Delta, Militiaman and more Sunday 9-27-2020 "Imminent"

KTFA:

Samson:  The Central Bank: The reform paper for the banking sector will be launched soon

27th September, 2020

The Central Bank of Iraq announced, on Sunday, that the terms of the reform paper will be imminent for the banking sector.

A bank statement, of which Mawazine News received a copy, stated that “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is at his first meeting for the banking sector this morning, in the Central Bank building, during which the future vision of the work of the Central Bank of Iraq was presented in light of the economic crisis, He also proposed the terms of the banking sector reform paper, which will be initiated soon.

The governor of the Central Bank stressed, according to Abelian, "the importance of developing banking services and products in the next stage," noting that "this bank will support the banking sector to advance its current reality."   LINK

Jerry1971:  GREAT NEWS coming out right from the CBI governor himself , hopefully sooner than later IMO

DELTA:  ANOTHER HUGE ONE.....THERE IT'S FROM CBI....THIS NEW GOV IS AMAZING NOT WASTING ANY TIME AT ALL.....

Iobey777:  I like the word IMMINENT.. and the phrase, “ to advance it’s CURRENT REALITY “ !!! Wow!!

MilitiaMan:  The theme in this imo is the wording “Terms”.  Recall last week real close there were two large energy companies working on agreements to provide electricity. Both GE and Siemens were telling us they have projects but they couldn’t yet disclose the terms.  

The article also mentioned that the 2020 budget was to allow money movements from the investment side of the ledger to the operational side.. (my emphasis)

Here above the CBI is gearing to expose the terms of the reforms paper.  Terms are at what rate the banking sector will be using to advance it’s current reality. Similar to the terms the two companies could talk about!! 

If the recent article talking about balancing the banking policy has anything to do with this, which, imo it surely does, it talks about using a balance of payments between the Dinar and the US Dollar.. Add in Deltas post a few days ago that showed they can transfer both currencies between accounts on smart phones, etc.. lights should be beaming out about now!! Lol

We can see there is an apparent change coming.

We are hearing that Media yesterday was telling the citizens a change in rate was to be expected now.

Articles from the banking sector and the GOI support that! In fact economists, the CBI Gov and the PM have piped in on the matter!!

Times are looking very good! There are other peripheral things on going that also support that the CBI is about to talk terms!! Imo ~ MM 

Samson:  Economist: Determining the salary scale and finding a way out for those whose contracts have been canceled is a guarantor of solving part of the financial crisis

08:41 - 27/09/2020

The economic expert, Wissam Al-Tamimi, indicated that the government’s orientation towards the Civil Service Law and the creation of a new salary scale that unifies the salaries of employees and eliminates the paradoxes between one ministry and another, as well as distributing those whose contracts have been canceled to state departments according to the jurisdiction is a guarantor to solve part of the current financial crisis.

Al-Tamimi told "the information", that "Iraq needs to prepare a new salary scale, which may be harmed by some parties, but it will eliminate the paradox of salaries between one ministry and another."

He added, "More than 99,000 members of the Popular Mobilization Forces have canceled their contract, in addition to other categories, as it is possible to benefit from these numbers when launching job grades, so that they are the first in them, and they are distributed among the security services and other ministries according to their specializations."

He explained that "the government can work according to a balanced economic policy and eliminate inflation in the currency through part of the salaries of employees in dollars or choosing them in exchange outlets between the dollar and the dinar, thus selling a large part of the foreign currency instead of relying on currency auction."

He indicated that "defining a new salary scale and finding a way out for those whose contracts were canceled, and distributing salaries in dollars and dinars, would rid the government of part of the current financial crisis and make its accounts more clear without entering into the equations for finding a financial allocation for some segments."  LINK

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MilitiaMan:  To get a balance is to get equality, they are talking terms in this article. To eliminate inflation to or in a currency is to raise the value not devalue it. Bring it to a parity to another equal currency is one way of doing that.

This directly above is they have determined to solve the problem of contracts. They have to be fair and in an equitable manner. Thus, they are telling the citizens on TV that they are changing the value of the currency and here they are balancing they two currency's, with the Dinar and the Dollar.

Apparently at a balanced ratio. Is it 1:1? Sure could be and even better once they international calculation gets applied outside in the international arena.

This balance if you will is to fix the financial crisis. I have to agree with the plan.. I looks like they know it will work.. I like it.

Not to mention they have told us it is imminent and they have the Executive authority to do so.. imo ~ MM

"returning the budget to the government took place to make some adjustments related to the general financial situation of the country," noting that "there are paragraphs in the budget from the powers of the executive authority to amend them while they are outside the functions of the Finance Committee."

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Samson:  The overthrow of a "dangerous" gang in possession of large amounts of money in southern Iraq 

27th September, 2020

The Basra Police in the far south of Iraq revealed, on Sunday, the arrest of a "dangerous" gang responsible for stealing huge sums of money in the governorate, while it indicated that large sums were seized from the detainees' possession.

Basra Police Commander, Major General Abbas Naji, told Shafaq News that "two people were arrested with 3 wheels caught," adding that "they are in possession of more than two billion and three hundred million Iraqi dinars."

He explained that "the fight against crime was the one who carried out the operation, and was able to arrest the accused in one of the areas of Basra," noting that the operation "is still continuing to search, and the suspected areas are completely cordoned off."

On August 23, the Basra Police Command revealed the arrest of 304 people, including those accused of murder. About 3,000 "violating" wheels and bicycles were seized within three days.

The arrests and security campaigns in Basra came after the   spread of manifestations of chaos and security breakdown in the governorate, in which unknown gunmen assassinated and targeted civilian activists in the demonstrations, including women. Likewise, under the shadow of the spread of organized crime and armed clan conflicts, which have not been stopped until now.  LINK

Samson:  Tomorrow ... the head of integrity reveals new procedures for arresting and bringing in new people accused of corruption

13:55 - 27/09/2020

The head of the Parliamentary Integrity Committee, MP Thabet Muhammad Saeed, revealed, on Sunday, arrest and recruitment procedures that will affect a new number of people accused of corruption on Monday, refusing to reveal those names because the procedures are carried out in complete secrecy.

Said said in a statement to "the information", that "the Anti-Corruption Committee has directed the security and judicial authorities to take legal measures to arrest and bring in a number of people accused of corruption cases," stressing that "the implementation of arrest and recruitment will take place tomorrow, Monday."

He added that "all procedures will be conducted in complete confidentiality," indicating that "the Integrity Committee and the Anti-Corruption Committee are doing high coordination in all files."

Earlier, Representative Alia Nassif revealed that the Integrity Committee had issued a list of a number of suspects today, Sunday, that included important personalities.   LINK

DeepWoodz:  Finishing touches of clean-up in aisle 3???

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Samson:  The US Embassy In Baghdad: It Will Conduct A Series Of Tests Of Emergency Equipment Over The Next Two Days

27th September, 2020
The US Embassy announced that it will conduct a series of tests, and alarms of danger and sirens will sound.

The embassy said in a statement that the Independent received a copy of it that today, Sunday, “During the next two days, the US embassy will conduct a series of tests that include our emergency equipment and procedures. Exercises ”.

The embassy "apologized for any inconvenience that may result."  LINK

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Samson:  The US State Department issues a report that monitors Iran's destructive activities in the region

27th September, 2020

The US State Department issued a report that sheds light on the outlaw regime in Iran and monitors its destructive activities for the region’s security and stability. The report consists of seven chapters that dealt with several aspects of Tehran's activities.

The US State Department report dealt with the Iranian regime’s activities in Iraq. Where the report confirmed that since the year two thousand and sixteen the Iranian Revolutionary Guard received most of its foreign currency from the Central Bank of Iraq.

He pointed out that senior officials in the Central Bank of Iraq worked to provide facilities to transfer funds to the Revolutionary Guard.

The report indicated that the Revolutionary Guards supervised the transfer of tens of millions of euros to Iran through the Central Bank of Iraq, while the US Treasury revealed that the Assistant Director of the International Department in the Central Iraqi was complicit in concealing the movement of funds for the benefit of Hezbollah in the year two thousand and eighteen, at a time when he confirmed The US State Department report that the Iraqi Central Bank continues to transfer billions of dollars and euros to the Iranian Revolutionary Guard and the Houthi movement in Yemen.

The report stressed that these deficiencies on the Iraqi Central Bank undermine the integrity of the financial system in Iraq.   LINK

Don961:  New US threats to Iraq widen rifts, leave PM exposed

 Issued on: 27/09/2020 - 04:38 Baghdad (AFP)

Enraged by near-daily attacks on its interests in Iraq, Washington has threatened to close its embassy in Baghdad, in a blow to a premier seen as a bulwark against Iran.

Iraq has long been caught in a tug-of-war between its allies Iran and the US, rendered rockier by Washington's "maximum pressure" policy against Tehran since 2018.

In a new escalation, US Secretary of State Mike Pompeo called Iraqi President Barham Saleh last week to deliver an ultimatum, Iraqi and foreign officials told AFP.

Unless Iraq's government puts an end to the rockets raining down on US military and diplomatic sites, Washington would shutter its embassy and recall its troops, the sources said.

"The Americans aren't just angry. They're really, really, really angry," one Iraqi official told AFP.

Another said: "The honeymoon is over."

The US still has hundreds of diplomats in its mission at the high-security Green Zone in Baghdad and around 3,000 troops based in three bases across the country.

Since 2019, dozens of rockets and improvised explosives have targeted these sites, with US and Iraqi officials blaming Tehran-backed factions including Kataeb Hezbollah.

Washington has twice retaliated with strikes on Kataeb Hezbollah in Iraq and threatened earlier this year to bomb more than 120 further sites if the rocket attacks cost American lives, a top Iraqi official told AFP.

The frustration failed to ease even after Mustafa al-Kadhemi, seen as Western-leaning, took office as premier in May.

Ahead of Kadhemi's visit to Washington in August, the US signalled it was "unsatisfied with his actions" against pro-Iran armed groups, an Iraqi official said.

The US declined to comment on Pompeo's latest call, but a State Department official told AFP that "Iran-backed groups launching rockets at our embassy are a danger not only to us, but to the Government of Iraq".

- Growing rift -

Fresh in the minds of Iraqi officials and armed groups is the US drone strike in January that killed top Iranian general Qasem Soleimani and Abu Mahdi al-Muhandis, the deputy head of Iraq's state-sponsored Hashed al-Shaabi.

Since then, many pro-Iran paramilitary leaders have gone into hiding lest they be subject to American strikes or sanctions.

The new US threats seem to have deepened the growing rift between factions loyal to Iran and those less willing to enter into a full confrontation with the US.

After months of silence, influential cleric and political leader Moqtada Sadr took to Twitter this week to call for "the creation of a security, military and parliamentary committee to investigate" the rocket attacks.

Within minutes, Kadhemi and other top government figures endorsed the recommendation.

"There's a consensus on condemning these attacks. Kataeb Hezbollah and other hardliners are isolated and left without political cover," an Iraqi official said.

Even the Hashed al-Shaabi slammed rocket attacks as "illegal military acts", denied involvement and formally sidelined a pair of commanders seen as too Tehran-leaning.

But the hardliners, too, are organising.

A half-dozen previously unheard-of groups have claimed responsibility for rocket attacks on the US and even threatened the United Nations in recent months.

Iraqi intelligence officials and political sources say Iran has been gathering the most hardline among its Iraqi allies into these new formations.

- PM in hot water? -

These reconstituted groups see Kadhemi as Washington's man in Baghdad and are irked by his vows to rein them in.

"They're sending a message from Iran to the US: the recent political developments have changed nothing. We can still hit you hard, and no leader can implement your agenda in Iraq," said a source from Iraq's Shiite political network.

That has left the prime minister in a precarious position.

A US withdrawal could hand his rivals an unintended propaganda win, a Western diplomat in Baghdad told AFP.

"If Washington follows through and withdraws its people, these groups will be able to brag that they kicked the Americans out of Iraq at little cost," the official said.

Iraq's parliament voted after Soleimani's killing to oust foreign troops posted in the country to help fight jihadist remnants, but Kadhemi has tried to slow-walk the decision.

He has also embarked on an anti-corruption drive, launched a strategic dialogue with Washington and sought to fast-track deals with US companies that would decrease Iraq's reliance on Iranian energy imports.

His downfall, Western diplomats and analysts said, could be a nightmare for Iraq's stability.

"If the US really closes its embassy, it will leave Kadhemi in a very weak and dangerous position, opening the door for militias to expand and maybe take extreme action against the state," said Ali Mamouri, an analyst and editor of the Iraq Pulse at Al-Monitor news website.

2020 AFP  LINK

KTFA Members "News and Views" Friday Late Afternoon 9-25-2020

KTFA:

Samson:  The global economy exceeds June estimates

25th September, 2020

The International Monetary Fund spokesman stated that the global economy is recovering beyond estimates made in June, and that the next estimates, which will be published on October 13, will be more.

It is up compared to its predecessor, which was published on June 24, and that its horizons will be wider.

He also stressed that these data do not mean the end of the difficulties of the global economy after the pandemic hit it.

 Despite the recovery of the Chinese economy, outside its walls there are many unknown prospects for developing countries and several emerging markets.   LINK

DELTA:  KRG FINANCE AND ECONOMY RUNS FIRST CURRENCY EXCHANGE

SULAIMANI — After announcing plans to do so earlier this month, the Kurdistan Regional Government’s (KRG) Finance and Economy Ministry ran a currency exchange on Wednesday (September 23) in Erbil city.

A source told NRT Digital Media that $35 million ($41.9 billion Iraqi dinars) was exchanged.

“The [finance and economy ministry] received 122,800 Iraqi dinars for each $100,” the source said who spoke on condition of anonymity because they were not authorized to speak to the media, noting that the public treasury took in 600 million Iraqi dinars ($501,000) as a result.

“From now on, if any money that is the government’s property and enters the Region, including oil money, it will be exchanged like that,” the source added.

On September 19, the ministry said it would exert greater control over the exchange of US dollars and Iraqi dinars in the Kurdistan Region, taking over responsibility for currency auctions from the Central Bank of Iraq.

The move comes as part of an effort by the KRG to capture more internally-generated wealth through stricter enforcement of taxation and fee collection.

The government is facing a severe budget shortfall and is unable to pay its full public sector wage bill amid low oil prices and budget dispute with Baghdad.

DELTA

MilitiaMan:  A change in pattern... Very good find Delta~ Thanks. Nice to see the change, we know that for the next part of the reforms will require them to do this. The fees and taxation being strictly monitored, sounds like the new system is in place now.

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Samson:  The United States is committed to partnering with Iraqi Universities

24th September, 2020

The United States is committed to partnering with Iraqi Universities to improve education and promote exchange. We are also working closely with the Iraqi government to protect Iraq’s cultural heritage sites”.

Learn more in this video!    VIDEO LINK - IN ENGLISH   LINK

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Samson:  Massive net deficit in Iraq's budget within one month

The Ministry of Finance's report on expenditures and state imports for the month of July showed a net deficit during the month amounting to 5 trillion dinars, according to Manar Al-Obeidi, a member of the Future Iraq Center for Economic Studies.

"The value of oil imports amounted to 2.8 trillion dinars only, while non-oil imports amounted to 300 billion dinars, in contrast, total expenditures amounted to more than 8.7 trillion Iraqi dinars, and therefore the total deficit for the month of July is 5 trillion Iraqi dinars," Al-Obeidi said in a statement. 

The total cumulative deficit from the beginning of the year to the month of July amounted to 8 trillion Iraqi dinars, and it is expected that during the end of the year the deficit will reach more than 20 trillion Iraqi dinars, as the amounts of services to the licensing companies, which are usually spent at the end of the year, were not spent, according to Al-Obaidi.

He pointed to a decrease in non-oil imports compared to previous months, as they did not exceed 300 billion dinars, despite all pressures to reform customs and tax systems, which represent the largest part of non-oil resources.  And he believed that the continuation of this bleeding without finding real solutions will lead the country to a set of difficulties that will undoubtedly lead to a major economic deterioration that no political party will be able to control in any way unless it puts in place quick solutions, especially in the area of ​​reducing and controlling expenses.

Al-Obaidi added that the loss of more than 20 trillion dinars is not a small amount, as it represents more than 10 percent of the GDP, and we must work to stop this continuous bleeding while oil prices remain at the current levels.

Iraq suffers from a financial crisis due to the decline in oil prices due to the Corona pandemic crisis that paralyzed economic sectors around the world, as Iraq relies on revenues from selling crude to finance about 95 percent of state expenditures.   LINK

Samson:  Baghdad crime-fighting arrested a gang that stole more than a billion dinars

21:25 - 09/24/2020

On Thursday, the Security Media Cell announced the arrest of a gang that stole more than a billion dinars in Baghdad.

The cell stated in a statement it received "the information", “Based on the directives of the Minister of Interior and direct follow-up by the Undersecretary for Police Affairs and under the direct supervision of the Major General of Human Rights, Director of Baghdad Crime Combat, the Mansour Crime Control Office, in cooperation with the Salhiya Office, managed to arrest two accused On charges of stealing a car and a sum of money, after the Directorate was informed of the existence of an incident of coerced theft in the Al-Harithiya region, which is the theft of an amount of money amounting to one billion two hundred thirty-five million Iraqi dinars with a white Elantra wheel by defendants disguised as military clothes.

And she added, “A working team was formed and moved to the scene of the accident, and by collecting information from the sighting of the surveillance cameras, the perpetrators were identified and after the tracking down, an ambush was set up for one of the accused in Kirkuk governorate, the first suspect who confessed to participating in the crime with his brother was arrested, which was done He was also arrested and the full amount was seized in Al-Harithiya, and he confessed to the crime, as their papers were transferred to the judiciary.    LINK

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Sudan Agrees To Normalization With Israel, With Conditions

24th September, 2020

Al-Sharq Al-Awsat newspaper revealed, today, Thursday, that the American administration reached an agreement with Sudan that includes removing Khartoum from the American list of countries sponsoring terrorism, indicating that it may be announced within days, in addition to an initial agreement on the role of normalization. Arab relations with Israel in establishing peace in the region and preserving the rights of the Palestinians.

The newspaper quoted its own sources as saying, "Khartoum has staked its position on normalization by fulfilling its demands, which also include providing a package of financial aid and facilitating its access to loans from international financial institutions."

She added that the two sides reached an agreement providing for US $ 7 billion in support for Sudan, deleting Khartoum from the list of states sponsoring terrorism, defining its role in Arab-Israeli peace agreements, and negotiating between the two parties to issue legislation to ensure that Khartoum will not be prosecuted in any future issues.

The sources added, "Sudan agreed in principle to normalize its relationship with Israel, on condition that the package of demands that it presented to the American team in the high-level Abu Dhabi talks that lasted for three days would be implemented." The sources pointed out that the US team made more than one contact with President Donald Trump and his advisor, Jared Kushner, during the rounds of talks.

In Khartoum, the head of the Sudanese Transitional Sovereignty Council, Lieutenant General Abdel Fattah al-Burhan, is expected to hold a joint meeting between the Sovereignty Council and the Ministers, to come up with a unified position on negotiations with the American side, especially the issue of normalization with Israel.   LINK

KTFA Members "News and Veiws" Thursday PM 9-24-2020

KTFA:

Don961:  {Central} and {International Monetary} discuss fiscal and monetary policy

Thursday 24 September 2020  Baghdad: Morning 

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, discussed with the International Monetary Fund bilateral cooperation in the areas of fiscal and monetary policy.

A bank statement said, "Al-Sabah" received a copy of it that "the two sides discussed during the meeting, which was held in a visual communication manner, issues related to the economic situation in Iraq and the fund's willingness and desire to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans."

The Fund's team also offered the congratulations of the Fund’s Executive Director, Hazem Al-Beblawy, to the Governor of the Central Bank on the occasion of his assumption of the position.   LINK

Iobey777:  This is Huge news!!! PAY ATTENTION!!!

Samson:  Iraq succeeds in exiting the list of high-risk countries

10:52 - 09/24/2020

The Ministry of Foreign Affairs has succeeded in reinstating the activities of 169 Iraqi companies and institutions out of the 230 entities banned by UN Security Council Resolution 1518, which classified Iraq as a "high risk" country, while seeking to lift the ban on the rest of the entities.

Foreign Minister Fuad Hussein sent a message to his counterparts in the European Union countries, in which he was surprised at the inclusion of Iraq on the list of high-risk countries in the field of money laundering and terrorist financing.

The spokesman for the ministry, Ahmed Al-Sahaf, said in a statement reported by the official Al-Sabah newspaper, which was seen by the information, that “the foreign minister, after meeting with a number of his European counterparts, the policy and security official in the European Union and other high-level personalities, succeeded in gaining their votes and support to lift Iraq from The list is complete very soon”.

Al-Sahaf added, "The entities and institutions covered by the ban extend their work to various sectors such as investment, economy, industry and other sectors," stressing that "lifting the ban on them will add support to the internal economy and facilitate their cooperation with the government." LINK

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Samson:  In the video: Iraq is emerging from the list of high-risk terrorism

24th September, 2020 

More than twenty-five million dollars of frozen Iraqi funds that were in Germany were delivered to the Iraqi authorities, according to the Ministry of Foreign Affairs, which talked about escalating steps to recover the frozen funds abroad.

Explaining that she has witnessed international cooperation embodied by the lifting of the ban on one hundred and sixty-nine Iraqi institutions and companies out of two hundred and thirty, specializing in various industrial, investment and production sectors that were suspended over the past years, by a decision of the UN Security Council.

The ministry indicated that the return of the activities of these companies and institutions will be positively reflected in the investment, economic, industrial and production levels in Iraq.

According to the Funds Recovery Department in the Integrity Commission, the Iraqi funds frozen outside the country are estimated at more than eighty-seven billion dollars, especially since the Iraqi laws authorize the Funds Recovery Fund in the Integrity Commission to work on retrieving them, but these laws require, according to political statements, understandings, grievances and courts in order to recover them. 

Something that the current government may have seemed to work on through its diplomatic steps, which were represented by the foreign minister's tour Fouad Hussein To many countries European Union.

Meanwhile, the government of the current Prime Minister Mustafa Al-Kazemi With European support, especially after the visit of French President Emmanuel Macron, especially since European countries praised his policy of balance Iraq And confirms its support for the government Baghdad At all levels of development and investment, as well as levels of energy and reconstruction.  LINK

DeepWoodz:  Possible return of 87 billion dollars to Iraq??? Wow, now that’s a lot of dinars right now! Need to get that before rate change!

Logger81:  IMO, absolutely huge and needed before Iraq can move forward with its monetary and economic reforms.

DELTA:  GREAT ARTICLE THANK U SAMSON FOR THE HARD WORK...87 BILLION DOLLARS OF IRAQI MONEY ....IF WE ADD IT TO CBI RECERVE WILL HAVE CLOSE TO $150BD....

Samson:  Iraq exports more than 80 million barrels of oil, with revenues exceeding three billion in a month

24th September, 2020

The Ministry of Oil announced today, Thursday, the total oil exports and revenues achieved for last August, according to the final statistics issued by the Iraqi Oil Marketing Company SOMO.

According to the spokesman for the Ministry of Oil, Assem Jihad, the amount of exports of crude oil amounted to 80 million 494 thousand and 536 barrels  eighty million four hundred ninety-four thousand five hundred and thirty-six barrels, with revenues of 3 billion and 492  million and 164 thousand dollars,  three billion four hundred and ninety-two million one hundred and four Sixty thousand dollars.

Jihad said in a statement received by Shafaq News Agency, that the total exported quantities of crude oil for the month of August from the oil fields in central and southern Iraq amounted to 77 million and 505 thousand and 136 barrels, with revenues of 3 billion, 359 million and 181 thousand dollars, while the quantities were Exported from Kirkuk oil through the port of Ceyhan 2 million and 989 thousand and 400 barrels, with revenues amounted to 132 million and 983 thousand and 280 dollars.

Jihad explained that the average price per barrel amounted to 43,384 dollars, indicating that the exported quantities were loaded by 29 international companies of various nationalities, from the ports of Basra and Khor Al-Amaya, and the single buoys on the Gulf and the Turkish port of Ceyhan. He indicated that the quantities and revenues of the exported crude oil shipments that were marketed at a price premium to achieve additional revenue during the month of July amounted to more than 89 million, 711 thousand and 782 dollars in total revenue.  LINK

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Samson:  Washington: An Arab country will sign a peace agreement with Israel within two days

24th September, 2020

Kelly Craft, the US ambassador to the United Nations, expected, on Wednesday, that another Arab country would join the process of normalization with Israel within the next two days.

Kraft said in statements to "Al Arabiya" channel in English that the United States "plans to join more Arab countries, which we will announce soon," adding that "another Arab country will sign an agreement within a day or two, and the rest of the countries will follow suit."

Kraft said the Americans hoped that Saudi Arabia would sign a normalization agreement with Israel. She added, "We will certainly welcome the fact that Saudi Arabia will be next (on the path of normalization), but what is important is that we focus on the agreements and do not allow the Iranian regime to exploit the good intentions of Bahrain, the Emirates or Israel." Israeli media refer to Oman, Morocco, and Sudan as potential candidate countries to join the US-sponsored normalization agreements with Israel.

The Israeli "Walla" website stated that the negotiations that took place in recent days in Abu Dhabi between the United States and Sudan regarding the possibility of concluding a normalization agreement with Israel ended without a breakthrough.

The website stated that the main dispute between the two parties revolves around the scope of the economic aid package that Washington will provide to Sudan as part of the normalization process. For its part, Israeli Channel 13 quoted sources who said it was Sudanese, saying that the results of the talks between Sudan and the American delegation in Abu Dhabi were "very positive", and that there is a great opportunity "in the near future" to announce the normalization of relations with Israel.

According to the sources, the future agreement depends on the United States' compliance with Sudan's demands, which mainly include intensive economic assistance and its removal from the list of states sponsoring terrorism.

On Wednesday, the head of the Sudanese Sovereignty Council, Abdel-Fattah Al-Burhan, said that his talks with American officials in the UAE dealt with several issues, including Arab peace with Israel, adding that the results of those talks will be presented to the institutions of the transitional government. LINK

MilitiaMan and KTFA Members Wed. Night "Financial Controls and Iraqi Debt" 9-23-2020

KTFA:

Don961:  Economic reform in Iraq

Tuesday 22nd September 2020

 Sabah Mohsen Kazem 

 Perhaps the preoccupation of everyone in Iraq is how to advance the economic reality and the long-awaited economic development for four decades, due to the futile wars, the economic blockade and the debt-tie of Iraq due to the successive Gulf wars, after the sun of freedom, hope was legitimate towards prospects for advancement, but the delay in development projects, and the emergence of a phenomenon Financial corruption, then the "Corona" pandemic and its consequences led to the cessation of economic activity. The Iraqi society looks forward to providing a decent level of services, as in neighboring countries - with educational and health services and various sectors.

Iraq, with its topographical diversity, can invest in its land from the marshes environment, agriculture and archaeological tourism, with the capabilities to develop oil industries in (Basra, Amara, Nasiriyah) and to invest in the Samawah desert that extends to the Saudi borders, while the presence of the holy shrines in Karbala and Najaf makes them a destination for visitors from all countries of the world if it is developed as it does. Saudi Arabia around the city of Mecca or Iran in the holy city of Mashhad, Turkey, and the interest in its religious monuments, and Egypt with its Pharaonic civilization, has turned to establish an industrial base after establishing electrical stations and important transportation routes.

The completion of the strategic Al-Faw port project, which makes Iraq an important corridor for global trade, is an economic necessity, at a time when economic reform (industrial-agricultural) is facing a state of confusion. The advancement of Iraqi development is what is expected of every future elected government.

In his book (Economic Reform in Iraq Between Theory and Practice) on page 25, Dr. Abdul Rahim Al-Shaddd confirms that the concept of economic reform: (It is an expression of the policies that make domestic expenditures in harmony with the available resources by creating a combination of financial, monetary, commercial and exchange rate policies.
To ensure the existence of aggregate local demand that matches the composition of the aggregate supply, as well as adopting measures that stimulate the goods and services sector, adopting microeconomic policies that seek to achieve efficiency in the use of resources by eliminating price distortions and promoting competition, as well as reducing administrative control, which leads to the restoration of The internal and external financial balance, reducing inflationary pressures and reducing their negative effects, leading to an improvement in the balance of payments ...). !!!!!! lol

The reform package appears with the development of the economic performance that is reflected in the individual's life, and the lifting of the daily suffocation that society suffers from ... and thus the realization of the dream of the desired economic well-being, if the politician seeks to work carefully for his countrymen, the Iraqi economy is able to revive.    LINK

This economist is supporting the importance of what they need to do to protect the citizens.

Post #46

Member of Parliamentary Finance: Every Iraqi child is born in debt with $ 3,000 of the country's debt

1,748 Economie 2020/09/22 21:27
Baghdad Today _ Follow up 

The reporter of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, said, Tuesday 9/22/2020, that Iraq's debts, when calculated and divided by the number of residents, that every Iraqi child who is born will be in debt, 3000 dollars, while he spoke about the file of appointments and salaries in the 2020 budget.

Ahmed Al-Saffar said, in a televised interview, followed by (Baghdad Today), that "successive governments have transformed the Iraqi economy from a producer to a rentier one that depends on a single resource, which is oil, and now there is no specific economic system in the country," indicating that "5% of the state's revenues It does not reach it as revenues from ports, taxes and customs.

Al-Saffar added, "The government is preparing a reform paper, and a committee has been formed that set goals and stages for economic reform through a white paper that includes solutions to reform the financial management of Iraq, which depends on borrowing and oil."

And he continued, "There are ministries that take more money than they need, and there is a waste of money and secrets who take high salaries, and the government does not know the number of its employees due to random appointments, especially partisan, and we have put in Parliament frameworks for a new salary scale to achieve justice among employees and we are waiting for a copy of the government to consider." .

Regarding the Iraqi private sector, Al-Saffar stressed "the failure of the public sector due to the state's economic system," noting that "one study says that the productivity of the Iraqi employee is 20 minutes a day," stressing at the same time the need to "move the stalled sectors such as agriculture in which the volume of what is planted has decreased. 48 million acres in 2003 achieved self-sufficiency, which reached 12 million.

Regarding the public debts owed by Iraq, the reporter of the Finance Committee in Parliament said, "If Iraq's debts are calculated and divided among the population, every Iraqi child is born in debt of 3000 dollars."

And the former central bank governor, Ali Al-Alaq, revealed, earlier, that Iraq's external debt amounts to about $ 23 billion, while the internal debt is about 40 trillion Iraqi dinars.

Al-Alaq said in his study on "lowering the exchange rate of the Iraqi dinar, determinants and alternatives," published by the official website of the Central Bank, that "Iraq's external debts amount to about $ 23 billion except for pre-2003 outstanding debts amounting to $ 40.9 billion." About 40 trillion dinars, representing treasury transfers and discounted bonds with government banks and the Central Bank of Iraq. "

Al-Alaq added, "When the country is in debt and pays its debts and interest on it in the currency of the creditor country, the burden of debts incurred by it in this case increases in the state's general budget as a greater amount of its national currency is allocated in repayment of its debt in foreign currency."

LINK

MilitiaMan:  Those that look at this closely may see that the former CBI Governor explained some about the country of Iraq's debt and a bit about that to pay external debts increases the budget.

The budget as we know for 2020 has not been fully exposed yet, imo. There is a reason for that, as to protect the rate in which debts are to be paid, just as the rate will have effect on the budget.

There are 40,222,212 citizens as of today and they say they have a debt of $3,000.00 USD per every new child born. Well that is just the debt. Feel free to do some math.

Imo, if you see what I see you may think like I do. It is nice a amount and then think about the budget, they need more value to pay for the budget too, hence they don't tell us directly.. imo

They do have solutions.. imo One being lowering the exchange rate, as in deleting the zeros from the exchange rate. imo ~ MM

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Iraq Population (2020) - Worldometer

1. Population of Iraq: current, historical, and projected population, growth rate, immigration ... The current population of Iraq is 40,422,212 as of Wednesday, September 23, 2020, ... Iraq ranks number 36 in the list of countries (and dependencies) by population. The population density in Iraq is 93 per Km2 (240 people per mi2).

The Central Bank is discussing with the International Monetary Fund the latter's readiness to help Iraq

104 Economie 09/23/2020 09:22 ta
Baghdad today - Baghdad

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheif, held a meeting today, Wednesday, through visual communication with the International Monetary Fund, to discuss the latter's preparations in helping Iraq.

"During the meeting, topics related to the economic situation in Iraq and the readiness and willingness of the fund to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans were discussed," the Central Iraqi Media said in a statement received by (Baghdad today).

He added, "The fund's team also offered the congratulations of the fund’s executive director, Dr. Hazem Al-Beblawi, to the governor of the Central Bank on his assumption of the position."

LINK

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https://www.google.com/search?q=what+are+financial+controls+for+countries&oq=what+are+financial+controls+for+countries&aqs=chrome.0.69i59.33719j0j7&sourceid=chrome&ie=UTF-8

"Financial controls are the procedures, policies, and means by which an organization. monitors and controls the direction, allocation, and usage of its financial resources. Financial controls are at the very core of resource management and operational efficiency in any organization."

MilitiaMan:  Now the thing about this article above is that the IMF is telling us they are prepared to help Iraq and in some very key places and one that is so very integral to the success of Iraq's reforms, is the Financial Controls.

They go to the core of what we are looking for.. imo... This is huge and why it is so important, it is related to the exchange rate, interest rates, etc..

The theme to this all is the Financial Controls have a very key roll in the exchange rate policy decision making. There is now no denying that there is a movement to get the country of Iraq to a social market economy, imo.

With the help of the International Monetary Fund involved!!! This is going to be seen to the end and that is a good thing!! imo ~ MM

Delta and KTFA Members Wednesday PM 9-23-2020

KTFA:

Don961:  The Central Bank is discussing with the International Monetary Fund the latter's readiness to help Iraq

104 Economie 09/23/2020 09:22 ta  Baghdad today - Baghdad

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheif, held a meeting today, Wednesday, through visual communication with the International Monetary Fund, to discuss the latter's preparations in helping Iraq.

"During the meeting, topics related to the economic situation in Iraq and the readiness and willingness of the fund to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans were discussed," the Central Iraqi Media said in a statement received by (Baghdad today).

He added, "The fund's team also offered the congratulations of the fund’s executive director, Dr. Hazem Al-Beblawi, to the governor of the Central Bank on his assumption of the position."LINK

DELTA:  Taif Islamic Bank

FOR THE FIRST TIME IN IRAQ YOU CAN EXCHANGE DINAR WITH DOLLAR  BETWEEN YOUR ACCOUNTS........   

MW:  What are you telling us Delta??

StephenMac63:  Imo, demonstrating that an iraqi bank is able to issue travelers cheques in usd , therefor a way of self reconciliation in an international based transaction

Saddlebred:  INTERNATIONAL - Travel Abroad…woohoooo

SephenMac63:  Some may not see the fine print.....look at the routing number.....then google the number and see what the result is.

Ikaika:  Bank of new York Mellon

StephenMac63:  Can we say "mirror"? (smile)

Chappy86:  International Money Transfer

Sirenfire:  If you look closely they are also using IBAN system. …plus the 200 check lol ….looks like a win win to me imo 

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Samson:  Expert: We are heading to a major economic crisis, additional debts, and public pressure

08:40 - 09/23/2020

Economic expert Ihssan Al-Kinani said that Iraq is on the verge of a major economic crisis during the next year, pointing out that the government will resort to borrowing again amid public pressure and appeals to implement the people's demands.

Al-Kinani told "the information", that "the Corona pandemic has not ended and the oil market will need more time in order to recover, and that may need more than a year."

He added that "Iraq's dependence on oil to supplement the budget will lead to additional debts and the government's request to borrow again, and it may resort to making changes in the budget next year, and it will also delay its delivery to Parliament."

And that "the continuation of the status quo threatens to bankrupt the treasury of Iraq.", and it is better to go towards non-oil revenues such as real estate and the sale of lands to citizens, open the door to investment in infrastructure, cancel the current telecommunications companies, and bring in local companies whose revenues are for the state, and this alone will achieve the largest non-oil revenue that will supplement the budget with large sums."   LINK

Samson:  Foreign Ministry: Iraq recovered $ 25 million from Germany

23rd September, 2020

On Wednesday, the Ministry of Foreign Affairs confirmed the escalation of its steps to return the frozen funds from various countries, while indicating that the ban was lifted on 169 institutions and companies out of 230, specializing in various industrial, investment and productive sectors

"The ministry is pursuing frozen funds in various countries, as we succeeded in recovering more than 25 million dollars that were in Germany and it was handed over to the competent Iraqi national authorities," the ministry’s spokesman, Ahmed Al-Sahhaf, said in a statement reported by the official news agency INA. "Our steps in this direction are increasing and growing

He added, "The Ministry has made a great effort with national authorities at different levels, sectorally and according to jurisdiction, and in coordination with the permanent representation of Iraq in the United States of America, to follow up on legal procedures, coordinate and communicate with all parties, until we succeeded in lifting the ban on 169 Iraqi institutions and companies out of 230." Its business specializations span various industrial, investment and productive sectors

He explained that "the return of 169 Iraqi institutions and companies to service, which were suspended over the past years, according to Security Council Resolution 1518, are now back in service and the ban has been lifted. He stressed, "The re-activities of these companies and institutions will reflect positively on the level of investment, economic, industrial and production in Iraq

Al-Sahhaf noted that "our strategic vision in the ministry is to go far to include all Iraqi institutions and companies that are banned by lifting this ban," stressing, "We are nearing the ends to resolve this file

LINK

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Samson:  Deputy: Key Card is "the core of corruption" and recovering Iraqi money is an absolute priority

11:39 - 23/09/2020
A member of the Nasr Coalition, Representative Nada Shaker Jawdat, confirmed , on Wednesday, that Ki Card is the core of corruption in the country.

"Corruption is rampant in all parts of the Iraqi state, including ministries and institutions, without exception," Jawdat said in an interview with "the information", pointing out that the corrupt are affiliated with agencies that provide support to them, stressing that the Q-Card is the core of corruption in the country.

Jawdat added, “In recent days, some of those with financial and administrative corruption files have been arrested, but the most important thing for the Iraqis is to recover their money stolen by the corrupt, especially since the country suffers from a difficult economic situation created by the persistent corruption for many years to the point where many segments pay the price, calling for the honest Iraqi judiciary. The just thing is for him to have steps in retrieving money from the corrupt.

And Iraq suffers From a significant increase in financial and administrative corruption rates in recent years, causing great harm in terms of deteriorating basic services.  LINK

Samson:  Integrity: Preventing 27 billion dinars from being wasted within three months

23rd September, 2020

On Wednesday, the Integrity Commission disclosed the entirety of the seizures carried out by its investigation departments and offices within three months, calling on all citizens to report cases of corruption. In order for the Commission's teams to arrest those accused of the flagrante delicto

In a statement received by Al-Eqtisad News, the investigation department of the authority said, "The operations carried out for the period from 1/5 to 7/31/2020 indicated the implementation of (97) seizures in Baghdad and the provinces, which resulted in the arrest of (85) accused

The department explained that “the cadres of the Basra Investigation Directorate carried out (20) operations, including seizing (110) transactions for state-owned real estate valued at (5,000,000,000) billion dinars, which are sold at prices not commensurate with their real value, in addition to containers and trucks containing various materials intended for smuggling. It is not allowed to enter Iraq, as it is prohibited from importing

She added that "the Nineveh Investigation Directorate has carried out (10) seizures, the most prominent of which is the arrest of an accused person who impersonated a parliamentarian, contacting the Governorate Education Directorate in his personal capacity, as well as seizing employees in the Nineveh Health Department with exchange documents related to the operational budget that were disbursed against the law, And stopping the payment of the salaries of retirees with a ki-card, forcing retirees to replace their cards with a new card, and withholding sums of money in contravention of Cabinet Resolution No. 270 and the instructions of the Central Bank

And it indicated that “(147) fraudulent retirement transactions related to victims of terrorism were seized in the National Pension Authority - Anbar Branch, and the total amounts were (10,000,000,000) billion dinars, and the file of granting an investment loan in Najaf was seized at (7,000,000,000) billion dinars without adequate guarantees, and another loan. With (5,000,000,000) billion dinars, in return for a real estate guarantee previously provided by the same borrower for another loan, and its value is not sufficient to cover the loan amount

The department confirmed that “the activity of the field team in the health sector revealed the existence of suspicions of corruption in the contracts for the supply of testing equipment and diagnostic equipment for the Coronavirus, amounting to nearly (400,000,000) million dinars, which the Kirkuk Health Department contracted, pointing to the arrest of a number of people accused of trespassing and seizing property belonging to the state. In Kirkuk, and the defendants built residential homes and commercial stores on them

The authority called on all citizens to cooperate with it by reporting cases of corruption, bargaining and extortion that they may be exposed to during their visit to state institutions, by contacting the agency’s outlets designated for this, urging them to visit its official website. For ways to report corruption cases

LINK

MilitiaMan and KTFA Members "WOW" Tuesday 9-22-2020

KTFA:

Samson:  In the first decision ... the new central bank governor settles a controversial matter

22nd September, 2020

The Central Bank of Iraq confirmed, on Tuesday, that it is taking a new mechanism to manage and improve the Iraqi currency, indicating that it decided to use the official signature on the banknote, and not to sign in the name, a matter that previously sparked widespread controversy in the country.

The bank’s media office said in a statement that Shafaq News Agency received a copy of, that “The Governor of the Central Bank of Iraq,   Mustafa Ghaleb, chaired today, Tuesday, a meeting of the currency affairs committee in this bank in the presence of all members.” 

The statement quoted Makhif as emphasizing "the importance of following the context of the official signature on the exported currency, and not using the signature with the name that was previously approved by the committee in a previous meeting."

This is his first chilling decision since he was appointed to his post last week.

The new governor indicated that "the committee discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management." 

It is noteworthy that the Central Bank of Iraq issued in 2018 a banknote of one thousand five hundred two hundred and fifty dinars, and the name and signature of the governor were added to the design of the currencies.  

Specialists have criticized that procedure. The economic expert, Salam Sumaisem, told Shafaq News at the time that the governor of the Central Bank, Ali Al-Alaq Agency, committed a "major violation" by placing his name on the Iraqi currency in its new edition, adding that "changing the signature is not something easy for a central bank governor.

This signature is approved in Countries of the world, especially in international banks, which are member states of the International Monetary Fund, "wondering," Is there any currency of a strong country in which a person's name is on it? Is the Iraqi dinar crushed to this degree until it is made in the name of a person?"   LINK

MilitiaMan:  Wow, this is telling me that they have every intention to raise the value of the currency. The importance is straight forward and addressed. It is my understanding and maybe Delta can shed light on this, but, we know they have been printing small notes (possibly coins) in 2018 and more recently in 2019 and 2020..

They had issue with Alak's name on of the categories. Imo The new CBI GOV has been around along time and would have known about all of this, thereby, imo they have that issue under control and we are about to see a big change and much improvement to the management of the new currency.. imo ~ WOW

This article about the smalls is awesome. It sure shows us they have an incredible intention to use the smalls.. That is a good thing. Lol  ~ MM

Clare:  YES!! WOW.......   MM      raising and improving the level of currency management."

The committee discussed a number of issues and took a number of decisions that would contribute to raising the level of currency management and improving it, 

Edna:  Yeah but does this mean we have to wait till they replace all the currency that had Alak"s signature on before they raise the value is my question...???

MilitiaMan:  My belief is no. My understanding based off the CBI history of money spent and subsequent money spent more recently in the printing of money, that would have been done already.. imo They would not broadcast new category money coming out at this stage to allow people to front run the currency. This is more in line with they are all set now. imo Apply all the data from the CBI Gov. HE got the green light for the direct implementation of  reforms. imo ~ MM

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GodLover: Just keep in mind that it will not happen imo during the 1st currency swap at a PR that teams thinks could take start this week & last 30 days in their opinion.....imo
Also keep in mind all the articles stating the reforms will be in the 2021 budget & stating they will NOT be in the 2020 budget....imo per articles. As well, keep in mind that the second currency swap is in team's opinion for 30-60 days at a 1-1 rate imo. Logic says this can only take place after the fact (rate change) imo. As for me, I look to very end of this year &/or early next year imo.  

MilitiaMan:  “Article 62 of the constitution requires the government to submit final accounts to Parliament before approving the budget. As for Article 8 of Financial Management Law No. 6 of 2019, the Ministry of Finance and Planning is required to submit the draft general budget law to the Council of Ministers first. September of every year”.

MilitiaMan:  We don't all agree we are looking for the 2021 budget. The rate will precede it. The rate doesn't need the budgets the budgets need the rate, hence they are still talking about the 2019 FMLA.. They have to sort all budgets up to date prior too the new one that will be different. They are not talking about direct implementation and then small category notes to go out to 2021. That imo makes no sense what so ever, especially now with the hiding of the 2020 budget details. So, those that may want to look for 2021, great. It doesn't include my view. A fact.  ~ MM

GodLover:  You claim they are hiding the 2020 budget, yet they state amendments are needed for borrowing which even was mentioned on the cc imo. And yes, I agree the budget needs the rate as I have stated so.....however, it will NOT be usable until opened in the specific budget implemented in imo. Obviously our "logic" differs which is ok. I just suggest everyone stays grounded. imo  

MilitiaMan:  They told us the budget will have investment money used for the operational side. Maybe that was over looked, don't know. I didn't miss it. I believe they can take money and put it into the investment side of the budget then, for instance in energy investments, i.e., GE and Siemens they put the money to the operational side of the budget. Hence, the article told us they couldn't talk about the terms. Well  when talking terms (rate) they needed to be hush hush, thus, my logic is they are hiding it.. imo Just as they are prior to exposing the 2019 FMLA in the 2020.. Hope that makes sense.. ~ MM

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Deputy: 35 trillion dinars are stored with the people who refuse to deposit them in banks  LINK

MilitiaMan:  Once they bring or add Purchase Power to the new small category notes, the liquidity will begin to absorb those large amounts of notes. The sooner the better too.. lol imo ~ MM

Samson:  Parliamentary integrity calls for the issuance of a travel ban for all those around whom suspicions of corruption are raised in Iraq

20:43 - 09/21/2020

Member of the Parliamentary Integrity Committee, Representative Jawad Hamdan, called, on Monday, to issue a judicial decision banning travel to all those around whom suspicions of corruption in Iraq are raised.

Hamdan said in an interview with "the information", that "corruption is a dangerous file and must be addressed firmly, stressing that the first measure that the judicial authorities should take is to prevent travel for all those around whom suspicions of involvement in financial and administrative corruption files are raised."

He added, "The travel ban is a legal and precautionary measure so that the suspects are always in the grip of justice until the completion of investigations and the issuance of judicial decisions, considering that the travel ban is a very important decision in the fight against corruption."

Several personalities were recently arrested on charges related to financial and administrative corruption in several governorates.   LINK

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Samson:  Representatives are optimistic about the work of the Corruption Crimes Commission: it could bring down big heads

22nd September, 2020

The parliamentary sources confirmed that the House of Representatives submitted dozens of corruption files to the Integrity Commission, which in turn transferred it to the Supreme Judicial Council to take action against those convicted of those files.

The sources expressed their optimism about the work of the Corruption Crimes Committee during the next stage, indicating that the investigation with some figures may lead to the removal of large heads for their involvement in these files.

Parliamentary sources called for the application of the Where do you get this law, in conjunction with the campaign launched by the Prime Minister against corruption, in order to hold all officials and politicians accountable for the money they have.  LINK

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Don961:  Whales and {where did you get this} are on the waiting list

Tuesday 22nd September 2020  Baghdad - Al-Sabah: Omar Abdul-Latif

 The secret circles surrounding the heads and whales of large corruption are awaiting the next steps that the executive authority will take to strike corruption within the campaign that began days ago, while a parliamentary source confirms to Al-Sabah that 98 percent of the work of the permanent committee on corruption crimes has not started yet, and will start in the stage In the coming neighborhood, calls have escalated to include the campaign to hit the corrupt in other areas outside Baghdad, including Kirkuk and the Kurdistan region.

The government stated in more than one statement that the arrest of some personalities is only the beginning of the work of the permanent committee to combat corruption and the major crimes files that were formed under the leadership of Major General Ahmed Abu Ragheef, and these arrests constitute only 2 percent of the committee's work, amid expectations that the majority of the committee's work will be in The next stage is directed at whales and large dragon heads accused of corruption.

The House of Representatives as an entity that exercises the oversight role; Filing dozens of corruption files to the Integrity Commission, which in turn transferred it to the Supreme Judicial Council to take measures against those convicted of these files. In his speech to Al-Sabah, Representative Raad Al-Maksousi expressed his optimism about the committee’s work during the next phase, as it could lead to investigation with some personalities Detainee had to overthrow large heads for their involvement in those files.

Among the bodies that joined and represented in the work of the committee is the Iraqi National Intelligence Service. The efforts and capabilities of the agency can be harnessed in pursuing the corrupt and revealing their obscene wealth. The head of the Rafidain Parliamentary Bloc, Yonadam Kanna, calls for the campaign launched by Al-Kazemi to implement the law (from where did you get this), In order to hold all officials and politicians accountable for the money they have, the campaign also includes the relatives of those responsible.   LINK

KTFA Monday Night CC with Frank26 and more....9-21-2020

KTFA:

KTFA MONDAY NIGHT CONF CALL..7PM EST 9-21-2020

PLAYBACK IS: 605.313.5163 PIN: 156996#

Frank27 and Team:  9-21-20. WHITE SUIT.......WHITE PAPERS

THIS IS ALL IN FRANK'S OPINION

https://www.youtube.com/watch?v=kOWyYQ334xs

Samson:  Global banks transfer "suspicious" money estimated at more than $ 2 trillion

21st September, 2020

Leaked documents from the Financial Crime Agency at the US Treasury Department published by the International Federation of Investigative Journalism on its website revealed suspicious banking operations, whose value exceeds about $2 trillion.

The US Financial Crime Agency files consist of more than 2,500 documents, most of which were files that banks sent to US authorities between 2000 and 2017 that raised concerns about what their customers might do.

Banks transferred money to people or entities who were unable to identify them, and in many cases failed to provide required STRs for years afterward.

Jim Richards, former head of anti-money laundering at Wells Fargo & Co said . And Bank of America Corp. It is "the nature of the banking business that they move money", and despite all efforts to eradicate this, there will always be some criminal money moving through the banking system. It's a tiny fraction of the trillions of dollars that they deal with every day."  LINK

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Samson:  An Iraqi ministry reveals thousands of double wages and recovers billions of dinars

21st September, 2020
The Ministry of Labor and Social Affairs revealed, on Monday, thousands of double-payers who exceeded the social protection benefit, noting that more than (5) billion dinars were recovered from the transgressors.

The Minister of Labor and Social Affairs, Adel Al-Rikabi confirmed, in a statement received by Shafaq News, that "the ministry will deal legally and firmly with double-wage workers who overstep the social protection benefit and the salary of a full-time employee, who numbered about 20,000 employees from the state ministries and agencies.

Al-Rikabi directed, during a meeting with the Vice President of the Authority for People with Disabilities and Special Needs, the Vice President of the Social Protection Authority, the General Director of the Social Protection Fund, the General Director of the Department of Planning and Studies, and the Director of the Information Technology Center to "recover the sums from the employees of double salaries as soon as possible to allocate them for the inclusion of citizens Renewed from the deserving poor."  He pointed out that "the deductions will be in the form of one batch or batches according to the ministries, provided that the time limit for returning the amount does not exceed five years, otherwise the employee will bear penalties according to the discipline of state employees."

In turn, Director General of the Social Protection Fund at the Ministry of Labor, Jacqueline Salioua, said, “The fund, with direct follow-up from Minister Adel Al-Rikabi, was able to recover five billion and (452) million dinars from the beginning of the year until mid-September, despite the circumstances of the Corona pandemic and the curfew and health curfew and the work stopped in Some times".

She added that "the cadres of the social protection departments and the fund have intensified their efforts to implement the minister's directive to follow up on state funds that have been exceeded, recover them and return them to the state treasury with a view to preserving public money." LINK

Samson:  An economist warns of a financial method that the government may resort to to overcome its crisis

08:31 - 09/21/2020

The economic expert, Wissam Al-Tamimi, warned of a financial option related to raising the value of the dollar against the dinar to reduce the financial crisis, pointing out that this method will increase the value of goods, goods and all consumer materials.

Al-Tamimi said to "the information", that "the government does not find alternatives to overcome the financial crisis, it may resort to a plan to reduce the value of the dinar against the dollar, which is an option that increases the suffering of the citizen and raises the price of all foodstuffs and goods."

He added that "the salaries of employees will also be affected in the event of raising the dollar exchange rate against the dinar, although the employee will not make any change to his monthly salary, but its value will decrease greatly."

And that "the government's resort to such an option will be considered a robbery for the people, but legally, and the best is to follow the method of alternatives, support the national product, open the door to investment in infrastructure, release lands and empty spaces for investment and sell them to citizens in order to provide the necessary money to overcome the crisis."  LINK

MilitiaMan and KTFA Members Monday PM 9-21-2020

The citizens want what we want and then some. They want PP, jobs, clean water and fresh food, 24/7 electricity, internKTFA:

Samson:  Parliament of Kurdistan: Al-Kazemi's visit to the region did not produce anything

15:56 - 09/21/2020

The deputy in the Parliament of Kurdistan, Sirwan Baban, considered Monday that the visit of the President of the Federal Government, Mustafa Al-Kazemi to the region, did not bear fruit.
Baban told "the information" that "Prime Minister Mustafa's recent visit to the Kurdistan region is useless," adding that "it was a party-show honorary to evade the implementation of the basic duties regarding the Iraqi citizen." He pointed out that "nothing has been verified until today."

On Friday evening (September 11, 2020), the Prime Minister, Mustafa Al-Kazemi, concluded his tour that included the provinces of the Kurdistan region, which lasted for two days, during which he held a series of meetings with officials in the regional government, as well as Massoud Barzani.   LINK

MilitiaMan:  Nice how they take an article and make it look terrible and yet it is a gem.. et, investments, etc..

We see that the 2020 budget has been the main focus these las few days. Even yesterday it was sent back to the FM as "" paragraphs were needed to be added. One might wonder what that is all about. My view, is they want the rate associated with the budget which may be the 2019 FMLA. We today see two things. Barzani saying something in respect to help the citizens was needing to be verified and it was today.

Then we see the HoR gets the budget for 2020 back in the house with paragraphs added so it appears. Well, what are the paragraphs about? I am not totally sure, but, hoping it is what we think is so sensitive that they don't spell out openly, just yet being a rate..

Is it possible the clue is in what Barzani is saying , "nothing has been verified until today", the key phrase of a life time, lol? We shall see. imo I am thinking things are still very good.!!

The private sector is ready now, too!!.. imo Very bullish for us now, as if they are ready for the private sector and investors, they need an internationally accepted and traded currency.. imo ~ MM

After its arrival to Parliament, Parliamentary Finance reveals the reason for the delay in sending the budget for a week from the government   LINK

Parliament receives the draft federal budget bill for the year 2020   LINK

Barzani: The region is ready to facilitate the work of the private sector and investors   LINK

MilitiaMan:  Back and forth with the 2020 budget and then with paragraphs added, along with the Kurds ready for the private sector and investors all based off verifications today?.. Yes, looks as though things are coming along just fine, gainfully so? Sure.. lol !! imo ~ MM 

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Khalaf: The financial sector is required to support the energy sector  LINK

MilitiaMan:  More evidence supporting the view that a new system is coming to Iraq and E-Finance, E - Government will be hand and glove going forward. This too, supports the movement of money is to be from and center. Not 3 months from now. Just like Barzani said today. We have verification from Kahdimi and we are ready for investors and the public sector! That is now.. Not in 2021 imo..  ~ MM

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Samson:  An economist warns of a financial method that the government may resort to to overcome its crisis

08:31 - 09/21/2020
The economic expert, Wissam Al-Tamimi, warned of a financial option related to raising the value of the dollar against the dinar to reduce the financial crisis, pointing out that this method will increase the value of goods, goods and all consumer materials.

Al-Tamimi said to "the information", that "the government does not find alternatives to overcome the financial crisis, it may resort to a plan to reduce the value of the dinar against the dollar, which is an option that increases the suffering of the citizen and raises the price of all foodstuffs and goods."

He added that "the salaries of employees will also be affected in the event of raising the dollar exchange rate against the dinar, although the employee will not make any change to his monthly salary, but its value will decrease greatly."

And that "the government's resort to such an option will be considered a robbery for the people, but legally, and the best is to follow the method of alternatives, support the national product, open the door to investment in infrastructure, release lands and empty spaces for investment and sell them to citizens in order to provide the necessary money to overcome the crisis."  LINK

MilitiaMan:  They are known for starting out with the bad and end with the good. We all know that the plan is for the best!! imo This is actually a good article if you look at in terms of propaganda. They expect most will not read the whole thing an throw up thier hands.. etc.. imo It is a very common practice even in western media.. So look at it like Barzani has stated, they are ready for the private sector and investors to come in. That is the best method to fix the crisis. Those paragraphs in the 2020 budget just may have the best method in mind too.. imo ~ MM

BearCinnebar:  IMO, remember when reading " RAISING THE VALUE OF THE DOLLAR AGAINST THE DINAR " in these various articles it is coming from Iraq's perspective right, so it is helpful to know the chart that newshound Samson brought in before.

Here it is again:  the numbers decrease for Iraq and the numbers increase for Forex:

When we finally see our IQD listed on FOREX you won't see it as a dollar amount.  You'll see a "factor" and it requires a simple math step to get to what we want to know - how many $'s we get for each Dinar.

All FOREX listings are listed in pairs - comparing the USD to some other currency.  They will all show a different numerical factor against the USD.        USD/CAD, USD/EUR, USD/IQD

Using the program rate of 1190 you would divide $1 by 1190 = .00084 
So you will see it on FOREX listed as  USD/.84       $1 divided by .84 = $1.19
And.......
USD/0.537 = $1.86          ($1 divided by .537 = 1.86)
USD/0.400 = $2.50          ($1     "       "  .400 = 2.50)
USD/0.333 = $3.00          ($1     "       "  .333 = 3.00)
USD/0.243 = $4.11          ($1     "       "  .243 = 4.11)  

Also ....

$ RATE = WHAT YOU WILL SEE ON FOREX …. WHEN IT RI’S/RV’S …..  See:  the numbers decrease as they enter the Forex:  Iraq is speaking from this perspective more than likely:

$.86   = 1.162…….. 

$1.00 = 1.000……… 

$1.17 = 0.854………. 

$1.86 = 0.537…….. 

$2.00= 0.500……… 

$2.50 – 0.400……..

$3.00 = 0.333……

$3.22 = 0.310….. 

$3.46 = 0.289…….. 

$3.50 = 0.285 ……… 

$3.86 = 0.259…….. 

$4.00 = 0.250……… 

$4.10 = 0.243…….. 

$4.40 = 0.227………

$5.00 = 0.200……..

 MilitiaMan:  Thank you. Cheers to you for refreshing our memories!! ~ MM

BGLight13:  Cinnabear's math is correct...the numbers calculated are at the PROGRAM RATE....a long time ago Delta gave the same numbers....

What you see when $ RATE = WHAT YOU WILL SEE ON CBI AND FOREX….WHEN IT RI’S/RV’S AT THE PROGRAM RATE are the numbers calculated by Cinnebear....

PER DELTA…. LONG TIME AGO …. $ RATE = WHAT YOU WILL SEE ON CBI AND FOREX….WHEN IT RI’S/RV’S…..
$.86 = 1.162
$1.00 = 1.000
$1.17 = 0.854
$1.86 = 0.537
$2.00= 0.500
$2.50 – 0.400
$3.00 = 0.333
$3.22 = 0.310
$3.46 = 0.289
$3.50 = 0.285
$3.86 = 0.259
$4.00 = 0.250
$4.10 = 0.243
$4.40 = 0.227
$5.00 = 0.200

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Samson:  House of Representatives raises its meeting to tomorrow Tuesday

21st September, 2020
The House of Representatives lifted, on Monday, its sixth session of the fourth parliamentary session for the third legislative year, while it decided to hold its seventh session tomorrow, Tuesday.

The Media Department of the House of Representatives stated, in a brief statement that Mawazine News received a copy of, that "the House of Representatives has adjourned its session until tomorrow, Tuesday, 9-22 at 12 noon." Today’s session witnessed the parliament's finalization of a report and discussion of a draft amendment to the Federal Supreme Court Law No. 30 of 2005.

During the session, the Council also ended the first reading of the draft law on the accession of the Republic of Iraq to the Convention on Limits of Liability for Maritime Claims of 1976 in its amended version of the 1996 Protocol, including In that amended liability limits therein. Also, during today's session, Parliament ended the first reading of the third amendment bill to the Industrial Investment Law for the private and mixed sectors No. 20 of 1998.

Parliament read the first reading of the law on the accession of the Republic of Iraq to the Convention on Limits of Liability for Maritime Claims of 1976 in its amended form in the 1996 protocol, including This is the amended liability limits in, and also the first reading of the Third Amendment Law of the Industrial Investment Law for the Private and Mixed Sectors No. (20) for the year 1998.

Today’s session witnessed the first reading of the law replacing freedom deprivation with sums of money. Today, Monday noon, the House of Representatives held its sixth session of the fourth parliamentary session of the third legislative year, in the first legislative term, headed by the First Deputy Speaker, Hassan Karim al-Kaabi, and in the presence of 170 deputies.    LINK

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Transportation went to buy steamers to work in the large port of Faw

21st September, 2020

The Minister of Transport, Nasser Hussein, instructed to purchase steamers to work hard in the large Faw water

"The Minister of Transport visited the headquarters of the General Company for Maritime Transport in Basra Governorate and directed the company to develop its work by purchasing ships to work forcefully in the large port of Faw" LINK

Parliament hosts a minister to discuss a bill making Iraq the world's commercial destination  LINK

MilitiaMan:  There is no doubt they are gearing for the expansion and reconstruction of the port and country for that matter. The place is going to be a mecca for the area again one day. Now is the time to get started and they need the rate to facilitate the mechanisms to do so.. imo ~ MM

MilitiaMan and KTFA Members "Urgency Is In The Air" Sunday PM 9-20-2020

KTFA:

Samson:  The Central Bank adopts a paper to reform the banking sector

20th September, 2020

The Central Bank’s Media Office announced, on Sunday, that the bank’s board of general directors has adopted a paper to reform the banking sector

The office said in a statement that "Al-Eqtisad News" received a copy of it, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, chaired a meeting of the Bank's General Directors Council

The statement added, "The meeting discussed a number of issues, the most prominent of which was preparing a paper for reforming the banking sector, as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

LINK

Banking sector reform LINK

20th September, 2020

 His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif Al-Kitab, chaired a meeting of the General Directors Board of this bank on Saturday, September 19, 2020

The meeting discussed a number of issues, the most prominent of which was “preparing a paper for reforming the banking sector,” as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

  The Central Bank of Iraq

Media Office   Baghdad

September 20, 2020

MilitiaMan:   The direct implementation of the banking reform paper is as many point out and the Final Articles thread has been updated with this news. Seems Delta was on to this a while back, i.e., delete the zeros article, strengthening the Iraqi Dinar, etc..

I understand the new CBI Gov., has a long history with the CBI in the legal department. Why is that important? Well, legal departments help write legal papers. The legal reforms are not new for this endeavor they are on in getting to a social market economy.

Mustafa Ghaleb Makhaif Al-Kita would have been involved all along. Hence, the PM Kahdimi picked him for the job of CBI Gov. The article talks about adoption of the reform papers. Done. They are now to be directly implemented. That would appear to be a pointed statement at this time frame we are in. 

Lets look at a few other things that are on the table for what appears to be urgency. The 2020 budget is on many minds lately, as it would and should be.

The official terms of the budget bill are known, but, not just yet meant for public consumption. There are those that have a need know though, which imo they do know just as Al-Saffar does, that being Siemens and General Electric. All of them are centered around the 2020 budget. Not the 2021.

Notice the quote just below in bold, it shows they have a mechanism to facilitate money movement for the investment side of the ledger to the operational side. Think of it as money being set aside for investment, then using that money in the activation for said investment, operational. That being electricity from two international entities from both Germany and the USA. 

The theme is that I see is centered around today real close and the 2020 budget. It will be determined if today was fruitful or not for us, as it looks to be on the table for them for sure. They say the budget was to arrive in parliament today. Did it or not? I have not seen it yet. The day is not over though.. Close, but not yet. lol imo. ~ MM

""Securing the sums went through a series of procedures between his Ministry of Finance and the General Secretariat of the Council of Ministers and with the support of the Prime Minister, which resulted in securing the salaries of the two tranches and transferring their allocations from the investment budget to the operational one." (see below)

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It arrives to Parliament today ... The Finance Committee comments again on the items of the 2020 budget LINK

20th September, 2020
The Finance Committee in the House of Representatives expected that the 2020 budget bill, which was approved by the Council of Ministers, will arrive in Parliament today, Sunday.

The committee's reporter, Ahmed Al-Saffar, said that "due to the inconsistency in the information related to the budget terms and accusing the committee of delaying it, we issued a statement confirming that its bill did not reach the parliament."

Al-Saffar confirmed that "the figures circulated by the media regarding the terms of the budget bill are untrue," indicating that he cannot currently declare "the project's terms officially, despite his knowledge of them."

The media had circulated different numbers regarding the draft budget law for 2020, such as the percentage of deficit in it, the amount of its need for internal and external borrowing to secure the salaries of employees and retirees, and the expected revenue ratio.

SAMSON said (Post #31)

LINK

Electricity announces the payment of salaries of contract holders and daily wages

"Ministry of Finance and the General Secretariat of the Council of Ministers and with the support of the Prime Minister, which resulted in securing the salaries of the two tranches and transferring their allocations from the investment budget to the operational one. He disclosed that "their salaries will be paid for the month of March today, Sunday, provided that the rest of the months will be paid with retroactive effect after the budget is approved."

"Hantoush said that there is continuity in the implementation of the  road map concluded with Siemens and General Electric to improve the situation of electricity in Iraq. He pointed to "the necessity of having a part of its sums available through the state, which he stressed that, once the budget is approved, 15 percent of their loans will be paid to activate their work and that "the two companies continue to work in all work sites in the country, especially since the work period lasts for ten years."

LINK

Parliamentary Finance reveals the share of the Kurdistan region in the 2020 budget

19:03 - 20/09/2020

The Parliamentary Finance Committee revealed, on Sunday, the size of the Kurdistan region’s share in the draft federal budget law for 2020.

Committee member Ahmed Hama said in a statement to / information /, that "the share of the Kurdistan region within the draft federal budget law for the year 2020 amounted to 12 trillion Iraqi dinars and 606 million dinars," noting that "the budget will be decided in the coming days."

He added that "the draft federal budget law for 2021 has not yet reached the House of Representatives, and the region’s share in it has not been definitively determined," noting that "the 2021 budget is still in the process of discussion and preparation within the Council of Ministers."

The Parliamentary Strategic Planning Committee indicated, last Sunday, that the draft federal budget law for 2021 will include new funding sections to get rid of the oil appropriation. 

MilitiaMan:   Notice the Kurds are said to have the federal budget law for the 2020 at a program rate (trillions), yet, they have not told us the terms from the Federal Gov., yet today. Thus, those numbers above could be in an equivalency basis, once the actual terms get released. imo

The 2021 is to be different, and yes it is to be so for a much longer period of time. 3 years they say. It will have a new component to it that is not only from oil. That is big, as the amount of revenues from the borders will be massive in the long run. 

Another thing we see today is the theme of reconstruction and the private sector. The minerals and mining deals for a steel plant for hundreds of tons of materials to be used to re build. Factories and industry are all key components for a new market economy to thrive.

Looks like with the CBI gov and all the budgetary issues in the news, things are on track to do and show us just what they want out of the white papers, the is reforms both monetary and economic!!! Powerful, times and they suggest the urgency is in the air, big time now. imo ~ MM

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Don961:  On Sunday, the Central Bank of Iraq called for caution and caution from the celebrities of Swiss Media.

Economie   2020-09-20 | quarter to six

The bank said in a statement that Alsumaria News received a copy of that “All licensed non-bank banks and financial institutions must take utmost care and caution over financial movements that take place through (bank accounts, electronic wallets, and electronic payment cards of all kinds) for famous social media, as well as developing scenarios. Discover the money laundering operations of these institutions in a manner commensurate with these cases, in coordination with the Office of Combating Money Laundering and Terrorist Financing, if necessary.

 He added, "We urge that strict due diligence measures be taken on the financial movements of the owners of electronic stores (owners of e-marketing sites and marketing through social media)."

 The Central Bank of Iraq was established as an independent bank under its law issued on the sixth of March of the year 2004, as an independent body, and it is responsible for maintaining price stability and implementing monetary policy, and supervises 10 commercial banks, 26 private banks, 16 Islamic banks, in addition to 19 foreign banks, in addition to About 6 financial institutions and 31 money transfer companies.   LINK

MilitiaMan:  In other words, imo the CBI has announced that the electronic age is here and don't get caught cheating and or stealing, as we have eyes on everything from here on out.. Wow. The CBI has been talking lately.. I like it. Especially with the implications of the electronic importance to security while there is on going development scenarios play out. Block Chain, QFS, New FedNow SM, all will be on going scenarios right along side Iraq, and others in many many ways into the future.. imo.. ~ MM  ! 

Don961:  20-09-2020 08:21 PM

The government returns the budget law to the Ministry of Finance to reconsider and add new paragraphs

Baghdad / Al-Akhbariya:

A member of the Parliamentary Finance Committee, Ahmed Haji Rashid, revealed on Sunday that the government had returned the draft budget law for the year 2020 to the Ministry of Finance to reconsider some of the items.

Rashid said in a televised statement followed by Al-Akhbariya that "the Parliamentary Finance Committee was awaiting the arrival of the draft fiscal budget law for the year 2020 to the House of Representatives, explaining that the Council of Ministers returned the project to the Federal Ministry of Finance."
He added, "The reason for returning the project to the ministry, unannounced, is likely, that the return may come to install a set of appointments, and the issue of debt in the draft fiscal budget law for 2020."
link

MilitiaMan:  They returned the 2020 budget unannounced to the MOF to reconsider some of the items in it.. Like hey, could you drop one more zero? (kidding a bit) That would make all the debt go away even faster.. So just add another or the paragraph that represents the rate we await. lol ~ MM

KTFA Members "News and Veiws" Sunday 9-20-2020

KTFA:

Electricity announces the payment of salaries of contract holders and daily wages  LINK

MilitiaMan:  “Minister, which resulted in securing the salaries of the two tranches and transferring their allocations from the investment budget to the operational one. He disclosed that "their salaries will be paid for the month of March today, Sunday, provided that the rest of the months will be paid with retroactive effect after the budget is approved“

MilitiaMan:  The budget agreement appears to have a retroactive mechanism to pay salaries.  They also let it be known they can adjust monies from the investment side of a budget to the operational side. Take note this is not about the 2021 at all. March is in 2020 for a retroactivation to be applicable. This is slated for today.. Rate before budget, imo.. international continuity must mean that the two entities are in agreement at which they’ll be working and being paid. Imo ~ MM

Samson:  Parliamentary Finance reveals the share of the Kurdistan region in the 2020 budget

19:03 - 20/09/2020

The Parliamentary Finance Committee revealed, on Sunday, the size of the Kurdistan region’s share in the draft federal budget law for 2020.

Committee member Ahmed Hama said in a statement to / information /, that "the share of the Kurdistan region within the draft federal budget law for the year 2020 amounted to 12 trillion Iraqi dinars and 606 million dinars," noting that "the budget will be decided in the coming days."

He added that "the draft federal budget law for 2021 has not yet reached the House of Representatives, and the region’s share in it has not been definitively determined," noting that "the 2021 budget is still in the process of discussion and preparation within the Council of Ministers."

The Parliamentary Strategic Planning Committee indicated, last Sunday, that the draft federal budget law for 2021 will include new funding sections to get rid of the oil appropriation.   LINK

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DELTA:  NEW GOV START WORKING FIRST DAY......................

Samson:  The Central Bank adopts a paper to reform the banking sector

20th September, 2020

The Central Bank’s Media Office announced, on Sunday, that the bank’s board of general directors has adopted a paper to reform the banking sector

The office said in a statement that "Al-Eqtisad News" received a copy of it, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, chaired a meeting of the Bank's General Directors Council

The statement added, "The meeting discussed a number of issues, the most prominent of which was preparing a paper for reforming the banking sector, as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

LINK

Ross:  To my simple way of thinking this says immediate, do not wait to pass GO or New Year, for implementation of White Papers new IQD rates.  Praying I'm correct.

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Samson:  Banking sector reform

20th September, 2020

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif Al-Kitab, chaired a meeting of the General Directors Board of this bank on Saturday, September 19, 2020

The meeting discussed a number of issues, the most prominent of which was “preparing a paper for reforming the banking sector,” as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

 The Central Bank of Iraq

Media Office       Baghdad

September 20, 2020   LINK

Samson:  Due diligence procedures

20th September, 2020

The Central Bank of Iraq called on all licensed non-bank banks and financial institutions to take utmost care and caution on financial movements that take place through (bank accounts, electronic wallets, and electronic payment cards of all kinds) for social media celebrities, as well as developing scenarios to discover money laundering operations for these institutions.

 And in proportion to these cases, in coordination with the Office of Combating Money Laundering and Phobia Financing, if necessary

He also urged the Central Bank to take strict due diligence measures on the financial movements of the owners of electronic stores (owners of e-marketing sites and marketing through social media

The Central Bank of Iraq

Media Office       Baghdad

September 20, 2020 LINK

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Samson:  Al-Nasiri puts in front of the government a comprehensive economic reform paper in his new book "Our Economy and the Reform Movement"

20th September, 2020

A newly released book by Samir Al-Nasiri, the economic and banking advisor to the Association of Iraqi Private Banks, was recently released in Baghdad, tagged (Our Economy and the Reform Movement 2015-2020)

It is a book that discusses economic and banking reform for years after the economic and security shocks and the global oil price drop after mid-2014 and during the Coronavirus crisis, for which a special chapter is devoted

Once again, the economic and banking advisor, Samir Al-Nasiri, puts us in front of a new juice based on his experience, experience and relentless keeping up with the economic, financial and banking reality, in this book entitled (Our Economy and the Reform Movement 2015-2020)

The chapters of the book are characterized by the multiplicity of dimensions in which the author becomes jealous based on a holistic vision that aims to shape the economic reality on rules and constants that form the basis for the economic construction, and at the same time a starting point for amendment, correction and reform to remove obstacles and obstacles, and to draw consistent and integrated policies in order to achieve the desired goals

Whereas fiscal and monetary policy are two basic pillars of the economy, the author deals with the two sides within the framework of the symbiosis of roles and policies, as well as the mutual influences between the two policies, which requires permanent coordination between them

In keeping with the plans of the Central Bank and its strategy for the years (2016-2020), the author details the size of the initiatives and achievements made by the Central Bank of Iraq during the past years in achieving monetary and financial stability and in the institutional reconstruction of the bank to accommodate modern international developments, concepts and standards in all aspects of the bank

The book deals with what enhances the role of the banking sector in advancing growth and progress by expanding the circle of financial inclusion, applying institutional governance and benefiting from technological progress in developing electronic payment methods

The book that we have in our hands is a paper of ideas and visions, and it is a careful and careful reading of many phenomena and challenges, and provides solutions and treatments for them in a spirit of optimism, positivity, and a distinct patriotic feeling

It should be noted that the book includes four chapters and 88 topics, with a number of 340 pages, and two documentary attachments

The current book is the eighth of the author, and seven books have already been published, all of which discuss economic, financial and banking reform during the past six years, respectively

(Economic implications in the Arab movement countries and the Iraqi experience in monetary policy applications) and (Banking sector reform in Iraq challenges and strategy reforms (F) Reforming the banking sector, the first step for economic reforms in Iraq. (F) The methodology of economic and banking reform in Iraq. 

At the end of the tunnel - Economic and Banking Insights and Studies) and it was printed in two editions in Baghdad and Beirut by the Union of Arab Banks, and it is deposited and preserved in the House of Books and Documents in Baghdad    LINK

Samson:  Ambush in a restaurant in Baghdad .. Details of the arrest of four senior banking officials

20th September, 2020

On Sunday, high-ranking sources disclosed the details of the arrest of 4 agricultural bank managers in Iraq after they were dragged into an official meeting in the center of the capital, Baghdad.

Employees in the agricultural banking departments told Shafaq News, "The General Administration of the Agricultural Bank called for a general meeting of directors of agricultural bank branches throughout Iraq in the "Ayoun Baghdad" restaurant in the Karrada district in central Baghdad. More than 100 people attended the meeting, pointing out that "a civilian force The meeting raided and arrested the managers of the agricultural banks of the "Ramadi, Fallujah, Abu Ghraib and Salah al-Din branches".

The sources confirmed that "the motives of detention belonging to a demonstration organized by the agricultural branches of banks in early September this to protest the appointment of a new director of the General Administration for Agricultural Bank named Rashad Al - Dani behind the Acting Director of "Adel Attia".

And the sources added, "A force from the Prime Minister arrested on September 7 the director of the General Agricultural Bank, Adel Attia, along with his son and 10 other employees under the pretext of inquiring about the demonstration and what accompanied it." 

And was amazed at the sources "of the government announced the arrest of the Director of the Agricultural Bank and his son and 10 other officials on charges of corruption before the start of anti - corruption campaign with 11 days knowing that motivated arrests in response to the organization of the demonstration and unrelated corruption charges," according to the consensus of agricultural bank employees in Iraq".

On Saturday, an informed source said that four officials of the Agricultural Bank had been arrested on charges related to corruption cases. The source told Shafaq News Agency, that "the investigation committee in major corruption and exceptional crimes cases has arrested four managers in the Agricultural Bank after investigations with the bank's director, " adding that the detainees "are the managers of Ramadi, Fallujah, Abu Ghraib and Salah al-Din banks."

Federal Prime Minister Mustafa Al-Kazemi began a campaign of arrests of former and current state officials on charges related to financial and administrative corruption cases, after the supreme religious authority for Shiites in Iraq, Ayatollah Ali al-Sistani, called for "opening the large corruption files in the country to hold the corrupt accountable."   LINK

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Samson:  An Iraqi Politician: Al-Kazemi Is Determined To Fight Corruption And Recover The Stolen Billions

20th September, 2020 

Iraqi politician, Ghanem Al-Abed, affirmed that the main task that the Iraqi Prime Minister, Mustafa Al-Kazimi, is striving to achieve at present is to fight corruption, which has become rampant in all walks of life within the Iraqi state.

Al-Abed explained in a press statement that the Iraqi Prime Minister “Al-Kazemi” is keen on retrieving the billions that have been looted through various corruption channels. Commenting on what Al-Arabiya Net reported that Iraqi Prime Minister Mustafa Al-Kazemi is heading to issue other arrest decisions to kill demonstrators, the Iraqi politician stated that a few hours ago a decision was issued by Al-Kazemi to cancel the fake leave that one of the senior officers in the Iraqi army, Major General Jamil Al-Shammari, obtained from the Minister of Defense for the purpose of Treatment, for fear of escaping outside the country.

Al-Abed indicated that “Al-Shammari” is one of the officers accused of killing demonstrators in the recent demonstrations in Iraq, so the decision of the Iraqi Prime Minister to prevent him from traveling was to preserve the rights of the martyrs.

Sada al-Balad had obtained a copy of the periodic book issued by the Chief of Staff of the Iraqi Army regarding the approval of the Iraqi Minister of Defense to grant Lieutenant General Jamil Kamel Abdullah, attributed to the General Secretariat, a leave of 30 days for the purpose of treatment outside the country.  LINK

"Friday News" Posted by Samson 9-18-2020

KTFA:

Samson:  100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers

17th September, 2020

The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more and thus preserve the currency from collapsing.

In an interview with the "obelisk", Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people who They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.  LINK

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Samson:  Representative support for Al-Kazemi in fighting corruption

18th September, 2020

The Parliamentary Integrity Committee confirmed, today, Friday, its support for the steps taken by Prime Minister Mustafa Al-Kazemi in fighting corruption.

Member of the Committee, Representative Alia Nassif, said, "What Al-Kazemi is doing in fighting corruption is a step that must be supported by everyone, and everyone who says that he is against corruption must stand with this step," pointing out that "the movement against corruption and the corrupt must be supported, whether The Counter-Terrorism Service or the intelligence service was used."

Nassif explained that "corruption has become a situation in Iraqi society, and it threatens the security of the country, threatening the country's budget and the citizen's sustenance," noting that "major corruption operations have caused a great drain on Iraqi money, and therefore the procedures of the Prime Minister must be supported in the fight against the corrupt."   LINK

Samson:  Trump will be absent from the United Nations Assembly

09/18/2020 11:27:31

The White House chief of staff, Mark Meadows, told reporters that President Donald Trump will not personally attend the United Nations General Assembly meeting scheduled for next week, according to a joint media report.

The decision is a shift in Trump's position after he said last month that he intends to address the United Nations General Assembly in New York, although other world leaders preferred not to go to the meeting due to the Covid-19 epidemic.

Meadows confirmed to reporters who accompanied Trump on his way to Wisconsin to attend a campaign rally, that the president will not personally attend the 75th session of the General Assembly, which will be held mainly online due to the health crisis.

The main part of the General Assembly meeting continues this year, when world leaders take turns giving speeches, during the week from September 21 to the 29th of the month.

In remarks on Tuesday, the Secretary-General of the United Nations, António Guterres, stressed that this year's session will focus on the global response to the Covid-19 epidemic, in addition to "peace and security, disarmament, human rights, gender equality and sustainable development."   LINK

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Samson:  Proclamation on Constitution Day, Citizenship Day, And Constitution Week, 2020

17th September, 2020

In the summer of 1787, fifty-five delegates from throughout the fledgling United States gathered at the Pennsylvania State House in Philadelphia, intent on erecting a government that would stand the test of time and protect hard‑won freedoms secured during the Revolutionary War. 

Two hundred and thirty-three years later, the document they produced — our Constitution — remains the bedrock of our system of government, one rooted in equality under the law and an unyielding commitment to individual liberty.  On this day and during this week, we celebrate our great founding charter as an enduring beacon of freedom and strive toward active citizenship in service of its ideals.

With profound wisdom, the Framers of our Constitution divided political power among three separate and coequal branches, and further between the Federal and State governments, ensuring that a government of the people, by the people, and for the people would remain accountable to its citizens, from whom all legitimate political power is derived. 

Our Constitution outlines a government that encourages individuals to flourish while still empowering the state to perform necessary functions like protecting law and order and providing essential public goods.  This revolutionary concept has made and continues to make our Nation the most free and just society in the world.  Because its principles are timeless and rooted in truth, our Constitution has fostered freedom at home, as well as the liberation of countless oppressed peoples around the world.  In the more than 2 centuries since its ratification, it has served as an unparalleled engine for human progress.

A key feature of our Constitution is an independent Federal judiciary, which helps safeguard its structure and ensure individual rights.  In Federalist 78, Alexander Hamilton describes the proper role of the courts as keeping the legislature “within the limits assigned to their authority,” handing down decisions in accordance with the principle that “a constitution is, in fact, and must be regarded by the judges, as a fundamental law.”  In reverence of the wisdom of the Founders, I have made it a top priority to nominate to the Federal bench only those judges who have demonstrated a commitment to enforcing the Constitution as written.  To date, I have nominated and the Senate has confirmed more than 240 judges who will faithfully adhere to this foundational judicial principle, including two incredible Supreme Court Justices.

While freedom-loving Americans rightfully venerate and defend our Constitution, we must also remain cognizant that there are those in our society who wish to tear down our institutions and threaten our sacred constitutional freedoms. 

In recent months, statues of great American heroes like Abraham Lincoln, Ulysses S. Grant, and Theodore Roosevelt have been threatened, torn down, defaced, and destroyed.  In cities throughout our country, radical groups have attacked monuments honoring the unrivaled contributions our Founding Fathers made to human freedom. 

These groups and individuals are attempting to topple constitutional law and order — the very foundation of self-government — by attacking the Constitution and the integrity of our national heroes, falsely decrying our country and its institutions as evil and unjust.

As President, I will never allow such heinous attacks to go unpunished.  I will continue to honor the legacy of our history by protecting our freedoms and safeguarding our Constitution and the boundless opportunity it affords to the people of our great Nation. 

We should always celebrate the brave Americans who fought tyranny to secure the very liberty that these extremists take for granted.  To this end, in June of this year, I signed an Executive Order on Protecting American Monuments, Memorials, and Statues, and Combating Recent Criminal Violence, ensuring that anarchy and base criminal acts will no longer tarnish memorials built to honor the heroes who have served our country and defended our Constitution. 

On this Constitution and Citizenship Day, and during this Constitution Week, we recommit to upholding our constitutional system, to honoring its Framers and those who have sacrificed to defend it — who knew the true price of liberty — and to embracing the duty we as citizens have to preserve the society it has built.

The Congress, by joint resolution of February 29, 1952 (36 U.S.C. 106), designated September 17 as “Constitution Day and Citizenship Day,” and by joint resolution of August 2, 1956 (36 U.S.C. 108), requested that the President proclaim the week beginning September 17 and ending September 23 of each year as “Constitution Week.”

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim September 17, 2020, as Constitution Day and Citizenship Day, and September 17, 2020, through September 23, 2020, as Constitution Week. 

On this day and during this week, we celebrate the citizens and the Constitution that have made America the greatest Nation this world has ever known.  In doing so, we recommit ourselves to the enduring principles of the Constitution and thereby “secure the Blessings of Liberty to ourselves and our posterity.”

IN WITNESS WHEREOF, I have hereunto set my hand this seventeenth day of September, in the year of our Lord two thousand twenty, and of the Independence of the United States of America the two hundred and forty-fifth.

 DONALD J. TRUMP   LINK