KTFA:

Don961:  The Central Bank is discussing with the International Monetary Fund the latter's readiness to help Iraq

104 Economie 09/23/2020 09:22 ta  Baghdad today - Baghdad

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheif, held a meeting today, Wednesday, through visual communication with the International Monetary Fund, to discuss the latter's preparations in helping Iraq.

"During the meeting, topics related to the economic situation in Iraq and the readiness and willingness of the fund to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans were discussed," the Central Iraqi Media said in a statement received by (Baghdad today).

He added, "The fund's team also offered the congratulations of the fund’s executive director, Dr. Hazem Al-Beblawi, to the governor of the Central Bank on his assumption of the position."LINK

DELTA:  Taif Islamic Bank

FOR THE FIRST TIME IN IRAQ YOU CAN EXCHANGE DINAR WITH DOLLAR  BETWEEN YOUR ACCOUNTS........   

MW:  What are you telling us Delta??

StephenMac63:  Imo, demonstrating that an iraqi bank is able to issue travelers cheques in usd , therefor a way of self reconciliation in an international based transaction

Saddlebred:  INTERNATIONAL - Travel Abroad…woohoooo

SephenMac63:  Some may not see the fine print.....look at the routing number.....then google the number and see what the result is.

Ikaika:  Bank of new York Mellon

StephenMac63:  Can we say "mirror"? (smile)

Chappy86:  International Money Transfer

Sirenfire:  If you look closely they are also using IBAN system. …plus the 200 check lol ….looks like a win win to me imo 

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Samson:  Expert: We are heading to a major economic crisis, additional debts, and public pressure

08:40 - 09/23/2020

Economic expert Ihssan Al-Kinani said that Iraq is on the verge of a major economic crisis during the next year, pointing out that the government will resort to borrowing again amid public pressure and appeals to implement the people's demands.

Al-Kinani told "the information", that "the Corona pandemic has not ended and the oil market will need more time in order to recover, and that may need more than a year."

He added that "Iraq's dependence on oil to supplement the budget will lead to additional debts and the government's request to borrow again, and it may resort to making changes in the budget next year, and it will also delay its delivery to Parliament."

And that "the continuation of the status quo threatens to bankrupt the treasury of Iraq.", and it is better to go towards non-oil revenues such as real estate and the sale of lands to citizens, open the door to investment in infrastructure, cancel the current telecommunications companies, and bring in local companies whose revenues are for the state, and this alone will achieve the largest non-oil revenue that will supplement the budget with large sums."   LINK

Samson:  Foreign Ministry: Iraq recovered $ 25 million from Germany

23rd September, 2020

On Wednesday, the Ministry of Foreign Affairs confirmed the escalation of its steps to return the frozen funds from various countries, while indicating that the ban was lifted on 169 institutions and companies out of 230, specializing in various industrial, investment and productive sectors

"The ministry is pursuing frozen funds in various countries, as we succeeded in recovering more than 25 million dollars that were in Germany and it was handed over to the competent Iraqi national authorities," the ministry’s spokesman, Ahmed Al-Sahhaf, said in a statement reported by the official news agency INA. "Our steps in this direction are increasing and growing

He added, "The Ministry has made a great effort with national authorities at different levels, sectorally and according to jurisdiction, and in coordination with the permanent representation of Iraq in the United States of America, to follow up on legal procedures, coordinate and communicate with all parties, until we succeeded in lifting the ban on 169 Iraqi institutions and companies out of 230." Its business specializations span various industrial, investment and productive sectors

He explained that "the return of 169 Iraqi institutions and companies to service, which were suspended over the past years, according to Security Council Resolution 1518, are now back in service and the ban has been lifted. He stressed, "The re-activities of these companies and institutions will reflect positively on the level of investment, economic, industrial and production in Iraq

Al-Sahhaf noted that "our strategic vision in the ministry is to go far to include all Iraqi institutions and companies that are banned by lifting this ban," stressing, "We are nearing the ends to resolve this file

LINK

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Samson:  Deputy: Key Card is "the core of corruption" and recovering Iraqi money is an absolute priority

11:39 - 23/09/2020
A member of the Nasr Coalition, Representative Nada Shaker Jawdat, confirmed , on Wednesday, that Ki Card is the core of corruption in the country.

"Corruption is rampant in all parts of the Iraqi state, including ministries and institutions, without exception," Jawdat said in an interview with "the information", pointing out that the corrupt are affiliated with agencies that provide support to them, stressing that the Q-Card is the core of corruption in the country.

Jawdat added, “In recent days, some of those with financial and administrative corruption files have been arrested, but the most important thing for the Iraqis is to recover their money stolen by the corrupt, especially since the country suffers from a difficult economic situation created by the persistent corruption for many years to the point where many segments pay the price, calling for the honest Iraqi judiciary. The just thing is for him to have steps in retrieving money from the corrupt.

And Iraq suffers From a significant increase in financial and administrative corruption rates in recent years, causing great harm in terms of deteriorating basic services.  LINK

Samson:  Integrity: Preventing 27 billion dinars from being wasted within three months

23rd September, 2020

On Wednesday, the Integrity Commission disclosed the entirety of the seizures carried out by its investigation departments and offices within three months, calling on all citizens to report cases of corruption. In order for the Commission's teams to arrest those accused of the flagrante delicto

In a statement received by Al-Eqtisad News, the investigation department of the authority said, "The operations carried out for the period from 1/5 to 7/31/2020 indicated the implementation of (97) seizures in Baghdad and the provinces, which resulted in the arrest of (85) accused

The department explained that “the cadres of the Basra Investigation Directorate carried out (20) operations, including seizing (110) transactions for state-owned real estate valued at (5,000,000,000) billion dinars, which are sold at prices not commensurate with their real value, in addition to containers and trucks containing various materials intended for smuggling. It is not allowed to enter Iraq, as it is prohibited from importing

She added that "the Nineveh Investigation Directorate has carried out (10) seizures, the most prominent of which is the arrest of an accused person who impersonated a parliamentarian, contacting the Governorate Education Directorate in his personal capacity, as well as seizing employees in the Nineveh Health Department with exchange documents related to the operational budget that were disbursed against the law, And stopping the payment of the salaries of retirees with a ki-card, forcing retirees to replace their cards with a new card, and withholding sums of money in contravention of Cabinet Resolution No. 270 and the instructions of the Central Bank

And it indicated that “(147) fraudulent retirement transactions related to victims of terrorism were seized in the National Pension Authority - Anbar Branch, and the total amounts were (10,000,000,000) billion dinars, and the file of granting an investment loan in Najaf was seized at (7,000,000,000) billion dinars without adequate guarantees, and another loan. With (5,000,000,000) billion dinars, in return for a real estate guarantee previously provided by the same borrower for another loan, and its value is not sufficient to cover the loan amount

The department confirmed that “the activity of the field team in the health sector revealed the existence of suspicions of corruption in the contracts for the supply of testing equipment and diagnostic equipment for the Coronavirus, amounting to nearly (400,000,000) million dinars, which the Kirkuk Health Department contracted, pointing to the arrest of a number of people accused of trespassing and seizing property belonging to the state. In Kirkuk, and the defendants built residential homes and commercial stores on them

The authority called on all citizens to cooperate with it by reporting cases of corruption, bargaining and extortion that they may be exposed to during their visit to state institutions, by contacting the agency’s outlets designated for this, urging them to visit its official website. For ways to report corruption cases

LINK