KTFA:

A government meeting to complete the project to modernize public financial management systems

25th August, 2022

Thursday, the Ministry of Finance held an expanded meeting to complete the project to modernize public financial management systems.

A statement by the ministry stated that Mawazine News received a copy of it, that "the Minister of Finance and Agency Ihsan Abdul-Jabbar chaired an expanded meeting to complete the stages of preparing the project to modernize the public financial management systems IFMIS, with the participation of members of the project's steering committee and the head of the project management team PMT, and the AARC consultancy company for the ICC contract, in the presence of the Undersecretary of the Ministry and directors of the departments concerned with the implementation of the project.

The statement added, "During the meeting, reports related to the project's work were reviewed in terms of studying the market and potential risks, as well as approving the outputs of the first phase of the project, in addition to discussing the strategic factors for the success of the IFMIS project (19??), and providing all means within efforts to complete it in a manner that ensures its safety from various potential strategic risks.

He pointed out that "the basis for implementing the digitization of financial management was discussed during the meeting, which includes implementing the first phase of the integrated financial management system, presenting new ways of working to be implemented through new tools and practices, in addition to integrating and simplifying public financial management processes, as well as enhancing planning, strategy and optimal use of financial resources.

According to the statement, Abdul-Jabbar stressed that "the application of the system will work to achieve a set of goals, the most important of which is financial discipline, reducing errors, achieving efficiency and effectiveness in the use of government resources, in addition to providing accurate and real-time data and information on all government financial information that helps provide services efficiently and effectively." Pointing to raising the level of financial transparency, follow-up, control and financial accountability, as well as increasing the ability to properly plan government cash flows.

The statement continued, "The system is a means of linking all public government agencies and contains all the functions of public financial management from the financial and accounting operations that take place in all stages of preparing and implementing the budget, starting from the strategic planning stage and ending with the accounting stage and submitting final accounts."

 He pointed out that "the process of implementing the system comes within the framework of the adoption of the financial and economic reform project represented in the white paper, and with the aim of shifting towards integrated financial and accounting management that is consistent with internationally approved programs and systems." 

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MilitiaMan:  Yesterday was a big day, as is today. Many things are in the works for reform for Iraq both economicly and financially. Despite the picture of instability and lack of security "", things may not be as bad for our investment as one may think..

In the above piece it tells us that the process of implementation of financial and economic reforms comes within the frame work and is adopted by the reform project and it is being integrated with financial and managerial accounting that is consistent with international programs and systems, in real time.

The digitization of the process and it's systems are under way. It is about transparency and efficiency. They have it all and it is underway.. imo ~MM

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Al-Kazemi’s advisor: The emergency support law has entered into force

25th August, 2022

The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed, 08/25/2022, the entry into force of the Emergency Support Law for Food Security and Development.

Saleh told Al-Masala that the Emergency Support Law for Food Security and Development No. 2 of 2022 has now entered into force, especially after the financial instructions accompanying the same law were issued.

He added that work will continue to apply the law until the completion of the distribution of its allocations to the exchange sections stipulated by the law and which are detailed by the financial instructions.

He pointed out that the central control bodies referred to in Article 14 of the Emergency Food Security Law are in charge of exercising their supervisory and legal functions in the best way, in addition to the central role in implementation and follow-up undertaken by the Ministries of Finance and Planning to ensure the accuracy of the law's application.  LINK

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Al-Kazemi’s advisor identifies the supervisory bodies supervising the emergency support law 

25th August, 2022

Thursday, the Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed the entry into force of the Emergency Support Law for Food Security and Development, while specifying the supervisory authorities that supervise its implementation.

 Saleh said, "The Emergency Support Law for Food Security and Development No. 2 of 2022 has now entered into force, especially after the financial instructions accompanying the same law were issued."

He added, "The work will continue to apply the law until the completion of the distribution of its allocations to the exchange sections stipulated by the law and which are detailed by the financial instructions."

He pointed out that "the central control agencies referred to in Article 14 of the Emergency Food Security Law are responsible for exercising their supervisory and legal functions in the best way, in addition to the central role in implementation and follow-up, which is assumed by the ministries of finance and planning to ensure the accuracy of the law's application." LINK

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MilitiaMan:  The same day we see Salih confirms the EFSL financial instructions were issued. They are introduced into FORCE.. They will continue to be until there is completion of distribution. Let the sink in. They are to keep working until completion of distribution through the Ministries of Planning and Finance is complete and will have follow up subsequently thereafter. Imo ~ MM 

Legal expert: Recent events open the door to international intervention in Iraqi affairs

25th August, 2022

The legal expert, Ali Al-Tamimi, confirmed that the recent events open the door to the intervention of the United Nations in the internal affairs, pointing to the importance of holding an emergency session of Parliament in order to correct the situation.

Al-Tamimi told Al-Maalouma, "The recent events will be a justification for the intervention of the United Nations and the issuance of a Security Council resolution in accordance with Articles 39, 24 and 34 of the UN Charter, because the disruption of constitutional institutions gives the Security Council a justification for intervention in countries, as they are considered countries where a breach of peace and security has occurred. internationals".

He added, "Parliament must hold an emergency session in accordance with Article 58 of the Constitution at the invitation of the Speaker, or at the request of 50 deputies, or at the invitation of the President of the Republic, as it is an issue related to security."

And he indicated that "the council, in the event of its convening, takes the steps by which it dissolves itself after a certain period and grants the government the emergency power stipulated in the constitution until early elections are held without condition or restriction because the country is going through a dangerous turning point and allows unwanted international interference." LINK

MilitiaMan:  Again on the same news day there is the mention of international intervention in Iraq's affairs. The UN Charter can intervene in the political process under emergency circumstances. The make that known and quite clear about it.  Under the present conditions there appears to be support now for the intervention to facilitate the dissolution. Question is, does the UN Intervene prior to or at the same time as the Judiciary is scheduled to meet on the 08/30/2022 time line. We shall see and keep that thought.. ~ MM

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Basem Khashan talks about "massive thefts" linked to the Central Bank of Iraq

25th August, 2022

On Thursday, independent deputy Bassem Khashan spoke of massive thefts linked to the Central Bank of Iraq.

In a Facebook post seen by / the information /, Khashan said that "despite the multiplicity of fronts, and despite the fierceness of the confrontations, my war on corruption is still continuing, and has even expanded."

He added, "I received serious information and documents about massive thefts linked to the Central Bank of Iraq."

He continued, "All the sticks of the opponents and some of the swaying comrades were broken, and our wheels did not stop! We have a real reform project for which we have done a lot, and we will not be satisfied with anything less than achieving it." LINK

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MilitiaMan:  Here we have this guy talking about massive thefts linked to the CBI.. He goes on to say that his group will not be satisfied with anything less than achievement of reforms.. Then look below... They toppled those behind the currency auctions days prior. Lets not forget the the FM left town and publicly stated he was threatened and blackmailed to stay quiet. All of this seems to be and fit insecurity and instability.. But, is it? Recall prior to this big fish being caught, there were hundreds of small bait fish prior to this.. Lots of money has been clawed back in the process. Hundreds and Hundreds of billions of Dinar and USDs..  ~ MM

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After scandals escalated, the Central Bank topples a company that mediated in the currency auction

2022-08-21

Yes Iraq: Baghdad

On Sunday, the Central Bank of Iraq announced the withdrawal of the license of a mediation company for the sale and purchase of foreign currencies for violating the instructions and confiscating its 50 million dinars insurance, at a time when leaks and scandals increased about the currency auction.

In a statement, the bank said that "in view of the violation of the (Al Habib) company to mediate for the sale and purchase of foreign currencies, the provisions of the instructions regulating the work of mediation companies and the purchase of foreign currencies, it was decided to withdraw the company's license."

He added, "It was also decided to confiscate its insurance deposited with the bank amounting to 50 million dinars in favor of this bank," calling on the Ministry of Commerce to "cancel the certificate of incorporation granted to the company in addition to writing off the company's name from the records and providing the Central Bank with the certified liquidation letter."

The latest revelations about scandals in the currency sale auction, was what was revealed by specialized authorities that the banks of the clutch, Al-Ansari and the Middle East, affiliated with businessman Ali Ghulam, were granted about $2.5 billion during a period of 50 days preceding the date of the exchange rate change, amounts equivalent to 30% of the sales of the Central Bank. During that period.

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MilitiaMan:  Now to the EFSL and 50 days. The EFSL was published in the Gazette on 07/06/2022. That was 50 days yesterday. 50 days was mentioned prior to the exchange rate change.. The entitiees were toppled because of that.. Last banking day of the week. Take not the article about the modernizing of the public financial management systems..  The Emergency Food Security Law same day is put into force with full details and instructions for implementation through completion of distribution to the Planning and Financial Ministries.  Security? Stability? hmm KW RVd or RId in massive turmoil.. Wee shall see.. imo ~ MM

DallasDude:  I agree with MM's statement about Kuwait's RI - the New York Times wrote an article just after the rate change that people were exchanging in banks with no electricity - the country was in shambles.  This big mess of parliament, people in sit-ins, etc - is a perfect time for the CBI to publish a new rate - IMO of course

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Legal expert: Recent events open the door to international intervention in Iraqi affairs  LINK

MilitiaMan:  Whether we like the UN or not, they bring arrows in their quiver to the table. Because of what you say above has some relevance,  it is not however, taking into consideration that the corruption that is so rampant and that there has been unprecedented threats against not just the judiciary, but the finance minister and political side of the circumstances.

Sadr's right hand man was assassinated if I recall correctly.  Al-Alawi was threatened with his life and with black mail in teh mix, politicians wanting to speak out are asking for protection to do so, as speaking out  can be a death sentence for anyone in doing so.

Do to the "" emergency the UN describes may from the legitimacy given by UN  whether we like it or not, can be wielded now under such circumstances as to be the bad guy... It wasn't us that dissolved the parliament it was them.. There is data out lately to support that if they don't have things sorted accordingly in short order they can impose Chapter VII tutelage.. 

That my friends would not be in our favor. imo.. So, lets not shoot them in the foot and think they are not relevant.. imo They are. If they do intervene under the articles above, then, all those that have been threatened can possibly sleep a little better knowing they were not the ones that dissolved them selves. The UN will have that on their hands again, whereby if by issuing a Security Council resolution becomes the action taken. We shall see if the previous dissolution proves this is all just a dog and pony show or not.

Btw.. The EFSL became law in middle of JULY  - ish 2022.. That CBI 50 day mention about exchange rate change noted in the article yesterday has relevance to auctions and to timing. The breach of the acutions within the 50 days of an exchange rate change was acted on and we see the results of that in the article.

Alawi was given the green light we recall, hence, once he was threatened he had to protect himself. That guy in the article has lost many things from his corruption.. The clock is ticking.. IMO.. ~ MM