TNT – “Tidbits From TNT” Saturday 1-13-2024

CandyKisses:  Sudani and Barzani discuss resolving files and issues between the government and the region in accordance with the constitution

{Politicy: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani received today, Saturday, the President of the Kurdistan Region of Iraq, Nechirvan Barzani and his accompanying delegation, while the two sides discussed mechanisms to further resolve files and issues between the government and the region in accordance with the Constitution.

The Sudanese Media Office said in a statement received by {Al-Furat News}, that “the meeting witnessed the discussion of all issues and files at the national level, the latest security and political developments in the region, and the emphasis on Iraq’s firm and principled positions on the challenges facing the sustainability of stability, and the absolute concern for the sovereignty of Iraq under various circumstances.”

During the meeting, they also discussed mechanisms to further resolve files and issues between the federal government and the regional government in accordance with the Constitution, in order to ensure that citizens in the governorates of the region are spared any harm or bear the consequences of the challenges in the administrative, financial and economic files.

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CandyKisses:  Sudani: We have embarked on the path of radical reforms that touch long-term needs

Baghdad Today – Baghdad

The Prime Minister, Mohamed Shia Al-Sudani, confirmed on Saturday (January 13, 2024) that the government has followed the path of radical reforms and aimed to confront the waste of public money.

Al-Sudani said, while attending the memorial ceremony on the occasion of the anniversary of the martyrdom of Muhammad Baqir al-Hakim: “We are determined to walk the path of reconstruction and reform and to improve the standard of living and service.”

He added: “We raise high the memory of the martyrs by preserving the security and stability achieved,” stressing that “the experience of the Mujahideen and martyrs has taught us the importance of solidarity on fateful issues.”

“The government has launched its program, which includes a vision for the future of a united, strong and independent Iraq,” he said, adding: “We have taken the path of radical reforms and aimed to confront the waste of public money.”

“We have set our sights on infrastructure in the economy, services, financial and banking infrastructure.”

On the war on Palestine, the Prime Minister said: “We remember with pride the martyrs of the Palestinian people who are fighting the brutal killing machine,” stressing that “a nation that does not respect its martyrs will not be secure tomorrow for the steps it has gained and the progress it has achieved.”

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CandyKisses:  Finance Discusses With Ernst & Young The Organization And Restructuring Of The Ministry’s Banks And Companies

Earth News/ Today, Friday, the Ministry of Finance discussed with the international auditing firm (Ernst & Young) the organization and restructuring of the ministry’s banks and companies.

A statement from the ministry, which was received by Earth News, stated, “Minister of Finance, Taif Sami Muhammad, chaired an expanded meeting with representatives of the international company Ernst & Young, which specializes in auditing and financial consulting, in the presence of the general directors of the Rafidain and Rasheed banks, the Agricultural, Industrial and Real Estate Bank, and the national and Iraqi insurance companies, in order to determine a work plan and proceed.” “With steps to merge and organize a number of the ministry’s institutions and restructure them in line with the objectives of the ministry’s financial and banking sector reform policy.”

He added, “The meeting discussed the draft submitted by Ernst & Young regarding the organization and restructuring of the Rafidain and Rasheed banks and the merger of the National and Iraqi Insurance companies, and discussed the proposed plan and implementation stages and determined the frameworks of the contract and drafted them in a manner consistent with the priorities of reform and development, as well as discussing the study submitted by the company and diagnosing Obstacles to transformation, financial and legal solutions and treatments that ensure the integrity of the merger and structuring process.”

The Minister of Finance explained that “the Ministry has a program to restructure government banks and is working on it in cooperation with the Central Bank of Iraq and the relevant international organizations,” adding that “the process of merging, structuring, and introducing modern financial technologies will push towards making Iraqi banks internationally and locally accepted and responsible for providing services to the system.” Government finance and individuals simultaneously, determining the roles of banks and subcommittees, and determining contract durations.” 

Sami added, “The Ministry’s vision includes a comprehensive review and evaluation of the work of banks, and carrying out structural administrative reforms, which include providing a package of integrated banking services to citizens and companies and making them more consistent with the national economy that supports achieving sustainable economic development.”

The Minister of Finance stressed “the necessity of benefiting from the expertise of reputable international companies, which can play an effective and essential role due to their expertise and consultations in charting the correct path for the projects implemented by the Ministry in accordance with its financial policy that conforms to international standards and specifications.”

It is worth noting that Ernst & Young is considered one of the leading international companies, possessing extensive experience and achievements in this field to regulate the work of financial institutions, and has a solid professional history through its review of many central banks, commercial banks, and major companies in the region and the world.