, pointing out that we are not talking about thousands of soldiers, but we are talking about troops on the ground to lead the way, providing support, I think that our position remains as it is and we have to see how to get around it.”

Gargash explained that the presence of “American leadership of this force will be a pre-condition for the UAE.”

Saudi Arabia said at the time ready to participate in any ground operations in Syria if decides the coalition led by the United States to begin such operations.

For his part, Syrian Foreign Minister Walid al-Moallem said his country would resist any ground incursion in the territory and would be “aggressors in wooden boxes.”

He said “no ground intervention in the Syrian territories without government approval is an aggression, aggression that requires resistance becomes a duty on every Syrian citizen … We affirm that any aggressor would return to his country wooden boxes”.

National Iraqi News Agency

Parliament announces the inclusion of all border crossings customs tariff

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BAGHDAD / JD / .. parliament’s Finance Committee announced the inclusion of all border crossings to apply the customs tariff system on imported goods.

A member of the committee MP Jabbar Abdul Khaliq told / KD /: The Ministry of Finance has committed all border crossings, including the Kurdistan region, the application of the customs tariff on goods imported from abroad.

He added that in the event of non-compliance by the provincial government instructions of the central government in this regard will set up centers for examination on the customs tariff by the provinces associated with the Kurdistan region’s borders, indicating that traders when enters goods from the Kurdistan region will take fees both from the provincial government or the federal government.

The head of the parliament’s finance committee MP Faleh Sari had discussed earlier with a delegation from the Central Bank, headed by Ali Allaq During the meeting, they discussed several issues, including the subject of the customs tariff.

Dananer News

New mechanisms for the application of the customs tariff

Special – balances News

The Commission on the economy and investment representative, said on Sunday that the customs tariff law would apply to all of Iraq’s ports and there is no exception.

General Administration of Customs has deployed fixed patrols at the entrances of Baghdad and the provinces to make sure that the application of the customs tariff for cars coming from the border crossing points.

The committee member Harith al-Harthy / balances News /, “it was the development of new mechanisms at all border crossings, including the Kurdistan region, to inspect the goods and materials that go into the country from neighboring countries.”

He said, that “quality for the application of the customs tariff law and collection of fees for goods at border crossing points without any exception, also formed departments and committees will start its work soon.”

Balance News

The transition to electronic Monetary stage reduces theft

BAGHDAD / National Iraqi News Agency / a specialist in economic affairs of the Central Bank, called to encourage banks to adopt effective initiatives in the activation of the electronic exchange to facilitate trade and the removal of currency theft.

Muhammad Ali in a statement to the National Iraqi News Agency / nina / that “dealing with cash via credit cards and payment by mobile phone will greatly reduce the risk of carrying large sums and reduces cases of theft, armed robbery and serving the customer and business dealings alike.”

“The central bank in turn will save large sums of money for the cost of printing new currency as an alternative to the damaged currency that replace large amounts of them each year due to the large number of trading while the electronic transactions does not need to handle small currency.”

He noted that “electronic transaction reduce the minimum class in the accounting adjustments a thing has a positive effect on confidence in value of the national currency”.

National Iraqi News Agency

The volume of deposits in the local banks do not exceed 20 trillion dinars

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BAGHDAD / JD / .. A number of specialists in the banking affairs of the Iraqi government to develop the Iraqi banking system to be one of the factors helping to achieve economic development in the country, noting that the volume of financial deposits with local banks, public and private, both of no more than 20 trillion dinars, tiny compared to some countries in the region.

The executive director of the Association of private banks Abdul Aziz Hassoun, said the Iraqi banking system in need of treatment, not reform, noting that the results of the deterioration of the banking system began to hit deep after referring the public to deal with the banks.

He stressed the need to contribute to bridge the financial gap that rolled the country, what can be put in front of officials in the various authorities is that the task of the Ministry of Finance to implement program that direct intervention to support a group of private banks, which sees the benefit in the attribution, by contributing to increase their capital shares acquired by the ministry affiliated institutions such as specialized banks and insurance companies, which allows them to participate in the administration, helping to stop the panic, which is installed in the public to deal with banks and deposits, after finding the government’s participation surest guarantee for their money.

He noted that the private sector deposits in public banking, does not exceed 20 trillion dinars barely equivalent to about 20 billion US dollars to the government banks (60%) and (40%) in private, they are small compared with the size deposits in Lebanese banks which exceed the equivalent of 170 billion US dollars as well as in Egypt, where more than 180 billion US dollars, wondering how it will contribute to the Iraqi banking system in financing various economic activities that do not deposit with banks.

For its part, the Committee on the economy and investment representative stressed the importance of the development of the Iraqi government and private banking sectors one of the factors contributing to the economic development of the country.

Committee member Najiba Najib told / KD / The financial crisis faced by the country currently makes it imperative to achieve sustainable development in the country to diversify its revenue and activation of other economic sectors and this needs to be factors that help them develop the Iraqi banking system.

Bankers, both government and private sector support to take an effective role in supporting the Iraqi economy, either with money or legislation.

Economist say reconcile the economy facts and figures, to support balanced economic development, exploitation of optimal physical and human resources through the development of the banking sector to become an active role in the implementation of fiscal policies.

He added that Iraq until the present time lacks the establishment of a bank for economic development, although the 2016 budget law approved the establishment of such banks in all provinces to cover the investment services and infrastructure reconstruction.

He noted that the current role of the banking sector is influential and effective closer to neutrality, noting that private sector banks are few in number in the stock market, along with the fear citizen of investing money in undefined institutions or offer for services and facilities provided by the community, Like the rest of the companies listed on the Iraq Stock Exchange, where indicators showing weakness.

He stressed that contribution of the citizen’s money in those banks and companies lead to increased investment rates, thus increasing the economic activities, they returned to the investors a significant role in increasing liquidity and reducing the inflation rate to the fact that their contribution to the project will reduce the presence of cash that will increase its value due to tight supply.

The number of private banks registered with the Central Bank of Iraq at 32 banks, including eight Islamic, but it is according to relevant experts not constitute a record developmentally real support of industry, agriculture, small and medium enterprises in the country and limited activities on the operations.

Dananer News

Basra Times Square

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BASRA

Governor of Basra Majed Nasraoui on Sunday, inaugurated one of the largest sections of Basra Times Square complex, a hypermarket that Global Center City company retail sales managed with area of 10,000 square meters in addition to Lai style shop both parts home & kids home furnishings and children’s needs.

He said “Basra Times Square project largest markets in Iraq, the company executing opened up prospects for global investment within the mall.”

He added, “We opened this day, City branch center which is a Kuwaiti company and we find that the price is suitable, in addition to the Lai style shop both parts home & kids home furnishings and the needs of children.”

He pointed that “the local government of Basra, eliminated all obstacles to the opening of this mall, we hope that there will be branches of this huge project in other parts of the province of Basra, Zubair population of high density”.

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AIN