Wednesday, March 20, 2024
Iraq's parliamentary finance committee advances salary localization for Kurdistan employees, 20 MARCH
Iraq's parliamentary finance committee advances salary localization for Kurdistan employees
Shafaq News/ The Iraqi Parliamentary Finance Committee convened a meeting on Tuesday with executives from Rafidain Bank and the International Smart Card ISC to deliberate on initiating the localization of salaries for employees in the Kurdistan Region.
The Iraqi Supreme Court issued a ruling last February directing the Kurdistan Regional Government (KRG) to provide a detailed breakdown of the monthly budget allocated for the salaries of the Region's employees to the federal finance ministry. This measure is intended to facilitate Baghdad's commencement of payments from the federal budget towards the Region's share. Additionally, the ruling stipulates that the Kurdish government must establish accounts for its employees at state-owned banks, a procedure referred to as "localization" by Baghdad.
Committee member Mustafa Al-Karaawi outlined the key agenda items to Shafaq News Agency, which included discussions on electronic transactions, salary localization for Kurdistan Region employees, and the issuance of smart cards.
Al-Karaawi pointed out that the employees in Kurdistan are estimated to be 600,000 to 700,000, noting the substantial capacity of Rafidain Bank and Mastercard Company to issue up to 30,000 cards daily for them.
"The successful execution of this initiative is contingent upon receiving necessary notifications and data related to Kurdistan Region employees," reiterated Al-Karaawi.
In turn, the Finance Committee head, Atwan Al-Atwani, highlighted in a statement "the alignment of government programs with electronic transactions and the streamlined provision of services for citizens through electronic cards."
Last week, the Iraqi finance ministry initiated the payment of civil servant salaries for the Kurdistan Region for February. However, it was indicated that the payment for March salaries would occur once the Region fulfills the necessary requirements for salary settlement, particularly regarding opening bank accounts for KRG employees.
Despite the federal ministry's payment announcement, KRG employees have not yet received their February salaries in cash, which contradicts the Federal Court's decision.
The ministry disbursed approximately 560 billion dinars, an amount deemed insufficient by the KRG to cover the salaries in full.
"RV UPDATE" BY WOLVERINE, 20 MARCH
WOLVERINE
[via Judy Byington]
Most recent banker update...Mon. 18 March...Word from those higher ups was that we were in a 24 to 36 hour... window for announcement with Thurs. 21 March...being an important day for the banks...we know the time of our blessing is approaching quickly...All is looking good according to ALL sources...
Sun. 17 March Wolverine
PM Al-Sudani: The implementation of 2023 budget witnessed success that must be invested, 20 MARCH
PM Al-Sudani: The implementation of 2023 budget witnessed success that must be invested
Shafaq News / Prime Minister Mohammed Shia al-Sudani stated, on Monday, that the implementation of the state's general budget for the year 2023 has "witnessed success," emphasizing its utilization to complete the remaining projects.
According to a statement from the PM’s media office, Al-Sudani chaired a meeting on Sunday evening dedicated to discussing the details of the federal budget for 2024. “The discussion focused on prioritizing expenditure sectors to support service, economic, social projects, and strategic initiatives within the budget framework for the three years (2023, 2024, 2025).”
The statement continued that “Al-Sudani emphasized the importance of concentrating on nearly completed projects, projects stimulating the economic cycle, supporting infrastructure, and those providing the most significant number of employment opportunities. He highlighted the necessity of prioritizing projects meeting the service, health, and social needs over other general necessities.”
“The Prime Minister noted that the successful implementation of the 2023 federal budget should be leveraged to complete the remaining economic projects, particularly those related to economic reform, investment, and infrastructure development in transportation, health, and municipal services, and supporting productive agricultural and industrial programs.”
According to the statement, in the efforts to achieve comprehensive development and administrative decentralization, PM Al-Sudani stressed the “importance of selecting top-priority projects in the provincial councils' allocations. These local targets of the governorates should align with the federal ministries' programs, facilitating the highest returns and outcomes in employment and development and meeting the essential services for all citizens across Iraq.”
"RV UPDATE" BY WALKINGSTICK, 20 MARCH
Walkingstick
Sudani is starting the monetary reform education by using the official rate, which is 1320. He's using 1320 in explaining the possible rate...1.32 to 1 American dollar. IMO the reinstatement could take that International rate further...
WTO means currency restriction free, therefore all members can use multiple foreign currencies to buy, sell and trade but Iraq has decided...all...contracts that have been recently signed with Sudani must be converted into Iraqi dinars.
Iraq is indeed ready but the USA still has multiple conditions for release in the region which are presently being satisfied. We are getting to the end of the game which could monetarily finish as Iraq is going public to force a potential release. It is any minute, any second time frame.AJ : IRAQ UPDATE, 23 DEC
AJ Just know, their are those in Iraq that do not want their gravy train of making money off selling dollars for profits to end. The Centr...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...