AI English Translation, Pages 251-275
4 - To reduce its capital in the manner and circumstances and within the conditions permitted by law.
17 - The Board of Directors may borrow such sums of money as the company may need from time to time as
it deems appropriate, and it may guarantee these debts by issuing debentures or certificates of
indebtedness, or by way of mortgage, or by giving promissory notes or other securities
guaranteed by all of the company's current and future assets, including
its uncalled capital, or in any other manner it deems appropriate.
General Meetings
18 - The first general meeting of the company shall be held after the meeting mentioned in Article (33) within a period not
exceeding six months from the registration of the company.
19 - A general meeting shall be held once every year at the time and place determined by the company in its general
meeting, and in the absence of a decision by the company to that effect, at the time and place
appointed by the Board of Directors, provided that no more than fifteen
months shall elapse between one meeting and another.
20 - The aforementioned general meetings shall be called ordinary meetings, and all other general
meetings shall be called extraordinary meetings.
21 - The Board of Directors may, whenever it deems fit, call the company to an extraordinary general meeting, and this may
also be done by those who have the right to call or request it under Article (78) of the Companies Law.
Proceedings at General Meetings
22 - A notice shall be sent to those to whom it should be sent under the company's articles, including at least a period of fourteen
days, not including the day of service of the notice or the day on which service is deemed to have occurred, but including
- 13 -
therein the day notified thereof, and the place and day of the meeting shall be mentioned in that notice. In the event of the existence of
special business required to be presented to the meeting, its general nature shall be stated in the manner following
herein or in any other manner decided by the company in its general meeting. The failure of
such a notice to reach one of the members shall not result in the invalidity of the proceedings occurring
in any general meeting.
23 - All business transacted at an extraordinary meeting and all business transacted at an ordinary meeting
other than the approval of dividends, the auditing of accounts, the balance sheets, the ordinary report
of the Board of Directors, and the appointment of members of the Board of Directors and officers in place of those whose terms have ended, shall be considered special business.
24 - No business shall be transacted at any general meeting unless a quorum of members is present at the time of transacting that
business. A quorum shall be considered present upon the attendance of five members. If a quorum is not
obtained within half an hour of the appointed time, the meeting shall be considered cancelled if it was held
based on a call from the company members. However, if it was called by the Board of Directors, it shall be considered adjourned
for a full week at the same time and place. If a quorum is not obtained at the following meeting
after half an hour of its convening, it shall be considered obtained by the attendance of two persons in person.
25 - A - The Chairman of the Board of Directors shall preside over the general meetings of the company. If he does not attend within a quarter
of an hour, or attends and does not wish to preside over the meeting, those present shall elect one of them to preside over
the meeting and he shall be the chairman for that meeting only.
B - The company's resolutions shall be issued by the legal majority, which is the majority of those present, the absolute majority in
the case of an ordinary resolution in an ordinary meeting, and a three-quarters majority of those present in
the case of an extraordinary resolution.
⟦line⟧
- 14 -
C - The statement of the Chairman signed in the record of the general meetings' minutes shall be evidence of the proceedings
of those meetings.
D - The chairman of the meeting may adjourn it whenever the attendees agree to that by majority. It is not permissible in
the following meeting to engage except in the business adjourned from the previous meeting.
26 - Decisions are taken by a majority of votes, and each member has the right to vote with as many votes as the number of
shares they hold in the company, provided that the conditions for issuing shares are observed in this regard.
27 - In the event that there are several partners in a share, the vote of the eldest of them is considered, whether expressed by himself or on his behalf,
excluding the votes of the other partners, and seniority is determined according to the order of names in the register of members.
28 - A member has no right to vote in a general meeting if he has not paid all the amounts due from him
to be paid from the requested value of the shares he holds in the company or from other matters
related to the mentioned shares.
29 - Voting by proxy is permitted, but this is not permitted for the company if there is a decision from the Board
of Directors that applies to Article Eighty of the Companies Law.
30 - The appointment of a deputy for a member must be by virtue of an instrument signed by the principal or his agent
authorized in writing, and if the principal is a company, the proxy instrument must be signed
with the company's general seal or by the signature of one of its officers or an authorized agent for it, and the
deputy may be a member of the company or others.
31 - The proxy instrument must be deposited at the company's headquarters within a period of no less than twenty-four hours
before the meeting. The proxy (agent) may be a stranger to the company. The vote of the
proxy is considered valid in the event of the death of the principal or his dismissal of the proxy unless news of his death or dismissal reaches the center.
- 15 -
the company at least twenty-four hours before the meeting time.
32 - The proxy instrument may be in the following form or in any other form approved by
the Board of Directors.
To the National Tobacco Company Limited
I ⟦line⟧ residing in ⟦line⟧ the member of the National Tobacco
Company Limited have appointed by this instrument ⟦line⟧ residing ⟦line⟧ as my proxy to vote
on my behalf at the General Meeting of the company (ordinary or extraordinary as the case may be)
scheduled to be held on the day of ⟦line⟧ and at every meeting to which that meeting is adjourned.
In signature
Board of Directors
33 - A - Since the Board of Directors is composed of five members, it shall remain as it is until
the ordinary meeting following the conversion of the company from private to public, and then the
number of its members shall become seven.
B - At the first ordinary meeting, two members of the Board of Directors shall withdraw by lot
and the General Assembly shall elect four members, and in the following year the three who were
fixed shall withdraw, and so the matter continues, with three withdrawing one year and four the next. Meaning that every member of
the Board of Directors must withdraw two years after their election.
C - There is no objection to the re-election of a withdrawn Board of Directors member.
D - Membership of the Board of Directors becomes vacant in the following cases:-
(A) - If the member holds fewer than (100) shares.
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(b) - If he resigns.
(c) - If he requests a declaration of bankruptcy or is declared bankrupt.
(d) - If an emergency occurs regarding his health capacity.
(e) - If he becomes a member of the board of directors of a company competing with this company or an employee thereof. And
the remaining members of the board of directors shall decide whether the company is competing or not.
e - If the company wishes to contract with one of its board members, borrow from him, or
perform any work in which he has a clear benefit, then that member has no right to vote for that
subject only. Likewise, if the member is a member of the board of directors of another company that wishes
to contract with this company, he shall not participate in voting on that matter only.
f - The company may not employ one of its board members in a hired position except to appoint him
as an authorized manager, factory manager, marketing manager, purchasing manager, or technical manager.
g - The company pays its board members annual allowances of one hundred and fifty
dinars for each of them.
h - In addition to the above, the company may pay its board members or any one of them
a salary or a share of the profit in exchange for any work they performed for it and under the conditions decided by the board
of directors. It also has the right to delegate them and send them abroad on missions pertaining to it and compensate them
with a reward for their efforts, as well as pay their travel and accommodation expenses as decided by the board of directors.
i - If a board membership becomes vacant for any reason, the remaining board members
shall elect one of the shareholders to replace the one whose position became vacant, and the member appointed in this
manner shall withdraw at the subsequent ordinary general meeting following his election.
- 17 -
E - If a member of the Board of Directors fails to attend three consecutive meetings of the Board of Directors, he shall be considered
resigned if he does not provide a legitimate excuse on his own behalf for his absence. His position shall become
vacant, and the Board of Directors must appoint a person from among the shareholders to replace him in accordance with the provisions
of the previous article.
Procedures of the Board of Directors
34 - The Board of Directors manages the company's business, pays all its incorporation and registration expenses, and performs
all the company's functions except for what is within the jurisdiction of the company itself in its general meeting under
the Companies Law or under this Bylaw, provided that the provisions of this Bylaw and the provisions of
the aforementioned law and the rules not inconsistent with them decided by the company in its general meeting are observed, and in
any case, the rules decided by the company in its general meeting shall not invalidate the actions of the Board
that occurred previously and were valid had those rules not existed.
35 - The amount owed by the company from the money borrowed or collected by the Board of Directors
for the benefit of the company (other than money obtained from the issued share capital) must
not exceed at any time the company's capital formed from its issued shares
without permission from the company in its general meeting.
36 - The Board of Directors must perform its functions in accordance with this Bylaw and follow the provisions of the
Companies Law, and shall observe in particular the provisions related to registering details of mortgages and privileges
on the company's assets or those created by the company, and by preparing a register for recording the members of the Board
of Directors, and by sending an annual list to the Registrar with the names of the members of the Board of Directors and a summary of details
related to them, and informing the Registrar of every consolidation of capital or increase therein or the form of resolutions.
⟦line⟧ 18 ⟦line⟧
private and a copy of the register of board members and every change therein.
37 - a - The Board of Directors may meet to perform its functions and may adjourn and organize its meetings
as it wishes, and decisions in Board of Directors meetings are taken by majority, and if the votes are equal,
the Chairman shall have a casting vote.
b - Board of Directors meetings shall be held at the time and place decided by the Board,
and a quorum is achieved by the presence of four of its members, provided that a notification has been sent
to all of them in accordance with the rules.
c - The members of the Board of Directors shall elect from among themselves a Chairman for them, and his term of office shall be from
the general meeting after which he was appointed Chairman of the Board of Directors until the end of the next ordinary general meeting
at which the balance sheet and the profit and loss account are presented.
d - If the Chairman of the Board of Directors does not attend the Board meeting ten minutes after the time of
the meeting, or if he attends and does not wish to preside, those present shall elect from among themselves a chairman for that
meeting only, and when the Chairman of the Board of Directors is not presiding over the session, he loses his
casting vote mentioned above.
e - Board of Directors sessions are held at the invitation of its Chairman, the Authorized Manager, or one of the Authorized Managers
when the company has two Authorized Managers, or the Company Secretary, and the invitation must be issued
at least three days before the meeting date unless all members agree
on a shorter period.
38 - a - The Board of Directors may form committees from among its members and delegate to them whatever powers it wishes,
and the committees must follow the instructions of the Board of Directors and observe the company's articles of association.
⟦line⟧ 19 ⟦line⟧
B - The members of each committee may elect from among themselves a permanent chairman for it, or elect a chairman for each
meeting, and if the chairman does not attend ten minutes after the meeting time, the members of the
committee shall elect one of them to chair the meeting.
C - Each committee may meet, adjourn its meetings, and take decisions therein by a majority of its members
present, and if the votes are equal, the chairman shall have a casting vote, provided that the majority is not achieved
by fewer than two distinct persons.
39 - A - A member of the Board of Directors, if absent from the city in which the company's registered office is located, may
appoint a proxy to take his place, and the proxy must be one of the company's members who hold
therein no less than (100) shares, and another member of the Board of Directors may be appointed as a proxy,
and the proxy member shall have the vote of his principal in addition to his own vote.
B - If a member is absent for more than six months, his position shall be considered dissolved for any reason whatsoever, unless
the company has sent him abroad. The Board of Directors shall elect one of the shareholders to take
his place in accordance with paragraph (i) of Article 33 above.
C - The member wishing to travel shall draft a power of attorney, the form of which shall be as follows or any other text
approved by the Board of Directors:-
To the National Tobacco Company Limited
I ⟦line⟧ residing in ⟦line⟧ a member of the Board of Directors of this
company, have hereby appointed Mr. ⟦line⟧ residing in ⟦line⟧ to represent me on the
Board of Directors of the company and to exercise and perform all the functions of a member of the Board of Directors instead of me,
pursuant to the power of attorney granted to me by the company's internal regulations.
- 20 -
Written on ⟦line⟧ year
Witness
Signature of the Principal
40 - All actions carried out in good faith at any meeting of the Board of Directors or committees
appointed by it, or carried out by any person in the capacity of a member of the Board of Directors, shall be considered valid even if
it is later discovered that an error occurred in the appointment of that member or it appeared that he lost the eligibility requirement for membership.
41 - The Board of Directors must record in registers prepared for the following purposes: -
A - The names of the company's employees whom it appoints.
B - Minutes of the Board of Directors' sessions, and in every meeting, the names of those present shall be recorded. Likewise,
a minutes register shall be opened for committee sessions, and every member of the Board of Directors or a committee who attends
a session must sign the minutes.
C - All company resolutions taken in its general meetings shall be signed by the chairman of the meeting.
Authorized Manager
42 - A - The Board of Directors may appoint from time to time one or more of its members as an authorized
manager for the company, or a foreigner as a manager for it, for a specific period or without specifying a period, and it may terminate
his capacity. It may contract regarding his appointment.
B - The Board of Directors shall determine the remuneration of the authorized manager or the manager, and it may be in the form of a salary or
a percentage of the profits or in any form the Board of Directors deems appropriate and agrees upon with the appointed person.
C - The Board of Directors may delegate to the authorized manager or the manager such powers as it deems appropriate.
- 21 -
with the conditions, modalities, and restrictions it deems appropriate, and it may from time to time amend or withdraw them.
The Board of Directors may also appoint agents for the company for a commission, a salary, or both,
as it estimates.
Company Seal
43 - The company shall have a general seal for the headquarters to be used under the conditions deemed appropriate by the Board of Directors.
The authorized manager may also organize a special seal for himself to stamp all transactions he conducts in addition
to the company. The Board of Directors may also decide on the necessary seals for the company's branches and facilities.
Dividends and Reserves
44 - The company, in its general meeting, may decide to distribute dividends to be paid to the members, but it may not
decide to pay a dividend greater than what is recommended by the Board of Directors, and no dividend may be paid except from profits.
45 - The Board of Directors may distribute to the company members an interim dividend on account of the original dividend
if it sees that the company's profits justify that.
46 - The Board of Directors may set aside a portion of the profits as a reserve. The reserve may not exceed
in any year twenty-five percent of the company's profits unless the approval of the company is obtained in a general meeting.
47 - The Board of Directors may invest the company's reserve in the manner it deems appropriate.
48 - If several persons are registered as joint owners of a share, the receipt taken from
one of them for the profits shall be considered a receipt from all of them.
49 - No interest shall accrue to the company as a result of not receiving dividends for any reason whatsoever.
Accounts
50 - The Board of Directors must keep correct accounts of the amounts received by the company and those spent.
- 22 -
before it, and the nature of that, and the company's assets and its debts.
51 - The company's account books shall be kept at its headquarters or at any other place decided by the Board of Directors
and shall be open for inspection by the members of the management.
52 - The Board of Directors shall decide the manner and conditions under which the company's shareholders, other than members of the Board of
Directors, may inspect the books.
53 - The Board of Directors must present to the company at its ordinary general meeting every year
the balance sheet of the company's accounts, and the date of its last accounts must not exceed six months before
the meeting. The balance sheet shall be accompanied by the Board of Directors' report on the progress of the company's business and the amount
recommended to be distributed as dividends and the amount proposed to be added to the reserve.
54 - The Board of Directors must present to the company at its ordinary general meeting a profit
and loss account for the period that has passed since the previous account, and the account must be
up to a date not preceding that meeting by more than six months.
55 - The profit and loss account shall show the total revenue and expenses, the wages of the company's offices,
the salaries of employees and workers, and all expenses and allocations, arranged under independent
headings for each of them. The account must include every expense that should be charged against the year's revenue
so that the profit and loss account is correct. If there are expenses that should be
distributed over several years, the total of that amount shall be recorded, and the reasons for
distributing it over several years shall be mentioned along with the installment charged against the year's revenue.
56 - A copy of the balance sheet, the profit and loss account, and the report prepared by the Board of Directors shall be sent at least seven
days before the date of the meeting to everyone who must be notified of general meetings under these Articles.
- 23 -
57 - The Board of Directors must follow the provisions of Articles (130 - 135) of the Companies Law.
Auditing of Accounts
58 - The company must appoint at its general meeting one or more auditors to audit
the company's accounts and to perform the functions specified in Articles 144 or 145 of the
Companies Law, while their fees shall be determined by the Board of Directors.
Notices
59 - The company's notices shall be served to the members either by delivering them to them personally or to their place of residence
either by registered mail or through one of the company's employees at the address
that they have provided to the company and which is registered in the register of members. If a member changes his address,
he must inform the company in writing of that, stating his new address, and when the notice is sent by registered mail,
the notification is considered to have occurred at the time the post office distributes the letters.
60 - The Board of Directors may decide to notify the members, a group of them, or any member individually by an announcement published in two newspapers
on the same day from the newspapers issued in the company's headquarters. The notification is considered to have occurred on the day the announcement is published.
61 - The owners of a joint share shall be notified by sending the notice to the partner named first in the company's register
for that share.
62 - If a shareholder dies and his heirs have not notified the company of his specific inheritance distribution along with the addresses of all heirs in a complete
and detailed manner, the company may send its notification to the deceased's place of residence in the name of (Heirs of So-and-so) or
in the name of the deceased himself as if he were not dead. In such case, the notification is considered to have occurred in accordance with the law and the requirements of these
Articles of Association, by any of the notification methods mentioned in Articles 59 and 60 above.
⟦line⟧
- 24 -
for Baghdad in the Iraqi Chamber of Deputies for the first
time / then his election was renewed until the end of the First World
War and the separation of Iraq from Turkey.
During his parliamentary term, he demonstrated great
parliamentary activity and served as a member of
various special committees in the Council and as Chairman
of the General Budget Committee. He was dispatched to
London and Paris on special missions. In
the year 1912, he was appointed as an advisor to the Ministry
of Commerce and Agriculture (Public Works) during the era of
its late minister, Suleiman al-Bustani.
Following the end of the First World
War, the late Sassoon Heskel returned
to Baghdad in 1920. In the same
year, the provisional Iraqi government was formed
under the leadership of the late Mr. Abd al-Rahman
al-Naqib, and Sassoon Heskel assumed the Ministry of
Finance in it.
In 1921, the deceased was one of
the members of the Iraqi delegation to the Cairo
Conference, accompanied by the late Ja'far al-Askari,
the Minister of Defense at the time. In that
historic conference, it was decided to lay the foundations
of the young Kingdom of Iraq.
When the late Faisal I was pledged allegiance
as King of Iraq and the new ministry was formed
under the leadership of al-Naqib, the late
Sassoon Heskel continued to retain
his position - the Ministry of Finance (September 1921)
⟦And he held⟧ the same position in the ⟦Ministry of Finance⟧
the third (August 1921 - November 1922)
⟦then the ministry⟧, the first Al-Saadoun ⟦ministry⟧
(November 1922 - November 1923)
then the first Yassin al-Hashimi ministry (August
1924 - June 1925)
Accordingly, the late Sassoon
⟦Eskell⟧ was the first to hold the Ministry of Finance
in the nascent Iraqi state, and he held it
for more than five consecutive years, considering
the period of the first foundational ministry (1921 -
1922). Those years were a
decisive stage in establishing the financial formations
and setting the state budget and its financial laws
on firm and solid foundations. The deceased was,
alongside his extensive financial expertise, endowed
with a keenness for the state's interest ⟦and precision⟧ in implementing
laws and in adhering to budget figures.
He was stingy in adding credits except
for extreme necessity, and by that he ⟦enacted⟧ solid
systems in consolidating the state's financial rules.
Among the achievements that observers mention
with appreciation and admiration is that when he participated
with the late Abd al-Muhsin al-Saadoun,
the Prime Minister, in oil negotiations with
the Turkish Petroleum Company, which was later known
as the Iraq Petroleum Company, he insisted on the necessity
of paying the Iraqi government's share in gold
currency. His insistence back then
on his point of view seemed strange, because the pound
4
Sterling was based on the
gold standard. But this text has benefited Iraq
with a great benefit following the exit of
the pound from the gold standard, ensuring for Iraq
the acquisition of millions of additional dinars.
The late Sassoon ⟦Heskel⟧ was elected
as a deputy for Baghdad in the year 1925 in the
first Chamber of Deputies, and then he was re-elected in
successive councils until his death. He held
the chairmanship of the Finance Committee in the Council, so
it was inevitable that he became like a father
to the Chamber of Deputies in view of his parliamentary experience
and proficiency: he was referred to in matters
related to parliamentary traditions and his opinion
was taken in every dispute that occurred regarding the application
of the internal regulations.
The late Sassoon Heskel was
a far-sighted politician with extensive knowledge
and status inside Iraq and abroad.
In addition to receiving higher education
in Europe, he visited most European countries
and their capitals, and spent various periods in them and became acquainted
with most of Europe's politicians and decision-makers
there, and he has a character that has ⟦among⟧ many friends.
He was proficient in a number of Eastern
and Western languages in reading and writing, including, besides
Arabic, Turkish, Persian, Hebrew,
French, English, and German, and he was familiar
with Greek and Latin. His private library
was one of the greatest personal libraries
The Life of the Late Sir Sassoon Eskell
Sassoon Eskell was born in Baghdad on March 17, 1860. He belonged to the Shlomo
David family, known among Jewish families in Iraq for trade, wealth, and prestige. His late father,
the late Rabbi Eskell, was counted among the great spiritual Jewish scholars in Baghdad.
After Sassoon Eskell received his primary education at the Alliance Israélite school
in Baghdad, he traveled in early 1877 to Istanbul at the age of seventeen. His journey
was in the company of the late Menahem Salih Daniel, who was elected as a deputy for Baghdad in the first Ottoman
Chamber of Deputies, which was elected during the reign of Sultan Abdul Hamid.
In Istanbul, Sassoon Eskell continued his studies and moved from there to schools in London and Vienna,
where he received his financial education. In late 1881, he returned to Baghdad and was appointed as a translator for the province, remaining
in this position until 1904, when he was entrusted with the Directorate of River Administration, which at that time was affiliated
with the Sanniyya Administration.
In 1908, following the declaration of the Ottoman Constitution, the subject was elected as a deputy for Baghdad
in the Ottoman Chamber of Deputies for the first time in 1908, and his election was renewed until the end of the First World
War and the separation of Iraq from Turkey in 1918.
During his tenure as a deputy, he demonstrated great parliamentary activity and served as a member of various special committees
in the Chamber and as chairman of the General Budget Committee. He was sent to London and Paris on special missions. In
1913, he was appointed as an advisor to the Ministry of Trade and Agriculture (Public Works) during the term of its minister, the late Sulayman al-Bustani.
Following the end of the First World War, the late Sassoon Eskell returned to Baghdad in
1920. In the same year, the provisional Iraqi government was formed under the leadership of the late Sayyid Abd al-Rahman al-Naqib,
and Sassoon Eskell assumed the Ministry of Finance in it.
In March 1921, the deceased was one of the members of the Iraqi delegation to the Cairo Conference, headed by
the late Ja'far al-Askari, the Minister of Defense at the time. At that historic conference, it was decided to lay the foundations of the United Kingdom
of Iraq.
When His Late Majesty Faisal I was crowned King of Iraq and the new ministry was formed under the leadership of
al-Naqib, the late Sassoon Eskell continued to hold the position of the Ministry of Finance (September 1921) and held
the same position in the third Naqib ministry (August 1922 - November 1922), then the first al-Sa'dun ministry
(November 1922 - November 1923), then the first Yasin al-Hashimi ministry (August 1924 - June
1925).
Accordingly, the late Sassoon Eskell was the first to hold the Ministry of Finance in the nascent state of Iraq,
and he held it for about five consecutive years, with the exception of the period of the first military ministry (1923 - 1924).
Those years were a decisive stage in establishing financial structures and setting the state budget and its financial laws.
- To be continued -
14
- 2 -
on a firm and solid foundation. In addition to his extensive financial experience, the deceased was extremely keen on the interest of
the state, firm in implementing the provisions of the law and in observing budget figures. He did not tolerate adding credits
except for extreme necessity, and by doing so, he established the best precedent in consolidating the state's financial rules.
Among the achievements for which Iraq remembers him with appreciation and admiration is that when he participated in the year
1925 with the late Abdul Muhsin al-Saadoun, the Prime Minister, in oil negotiations with the Turkish Petroleum Company
which was later known as the Iraq Petroleum Company, he insisted on the necessity of paying the Iraqi government's share in gold currency.
His insistence at that time seemed to be based on a strange view, because the Pound Sterling was based on the gold
standard, but this action benefited Iraq greatly later on after the Pound left the gold
standard, thus ensuring that Iraq obtained millions of additional Dinars.
The late Sassoon Heskel was elected as a deputy for Baghdad in 1925 in the first Chamber of Deputies
and was subsequently re-elected in successive councils until his death. He held the chairmanship of the Financial Committee
in the Council, and before long he became like a father to the Chamber of Deputies in view of his parliamentary experience and advanced age.
He was referred to in matters related to parliamentary traditions, and his opinion was taken in every dispute that occurred regarding
the application of the internal regulations.
The late Sassoon Heskel was a far-sighted politician, widely informed, and of great standing
inside and outside Iraq. In addition to receiving financial sciences in Europe, he visited most European countries
and their capitals, spent various periods in them, and became acquainted with most of Europe's politicians and decision-makers, so he had
many friends among them.
He was proficient in a number of Eastern and Western languages in reading and writing, including, besides Arabic,
Turkish, Persian, Hebrew, French, English, and German, and had knowledge of Greek and Latin. His
private library was one of the greatest personal libraries, containing the most precious books by major Eastern and Western authors on
valuable and rare subjects.
In appreciation of his great services, His Majesty the late King Faisal I bestowed upon him the Order of
the Rafidain, Civil Type, Second Class. Before this, the Ottoman Empire had bestowed upon him
the Nishan al-Imtiyaz, and His Majesty the Shah of Iran bestowed upon him the Order of Shir u Khurshid, and His Majesty the King of England decorated him with the
KBE with the rank of Knight, and he came to hold the title "Sir".
In the summer of 1932, the deceased traveled to Paris for medical treatment, and there he passed away on
August 31, 1932, and was buried in the Père Lachaise Cemetery in the French capital. A memorial service was held for him in Baghdad on
September 7, 1932.
⟦line⟧
14
The Life of the Late Mr. Sassoon Heskel
Sassoon Heskel was born in Baghdad on March 17, 1860. He belonged to the Shlomo
David family, known among Jewish families in Iraq for trade, wealth, and prestige. His father, of blessed memory,
the late Rabbi Heskel, was counted among the senior spiritual scholars of the Jews in Baghdad.
After Sassoon Heskel received his primary education at the Alliance Israélite school
in Baghdad, he traveled in early 1877 to Istanbul at the age of seventeen. His journey
was in the company of the late Menahem Salih Daniel, who was elected as a deputy for Baghdad in the first Ottoman
Chamber of Deputies, which was elected during the reign of Sultan Abdul Hamid.
In Istanbul, Sassoon Heskel continued his studies and moved from there to the schools of London and Vienna
where he received his higher education. In late 1881, he returned to Baghdad and was appointed as a translator for the province, remaining
in this position until 1904, when he was assigned the directorship of the River Administration, which at that time was affiliated
with the Sanniyya Administration.
In 1908, following the announcement of the Ottoman Constitution, the subject was elected as a deputy for Baghdad
in the Ottoman Chamber of Deputies for the first time in 1908, and his election was renewed until the end of the First World War
and the separation of Iraq from Turkey in 1918.
During his tenure as a deputy, he demonstrated great parliamentary activity and served as a member of various special committees
in the Chamber and as chairman of the General Budget Committee. He was sent to London and Paris on special missions. In
1913, he was appointed as an advisor to the Ministry of Trade and Agriculture (Public Works) during the term of its late minister, Sulayman al-Bustani.
Following the end of the First World War, the late Sassoon Heskel returned to Baghdad in
1920. In the same year, the provisional Iraqi government was formed under the chairmanship of the late Mr. Abd al-Rahman al-Naqib,
and Sassoon Heskel assumed the Ministry of Finance in it.
In March 1921, the deceased was one of the members of the Iraqi delegation to the Cairo Conference headed by
the late Ja'far al-Askari, the Minister of Defense at the time. In that historic conference, it was decided to lay the foundations of the future
Kingdom of Iraq.
When His Majesty the late Faisal I was crowned King of Iraq and the new ministry was formed under the chairmanship of
al-Naqib, the late Sassoon Heskel continued to hold the position of the Ministry of Finance (September 1921) and held
the same position in the third Naqib ministry (August 1922 - November 1922), then the first al-Sa'dun ministry
(November 1922 - November 1923), then the first Yasin al-Hashimi ministry (August 1924 - June
1925).
Thus, the late Sassoon Heskel was the first to hold the Ministry of Finance in the emerging State of Iraq,
holding it for about five consecutive years, with the exception of the period of the first military ministry (1923 - 1924).
Those years were a decisive stage in establishing the financial structures and setting the state budget and its financial laws.
- To be continued -
12
- 2 -
on a firm and solid basis. In addition to his extensive financial experience, the deceased was extremely keen on the interest of
the state, firm in implementing the provisions of the law and in observing budget figures. He did not tolerate adding credits
except for extreme necessity, and thus he established the best precedent in consolidating the state's financial rules.
Among the achievements for which Iraq remembers him with appreciation and admiration is that when he participated in the year
1925 with the late Abdul Muhsin al-Saadoun, the Prime Minister, in oil negotiations with the Turkish Petroleum Company
which was later known as the Iraq Petroleum Company, he insisted on the necessity of paying the Iraqi government's share in gold currency.
His insistence at that time seemed strange to those who were ignorant of his point of view, because the pound sterling was based on the gold
standard, but this action benefited Iraq greatly afterwards following the pound's departure from the gold
standard, ensuring that Iraq obtained millions of additional dinars.
The late Sassoon Heskel was elected as a deputy for Baghdad in 1925 in the first Chamber of Deputies
and was subsequently re-elected in successive councils until his death. He held the chairmanship of the Financial Committee
in the council, and after a while he became like a father to the Chamber of Deputies in view of his parliamentary experience and advanced age.
He was referred to in matters related to parliamentary traditions, and his opinion was taken in every dispute that arose regarding
the application of the internal regulations.
The late Sassoon Heskel was a far-sighted politician, widely informed, and of great standing
inside and outside Iraq. In addition to receiving financial sciences in Europe, he visited most European countries
and their capitals, spent various periods in them, and became acquainted with most of Europe's politicians and decision-makers, so he had
many friends among them.
He was proficient in a number of Eastern and Western languages in reading and writing, including, besides Arabic,
Turkish, Persian, Hebrew, French, English, and German, and had knowledge of Greek and Latin. His
private library was one of the greatest personal libraries, containing the most precious books by major Eastern and Western authors on
valuable and rare subjects.
In appreciation of his great services, His Majesty the late King Faisal I bestowed upon him the Order of
the Rafidain, civil type, second class. Before this, the Ottoman Empire had bestowed upon him
the Al-Mutamayiz medal, and His Majesty the Shah of Iran bestowed upon him the Order of the Lion and the Sun, and His Majesty the King of England decorated him with the
KBE with the rank of Knight, and he came to hold the title of "Sir".
In the summer of 1932, the deceased traveled to Paris for medical treatment, and there he passed away on
August 31, 1932, and was buried in the Père Lachaise Cemetery in the French capital. A memorial service was held for him in Baghdad on
September 7, 1932.
⟦line⟧
A 1
The Life of the Late Mr. Sassoon Heskel
Sassoon Heskel was born in Baghdad on March 17, 1860. He belonged to the Shlomo
David family, known among Jewish families in Iraq for commerce, wealth, and prestige. His father of good memory,
the late Rabbi Heskel, was counted among the senior spiritual Jewish scholars in Baghdad.
After Sassoon Heskel received his primary education at the Alliance Israélite school
in Baghdad, he traveled in early 1877 to Istanbul at the age of seventeen. His journey
was in the company of the late Menahem Salih Daniel, who was elected as a deputy for Baghdad in the first Ottoman
Chamber of Deputies, which was elected during the reign of Sultan Abdul Hamid.
In Istanbul, Sassoon Heskel continued his studies and moved from there to schools in London and Vienna
where he received his higher education. In late 1881, he returned to Baghdad and was appointed as a translator for the province, remaining
in this position until 1904, when he was entrusted with the Directorate of River Administration, which at that time was affiliated
with the Sanniyya Administration.
In 1908, following the announcement of the Ottoman Constitution, the subject was elected as a deputy for Baghdad
in the Ottoman Chamber of Deputies for the first time in 1908, and his election was renewed until the end of the First World
War and the separation of Iraq from Turkey in 1918.
During his tenure as a deputy, he demonstrated great parliamentary activity and served as a member of various special committees
in the Chamber and as chairman of the General Budget Committee. He was sent to London and Paris on special missions. In
1913, he was appointed as an advisor to the Ministry of Commerce and Agriculture (Public Works) during the tenure of its late minister, Sulayman al-Bustani.
Following the end of the First World War, the late Sassoon Heskel returned to Baghdad in
1920. In the same year, the provisional Iraqi government was formed under the chairmanship of the late Mr. Abd al-Rahman al-Naqib,
and Sassoon Heskel assumed the Ministry of Finance in it.
In March 1921, the deceased was one of the members of the Iraqi delegation to the Cairo Conference, headed by
the late Ja'far al-Askari, the Minister of Defense at the time. In that historic conference, the foundations of the future Kingdom of Iraq
were decided.
When His Late Majesty Faisal I was crowned King of Iraq and the new ministry was formed under the chairmanship of
al-Naqib, the late Sassoon Heskel continued to hold the position of the Ministry of Finance (September 1921) and held
the same position in the third Naqib ministry (August 1922 - November 1922), then the first al-Saadoun ministry
(November 1922 - November 1923), then the first Yassin al-Hashimi ministry (August 1924 - June
1925).
Accordingly, the late Sassoon Heskel was the first to hold the Ministry of Finance in the emerging State of Iraq,
and he held it for about five consecutive years, with the exception of the period of the first military ministry (1923 - 1924).
Those years were a decisive stage in establishing the financial structures and setting the state budget and its financial laws.
- To be continued -
— 2 —
on a solid and firm basis. In addition to his extensive financial experience, the deceased was very keen on the interest of
the state, firm in implementing the provisions of the law and in observing budget figures. He did not tolerate adding credits
except for extreme necessity, and thus he established the best tradition in consolidating the state's financial rules.
Among the achievements for which Iraq remembers him with appreciation and admiration is that when he participated in the year
1925 with the late Abdul Muhsin al-Saadoun, the Prime Minister, in oil negotiations with the Turkish Petroleum Company
which was later known as the Iraq Petroleum Company, he insisted on the necessity of paying the Iraqi government's share in gold currency.
His insistence at that time seemed to be based on a strange point of view, because the Pound Sterling was backed by the gold
standard, but this action benefited Iraq greatly later on after the Pound left the gold
standard, ensuring that Iraq obtained millions of additional dinars.
The late Sassoon Heskel was elected as a deputy for Baghdad in 1925 in the first Chamber of Deputies
and was subsequently re-elected in successive councils until his death. He held the chairmanship of the Financial Committee
in the council, and before long he became like a father to the Chamber of Deputies in view of his parliamentary experience and advanced age.
He was referred to in matters related to parliamentary traditions, and his opinion was taken in every dispute that arose regarding
the application of the internal regulations.
The late Sassoon Heskel was a far-sighted politician, widely informed, and of great standing
inside and outside Iraq. In addition to receiving financial sciences in Europe, he visited most European countries
and their capitals, spent various periods in them, and became acquainted with most of Europe's politicians and decision-makers, so he had
many friends among them.
He was proficient in a number of Eastern and Western languages in reading and writing, including, besides Arabic,
Turkish, Persian, Hebrew, French, English, and German, and had knowledge of Greek and Latin. His
private library was one of the greatest personal libraries, containing the most precious books by major Eastern and Western authors on
valuable and rare subjects.
In appreciation of his great services, His Majesty the late King Faisal I bestowed upon him the Order of
the Rafidain, Civil Type, Second Class. Before this, the Ottoman Empire had bestowed upon him
the Distinguished Medal, and His Majesty the Shah of Iran bestowed upon him the Order of the Lion and the Sun, and His Majesty the King of England awarded him the
KBE with the rank of Knight, and he came to hold the title "Sir".
In the summer of 1932, the deceased traveled to Paris for treatment, and passed away there on
August 31, 1932, and was buried in the Père Lachaise Cemetery in the French capital. A memorial service was held for him in Baghdad on
September 7, 1932.
⟦line⟧
14
The Life of the Late Mr. Sassoon Heskel
Sassoon Heskel was born in Baghdad on March 17, 1860. He belongs to the Shlomo
David family, known among Jewish families in Iraq for trade, wealth, and prestige. His father, of good memory,
the late Rabbi Heskel, was counted among the senior spiritual Jewish scholars in Baghdad.
After Sassoon Heskel received his primary education at the Alliance Israélite school in Baghdad,
he traveled in early 1877 to Istanbul at the age of seventeen. His journey was in the company of
the late Menahem Salih Daniel, who was elected as a deputy for Baghdad in the first Ottoman Chamber of Deputies, which
was elected during the reign of Sultan Abdul Hamid.
In Istanbul, Sassoon Heskel continued his studies and moved from there to the schools of London ⟦and Vienna⟧ where he received
his financial education. In late 1881, he returned to Baghdad and was appointed as a translator for the province and remained in this position
until 1904, when he was entrusted with the management of the River Navigation Administration, which at that time was affiliated with the Sanniyya Administration.
In 1908, following the declaration of the Ottoman Constitution, the subject was elected as a deputy for Baghdad in the
Ottoman Chamber of Deputies for the first time in 1908, then his election was renewed until the end of the First World War and the separation
of Iraq from Turkey in 1918.
During his tenure as a deputy, he demonstrated great parliamentary activity and served as a member of various special committees in the Chamber,
and chaired the General Budget Committee. He was sent to London and Paris on special missions, and in 1913 he was appointed as an advisor to the Ministry
of Trade and Agriculture (Public Works) during the tenure of its minister, the late Suleiman al-Bustani.
Following the end of the First World War, the late Sassoon Heskel returned to Baghdad in 1920.
In the same year, the provisional Iraqi government was formed under the chairmanship of the late Mr. Abd al-Rahman al-Naqib, and Sassoon
Heskel assumed the Ministry of Finance in it.
In March 1921, the deceased was one of the members of the Iraqi delegation to the Cairo Conference, accompanied by the late
Ja'far al-Askari, the Minister of Defense at the time. In that historic conference, it was decided to lay the foundations of the future ⟦Kingdom⟧ of Iraq.
When His Late Majesty Faisal I was crowned King of Iraq and the new ministry was formed under the chairmanship of al-Naqib,
the late Sassoon Heskel continued to hold the position of the Ministry of Finance (September 1921) and held the same position
in the third Naqib ministry (August 1922 - November 1922), then the first al-Sa'dun ministry (November 1922 -
November 1923), then the first Yassin al-Hashimi ministry (August 1924 - June 1925).
Accordingly, the late Sassoon Heskel was the first to hold the Ministry of Finance in the emerging state of Iraq, and he
held it for about five consecutive years, with the exception of the period of the first military ministry (1923 - 1924).
Those years were a decisive stage in establishing financial structures and setting the state budget and its financial laws on a
firm and solid basis. Beside his extensive financial expertise, the deceased was very keen on the interest of the state, firm
in implementing the provisions of the law and in observing budget figures. He did not tolerate adding credits except for extreme necessity,
and thus he established the best precedent in consolidating the state's financial foundations.
Among the achievements for which Iraq remembers him with appreciation and admiration is that when he participated in 1925 with
- To be continued -
⟦For preservation⟧
⟦illegible⟧
- 2 -
The late Abd al-Muhsin al-Saadoun, the Prime Minister, in the oil negotiations with the Turkish Petroleum Company, which was known
later as the Iraq Petroleum Company, insisted on the necessity of paying the Iraqi government's share in gold currency. And it seemed
his insistence at that time was based on a strange point of view, because the Pound Sterling was based on the gold standard, but
this action benefited Iraq greatly after that, following the Pound's departure from the gold standard. Thus, it ensured
for Iraq the acquisition of millions of additional dinars.
The late Sassoon Heskel was elected as a deputy for Baghdad in the year 1925 in the first Chamber of Deputies, and
then he was re-elected in successive councils until his death. He held the chairmanship of the Finance Committee in the Council, and it was not long
after a while that he became like a ⟦father⟧ to the Chamber of Deputies in view of his parliamentary experience and advanced age. So he was referred
to in matters related to parliamentary traditions, and his opinion was taken in every dispute that occurred regarding the application of the internal regulations.
The late Sassoon Heskel was a far-sighted politician, widely informed, and of great standing inside
Iraq and outside it, for in addition to receiving financial sciences in Europe, he visited European countries and their capitals and spent
various periods in them and became acquainted with most of Europe's politicians and the people of power and influence there, so he had many friends among them.
He was proficient in a number of Eastern and Western languages in reading and writing, including, besides Arabic: Turkish,
Persian, Hebrew, French, English, and German, and had knowledge of Greek and Latin. His private library was
among the greatest personal libraries, containing the most precious books by major Eastern and Western authors on valuable and
rare subjects.
In appreciation of his great services, His Majesty the late King Faisal I bestowed upon him the Order of the Rafidain of the
civil type, second class. Before this, the Ottoman Empire had bestowed upon him the Distinguished Medal, and
His Majesty the Shah of Iran bestowed upon him the Order of the Lion and the Sun, and His Majesty the King of the English decorated him with the KBE with the rank of Knight,
and he came to hold the title "Sir".
In the summer of 1932, the deceased traveled to Paris for medical treatment. There, death overtook him on August 31, 1932,
and he was buried in the Père Lachaise Cemetery in the French capital. A memorial service was held for him in Baghdad on September 7, 1932.
⟦line⟧
14
The life of the late Mr. Sassoon Heskel.
Sassoon Heskel was born in Baghdad on March 17, 1860, and he belongs to
the Shlomo David family, known among Jewish families in Iraq for trade, wealth,
and prestige. His father, of blessed memory, the late Rabbi Heskel, was counted among
the senior spiritual Jewish scholars in Baghdad.
After Sassoon Heskel received his primary education at the Alliance Israélite school
in Baghdad, he traveled in early 1877 to Istanbul when he was seventeen years
old. His travel was in the company of the late Menahem Salih Daniel, who was elected
as a deputy for Baghdad in the first Ottoman Chamber of Deputies, which was elected during the era of
Sultan Abdul Hamid.
In Istanbul, Sassoon Heskel continued his studies and moved from there to the schools of London
and Vienna, where he received his higher education. In late 1881, he returned to
Baghdad and was appointed as a translator for the province, remaining in this position until 1904, when
the management of the River Administration was entrusted to him, which at that time belonged to the Saniyya Administration.
In 1908, following the declaration of the Ottoman Constitution, the subject was elected as a deputy for
Baghdad in the Ottoman Chamber of Deputies for the first time in 1908, and his election was renewed
until the end of the First World War and the separation of Iraq from Turkey in 1918.
During his tenure as a deputy, he demonstrated great parliamentary activity and served as a member of various special committees
in the Chamber and as chairman of the General Budget Committee. He was sent to London and Paris
on special missions. In 1913, he was appointed as an advisor to the Ministry of Trade and Agriculture (Public Works)
during the era of its minister, the late Sulayman al-Bustani.
Following the end of the First World War, the late Sassoon Heskel returned to Baghdad
in 1920. In the same year, the provisional Iraqi government was formed under the chairmanship of the late
Mr. Abd al-Rahman al-Naqib, and Sassoon Heskel assumed the Ministry of Finance in it.
In March 1921, the deceased was one of the members of the Iraqi delegation to the Cairo Conference
accompanied by the late Ja'far al-Askari, the Minister of Defense at the time. In that historic conference,
it was decided to lay the foundations of the future Kingdom of Iraq.
When His late Majesty Faisal I was crowned King of Iraq and the new ministry was formed
under the chairmanship of al-Naqib, the late Sassoon Heskel continued to hold the position of the Ministry of Finance
(September 1, 1921) and held the same position in the third al-Naqib ministry (August 1922 -
November 1922), then the first al-Sa'dun ministry (November 1922 - November
1923), then the first Yasin al-Hashimi ministry (August 1924 - June 1925).
Accordingly, the late Sassoon Heskel was the first to hold the Ministry of Finance in the emerging State of Iraq,
and he held it for about five consecutive years, with the exception of the period of the first military ministry
(1923 - 1924). Those years were a decisive stage in establishing the formations
- To be continued -
For the next
issue