Home
[size=24]"Iraq Budget and Banking News and Views" from KTFA Members 1-24-19
1/24/2019Go to Comments[/size]
KTFA:
Don961: $ 111 billion Iraq budget in 2019
- 7 Hours Ago
The Iraqi Council of Representatives voted Thursday on the budget for the year 2019, which rose by 45 percent from last year, including the re-share of the Kurdistan region, which is autonomous.
The budget amounted to 111.8 billion dollars with revenues rely mainly on oil exports at 3.9 million barrels per day, including 250 thousand barrels of fields in the Kurdistan region, the price of selling $ 56 per barrel, while the price of a barrel of oil in the market is currently $ 63. link
GodsServant: KTFA I can't hear you Yelling......................Budget approved in Billions ........................Cue Amazing Grace
MilitiaMan: Amazing isn't it.. lol ~MM
....
General: but dollars not dinars?.......
Jay: I would be excited if this said 111 billion DINARS. It says dollars ($). Not what we want. Not worth getting excited about. Staying grounded for the end of the 30 days. All imo only.
MilitiaMan: Once they drop three zeros, as we expect, the Trillions become Billions. How they report it is gray area. Until they go live, assume trillions, but if they muddy the water on purpose, it is for a purpose.. imo ~ MM
**************
Daytrader: IMO, this budget was passed in IQD, and then sometimes quoted in equivalent USD. This is the official statement Delta brought in from the Parliament site.
DELTA: THE HOUSE OF REPRESENTATIVES VOTES ON BUDGET LAW OF 2019..
The House of Representatives voted in its 28th session held under the chairmanship of Mr. Mohamed Halboussi, Speaker of the House of Representatives on Wednesday, 23/1/2019, in the presence of 287 deputies, the Federal Budget Law of the Republic of Iraq for the fiscal year 2019.
At the beginning of the session, the Board voted against the approval of the appeals submitted by Ms. Amal Al Marai Hassan Al Bayati on the health of MP Jassim Hussein Mohammad Jabara, Mr. Bassim Khazal Khashan on the health of MP Refah Khudair Jiyat and Mr. Mohamed Farman on the health of MP Siham Abbas Ali, and Ms. Shaalan Abdul Jabbar al-Karim regarding the health of the membership of MP Ali al-Sjeri.
The President of the Council called upon the ladies and gentlemen of the appeals or those affected, to resort to the Federal Court.
Mr. Ali Jassem Mohammed Khalifa was sworn in as a member of the House of Representatives, replacing Mr. Abdul Hussein Abtan, who resigned.
On another matter, the Council voted on the draft federal budget law of the Republic of Iraq for fiscal year 2019.
The revenue of the federal budget for the year 2019 (one hundred and five trillion five hundred and sixty-nine billion six hundred and eighty-six million and eight hundred and seventy thousand dinars) and the calculation of revenues from the export of crude oil at a rate of $ 56 per barrel and an export rate of 38.8 million barrels per day.
The expenditure in the draft law included the allocation of one hundred and thirty-three trillion and one hundred and seven billion six hundred and sixteen million and four hundred and twelve thousand dinars, while the total deficit planned for the federal budget (twenty-seven trillion and five hundred and thirty-seven billion nine hundred and twenty-nine million and five hundred and forty-two thousand Dinar).
For his part, stressed the President of the House of Representatives on the importance of the legislation of the financial budget for the year 2019 for its role in achieving development and serve the people, and expressed thanks for the efforts made by the members of the Finance Committee through a series of intensive meetings to prepare the draft federal budget law and take the remarks of Ladies and Gentlemen MPs in addition to Coordination with the Office of the Prime Minister and various State institutions in this regard.
After that, the presidency of the Council postponed the vote on the completion of the government cab for the quorum.
President Halabousi decided not to agree to proceed with the completion of the cabinet cabin only in the presence of Mr. Adel Abdul Mahdi, Prime Minister to view the remaining ministers
Then decided to hold the meeting on Thursday 24/1/2019 after the end of the voting session on the budget law at two and a quarter am.
Department of Information
Iraqi Council of Representatives
24/1/2019
http://ar.parliament.iq/2019/0
Popeye7: IMO, having the sense of urgency to pass the budget as they did this year is very significant... All of their ducks are in order.. Some may argue about Iraq not having their cabinet positions full, thus not fully secure, but we know that PM Mahdi is going to fill in for the time being in proxy mode... So with that being said, the ducks are in order, and we are in a fantastic position right now...
Don961: Iraqi exchange companies hold their first conference
Wednesday 23 January 2019
Baghdad / follow-up
Iraqi banking companies organized their first conference under the auspices of the Governor of the Central Bank of Iraq, in cooperation with the Arab Union for Arbitration and Settlement of Economic and Investment Disputes, Branch of the Republic of Iraq and the Service Establishment of Iraqi Companies, In Baghdad.
And the presence of the Governor of the Central Bank and some members of the Iraqi Council of Representatives and the Director General of the Banking Department in the Central Bank and the Executive Chairman of the Arab Union for Arbitration and Settlement and the President of the service institution and a large number of owners of Iraqi exchange companies.
Economic directives
Governor of the Central Bank d. Ali Alaq said: "The banking sector in Iraq is growing and growing and expanding to expand the base of different economic directives, especially that the exchange companies are an important part of the banking process through the great work carried out by these companies in the country, and is the largest companies now at the level of exchange companies in Countries of the world, "pointing to" the importance of these companies and their role and the nature of the economy in the country. "
Companies merger
The conference included a discussion and put forward views and proposals on the call of the Central Bank in his book No. 361/9/5 dated 5 October, calling for the merger of companies Altosit selling and buying foreign currencies, and support the exchange rate Iraqi dinar and financial stability and reduce the imposition of risk transfer in the best presentation Services and financial instruments, as well as the development of alternatives aimed at raising the level of exchange and responsibility for integration and its impact on the financial sector.
economic stability
The role of the central bank, which aims to maintain stability of the exchange rate and is the goal of achieving stability in real and is the essence of monetary policy to achieve economic stability in the country, while the exchange companies play an important role in this framework and any imbalance occurs and lead to the contrary, especially as the central bank continues to develop These companies make them close to the pace of developments in the world by taking steps is a pool of expertise capable of keeping abreast of continuous updates and benefit from them, and parallel to financial institutions.
Discuss challenges
"The conference discussed with transparency all the challenges facing the work of banking companies, and in the presence of the governor. This can be described positively as the challenges and means of developing performance are discussed directly without any intermediary, which made the owners of companies interact with the program. The conference, and put forward all the views that serve the financial sector and the development of sound performance in this important sector. " link
Sheila: What an article... the Iraqi Governor is present. Iraqi banking companies organized their first conference under the auspices of the Governor of the Central Bank of Iraq, in cooperation with the Arab Union for Arbitration and Settlement of Economic and Investment Disputes, Branch of the Republic of Iraq and the Service Establishment of Iraqi Companies, In Baghdad.
MilitiaMan: Sheila, what is just as inspiring as to what you point out, is the exchange companies are at a level to that of the largest companies in the world. Well they would have direct access to the Forex.. So this is imo telling us they have shown us they are ready to hit the pavement running on all cylinders, hoping for at least 4 of em... lol ` imo ~MM...
https://en.wikipedia.org/wiki/Foreign_exchange_company
A non-bank foreign exchange company also known as foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies. The term is typically used for currency exchange companies that offer physical delivery rather than speculative trading. i.e., there is a physical delivery of currency to a bank account.
Foreign exchange companies are normally distinct from money transfer companies or remittance companies and bureaux de change as they typically perform high-value transfers unlike their money transfer counterparts that focus on high-volume low-value transfers generally by economic migrants back to their home country or to provide cash for travelers. Transactions can be either spot transactions or forward transactions."
Don961: $ 111 billion Iraq budget in 2019
- 7 Hours Ago
The Iraqi Council of Representatives voted Thursday on the budget for the year 2019, which rose by 45 percent from last year, including the re-share of the Kurdistan region, which is autonomous.
The budget amounted to 111.8 billion dollars with revenues rely mainly on oil exports at 3.9 million barrels per day, including 250 thousand barrels of fields in the Kurdistan region, the price of selling $ 56 per barrel, while the price of a barrel of oil in the market is currently $ 63. link
GodsServant: KTFA I can't hear you Yelling......................Budget approved in Billions ........................Cue Amazing Grace
MilitiaMan: Amazing isn't it.. lol ~MM
....
General: but dollars not dinars?.......
Jay: I would be excited if this said 111 billion DINARS. It says dollars ($). Not what we want. Not worth getting excited about. Staying grounded for the end of the 30 days. All imo only.
MilitiaMan: Once they drop three zeros, as we expect, the Trillions become Billions. How they report it is gray area. Until they go live, assume trillions, but if they muddy the water on purpose, it is for a purpose.. imo ~ MM
**************
Daytrader: IMO, this budget was passed in IQD, and then sometimes quoted in equivalent USD. This is the official statement Delta brought in from the Parliament site.
DELTA: THE HOUSE OF REPRESENTATIVES VOTES ON BUDGET LAW OF 2019..
The House of Representatives voted in its 28th session held under the chairmanship of Mr. Mohamed Halboussi, Speaker of the House of Representatives on Wednesday, 23/1/2019, in the presence of 287 deputies, the Federal Budget Law of the Republic of Iraq for the fiscal year 2019.
At the beginning of the session, the Board voted against the approval of the appeals submitted by Ms. Amal Al Marai Hassan Al Bayati on the health of MP Jassim Hussein Mohammad Jabara, Mr. Bassim Khazal Khashan on the health of MP Refah Khudair Jiyat and Mr. Mohamed Farman on the health of MP Siham Abbas Ali, and Ms. Shaalan Abdul Jabbar al-Karim regarding the health of the membership of MP Ali al-Sjeri.
The President of the Council called upon the ladies and gentlemen of the appeals or those affected, to resort to the Federal Court.
Mr. Ali Jassem Mohammed Khalifa was sworn in as a member of the House of Representatives, replacing Mr. Abdul Hussein Abtan, who resigned.
On another matter, the Council voted on the draft federal budget law of the Republic of Iraq for fiscal year 2019.
The revenue of the federal budget for the year 2019 (one hundred and five trillion five hundred and sixty-nine billion six hundred and eighty-six million and eight hundred and seventy thousand dinars) and the calculation of revenues from the export of crude oil at a rate of $ 56 per barrel and an export rate of 38.8 million barrels per day.
The expenditure in the draft law included the allocation of one hundred and thirty-three trillion and one hundred and seven billion six hundred and sixteen million and four hundred and twelve thousand dinars, while the total deficit planned for the federal budget (twenty-seven trillion and five hundred and thirty-seven billion nine hundred and twenty-nine million and five hundred and forty-two thousand Dinar).
For his part, stressed the President of the House of Representatives on the importance of the legislation of the financial budget for the year 2019 for its role in achieving development and serve the people, and expressed thanks for the efforts made by the members of the Finance Committee through a series of intensive meetings to prepare the draft federal budget law and take the remarks of Ladies and Gentlemen MPs in addition to Coordination with the Office of the Prime Minister and various State institutions in this regard.
After that, the presidency of the Council postponed the vote on the completion of the government cab for the quorum.
President Halabousi decided not to agree to proceed with the completion of the cabinet cabin only in the presence of Mr. Adel Abdul Mahdi, Prime Minister to view the remaining ministers
Then decided to hold the meeting on Thursday 24/1/2019 after the end of the voting session on the budget law at two and a quarter am.
Department of Information
Iraqi Council of Representatives
24/1/2019
http://ar.parliament.iq/2019/0
Popeye7: IMO, having the sense of urgency to pass the budget as they did this year is very significant... All of their ducks are in order.. Some may argue about Iraq not having their cabinet positions full, thus not fully secure, but we know that PM Mahdi is going to fill in for the time being in proxy mode... So with that being said, the ducks are in order, and we are in a fantastic position right now...
Don961: Iraqi exchange companies hold their first conference
Wednesday 23 January 2019
Baghdad / follow-up
Iraqi banking companies organized their first conference under the auspices of the Governor of the Central Bank of Iraq, in cooperation with the Arab Union for Arbitration and Settlement of Economic and Investment Disputes, Branch of the Republic of Iraq and the Service Establishment of Iraqi Companies, In Baghdad.
And the presence of the Governor of the Central Bank and some members of the Iraqi Council of Representatives and the Director General of the Banking Department in the Central Bank and the Executive Chairman of the Arab Union for Arbitration and Settlement and the President of the service institution and a large number of owners of Iraqi exchange companies.
Economic directives
Governor of the Central Bank d. Ali Alaq said: "The banking sector in Iraq is growing and growing and expanding to expand the base of different economic directives, especially that the exchange companies are an important part of the banking process through the great work carried out by these companies in the country, and is the largest companies now at the level of exchange companies in Countries of the world, "pointing to" the importance of these companies and their role and the nature of the economy in the country. "
Companies merger
The conference included a discussion and put forward views and proposals on the call of the Central Bank in his book No. 361/9/5 dated 5 October, calling for the merger of companies Altosit selling and buying foreign currencies, and support the exchange rate Iraqi dinar and financial stability and reduce the imposition of risk transfer in the best presentation Services and financial instruments, as well as the development of alternatives aimed at raising the level of exchange and responsibility for integration and its impact on the financial sector.
economic stability
The role of the central bank, which aims to maintain stability of the exchange rate and is the goal of achieving stability in real and is the essence of monetary policy to achieve economic stability in the country, while the exchange companies play an important role in this framework and any imbalance occurs and lead to the contrary, especially as the central bank continues to develop These companies make them close to the pace of developments in the world by taking steps is a pool of expertise capable of keeping abreast of continuous updates and benefit from them, and parallel to financial institutions.
Discuss challenges
"The conference discussed with transparency all the challenges facing the work of banking companies, and in the presence of the governor. This can be described positively as the challenges and means of developing performance are discussed directly without any intermediary, which made the owners of companies interact with the program. The conference, and put forward all the views that serve the financial sector and the development of sound performance in this important sector. " link
Sheila: What an article... the Iraqi Governor is present. Iraqi banking companies organized their first conference under the auspices of the Governor of the Central Bank of Iraq, in cooperation with the Arab Union for Arbitration and Settlement of Economic and Investment Disputes, Branch of the Republic of Iraq and the Service Establishment of Iraqi Companies, In Baghdad.
MilitiaMan: Sheila, what is just as inspiring as to what you point out, is the exchange companies are at a level to that of the largest companies in the world. Well they would have direct access to the Forex.. So this is imo telling us they have shown us they are ready to hit the pavement running on all cylinders, hoping for at least 4 of em... lol ` imo ~MM...
https://en.wikipedia.org/wiki/Foreign_exchange_company
A non-bank foreign exchange company also known as foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies. The term is typically used for currency exchange companies that offer physical delivery rather than speculative trading. i.e., there is a physical delivery of currency to a bank account.
Foreign exchange companies are normally distinct from money transfer companies or remittance companies and bureaux de change as they typically perform high-value transfers unlike their money transfer counterparts that focus on high-volume low-value transfers generally by economic migrants back to their home country or to provide cash for travelers. Transactions can be either spot transactions or forward transactions."
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
» A leader in the National Bank: We are committed to the federal decision and to postpone the election
» Al-Hakim: Iraq's future cannot be mortgaged to volatile oil prices
» The conflict of the corridors: the path to development from a historical perspective and the door to
» The Kurdistan Region demands that the federal government spend 1.1 billion dinars.. What is the reas
» Tomorrow, Iraq is preparing to launch a complementary round of gas licensing
» A government move to restore the funds of the Trade Bank of Iraq
» The Central Bank informs France of plans to restructure the banking sector
» A government advisor reveals the fate of the budget tables
» Iranian mediation between Baghdad and Erbil... Revealing the most prominent files of Raisi’s visit t
» Reconstruction and development is a priority.. A parliamentary committee follows up and monitors gov
» Al-Hakim comments on the agreements concluded with Türkiye and confirms: Iraq is on the right path
» Tomorrow... Iraq takes a step that will give it gas equivalent to 200% of imported Iranian gas
» A long and disturbing message.. The Iraqi government “blames” the United Nations because of “other p
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
» Economist: The fluctuation of the dollar is “the balance of speculators”
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
» A call to the Sudanese to remove American forces from Iraq
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
» The government is silent...the reality of removing American forces from Iraq
» The radiation protection law in the first session of the next legislative term
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
» The European Union and Iraq agree to increase cooperation between them
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
» Highlights of the Prime Minister's visit to Babylon
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
» It revealed the details of its contract with four companies to complete the census requirements... P
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
» Parliament decides to extend its legislative term by 30 days
» Iraq has the tenth worst economic growth in the world during the last 5 years
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
» It will change the reality of Iraqi banks.. Al-Alaq reveals a plan that enjoys Sudanese support
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
» MM&C 5/9/24 Customs, security and economic aspects
» Union of Arab Banks: Iraq's environment encourages investment
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
» The International Development Bank announces the opening of its new branch in Erbil
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
» Budget delay: the cry for help for paralyzed services and disrupted dreams
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
» Deputy: Extending the legislative term depends on sending the budget schedules
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
» Economist on the decline in dollar prices: My time and it will not reach its official price
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
» Turkish Minister of Transport: The development road will cost $20 billion
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
» Work: Preparing a unified national strategy to create job opportunities for youth
» The Prime Minister's financial advisor reduces the risks of the budget deficit
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
» Government Advisor: The Securities Commission represents the governance base for promoting financial
» A unified national strategy to create job opportunities for youth
» A one-week deadline to decide the position of Speaker of Parliament
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
» The Commission suspends the Kurdistan Parliament's voting procedures
» $100 million to localize the pharmaceutical industry
» Increase in external remittances at the Central Bank
» A government advisor reduces the risks of a budget deficit
» Culture: We seek to invest in the stability of the country to advance the tourism sector
» Integrity announces the results of a questionnaire on bribery in real estate registration department
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
» The dollar rises again against the Iraqi dinar in Baghdad
» Politician: The government does not deal transparently with the issue of expelling the Americans
» A government bank participating in an accounting project
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
» French Consul: France strengthens relations with the Kurdistan Region
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S