More "News and Views" From Frank26 and KTFA Tuesday Night 8-23-2022
KTFA:
Frank26: "THE CBI GOVERNOR TAKES NO PRISONERS... FOR THE MONETARY REFORM"......F26
Withdrawing the license of Al Habib Company to mediate the sale and purchase of foreign currencies
21st August, 2022
Based on the decision of the Board of Directors of this bank No. (125) of 2022, and in view of the violation of the company (Al-Habib to mediate in the sale and purchase of foreign currencies) the provisions of the controls regulating the work of exchange and mediation companies in the sale and purchase of foreign currencies No. (1) of 2022 amended.
It was decided to withdraw the license of the above-mentioned company and to confiscate the insurance deposited with this bank in the amount of (50,000,000) dinars (fifty million dinars) in favor of this bank, and to cancel the certificate of incorporation granted to this company by the Ministry of Commerce / Companies Registration Department, and the Ministry of Commerce must provide the bank with a write-off letter The name of the company from their records, and the certified liquidation minutes and letter. LINK
The Central Bank of Iraq withdraws the license of a financial mediation company and confiscates its insurances
21st August, 2022
The Central Bank of Iraq announced, on Sunday, the withdrawal of the license of a mediation company for the sale and purchase of foreign currencies for violating instructions and confiscating its insurance amounting to 50 million dinars.
The bank said in a statement received by Shafaq News Agency, that "in view of the violation of the (Al Habib) company to mediate for the sale and purchase of foreign currencies with 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 deposits of 50 million dinars in the bank 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 Central Bank of Iraq was established as an independent body under its law issued on March 6, 2004, after it was linked to the Ministry of Finance before this date. It is responsible for maintaining price stability and implementing monetary policy. It supervises 25 commercial banks, 26 private banks, and 28 Islamic banks. In addition to 16 foreign banks, as well as 6 financial institutions and 31 money transfer companies. LINK
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Frank26: "REALLY!!!???.......... EDDIE SAYS THIS MUCH RESERVES FOR A PROGRAM RATE???!!!"....F26
The Central Bank: The cash reserve will rise to $90 billion by the end of 2022
21st August, 2022
Today, Sunday, Deputy Governor of the Central Bank, Ammar Khalaf, expected the central bank’s cash reserves to reach 90 billion dollars at the end of this year, while he indicated an increase in gold reserves by 30 tons
Khalaf told the Iraqi News Agency that "the rise in the central bank's reserves came as a result of the rise in international oil prices, and this is reflected in the rise in reserves," expecting "the reserve to reach 90 billion dollars by the end of this year
He added that "the current reserves of the Central Bank amounted to more than 80 billion dollars," noting that "the gold reserves amounted to more than 131 tons, as it increased by about 30 tons, and this led to a high ranking of Iraq globally
He stated that "gold is not increased continuously, but rather through long periods LINK
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Frank26: "AGAIN... CBI CONTROLS TO PROTECT THE CURRENCY AND MONETARY REFORM AND HER BANKS!!!"..... F26
Integrity reveals fraud and embezzlement of 14 billion dinars in Al-Rafidain Bank
22nd August, 2022
The Investigation Department of the Integrity Commission announced that it had seized fraud and embezzlement in a government bank in Baghdad, indicating that the total embezzled funds amounted to (14,000,000,000) billion dinars.
The department indicated, in its talk about the seizure that was carried out by the work team of the Baghdad Investigation Directorate, based on a judicial seizure memorandum, that the team was able, after carrying out investigations, to detect fraud and embezzlement at Al-Rafidain Bank - Al-Mustansir Branch, pointing out that the employees embezzled their amount. (14) billion dinars, including loans for the Basmaya housing complex.
She added that the team was able to apprehend (10) suspects from the bank's employees, after they moved to four of the Rafidain Bank branches in Al-Rasheed Street, Karada Maryam, Al-Hussainiya and near the International Railway Station. To seize the accused who were transferred earlier to the mentioned bank branches.
The department indicated that seizure reports were organized and presented, along with the accused, to the judge of the Rusafa Investigation Court, which is specialized in issues of integrity, money laundering and economic crime, who decided to arrest them in accordance with the provisions of Article 316 of the Penal Code. LINK
Samson: Integrity Carried Out 45 Arrests Of Accused And Files During The Month Of July
23rd August, 2022
The Investigations Department of the Integrity Commission announced today, Tuesday, that it carried out (45) seizures in Baghdad and the provinces during the month of July
A statement by the department, received by Earth News, stated, "The work team of the Commission's investigation office in Maysan diagnosed fraud and poor implementation in a construction project at a cost of (7,600,000,000) billions of dinars
He added, "The poor implementation and manipulation of building materials for the administration and passports building at the Al-Sheeb border crossing led to the fall of the building, and in Kirkuk, the commission's investigation office in the province revealed suspicions of corruption in the paving project of the street connecting from Sargnar Bridge to the entrance to the province from the direction of Sulaymaniyah, in addition to Suspicions of corruption in the contract for the supply of a mask of Sibab in the Kirkuk Health Department
The statement added, "The Najaf Investigation Office monitored violations in the Governorate Health Department, represented by the department's employees organizing recycled purchase transactions from 2021 in the amount of (395,860,000) million dinars; Despite the lack of financial provision, in Dhi Qar, the work team of the Governorate Investigation Office was able to stop the disbursement of amounts (120) contracts; The presence of fraud, forgery and violations in the Persons Contracts Division in the governorate, pointing out that “the addition of these operational contracts after forging the margin of the deputy governor and project accounts manager with approval and financial allocation by fixing the margins with (scanner) on the applications submitted for contracting and completing their contractual procedures
He stated that "in Diyala, a transfer was made to the province's Electricity Distribution Company, and the priorities for the implementation of a project to rehabilitate networks in a number of villages were set, with the feeders divided by referral to a contracting company, but the investigations of the authority's office in the province confirmed that the implementation on the ground was carried out by Employees of the Diyala Electricity Directorate and using its mechanisms, while the Anbar Investigation Office team was able to detect cases of fraud and waste of public money, after forging the signatures of the committee to supply an electric generator to the mayor of Rawa District, which caused a waste of (49,140,000) million dinars after promoting the advance exchange transaction with forged signatures
He pointed out that “64 files were seized for beneficiaries of the allocation report in the directorate of the municipality of Hilla; For the directorate’s property manager to prepare a record of allocating plots of land with areas larger than what is legally permitted, as well as allocating plots to people who were previously allocated to them, in contravention of the controls and instructions LINK
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Samson: Iraq possesses about 500 billion dollars smuggled... How can it be recovered?
23rd August, 2022
The legal expert, Ali Al-Tamimi, stated that Iraq has about 500 billion dollars smuggled abroad, explaining that the law guarantees Iraq to recover these amounts from the banks to which it was smuggled.
Al-Tamimi told Al-Maalouma, "The 2005 money laundering agreement related to the recovery of smuggled funds in accordance with Articles 55 and 56, including a fee for the recovery of these funds, was signed by Iraq in 2007 by Law 35 of 2007, and the value of the smuggled funds is estimated at 500 billion dollars."
He added that "the US Federal Bank has 65 billion dollars belonging to the previous regime, and it belongs to the Iraqi people, and Iraq can claim it in accordance with Article 28 of the Iraqi-American Strategic Agreement of 2008, which allows Iraq to request economic assistance from America."
He pointed out that "Article 50 of the Charter of the United Nations allows countries that are fighting sides under Chapter VII, to request economic assistance from the Security Council, and Britain and France have announced their readiness to help, and Iraq has fought the terrorist Daesh that is under Chapter VII under Resolution 2170 of the Security Council."
Al-Tamimi stressed, "Iraq is still under Chapter VI of the UN Charter, because there are financial assets with Kuwait worth 4 and a half billion dollars. If the political, security and economic crises continue, the Security Council in Iraq may return to international tutelage, that is, Chapter VII of the Charter of the United Nations." LINK