Ministry of Finance launches PASS 99 Integrated Management System

As part of its vision to achieve global leadership in financial management, the Ministry of Finance (MoF) launched, in cooperation with PDCA, PASS 99 Integrated Management System, where the system will be implemented in multiple stages. The first stage includes implementing the system within quality systems to manage Information Technology (IT) where in the next phase, it will be implemented within 11 quality systems in the Ministry.

The PASS 99 Integrated Management System enhances the Ministry’s ability to meet all quality system requirements through developing a set of unified policies and procedures that remove the need to duplicate tasks, save time and effort and enhance work efficiency and productivity.

The Ministry will apply and circulate the system within the IT management in the first phase, which will include Information Security Management System ISO 27001, Information Technology Service Management Systems ISO 20000 and Business Continuity Management System ISO 22301.

Commenting on the launch of the system, Musabah Mohammed Al Suwaidi, Assistant Undersecretary of Support Services Sector at MoF said: “The Ministry continues to improve performance operational level and implement international standards in its internal systems, where the Ministry commits to providing all the necessary support to achieve optimal use of the Ministry’s human resources, and in turn to save time and effort as well as enhance internal control. This will raise the level of services provided to customers.”

PASS 99, the world’s first specification for integrated management systems, is based on a set of management principles to enable institutions to reduce the number of required documents and ensure efficiency and effectiveness of these systems. The system also identifies institutions’ needs which in turn enhances operational efficiency and limits any risks. The system also assesses institutions’ performance and evaluates the objectives assigned to the management.

Iraq Daily Journal

Hopes for agricultural sector revival with ‘IMMINENT’ reopening of Jordan-Iraq border

Farmers and exporters are pining hopes on the “imminent” reopening of the Karama-Turaibil border crossing between Jordan and Iraq to revive the agriculture sector, according to a sector insider.

The border crossing, located 370km from Amman to the east, represented a vital exit for Jordan’s exports of fruit and vegetables to Iraq and other markets in Europe, until it was shut down in the summer of 2015, leaving the market congested with its produce.

On Saturday, Iraq Ambassador to Jordan Safia Al Souhail told The Jordan Times that Turaibil border crossing between Jordan and Iraq is expected to be reopened in less than two weeks.

Late last week, Iraq’s military announced it had retaken the remote western town of Rutba, an Iraqi town across the border with Jordan, in an operation launched to cut off the militants’ supply route to neighbouring Syria.

“The border crossing will be reopened in less than two weeks, after completing landmines and remnants of war clearance,” the ambassador added.

President of the Jordan Exporters and Producers Association for Fruit and Vegetables Zuhair Jweihan said he was upbeat over news that the border crossing may reopen soon, noting that farmers and exporters of fruit and vegetables will both benefit from the decision.

“The Kingdom used to export 180,000-200,000 tonnes of fruit and vegetables to Iraq each year. After the border crossing was closed, they resorted to exporting to Iraq via Kuwait route, which is very costly, time-consuming and full of hurdles related to visa acquirement and transportation,” Jweihan told The Jordan Times on Saturday.

He underscored that “very limited amounts of fruit” are now being exported to Iraq via Kuwait.

“Once reopened, farmers and exporters can resume exporting local produce to Iraq, especially fruit, and would be able to shake off some of the losses they have incurred over nearly a year,” Jweihan noted.

He said that lack of export portals of the local produce, pushed prices of fruit and vegetables to “very low” levels in the domestic market, which he said causing losses to farmers and traders.

Also last year, the Kingdom closed the Jaber border crossing with Syria for security reasons, while Ramtha, the other border crossing with the war-torn country, has been closed for nearly five years.

A total of 1,000 tonnes of fruit and vegetables, worth millions of Jordanian dinars, used to be exported every day to Syria and Lebanon, according to the association.

The Syrian and Iraqi markets used to consume nearly two thirds of the Kingdom’s exports of vegetables.

Iraq Daily Journal

Arab investors urged to forge partnerships to ‘Rebuild Iraq’

construction
Arab countries were encouraged on Sunday to engage in infrastructure and construction projects worth approximately $22 billion designed to rebuild Iraq.

The call was made by Chairman of the Federation of Arab Contractors Fahd Al Hammadi at a conference held in Amman, with the participation of several Arab and foreign countries on available investment opportunities in Iraq and plans to rebuild the country.

“Currently, there are opportunities for investing in projects worth around $22 billion in Iraq in infrastructure and many other fields. Arabs need to do more to engage in the process of rebuilding Iraq,” Hammadi said at the event, which was attended by hundreds of business people from the Arab world.

“This event provides a great platform for building partnerships and exchanging ideas,” said Hammadi, stressing that need for financing institutions and banks in the Arab world to effectively partake in the process of rebuilding Iraq through extending necessary finance for several projects.

Stressing on the key role Jordan can play in the rebuilding of Iraq, Safia Al Souhail, Iraq’s ambassador to Jordan, called on businesspeople to forge partnerships to effectively contribute to the rebuilding of her country.

“Rebuilding Iraq is a key tool to fight terrorism,” said the ambassador.

“Iraq has given a lot to all, now it looks for your support to be rebuilt. We need Arab and international community’s support,” said the Iraqi diplomat.

Minister of Housing and Public Works Sami Halaseh said the conference is an opportunity for businesspeople to boost cooperation and explore current and future investment opportunities in Iraq.

The minister stressed on the role Jordan can play in the construction sector in Iraq.

Iraq Daily Journal

Ban importing tomatoes, potatoes and cucumbers to the abundance of local product

vegies
Ministry of Agriculture announced on Monday, to prevent the import tomatoes, potatoes, cucumbers crops in addition to watermelon because there is a local product enough to meet the daily needs of the Iraqi table.

A ministry statement received / balances News / copy of it, that “the decision of local product protection and support of national production, a consistent policy pursued by the ministry to monitor the market and prevent the import of crops that can be dispensed with.”

The Ministry of Agriculture has banned crops cauliflower, beets, lettuce ban continues until now.

Balance News

Abadi agreed to open Trebil Saturday and the allocation of 5% of its imports fees to Anbar

jordan
Early on Monday, a source revealed the approval of Prime Minister Haider al-Abadi to open the Trebil border crossing with Jordan starting Saturday, as pointed out postpone work customs tariff at the crossing for a period of one year, confirmed the allocation of 5% of the port fees to the province of Anbar.

The source told / information /, “Prime Minister Haider al-Abadi agreed to open Trebil border with Jordan starting Saturday, after liberating Humid city and clearing the road link between Trebil.”

The source added that “the decision to postpone the work of the customs tariff system for one year in order to facilitate the passage of goods in Trebil, to the accumulation of a lot at the Jordanian port of Aqaba and stimulate economic activity in the port.”

The source, who asked not to be named, said that “the allocation of 5% of the imports tax for Anbar province to contribute to the reconstruction of the province.”

Information Agency

Iraq is in agreement with the IMF for a positive credit rating

moodys

The credit ratings agency Moody’s, said if the agreement concluded by Iraq and the International Monetary Fund last week, regarding loan worth 5.4 billion dollars, a positive credit rating will improve the liquidity of the government strapped to it.

According to Moody’s in a statement, said “The agreement will help Iraq to finance the budget deficit and the current account deficit.”

It may provide an agreement that was reached last Thursday of additional international aid worth $15 billion over the next three years to support an economy hit by the drop in oil prices since mid 2014 and costly war against Daash.

AIN

Abadi up to headquarters of the liberation of Fallujah operations

abadi
The commander of the armed forces, Prime Minister Haider al-Abadi arrived Monday morning to the headquarters of the liberation of Fallujah operations and oversaw the ground operation to liberate Fallujah in Anbar province.

The source told all of Iraq [where] that “Abadi arrived at the operations headquarters in western Baghdad and briefed on the progress of Fallujah operation plans.”

Abadi announced late Sunday night starting liberation Fallujah operation of terrorist gangs.

AIN

Kurdish blocs to end their boycott and return to Baghdad next week

kurds
Kurdish parliamentary blocs decided to end their boycott and return to Baghdad early next week.

For his part, the Speaker of Parliament Saleem al-Jobouri said in a statement, “We will meet tomorrow with the heads of parliamentary blocs and we will go towards determining the parliamentary session, which will be comprehensive and attended by all members.”

AIN

Paris Club postpone Iraq’s debt until 2019

paris

Prime Minister Economic Affairs Advisor Mohammed Saleh Saturday, said that the members of the Paris Club nations decided to postpone the debt of Iraq until the end of 2019, as pointed out that the procedure was to ease the financial burden on Iraq, he stressed that those annual dues amounting to about $800 million.

He said that “the last meeting of the Paris Club on sovereign debt of countries based on what introduced by Canada reached Iraq the Convention on credit to be prepared with the International Monetary Fund Member States decided at the club to exempt Iraq from paying interest accruals on the remnants of debts and suspended until the end 2019.”

Saleh added that “the debts of countries of the Paris Club and other sovereign debt receivables from outside the club, which is subject to be considered the same and payable amounting to $800 million,” adding that “this procedure was to ease the financial burden on Iraq.”

Saleh continued, “This decision was based on a proposal by the Canadian government being a member of the Paris Club creditor nations, as well as being one of the seven countries of the group (G7)”.

Prime Minister Economic Affairs Advisor Mohammed Saleh said earlier that Iraq has fulfilled its obligations to creditors who appeared after 2003, whether they are governments or traders or businessmen on accordance with the Paris Club agreement, to pay 20% of the amounts owed to it in the form of payments for a waiver of those entities for 80%, or pay 10% in cash in exchange for ceding 90%.”

The policies pursued by the previous regime burdened Iraq’s debt, which is tens of billions, despite trust still extinguishing a lot of countries the consequences.

Sotaliraq

Formation of a working group with government agencies to follow up on the general budget expenses

bolani
National Iraqi News Agency / parliament’s committee of economy and investment announced the formation of a working group with the executive authorities to reconsider the economic policy of the State and budget expenditures in accordance with the current data.

Committee Chairman Jawad al-Bolani told the National Iraqi News Agency / NINA / “The Finance Ministry turned a blind eye to report periodically on objects of expenditure in the budget every 90 days, as opposed to what has been agreed upon with the debate and approval of the General Budget Law in the parliament.”

“The report includes aspects of the rationalization of government spending and pressure on operating expenses, increase local revenues, stimulate industry, agricultural loans and housing initiatives.”

“The parliamentary committee is setting up a team comprising members of the Financial, Economic Committees, representatives of the Ministry of Finance, the Central Bank, the Financial Inspection Office and other stakeholders,” noting that “the team will prepare a plan to deal with the economic challenges facing the country, to reconsider economic policies, to report the House of Representatives on the general budget includes a follow-up to aspects of exchange and the rationalization of government spending”.

National Iraqi News Agency