Al-Attwani: The government is working on preparing the basics of the 2025 budget to present to the House of Representatives, 22 oct

  The head of the parliamentary finance committee, Atwan Al-Attwani, said that the government is working on preparing the basics of the 2025 budget to present to the House of Representatives for study and voting.

The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram.To subscribe, click here

A statement from his office, a copy of which {Euphrates News} received, said: “Al-Attwani discussed with the delegation of the Adam Smith International Foundation a set of laws related to the development of the financial and banking system, on Monday, at the headquarters of the Finance Committee in the Council Building, where he reviewed important draft laws, including the Securities and Commodities Law, the Law of the Center for Banking Studies, and the Investment Law in Islamic Sukuk, with the necessary amendments, pointing out that these laws will be read in future sessions.

Al-Atwani stressed that “the aim of the amendments is to involve the concerned authorities to ensure increased productivity and listen to various opinions to ensure their effective implementation.”

The statement added, “The organization of workshops was also discussed in cooperation with the law, economy and investment committees to develop laws comprehensively, with the hosting specialists to benefit from previous experiences. The mechanism of developing federal budget texts, analyzing revenues and expenditures, and planning budget items and public programs was also discussed.”

Al-Atwani pointed out that “the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting on it.”

https://alforatnews.iq/news/العطواني-الحكومة-تعمل-على-إعداد-أساسيات-موازنة-2025-لعرضها-على-مجلس-النواب

FIREFLY: " THESE CASH DEPOSIT CENTERS ARE A START OF COLLECTING AND START OF THE DELETION OF THE ZERO NOTES" , 22 OCT

 Frank26  

 [Iraq boots-on-the-ground report]  

 FIREFLY: Mr Sammy wants you to know the opening of these cash deposit centers that Sudani is bringing in with the CBI are a start of collecting and a start of the deletion of the zero notes.

  It gives us an avenue to trade in the notes instead of clogging up our regular banks.  

FRANK:  These currency centers have been licensed by the CBI, Sudani and the US Treasury in the last few weeks.  

Things are moving very fast for you citizens to receive your monetary reform.

The Finance Committee discusses with Adam Smith International Foundation the development of the financial and banking system, 21 OCT

 The Chairman of the Finance Committee, Eng. Atwan Al-Atwani, discussed with the delegation of the Adam Smith International Foundation a set of laws related to the development of the financial and banking system, on Monday, 10/21/2024, at the headquarters of the Finance Committee in the Council building.

During the meeting, Al-Atwani welcomed the delegation of the Foundation and reviewed important draft laws, including the Securities and Commodities Law, the Banking Studies Center Law, and the Investment Law in Islamic Sukuk, with the necessary amendments, pointing out that these laws will be read in the upcoming sessions.

Al-Attani stressed that the aim of the amendments is to involve the concerned authorities to ensure increased productivity and listen to various opinions to ensure their effective implementation.

They also discussed organizing workshops in cooperation with the law, economic and investment committees to develop laws comprehensively, with the hosting of specialists to benefit from previous experiences.

With regard to the general budget, the mechanism of developing federal budget texts, analyzing revenues and expenditures, and planning budget items and general programs was discussed. Al-Attani pointed out that the government is working on preparing the basics of the 2025 budget to present to the House of Representatives for study and voting.

House of Representatives
Media Department
21/10/2024

اللجنة المالية تناقش مع مؤسسة ادم سمث الدولية تطوير النظام المالي والمصرفي

TIDBITS FROM MARKZ, 22 OCT

 MarkZ  

 [via PDK]  “

Stability in dollar exchange rates in Baghdad, Basra and Erbil”  

Now that Erbil and the Kurdistan region is “playing ball” the stability of the rates are balancing.

 “Salaries will be delayed: Fundamental changes coming to the Iraqi money and financial system”   

Some are worried about the budget deficit. This is another reason we need the dinar value changed - to erase that.

“Washington supports Iraq’s efforts to achieve comprehensive economic development”  

Whenever a country is about to revalue- you will see this lady (Alina Romanowski) being an ambassador there.  She had experience with Kuwait.

RAYREN98: SOME BANKS EXPECT SOME ACTION SOON @DINARREVALUATION

Iraqi Trade Bank opens a new branch in Baghdad, 22 OCT

 The Iraqi Trade Bank TBI opened, on Monday, its new branch located in Baghdad next to Al-Karkh in the Mansour area, which increases the number of its branches spread in the capital and the general governorates to 25 branches.

The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram. To subscribe, click here

The official spokesman of the bank, Ahmed Saad Al-Khazraji, said in a statement received by {Al-Furat News}, that: “The management of the Iraqi Trade Bank is working to implement all the directives of Prime Minister Mohammed Shia Al-Sudani in developing all banking services provided to customers and increasing the number of bank branches in general in order to provide service and facilitate banking procedures and all requirements that meet the needs of the public.”

He added that “the Iraqi Bank for Trade is following steady and sober steps towards enhancing financial inclusion and supporting the Iraqi national economy by providing all financial and banking services that contribute to supporting commercial operations, which in turn will support the import of raw materials for various sectors, industrial, food and others, in addition to providing support and banking support for reconstruction processes, infrastructure development and various other sectors.”

The Bank stresed its full commitment to enhancing financial transparency and applying the corporate governance standards of banks, and providing innovative financial solutions that meet the needs of its customers from various sectors, in addition to seeking to promote investment and trade in Iraq and support development projects to contribute to achieving economic stability and sustainable growth.

https://alforatnews.iq/news/المصرف-العراقي-للتجارة-يفتتح-فرعاً-جديداً-في-بغداد

TIDBITS FROM FRANK26, 22 OCT

 Frank26 

  Article 140 census was done many many years ago and used to calculate the HCL.  They're doing the new census now because they're going to introduces a new rate.

 I think [US] banks are feeling a little bit more relaxed because I believe the meetings are preparing them for something because time is running short...I'm grateful for the attitude, the change in the atmosphere how things are coming about now.