The Ministry of finance signed this today, January 12, 2025
The ministry of finance wants these entities not affiliated with the ministry to have their salary calculated on article 77 of the three years budget …. Meaning on the🔥new rate 🔥
And the ministry of finance wants it to be submitted to house of Representative for their approval… which will be held tomorrow, Monday
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FYI, HoR will have the second report and reading of the three years budget… for the second time
Which means it shouldn’t have a third reading… the second reading will be adjusted on the new rate for these people based on article 77 of the three years budget
Parliamentary Finance hosts Taif Sami to discuss 2025 budget schedules and salary insurance
1/12/2025 Baghdad
Today, Saturday, the Parliamentary Finance Committee hosted the Minister of Finance, Taif Sami.
An informed source said, "The meeting will discuss the 2025 budget schedules and securing salaries."
He added, "The meeting will also discuss Article 12 of the 2025 Budget Law Amendment, which relates to resuming the export of Kurdistan Region oil and preparing the final draft of the amendment." LINK
The 2023, 2024, 2025 budget amendment looks to be on the table. It was supposed to be read on Monday, it looks like it's slated for Sunday. So powerful weekend...It looks pretty promising it really does.
Article "Explains the new mechanism for external transfers after the platform is closed"
Here again we're learning they've changed the dollar auctions to the new reinforcement mechanism...That's why you're hearing people squeaking pretty loudly about pricing going up on the streets because they can't get the dollar...
Salaries are secured and a committee is following up on Kurdistan’s dues.. Details of hosting Taif Sami in Parliament
On Saturday, January 11, 2025, the head of the Finance Committee, Atwan Al-Atwani, revealed the details of hosting the Minister of Finance, Taif Sami, within the committee, while indicating that the minister confirmed securing the salaries of employees during 2025 .
Al-Atwani said in a press statement followed by the "Al-Jabal" platform, "Minister of Finance Taif Sami confirmed during her hosting within the Parliamentary Finance Committee that employees' salaries are secured through 2025."
He added, "We have formed a subcommittee to follow up on the Kurdistan Region's dues for the years 2024-2025," adding, "The committee will submit its report in the next Monday's session regarding amending Article 12 / Second / Paragraph C of the General Budget Law."
Earlier today, the Iraqi Parliament's Finance Committee held a meeting, hosting Iraqi Finance Minister Taif Sami, to discuss the issue of amending the country's general budget law and securing employees' salaries.
A source from within the parliamentary finance committee previously told Al-Jebel platform that “this meeting (with the Minister of Finance) was supposed to be held before the legislative recess, but the travel of senior officials from the Iraqi Ministry of Finance prevented that,” adding that “the finance committee will collect all information related to the subject during the meeting to later submit it to the Speaker of Parliament.”
The Parliamentary Committee hosted the Minister at the Parliament headquarters to discuss with her the issue of amending the General Budget Law, which the Parliament is scheduled to conduct its first reading of next Monday, and securing the salaries of public sector employees for the year 2025.
The Iraqi Parliament is scheduled to hold a session on Monday, January 13, to discuss and read a set of proposed draft laws, including an amendment to the provisions of Iraq’s General Budget Law No. 13 of 2023.
The aforementioned amendment is related to the resumption of oil exports from the Kurdistan Region abroad.
Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, had previously stated to the Mountain Platform, “We conducted the first reading of the amendment and all that remains is the second reading and voting on it. All expectations are moving towards an agreement, and there is a political agreement as well as an international and regional agreement on the necessity of re-exporting Kurdistan’s oil at a rate of 400,000 barrels per day.”
He added, "The order to resume oil exports from the Kurdistan Region is still in place, through amending (Article 12, Paragraph/Second C) in General Budget Law No. 13 of 2023."
Oil exports from the Kurdistan Region to abroad via the Turkish port of Ceyhan were halted in March 2023, after the International Court of Arbitration in Paris issued a decision to adjudicate a lawsuit filed by Iraq against Turkey regarding (the illegality of exporting Iraqi oil from the port of Ceyhan without coordination with the Iraqi SOMO Company). According to official statements by officials, the losses of Iraq and the Kurdistan Region from stopping the export process exceeded $20 billion since last year. link
Birth of a new banking entity in Iraq.. A government advisor reveals the details .
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The financial advisor {Economic: Al Furat News}
to the Prime Minister, Mazhar Muhammad
Salih, revealed a study being conducted by a
global consulting firm, commissioned by the
state, to restructure Rafidain and Rashid Banks, which constitute 85% of the banking market in .
the country
Saleh explained to Al Furat News Agency that "the two banks suffer from a historical legacy of challenges, which requires a comprehensive reform plan to reposition them within the map ".of effective and efficient banking work
Saleh added,
"The study aims to establish a new banking entity specializing in government
banking operations, to meet the government's
needs exclusively. This entity will contribute to
achieving the goals of the unified treasury account, which is a crucial tool for regulating ".cash flows for public finances He pointed out that "the study focuses on
evaluating the legal status of the two banks, including property rights, evaluating assets and
liabilities, and studying the requirements of a strategic partner if necessary, with a focus on
developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking ".market
He stressed that "the structural reform also aims to enhance the integration of the two
banks into the national banking market and enable them to expand into global financial
markets, especially in the areas of trade and ".investment financing for the private sector
He added that "the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus .on digital payments