KTFA:

Samson:  Al-Rafidain participates in the largest financial exhibition in Iraq, which will start tomorrow

07/01/2022 10:55:33

Al-Rafidain Bank is preparing to participate in the Iraq Finance Conference and Exhibition, which will be held on the grounds of the Baghdad International Fair tomorrow, Saturday, and will last for 3 days.

The media office of the bank stated, in a statement, that the agency {Euphrates News} received a copy of it, that "this important event is one of the largest exhibitions in Iraq, and alongside Rafidain Bank, many banks and other financial companies will participate in an event organized annually and collecting expertise in the banking field."

He pointed out, "This important financial forum in the banking sector is complementary to the activities of the Financial Inclusion Week, and the bank will present its many and varied products and services and marketing banking products to customers in this event, which aims to increase banking culture, open bank accounts, and promote small and medium enterprises for individuals, companies and other facilities, and everything else." related to spreading the banking culture.  LINK

ATPInfinity:  the activities of the Financial Inclusion Week, and the bank will present its many and varied products and services ... and everything else.  IMO THE RATE IS EVERYTHING ELSE!!!!!!

Al-Rafidain Bank is preparing to participate in the Iraq Finance Conference and Exhibition, which will be held on the grounds of the Baghdad International Fair tomorrow, Saturday, and will last for 3 days 

HAPPY 4TH OF JULY …DAY ONE.. DAY TWO …DAY THREE IS MONDAY

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Samson:  Political analyst: internally and externally acceptable criteria for choosing the prime minister

06/30/2022 22:41:33

  The political analyst, Haitham Al-Khazali, confirmed, on Thursday evening, the acceptability of the criteria for choosing the prime minister internally and externally.

  Al-Khazali told Al-Furat News that: “The first episode in forming the government depends on choosing the president of the republic, and he will return to the Kurdish house. The other is to come up after the feast with one candidate to vote on internally, i.e. a repetition of the 2018 scenario.

He referred to “setting criteria for the qualities of the prime minister; However, the names of the candidates for the position have not yet been presented, and I believe that the criteria are more reasonable and acceptable internally and externally." 

Khazali added, "There are many challenges facing the current and subsequent government, but I think some threats are matched by some opportunities.

There is a financial abundance that can address the issue of the exchange rate and the economic situation, improving services and covering social welfare by increasing its entitlements and covering it with health insurance.

There is international and regional acceptance due to the presence of energy sources and corridors that call for calm down."

He noted, "The political blocs now have a golden opportunity because of the financial abundance and international understanding of the government's work and the stability of energy markets, with a rise in prices due to the Ukrainian-Russian war, and there are understandings between Baghdad and the countries of the region. I think that everyone will contribute to the success of the government, and we hope to take steps focused on serving the citizens."

Mr. Al-Hakim called for giving priority to the public interest over private interests and the formation of a national service government capable of defining priorities and working to implement them according to an agile and short program. The head of the National State Forces Alliance also renewed his position not to participate in the next government, and to keep the role of wisdom limited to convergence of views between the political parties. LINK

DallasDude:  I won't walk by this one.."A FINACIAL ABUNDANCE TO ADDRESS THE EXCHANGE RATE AND ECONOMIC SITUATION "..let the chips and timing of this fall where they may..

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Khashan: The Election Law In Iraq Is Like A “Kleenex”

1st July, 2022

The independent deputy, Basem Khashan, described today, Friday, the election law in Iraq as a “Kleenex

Khashan wrote on Twitter, and Earth News followed him, saying, “The election law in Iraq is like the Kleenex, used for one time

Political reform does not begin without enacting a stable electoral law that enables the commission to be ready to hold elections in a maximum period of sixty days, in accordance with Article (64/second) of the constitution  LINK

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Samson:  Oil prices fall on recession fears

1st July, 2022

Oil prices fell, today, Friday, as persistent fears of stagnating demand cast a shadow over sentiment and put the benchmark crude on track for its third consecutive weekly loss

Brent crude futures fell 20 cents, or 0.2%, to $108.83 a barrel, giving up gains of more than a dollar earlier in the session

West Texas Intermediate crude futures for August delivery fell 37 cents, or 0.4%, to $105.39 a barrel, giving up earlier gains during the session, which amounted to nearly a dollar

The OPEC + alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent producers, including Russia, agreed to adhere to the applied production policy after two days of meetings, but the alliance avoided discussing production policy from September onwards LINK

Samson:  The Ministry of the Interior reveals the existence of families who rent their children to beg for 25 thousand dinars per day

30th June, 2022

Thursday, the Ministry of Interior identified three categories of beggars, while revealing that there are families who rent their children to beg for 25 thousand dinars per day.

The Director of Community Police at the Ministry, Brigadier General Ghaleb Al-Attiyah, said that "the phenomenon of begging has increased in Iraqi society, due to several reasons, the most important of which is domestic violence," noting that "there are families who tempt their children to beg for 25 thousand dinars per day."

He added that "there are three categories of beggars, the first includes the real poor, the second includes the youth group and their reasons are often psychological, and the third, which is the most dangerous, includes mafias and gangs that lead groups to beg," noting that "according to statistics, the majority of beggars are from this category." The first (the poor)".

He stressed that "the security forces continue to pursue them if a gang for begging is arrested daily."  LINK

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Samson:  The Central Bank : Implementing binding measures to combat money laundering and terrorist financing

1st July, 2022

The Central Bank of Iraq revealed, today, Friday, its measures in the field of combating money laundering and terrorist financing, confirming that it had also issued binding decisions in this regard.

The representative of the Anti-Money Laundering and Terrorist Financing Office in the Central Bank, Hussein Al-Mukarram, told the Iraqi News Agency (INA), that "Iraq's procedures regarding combating money laundering and terrorist financing are represented in the issuance of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and many regulations, instructions and controls. Circulars and guidelines in particular, all of which have been issued in light of international requirements and standards and in compliance with local requirements.

He added that "the identification of the supervisory and supervisory authorities on the business sector and the specific non-financial professions has been completed and the due diligence controls for combating money laundering and terrorist financing have been prepared for each sector, the last of which is the real estate sector."

 He stressed that "there are decisions that included obligating all financial institutions to form departments to report suspicious financial transactions and give them independence in their tasks, and to prepare a guide for policies and procedures to combat money laundering and terrorist financing in light of which work is carried out and to be available to all workers in financial institutions."

He added, "The procedures also included obligating financial institutions to acquire electronic systems to combat money laundering and terrorist financing for the purpose of extrapolating the monitoring of suspicious financial operations and reporting them to the Anti-Money Laundering and Terrorist Financing Office," noting that "Iraq is committed to all international requirements to combat money laundering and terrorist financing issued by the working group." Finance (FATF), in addition to completing the conditions for joining the Egmont Group. He pointed out that "many specialized training courses have been held in combating money laundering and terrorist financing, combating financial crimes, penalties and bans, and employees of banking and non-banking financial institutions have been involved in them."

And he indicated that "the measures taken by the Anti-Money Laundering and Terrorist Financing Office at the Central Bank of Iraq, including:

1. Acquisition of the (go-AML) system, which is concerned with receiving reports and financial data through electronic linkage with all the parties obligated to report.

2. Preparing systems and databases for the office, which includes data and information from other parties that help analysts to complete the financial investigation procedures 

3. Holding memoranda of bilateral cooperation with various parties within the anti-money laundering and terrorist financing system to facilitate the exchange of information, and concluding several memoranda of understanding with counterpart units in other countries similar to the work of the office.

4. Continuing to train employees of other sectors in ministries, government departments and the public sector for the purpose of spreading awareness of combating money laundering and terrorist financing based on the comprehensive training plan prepared by the office for this purpose, and the office continues to involve its employees in workshops and training courses offered by various organizations. 

He explained that “these procedures resulted in an increase in the number of suspicious financial transactions received by the Office from various entities obligated to report, which resulted in an increase in the reports submitted by the Office to the Public Prosecution Presidency to take the necessary action.

Regarding it, there were (15-25-34-24-39) reports during the years (2017 and 2021) respectively, and each report included a number of reports on a number of companies and people, and this increase was reflected in the issuance of a large number of convictions by the competent courts. 

He stressed that "the increase in the referred reports is a result of the measures taken to encourage financial institutions to report suspicious transactions and exchange information with law enforcement agencies, which contributed to the completion of the analysis of those transactions and the identification of suspicions of money laundering and terrorist financing."  LINK