Iraqi News Friday PM 9-17-21
Iraqi News Friday PM 9-17-21
TLM724 Administrator BondLady’s Corner
The Stolen Funds Recovery Conference Recommends The Formation Of An International Bloc To Urge The Countries Custodians Of Smuggled Assets To Cooperate And To Identify The Countries That Abstain From Them
Thursday 16 September 2021 20:31 | political Number of readings: 155
Baghdad / NINA / - The Federal Integrity Commission disclosed the outcomes and recommendations of the International Conference on the Recovery of Stolen Funds held in Baghdad for the period from 15 to 16/9/2021, explaining that the conference came out with a number of important recommendations,
the most prominent of which was the demand to form an international bloc; To urge the countries custodians of the smuggled assets to cooperate and to identify the countries that abstain from them.
In the final statement of the conference, held under the auspices of Prime Minister Mustafa Al-Kazemi and in the presence of the Secretary-General of the League of Arab States (Ahmed Aboul Gheit), and Arab judges and ministers of justice, the head of the Commission, Judge Alaa Jawad Al-Saadi, stated that the purpose of its meeting was to find the best and easiest ways to recover the looted funds from Arab countries.
As a result of the rampant corruption in some institutions of those countries, and the implementation of the procedures for establishing an international judiciary specialized in corruption and money recovery issues,
pointing out that what is stolen and wasted from the looted money is the people’s money and not the money of the rulers and ruling regimes,
pointing out that the constitutional principles that Arab states include Protect the wealth of future generations and preserve it from tampering.
And he stressed the keenness of the Republic of Iraq, by holding this conference, to benefit from the best and beneficial global and Arab experiences in the field of combating corruption, especially the file of recovering smuggled funds, in which scientific research and research papers presented in its themes and sessions addressed the methods of treatments, and what are the ways to be followed.
In order to gain access to the looted funds that the political influence managed to cover up, and to provide safe havens for them in some countries under the headings, including: investment and other forms such as money laundering and laundering.
He noted the best experiences presented during the conference in recovering funds, through which they discussed the method of criminal prosecution of the corrupt, the administrative methods used in bilateral agreements between states, and ways to resort to civil justice;
To demand the recovery of money laundered through fraud, and to prosecute the corrupt who have caused damage to public facilities by committing corruption crimes.
The activities of the second day of the conference sessions witnessed a review and discussion of a group of research and working papers submitted to the axes of (the Iraqi experience and international cooperation in the field of looted funds recovery) and (international experiences and practices in recovering looted funds).
The sessions of the first axis were chaired by the Vice President of the Federal Integrity Commission, Dr. ( Mazhar Turki Abd), and to enrich the two axes; They were presented with research, studies and working papers,
including the research paper submitted by the Director-General of the Recovery Department at the Commission, Dr. (Moataz Faisal Al-Abbasi), tagged (the Iraqi experience and international cooperation in recovering looted),
during which he discussed the experience of the Iraq Funds Recovery Fund, reviewing the contents of the Iraqi experience in recovering funds.
The convicts, and the accompanying successes and difficulties, as well as the papers contained in the two axes that shed light on the best Arab and international experiences in recovering money and convicts and prosecuting the proceeds of corruption.
He stressed that the conference, which is an important regional initiative in the field of anti-corruption and money recovery, came out with a number of recommendations, including:
International pressure conglomerate industry; To work with the countries that are custodians of looted funds and assets, and whose refusal to cooperate is confirmed in accordance with the provisions of Chapter Five of the UN Convention against Corruption;
In order to push it to cooperate to return the money and the convicted persons, provided that the bloc seeks to use all national and international procedures, including the formation of international courts specialized in the issue of recovery, and the issuance of a bulletin on countries that refrain from providing assistance, as well as emphasizing the principle of good faith in implementing international legal obligations in The field of recovering looted funds,
and what is required for the return of illegally obtained funds and assets to the country requesting recovery, and the assistance of international research institutions concerned with the recovery of looted funds, and the assistance of international research institutions and legal offices to obtain technical support in the field of recovering looted funds, expediting the activation of the provisions of the two UN conventions And Arabic to combat Corruption with importance given to provisions related to money recovery,
finding unconventional means in the matter of money recovery, combating corruption, benefiting from Arab cooperation mechanisms and confiscation not based on criminal convictions, encouraging the conclusion of bilateral agreements between countries and calling on the Arab Center to prepare indicative models for these agreements. https://ninanews.com/Website/News/Details?key=927569
'NAS' Publishes The Full Text Of The Recovery Of Iraqi Funds
2021.09.16 - 20:16 Baghdad – Nass NAS, Thursday, publishes the full recommendations carried out by the curiosity of Iraqi funds.
NAS on Tuesday .. Our latest updates first
The Integrity Authority said in a statement received a copy of 16 September 1621.
"The purpose of reaching the best and easier ways to recover money from Arab countries who are on the rampant corruption in some of the institutions of those countries, and to conduct procedures for the establishment of international judiciary specialized for corruption and recovery issues, pointing out that" What steals and wastes of alleged funds are the money of peoples, not the funds of referees and ruling regimes, "he said, adding that" the constitutional principles contained by Arab constitutions have to protect the fortunes of future generations and maintain them from tampering."
By holding this conference, "he said. In order to reach alleged funds that enable political influence of coverage, and provide safe havens in some countries under addresses, including: investment and other images and whitening."
He noted what was presented during the conference of "virtually experiences in recovery of funds, through which the criminal trial method has been addressed, and the administrative methods used in bilateral agreements and ways to resort to civil justice; to demand the recovery of funds whose fraudulent and corrupt prosecution Who have damaged public facilities by committing corruption crimes. "
The second day of the conference was "a review and discussion of a group of research and work."
(Turkey's appearance), and to enrich the axis; they provided for research, studies and workshops, including paper paper submitted by the Director-General of the Refugee Department of Dr. (Moataz Faisal Al Abbasi) tagged (Iraqi experience and international cooperation in the recovery of alleged) Iraq, a browser of Iraqi experiment in recovery of funds and convicted, and accompanied by success and difficulties, as well as those who guarantee the papers highlighted the Arab and international experiences in recovery of funds and conventions and prosecution of corruption revenues. "
Conference recommendations
An international compressor industry; To work with incubator countries for funds and alleged assets, which refrain from giving cooperation in accordance with the provisions of Chapter V of the United Nations Convention against Corruption; In order to push them to cooperate to re-funds and convicted persons to seek to use all national and international actions.
Composed international courts specializing in the subject of recovery, and issuing a bulletin on the country of assistance, as well as emphasizing the principle of good faith in the implementation of international legal obligations in the field of recovery of alleged funds. International institutions concerned with the recovery of alleged funds, the use of international research institutions and legal offices for technical support in the field of curious funds.
Accelerate the provisions of the United States and Arab Convention against Corruption with the importance of the provisions relating to the retrieval of funds and to find non-traditional means in the matter of recovery of funds and combat corruption and take advantage of the mechanisms of Arab cooperation and confiscation not based on a penal condemnation and to promote bilateral agreements between States and the invitation of the Arab Center To prepare guidance models for these conventions.
https://www.nasnews.com/view.php?cat=69891
The Start Of The Insurance Reform Conference In Iraq
Thursday 16 September 2021 138 Baghdad: Hussein Thaghb Yesterday, Wednesday, the work of the first annual international scientific conference “Insurance Sector Reform in Iraq, Reality Challenges and Future Opportunities” kicked off.
Finance Minister Ali Allawi said in his speech at the opening of the conference, which was held under the slogan (Economic reform is our way to improve the performance of financial institutions), and which concludes today, Thursday: {Insurance in the world represents an important and supportive sector in the process of economic development}, pointing out that {the market Insurance consists of 41 companies, of which 29 are actually operating and 29 are active.
He stressed the importance of developing the insurance environment in Iraq in a clear and transparent manner, and that the role of the state should be an organizer for this sector and a guarantor of the rights of all parties.
He stressed the importance of organizing a media campaign that supports steps to develop insurance performance and raises the insurance culture in the country, especially since insurance has become an industry that provides services to customers and serves Economy}.
In turn, the head of the Insurance Bureau, Israa Saleh, said that {the insurance sector is supportive of all sectors, and it has declined during the past decades due to previous policies, wars and siege, which negatively affected this important sector}. And {Al-Sabah} will deal with extensive details in the issue next. https://alsabaah.iq/54462/
Calls To Diversify Revenues And Develop Collection Systems
Monday 13 September 2021 175 Baghdad: Haider Falih Al-Rubaie
Economists stressed the need to seek to diversify the country’s financial resources, and work to activate the non-oil productive sectors, especially industrial and agricultural, warning of the dangers of maintaining the “rentier economy” in financing public budgets, and while they stressed that the process of diversifying revenues depends primarily on developing At the same time, they demanded the importance of moving the industrial wheel in the country and supporting the private sector.
The government is working continuously to “revive” the economic reality by supporting the private sector and enhancing its capabilities, which was confirmed earlier by Minister of Planning Khaled Batal, who announced the preparation of a number of economic laws that will contribute to supporting the private sector.
non-oil revenue
The economic expert, Manar Al-Obaidi, pointed out during his speech to Al-Sabah that “despite the government’s adoption of a policy of diversifying non-oil revenues in the 2021 budget, amounting to 20 trillion dinars, representing 20% of total revenues, the actual figures still show the total dependence on Oil revenues,” noting that “the latest data issued by the Ministry of Finance showed that non-oil revenues amounted to only 8% of total revenues, and did not achieve more than 3.9 trillion Iraqi dinars, although they achieved revenues during the same period in 2019.” 4.2 One trillion Iraqi dinars, and accordingly, it is not expected that non-oil revenues will achieve more than 7 trillion dinars during the current year.”
Threatening the economy
Al-Obaidi believes, "The continued dependence on oil revenues in a large way represents a challenge for the state, especially as it is linked to external factors related to the volume of demand and supply, as well as price fluctuations, which poses a threat to the Iraqi economy."
The economist urged the Need To “Diversify State Revenues In Order To Stabilize The Economy,” calling for “activating the productivity of these revenues, which is mainly represented by customs tariffs, as well as revenues coming from producing and profitable public sector companies, as well as moving the field of tax collection, which is still declining compared to the previous year. previous years.”
systems development
Al-Obaidi explained that the process of diversifying revenues depends primarily on the development of collection and follow-up systems, and control of border crossings, in addition to trying to exploit other natural resources such as sulfur, phosphate and the rest of the minerals available in Iraq and working to establish strategic industrial projects capable of providing the state with large revenues.
He urged the economist, "to set up an investment fund to provide a new type of revenue very quickly, especially as it depends on investing in international companies that achieve high profits and risk rates that are somewhat low."
Diversification of revenue
The economic affairs specialist, Ali Karim Ithib, stressed the need to work on “diversifying financial revenues, and moving away as much as possible from the oil rent, which constitutes about 98% of the volume of financial revenues of the federal budget.”
Iheeb explained, "Iraq Has The Ingredients That Qualify It To Be Among The Great Economies In The World,"
noting at the same time that "the industrial sector constitutes 29% of the volume of GDP, while the agricultural sector constitutes 30% and tourism 40%,"
indicating the possibility that Some industries such as “phosphates, sulfur, papermaking and plastics” play a pivotal role in increasing the country’s non-oil financial revenues.
https://alsabaah.iq/54235/
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