KTFA:

Samson:  The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government 

31st October, 2022

Monday, the World Bank confirmed that the policy of changing the dollar exchange rate is one of the prerogatives of the Iraqi government.

The World Bank said in a statement that it was followed by (Al-Oula News), that "the policy of changing the dollar exchange rate is one of the prerogatives of the Iraqi government."  LINK

Samson:  Abu Dhabi Exports signs a financing agreement with the National Bank of Iraq

1st November, 2022

The Abu Dhabi Export Office, the Abu Dhabi Fund for Development, signed a financing agreement with the National Bank of Iraq, owned by Capital Bank, to open a credit line of 36.7 million dirhams (10 million US dollars), to develop economic and trade cooperation between the UAE and Iraq, and encourage Emirati companies to export their goods and services to the markets. and strengthening its presence in the Iraqi market in particular.

Under the agreement, the Abu Dhabi Export Office will open a credit line to the National Bank of Iraq to re-lend it to buyers and importers of Iraqi investors to purchase goods and services from an Emirati exporter.

This agreement reflects the office's keenness to support the directions of the UAE government to promote the policy of economic diversification and promote trade relations with brotherly and friendly countries, which benefit both countries and contribute to advancing sustainable economic growth.

The financing agreement was signed via video call, Acting Director General of the Abu Dhabi Export Office, Khalil Fadel Al-Mansoori, and from the Iraqi side, the delegated director of the National Bank of Iraq, Ayman Abu Dhaim, in the presence of the Director General of the Abu Dhabi Fund for Development, Chairman of the Executive Committee of the Abu Dhabi Export Office, Muhammad Saif Al-Suwaidi, and a number of officials from sides.

Strategic partnerships

Mohammed Saif Al Suwaidi said on the occasion: "This agreement comes within the framework of the Abu Dhabi Export Office's efforts to strengthen its strategic partnerships with regional and international banking institutions, in order to provide new credit lines to motivate foreign buyers to import goods and services of Emirati origin, in addition to achieving common interests." Enhancing the competitiveness of national exports and advancing the sustainable economic growth of the two countries.

For his part, Ayman Abu Dhaim said: "This agreement represents an important step for the development of joint cooperation relations between the UAE and Iraq in various economic and trade fields, as it contributes to providing appropriate funding to support the movement of trade exchange and stimulate economic growth for the two countries."   LINK

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Samson:  The Central Bank: Efforts to lead a national financial system that meets the requirements of the public

31st October, 2022

Today, Monday, Central Bank Governor Mustafa Ghaleb confirmed that there are efforts to lead a national banking and financial system capable of meeting the public's requirements in various aspects.

The Governor of the Central Bank, Mustafa Ghaleb, said in a speech during the conference of the lending program launched by the Association of Banks in cooperation with the Central Bank and the US Agency for Development, which was followed by (Al-Oula News), that “the work mechanisms accompanying the tasks of granting loans in Iraq are not without difficulties, as they are related to the nature of consideration of funds. and their functions and the public’s expectations in dealing with them,”

He said, noting that “some people believe that all lending operations are a type of grant that does not require their refund, which requires banks to double the guarantee procedures that guarantee the recovery of those loans, and this is a problem followed by routine arrangements that some see as unimportant.” necessary while the bank considers it necessary to recover the funds.”

He added: “In our initiative that we launched, and the total of its funds amounted to about 18 trillion dinars, we tried to set requirements that guarantee the safety of the lending process from the outset and then guarantee the process of recovering the funds,” noting that “facilitating assets to funds and supports the strategy of financial inclusion and the cooperation of all parties to the lending and borrowing process, They represent basic pillars for development to remain with its angles related to money and ease of access.”

And he indicated, "The Central Bank is trying hard with the Association of Iraqi Private Banks and supporting international institutions, including the US Agency for Development and other national institutions, to lead a national banking and financial system capable of meeting the public's requirements in various aspects."  LINK

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Samson:  Justice: We will play the role of the ministry by recovering the money looted outside Iraq

30th October, 2022

Sunday, Minister of Justice Khaled Shwani announced the activation of the ministry's role in recovering money looted outside Iraq

Shwani said in a statement received by Al-Ghad Press, a copy of it, that "serving the Iraqi citizen is one of our most important priorities, and the best services must be provided smoothly and in the fastest time, and work to reduce administrative bureaucracy by organizing work, distributing tasks and granting broad powers to administrative officials for the purpose of accomplishing their tasks." With close control over their work, rewarding those who work hard, and taking legal measures against those who fail to perform their duty

Shwani pointed out that "the development of an integrated plan to be a road map for the next stage and to carry out the necessary reforms in order to advance the reality of work in all judicial departments and keep pace with development in developed countries and in the interest of the Iraqi citizen

He pointed out that "the Ministry of Justice is the one who codifies laws and regulates administrative matters and legal actions between the citizen and state institutions," noting that "the Ministry is Iraq's lawyer before the international community through pleading in international courts that affect the rights of the Iraqi state

He stressed, "activating the ministry's role in recovering looted funds outside Iraq through coordination with the Integrity Commission and other oversight departments," noting that "the ministry, with all its employees from the minister to the lowest ranks of the job grade, must be at the service of the citizen

LINK

Samson:  The arrest of senior Iraqi police officers involved in smuggling fuel

1st November, 2022

Iraqi media sources said today, Tuesday, that security forces have arrested the commander of the Energy Police in Iraq, Major General Ghanem Al-Husseini, for his involvement in fuel smuggling.

 The sources pointed out that Iraqi security forces arrested last night a network involved in fuel smuggling in Basra, including the Director General of Energy Police in the Ministry of Interior, Major General Ghanem al-Husseini, Director of Energy Police in Basra Governorate, and a number of officers in the Energy Police Brigades.   LINK

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Samson: Al-Sudani: The need to take exceptional and unconventional measures to combat corruption

01/11/2022 12:08:08

Prime Minister Muhammad Shiaa Al-Sudani stressed the need to take exceptional and unconventional measures in combating corruption and prosecuting its perpetrators, stressing the importance of giving the file of recovering looted funds the utmost importance.

The Sudanese, during his visit to the commission’s headquarters and meeting with the commission’s president, his deputy, the advanced cadre and a few of its employees, pledged that “the first criteria in his government’s dealings with the governments of countries is the extent of its cooperation with Iraq in recovering convicts and smuggled funds, and the diplomatic effort will be consistent with the procedures of the Integrity Commission; to enable Iraq From recovering his smuggled money, urging to start opening the most important files in terms of the volume of embezzled or wasted funds, or those related to stopping important projects that by completing the citizen touch the best services provided to him. 

He called for "the formation of a supportive team for the Integrity Commission that takes the legal capacity, and does not conflict with the authority's powers and tasks entrusted to it in accordance with its effective law No. (30 of 2011) as amended, expressing his readiness to provide all support to the Commission, whether at the level of executive procedures or legislative interventions to enact laws to corruption, which contribute to closing the outlets of this dangerous scourge, pointing to the work to improve Iraq’s peace in the international corruption perception index.” 

He continued, "We are now in a fateful battle against corruption, and just as we fought ISIS and won it with concerted efforts, we seek to work with the same strength and determination in our battle against corruption that hinders investment, services and development projects, stressing the determination to fight corruption and the absence of red lines in front of any corruption file linked to a political party." Or any person, explaining that he will be objective, professional and honest in handling and dealing with these files.

The Prime Minister indicated that “the phenomenon of corruption is evolving and mutating as is the case with the Corona virus, calling for the development of methods of dealing with it and addressing it and limiting its high value and its effects on the economy, investment and providing services to citizens, and calling for the development of methods of investigation and investigation of taxpayers’ funds to pursue the inflation of funds and illegitimate gain, and not to the traditional methods of activating the principle of "where did you get this from" were satisfied

And he concluded his speech by urging the provision of preventive measures and the cultivation of a culture of integrity, ethics and chastity of the hand, preserving public money, and preventing employees from being involved in violations or corruption crimes.

For his part, the head of the commission, Judge (Alaa Jawad Al-Saadi) reviewed some of the obstacles that may hinder the commission’s work in its tireless quest to combat corruption and beatings at the hands of the corrupt, calling for legislative intervention to fill the void created by the decision to abolish the system of public inspectors and the violations that have become far from oversight and accountability bodies, describing state institutions in the absence of that system as being closer to a black box in which it is not known what is going on in it.

Judge Al-Saadi referred to the achievements in the field of recovering smuggled funds during the past months, pointing out that this file is subject to some difficulties. Because of some legal aspects, such as the difference in the legal system of countries and the issue of dual nationality, stressing that some countries refrain from cooperating with Iraq in the field of recovering its money, and we need to compel government agencies not to conclude any contract or facilitate investment operations inside Iraq with the governments of countries that refrain from cooperating in Recover the convicts and the smuggled money.

The deputy head of the commission (Mazhar Turki Abed) suggested a legislative intervention to amend some laws; To give the commission some judicial powers, including: the right to indict, issue summons, arrest and prevent travel, pointing out that the injunctive investigation aspect cannot alone eliminate corruption in light of the complexity of this dangerous system.

The most important of these is taking preventive measures to prevent corruption, such as e-government and service governance, according to which the phenomenon of auditors’ contact with department employees, especially service ones, ends.  LINK