TNT – “Tidbits From TNT” Tuesday 12-5-2023


CandyKisses:  Central bank boosts tens of millions of euros as initial payment to cover imports from Turkey

Economy News – Baghdad

The central bank has boosted tens of millions of euros as an initial payment to cover imports from Turkey, a government source said on Tuesday.

“In implementation of the banking arrangements agreement made with Turkey during the past week, the Central Bank of Iraq has since last Sunday, December 3, strengthened tens of millions of euros as an initial payment,” the source said.

He added that “this aims to cover the imports of retailers from Turkey, through Iraqi traders paying in Iraqi dinars and the Central Bank’s reinforcement in euros to settle with Turkish traders in Turkish lira.”

Tishwash:  Al-Rasheed Bank temporarily suspends the promotion of advances and loans

Al-Rasheed Bank announced today, Tuesday, the suspension of promotion and loans in all its bank branches at the present time for the purposes of the application applicable annually.

In a statement to Shafaq News Agency, the bank warned against promoting some pages on the social networking site by granting advances and loans and exploiting and stealing from citizens.

The bank confirmed that it will resume work on loans in 2024.  link 


Tishwash:  Under the patronage of the Prime Minister, the conference on reforming the tax system in Iraq will start tomorrow

 At nine o’clock tomorrow morning, Wednesday, Baghdad will witness the launch of the conference on reforming the tax system in Iraq, under the auspices of Prime Minister Muhammad Shiaa Al-Sudani, and under the slogan (Towards a transparent and fair tax system).

The conference’s main topics will include tax policies, legislation, governance and automation, tax administration and accounting.

The conference aims to amend tax legislation that is not friendly to the business environment, develop tax administration and the skills of its employees to raise the level of tax performance, correct defects in the tax work environment in a way that serves the process of economic development, achieve tax justice and reduce the tax burden on taxpayers, facilitate tax procedures and adopt tax governance.

And reconsidering tax and customs policies in Iraq in light of the market economy, strengthening Iraq’s position in international classifications in the field of tax work, and spreading a tax culture among those charged with paying taxes by reflecting tax revenues by providing good services and creating investments that contribute to providing job opportunities that generate sustainable income.

During which 12 winning papers will be discussed, specializing in several topics, out of 40 papers submitted by governmental and academic bodies, private sector companies, and international organizations  link


Tishwash:  Revealing the number of stalled laws in the House of Representatives

The legal advisor to the House of Representatives, Hatef Al-Rikabi, revealed that 170 laws were broken within Parliament.

Al-Rikabi said in a press statement, “The first and second sessions and the first half of the third session were full of legal legislation, whether from the legislative or supervisory side, in addition to the presence of many hosting and interrogations, as a result of which many ministers were dismissed.”

He pointed out, “The second half of the third session and what followed witnessed a state of collapse in terms of legislation and oversight, and the sessions turned into completely obstructing and excluding the oversight aspect. Consequently, Parliament during that period became a burden on the work of the executive authority, and clearly failed.”

He explained, “Parliament did not legislate any laws during that period (the third and fourth sessions), and consequently the bylaws were violated several times, and committees were split without referring to a vote, and new committees were also established without a vote, and problems arose in the status of the parliament’s presidencies as well.” About the disruption of some committees that have not been settled yet.”

Al-Rikabi continued, “There was no legislation for any important law in (last year 2022), and only one law was proposed by Parliament and put in place by the government, which is (the Food Security Law), which was rejected by the Federal Court.”  link