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Memoranda Of Understanding With 5 Countries To Recover The Looted Funds
Tuesday 02 November 2021 223 Baghdad: Tariq Al-Araji The Federal Integrity Commission is heading to conclude memorandums of understanding with a number of Arab and friendly countries to open up prospects for cooperation, exchange information about wanted persons and their money, and organize requests for legal assistance to recover them and smuggled money belonging to Iraq.
The Director General of the Recovery Department in the Integrity Commission, Dr. Moataz Faisal Al-Abbasi, told "Al-Sabah": "The basic criteria that are set for concluding memoranda of understanding are opening prospects for cooperation, exchanging information about wanted persons and their money, and organizing requests for legal assistance, while choosing the countries with which memorandums are signed. They are the ones in whose territory the wanted men are."
He revealed that "the commission is in the process of concluding a number of memorandas with countries, including (the Hashemite Kingdom of Jordan, the Republic of Lebanon, the State of Kuwait, the Republic of Turkey and Poland), and it is continuing to seek other countries to conclude such memoranda and enhance cooperation with them,"
stressing that "the priority remains in selecting countries according to Belief and knowledge of the possibility of smuggled corruption funds in those countries, as well as a number of files that are supposed to be resolved.”
He added that "the file for the recovery of wanted persons and smuggled money is a file that includes a set of priorities and documents, the most important of which is (the request for international assistance that is submitted to a country in which the accused or convict is located) in which it requests seizure of the money of the convict or the accused in those countries.
The file is prepared in the recovery department, It is sent to those countries through the Ministry of Foreign Affairs and then the authority concerned with responding to such requests."
He explained that "the file includes documents in which the judicial decision in absentia includes paragraphs related to the amount of damage to the state's funds and the confirmation that it is outside Iraq, and an attempt to determine the destination of his travel, conduct financial investigations and find out his accounts or money abroad. And border crossings, passports, (Anti-Money Laundering and Combating Terrorism Office), Arab and International Police, and after sending a request for legal assistance, that country may accept it, reject it, or ask for certain clarifications. Justice/Legal Department for the purpose of filing a case in that country to get the money back.”
Regarding the returns and results of the (Looted Funds Recovery) conference, which was held recently in Baghdad, the Director General of Recovery confirmed that “the general framework of the conference is scientific, in which working papers and research specialized in recovering funds were presented by official and scientific bodies and specialized researchers, and the conference was entitled (Recovering the looted funds).
How - procedures, difficulties and available means), as experiences and viewpoints were exchanged in developing money recovery mechanisms and following the best ways and mechanisms that the United Nations Convention against Corruption portrayed as the international agreement on this issue.
And he indicated that "a number of recommendations amounting to (18) were also reached, in the interest of developing work on money recovery and encouraging countries to work among themselves for the purpose of finding non-traditional ways in the matter of money recovery and building confidence between countries and good faith in implementing international obligations."
Al-Abbasi explained that "the holding of the conference helped with the presence of many ministers and concerned authorities in the various participating countries in opening side dialogues with the countries that must cooperate with them for the purpose of building confidence in preparation for activating the recovery files and discussing possible means to overcome the obstacles that stand in the way of activating requests for legal assistance related to the recovery of funds and assets." Finance". LINK
Economic Construction And Serious Reform
Tuesday 02 November 2021 99 Baghdad: Hussein Thaghb A consensus on the need to create serious reform during the coming period in light of the rising voices calling for changing the economic reality to a better stage, while rejecting all justifications. This came during a meeting of elected representatives with the private sector to discuss the requirements of the next stage, which requires directions that actually promote investment in light of the inability of the federal budget to feed the projects required by the country.
The specialist in economic affairs, Adham Al-Qahar, said: {This periodic meeting, which brings together the legislative and private sectors, comes in order to correct the performance paths and create a serious approach that serves the national economy.}
He added that "everyone would like to know the direction of the national economy and the perceptions of the people's representatives about the next stage in light of the escalation of voices demanding the creation of real reform that would put the country on the track of real development."
Country Need
Elected member of the House of Representatives Madiha Al-Moussawi said: "We realize the country's need for requirements that require real effort, to advance the economy, where there are idle industrial plants and they can be the first development step."
And she indicated that {the private sector represents an important axis that must be activated to address the total economic problems that the country suffers from, foremost of which is the provision of job opportunities, in addition to dispensing with foreign workers.}building the country
In turn, the elected representative, Atwan Al-Atwani, said: "The responsibility for building the country is shared," pointing to "the constants of the budget cannot be touched, including the salaries of employees, retirees, social welfare and governorate benefits."
He stressed the "importance of working towards a plurality of resources to reduce the shocks of crises facing crude oil prices, which represents the most important resource for the federal budget, which requires realistic plans for a plurality of resources, and investing the country's wealth must take into account the entitlements of future generations."
Al-Atwani stressed that investment is disrupted in the country and that issuing an investment license requires a great effort and goes through complex stages, and here it is necessary to find solutions to this matter, and for everyone to realize that investment is an absolute necessity to develop the national economy, and that planning should be present.
He pointed out that "the country has the ingredients to achieve economic success, which can achieve a plurality of resources."
Real Pluralism
The elected representative, Alaa Al-Rubaie, said: “The country’s problems are now known to everyone, and this requires the development of housing, education and health,” pointing to “the need to correct performance paths, and adopt real solutions that help build a solid economy that is not affected by crises, and there is a real plurality of the country’s financial resources and contribute to to all sectors.
Financial Sector
The expert in economic affairs, Louay Al-Saeed, said: "Developing the country's economic performance requires an effective financial sector, and here it is necessary to have a sober banking law, as the process of sustainable economic development is linked to the presence of a banking system capable of financing."
He cautioned that {decisions concerned with the private sector should provide a fertile environment for work and push it to promote activity in a direction that serves the national economy}, stressing {the importance of allocating funds for projects}.
As for the captain of the Iraqi Engineers Syndicate, Dr. Azhar Al-Rubaie, said: {The country suffers from a defect in all sectors, and here we must know and renew where to start}, pointing to {the need to address the administrative imbalance in the country and create a solid legislative oversight institution that does not realize the importance of its legislation. For the future, as the reality of the country requires us to create a secure political and economic environment to activate the wheel of development.” LINK
Adviser To The Prime Minister: Iraq Has Entered The Era Of Renewable Energy
Panels for the production of solar energy in Iraq
Energy Economy News – Baghdad Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, said that Iraq has entered the era of renewable energy, while praising the central bank's important initiative to solve the electricity problem.
Saleh said in a statement reported by the official "Al-Sabah" newspaper and seen by "Al-Iqtisad News", that "Iraq is facing difficulty in meeting its energy needs generated from conventional fuels, while the world has entered the fields of clean energy, meaning that there is difficulty in providing energy from traditional fuels due to historical accumulation and increased demand.
He added that "Iraq is practically among the ten countries in the world, it is the most supplier of the sun and therefore it is able to produce energy from it," returning the initiative of the Central Bank "is important and qualitative to encourage solving the energy problem and keeping pace with the world in this field."
Adviser to the Prime Minister noted that "the government's policy on electricity is moving forward, as it has plans to provide energy and investment," noting that "Iraq entered by importing electricity and connecting with neighboring countries to help the national grid, as it entered the era of renewable energy, that is, alternatives to electricity and its production from sources other than oil and gas.
He stressed, "the need to end dependence on private generators, as they pollute the environment," noting that "the government is working to provide electricity and improve the reality of equipment through three sources: investing in electricity, importing it from neighboring countries, and generating it from renewable energy."
Views 111 Date added 02/11/2021 https://economy-news.net/content.php?id=26701
Deputy Secretary-General Of The Council Of Ministers Calls On Denmark To Invest In Iraq
Deputy Secretary-General of the Council of Ministers Farhad Nematullah Hussein (right) and the Ambassador of the Kingdom of Denmark to Iraq Stig Paulo Beiras
Money and business Economy News – Baghdad Deputy Secretary-General of the Council of Ministers, Farhad Nematullah Hussein, called on Tuesday, Denmark, to invest in Iraq.
A statement by the General Secretariat of the Council of Ministers, seen by "Al-Iqtisad News", stated that "the Deputy Secretary-General of the Council of Ministers, Farhad Nematullah Hussein, received in his private office the Ambassador of the Kingdom of Denmark to Iraq Stig Paulo Beiras and his accompanying delegation."
He added, "The two sides discussed ways to advance bilateral relations between the two countries, enhance cooperation opportunities in various fields to serve the common interests of the two friendly peoples, and open horizons for exchanging experiences between the two countries' institutions in the scientific, commercial and health sectors, as well as training and capacity building."
According to the statement, the Deputy Secretary-General stressed that "the reopening of the Danish embassy in Iraq is an important step in building bridges of communication between the governments of the two countries, and facilitating cooperation mechanisms," praising "the supportive efforts provided by the Kingdom to Iraq in confronting ISIS and the efforts of Danish organizations to assist the displaced."
The Deputy Secretary-General indicated that "the security stability witnessed in most of Iraq's governorates is a major factor in encouraging discreet Danish companies to invest in Iraq," calling on the Danish embassy to coordinate with the Iraqi Economic Council and the Federation of Businessmen, to see the investment opportunities that attract the interest of Danish investors, And the possibility of working to revitalize the tourism aspect, especially after the Pope’s visit to the ancient city of Ur, which represents an important symbol for Christians in the world.”
The statement concluded, "For his part, Paolo praised the bilateral cooperation between the governments of the two countries," stressing "the continuation of his country's government to support Iraq and its economic and political endeavors, in addition to consolidating economic relations by urging his country's companies to invest in Iraq in various fields, while expressing his hope that Iraq to become among the developed countries.
Views 84 Date Added 02/11/2021 https://economy-news.net/content.php?id=26712
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