TNT – “Tidbits From TNT” Tuesday 2-6-2024

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Tishwash:  An “intractable problem” prevents the oil and gas law from being removed from Parliament

Member of the Parliamentary Oil and Gas Committee, Ali Al-Lami, expected on Tuesday that the oil and gas law would not be approved in the current parliamentary session, indicating that the dispute over the law concerns the party responsible for managing the oil fields in Kurdistan.

Al-Lami told Shafaq News Agency, “The oil and gas law is one of the important laws, but it will not pass in the current parliamentary session, and this law will be transferred to the next parliamentary session, as it was transferred in previous sessions.”

He added, “There are many disagreements over the oil and gas law, including political disagreements and technical disagreements, and the most prominent of them is over the party that manages the oil fields in the Kurdistan Region and who exports the region’s oil abroad,” stressing that “this main disagreement has not been resolved and will not be resolved due to the deepening political disagreements regarding this is the law”.

Al-Lami continued: “The oil and gas law cannot be separated into two laws, one of which is concerned with oil and the other with gas, given that the gas comes out of the same oil fields, and the two laws cannot be separated, as the dispute is the same without a solution.”  link

Tishwash:  Al-Nusairi calls on the government and the Central Bank to protect the banking system from collapse

Today, Tuesday, the economic and banking advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, called on the government and the central bank to intervene to protect the banking system from collapse, while counting the number of private banks that are not practicing their commercial activities.

Al-Nusairi said in a televised interview followed by Al-Eqtisad News, “The government and the central bank must intervene to protect the banking system from collapse due to subjective and objective political influences and tensions and the US Treasury’s continued pressure on the Iraqi economy and harming it through previous sanctions and new restrictions to prevent it from conducting its transactions in the US dollar on Despite the efforts made by the Central Bank during 2023 in cooperation with the government and international banks to regulate foreign trade financing and with the Financial Action Organization.”

He added, “International organizations confirm in their evaluation reports on Iraq that it has applied standards for combating money laundering and terrorist financing. This means that our banks are strictly committed to international standards and are trying with great efforts to comply with the global system.”

Al-Nusairi explained, “The number of private banks that are no longer practicing all their banking activities has reached 32 commercial and Islamic banks, which constitute 50% of the volume of banking activity in Iraq. Therefore, this will destabilize confidence in the Iraqi banking sector locally and internationally, and thus will fail the plans for economic reform, and thus will harm our national economy.” “.

The Association’s advisor, the Prime Minister, and the Governor of the Central Bank, called for “intervention, in cooperation with the Ministry of Foreign Affairs, and conducting negotiations at the highest levels with the American side to remove our banks from the cycle of sanctions, deprivation, and restrictions on banking activity and for them to return to operating in full banking and Islamic activity while rehabilitating some banks in accordance with binding international standards.” link

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CandyKisses: Deputy: America is responsible for the crises of the dollar, oil, water and electric power

 Information / Baghdad.

On Tuesday, Firas al-Muslimawi, MP for the State of Law Coalition bloc, blamed the United States for causing a number of economic crises in Iraq, such as the rise in the dollar exchange rate, the oil crisis with Kurdistan and the water crisis .

Al-Muslimawi told Al-Maalouma that “Washington refuses to withdraw the Central Bank of Iraq its and is trying to impose more sanctions on private funds banks.”

He described this American behavior as “besieging Iraq and strangling it economically, noting that “the United States refuses to conclude contracts with international companies in the field of energy and services.”

Earlier, multiple political figures announced America’s refusal to contract Iraq with the German energy company Siemens to rehabilitate the electrical system in Iraq.

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CandyKisses:  Governorates that decided to suspend official working hours on Tuesday

Baghdad Today – Baghdad

Today, Monday (February 5, 2024), local governments in 7 governorates announced the suspension of official working hours for tomorrow, Tuesday, on the occasion of the anniversary of the martyrdom of Imam Musa Al-Kazim (peace be upon him).

Earlier in the day, Karbala province announced the suspension of official working hours tomorrow, Tuesday, on the occasion of the anniversary of the martyrdom of Imam Musa Al-Kadhim (peace be upon him).

While local governments in the governorates of Diyala, Dhi Qar, Muthana, Basra, Wasit and Diwaniyah decided to suspend the official working hours for tomorrow, Tuesday, on the occasion of the rugby visit, with the exception of the service and health departments.

For his part, Prime Minister Mohammed Shia al-Sudani directed, earlier, to suspend the official working hours tomorrow, Tuesday, in Baghdad on the occasion of the anniversary of the martyrdom of Imam Al-Kazim (peace be upon him).

The General Secretariat of the Council of Ministers stated in a statement received by “Baghdad Today” that “the Prime Minister directed, during the meeting of the Council of Ministers in its fifth regular session held on 1/30/2024, to suspend the official Working hours for next Tuesday, corresponding to 6/2/2024 in ministries and government institutions in the capital, Baghdad, only, coinciding with the anniversary of the martyrdom of Imam Musa Al-Kazim (peace be upon him).”

Shiite Muslims in Iraq and across the Islamic world commemorate the anniversary of the martyrdom of Imam Musa bin Jaafar al-Kadhim (peace be upon him), the seventh Shiite imam, who died in prison in Baghdad, on the twenty-fifth of Rajab in 183 AH, which will fall tomorrow, Tuesday (February 6, 2024).