Iraq Economic News and Points to Ponder Sunday Evening 10-22-23

Tlm724 Administrator Bondlady’s Corner

Iraq Recovers More Than 70 Million Dollars From A Bank In Switzerland

Money  and business  Economy News – Baghdad  On Sunday, the head of the Integrity Commission, Haider Hanoun, announced the recovery of more than $70 million from a bank in Switzerland.

Hanoun said at a conference reviewing the achievements of the Iraq Money Recovery Fund, that “70 million, 610,843 dollars were recovered from a bank in Switzerland, which was in the possession of the director of relations in the intelligence service in the previous regime, who died abroad,” indicating that “these amounts entered the state treasury.”

He added, "$26 million was recovered, which was hidden in Al-Rashid Bank. It is from the funds of Al-Huda Religious Tourism Company, which was established in 2000 and was in charge of transporting Iranian visitors and affiliated with the former intelligence service," pointing out that "the people who hid the amount will be held accountable." According to the law.”

He continued, "6 billion dinars were recovered by the United Bank for Private Investment, from which we had previously recovered 15 billion dinars out of the amount of 69 billion dinars due to a corruption operation by the Iraqi Export Support Fund affiliated with the Ministry of Commerce, as those responsible for the fund are currently being held accountable in addition to the director." The bank is called Fadel Al-Dabbas,” pointing out, “We are continuing to recover this entire amount.”

He stated that "5 billion dinars were recovered from the financial advisor to the former prime minister, and 1.5 billion dinars were recovered from the director general of the Central Refineries Company, which is part of the huge amount owed."

He confirmed that "the procedures to retrieve the former Babylon Health Director from the Emirates have been completed," pointing out that "we will conclude memorandums of understanding with Canada, China, and Spain, in addition to other countries."

He stated that "Iraq is making great strides in the field of combating corruption," stressing "the need for cooperation from citizens, the private sector, and investors who are subjected to blackmail."

Views 55 10/22/2023 - https://economy-news.net/content.php?id=37047

Integrity Announces The Recovery Of 5 Billion Dinars From The Advisor To The Former Prime Minister

 Politics  10/22/2023 Number of readings : 309  Baghdad - Iraq Today: The head of the Integrity Commission, Haider Hanoun, announced today, Sunday, the  recovery of more than five billion dinars from a former advisor to Mustafa Al-Kadhimi.

 Hanoun said in a conference reviewing the achievements of the Iraq Money Recovery Fund,  “6 billion dinars were recovered by the United Bank for Private Investment, from which we had previously recovered 15 billion dinars out of the amount of 69 billion dinars due to a corruption operation by the Iraqi Export Support Fund affiliated with the Ministry of Commerce.”

As those responsible for the fund are currently being held accountable, in addition to the bank director, who is called Fadel Al-Dabbas,” pointing out,

 “We are continuing to recover the full amount of this amount.”  He stated that  "5 billion dinars were recovered from the financial advisor to the former prime minister, and one billion and 500 million dinars were recovered from the director general of the Central Refineries Company, which is part of the huge amount owed." 

He confirmed that  "the procedures to retrieve the former Babylon Health Director from the Emirates have been completed," pointing out that "we will conclude memorandums of understanding with Canada, China, and Spain, in addition to other countries."  He stated that  "Iraq is making great strides in the field of combating corruption," stressing "the need for cooperation from citizens, the private sector, and investors who are subjected to blackmail."

  https://iraqtoday.com/news/76761/النزاهة-تعلن-استرداد-5-مليار-دينار-من-مستشار-رئيس-الحكومة-السابق

Health Announces The Inclusion And Recovery Of More Than 330 Million Dinars

 Local    Baghdad – IA  Today, Sunday, the Ministry of Health announced the inclusion and recovery of more than 330 million dinars.

 The Director General of the Ministry’s Inspection Department, Zaid Ali Abbas, stated in a statement received by the Iraqi News Agency (INA), that

“the investigative committees in the Ministry of Health’s Inspection Department were able to include and recover an amount of (330,195,000) dinars through investigation into a number of violations,” indicating that

 “The aforementioned amounts were distributed between including an amount of (318,132,000) dinars due to an exaggeration in the prices of purchasing laboratory materials above the prevailing prices, and recovering amounts estimated at (12,630,000) dinars.”  He added,

 "Our specialized staff in the Complaints and Investigations Department at the center of the department were able to resolve (241) investigative and audit committees that were centrally monitored in the Inspection Department during the past nine months of the current year 2023 for various administrative, engineering, and financial matters,"

stressing that  "all citizens and associates of owners are welcome." Complaints and examining the complaints or reports submitted by them, while  observing confidentiality while dealing with the complaints or reports received.”  He pointed out that "complaints are received through many mechanisms, whether through interviews or e-mail.

 Complaints are also received via phone lines designated for receiving complaints and installed in all health institutions."   https://www.ina.iq/195898--330-.html

Al-Sudani Directs To Activate The Work And Tasks Of The Payments Council At The Central Bank

Political | 04:07 - 10/22/2023   Baghdad - Mawazine News   Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani directed the activation of the work and tasks of the Payments Council at the Central Bank.

Al-Sudani’s office stated in a statement, a copy of which Mawazine News received, that “Prime Minister Muhammad Shia’ al-Sudani chaired a meeting devoted to discussing the completion of the unified treasury account, and following up on the electronic payment system and electronic card payment points/POS, in the presence of the Minister of Finance and the Governor of the Central Bank, The head of the Federal Financial Supervision Bureau, a number of advisors, and general managers of a number of government banks.”

He added, "The meeting witnessed a presentation and follow-up of the implementation of the unified treasury account, the level of progress in implementing and disseminating the electronic card payment system, and a discussion of the challenges facing public and private sector institutions and electronic payment companies."

He pointed out that "the facilities and incentives that can be provided to citizens and employing entities were reviewed, with the aim of encouragement, in addition to the overall measures taken, progress rates, and necessary requirements for completion, as Al-Sudani stressed the need to give priority to the goal of encouraging the government sector, and identifying negligent or lagging entities."

He continued, "During the meeting, the report containing a number of recommendations was approved, and it was decided to present it to the Council of Ministers."

Al-Sudani directed, according to the statement, “activating the work and tasks of the Payments Council at the Central Bank, and the importance of submitting a final report on the achievements to be presented to the Council of Ministers meeting.”

In terms of completing the unified treasury account, the Prime Minister directed, “Emphasizing all ministries to implement the fourth paragraph of Cabinet Resolution (3581 of 2023), and the necessity of accelerating the formation of committees and analyzing the non-active bank accounts for each of them, within one month.” End 29 /h   https://www.mawazin.net/Details.aspx?jimare=236729

Al-Sudani Chairs The First Meeting Of The Board Of Directors Of The Iraq Fund For Development

Economy |  10/22/2023  Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani stressed today, Sunday, the necessity of working with the mentality of the private sector.

A statement from his office received by Mawazine News stated, “Al-Sudani chaired, today, Sunday, the first meeting of the Board of Directors of the Iraq Fund for Development, which was voted on in the last session of the Council of Ministers.”

The statement continued, "The topics on the agenda were discussed, which included selecting the executive director of the fund, as well as reviewing the fund's initial work map."

The Prime Minister pointed out that "the fund, whose idea began in 2017, represents a modern interface for Iraq with international standards, stressing the necessity of not diversifying into many projects and focusing and starting projects that will have a tangible impact."

Al-Sudani stressed, “The necessity of working with the mentality of the private sector, especially since there are representatives of it on the Fund’s Board of Directors, who can contribute to proposals for the optimal mechanism for dealing with companies and facilitating their procedures.”

https://www.mawazin.net/Details.aspx?jimare=236737

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Points To Ponder on FEAR:

87. If you are facing a new challenge or being asked to do something that you have never done before don’t be afraid to step out. You have more capability than you think you do but you will never see it unless you place a demand on yourself for more. ~ Joyce Meyer

88. It’s okay to be crazy and scared and brave at the same time! ~ Kelly Epperson

89. But fear is confusing. It tears you in two. Half of you wants to run far, far away, but the other half is paralyzed, frozen, immovable. And the hard part is that you never know which half is going to win. ~ Melody Carlson

90. Whatever it is you’re scared of doing, Do it. ~ Neil Gaiman

91. As Grams treaded water, she tapped my forehead. ‘What’s in here, Poppy, is scarier than anything you’ll encounter in the depths of the ocean. An imagination is a powerful thing. ~ Shelley Coriell

92. What is fear after all? It is indecision. You seek some way to resist, escape. There is none. ~ Anne Rice

93. I am convinced that the deepest desire within each of us is to be liberated from the controlling influences of our own psychic madness or patterns of fear. All other things-the disdain of ordinary life, the need to control others rather than be controlled, the craving for material goods as a means of security and protection against the winds of chaos-are external props that serve as substitutes for the real battle, which is the one waged within the individual soul. ~ Caroline Myss

94. If we let things terrify us, life will not be worth living. ~ Seneca