KFTA – Some “Wednesday News” Posted by Clare at KTFA 11-8-2023

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Clare:  The Ministry of Interior is in the process of opening sites for the national card and electronic passport in countries around the world

11/8/2023  Baghdad

The Minister of Interior, Abdul Amir Al-Shammari, confirmed on Wednesday that the ministry is working to open new sites for the national card and the electronic passport in a number of countries around the world.

Al-Shammari’s media office stated in a statement received by Al-Eqtisad News, “Minister of Interior, Abdul Amir Al-Shammari, participated in the seventh ambassadors’ conference, which included a dialogue seminar on (the consular services session), where discussion and dialogue took place regarding the joint work strategy between the Ministries of Interior and Foreign Affairs.” .

Al-Shammari stressed, according to the statement, “The Ministry of Interior always seeks to provide the best services to the Iraqi community by opening new sites for the national card and the electronic passport in a number of countries around the world, to facilitate the granting of documents.”

He pointed out that “the Ministry is working on an electronic entry visa (visa) project that will solve many of the obstacles facing the work of Iraqi missions abroad.”  LINK

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Clare: The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions (document)

11/8/2023

The Central Bank of Iraq decided, on Wednesday, to allow Iraqi banks to import foreign exchange according to 5 conditions.

It was stated in a letter sent by the Central Bank of Iraq to the licensed banks and obtained by Shafaq News Agency, “Based on the requests received to the bank, and in order to provide the required flexibility to banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: –

1- The amounts will be used for the purposes of meeting Ziyankum’s requests from duly registered companies, organizations and bodies, and individuals working for foreign companies or institutions who receive incoming remittances from outside Iraq.

2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.

3- Payments must be entered exclusively through air ports.

4- Your commitment to register the serial numbers of these shipments and provide the Banking Control Department with them and the data of their recipients later.

5- Providing the Central Bank with the name of the foreign shipping company along with a copy of the license granted to it in its country.

The Central Bank of Iraq confirmed its continued provision of foreign currency to meet customer requirements and in accordance with instructions and controls in this regard. LINK

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Clare:  America says it is following the resumption of Kurdistan oil exports and the draft oil and gas law

11/7/2023

The Ministry of Natural Resources in the Kurdistan Regional Government announced, on Tuesday, that an American diplomatic delegation confirmed that Washington is closely following the process of resuming oil exports through the region’s pipeline to Turkey and legislating the oil and gas law. 

A statement from the ministry, received by Shafaq News Agency, said that the Kurdistan Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today, Tuesday, the American Consul General in Erbil, Mark Straw, pointing out that the new American Consul expressed his pleasure to invest in the electricity, energy and oil sector.   

The statement indicated that the American consul confirmed regarding the issue of resuming oil exports (via the region’s pipeline to the Turkish port of Ceyhan) and the issuance of the draft federal oil and gas law that his country is closely following the process of resuming the region’s oil exports, indicating that Washington knows that suspending exports has negative effects on the region’s oil exports. Revenues of the region and its public sector. 

Straw added, according to the statement, that addressing the revenue problem and approving the oil and gas law are among the priorities of his country’s policy and programs. 

The statement indicated that Minister Saleh expressed his thanks for America’s role in giving importance to efforts to resume the region’s oil exports, follow up on addressing oil and gas problems, expand investment, and approve the federal oil and gas law with the participation of the Kurdistan Region.   LINK

Clare: Parliamentary Finance calls for an emergency session regarding the rise in the dollar… and warns strongly of its repercussions

11/7/2023

The Parliamentary Finance Committee called on the leaders of the political blocs to hold an emergency session of the House of Representatives regarding the rise in the price of the dollar against the Iraqi dinar.

Committee member Jamal Cougar said, in a press statement, that “there are many reasons for the rise in the dollar, including the failure to spend the budget in the required manner so that it is not exploited by the parties participating in the elections,” noting that “there is a will that wants to thwart the {SWIFT} system on the part of the influential parties.” What he said.

He pointed out that “other reasons are the many complications in the way of companies, investors, traders, and private sector people to obtain the dollar from the platform, in addition to the mafia’s control over the dollar platform through which it is spent.”

Koger pointed out “the political concern about the repercussions of the Gaza war on the entire region, and the Iraqi position on the events may lead in the future, if it engages in the conflict, to repercussions that may be more severe,” stressing that “the solution lies in disbursing the budget, providing very many facilities to investors, and simplifying government procedures to obtain the dollar.” In addition to striking mafias and limiting their influence and control over banks.”

The parliamentary finance member called for holding an emergency session in the presence of the leaders of the political blocs and specialists and informing them of the dangers of not implementing the SWIFT system and its repercussions on the political, economic, and even security and social dimensions. LINK

DCDriver:  they are actually talking about entering the swift system? Wow!!

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Clare: The government issues new instructions regarding the dollar exchange rate mechanism

11/7/2023 Information / Baghdad..

On Tuesday, the Council of Ministers held its forty-fifth regular session headed by Prime Minister Muhammad Shiaa Al-Sudani, while taking a set of decisions regarding the dollar price mechanism and maximizing the state’s imports.

The Office of the President of the Council stated in a statement received by “Al-Ma’louma” that, “In the course of government action to regulate financial transactions based on the dollar, the Council agreed to amend Paragraph (3) of Cabinet Resolution (23545 of 2023) regarding the dollar exchange rate mechanism, to become according to The following: With regard to Iraqi borrowers from government banks (including the Iraqi Trade Bank) in the US dollar currency, these banks are committed to repaying their loans at the official exchange rate (1,320 dinars) for every US dollar from the borrower, provided that the Central Bank of Iraq strengthens the banks’ accounts in dollars for transfer purposes. The external exchange rate, and at the official exchange rate, according to its need, and this procedure applies exclusively to loans that were disbursed before the issuance of this decision.

As part of the government’s efforts to combat corruption and recover stolen funds, the Council of Ministers agreed to “issue instructions to facilitate the implementation of the provisions of the Iraq Money Recovery Fund Law No. (9) of 2012, based on the provisions of the Constitution and Article (9) of the aforementioned law, taking into consideration the proposals.” set forth in the draft project submitted by the Iraq Assets Recovery Fund, and the notes of the Legal Department in the General Secretariat of the Council of Ministers.”

In the direction of working to maximize the state’s imports, the Ministry of Commerce was approved to sell (49,624,767) kg, or forty-nine thousand six hundred and twenty-four tons, and seven hundred and sixty-seven kg, of damaged wheat that is not suitable for animal consumption, and to export it outside the country for final disposal, provided that Its release shall be under the supervision and follow-up of the National Security Service, provided that the sale is made at public auction for export purposes, and that the price is determined by the Estimation Committee formed in accordance with the Law on the Sale and Rent of State Funds, in accordance with the procedures stipulated in Article (8) of this law, and the amount shall be transferred to The Public Treasury, according to Paragraph (3) of Cabinet Resolution (360 of 2022).”

The recommendation of the Ministerial Council for the Economy (230276 Q) was also approved as follows: Approval of what was stated in the letter of the Ministry of Agriculture dated October 5, 2023, regarding the sale of the remaining quantity of premix amounting to (1,113,955) kg, one thousand one hundred and thirteen tons and nine hundred and fifty-five. kg, belonging to the General Company for Agricultural Equipment, without public bidding; Because it is highly perishable, based on the provisions of the Law on the Sale and Rent of State Funds (21 of 2013), provided that the aforementioned ministry bears the financial and legal consequences and the accuracy of the information.” 

As well as “the Ministry of Agriculture’s scrutiny of the reasons for purchasing quantities greater than the actual need.”

The Council voted to “address the debts owed by the Ministries of Defense and Interior and the Popular Mobilization Authority, regarding medicines and medical supplies from the Ministry of Health/The General Company for Marketing Medicines and Medical Supplies (Kimadia), through coordination between the Ministry of Health and the relevant authorities, and providing the Ministry of Finance with what supports these debts.” The amount will be secured this year/2023, or next year/2024.”   LINK