KTFA Members "News and Views" Wednesday 6-21-2023

KTFA:

Clare:  The President of the Republic ratifies the Federal Budget Law

6/21/2023

Today, Wednesday, June 21, 2023, the President of the Republic, Abd al-Latif Jamal Rashid, ratified the federal public financial budget law.

Rashid stressed that approving and approving the budget is a turning point for the government to implement its program, which includes securing the necessary needs of citizens, providing basic services such as health and education, rehabilitating infrastructure and embarking on vital and strategic projects that will reflect positively on the reality of the daily life of citizens.

He pointed out the need to rationalize government spending, preserve public money, and develop and diversify the sources of the economy at a time when the country is facing economic and environmental challenges.

The President of the Republic also praised the efforts made to approve the budget from all parties, taking into account the important operational and investment aspects, and fairness to low-income groups, in a way that achieves social justice.

On June 12, the Iraqi parliament voted on the financial budget for the three years (2023-2024-2025), with a value of 198.9 trillion Iraqi dinars ($153 billion) for each year.    LINK

Turk182:  Does this mean we now move forward to posting in the Gazette ?

Clare:  IT IS LAW NOW THAT THE PRES. HAS SIGNED IT.  THEY WILL GET IT IN THE GAZETTE. THAT IS JUST A FORMALITY... IMO

Ryan1216:  Great news! We’re so close! IMO  

Turk182:  Wonder why the CBI hasn't jumped all over this, and flipped the switch already?  Thought that is all they were waiting for? 

Zeeman:  Turk this is good news now  the big question we are all waiting for will the cbi do it now or in the future?

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Clare:  THE PRESIDENT OF THE REPUBLIC STRESSES THE IMPORTANCE OF MAKING BAGHDAD AN INVESTMENT DESTINATION

6/21/2023

President of the Republic Abdul Latif Rashid stressed, on Wednesday, the importance of working to make the capital, Baghdad, a promising investment destination for investors.

And the Presidency of the Republic said in a statement received by the National News Center: “The President of the Republic, Abd al-Latif Jamal Rashid, received, today, Wednesday, the head of the Baghdad Investment Commission, Hassan Jamil.”

During the meeting, according to the statement, "a number of projects to be implemented in the capital, Baghdad, were discussed, where the president stressed the great task of the Baghdad Investment Commission to find opportunities for investment cooperation with sober companies."

The President of the Republic referred to "the importance of working to make the capital, Baghdad, a promising investment destination for investors, by building bridges of trust and cooperation in various sectors."

For his part, Jamil stressed, “The commission is keen to work diligently and leave a clear imprint in the field of investment in the capital, Baghdad, creating many job opportunities, introducing modern technology in building cities and residential complexes, and exchanging experiences with developed countries.”  LINK

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Clare:  The Integrity Commission arrests 46 owners of exchange companies on charges of currency manipulation

6/21/2023

The Federal Integrity Authority stated, on Wednesday, that its teams managed to seize 46 accused owners of private exchange companies. Against the backdrop of manipulation, forgery, and circumvention of the platform system for selling foreign currency.

The investigations department of the commission, speaking of the arrest operations it carried out according to judicial notes, indicated that it had formed teams in the directorates and offices of the commission's investigations in Baghdad and the provinces. To investigate and audit information received by it that includes some private exchange companies committing fraud and violations; To circumvent the platform system approved by the Central Bank of Iraq to withdraw foreign currency and sell it on the black market.

The department continued that its teams were able to launch an inspection campaign, and after investigations, investigations and audits, they overthrew (46) of the owners of money changers. Because they used the passports of citizens and uploaded them to the platform system approved by the Central Bank, and withdrew an amount of (2000) US dollars for each passport without the knowledge or approval of the holder of the passport and with a forged travel ticket, pointing to the absence of the customer’s documents and his signature on the form for disbursing the amount.

The department also indicated that the arrested were distributed among several governorates, where (20) of them were seized in the capital, Baghdad, and (8) in Basra, while (7) accused were arrested in Wasit, while the number of owners of private exchange companies who were seized reached In each of Maysan, Anbar, Muthanna, Najaf and Diwaniyah, there are two accused in each of them, and one accused in Babil governorate.

And she added that the teams were also able to seize dozens of transactions and passport records of private exchange companies, which showed that there were no signatures for the customer to receive the amounts in the records or transactions, warning that some of the owners of the transactions denied receiving the amounts, after they were contacted by the authority’s teams.

The accused, accompanied by the exhibits and the arrest reports, were taken to the judges of the investigation courts specialized in hearing cases of integrity. Those who decided to arrest according to different legal articles, while the judge of the Second Karkh Investigation Court decided to assign the Commission’s Investigation Department to form an investigative committee to conduct an administrative investigation into the procedures of the Central Bank of Iraq by following up the work of some private exchange companies.

The judge also decided to assign the aforementioned investigative committee to conduct investigations and clarify the shortcomings by checking the disbursement of money according to the tickets and the first passports seized by the commission and which it started authoring, according to the Integrity Commission.    LINK