"Final Requirements" Delta, MilitiaMan and KTFA Members 10-21-2020

KTFA:

DELTA:  Central Bank Governor Mustafa Ghaleb Makhaif discussed, on Wednesday, the final requirements for Iraq to join the European Bank.

Central Bank of Iraq met in the capital, London, today, Wednesday, with the Governor of the Bank of England, and the meeting dealt with ways to develop banking relations and increase the volume of investment transactions between the two countries as well as the importance of cooperation in the field of combating money laundering. Financing terrorism and overcoming obstacles that hinder the process of opening branches for foreign banks operating in Iraq. "

He added that the governor "met, within the framework of his visit to the United Kingdom, with the two international auditing companies Ernst & Young and PWC, where he discussed with them enhancing the volume of work with the Central Bank of Iraq because of these companies' experience and reliability," stressing his keenness to "maintain the relationship with them during the coming period."

"The governor concluded his meetings with the Secretary General of the European Bank for Reconstruction and Development (EBRD), and the meeting included discussion of the final requirements for Iraq's accession to the European Bank, as well as their desire to deal with private Iraqi companies and banks.

Buckeyetree:  Wow Delta's news on Kazemi and European banks sounds very exciting.

Will:  final requirements, aka, show me da money

MilitiaMan:  This sure looks like to me the Final Requirements is a rate to follow suit. The Final Requirements may need not only the rate but, the NSCNs (LD’s) .. I imagine FRANK is smiling like a Cheshire Cat.. This is WSs (WalkingStick’s) bank meeting imo.. Wow!! Holy moly.. imo ~ MM

Samson:  Iraq protests ... report: They will return with greater momentum and clear political demands

With the passage of a year since the commemoration of the outbreak of popular protests in Iraq, experts and analysts expect that these demonstrations will return in a more violent form and include other regions, with the worsening of the economic and security conditions, and after the inability of the current government to meet the basic requirements of the demonstrators. 

According to a report published by the "Atlantic Council", the coming weeks may witness a renewal of the popular protests that erupted in October of last year, killing about 700 people and injuring and arresting thousands of protesters. Iraqi researcher Raghad Qasim, who prepared the report, explained that the demonstrators and activists should be wary of spoilers who might frustrate or hijack the direction of the demonstrations in an attempt to influence events in their favor.

She indicated that the government would be able to control the situation if it committed to protecting the demonstrators, maintaining peaceful demonstrations, and taking bold steps to expose those involved in any escalation.

The report confirms that the Iraqi government headed by Mustafa Al-Kazemi is under great pressure, as it faces many challenges resulting from the health and economic crises due to the Corona virus pandemic, and the drop in oil prices, in addition to the expected renewal of protests that will have "far-reaching consequences", especially given that popular demands It no longer focuses only on social and economic issues, but has gone beyond the political aspect, to demand the passage of a modern election law and early elections.  LINK

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Samson:  Parliamentary Finance: One trillion Iraqi dinars from the currency auction does not enter the treasury

10:50 - 10/21/2020
The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed, on Wednesday, the obscene profits achieved by the window of selling the currency auction, indicating that there are more than one trillion Iraqi dinars that are not included in the state treasury.

Al-Saffar said in a statement to / the information /, that "it is necessary to review the mechanisms and controls of currency auction work to benefit from the money," indicating that "the Finance Committee tried in every way to stop wasting the auction of selling the currency to no avail." He added that "there are obscene imports that are supposed to be entered into the state treasury through customs taxes," noting that "the dollar is sold to merchants in exchange for manifests that prove the entry of goods and goods into Iraq by selling the dollar as an average."

Al-Saffar explained, "The monthly currency auction profits are not less than one trillion Iraqi dinars as taxes, and this amount does not enter the state treasury." The Parliamentary Economic Committee had called earlier in the review of the mechanisms and controls of the currency auction to take advantage of public funds instead of the acquisition of corrupt and theft of public money from them.   LINK

Samson:  41 trillion dinars ... the Iraqi parliament is stunned by the amount of the borrowing for three months

21st October, 2020

A member of the Parliamentary Economy and Investment Committee, Nada Shaker Jawdat revealed, on Wednesday, that the amount that was specified in the borrowing law amounted to 41 trillion dinars, indicating that the Parliament is working to amend this amount.

Jawdat said in an interview with Shafaq News that "the borrowing law so far in the Iraqi parliament is being fully studied," indicating that the required amount in the borrowing law is 41 trillion dinars for the remaining three months of this year.

And she continued, "This figure is huge for a short period, while the amount of 51 trillion dinars has been spent for the past nine months, and therefore the House of Representatives will approve the law, but after it adjusts the amount."

Jawdat indicated that "the government had previously borrowed 15 trillion dinars to cover the salaries of employees, at the rate of ten trillions from the inside and five billion dollars from abroad," stressing "the difficulty of borrowing from abroad because there is no country that agrees to lend Iraq in this economic situation that the latter suffers." And the Finance Committee announced, on Monday, that it had agreed to refer the borrowing law to the Presidency of Parliament for its first reading.

The Cabinet Secretariat sent a draft law on financing the fiscal deficit to the House of Representatives, relating to internal and external borrowing. Last month, the government approved the draft fiscal budget bill and sent it to Parliament, before withdrawing it again to make amendments to it, to be replaced by the Fiscal Deficit Financing Act to Parliament.  LINK

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Samson:  Change: Iraq possesses important documents on money smuggling abroad

21st October, 2020

The head of the Change Bloc in the House of Representatives, Yusuf Muhammad, admitted, on Wednesday, the existence of important judicial and banking documents on smuggling Iraqi money abroad through the spoilers, expecting that its value would reach tens of billions of dollars.

Muhammad said in a statement that Alsumaria News received, a copy of it, "It is necessary for the authorities to take strict measures against the corrupt and stop the bleeding of Iraqi funds through corruption, in parallel with implementing what is found in the white economic reform paper."

He added, "The financial situation in the country requires difficult and bitter decisions in restructuring the economy in the country," noting that "these reforms have no value without there being decisive measures to fight corruption."

The head of the Change Bloc in the House of Representatives called for "attaching great importance to the file of recovering Iraqi money smuggled abroad after 2003 during the next stage, and for the political class in the country to assume its responsibility towards the economic crisis, and to help return those money through the information it possesses about it."

He stressed, "The presence of important documents in this file through which the existence of these funds and their value can be inferred, in cooperation with European expertise that the government can use in order to uncover them." Smuggled money obtained through corruption."  LINK

Bravo13:  i’ve always thought that one of the main objectives of the gov would be to recover these tens of billions of dollars before the rv, it doesn’t look like they will get this done if this rv’s as soon as we expect,there is going to be a lot of very rich thieves when this revalues like Maliki, can’t believe that man is not behind bars yet !

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Samson:  Kurdish MP: 12 thousand people receive illegal pension salaries in the region

16:22 - 10/21/2020

The head of the Future bloc and Kurdish MP Sarkut Shams al-Din considered, on Wednesday, that the Pension Authority in the Kurdistan Region is one of the largest institutions of corruption within the region.

Shams al-Din told / Al-Maaloumah / that “12 thousand people receive retirement pensions with the rank of general manager inside the region through illegal means, and most of them are outside Iraq,” considering that “the retirement authority in Erbil is the most corrupt.”

He added that "these were calculated pension salaries for them through the ruling authority parties in the region, and they were basically not employees within the ministries and institutions, but partisan service was calculated for them, and their salaries were very high, and this is the simplest corruption process inside Kurdistan."

On Monday, the deputy for the parliamentary Change Bloc, Ghaleb Muhammad, revealed that there are more than half a million space employees who receive salaries in the region unlawfully, indicating that the Change Bloc participated in the government in order to reform the political system.   LINK