MilitiaMan and KTFA Members "They Are Gearing To Show Their Hand!" 4-30-2021

KTFA:

Samson:   Officially ... Finance publishes instructions for implementing the 2021 budget

30th April, 2021

On Friday, the Ministry of Finance officially published instructions for implementing the 2021 budget.  
According to the ministry, the instructions for implementing the budget were officially published at the following link:  

To view, click here    

On Sunday, the Ministry of Finance called on all ministries' spending units to review them to receive instructions for implementing the budget / 2021.  

The ministry said in a statement that "People" received, a copy of it, (April 25, 2021), that "the instructions for implementing the Federal Budget Law for 2021, approved by the Presidency of the Republic, have been completed."    

She added, "Given the legislation and the publication of Law No. 23 of 2021, the federal state budget for the Republic of Iraq for the fiscal year 2021 in the official Iraqi newspaper, issue No. 4625 on April 12, 2021," calling for "all spending units of ministries, governorates, bodies and entities not associated with the Ministry of Attendance to the Ministry of Finance / The Budget Department, on Monday, 4/26/2021, for the purpose of receiving instructions for implementing the general budget for the fiscal year 2021 and instructions for implementing the planning budget for the public sector and self-financed bodies and companies.    

The Finance confirmed "the completion of the federal budget instructions for the year 2021 after a final audit by the Ministries of Finance and Planning," stressing that "appeals to the budget will not delay its implementation."   LINK

PompeyPete: FANTASTIC FIND THANK YOU SAMSON, YOU ARE BRILLIANT…. SO LETS BE CLEAR...TODAY A RAMADAN HOLY DAY THE BUDGET INSTRUCTIONS ARE PUBLISHED....WHAT IS NEEDED THEREFORE TO IMPLEMENT THESE INSTRUCTIONS? .....YES....THE CASH/MONEY.....WHAT ARE WE WANTING THEREFORE TO SEE

MilitiaMan:  Very good point PP. There are things that will need to be implemented in short order.

The MR process has not come this far to not see what we want.

For the Dinar and Dollar to be interconnected electronically this weekend per an article is a big deal, imo.

The USA has told the Iraq Trade Bank that we will support you during and after the process of electronic paring of the USD and IQD.

The USA did the same for the CBI, for supporting them along the way as well.

The country of  Iraq has Financial Inclusion (E-Gov, E-Commerce, E-Banking, E-Currency, salaries, payments, settlements, etc.) and that also goes for the region that represents the AMF. 

We know the Taxes, Fees, Customs, etc., are ready electronically now at the borders, too. They said that accomplishment was a first time ever!!..

JPM has gamed a deal with the UST to clear the USD electronically on the BUNA platform owned by the AMF.

That platform is an electronic clearing system. All these things took years to accomplish! It is quite clear they are gearing to show their hand..

I like it Big Time! Thank you PP, Samson and Don! This place rocks!! ~ MM

Monday Night KTFA CC With Frank26: "Leaks and Campaign" 4-26-2021

KTFA:

Monday night KTFA CC with Frank26 and Team

4-26-21 ....LEAKS & CAMPAIGN

This call is in Franks and Teams opinion

The Team is Walkingstick, Petra, Militiaman and Eddie in Iraq.

PLAYBACK IS:  605.313.5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=S6Vgvz4irfA

MilitiaMan Saturday PM "Digital Dinar and Dollar Going Live by May 1" 4-24-2021

KTFA:

MilitiaMan:  So, where are we in this investment? Today is Saturday the 24th of April 2021... of course you all know that..

But, with all we know and understand the exchange rate has not thus far gone the direction we have been hoping and praying for. Or has it?

Maybe we are all not looking at it in the same way. Hold that thought.

The powers that be have been working for years to get the country of Iraq to re construct and get back to a rightful place in her region and the world. We can see the progress on many fronts over the past 4-5 years now. But more recently we see a laundry list of crucial items (mechanisms) coming together to facilitate the birth of a new nation of Iraq.

One that is to have an advancement to their internal and external systems like no other possibly in history or at least our life times with or in respect to the “Iraq Marshal Plan”.

This new plan is going to be vastly different in nature from previous era Marshal Plans of the world. Why? The previous were industrial in nature primarily. This one will have and industrial nature of course, but with a new and improved digital component to it.. Much of what we are witnessing is from my perspective has two fronts.  Of which they both may be working against each other.

 Kadhimi on the one hand and the corrupt on the other.

The two opposing forces appear to have now come to a cross road. That road is transparency. The new system requires it. The digital world they’ll begin to live with looks to be with the USA help is to go live 05/01/2021 digitally for both Dinar and the Dollar.

To do that Interconnectivity is to be international.. Article 8 compliant. Cross border payments and settlements for trade require it.. imo

The plan has been all along to be geared for financial inclusion. Financial inclusion has many facets to it. They include E-Gov, E-Commerce, E-Borders, taxes, customs, fees and above all E-Money!! All digital!

Those opposing forces on one hand want it to happen like now the other wants nothing of the sort ever!! Who is going to win?

In my perspective the good will prevail.

The powers at be have been hard at this long enough to game the bad. We can see evidence of that by the lack of quorum lately.

Kahdimi has set the trap and has put the corrupt on notice.. Those with dirt on their hands will show under their finger nails. There is more than a hand full of folks in parliament that fit the glove. So, back to the hold that thought.

The exchange rate is changing in country as inflation is rearing her ugly head. The citizens are paying the price at the pump, stores etc.. That does a few things. One of which is to devalue the currency which creates pressure to change the exchange rate to one that supports the citizens not harm them.

They don’t know or just may not know that by devaluing for as long as they can creates pressure, creates more large notes to be absorbed off the streets and yet in a stealthy manner adds value for them once the exchange rate lacks the three zeros. 1450 is less valuable than 1480 once they drop the zeros..

So with having the E-Gov, E- Commerce, E-Borders and new E-Currency we should see an exchange rate change at or before the roll out of the digital playing field they suggest is to roll out May 01.

I am very optimistic that my view has legs to it!! Let’s see what the day brings us. imo

 MilitiaMan

KTFA Members "News and Views" Friday Afternoon 4-23-2021

KTFA:

Clare:  Rocket attack targeting an American base near Baghdad airport

Baghdad - Mawazine News 

On Friday, a security source said that a missile strike targeted the vicinity of Baghdad International Airport towards one of the American bases.

The source said that "three missiles fell near a US military base in the area surrounding Baghdad International Airport."

Ended 29 / A 87     LINK

Don961:  The launch of the first “digital economy” service a few days later in Iraq: The fate of the fines will be guaranteed .. What does it mean to pay money over the phone?

2021-04-23  Yes Iraq: Baghdad

 An American report sheds light on an economic and digital transformation that will be achieved in Iraq in a few days, represented by the launch of one of the famous Iraqi banks for a digital application for financial services, while the transition to the digital economy will be an opportunity to legalize or eliminate financial corruption, and bypass the weakness of the banking infrastructure.
The Iraqi economy is preparing to achieve a technological leap that could allow it to overcome the structural problems and corruption gaps that suffocate the private sector, as the Iraqi Trade Bank will launch on the first of next May its application for financial services via mobile phone.

While this step may be considered simple, paying money via mobile phone has helped many countries in the world to bypass weak physical banking infrastructure, dry up common corruption systems and encourage innovation, according to Dr. Bilal Wahab, a researcher at The Washington Institute, and Michael Rubin, resident researcher at The Washington Institute. American Enterprise Institute in the analysis published by the American National Interest magazine.

Wahab and Robin say that corruption has been an obstacle to the Iraqi economy for many years, and Transparency International places Iraq among the most corrupt countries in the world, with a slight improvement compared to the level of corruption 10 years ago.

They added that one of the most prominent common denominators between the components of the Iraqi political spectrum is the willingness of politicians to exploit their positions to enrich themselves and their families or for the benefit of their companies, while noting that in the first years after 2003 the Iraqi government used to pay salaries to employees in cash, which opens the door to the inclusion of fake names in Payroll, and it allows presidents to deduct funds for themselves from the salaries of their subordinates, and to counter these practices the government sought to move to a system of paying wages through bank accounts, and this matter has become mandatory for workers in the prime minister and the presidency, but it is still optional for workers in Parliament.

But depositing salaries in bank accounts is not enough for the simple reason that Iraqis do not trust banks, and the use of banking services in Iraq is still low. Until 2017, the percentage of Iraqis who own bank accounts was about 20% of the total Iraqis, and now despite the presence of about seventy banks operating In Iraq, only three major banks, namely Al-Rafidain, Al-Rasheed and the Iraqi Trade Bank, account for about 85% of the total assets of the banking sector.

There is only one large international bank operating in Iraq now, which is Standard Chartered, and it owns a few branches and focuses on major government projects. The Iraqi International Smart Card won a contract to electronically pay government workers' wages through cards insured with biological agents "Qi Card". In 2019, the company said it had about 7 million people carrying its cards.

 The researchers say that the weakness of the banking system in Iraq is a major reason behind the World Bank placing Iraq in the 186th place out of 190 on the ease of obtaining loans index in the World Bank's report on doing business for the year 2020. This led to a large exit of capital from Iraq.

 Ali Allawi, the Iraqi Finance Minister, for example, says that about 250 billion dollars have gone out of Iraq since 2003, which is three times the annual budget of Iraq. At the same time, the weakness of the banking system has pushed Iraqi citizens to rely more on informal financial transfers, which negatively affects the government's ability to follow the movement of funds and collect taxes and fees. For example, the public treasury loses about 90% of the potential revenues of customs, estimated at 7 billion dollars annually, due to corruption of officials and armed militias.

At the same time, the central government in Baghdad and the Kurdistan Regional Government are not making sufficient efforts to enhance citizens' confidence in the banking system. There is a bill in the Iraqi parliament to insure deposits that no one cares about.

In 2014, when the Kurdistan Regional Government faced a liquidity crisis, it seized money from bank deposits, denting citizens' confidence in the banking sector as a whole.

But the new Corona virus pandemic has prompted large numbers of Iraqis to accept the idea of ​​a digital economy. In Erbil and Baghdad, food delivery applications via smart devices such as Tiptop and Express have increased in popularity. And in the city of Sulaymaniyah in the Kurdistan region, residents have increased their interest in using the website “PayBook.com” to buy their needs instead of going to stores.

As Iraqis prepare for the digital economy era, as more than 40% of Iraqis were born after the 2003 invasion, the move to enter the Iraqi Trade Bank into the world of mobile banking will reverberate in broader areas of public confidence. 

For example, when a car passenger in Iraq is fined 50,000 dinars ($ 34) for not wearing a protective mask against the emerging corona virus, he does not know if the money he will pay reaches the public treasury or goes to the police's pocket. Whereas, when paying the fine via mobile applications, he will make sure that it reaches the public treasury. The same applies to various forms of fines and fees that Iraqi citizens pay.

At the same time, the Iraqi Trade Bank’s provision of electronic banking services could allow Iraq to overcome the increasing obstacles to traditional banking infrastructure and corruption caused by overlapping interests.

While most regions of Iraq, such as Karbala, Anbar and Baghdad, have the ability to attract investors and provide them with the opportunity to achieve large profits, financial services via mobile phone will facilitate the practice of commercial activities, help avoid large bank fees and support greater transparency.

Therefore, researchers Bilal Wahhab and Michael Rubin call on the US administration to provide all means of support to the Iraqi government in order to develop the Iraqi banking system and push it towards the transition to a digital economy while ensuring its information security. 

At the same time, it is in the interest of the United States to coordinate and cooperate with Iraq to ensure that mobile financial transactions applications that allow currency exchange between dinars and dollars do not turn into a back channel for Iran to circumvent US sanctions.   LINK

ATPInfinity:  "The Iraqi economy is preparing to achieve a technological leap...the Iraqi Trade Bank will launch on the first of next May its application for financial services 

(1 week from today) Rate?

"that allow currency exchange between dinars and dollars"
IMO: "An American report sheds light..."

THIS IS WHAT FRANK calls ...leaks of currency exchange

"digital transformation that will be achieved in Iraq in a few days." (smile)

Samson:  The government calls on Huawei to contribute to the digital transformation in Iraq

22nd April,  2021

The Secretary-General of the Council of Ministers, Naim Hamid Al-Ghazi, on Thursday called on Huawei to contribute to the process of digital transformation and the establishment of smart cities in Iraq.

"The Secretary General of the Council of Ministers, Hamid Naeem Al-Ghazi, called on the Chinese company Huawei, to actively contribute to the process of digital transformation and the development of the e-governance program and the establishment of smart cities in Iraq," said a statement of the General Secretariat received by the information.

He added, during his meeting with the president of the company in the Middle East, Charles Yang, that the General Secretariat of the Council of Ministers has reached advanced stages in the e-governance program, and it needs a real partnership with a sober company, such as Huawei, the leading company in the fields of technology and communications, in order to provide advice, visions and plans to ensure Of developing the program.

He pointed out the need to expedite sending experts and specialists to Iraq to start bilateral meetings in the presence of members of the Supreme Committee for e-Governance, as well as Iraq's desire to open a special academy to train and develop the skills of Iraqi employees working on the program.

Yang expressed the company's happiness in opening horizons for cooperation with Iraq in the digital field, that there is a real desire to work in Iraq to develop electronic programs and develop skills, and that the police possess all capabilities to provide the required consultations, praising the experiences and competencies of Iraqi youth in the digital field, by obtaining centers It is ahead of the Middle East and the world in the competitions and courses organized by the company during the past years.

The company presented a presentation of the projects and programs it implemented in many countries of the world, which contributed to the development of the digital field in all government sectors. LINK

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Don961:  Global oil prices rise as demand picks up and the closure eases

2021-04-23 Yes Iraq: Baghdad

 Oil prices rose on Friday, supported by hopes of a recovery in demand with the recovery of economic growth and the decline in the closure.

Brent crude futures rose 42 cents, or 0.6 percent, to $ 65.82 a barrel, after rising eight cents on Thursday.

West Texas Intermediate (WTI) crude futures jumped 51 cents, or 0.8%, to $ 61.94 a barrel, after also rising 8 percent on Thursday.

“Oil prices rebounded for the second day in a row, as US jobless claims data, which came lower than expected, boosted expectations for energy demand in North America,” said Margaret Young, a strategist at DailyFX in Singapore.

"The recent macro data from the United States and China were encouraging, reflecting a strong economic recovery from the two largest economies in the world, while OPEC + is expected to keep current production plans unchanged at next week's meeting, which helps stabilize oil prices." LINK

KTFA Members "News and Views" Wednesday Afternoon 4-21-2021

KTFA: 

Clare:  ARTICLE FOUND BY SAMSON...WELL DONE!

FRANK26:  FAMILY THIS IS THE START OF WHAT I TOLD YOU ON MONDAY & TUESDAY'S CONFERENCE CALLS.....   "LEAKS".............FRANK26

Samson:  State of law: $ 208 million sold today by the Central Bank and information confirming the rise in the price of the dollar soon

19:08 - 21/04/2021    Information / Special ...

Representative of the State of Law coalition, Kata Al-Rikabi, confirmed, on Wednesday, that the Central Bank sold more than $ 208 million in today's currency auction, the same levels that it was selling before the decision to raise the dollar exchange rate.

Al-Rikabi said in a statement to / the information / that “the government is boasting about reducing the sale of the dollar’s ​​currency, and today $ 208 million has been sold,” indicating that “the dollar exchange rate will rise in the coming days as a result of selling the currency and increasing prices at the present time.”

Al-Rikabi said, "The State of Law coalition rejects the budget and they withdrew from voting on it because it does not meet the aspiration of the poor citizen."   LINK

*Samson:  Al-Kazemi: We are working to launch a comprehensive investment campaign in Iraq

21st April, 2021

Today, Wednesday, Prime Minister Mustafa Al-Kazemi affirmed that there will be work to launch a comprehensive investment campaign with the participation of Iraqi and foreign investors, while calling for coordination between the National Investment Commission and the ministries to accelerate the completion of investment projects.

Al-Kazemi said during his visit to the National Investment Authority, according to a statement from his office received by Al-Sumaria News, "The Investment Authority has a major role in the process of rebuilding the country, and therefore it must be corrected and corrected from previous mistakes, as there is a defect in the country's infrastructure and wrong establishment and this mess must work to be completed according to sustainable plans and strategies."

He pointed out that "a large number of projects have been transferred to investment during the past years, but most of them are either lagging illusory projects," noting that "thousands of dunams have been acquired for several years without any progress or progress in the projects."

He stressed the need for "coordination between the commission and other ministries concerned with investment to expedite the completion of investment projects," noting that "the National Investment Commission and the authorities in the governorates are required to take the necessary measures immediately to cancel project licenses that recorded a percentage (0 to 35%) and the time period has expired." Available for project implementation." He called on the commission "to take similar measures for projects with very low completion rates for the period of time, and the state's rights must be fulfilled and its losses from the owners of these projects must be fully compensated." 

Al-Kazemi continued, saying, "We are working very hard to launch a comprehensive investment campaign in which Iraqi and foreign investors participate. Iraq is a great country and has great talents, and we must work hard to take advantage of them and encourage investors to work on strategic projects in the country," noting that "investment provides a better life for Iraqis." And it reduces the pressure on the government in the field of recruitment, as it will provide many opportunities for the unemployed."

He stressed that "bureaucratic procedures and corruption are among the reasons that impede investment and we are working hard to address them, and just as we started a campaign against corruption, a major investment campaign must be launched," warning at the same time against "leniency with the corrupt or offenders or what harms the national interest of the country."

He pointed out that "the decisions that I made today regarding the delayed and unfinished projects and the withdrawal of licenses will be attacked by the corrupt, but we are continuing with them and it is part of our reform project."  LIN

Clare:   THIS IS A HUGE ARTICLE - KAZEMI  IS ACTUALLY MAKING AN ANNOUNCMENT... 

"there will be work to launch a comprehensive investment campaign with the participation of Iraqi and foreign investors," 

THIS MUST HAVE THE NEW RATE! imo

WHO TOLD US ON MONDAY CC & LAST NIGHT, ABOUT THE EDUCATIONAL CAMPAIGN COMING TO THE CITIZENS????

THE CBI/GOI ARE NOW GOING TO PUT ADVERTISEMENTS EVERYWHERE....TV COMMERCIALS..BILLBOARDS..NEWSPAPERS.. REGARDING THE NEW CURRENCY THEY'RE ABOUT TO PUT OUT AND THAT THERE WILL BE A NEW EXCHANGE RATE FOR THIS CURRENCY...FRANK26

WS GAVE US THAT INFORMATION YEARS AGO!  BECAUSE HE KNEW IT WOULD BE SO AT THE END...AND WE ARE SURELY AT THE END NOW. IMO IT IS OBVIOUS!

 SPOT ON AGAIN WALKINGSTICK & FRANK!!

THANK YOU SAMSON & DON- YOU ARE REALLY APPRECIATED BY ALL OF US!

Don961:  Iraq .. launching an electronic portal to receive investment requests

Head of the Iraqi National Investment Commission, Suha Dawood Najjar

 April 21, 2021 03:20 PM

Mubasher: The President of the Iraqi National Investment Commission, Suha Dawoud Najjar, announced the launch of an online portal to receive investment applications through the commission’s official website, starting today, Wednesday, April 21, 2021.

Najjar said, in a statement issued by the National Investment Commission, that the portal grants investors a number of privileges after creating their own accounts. It includes the ability to submit and disclose all the required documents electronically and follow the status of the requests to see if they have been approved, rejected, or are still under study, in addition to adding the information authorized by the concerned investment entity.

Najjar emphasized that this approach came within the framework of the commission’s serious endeavor to reduce the red tape and bureaucratic procedures that often accompany the application process, and to reduce the possibility of the investor being exposed to any form of deliberate delay or extortion in a way that contributes to creating an attractive investment environment.   link

4Cash:  Wowser Don961!!! Great article wanting countries to use their portal for investment projects in Iraq. This is telling something that isn't a secret anymore IMO!!!

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Samson:  Karbala .. Overthrowing employees who withdrew sums of money from citizens' accounts and another fraudulent seizure

21st April, 2021

The investigation department of the authority announced, on Wednesday, that it was able to control and save two cases of fraud in the First Real Estate Registration Directorate in Karbala Governorate and the Postal Department.

The department explained in a statement received by Shafaq News, that “the work team of the commission’s investigation office in Karbala governorate moved to the First Real Estate Registration Directorate and managed to arrest one of the directorate’s employees for tampering with the records, filing, bonds and pavement space belonging to the Karbala municipality’s directorate, and by adding spaces belonging to the municipality And registering it in the name of the owner of one of the real estate.

She added that "the original sale transaction and two pictures of the property registration form (23 and 25) registered in the name of the owner of the property whose estimated value reaches (1,245,000,000) billion dinars."

In a second operation, the team was able to “seize two employees in the post office and provide the governorate, for withdrawing sums of money from citizens’ accounts through manipulation and forgery, taking advantage of the citizens’ failure to review their accounts and sign instead of them, and the process resulted in seizing the original receipts for withdrawing the amounts.”

The department clarified that “arrest reports were organized in the two operations that were carried out according to two judicial warrants, and they were presented with the defendants to the judge of the Karbala Investigation Court, which is specialized in cases of integrity, who decided to arrest them in accordance with the provisions of Articles (289 and 315) of the Penal Code.  LINK

KTFA CC with Frank26 "I Don't Care About the Rate Inside Iraq" 4-19-2021

KTFA:

Monday Night KTFA CC with Frank26 and Team

4-19-21 .......I DON’T CARE ABOUT THE RATE INSIDE OF IRAQ

This video is in Franks and teams opinion

Franks Team is Walkingstick, Petra, Militiaman and Eddie.

PLAYBACK IS:   605.313.5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=ucAgbd8Tk-Y

KTFA Members "News and Views" Monday Afternoon 4-19-2021

KTFA:

Samson:  Legal expert: Iraq’s exit from the lists of high-risk countries is a big victory

04/19/2021 09:14:35

 The legal expert, Tariq Harb, said today, Monday, that Iraq's exit from the lists of high-risk countries is a "major political and economic victory" for the government and the Central Bank.

 Harb said in a statement that Al-Furat News received a copy of, that "many years have passed on the name of Iraq in the lists of high-risk countries, with the consequences of this staircase of great political and economic implications, perhaps the first and most important of which is the impact on investment and the reluctance of non-Iraqi companies to work. In Iraq, the political and social implications."

He added, "The Al-Kazemi government and the Central Bank of Iraq have made great efforts, especially in the field of their cooperation, by taking the necessary measures regarding money laundering and terrorist financing.  For a while, Al-Waqi’a Iraq has barely been issued and is devoid of publishing international procedures and decisions, especially those issued by the Special Committee. And associated with the UN Security Council in relation to combating money laundering and terrorist financing and other measures related to seizing the money of those accused of money laundering and terrorist financing, even if they are not Iraqis."

He continued, "Also, a higher committee was established in the Central Bank with the mission of combating money laundering and terrorist financing, and these and other measures such as activating the Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015, so Resolution 392 of 2021 was issued including raising the name of Iraq from among the countries with high risks," The government thus deserved and the Central Bank deserved praise and praise for their efforts in removing Iraq from the lists of high-risk countries."

It is noteworthy that the Central Bank of Iraq announced, yesterday, Sunday, the lifting of the name of Iraq from the British classification of high risk countries.   LINK

ATPinfinity:  THIS IS 24 HOURS AGO NEWS "Central Bank of Iraq announced, yesterday, Sunday,"

"major political and economic victory" for the government and the Central Bank.

"...great political and economic implications, perhaps the first and most important of which is the impact on investment..."

SIGNALLING: OK TO TRADE....SEEMS LIKE A DOOR HAS BEEN OPENED HERE!    OR AN OBSTACLE REMOVED THAT WAS HUGE.  (REQUIREMENT BEFORE OPENING 2021 BUDGET?)

Iobey777:  YES!!! a IMO, also, this is HUGE NEWS for Iraq and for us to be able to exchange!!!  I can hear the FIREWORKS going off now!!!!

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Samson:  The opening of the headquarters of the Iraqi company to guarantee deposits

04/19/2021 12:56:35

The governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, inaugurated, on Monday, the headquarters of the new Iraqi company to guarantee deposits.

"The company will contribute to restoring confidence in the private banks operating in Iraq," the governor said in a statement that Al Furat News received, stressing that "the Central Bank will pay attention to this company as it is one of the pillars of the banking business."

He explained that "the public and private banking sector actively participated in establishing this company to become one of the leading institutions in the banking business and supporting it."

It is noteworthy that "the Iraqi Deposit Insurance Corporation provides a cover to guarantee public deposits with Iraqi banks licensed by the Central Bank of Iraq inside Iraq, especially small depositors."

LINK

Iobey777:  IMO... this is another BIG article!!

Samson:  Advisor Al-Kazemi .. Floating the currency leads to the collapse of the market and warned against its implementation

19th April, 2021

The Prime Minister’s Adviser for Financial and Economic Affairs, Muhammad Mazhar Saleh, confirmed today, Monday, that it is not permissible to float the currency in Iraq, indicating that this leads to the collapse of the market.

Saleh said that "it is not permissible to float the currency in Iraq because the market will collapse in this case," indicating that "the entry and exit of hard currency does not enter the market, which is only an outlet for it, but rather the government is the one that brings this hard currency."

Saleh added, "If the government withdraws its hand, the supply will stop and the demand increases, and therefore the market will collapse." He pointed out that “the problem in Iraq is that the market is asking and that the state is offering, and in the event that the Central Bank does not sell the dollar, it means that all the supply has stopped and there is no other offer. Because demand will be more than supply." He stressed that "the state is the bidder in Iraq, and therefore if the state tends to float, this means that there is no supply and thus prices collapse."

Floating currency is completely liberalizing the exchange rate, so the government or the central bank does not interfere in determining it directly, but rather it is secreted automatically in the currency market through the supply and demand mechanism that allows setting the national currency exchange rate against foreign currencies.

It is noteworthy that some officials talk from time to time on the need to float and liberalize the currency to preserve the hard currency reserves at the Central Bank.     LINK

ATPinfinity:  THIS IS THE Old System...old advice..selling the dollar will be obsolete when: DINAR IS INTERNATIONAL..  FLOATING THEN IS NOT CONTRARY!

Floating currency is completely liberalizing the exchange rate, so the government or the central bank does not interfere in determining it directly, but rather it is secreted automatically in the currency market through the supply and demand mechanism that allows setting the national currency exchange rate against foreign currencies.

Clare:  FRANK & WS TOLD US...... IT WON'T FLOAT INTERNALLY.... ONLY EXTERNALLY! imo

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Samson:  Integrity: 58 arrest warrants were issued against a minister, two deputies, and special ranks

19th April 2021

The Federal Integrity Commission announced, on Monday, the entirety of the arrest and recruitment warrants issued against officials during the month of March, indicating that they came against the background of cases and files that it investigated and referred to the judiciary.

In a statement received by Mawazine News / a copy of it, the Investigation Department revealed that “(58) arrest warrants and summoning orders were issued against officials during last March,” noting that “(8) arrest warrants were issued, and (50) summon orders were issued for the period of (1-31/3/2021).

The department explained, "These orders included two members of Parliament (current and former), a former minister, and a former undersecretary." She added that "the arrest and recruitment orders included a current and a former governor, as well as (25) general directors, including current and former and two qaimaqaman," pointing out that "22 members of the provincial councils included in these orders."

And she continued, “(14) those against whom these orders were issued are sureties, at a time when (7) others (fugitives) were registered, one was released during the investigation phase, and one was referred to court, and another person against whom a summoning order was issued by the pardon decision was included."

Last February, the commission announced the details of its annual report for the year 2020, indicating that it included the issuance of (82) recruitment and arrest warrants against ministers and their rank, while the number of arrest and recruitment orders issued against public directors and special ranks was (624) orders.   LINK

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Samson:  Iraq .. anxious after the anti-corruption hand was released to topple big heads

19th April, 2021

Observers believe that the Prime Minister, Mustafa Al-Kazemi, launched the anti-corruption need to overthrow large heads, after the Anti-Corruption Committee arrested, the day before yesterday, the leader of the Al-Hall Party, Jamal Karbouli.

Al-Arabiya quoted, according to unnamed sources, that "the committee headed by Lieutenant General Ahmed Abu Ragheef obtained a judicial decision to lift the immunity of four parliamentarians, in addition to issuing another list to prevent the travel of a large number of political figures who are suspected of corruption." Karbouli, who was already arrested, has always been suspicious of and repeatedly accused of corruption by political parties, but despite this, Asharq Al-Awsat sources say, "Many Iraqi parties tried to mediate with him, including those who were considered his opponents."

This new path that the committee pursued in the arrest of senior officials confused the entire Iraqi political scene, especially since the arrest operation was intended to reflect the government's seriousness in implementing its promises of reform, as the security forces surrounded al-Karbouli's house and then arrested him despite the contacts and mediation of Iraqi politicians and leaders.

The corruption that Iraq witnessed is very large, and the money that was wasted ranges between three hundred and four hundred billion dollars, meaning that a large number of Iraqi politicians have already been involved in corruption deals.

Now this committee formed by Prime Minister Mustafa Al-Kazemi, headed by Lieutenant General Abu Ragheef, has apparently begun its work. According to the sources, the matter began at Karbouli and will not end with it.

There are lists that will see the light within days, as "Asharq Al-Awsat" revealed the existence of two lists approved by the judiciary, one of which includes the names of four deputies in order to arrest them and the second includes the names of officials who will be banned from traveling.

According to Al-Sharq al-Awsat and according to the circulating figures, the total income of the Iraqi state’s treasury after 2003 and to this day is about one and a half trillion dollars of which the equivalent of 70 percent has been spent on operating costs and salaries, while 300 to 400 billion dollars are promised by virtue of the money that was wasted due to corruption. 

 According to the latest reports issued by the Iraqi Ministry of Planning, the poverty rate in Iraq has increased significantly in recent times. The percentage, according to the ministry's report, ranges from 25 to 27 percent.  LINK

KTFA Members "News and Views" Sunday PM 4-18-2021

KTFA:

Samson:  The 2021 budget comes into effect, and this is its final text

04/18/2021 11:30:00

 The official Al-Waqa’a newspaper published the text of the fiscal budget law for 2021, to officially enter into force.

The newspaper published the final version of the budget law.

It is noteworthy that Prime Minister Mustafa Al-Kazemi announced the government's intention to challenge some of the budget's paragraphs for amendments to be made by Parliament.

To view the budget law ... click here    LINK

ATPInfinity:  HOW ABOUT "IMPLEMENTATION CELEBRATION",

"ON YOUR MARK...",THE BUDGET PUBLISHED IS LIKE A LOADED STARTER PISTOL FOR A RACE....The Ministry of Finance / CBI..finger on the TRIGGER......"GET SET.....G........"

Just where we wanted to be FOR DECADES ! IMO

Popeye7:  The boom heard around the financial world... 

Osmosis:  Rate will be 1450.........IMO, then drop the zeros ($1.45)

Jerry1971:  THE BUDGET TO BE PUBLISHED IN THEIR NEW NEWS PAPER SHORTLY EVEN IF THEY OPEN THE BUDGET WITH THE SAME PROGRAM RATE OF 1460 ….IT SHOULD AND WOULD CHANGE AFTER OPENING TO THE NEW RATE AS PER THEIR UNDERSTANDING AND COMMITMENT WITH IMF…. REALLY GOOD TIMES AHEAD IN DINARLAND .    IMO.   

GodLover:  IMO   They would not open the budget & disburse funds at a PR,(program rate)   only to change it. A new rate would NEED to happen prior to budget opening. 

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Don961:  The budget officially enters into force ... but: no less than 10 articles are still "pending" and will not be implemented until the "answer" arrives.

2021-04-18  Yes Iraq: Baghdad

 The 2021 budget entered into force today, Sunday, "officially" after it was published in the Al-Waqi’a newspaper, amid anticipation for many articles that may reach 10 articles whose fate will be suspended until the Federal Court decides on them.

Today, Sunday, the official Al-Waqi’a newspaper published the fiscal budget law for 2021, and by publishing the law in the official newspaper, the fiscal budget law is considered effective and the law will come into effect from today.

However, some articles will await their fate after the Federal Court decides them, against the background of several appeals filed by parliamentary blocs and others that may have been submitted by the government.

A member of the Finance Committee, Abdul Hadi Al-Saadawi, said in a press statement a few days ago, that "the federal budget comes into effect after its publication in the Iraqi newspaper Al-Waqi’a and the issuance of final instructions on it." It was appealed to the Federal Court, which is supposed not to enter into force until a decision is reached by the Federal Court. ”

And he indicated that "a parliamentary bloc has challenged five articles in the 2021 budget, including the exchange rate, Article 11, guarantees and sovereign loans, and whose contracts have been canceled in the security ministries and the popular crowd," noting that "there is another article that will be challenged related to the tribal separation."

He continued, "This article was attached to the tables and not in the budget texts, and everyone knows that the tables are very important, and this paragraph did not appear even to the members of the Finance Committee." Destroyed by ISIS ”.

Government appeals

The matter did not depend on the aforementioned appeals submitted by a parliamentary bloc. Rather, Prime Minister Mustafa Al-Kazemi had announced his government's intention to submit new appeals against articles in the budget.

And Al-Kazemi said in a speech he gave during his meeting with tribal sheikhs and notables in Al-Muthanna governorate, that "we will file an appeal with some paragraphs of the budget with the Federal Court, because there are paragraphs that will affect the electricity sector, the health sector, etc." To solve it. ”   LINK

Iobey777:  Interesting... it went into FORCE today....that’s a step forward! IMO 

Don961:   Top 12 Most Expensive World Currencies - 2021 Edition

March 24, 2021

 Ever thought about what is the highest currency in the world today? Most likely, you’re thinking now about British Pound, US Dollar, or Euro… Well, guess again. There are at least a few currencies with a higher value than these three.

We’ve put together a list of the top 12 world’s highest-valued currencies in 2021 compared to the US Dollar and Euro. You’ll be surprised to learn that being the most widely traded, USD is not even in the middle of the list, but almost at the end of it.

And if you want to see the flip side, compare this list to the top 10 of the weakest world currencies to see the significant differences.

Highest Currency Ranking

So, which country has the highest currency value? Let’s start with a quick recap of the most valuable currencies rating to get the entire picture:

Currency Currency сode USD conversion rate EUR conversion rate

1 Kuwaiti Dinar KWD 3.31 USD 2.77 EUR

2 Bahraini Dinar BHD 2.66 USD 2.23 EUR

3 Omani Rial OMR 2.60 USD 2.18 EUR

4 Jordanian Dinar JOD 1.41 USD 1.18 EUR

5 British Pound Sterling GBP 1.38 USD 1.16 EUR

6 Cayman Islands Dollar KYD 1.22 USD 1.02 EUR

7 European Euro EUR 1.19 USD 1 EUR

8 Swiss Franc CHF 1.08 USD 0.91 EUR

9 US Dollar USD 1 USD 0.84 EUR

10 Canadian Dollar CAD 0.80 USD 0.67 EUR

11 Australian Dollar AUD 0.77 USD 0.65 EUR

12 Singapore Dollar SGD 0.74 USD 0.62 EUR

And now, we'll get a closer look at each currency and find out what makes them so highly valued.

 #1 – Kuwaiti Dinar ($3.31)

Currency code – KWD

Kuwaiti Dinar rates:
1 KWD = 3.31 USD (Kuwaiti Dinar to US Dollar)
1 KWD = 2.77 EUR (Kuwaiti Dinar to Euro)

Today, Kuwaiti Dinar is the highest-valued currency in the world, estimating at $3.31 per Dinar. Such a high value is explained by Kuwait's stable economy and significant oil exports into the global market, producing almost 95% of the country's revenue.

According to the estimates, about 9% of the global oil reserves are located on its territory. Petroleum production here is the easiest and, therefore, the cheapest among other countries.

Besides, Kuwait is a tax-free country with a very low unemployment rate.

All of this makes it rank 8th in the list of countries with the highest GDP per capita.

Kuwaiti Dinar was first introduced in 1961 after the country gained its independence from the United Kingdom and was initially equivalent to one Pound Sterling.

Since 2003 the currency was pegged to the US Dollar, but in 2007 the government decided to peg the Kuwaiti Dinar to the weighted currency basket.

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LINKLINK

MilitiaMan and KTFA Members "One Decimal Place" 4-17-2021

KTFA:

Samson:  Dr. Saleh on the rise in the dollar exchange: sacrificing a side of the central bank’s reserves would allow price stability and ensure the stability of the standard of living

14th April, 2021

The economic expert and financial advisor to the Prime Minister, Dr. Mazhar Saleh, said about the possibility of a rise in the dollar exchange rate against the dinar that the rise in prices at a rate of 4.5% affects the consumer's livelihood, but it is not dangerous, considering that the fear is from the accumulation of inflationary expectations from the side of the forces generating inflationary expectations, namely the exchange rate speculators.

In an interview with the obelisk, Saleh considered that it is natural that imported goods and services have increased by reducing the exchange rate of the Iraqi dinar, as the decrease reached about 23% ؜, but there are services and local goods (including government) such as fuel, electricity, and others, which remained constant in price.

The economic consultant, known for his accurate readings, continued that the lease contracts remained stable, making the annual inflation rate measured last month moderate compared to the low exchange rate, as the consumer price index in Iraq recorded an annual increase of 4.5% after it remained throughout the three years. The past is stable and with small annual rises between 1% ؜ and sometimes less, and I call it zero inflation.

The Deputy Governor of the Central Bank of Iraq, Ihsan Shamran Al-Yasiri, said, Tuesday, April 13, 2021, that the World Bank had proposed to Iraq to amend the exchange rate of the dollar to 160 thousand dinars per 100 dollars, as it is the real price.

Dr. Salih added: The price increase at a rate of 4.5% ؜ affects the consumer's livelihood, but it is not dangerous, but the fear of the accumulation of inflationary expectations on the part of the forces that generate inflationary expectations, which are the speculators at the exchange rate, which makes monetary policy obliged to meet the super-demand for foreign currency from The window of the central bank or auction and maintaining a fixed exchange rate of 1450 dinars / dollar.

He continued: Defending stability on this price is through the policy of continuous intervention and sacrifice of a side of the central bank’s foreign currency reserves to ensure that inflation remains within the goal of the one-decimal place in order to achieve stability and stability in the standard of living.

And Saleh considered that this is consistent with the monetary policy objectives in achieving stability in the general level of prices and preserving the purchasing power of the monetary income, which is denominated in the Iraqi dinar.

The Deputy Governor of the Central Bank of Iraq had said that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs, levies and financing part of the financial savings achieved for the benefit of the vulnerable classes."

In the context of urgent solutions, the ration card items must be improved to reduce the damage caused by adjusting the exchange rate, according to economic experts.  LINK

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MilitiaMan:  They have the tools they need and the expertise to keep inflation low whether it be at 1450 or 1.45 imo... Through continuous interventions into the currency market they can achieve stability in the currency and the citizens standards of living.

They have tools that are consistent with monetary policy objectives achieve stability in general pricing of goods and while preserving the purchasing power of monetary income denominated in dinars. They rely on the income from other sources outside of oil, through taxes, customs, levies, etc.. 

In my view, an objective of the Central Bank is to bring stability and security, and with it will come purchasing power. Keeping inflation low while at a program rate is proof they can also defend the new exchange rate at a much higher level, as the project to delete the zeros off the exchange rate brings the Dinar to 1.45, imo. One Decimal place.

That reality is what imo is what we expect within and form the Central Bank of Iraq.

Not necessarily outside the country, that will bring an international calculation for it, imo.. 

They have not activated the 2021 Budget yet. Why? The CBI will need to have the rate sorted prior to printing the budget to go into the Gazette.

 It looks like that the rate of 1460 at present has not changed, therefore, we can deduce that the project to delete the three zeros is on track and they tell us so.

They talk about another week from 04/14/2021 is needed to avoid budget problems. 1460 is inflationary and had pressures on the citizens. PM Kahdimi was out talking to the poor. He told them he is working for them. 1460 exchange rate is not working for them, nor is taxing them at 1460.

So, with that said and back too, they can not activate the 2021 budget until it is published. They'll need the final rate to be in the budget to print it. imo It is that simple. They told us they need an additional week. That is not long from now. imo  ~ MM

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Representative Finance: Taxes imposed in the budget are applied retroactively

Al-Saadawi explained that "the federal budget comes into effect after its publication in the Iraqi newspaper Al-Waqa'i’ and the issuance of final instructions on it, "indicating that" until now, the Al-Waqa’i ’newspaper has not published the budget, and the instructions have not been published until it is implemented by the ministries." LINK

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14/04/2021

Harb: Two things, only two, enable Parliament to avoid the 2021 budget problems

"The second option is the easiest for Parliament at the present time, as publishing the budget needs another week, and therefore Parliament can prepare a supplementary budget with the same steps that were prepared by the original budget."LINK

Don961:  What is the reason for the delay in publishing the budget law in the official gazette? Justice answers

Economy The Iraqi budge   2021-04-17 12:17 Shafaq News /

On Saturday, the Ministry of Justice revealed the reason for the delay in publishing the General Budget Law for 2021 in the official Iraqi newspaper.

A source in the ministry told Shafak Nyour agency that, "After the vote on the general budget law, the President of the Republic, Barham Salih, approved the law on April 8," explaining that "the Presidency of the Republic sent the draft budget law to the Ministry of Justice last Tuesday, and this is the reason for the delay." Published in the Iraqi newspaper Al-Waqi’a.

The source pointed out that "the draft budget law is ready for publication in the official newspaper Al-Waqae ', and will be published during the next Sunday or Monday."

It is noteworthy that the President of the Republic, Barham Salih, officially approved, on Thursday (April 8, 2021), the federal fiscal budget law for the current year, after the parliament voted on it.  LINK

MilitiaMan:  The week extension is coming to an end.. Sounds like they have it ready for publication... I like this one!!!

To implement or have taxes in order for to apply on income to the citizens, that won't work with the way it may have been presented in the past, however, if there is a new exchange rate that is internationally acceptable and Article 8 compliant, then what Saleh has spoken about being  only 1 decimal place the purchasing power will support the taxation. imo ~ MM

Baghdad-Al-Sharqiya, April 17:

Political sources said that the Iraqi Prime Minister Mustafa Al-Kazemi directed not to promote the proposal made by the Ministry of Finance regarding the tax deduction from the salaries of employees. From outside the contexts that were previously approved. The sources indicated that the Prime Minister referred on more than one occasion to the need to pay attention to the income of the poor classes and to spare them the effects of fluctuations and economic crises.  LINK

KTFA Members "News and Views" Friday PM 4-16-2021

KTFA:

Ryan1216:  Afternoon all. I understand everyone's frustration. Iraq has given us the same song and dance for years now. Although so much has been accomplished up to this point. Basically everything but the rate being released. It's really time for them to present the new rate so we all can move on. I'm so ready for this investment to end. Ramadan has always been slow along with much hype of a gift to the people (new rate) but hopefully this time the CBI comes through for us. I want this as much as anyone else. Any day now we'll see the budget posted in the Gazette and that'll tell us all we need to know. Let's just breathe and relax and see how this all plays out. All IMO

DeepWoodz:  Just a repeat here but..... ask yourself,

Why would they be holding up the disclosure of what’s in the budget? If it’s what they claim, you know, another year at least of the same rate then why the secrecy? The secret should match what they are yelling from the rooftops!!! 

But they haven’t disclosed it, one guy even leaked the rate is higher than neighboring countries and some others around the world! 

You know it makes sense that they WOULD keep it a secret as they are trying desperately to get rid of as many 000’s as possible! That’s only being fiscally responsible!

Samson:  Finding more than a million dollars and gold bars in the rubble of the ancient region of Nineveh

13:15 - 04/16/2021

On Friday, the Nineveh Investigation Court announced that it had seized large sums of money and valuable assets that were seized under the rubble of a house in Al-Shahwani area in Mosul for the purpose of handing them over to the Central Bank.

The Media Center of the Supreme Judicial Council stated in a statement received by the information, that “the court announced the discovery of an amount of one million six hundred thousand US dollars, gold and silver coins, bullion, and gold collectibles in the old“ Al-Shahwani ”area, while one of the excavators was removing the ruins of the old area’s role.

The statement added that "the aforementioned funds and materials were hidden in plastic barrels and nylon bags and were buried about three meters deep under the ground." It is likely that "these funds were used by ISIS gangs to finance their terrorist operations during their retreat to the right side of the Old City."

He emphasized that "the judge of the Nineveh Investigation Court decided to seize the seizures in preparation for handing them over to the Central Bank."     LINK

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Don961:  Conscious / Saleh: The Central Bank is working to stabilize the purchasing power of the Iraqi dinar

April 15, 2021   Conscious / Baghdad / h. G

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed today, Thursday, the efforts of the Central Bank to work to stabilize the purchasing power of the Iraqi dinar. 

Saleh said in a statement followed by (the Iraqi Media News Agency / INA) that “the central bank is working to meet the desired demand of foreign currency by market forces through the window of monetary policy operations or the so-called auction for the purposes of financing foreign trade for the private sector as well as providing a safe level of Cash dollar ”. 

He pointed out, "The central bank pushed towards the fixed exchange rate with clarity, transparency and ability, with the supply tools in order to lead to stability in price levels, stability of price expectations, a higher degree of certainty in looking at the levels of price stability and reduced transaction risks for market makers and dealers in it." 

He explained that "the monetary policy of the Central Bank seeks to achieve its goals and achieve its objectives under its law in force and its quantitative and price tools aimed at stabilizing the purchasing power of the dinar."   LINK

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Don961:  Parties and militias put Iraq on Europe's list of high risk countries in money laundering crimes

13 Hours Elapsed  Researcher Shatha Khalil *

The inclusion of Iraq by the European Union in May 2020 in the list of high-risk countries for money laundering and terrorist financing came as the warnings of the European Union ambassador in Baghdad, Martin Hutt, about the seriousness of the situation, confirmed that there are foreign powers that are using Iraq as a battlefield by the proxy to implement their agendas. Regionalism, which increases internal and regional instability, and everyone should realize that a weak and unstable Iraq can only end up in failure with disastrous repercussions in the region and beyond.

While the government of Mustafa Al-Kazemi is struggling to ensure that the salaries of employees, retirees, and beneficiaries of the social protection network continue to be paid, after the sharp decline in public treasury revenues due to the decline in oil prices under pressure with the outbreak of the Corona virus, those efforts received great disappointment after the re-inclusion of Iraq by the European Union in May 2020 is on the list of high-risk countries for money laundering and terrorist financing, along with North Korea, Iran, Afghanistan, Syria and Yemen, which has had catastrophic economic and financial repercussions on Iraq.

After the American invasion of Iraq in 2003, Iraq became a fertile ground for the emergence of money laundering networks that benefited from the repercussions of the radical change of the political system and the accompanying political, economic and security chaos fueled by feverish competition between political factions and representatives of ethnic and sectarian components for their possession of the largest possible amount of power and influence, which facilitates Exploiting state resources and collecting money that found its way abroad through organized and politically covered money laundering operations, and this was the main reason behind the disruption of control mechanisms over the movement of money and trade with other countries in light of the state of comprehensive openness to the global economy, despite the creation of many Regulatory bodies, such as the Federal Integrity Commission (CoI), offices of inspectors general in government ministries, agencies and institutions, as well as the Federal Office of Financial Supervision (FBSA), the Economic Crimes Directorate in the Ministry of Interior and the Economic Security Department of the National Security Agency, all of theseThe bodies were unable to combat this phenomenon due to political interference that used insecurity and sectarian warfare as a cover and a pretext to evade more.

More than a decade of pressure exerted by the World Bank and global financial institutions that have repeatedly threatened to put Iraq on the blacklist if it does not enact an anti-money laundering law, which did not happen until 2015 when the House of Representatives passed Law No. 39 on combating money laundering and terrorist financing Which provides for the establishment of the Anti-Money Laundering and Combating Terrorism Financing Council, which grants broad powers, as well as the formation of an office within the Central Bank of Iraq (CBI) called the Anti-Money Laundering and Combating Terrorism Financing Office.

The first report of the "Basel" index for combating money laundering (AML) for the year 2012 placed Iraq in the sixth place among the worst countries in the field of combating money laundering. This was called by the European Union in July 2016 to place Iraq on the list of countries that do not apply international standards, while the The European Union - in a goodwill gesture, by removing Iraq from its blacklist in 2018 despite its ranking first in the Basel Anti-Money Laundering Index report for 2017 as the most dangerous country in this field, yet the Iraqi government failed to take advantage of that, and lost an opportunity To improve the country's image by taking steps towards assuaging the concerns of its international partners.

Since 2003, Iraq has been included in a horrific corruption list that includes all the joints of the country, and the sources of money laundering are divided into the following:

ý Investment budgets: were allocated by successive Iraqi governments after 2003, and their estimates range between 300 to 500 billion US dollars, for the purpose of rehabilitating infrastructure and developing public facilities. They were a major source of profit for the ruling parties by allocating corrupt contracts and tenders to shell companies or Ineligible or ineffective in return for huge commissions believed to be not less than a fifth of the value of each contract, and these contracts were often executed in a non-conforming manner, or their delivery periods were extended for additional years under the pretext of insecurity.

ý Oil smuggling:In addition to the survival of the southern oil export platforms without meters until the end of 2017 and the use of the ullage method to measure the volume of oil tanker cargoes that were costing Iraq thousands of barrels of oil per shipment per centimeter not calculated, and the oil pipelines extending between fields and ports continue, Which operates to this day without meters, including at the level of oil fields, secondary pumping stations and refineries, and to be the preferred target for stealing crude oil and its derivatives. These practices are estimated at between 100 thousand and 250 thousand barrels per day of Iraqi oil production, in addition to Other aspects of administrative corruption in calculating the quantities of oil entering and leaving the refineries, in the central and northern regions, the oil fields and oil smuggling networks that were financing ISIS after the fall of the city of Mosul in mid-2014 are still operating as usual, albeit in favor of the Shiites loyal to Iran, so the militias are in cooperation with The Kurdish parties themselves are also active in oil smuggling Producer in the Kurdistan region, this leads to the accumulation of huge funds that must be laundered in order to facilitate their integration into the global financial system.

ý Drug trafficking and smuggling and arms trade: Before 2003, Iraq was free from this poisonous trade, and the laws of the state became as far as possible, as it was one of the cleanest countries in the region for this scourge; After this date, the consumption of local drugs became one of the most profitable and fastest growing businesses due to the involvement of Shiite militias and armed clans in them, especially in Basra Governorate, which is witnessing a fierce conflict around it. The monopoly of their smuggling routes from Iran to Iraq, which often manifests itself in armed clan conflicts.

ý The problem of out-of-control border crossings, until the beginning of July 2020, the land, sea and air border crossings remained completely outside the authority of the state due to the control of outlaw forces and militias over them, not to mention the Kurdistan crossings, the area whose government has refused since 2003 to enable the federal government to supervise According to the constitution, this costs the public treasury estimated losses between 5 and 10 billion dollars annually as a result of customs evasion and organized smuggling that is practiced there.

Reflection of the decision on the Iraqi economy:
Following the European Commission’s decision, Iraqi Foreign Minister Fuad Hussein issued a statement expressing his surprise at the inclusion of Iraq on the list of countries with high risks in money laundering and terrorist financing. He recalled the measures taken by Iraq during the past two years, as Iraq is deemed to have met all the conditions for being removed from the blacklist. However, the state of denial revealed by the minister's statement reveals a number of indicators, the most important of which are the following:

ý Money laundering has become entrenched in the structure of the political system as one of the manifestations of financial corruption that placed Iraq at the top of the list of the most corrupt countries in the world.
Money laundering has strategic importance with regard to Iran's plans to secure financial support for its allies and proxies in Syria, Lebanon, Yemen and Bahrain, by taking advantage of the uncertain Iraq situation from the perspective of the American administration, which does not seem to be in the process of a complete division with Baghdad until the elements of the Iraqi rejecting interior have matured. For Iranian hegemony over the country.

ý Because everyone has been involved in laundering operations, whether they are supportive of his government, neutral or not.

ý The absence and backwardness of the tax system and banking systems in Iraq, which made it difficult to keep pace with the movement of funds, verify their owners and settle their tax status, and the lack of clear controls for banks and exchange offices that are selected to participate in the hard currency auction, especially those that do not provide actual banking services and whose records are It is fraught with irregularities, and the failure of regulatory and judicial institutions to track down people whose Central Bank of Iraq data reveal that they have transferred billions of dollars with forged import permits.

ý The lack of legal cover to follow up on people who show manifestations of wealth that are not commensurate with the jobs and businesses they do, or are not commensurate with the prices of the services and goods they sell, especially if they are below the cost price or do not even cover transportation costs, such as fruits and vegetables imported from Iran As happened in June 2020 when Iraq imported $ 70 million worth of Iranian tomatoes, even when Iraqi farmers in the Kurdistan region threw their produce on the streets because there was no one to buy them.

More importantly, the great influence that the loyalist factions and their backers Hezbollah play within government institutions, which makes it difficult to stop the money laundering operations carried out in Iraq and linked to various illegal activities, from the smuggling of oil, drugs and weapons to kidnappings and the imposition of fees on businessmen and investors, in particular. In the Sunni provinces.

In July 2020, Iraq announced a political and diplomatic campaign with European countries to remove its name from its list of high-risk countries that witness money laundering and terrorist financing operations, as this poses a risk to the Iraqi economy and foreign investments on its soil, as the implications of this listing impose further restrictions on transfers Finance from and to Iraq, as it gives a sign of distrust by global financial institutions, including the ten banks called mothers, which control the capital in the world, and which will put Iraq in front of serious financial sanctions, which make it difficult for Iraqi and European investors to work in the country that is already suffering. From a stifling financial crisis. It will have a harmful economic and social impact on cooperation with European countries and on the credit situation and foreign investment in the country.

Everyone's interest is for everyone to contribute to the establishment of a prosperous, internally and externally stable, strong and sovereign Iraqi state as a basic condition for the stability of the region.

Economic Studies Unit, Rawabet
Center for Research and Strategic Studies    LINK

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Samson:  Turkey Bans The Use Of Cryptocurrencies

16th April, 2021
The Turkish Central Bank has banned the use of currencies and crypto assets in the purchase of goods and services, pointing to potential "irreparable" damages and great risks in those dealings.

Turkey's central bank said on Friday that cryptocurrencies and other digital assets based on distributed ledger technology could not be used, directly or indirectly, as a payment tool. The bank added: "Payment service providers will not be able to develop business models in a way in which encrypted assets are used, directly or indirectly, in providing payment services and issuing electronic funds, and they will not be able to provide any services related to these business models."

A growing boom in the cryptocurrency market in Turkey has gained more momentum recently, as investors hope to profit from bitcoin rally and hedge against inflation. The weakness of the Turkish lira and inflationary pressures also drove the demand for the cryptocurrency.

In a statement explaining the reason behind the ban, the Turkish bank said that these assets "are not subject to any regulatory mechanisms or supervision nor to a central regulatory authority."

Last week, Turkish authorities requested user-related information from trading platforms. Annual inflation in Turkey rose to more than 16 percent in March. The new legislation takes effect on April 30. Bitcoin was down 2.59 percent to $ 61,757 by 05:57 GMT.   LINK

KTFA Members "News and Views" Thursday 4-15-2021

KTFA:

Samson:  A large amount of hard currency was found in the ruins of a destroyed house in Mosul

15th April,2021
On Thursday, a responsible security source said that a large sum of hard foreign currency was found while removing the rubble from a destroyed house in the old city of Mosul.

According to the source in a statement to Shafaq News Agency, information reported that a citizen raised the rubble of his destroyed house in the Old City area by a (excavator mechanism) and a group of workers, as under the rubble of the house a very large sum of money in foreign currency (dollars) was found packed inside barrels Plastic.

The source added that part of the money was looted by the demolition workers and fled to an unknown destination, pointing out that the citizen informed the Bab al-Shat police station and went to the citizen's house and took the money to the police station.

And as the source indicated that a committee was formed by order of the judge of the Nineveh Investigation Court to inventory the amount.

For his part, another source said that these sums are believed to belong to the treasury house of ISIS in Al-Shahwan district in the old Mosul, indicating that the sums go back to the last days of the organization and its killing in the area that was largely destroyed. He continued by saying: The drilling operations are continuing to find these amounts.  LINK

Don961:   New developments regarding the dollar exchange rate

The financial expert and former official at the Central Bank of Iraq, Mahmoud Dagher, stressed, on Wednesday, the low exchange rate of the dollar and its stability at 1470 dinars during the coming days

Dagher stated in a televised interview with NRT channel , today (April 14, 2021), that "the rise in the exchange rate of the dollar against the Iraqi dinar during the past days and its arrival to about 1500 dinars is a temporary case, and the price will decrease in the coming days to the levels set by the Central Bank as a result." Pumping enough dollars into the local markets

He added, "The increase in the exchange rate during the month of last December was a hasty decision and did not undergo adequate studies, but it is impossible to return to the old exchange rate. He explained, "All the political blocs were with an increase in the exchange rate to cover the deficit and the permits issued now do not go beyond the political auctions

The exchange rate of the dollar had risen significantly over the past few days, bringing the price of the hundred dollar bill to about 150,000 Iraqi dinars

They pointed to media reports during the past few days about international recommendations to raise the exchange rate of the dollar to 1600 dinars, which led to an increase in demand for the American dollar in the local markets

It is worth noting that the Central Bank of Iraq had decided last December to raise the price of the dollar to 1450 dinars for the government, provided that the bank would sell it to banks at a price of 1460 dinars, and it would reach the citizen’s hand at a price of 1470 dinars   LINK

ATP Infinity:  (THERE ARE 2 CODED MESSAGES HERE)

1."the low exchange rate of the dollar...during the coming days"

2."the rise in the exchange rate...is a temporary case, and the price will decrease in the coming days to the levels set by the Central Bank as a result." 

BY WHO?  expert and former official at the Central Bank of Iraq, Mahmoud Dagher

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Samson:  The disappearance of a high-ranking Iraqi official, after an arrest warrant was issued against him

13th April, 2021
A security source in Babil Governorate stated, on Monday, that an arrest warrant had been issued against the current governor of Babylon, Hassan Mandil, on charges of corruption.

The source told Shafak News Agency, "A security force raided the house of the governor of Babylon, Hassan Mandil, searching for him, after the issuance of a warrant for arresting him and his son and son-in-law earlier on the background of his accusation of a corruption case."

The source added that the security forces did not find him or his son, indicating that they had disappeared from the sight of the security services, which are continuing to search for them.

It is noteworthy that Babil Governorate has witnessed continuous demonstrations throughout the past period, in which the demonstrators demanded the dismissal of the governor of Babel, Hassan Mandil, from his post and refer him to the judiciary for his involvement in financial and administrative corruption files.   LINK

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Samson:  Land Port design completed for Iraq-Kuwait Border

15th April, 2021
Multidisciplinary consultancy Khatib & Alami has completed the design for a new land port in Safwan, Basra, at the border between the Republic of Iraq and the State of Kuwait.

Subject to authority approvals, the project will enhance the passage of commercial goods and people by increasing capacity to around 1,000 vehicles per day, with the seamless separation of traffic between commercial goods and travelers.

The final designs and plans for the circa 727,500 m² site include industry-leading technologies for customs transactions and goods clearance. These will improve the experience of travelers, increase the efficiency of customs revenue collection and reduce overcrowding, while maintaining preventive health measures.

Fadi Tannir, K&A's project manager for the new land port, says:

"This is a strategically important project for Basra Governorate which will stimulate economic growth and long-term prosperity in southern Iraq, while energizing tourism activity between Iraq and other Gulf countries.

"Our design will transform the Safwan border crossing, introducing much-needed infrastructure to enable the swift and efficient entry and exit of goods and people, taking advantage of best practice systems and technologies."

The Safwan Land Port is among several high profile infrastructure projects being undertaken by K&A on behalf of Basra Governorate. This includes critical water projects which will significantly improve the resilience of the water system, including access to safe drinking water throughout the region. K&A has maintained an active presence in Iraq for almost 15 years.  LINK

Samson:  Iraq is at the bottom of the list of the best countries in the world

14th April, 2021

Iraq is at the bottom of the list of the best countries in the world for the year 2021, according to the classification of the "BAV" group for statistics and surveys, which it prepared for the best countries in terms of cultural influence, entrepreneurship, heritage, openness to business, and even quality of life.

Canada topped the ranking for the best countries in the world, according to the group’s standard scale, followed by Japan in second place, and Germany in third place. And after Switzerland topped the ranking last year, it slipped to fourth place this year, ahead of Australia, which ranked fifth.

The United States of America came in sixth place, one place ahead of the last ranking published by the group in 2020.

While the UAE ranked 22nd in the world, topping the ranking of Arab countries in terms of the best countries, followed by Qatar in second place in the Arab world and 32 globally.

Egypt came in third place in the Arab world and 33 globally, achieving a better result than last year, as it was ranked 36th in the world.

Saudi Arabia ranked 35th in the world and fourth in the Arab world, followed by Morocco in fifth place in the Arab world and 38 globally.

Jordan ranked sixth in the Arab world, while it ranked 56 globally, ahead of Tunisia, which came in 65th in the world, followed by Oman in eighth place in the Arab world and 70 globally.

Lebanon maintained the 74th position in the world compared to the last classification, while it ranked ninth in the Arab world, ahead of Iraq, tenth in the Arab world, and 78 in the world.

The classification covers 78 countries, a set of 76 characteristics related to the success of the countries were identified.

The characteristics were presented by country in a survey that included more than 17 thousand people from all over the world, as the participants assessed the extent of their association with their country according to the value they see in it within the standard value scale.

The more a country is perceived (based on the individual survey) as representing a specific characteristic, the higher the degree of characteristics of that country and vice versa.

The traits were grouped into 10 sub-categories that were ranked based on the best countries for cultural impact, entrepreneurship, heritage, openness to business, power, and quality of life.

The scores for each country were determined by sub-ranking by calculating the average score received by the country for each feature.

The BAV group includes mathematicians, statisticians, anthropologists, innovators and data analysts who collectively create a model for determining the ranking of countries across the world within one or more specific criteria.

This group ranks the best countries for six years, and this year's report relies on "a number of qualitative characteristics and impressions that drive trade, travel and investment and directly affect national economies."  LINK