Iraq postpones the application of a single customs declaration at ports

A border crossing in Iraq – archive May 31, 2021 07:57 PM

Mubasher: The Border Ports Authority in Iraq decided today, Monday, to wait for the application of a single customs declaration, and also discussed the proposal to open the Jamima port in the Muthanna governorate with the Kingdom of Saudi Arabia .

The media of the Border Ports Authority said, in a statement, that the head of the authority, Omar Adnan Al-Waeli, chaired the fifth meeting of the authority’s council, which includes in its membership representatives of the ministries, authorities and governorates concerned with border crossings to discuss its agenda, which included topics for organizing work at border crossings.

The letter of the General Secretariat of the Council of Ministers was discussed by the Diwani Order Committee 47S for the year 2021 regarding “one customs declaration for each container in the ports” and the members of the Council voted unanimously to wait at the present time from implementing the decision due to the current economic situation.

The General Company for Iraqi Ports will work at a faster pace to complete the major reception yard in the ports, while obligating all departments operating at the border ports to work on the electronic platform prepared by the Border Ports Authority in cooperation with the General Company for Iraqi Ports, according to the statement.

The authority stated that the agenda included discussing the topics proposed to be presented at the upcoming meeting of the Anti-Corruption Academy and assessing the reality of border crossings, which will be evaluated by the Integrity Commission on 6/8/2021 to work on discussing the development and reconstruction of infrastructure and the provision of municipal and health services at border crossings.

The authority discussed a proposal to open the Jamima border crossing with Saudi Arabia

She added that the meeting included a proposal to open the Jamima port in Al-Muthanna governorate with the Kingdom of Saudi Arabia to activate trade exchange, advance the economic reality and employ manpower for the people of the governorate.

The authority indicated that the opening of the port will be preceded by the formation of a committee of council members to present an extensive study on the feasibility of opening the border crossing, provided that its study will be presented at the next meeting of the authority’s council.

And she indicated that the meeting dealt with the General Authority of Customs to follow up the investigative procedures with the joint committees with the Ports Authority after detecting violations by the authority.

The agenda had a paragraph dealing with securing protection and security for Basra International Airport .

Minister of Oil: Iraq seeks to provide investment opportunities in the gas and clean energy sectors

Iraqi Oil Minister May 31, 2021 06:22 PM

Riyadh – Mubasher: Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail confirmed today, Monday, that Iraq is seeking to provide new investment opportunities in the gas and clean energy sectors.

According to the statement of the media office of the Ministry of Oil, the minister received the first vice president of ExxonMobil, and stressed during the meeting the keenness to strengthen cooperation relations with reputable international companies, including ExxonMobil.

Tom Schusler, Senior Vice President of Exxon Mobil Corporation, expressed his “hope to increase the volume of bilateral cooperation in many areas, including the energy and infrastructure sector.”

Disclosure – Ashur International Bank has provided the annual financial statements for the year 2020

 May 31, 2021 3:48 PM48AshurBASH0.00%0.430.00 Ashur Annual Financial Statements 2020 لشركة

Implementation of a special order on the shares of the National Bank of Iraq in Monday’s session 31/5/2021

 May 31, 2021 3:48 PM48National BankBNOI3.81%1.090.04 Implementation of a special order on the shares of the National Bank of Iraq Company in Monday’s session 05/31/2021

After the decision to withdraw from Iraq .. Vice President of Exxon Mobil in Baghdad

oil fieldenergy

Economy News – Baghdad

Exxon Mobil Corporation announced its desire to increase the volume of bilateral cooperation in the field of energy with Iraq, although it decided to exit Iraq by selling its share in the West Qurna 1 field. 

The Ministry of Oil said in a press statement seen by “Economy News”, that Oil Minister Ihsan Abdul-Jabbar met today, Monday, the First Vice President of Exxon Mobil Corporation. 

The Minister of Oil, Ihsan Abdul-Jabbar Ismail, confirmed that Iraq seeks to provide new investment opportunities in the gas and clean energy sectors .

Ismail added, “Iraq seeks to provide new investment opportunities in the gas and clean energy sectors, which are now considered one of the priorities of the ministry, expressing his hope that the current and future phase will witness more implementation of such projects that enhance opportunities for sustainable development for Iraq.”

Meanwhile, the First Vice President of ExxonMobil expressed his hope “to increase the volume of bilateral cooperation in many areas, including the energy and infrastructure sector.”

The press release issued by the Ministry of Oil did not mention any details about the sale of Exxon Mobil’s share, especially in light of a Chinese desire to buy the stake.

And the Minister of Oil, Ihsan Abdul-Jabbar, said in a press conference held on May 3, 2021, that the ministry was discussing the acquisition of Basra Oil on “Exxon’s share in West Qurna 1 and the leadership of the project, as happened with Majnoon.”

Iraq said last month that ExxonMobil wanted to sell 32.7 percent of the West Qurna 1 field, and that the Oil Ministry had begun discussions with US oil companies about a possible deal .

Al-Rafidain launches a new batch of employee ancestors and members of the security forces

Rafidain Bank logo.Banks

Economy News – Baghdad

Rafidain Bank announced, on Monday, the launch of a new batch of advances for employees and members of the security forces.

The bank’s media office said in a statement seen by “Al-Iqtisad News”, that “a new batch of predecessors for employees and members of the security forces was launched.”

He added that “the bank continues to grant advances through the bank’s branches located in Baghdad and the provinces.”

It is noteworthy that the Rafidain Bank, earlier, began granting loans and advances to employees and citizens, according to certain conditions and controls.

Mazhar Saleh: Iraq’s monetary policy will maintain the stability of the exchange rate

2021/05/31 22:15

  • The number of readings 90
  • Section : Iraq

Baghdad / Obelisk: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, May 31, 2021, that Iraq’s monetary policy will maintain the stability of the exchange rate, while noting that the current account of the balance of payments is free of deficit, but rather there is an expectation of a surplus in the future.

Saleh said in a press interview followed by “The Obelisk”, that the reduction of the national currency against the dollar was based on a one-time decision, and that the country adopts a fixed exchange system, stressing that there is an equation between the theory of exchange rate adjustment and the deficit in the current account of the balance of payments relative to GDP. .

He added, that whenever the deficit increases by 4% or more, an adjustment or reduction is made in the external value of the currency to avoid a deterioration in external payments, pointing out that Iraq currently does not suffer from a current account deficit, but rather there is stability and balance, expecting that there will be a surplus in the future. Relative to the gross domestic product, in light of the positive developments in the oil markets and the positive improvement in Iraq’s foreign exchange reserves.

He stressed that monetary policy will maintain the stability of the exchange rate in the present circumstance.

On December 20, the Central Bank of Iraq decided to reduce the value of the Iraqi dinar against the dollar, bringing the price of 100 dollars to 145 thousand dinars, after it was 122 thousand Iraqi dinars.

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The International Coalition hands over $3 million worth of equipment and weapons to Iraqi forces (photos)

2021.05.31 – 21:35

Baghdad – people  

On Monday, the Security Media Cell announced that the Ministry of Interior had received ammunition and weapons from the international coalition forces, with a value of nearly $3 million.  

The “people” channel on Telegram … our last updates, always  

And the cell stated in a statement, of which “Nass” received a copy, (May 31, 2021), that “the Training and Equipment Fund Program to combat ISIS terrorist gangs continues to support the Iraqi security forces, as the Iraqi Ministry of Interior / the headquarters of the Counter-Terrorism Directorate in the Ministry has received ammunition and weapons Which is estimated at 2930410 US dollars (approximately 3 million US dollars) from the international coalition forces.  

He added that “the program has been implemented since 2014 to support the Iraqi government and the efforts of its security services, to eliminate ISIS terrorist gangs.”

Baghdad and Erbil express their readiness to implement the terms of the 2021 budget

PoliticsErbilBaghdadThe budget 2021-05-31 13:24A-AA +

Shafaq News/ The federal and Kurdistan governments expressed, on Monday, their readiness to implement the provisions of the financial budget for the current year 2021.

This came in a meeting between the Minister of Finance of the Kurdistan Region, Awat Sheikh Janab, with the Federal Minister of Finance, Ali Allawi, in the capital, Baghdad, according to a statement issued by the finance of the region received by Shafaq News.

The statement stated that the two sides discussed “the mechanism for implementing the federal budget law for the current year and what is the responsibility of the Federal Ministry of Finance and the Kurdistan Regional Government.”

According to the statement, the two sides expressed their readiness to implement the law.

This meeting comes within the framework of the visit started on Sunday by a delegation representing the Kurdistan Regional Government headed by Deputy Prime Minister Qubad Talabani, to discuss the implementation of the financial budget items.

The delegation is expected to hold talks with the Federal Ministry of Oil to discuss the oil file and prepare a joint report to be delivered to the Federal Ministry of Finance. 

In early February, the Iraqi parliament approved the country’s financial budget for the current year, with a total expenditure of 129 trillion dinars, and a deficit of 28 trillion.

The budget also stipulated that the Kurdistan Region would deliver 250 thousand barrels of oil per day, in addition to half of Baghdad’s other financial revenues, in return for an estimated share of 12.6 percent of the budget.

The Kurdistan Regional Government hopes to start implementing the budget items to resume the budget payments that have been suspended for nearly a year, including the salaries of the region’s employees.


Monday, May 31, 2021 6:12 PM


Private / National News Center 

Today, Monday, the World Bank in Iraq launched the Human Development Report (Iraq Public Expenditure Review).

The Bank discussed the government’s response to address deficiencies in human capital indicators within the framework of a roadmap towards structural reforms to reconsider the human development model in the education and health sectors in Iraq.

The President of the World Bank in Iraq, Ramzi Numan, said in a statement to the “National News Center” on the sidelines of the forum launching the report that “the report launched by the World Bank today sheds light on public spending indicators in the fields of human development, specifically in the fields of education, health and social protection.” , Adding that “the seriousness of the issue enables that the indicators that are viewed by the World Bank are low indicators in these sectors, especially that Iraq had important indicators in previous years.”

Numan pointed out that “the report focused on the public spending side, especially since the previous budgets allocated to these sectors are very low if compared to the budgets of other important sectors, but we are looking forward to developing important sectors related to the future.”

He stressed that “solutions cannot be focused on a specific sector only, but there must be an integrated process, 
wondering what is happening with the issue of public spending on salaries, how can we reduce that and give budgets to other sectors in order to improve the private sector, increase investments and stimulate the environment for the private sector.”

Numan revealed “a set of reform matters that allow strengthening these sectors and improving the reality of spending on them, as well as the existence of a strategic direction at the state level in the issue of spending and reform and a practical and technical direction at the level of other sectors.”

He noted that “the report also discussed aspects of public spending on vital human development sectors and the Iraqi government’s response to address deficiencies in the formation of human capital, as well as a roadmap towards structural reforms to reconsider the human development model.”

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