KTFA:

Samson:  In the document.. the Central Bank decides to stop dealing in dollars with private banks

07/11/2022 13:06:55

The Central Bank of Iraq informed the unauthorized financial institutions and authorized banks to stop dealing in dollars with four private banks for auditing purposes, with it permissible to deal with them in other currencies.  LINK

ATPInfinity:  BOOM!!!!! THIS LOOKS LIKE A REALLY HUGE MOVE...WHY NOW?? OTHER CURRENCIES?

Samson:  Al-Sudani stresses the need to return the stolen money

7th November, 2022

Today, Monday, Prime Minister Muhammad Shia Al-Sudani stressed the importance of security redeployment in cities, the rule of law, and the imposition of state prestige, while stressing the necessity of returning the stolen amounts.

The Media Office of the Prime Minister stated in a statement: "Prime Minister Muhammad Shia Al-Sudani met with the Chairman of the Parliamentary Security and Defense Committee, Jawad Al-Bolani, and a number of its members." He added, "During the meeting, the overall security situation in the country was discussed, particularly the issues of the displaced, the job rotation of security leaders, and the file of defense mobilization."

Al-Sudani stressed, "the importance of security redeployment in cities, the rule of law, imposing the prestige of the state, and stressing the need to distance security institutions from partisan and political investment, expressing his confidence that the government curriculum is dedicated to addressing citizens' demands." 

With regard to combating corruption, Al-Sudani stressed that "the stolen amounts must be returned, and that there will be no credibility from anti-corruption efforts unless we prove to the Iraqi citizen the possibility of recovering and protecting these funds." LINK

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Samson:  Money laundering inflames the real estate market..the sources of funds are a puzzle in Iraq

7th November, 2022

The phenomenon of money laundering spread after 2003, after the corrupt and chaotic environment created the atmosphere for the looting of public money, and although Iraq succeeded in exiting the European Union’s list of countries with high risks in the fight against money laundering, the phenomenon still continues internally. Extensively, which explains the staggering rise in real estate prices in Baghdad and the provinces, as well as profitable projects such as malls, luxury restaurants, nightclubs, and even some private universities.

The process of money laundering is the transfer of funds resulting from the practice of illegal activities to balances that have a sound legal appearance in terms of their sources.

Representative Mustafa Sanad said in a tweet on Twitter: Dirty money networks mixed with clean money, real estate, malls, hotels, commercial complexes, banking and others. The singer commented on the banks of our heavens, saying that some of those who sold these properties do not know the source of the money, but the majority know well.

In Iraq, the methods of money laundering vary according to its value and the influence of its owner. Influential people whose thefts are commensurate with the value of their positions work to get their money out of the country, while those with less influence and theft work to recycle it at home.

It helps in money laundering operations, the failure and corruption of banking systems, the adoption of undeveloped financial control techniques, and the scarcity of information regarding external transfers of Iraqi funds.

One of the methods of money laundering is the purchase of some banks from the daily auction of the Central Bank by submitting forged documents that prove that the party that buys the dollar has imported goods or services or paid abroad sums for certain things.

Banks are accused of smuggling money on a large scale. Writer Jawad Al-Hindawi says: A person suggested to me two years ago that he register a banking company in my name for $12,000, but after inquiry, it became clear that most companies have names other than their owners and they are just a front.

Economic expert Salam Sumaisem says that there are losing deals in which the launderer enters in order to launder his money, in which the loss reaches 50%.

Kurdish MP Sarwa Abdul Wahed said during a televised interview that the countries (Aisha) are benefiting from money laundering in Iraq.

And journalist Maher Karim tweeted, saying: Money laundering was in the past years in Lebanon and the Emirates, but after the two doors were closed, it turned to Iraq.

The writer Mahdi Al-Safi explained that Iraq is required to conclude security agreements and money laundering crimes with the rest of the countries, especially the incubator of smuggled money from countries such as Jordan, Turkey, Lebanon and the UAE, to recover the stolen money.

In an indication of the alliance of corruption with mismanagement, Parliamentary Integrity revealed regarding the stole trillions scandal that the Money Laundering Office knew and did not act, referring to collusion with those involved or failure to perform their duty.  LINK

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Samson:  Al-Saffar: The 2023 budget is the largest in the history of Iraq... and advice to the Sudanese

06/11/2022 23:35:55

The former decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, described the 2023 budget as "the largest in the history of Iraq."

Al-Saffar said; For the program {Al-Mastra} broadcast by Al-Furat satellite channel this evening: “The budget has rules, principles and assets, and the most important rule in it is the annual and the exceptional, which are less than a year and there are budgets for more than a year to face a state of stagnation or budgeting for economic cycles.”

He added, "The budget is not a financial document, but rather an economic plan that reflects the economic reality of the country, and its preparation should start from the smallest institutions to the top of the pyramid, that is, each department is being budgeted and then gathered in the management of the Ministry of Finance and sent to the Council of Ministers."

Al-Saffar continued, "The budget of goals and programs is consistent with the ministerial curriculum of the Sudanese government and the treatment of poverty and unemployment does not take place in a one-year budget, and a specific amount of the budget can be allocated to implement the five-year plan, as we have more than 6,000 idle and lagging factories."  He pointed to "the importance of converting the financial abundance into productive investment plans to get rid of unemployment," referring to the 2023 budget, "the largest in the history of Iraq, and the Sudanese must distance political interference from it, and it needs a will and a competent administration."

Al-Saffar concluded by saying, "The development plan requires capital, a competent administration, and no political interference, and the Sudanese must be given the full opportunity to implement his program."   LINK

Samson:  Iraq obtains the approval of the International Energy for the construction of 8 nuclear reactors

06/11/2022 23:40:55

 The head of the Iraqi Commission for the Control of Radioactive Sources, Kamal Hussein Latif, announced that Iraq had obtained the approval of the International Atomic Energy Agency, in order to establish eight nuclear reactors to produce electric power, noting that no agreement had been reached with any company so far to accomplish The project.

Latif said: "We have prepared a complete project to produce electricity through nuclear energy. At first, we will construct eight nuclear reactors that can produce 8000 megawatts of electrical energy, which is equivalent to 25% of Iraq's needs," adding that "we are still in the initial steps so far and we are waiting for the government." on this matter.”

Yesterday, Saturday, Ilya Polov, the economic advisor at the Iraqi embassy in Russia, told the Russian agency (Novost) that "Iraq and Russia will sign a memorandum of understanding on the use of nuclear technology, soon." But the head of the Iraqi Commission for the Control of Radioactive Sources confirmed that "there has been no agreement so far with any company from any country to set up that reactor," and they are waiting for the government to take the next steps, noting that "the sites where the reactor will be established have been identified."

With regard to alternative energy, Latif said that Iraq has concluded agreements with a number of companies to produce electricity through solar energy, noting that by 2025 Iraq will be able to produce 3000 megawatts of electrical energy from solar energy.

Since 2003, Iraq has spent nearly 80 billion dollars to develop the electrical sector in the country, and it currently produces 24,000 megawatts of energy, and provides citizens for six hours a day with national electric power, while the country needs 32,000 megawatts to meet its need of electricity. 

The head of the Iraqi Authority touched on the production capacity of the eight reactor to be established, noting that "the construction of these eight reactors is scheduled to be completed by 2030, and its production capacity is likely to be greater than that, i.e. between 8 to 10 thousand megawatts of electrical power, so it can Securing 14% to 25% of the electricity that Iraq needs.

Latif called on the Kurdistan region to prepare a special plan in this regard, noting that "I know that there is an attempt in the Kurdistan region to produce electrical energy from solar energy. It is important that this be accomplished effectively, and that the Kurdistan region takes steps in this field." He said: "I visited the Kurdistan Region, and there were very good places for this purpose, especially in Erbil Governorate, so it is good if it started producing at least 100 megawatts of energy."  LINK