KTFA Members "News and Views" Saturday PM 5-29-2021

KTFA:

Samson:  Kurdistan Democrat: A delegation from the Kurdistan Regional Government will visit Baghdad to settle salaries and entitlements   

29th May, 2021

The Kurdistan Democratic Party bloc in the Iraqi Parliament confirmed, on Saturday, that a delegation from the regional government will visit Baghdad to settle salaries and arrears and implement the general budget law for 2021.

"A delegation from the Kurdistan Regional Government will visit Baghdad, tomorrow, Sunday, to discuss with officials in the federal government the issue of salaries and the region's dues," the representative of the Democrat, Sherawan Al-Dobardani, told Shafaq News.

He added that "the Kurdish ministerial delegation will discuss with the Federal Ministry of Finance the issue of non-implementation of the budget law and delaying sending Kurdistan Region dues."

"We hope to resolve the issue of the delay in disbursing the region's dues for the purpose of disbursing the salaries of the Peshmerga and the employees in Kurdistan," he added.  LINK

DeepWoodz:  IMO  MM you gonna love this one!     I think it’s safe to say that when we see Kurdistan finally receive their dues from Baghdad.......It’s all over but the celebration!

MilitiaMan:  I do and lets see if the Kurds get the mechanism we all await. There was a quorum today in the HoR. It was an eye opener and very welcome indeed. My feeling was that they would get it. Why? The list of laws they have on the plate with two imo being critical items that need to be sorted.

They told us that one directly and other indirectly were slated. One of the ones directly mentioned was the Iraq National Oil Company Law Amendment (INOC)  and the one the indirectly was mentioned merely, as a new law on the table. 

 If you recall the 7 page report from the expert on oil and Iraq I posted the other day mentioned some key things and one of which is a potential new version of the Federal Oil & Gas Law and an amendment to the INOC. Those two items imo will be what the Kurds are waiting on, just as the CBI may be as well imo.

The INOC imo is the mechanism or vehicle the FOGL needs in place to make sure that the citizens wealth and the wealth of the state are in line with their needs. Fair and square, level playing field. That is a crucial for this to work out..

My view is the new version of FOGL has been hammered out already, as I wrote yesterday.  They told is in the past they had a political consensus. Even yesterday, they told us that it would be premature to think they didn't have and agreement in respect to the 2021 Budget Law in relationship to oil.

So, the INOC if put in place will be the glue we need. It will bind the two laws (INOC / FOGL), as they are interrelated. I am not expecting that to be front and center today, but, we never know. Lets see what the weekend brings forth.

 I like where we are!!! Imo~ MM

Jerry1971:   THIS ONE STANDS OUT THE KURDS GOING TO BAGHDAD TOMORROW FOR SETTLING THE MECHANISM OF PAYMENTS BETWEEN THE TWO SIDES LETS SEE WHAT THE OUTCOME IS HOPEFULLY MAY SEE THE NEW EXCHANGE RATE SOON AS PER THEIR AGREEMENT ALREADY ON THE BUDGET AND HCL IN PLACE IMO EXCITING TIMES FOLKS.   

Mr.Don:         Gotta like this! They committed to paying the Kurds THIS coming week...but couldn't LAST week because of a "lack of liquidity". Now they commit to pay the farmers THIS coming week as well. Seems like they are planning on ADDITIONAL LIQUIDITY! Hmmm...wonder where all this new liquidity comes from.  

Samson:  The US government: The attack on our embassy in Baghdad cost $ 35 million

14:48 - 05/29/2021

A recent report by the Inspector General of the US State Department on the department's strategy for preventing fires revealed that the attack on the US embassy in Baghdad on New Year's Eve 2019 had caused losses estimated at $ 35 million.

Code & Ducker reported in a report translated by Al-Maaloumah agency that “the total amount of losses appeared in the footnote of the report, saying that out of the total losses amounting to 37 million 291 thousand and 962 dollars, there were 35 million dollars attributable to a fire in the American embassy as a result. Being attacked.” He added, "Although the report does not provide the exact date of the attack, the fiscal year 2020 covers the period from October of 2019 until September of 2020, and it is likely that it refers to December 31 of 2019."

He continued, “According to the Pentagon, the Iraqis and a number of Resistance and Popular Mobilization personnel penetrated the embassy’s grounds and set fire to parts of it, including, reportedly, the reception area and the fuel depot, in the wake of the protest against the US bombing of factions of the Popular Mobilization Forces , where a warehouse fire was extinguished. Fuel before it causes a bigger explosion”.

And he continued, "The US State Department report did not discuss the causes of the accident, but stated that about $ 20 million in damage had been caused to the gates with high security measures that were designed to buy time for those inside in the event of an attack.

The report indicated that “despite the high price that will come later, the Ministry of Defense underestimated the impact of the attack, saying that for an embassy complex larger than the Vatican City, it caused relatively little damage,” according to its claim.   LINK

*************

Samson:  Representatives involved in corruption take off their immunity robe after the Federal Court's decision

29th May, 2021

Calls are mounting to lift the immunity of the representatives of parties and blocs, who have been involved in corruption and illegal acts, and the exploitation of the parliamentary seat and its powers to carry out violations and personal benefit from immunity and other privileges.

Observing the obelisk indicates widespread popular dissatisfaction with the observed cases in which representatives were involved in corrupt contracts and deals, while Iraqi circles appreciate the decision of the Federal Supreme Court to reverse previous decisions regarding obtaining the approval of the House of Representatives in all crimes with which the representatives are accused.

Legal expert Tareq Harb told Al-Masala, Saturday, May 29, 2021 that the Federal Supreme Court's decision is in accordance with the provisions of the constitution, because the constitution distinguishes between two cases. He added that the first case is the witnessed crime, as the constitution did not entrust the matter to the House of Representatives, meaning that if there was a flagrant crime for one of the representatives, the court has the right to issue an arrest warrant.

As for the second case, it needs to lift his immunity from Parliament, after which the court is entitled to issue an arrest warrant. And he went on: The new thing in the statement of the Federal Supreme Court is to indicate to the House of Representatives indirectly, that you must take the necessary measures regarding the judiciary’s requests to lift immunity.

He continued: Lifting immunity requires a vote by members of Parliament, but the House of Representatives must take into account the requests of the Judicial Council to lift the immunity of some deputies.

Harb revealed about twenty or more transactions that still exist calling for the lifting of the immunity of some deputies, but they have not been lifted so far. He continued to say that the Supreme Court, in its statement, gave a good, accurate and deep indication in this area, and the House of Representatives must take the necessary steps to interpret the statement issued by the Federal Court. He pointed out that with this decision, courts can settle corruption cases faster than before, because with most corruption crimes, the description of misdemeanor crimes is described, and their resolution depends on lifting immunity.

On Tuesday, the Federal Supreme Court decided to withdraw from previous court decisions regarding obtaining the approval of the House of Representatives in all crimes for which members of Parliament are accused, whether they are felonies, misdemeanors, or offenses.

 The court decided to limit obtaining the approval of the House of Representatives in only one case, which is the issuance of an arrest warrant for a crime of the type of unmarked felony. With this decision, courts are able to settle corruption cases faster than before, because most corruption crimes apply to the description of misdemeanor crimes, and resolving them depends on lifting the immunity of the accused if he is a member of Parliament, according to the decision.  LINK

MilitiaMan and KTFA Members "Behind Closed Doors" 5-28-2021

KTFA:

Samson:  Parliamentary energy determines two matters to implement the agreement regarding oil exports to the region

27th May, 2021

The Parliamentary Oil and Energy Committee announced, on Thursday, that the implementation of the agreement on oil exports to the region needs two matters, while indicating that the announcement of the non-commitment of one of the parties to the agreement is premature.

The deputy head of the committee, Rebwar Taha, said, according to the official agency, that "the committee's legislative and oversight role is to follow up and implement agreements, including the region's oil exports agreement between Kurdistan and Baghdad," indicating that

"the announcement of non-commitment by one of the parties to this agreement included in the budget law regarding oil exports in "The territory is premature."

Taha added that "the implementation of the agreement needs technical matters on the method of delivery in addition to administrative matters," stressing the need for "the commitment of the governments of the center and the region to the agreement and the mechanism for its implementation according to what was agreed upon in the budget."

He stressed that "a delegation from the region headed by Qubad Talabani will visit Baghdad to agree on a mechanism for implementing what was agreed upon in the budget law in terms of receiving and delivering receivables," noting that "the Oil and Energy Committee has a responsibility to monitor the implementation of the voting materials and the commitment of the two parties in their implementation." And Taha added, "The committee will be a neutral party for the two sides to reach an agreement and unify views in a way that serves the interest of the country and the people."  LINK

MilitiaMan:  When they say that there is non-commitment by one party is premature in the implementation of an agreement with respect to the budget law and oil, it suggests that there is not an issue. imo They have and agreement and one that was within the budget already.

They have a neutral party involved to see it through to implementation.

Well it looks as though the Kurds feel confident enough to pay salaries Sunday. What it is also suggests is that the FOGL and INOC are likely to be sorted tomorrow in the HoR session or has it been done behind closed doors? Don't know yet. But we are about to find out. 

As the two issues are all about the or a mechanism.. I.e., (exchange rate). imo ~ MM

Popeye7:  If they are getting paid, there stands a good chance we are as well...(smile)

************

Samson:  The Ministry of Finance in Kurdistan Region will start distributing salaries the day after tomorrow

28th May, 2021

The Ministry of Finance and Economy in Kurdistan Region announced on Friday that it will start distributing salaries to all employees and workers in the public sector, starting from the beginning of next week.

The ministry said in a brief statement today, that on Sunday, the 30th of May, the salaries of the 70 and 80 units of the Peshmerga forces, and employees of the Ministry of Finance and Economy, will be paid.

The statement indicated that salaries will be distributed to all employees during the next week.

It was scheduled to begin the Ministry of Finance to distribute salaries on Tuesday, but the lack of liquidity in banks and government banks in the region prevented that.  LINK

************

Samson:  Corrupt MPs fear prosecution after removing their immunity

27th May, 2021

The deputy of the Alliance of Walkers Salman Hassan announced, on Thursday, May 27, 2021, that MPs in Parliament have "feared" the Federal Court's decision regarding the mechanism for lifting immunity by a judicial decision without the need for a vote by the House of Representatives, while the legal expert Tariq Harb explained, Tuesday May 2021, the decisions of the Federal Supreme Court regarding lifting the legal immunity of members of the House of Representatives agree with the provisions of the constitution.

Political forces and parliamentary figures fear that the parliament will vote to lift the immunity of the deputies who are wanted for the investigation of corruption cases by the Diwaniya Committee on Anti-Corruption.

MP Salman Hassan said, "The Federal Supreme Court's decision will be a contributor to the issue of combating corruption and holding the corrupt accountable, as there were MPs involved in established corruption cases, and we support any decision that contributes to fighting corruption and the corrupt." He indicated that "there is a fear of political targeting of some MPs after losing their immunity is a possibility, but the decision of the Federal Court is binding and has become binding on all authorities, and it cannot be appealed or rejected by any party." Harb told Al-Masalla: With this decision, courts can settle corruption cases faster than before, because with most corruption crimes, they are described as misdemeanor crimes, and resolving them depends on lifting the immunity of the accused person if he is a member of Parliament.

On Tuesday, the Federal Supreme Court decided to withdraw from previous court decisions regarding obtaining the approval of the House of Representatives in all crimes for which members of Parliament are accused, whether they are felonies, misdemeanors, or offenses. The court decided that obtaining the approval of the House of Representatives is limited to one case only, which is the issuance of an arrest warrant for a crime of the type of felony that is not witnessed, except for the immunity of the members of the House of Representatives, and legal measures can be taken against them directly in the event that any of them is accused of a felony, misdemeanor, or contravention. 

On Tuesday, April 27, 2021, Deputy Speaker of Parliament Bashir Al-Haddad announced the arrival of a number of requests to lift the immunity of some parliamentarians from the judiciary accusing them of corruption files without specifying the number of those requests, while sources said, Monday, April 19, 2021, that The Supreme Judicial Council asked Parliament to lift the immunity of twenty MPs over corruption files they were involved in.

There is conviction among a wide spectrum of Iraqis that the political blocs with parliamentary influence do not want to dissolve the representatives, and that there are corrupt deputies hidden behind immunity, so they do not want to dissolve parliament early.   LINK

"Vietnam News" Posted by Samson 5-28-2021

KTFA:

Samson:  State Bank of Vietnam (SBV) approves plan for digital transformation by 2025

26th May, 2021

Nguyễn Thị Hồng, deputy governor of the State Bank of Việt Nam (SBV), has just approved a plan for digital transformation of the banking industry by 2025, with a vision to 2030.

The plan is expected to comprehensively renovate the management activities of the SBV in a modern direction, on the basis of effective application and exploitation of achievements of the fourth industrial revolution, fully meeting the Government's criteria and indicators on digital transformation.

According to this plan, 100 per cent of the public services of the Bank will be eligible to be upgraded to level 4 by 2025. One-hundred per cent of level 4 public services are integrated on the national public service portal and 90 per cent of work records at the SBV are processed and stored online.

At least 50 per cent of inspection and supervision activities of the SBV are carried out through the digital environment and the information system of the Bank. For credit institutions, foreign bank branches must have at least 50 per cent of banking operations allowing customers to perform completely online. In particular, the plan also sets a target of at least 50 per cent of adults using electronic payment services and at least 70 per cent of customer transactions made through digital channels.

At the same time, the SBV expects at least 60 per cent of credit institutions to have revenue from digital channels of over 30 per cent. At least 50 per cent of decisions on disbursement and lending of commercial banks, financial companies for small loans and consumer loans of individual customers are made in the direction of digitisation and automation. And at least 70 per cent of work records at credit institutions are processed and stored digitally.

By 2030, the SBV set a goal that at least 70 per cent of its inspection and supervision activities are carried out through the digital environment and the information system of the Bank. At least 70 per cent of banking operations allow customers to perform completely digitally.

To implement this strategy, the SBV has proposed a plan to promote communication activities, modernise the payment infrastructure, and review and propose amendments and supplements to documents to create favourable conditions for banking digital transformation.

On the other hand, the SBV also proposed to have preferential policies, attract high-quality human resources with knowledge and degree in information technology and skills in digital transformation, as well as regularly deploying training programmes to foster knowledge and skills on digital transformation for human resources in the banking industry.

At the same time, the SBV also recommended amendments and supplements for undergraduate and postgraduate education programmes in banking - finance on professional contents associated with digital transformation The decision took effect on May 11.   LINK

***************

Vietnam :  the only country to have its outlook improved by three credit rating agencies

24th May, 2021
The S&P Global Ratings announced late last week it had retained Việt Nam’s sovereign credit rating and improved its economic outlook to "positive" from "stable".

This made Việt Nam the only country in the world to have its outlook improved this year by three credit rating agencies, Moody’s, S&P and Fitch, according to the Ministry of Finance. 

The S&P made the decision on the back of Việt Nam’s impressive economic achievements and reforms of policymaking amid the COVID-19 pandemic. The agency said after recording one of the highest economic growth rates worldwide in 2020, Việt Nam would continue with solid recovery in the next one to two years thanks to the Government’s effective measures against the pandemic, efforts to attract foreign investment, stable exports, strong domestic demand and solid external position. Việt Nam’s fiscal policies and public debts showed efficiency and flexibility, which contributed significantly to controlling the pandemic, the agency said.

Moody’s Investors Service in mid-March raised its outlook for Việt Nam to "positive" from "negative" and affirmed the country’s long-term credit rating at Ba3. The drivers of the positive outlook included signs of improvements in fiscal strength and potential improvements in economic strength that might strengthen Việt Nam's credit profile over time.

Fitch Ratings in early April revised Việt Nam's outlook to "positive" from "stable" and affirmed the long-term foreign-currency issuer default rating at 'BB', given the country's success in bringing the coronavirus outbreak swiftly under control alongside strong policy support and export demand. 

The COVID-19 pandemic has caused social instabilities and economic slowdown in many countries in the world. In 2020, credit rating agencies lowered sovereign credit rating 124 times and economic outlook 133 times globally. From the beginning of this year to May 21, 16 countries had their outlooks lowered by Moody’s, S& P and Fitch. The finance ministry said that the Vietnamese Government would continue pursuing the goal of consolidating the macro-economic foundation, maintaining stable growth in production and trade, improving the internal capacity of the economy, boosting institutional reform in combination with fighting the pandemic, contributing to realising the country’s mid and long-term goals and improving national stature.

In the near future, the ministry and the Government agencies will continue enhancing collaboration and information sharing with credit rating agencies and international organisations to fuel socio-economic development and improve Việt Nam’s creditworthiness, the ministry said.

The Asian Development Bank in its Asian Development Outlook 2021 launched in late April forecast the Vietnamese economy would grow at 6.7 per cent this year, despite the return of the virus, and at 7 per cent in 2022.

The World Bank in mid-May however warned about several risks to the Vietnamese economy due to the fourth outbreak of the virus in Việt Nam starting from late April. With new restrictive measures in place, the outbreak would affect domestic economic activities, especially tourism, transportation and retail. The World Bank recommended the Vietnamese Government consider stimulating domestic demand through the application of more adaptive fiscal policies, including a larger-scale support package for people and businesses affected by the pandemic.

Although 2020 was considered a hard year for the global economy due to the impacts of the pandemic, the Vietnamese economy managed to expand at 2.91 per cent while many countries saw considerable recessions. The Vietnamese economy reached a scale of $343 billion last year, making the country the fourth-largest economy in the Southeast Asia region, coming after Indonesia ($1.088 trillion), Thailand ($509 billion) and the Philippines ($367 billion).

The Government set the target for GDP growth at 6.5 per cent this year, higher than the National Assembly’s plan at 6 per cent.  LINK

************

Moody affirms its long-term domestic and foreign currency deposit and issuer ratings of four Vietnamese banks

28th May, 2021
Credit rating agency Moody's on Wednesday affirmed its long-term domestic and foreign currency deposit and issuer ratings of four Vietnamese banks.

The Orient Commercial Joint Stock Bank (OCB), Tiên Phong Commercial Joint Stock Bank (TPBank), and Vietnam International Bank (VIB) have been assigned B1, while the Vietnam JSC Bank for Industry and Trade (VietinBank) at Ba3, because of stable credit profiles that underpinned the affirmation of their respective Baseline Credit Assessments (BCA) and Adjusted BCAs at b1.

The ratings of TPBank and VIB reflect the banks' stable and good asset quality; good profitability; and adequate capitalisation. OCB's ratings reflect the bank's strong capital position; above-average profitability; and elevated asset risks. The report says TPBank, VIB and OCB are reliant on market funding, a result of their small domestic franchises, but the high levels of liquid assets in their balance sheets mitigate this risk.

Moody's expects the asset quality of TPBank and VIB will remain stable in the next 12 to 18 months, as reflected by the declines in their respective non-performing loan (NPL) ratios to 1.2 per cent and 1.7 per cent as of the end of 2020, from 1.3 per cent and 2.0 per cent as of the end of 2019. OCB's asset risks will likely remain elevated over the same period.

A common risk factor for the three banks is their rapid loan growth, which increases their risk of credit losses due to a higher level of unseasoned loans. Moody's expects profitability for the three banks to remain stable, supported by good yields from their retail and SME loans, and growing bancassurance fee income. VietinBank's ratings reflect improvements in the bank's asset quality; its average profitability; weak capitalisation; and good deposit franchise, with Moody's expecting its asset quality to remain stable in the next year and a half.

The report said that it could upgrade the long-term ratings of the four banks if the Vietnamese Government's sovereign rating or the banks' BCAs are upgraded. The banks' BCAs could be upgraded if there are material and sustainable improvements in their solvency metrics.

Moody's could downgrade the long-term ratings of these banks if their credit fundamentals severely deteriorate, including a spike in NPLs leading to higher loan loss provisions that will weigh on the banks' profitability and capital. A significant deterioration in the banks' funding and liquidity could also be negative for the ratings.   LINK

************

Samson:  Viet Nam, US to further intensify bilateral relations: top diplomats

28th May, 2021

Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and US Secretary of State Antony Blinken discussed bilateral relations as well as regional and international issues of shared concern during their phone talks on Friday.

Son congratulated Blinken on the US’ recent successes in curbing the COVID-19 pandemic and initially recovering the economy and thanked the US Government for assisting Việt Nam in the fight against coronavirus, especially in accessing vaccines. He highly valued Blinken's significant contributions to bilateral relations, expressing his readiness to co-operate closely with the official to further promote the Việt Nam-US comprehensive partnership. Việt Nam would continue making efforts to achieve stable and harmonious trade ties with the US, and it hoped that the US would soon conclude the investigations related to the Vietnamese currency issue under Section 301, he said.

The minister also spoke highly of the US Government’s investment commitments to the Fulbright University Vietnam (FUV) so as to turn the FUV into a leading centre for training high-quality human resources for not only Việt Nam but also the entire region. Blinken highlighted his country’s support for a strong, independent, and prosperous Việt Nam, noting that the US Department of State would work with relevant agencies to continue bringing the Việt Nam-US relations to a new height.

Speaking highly of Việt Nam’s successes in coping with COVID-19, he said the US would keep assisting countries, including Việt Nam, to access vaccines via the COVAX Facility and partner nations. He also congratulated the Southeast Asian country on successfully taking over the chairmanship of ASEAN in 2020, and pledged continued support for Việt Nam to fulfill its non-permanent membership of the United Nations Security Council for 2020-21.

The US attached importance to and supports ASEAN’s centrality in the region and the Mekong-US partnership, Blinken said, adding that it wanted both sides to continue enhancing co-ordination in the issues of common concern at regional and international mechanisms, thereby helping to consolidate peace, stability, co-operation, and development in the Asia-Pacific region and the world as a whole.

During the talks, the two ministers shared the view that the Việt Nam-US relations were growing well in various areas, based on their respect for each other’s independence, sovereignty, territorial integrity, political regimes, and mutual benefits. They agreed to continue strengthening collaboration so as to help further expand and intensify bilateral relations, with a focus on economic - trade - investment links, settlement of war consequences, maritime capacity building, science - technology, education-training, COVID-19 prevention and control, climate change response, and environmental protection. LINK

"Do We See The Picture" by MilitiaMan Thursday Night 5-27-2021

KTFA:

Samson: Opening of the Iraq reconstruction and investment exhibition in Erbil

05/27/2021 13:10:57

The Ministry of Trade announced the launch of the Iraq Reconstruction and Investment Exhibition for the period from 26 to 29 May.

The exhibition is organized by the Turkish "Sofwar" company for organizing exhibitions and conferences, in cooperation with the Erbil International Fair, in coordination with the Ministry of Trade, and in the presence of a large number of officials, businessmen and a large number of media professionals in the province.

The director general of the Iraqi Exhibitions Company, Sarmad Taha, said in a statement to the ministry that the Euphrates News Agency received a copy of it.

He stated, "The exhibition is an important step aimed at stimulating the economy, which is witnessing a recovery in Erbil. It is also an important opportunity for investment and encourages Arab and foreign companies to enter into an investment competition to reconstruct the infrastructure and areas damaged by terrorist acts."

He noted, "The Iraq reconstruction exhibition in Erbil coincides with the opening of the Nineveh Energy, Reconstruction and Investment Exhibition."   LINK

**************

MilitiaMan:  This also front runs the World Bank live streaming the Human Capital Development virtual Global meeting on 05/31/2021- 06/01/2021. Not to mention, there are other key issues aligning at the same time.

The 2021 budget is not open or implemented if I recall correctly. There is to be on the 05/29/2021 many laws before the HoR.. Mainly the one I have interest in is the potential new law in regard to HCl or FOGL and the INOC.

Both the INOC and FOGL are critical imo..

But, with this Reconstruction and Investment Exhibition now on going supports a new market economy us underway or just about to be announced.. 

Customs and Borders are in the news today with signings, etc.. Digital currency with the IQD is another convergence..

So, do we see the picture? lol  I sure do.. The canvas is now about dry.Oh ya.. 3xSDR, just ask the AMF.. imo.. ~ MM

Iobey777:  MM!!  it sure seems to be lining up for a major announcement..or will they just show it without announcing? IMO..that could be possible! SMILING!

MilitiaMan Thursday PM "I See Big Things in the CBI's Front Yard" 5-27-2021

KTFA:

Don961:  An invitation to issue a digital currency with official controls

Thursday 27th May 2021  Baghdad: Mustafa Al-Hashemi

At the global level, speculation in digital currencies has achieved imaginative gains and wealth for its dealers, but despite these gains, they are not without the risks of containing gates or outlets for corruption and money laundering, because speculation in them is often far from the financial control of countries that allow dealing with them

Iraq is keen not to open the way to such transactions, but there is a call to launch an electronic currency for the central bank (as secured bonds) to satisfy the desire of the new generation to speculate with a real currency that operates under the controls of the central bank.

The Central Bank had earlier launched the digital enrollment service, which is the first of its kind in Iraq and the region, which is an integrated digital system that enhances independence and freedom from traditional financial systems, and works to transform Iraq into a country less dependent on cash, which enables it to fight Corruption, evasion and bureaucracy in financial dealings within banks operating in Country.

Despite the spread of a number of websites for companies in Iraq that promote dealing in virtual cryptocurrencies, which countries deal with in which speculation is permitted, specialists called for secretly monitoring the work of those companies and offices spread in the regions of Iraq, despite the Central Bank's warnings against subjecting dealers to the provisions of the Anti-Money Laundering Law .

Academic economist Dr. Majid Al-Baidani said: {Electronic currencies are virtual currencies that trade on the Internet only, without a real existence for them, and this alone is an advantage that makes it vulnerable to being a front For money laundering and terrorist financing}.

Al-Baidani added to {Al-Sabah} that {the central bank prohibits dealing with it because it is not issued by any central bank in the world. It is also used for online purchase and supports payment using Bitcoin cards or may be converted to traditional currencies in some cases}.

A statement by the Central Bank was issued in 2017, warning against dealing in Bitcoin because it contains risks that may arise from its circulation, and despite the lack of popularity in Iraq, but the Central supports subjecting its dealers to the provisions of the Money Laundering Law No. (39) of 2015 and the laws related to this. Of particular.

In turn, economic researcher Aya Adel suggested issuing a special Iraqi electronic currency for trading via the Internet, provided that it would be subject to control and follow up on the movement of the funds circulating in it.

And she saw that this {will keep those dealing with it away from suspicions of money laundering and make it as electronic secured bonds that can be sold at an interest rate or discount to satisfy the desire of the new generation and their thirst for trading, selling and buying via the Internet.   LINK

*************

MilitiaMan:  Look, more mechanisms gearing to be in circulation. The CBI is going to have control over their digital currency and it will keep people safe from the Money Laundering Law.

I'll suggest that the BUNA meeting and the Arab Digital Transformation Summit was all about digital currencies and where the collaboration was about the tax evasion issues regarding crypto currency, among many other issues.

This is not a new concept to have control over the movement of money. Thus, the move toward what I have mentioned in the past, that skirting the Central Banks is not a good idea.. They'll not take it sitting down.

Now they tell us they effectively infiltrated the companies in Iraq's markets that have been doing it.

The next move for the CBI is to release the new Digital Dinar that will compete and trade with many others in the region and the USA...All being cleared through FINTECH / BLOCKCHAIN technologies..

I see big things in the CBIs front yard. Look at the Mosul Branch going Digital, today in the news. Wow... A big move and now it appears the stage is set.

Kahdimi  has been speaking out and so has the CBI and Financial advisors.. Very good to see... imo !~ Hold on and keep a close watch. ~ MM

MilitiaMan Wednesday PM "CBI-What A Move!" 5-26-2021

KTFA:

Samson:  The Central Bank, Mosul branch, holds a lecture specialized in activating electronic payment and collection tools

26th May, 2021

The Central Bank of Iraq, the Mosul branch, organized an introductory lecture entitled (Electronic payment tools and electronic collection) for the implementation and management of the Iraqi payment systems. The lecture included several topics, the most important of which are:

1. Real-  time Gross Settlement System ( RTGS ).

2. And the electronic clearing system ( ACG ).

3. Electronic collection.   LINK

Samson:  The Central Bank, Mosul branch, holds an introductory lecture to enhance financial inclusion

26th May, 2021

The Central Bank of Iraq, the Mosul branch, organized an introductory lecture to enhance financial inclusion in order to develop and strengthen the financial and banking sector in the province due to its great importance in achieving economic growth and financial stability, and this lecture included various topics, including:

1. Clarify the concept of financial inclusion

2. Central Bank of Iraq strategy for financial inclusion

3. Mechanisms for spreading it to the community at large

4. Iraqi payment system

5. Developing the infrastructure for electronic payment systems and establishing a national exchange

6. Means for electronic payment systems LINK

**********

MilitiaMan:  The CBI is talking and they are telling us the have mechanisms for spreading to the community at large. Physical and Digital.. Wow! 

Can't get any clearly than than that!!  imo

We have been waiting for the people to be told by the CBI. This will reduce tensions!  What a move..

Now keep in mind the WB (World Bank) has a Human Capital Development meeting going out to the Globe virtually and streaming live.. Read the below a few times and think it through.

 What are mechanisms..(rates? ). lol Imo The are finishing the reforms..!!!  ~ MM

Mechanisms for spreading it to the community at large

"Wednesday News" Posted by Samson 5-26-2021

KTFA:

Samson:  The Federal Court gives the green light to prosecute more than 20 deputies accused of corruption

26th May, 2021

The Federal Court’s recent decision to revoke the immunity of members of the House of Representatives granted the judiciary permission to prosecute more than twenty deputies accused of financial and administrative corruption, without referring to Parliament. She described this step as "part" of the reform process, after the government, through the Anti-Corruption Committee, managed to arrest a number of people accused of corruption

Yesterday morning, the Federal Court issued a clarification regarding the immunity of members of Parliament, and confirmed that they have no immunity except when an arrest warrant is issued for an unmarked felony

In a press release, she stated, "The court decided, by its decision 90 / federal / 2019, on 4/28/2021, to revoke previous court decisions regarding obtaining the approval of the House of Representatives in all crimes against which members of the House of Representatives are accused, whether they are felonies, misdemeanors, or offenses. She added, "We decided to limit obtaining the approval of the House of Representatives in only one case, which is the issuance of an arrest warrant for a crime of the type not witnessed felonies, except for the immunity of the members of the House of Representatives."And the Federal Court continued: "It is possible to take legal measures against them directly in the event that any of them is accused of a felony, misdemeanor or contravention

Bahar Mahmoud, a member of the Parliamentary Legal Committee, says that "the decisions of the Federal Court are categorical and binding on all authorities, and cannot be neglected," calling for "the abolition of immunity for all three presidencies, just like the members of Parliament. She believes that "the immunity that existed means inequality among the Iraqi people before the judiciary," noting that "immunity should not be aimed at protecting the corrupt and thieves, and it grants MPs or anyone the right to practice corruption

In the past, hundreds of arrest warrants were issued against a large number of deputies. The Supreme Judicial Council demanded several times that the Presidency of the Council of Representatives lift the immunity of MPs accused of stealing public funds. A member of the Parliamentary Legal Committee added, "There are a large number of members of Parliament who have submitted requests to lift immunity, but they resorted to candidacy for elections in order to obtain immunity and to evade legal accountability and protection in an unreasonable manner

Article 63 / Second of the Federal Constitution regulates the granting of legal immunity and lifting it from the representative. Paragraph (b) prohibits the arrest of a member during the period of the legislative term unless he is accused of a felony and with the approval of the majority of members. Immunity with the approval of the Speaker of Parliament. Mahmoud stresses that "the number of MPs who will be prosecuted after the decision to revoke immunity is large and that the court's decision came into effect after its announcement." Accused of participating

For his part, Tariq Harb, a legal expert, explains that “Article 63 of the constitution talks about arrest, and therefore immunity is limited to arrest for a flagrant felony (the crime punishable by more than five years),” stressing that “this immunity exists in The constitution is restricted and not absolute

Members of the Iraqi parliament enjoyed absolute immunity from all crimes and charges against them, and no judicial or security body has the right to arrest or hold them accountable except after the parliament votes to lift their immunity. He adds that the Federal Court’s decision “revoked immunity and previous cases that were considered immunity and said it was wrong and incorrect,” adding that “most cases of financial corruption are in accordance with Articles (331) and (341) of the Penal Code. Any deputy accused of these two articles

The specialist in legal affairs adds that "many cases under which the arrest of deputies will be issued (...). Twenty deputies may be arrested based on requests to lift immunity that the Supreme Judicial Council sent to Parliament," indicating that "their cases are varied and different from Person to person

The Supreme Judicial Council had requested, in a previous statement issued by its media office, to lift the immunity of (21) deputies accused of administrative corruption during their tenure in executive positions. Harb added, "The immunity has ended for those MPs who were previously asked to lift their immunity, and therefore legal measures are supposed to be taken against them  LINK

************

Samson:  The documents ... the arrest warrant for the arrest and charge of the commander of the Mobilization Operations in Anbar

05/26/2021 13:06:50

 A security force carried out a judicial order to arrest the commander of the Anbar operations of the Mobilization Forces, Qassem Musleh, in a security operation in Baghdad.

According to the arrest and investigation warrant, the Euphrates News Agency obtained a copy of it, as the type of crime and the legal article assigned to it issued against Musleh is "Article Four of the Anti-Terrorism Law."

Mosleh is considered one of the prominent leaders in the popular crowd.  LINK

Samson:  A deputy calls for the parliament to withdraw confidence from 4 ministers and the governor of the Central Bank

15:40 - 05/26/2021

Representative Manar Abdul Muttalib called, on Wednesday, the House of Representatives to question 4 ministers in Mustafa Al-Kazemi's government, and to withdraw confidence from them.

"The ministers of finance, industry, electricity, interior and the central bank governor must withdraw confidence from them, as a result of their negligence in the tasks assigned to them," Abdul-Muttalib said in a statement to the agency.

She added, "The Minister of Interior in his capacity is responsible for security in the country, as well as the Minister of Finance as he is responsible for raising the dollar exchange rate and increasing poverty and unemployment, as well as the governor of the Central Bank in addition to the accountability of the Minister of Electricity and Industry."

And considered that "the electricity and industry of the ministries of the most waste of public money over the past years." And Abdul-Muttalib stressed, "The need for the parliament to take its real role in holding the official accountable, regardless of his job grade."   LINK

************

Samson:  Representative law explains the reason for the Federal Court’s decision to lift immunity

26th May, 2021

 The Parliamentary Legal Committee explained the reason for the Federal Supreme Court's decision regarding lifting the immunity of members of Parliament.

Bahar Mahmoud said in a statement that the Euphrates News Agency received a copy of, that "the interpretation of the Federal Court regarding the immunity of the representative came because some deputies exploited their immunity to commit corruption crimes." She added, "Article 63 of the constitution is clear like the sun and does not need any explanation, as it is understood that it is not possible to arrest a member of parliament except after the approval of the parliament by an absolute majority or the approval of the president during the legislative recess except in the case of a flagrant felony, in this case it is permissible to arrest him without need." Until the approval of Parliament or its president, but the interpretation of the

Federal Court says the opposite! 

She added: We are against the immunity peek for any class of both society members of parliament or ministers or presidencies because immunity in violation of Article 14 of the Constitution, which provides for the equality of citizens before the law, and that there are some members of parliament took advantage of immunity to conduct crimes, especially corruption." Showed Mahmoud, "On the other hand, when interpreting any article, we must refer to the philosophy or wisdom of legislating this article. The wisdom of Article 63 of the Constitution is to facilitate the task of parliament members to carry out their legislative and oversight role and not to facilitate and legitimize the commission of crimes and hide behind them. Therefore, we criticize the exploitation of the privilege of immunity by some members." Parliament to commit corruption crimes."

The Federal Supreme Court decided yesterday to abstain from previous court decisions regarding obtaining the approval of the House of Representatives in all crimes for which members of Parliament are accused, whether crimes are felonies, misdemeanors, or offenses. A crime of the type of felony that is not witnessed, except for the impunity of the members of Parliament, and legal measures can be taken against them directly in the event that any of them is charged with a felony, misdemeanor, or contravention. The court also decided to revoke the previous court’s decision regarding the interpretation of the concept of an absolute majority, as the court decided that the concept of an absolute majority wherever it appears in the constitution is intended to be more than half the actual number of members of the House of Representatives, and what is meant by a simple majority is more than half of the number of members of Parliament present After a quorum is achieved." She pointed out that "with this decision, courts can settle corruption cases faster than before, because most corruption crimes apply to the description of misdemeanor crimes, and resolving them depends on lifting the immunity of the accused person, if he is a member of Parliament."  LINK

Samson:  To Defeat Corruption, Iraq needs E-Government

25th May, 2021 by Michael Rubin

It has now been more than a year since Mustafa Al-Kadhimi assumed Iraq’s premiership. His rise followed nationwide protests as young Iraqis, incensed by corruption at all levels of state, took to the streets to protest.

The youth are a force with which Iraqi leaders must reckon: almost half the country is under 20 years old. They cannot compare their plight to life under Saddam Hussein; rather, they contrast Iraq’s current dysfunction with other oil-rich Arab states whose standard of living, security, and opportunity are greater.

Kadhimi’s mandate was as a transitional leader to undertake difficult economic and electoral reforms, but he has little to show for his efforts. True, Kadhimi was dealt an unfair hand: not only had Adil Abd Al-Mahdi drained the treasury by dispensing civil service jobs as patronage with little consideration of fiscal prudence, but he also had to manage a crash in the price of oil and the COVID-19 pandemic. While Kadhimi made payroll, Iraqis largely assess his administration as an opportunity lost: Kadhimi deferred too much to the traditional powerbrokers whose support he sought as he considered his own ambitions, and failed to seize momentum for substantive reform.

While many diplomats and some Iraqis hope the October 2021 elections might usher in a government capable of tackling systematic corruption, a more realistic assessment throws cold water on such hopes. Established parties will likely continue to dominate Iraqi politics. Whether Sunni or Shia, Arab or Kurd, none has incentive to change a system from which they have so handsomely profited.

Elections are still important but if Kadhimi is committed to reform and wants to cement a legacy that constrains the opportunity of politicians to treat ministries and government services as petty and profitable fiefdoms, he should follow the lead of other countries and embrace E-Government. Despite some efforts to bring basic government services online, the United Nations ranks Iraq in the bottom half of all countries, below Burundi—the world’s poorest country in terms of  per capita income—and not much better than Yemen and Somalia.

In the 1970s, Iraq was the least corrupt Arab state until Saddam’s wars of aggression against first Iran and then Kuwait brought not only military defeat, but also suffocating sanctions. The economic distortion, black market economy, and the United Nation’s own corruption made matters worse. After the United States invaded in 2003, it made matters worse by pouring money into an economy that did not have the institutional capacity to handle it. In 2004, Iraq ranked 129 out of 146 in Transparency International’s Corruption Perceptions Index alongside Kenya and Pakistan. Rather than improve its ratings, its ranking fell below that of the Saddam era. Today, Iraq remains one of the world’s most corrupt countries, well below its former comparative countries and not much better than Congo and Haiti.

Contrast that with Rwanda, a country that hit rock bottom in 1994 after civil war and the anti-Tutsi genocide. It debuted on the Transparency International list in 2005 on par with Lebanon and Iran. Its leadership prioritized anti-corruption in a way Iraq never has. But what really solidified Rwandan anti-corruption efforts was the launch of iRembo, a tri-lingual digital portal for government services.

In 2015, the government launched the website as a payment gateway for five different government services. By 2019, there were close to 100 services available on the platform and Rwandans and tourists alike could utilize either Rwandan francs or U.S. dollars. The webpage handles everything from payment of traffic camera tickets to passport applications to business permits to land transfers, and drains the opportunity for petty corruption.

When I recently had to take a pre-departure COVID-19 test in the Rwandan capital Kigali, I had to sign up and pay $50 for my test ahead of time. When I arrived at the clinic, they had only to see the receipt for my electronic payment that had gone directly into the government’s account; no one at the local lab nor any administrator along the way had any opportunity to collect let alone divert the cash, even if they were so inclined.

Nor is Rwanda unique. After the break-up of the Soviet Union, some of its newly independent constituent countries descended into cesspits of corruption, but others largely escaped. Estonia, for example, puts 99 percent of its government services online and is among the world’s least corrupt countries. Lower e-participation values, whether in Ukraine, Belarus, or Tajikistan, coincide with higher corruption.

On May 1, 2021, the Trade Bank of Iraq launched its mobile money app. While there have been some technical glitches, the concept has caught on. Rasheed Bank has plastered advertisements for their phone app on billboards across Baghdad. It even seeks to go one further than the Trade Bank of Iraq by allowing customers to apply for loans online. Companies like the food delivery service Lezzoo show that Iraqis are ahead of the government on digital technology.

Last year, the Iraqi government released videos to help guide Iraqis through government processes, but these ultimately do little to encourage good governance. Rather, they are like putting up a street sign while neglecting to pave the road. In Iraqi Kurdistan, for example, businessmen complain of forced payments to environmental regulatory bodies and other government departments who use money either for party purposes or to expend on their own offices but not on their stated purposes. Almost one-third of Iraqi households report paying a bribe for public services, and a similar number suggests that the police are corrupt.

E-payment services and a one-stop portal for all government services would eliminate such problems overnight. Corrupt police might prey on citizens, but cannot profit easily if citizens had to pay electronically. While Iraq has one of the most cellular phone-networked populations, only half of Iraqis use the internet. This does not necessarily mean that non-networked Iraqis will be excluded from government e-services. In Rwanda, for example, even rural villages staff iRembo offices where walk-in customers can receive help to access the platform.

Simply put, all administrations from Ayad Allawi’s appointed premiership post-Coalition Provisional Authority to Kadhimi’s transitional administration today have promised to tackle corruption, but none has effectively done so. It would take a relatively small investment on the part of the Kadhimi administration, however, to shift government services to a portal and ensure that fees for all government services, taxes, or fines go directly into the Iraqi government’s account. Inaugurating a portal for all Iraqis would be the type of visible progress Iraqis crave.

Certainly, this would not prevent top-level corruption by Iraqi politicians collecting kickbacks on contracts or utilizing their positions for financial or business gain; that will take televised trials to bring public shame, ridicule, and punishment to those participating in such schemes. It would, however, dry up almost overnight opportunities for corruption at a local level.

This in turn would enable, over the following decade or two, for a new generation of Iraqis to return to the 1970s-era, pre-Saddam cultural attitudes which viewed participation in corruption with contempt. Iraqi politicians are not going to reform themselves; it is time to utilize technology not only to bypass their inaction, but also to allow Iraq to leapfrog ahead of most states in the region in terms of clean government and business environment.   LINK

KTFA Monday Night CC with Frank26 and Team. "CBI Gov Talked On The 20th" 5-24-2021

KTFA:

KTFA Monday Night CC with Frank26 and team

Frank26:  5-24-21.....CBI GOV TALKED ON THE 20th

Playback Number: 605-313-5163  PIN: 156996#

Franks Team is Walkingstick, Petra, MilitiaMan and Eddie

This video is in their opinions

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=_xkEZ1DfBR0

MilitiaMan Monday Evening "New Law on the Table" 5-24-2021

KTFA:

MilitiaMan:  Recovering $1 trillion in stolen money and put back into the coffers will go along way in maintaining the new exchange rate. imo.. Even $150 billion would be nice.. lol ~ MM

Samson:  The President of the Republic presents a bill to recover the stolen money and hold the corrupt accountable

23rd May, 2021

The President of the Republic, Barham Salih, announced, on Sunday, his intention to send a bill to recover the proceeds of corruption through a series of preemptive and deterrent measures, while noting that Iraq has lost a thousand billion dollars since 2003 due to corruption

In a special speech broadcast by state television and followed by Al-Iktissad News, Saleh said, "The draft law on recovering the proceeds of corruption includes pre-emptive and deterrent measures," noting that "the draft law includes subsequent steps to recover the money of corruption

He added that "the law includes support for financial and supervisory institutions and activating their tools," noting that "150 billion dollars were smuggled into the countries of the world through corruption deals

He continued, "Corruption and terrorism are interlinked and perpetuate one another, and because of them, thousands of young people have come out demanding an end to it  LINK

************

Samson:  Representative economics: Social security revives the private sector after its clinical death

14:24 - 23/05/2021

The Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, confirmed, on Sunday, that the approval of the workers' social security law contributes to ending dependence on the government sector, indicating that the passage of the law contributes to reviving the private sector after its clinical death.

Jawdat said in a statement to / information / that "the House of Representatives, during next Saturday's session, will start the (second reading) of the draft law on social security and retirement for workers, which is very important.

He added that "all workers in the government sector came to him in order to retire, and in the event that retirement is provided by the private sector, the young man will go to self-employment without pressure on the public sector."

Jawdat indicated that "raising the price of the dollar contributed to the reduction of manpower and recession, and that the approval of the insurance law reduces that pressure and creates an opportunity for labor in the private sector with the government and revives the first."  LINK

***************

MilitiaMan:  The agenda looks to be stacked for this next Saturday.  All items seemingly to be oriented around topics that have the private sector and the citizens of Iraq in mind which bleeds over to the neighboring countries, as the are major trading partners.

A key point that has my interest is in the above they mention amendments or new laws. Well, if we look at the laws two stand out to be very very very important. The Federal Oil and Gas Law (FOGL) and the Iraqi National Oil Company Law (INOC). Those two are extremely important to the future of the country of Iraq and her citizens.

What has me focused, is they are mentioning new laws or possibly just one. There is a report out by an expert on the FOGL and INOC laws that have serious implications that if not sorted by the HoR and or the CoM in a very diligent and professional manner to protect the country's hydrocarbon wealth in serving Iraq and her citizens could be catastrophic. But, if done properly could have profound impacts to the good of the Country and her people for future generations.

My view from the report is that there is a need to quickly resolve the matter with utmost urgency and necessity to complete the or a "Final Version" of the FOGL.

The final version whether being an amendment to the 2007 FOGL or a "New Law" altogether is to be determined.

Report suggest the 2007 amendment is not likely. But, I suspect that if the report has been reviewed by the HoR and CoM and it is taken seriously, the "New Law" may very well be on the table this weekend.

Both the INOC and FOGL are interrelated. From the looks of it the FOGL has been sorted, as noted in the report and articles in the forum. The INOC is, however, needed to be voted on for the final version of the FOGL to take the rightful position to save the wealth of the country.

The country will need this to usher in the private sector, as well. The private sector is to be the focus going forward not the government enterprises. The streets are demanding it.

 I would not want to be a member of the HoR that doesn't show up to vote for the people. It would not be lost on anyone and could have serious repercussions from not showing up or not voting in favor. Especially as the recent devaluation is hammering home 30-100% increases in pricing for goods and services.  Something the street is very aware of.

So the likely hood of the "New Law" final version being on the table appears to be the course that is being taken. We will have to wait to see what they HoR accomplishes. Regardless the interests of the Iraqi's are at stake. imo ~ MM

https://www.iraq-businessnews.com/wp-content/uploads/2021/03/FOGL-IBN-March-2021-b.pdf

Samson:  Deputy: The upcoming parliamentary sessions will include voting on these laws

23rd May, 2021

Salam al-Shammari, the deputy of the Saireon Alliance, revealed, on Sunday, the laws that will be voted on in the upcoming parliamentary sessions.

Al-Shammari said, in a statement that Mawazine News received a copy of, that "the upcoming sessions of the Council will include voting on important laws in order to leave positive imprints for the work of the current council." He said in a press statement that:

"Many laws have been completed by the relevant committees, whether an amendment or new laws, and they are awaiting the inclusion of the Presidency of Parliament for it in the coming sessions for the vote."

Al-Shammari added, "Among the most important of these laws is the amendment of the provincial councils law, the criminal court law, oil and gas, the Federation Council, in addition to other laws." He pointed out, "The necessity of attending the sessions and achieving the required quorum in order to pass laws and continue the oversight work of Parliament in the service of the public interest."   LINK

Frank, Eddie and KTFA Members Monday Afternoon 5-24-2021

KTFA:

Clare: INCOMING REPORT FROM EDDIE:

Eddie:  Wow Mr Frank Erbil and Baghdad budget agreement will be implemented!!!!

Frank26:  I know Eddie we saw those three days ago and I’m rather excited because in my opinion I believe this is related to the monetary reform as well because Kurdistan did not want any more delays

Eddie: Mr. Frank you were right about the 20th and we are kind of excited here especially with disagreement on the budget because it seems like the Kurds we’re pushing for the HCL

Frank26: Yes Eddie and I told you everything waits for the new exchange rate but I think the waiting is coming to an end

Eddie Mr. Frank this is our oil and gas deal our HCL isn’t it

Frank26:  Yes Eddie and the next thing you will receive is purchasing power in your currency oh and by the way stop and think about it Iraq central bank has added a ridiculous amount of gold and other assets to back up their currency and it’s rather insulting to think that this mountain of gold is for a stupid program rate

The Kurds is what we were looking for but I also want you to take note China is not as stupid as they are cruel to see them pour in billions to get oil from your country because they cannot get it from Iran is only going to make your Country very rich and that’s just one of the endless countries that are coming into your economic reform and all because the monetary reform was done correctly properly and Proficiently with the Fab four and the whole international world knows this and loves it

Take care Eddie and yes the governor of the CBI on the 20th completed everything

Eddie Good night Mr. Frank we will report tomorrow

Frank26:   END...FRANK26

************

Samson:  Their demands have not been fulfilled ... The demonstrators in Baghdad are preparing to take to the streets again

24th May, 2021

A correspondent of Mawazine News stated, on Monday, that protest activists and coordinators in the country are gathering for "large" demonstrations, which are scheduled to start tomorrow in the capital, Baghdad.

Our correspondent said, "The activists and coordinators have been gathering for days to hold a large demonstration in Baghdad on Tuesday, and they considered this demonstration a renewal in the protest movement that began on October 1, 2019."

He added, "The protesters have identified three points for the demonstration, which are the Al-Firdaws, Al-Tahrir and Al-Nisour squares in the capital, Baghdad."     LINK

Jerry1971:  ITS A GOOD PRESSURE TACTICS FROM THE IRAQI CITIZENS ON THEIR GOVT AND CORRUPT POLITICIANS WHO HAVE NO FEELING OR CONSIDERATION FOR THEIR CITIZENS INTERESTING WEEK THOUGH HCL IS ON THE CARDS FOR APPROVAL BETWEEN KURDS AND BAGHDAD BY THIS WEEK END THESE PROTESTS WILL KEEP THE GOVT AND PARLIAMENT ON THEIR TOES TO GET THE REQUIRED LAWS PASSED URGENTLY FOR THE ECONOMIC AND FINANCIAL REFORMS TO TAKE PLACE IMO.   

************

Samson:  Member of Parliamentary Finance: Parliament intends to question five ministers

05/24/2021 11:57:52

A member of the Parliamentary Finance Committee said that the House of Representatives intends to question five ministers.

 In a press statement, Jamal Cougar said, "Five ministers are scheduled to be questioned during the upcoming parliamentary sessions, according to the words of Parliament Speaker Muhammad al-Halbousi," explaining that "the ministers are electricity, finance, agriculture, industry, planning or higher education."

And that "among the axes of the questioning of the Minister of Finance under the dome of Parliament is related to the Central Bank of Iraq, as well as the exchange rate of the dollar against the dinar, as well as the large general budget number, in addition to the issue of neglecting their contracts breached." And the Iraqi Ministry of Finance confirmed earlier, that the 2021 budget did not include any allocations for those whose contracts were canceled.

Earlier, a number of deputies close to the crowd indicated that the return of those whose contracts had been canceled from the popular crowd to service was included in the 2021 budget, with two signs to confirm the clause of adding 30,000 job degrees to return their contracts with canceled members of the Popular Mobilization Forces.

It is noteworthy that the Central Bank of Iraq has resorted to reducing the price of the dinar against the dollar, in order to reduce the deficit in the federal budget for the year 2021, but with the rise in oil prices, expectations have spread about raising the exchange rate of the dinar against the dollar again.

LINK

Jerry1971:  THANK YOU SAMSON! ... THIS INFORMATION HAS ALSO BEEN WHAT WS & FRANK HAVE SHARED WITH US ON THE CC'S....imo

THE KURDS ARE NOT GOING TO LEAVE MONEY ON THE TABLE WITH AN INCREASE IN OIL PRICES FROM THE BUDGET PRICE OF OIL (RECALCULATE)... AND  MAYBE THE PERCENTAGE TO THE CITIZENS IS ALSO BEING RECALCULATED TO INCREASE ..WHO KNOWS... BUT WS & FRANK TOLD US THERE ARE MANY PARTS TO THE HCL... 
IF ADJUSTMENTS AND FINISHING TOUCHES ARE GOING ON NOW ...THINGS ARE BEING WRAPPED UP IN SHORT ORDER.. IMO….AND AFTER FRANK & EDDIE’S REPORT LAST NIGHT! Boom!!

Samson:  Karbala: Overthrowing "corrupt" government employees and drug dealers

24th May, 2021

A security source in Karbala stated, on Monday, that government employees "corrupt" were arrested in a real estate department, as the provincial police overthrew a network specialized in drug trafficking in possession of more than 2000 pills.  

The source told Shafaq News that a team from the Integrity Investigations Office in Karbala governorate, accompanied by a security force, raided, today, the Real Estate Registration Department and arrested a number of employees accused of taking bribes from the auditors after receiving numerous complaints against them.

Also in the governorate, the detachments of the Department of Narcotics and Psychotropic Substances managed to arrest a gang specialized in drug trafficking, consisting of three people intending to trade these pills inside the city, according to a statement issued by the Karbala police and received by Shafaq News.

According to the statement, the detachments of the Narcotics Affairs Department monitored the three persons and tracked their movements until they were seized in possession of a large quantity of 2432 narcotic pills, indicating that they were seized according to a seizure report. The statement indicated that the three persons confessed to trading in narcotic substances, bringing them from outside the governorate and selling them inside Karbala, confirming their referral to the judiciary. LINK

*************

Don961:  The US Central Bank is intensifying its efforts to explore a digital version of the dollar

67 Economie 05/24/2021 21:04 mum Baghdad Today- Follow up

US Federal Reserve member Lyle Brainard said on Monday that the US central bank is stepping up efforts to explore the potential development of a digital version of the dollar.

This came at a time when an increasing number of consumers are using digital payments and while other governments are moving forward with issuing digital currencies.

As the world's largest holder of reserve currency, Brainard added, the United States should be actively involved as digital payments become more common and other countries develop digital currencies that can be used to send money across borders.

She stated that the Federal Reserve is stepping up its research and public participation on a digital version of the US dollar.

She explained that the central bank must also anticipate changes in consumer trends and ensure that Americans have "safe cash from the central bank" as digital payments become more popular.   link

"Word on the Street" by MilitiaMan Saturday PM 5-22-2021

KTFA:

Samson:  A Kurdish bloc reveals a preliminary agreement that expedites the settlement of the Iraqi oil and gas law

22nd May, 2021

The Kurdistan Democratic Party Parliamentary Bloc revealed, on Saturday, a preliminary agreement by the political forces to settle the oil and gas law in Parliament, before the end of its session.

The representative of the bloc, Diyar Barwari, told Shafaq News, that "the oil and gas law is one of the important laws in the House of Representatives, and there was a serious intention to head the parliament to vote on the law in previous sessions, but the postponement came as a result of Parliament's preoccupation with the general budget law."

Berwari added, "The political blocs, including the Kurdish one, submitted their observations on some articles of the law to the Parliamentary Oil and Energy Committee," noting that "there is confirmation of the remarks that they do not violate the constitution."

Berwari noted, "There is an initial agreement by the political forces to resolve the oil and gas law before the end of the parliamentary session, with a real desire to vote on the law during the upcoming sessions of the House of Representatives."

The ministries of oil and energy in the governments of Erbil and Baghdad are keen on the need to expedite the passage of the oil and gas law because of its importance in organizing the management of oil and gas wealth in Iraq.    LINK

***********

MilitiaMan:  If word on the street is out (I understand that it is.) that today they hammered out the HCL, then they may have the mechanism that we all await, as do those on the street.

Lets not forget that the digital transformation is a priority. They told us that the electronic taxation is to be in the coming days and that was a couple of days ago already. 

The UST had their meetings on the Taxation Globally themselves days ago, too. We were told that the Kurds would be in Baghdad last Wednesday only to be postponed until next week.. Well that starts tomorrow or in a couple hours real close. If the street is excited then I am too.

We have not seen or heard of a Delay in the ISX opening to date. So if the Kurds got their mechanism to sort the HCL then we can surely hope the ISX will have a similar mechanism, as will the borders and outlets by land, sea and air will have, too.

They didn't tell the world that story about the Dutch "Disease" in support of changing the IQD exchange rate to stay at a program rate for the next 4 years! That is a load of manure! The citizens would not be happy in and the streets knowing that to be a fact! They would be burning the place down about now instead!! imo

The CBI did not tell us they have $5,828,905,192.00 in gold valued reserves and that it equates to 96.4 tonnes of gold as of Friday's close at $1,880.70 oz, which is only 8.1% of Iraqs hard currency assets, in which is estimated to be $77,790,697,685.82 real close. That is hard currency reserves, not even to mention oil reserves, LNG reserves, sulfur, phosphorus, etc..

At a program rate that damages the citizens? Utter nonsense for those that suggest they will stabilize the exchange rate at 1450IQD for years to come and lets make it be clear it wasn't the CBI suggesting they would either. It was the parliament that said it. It may have been those that are looking at losing their immunity? I don't know, but, we all know that the CBI is the one that changes the exchange rate. It is their job only.

The CBI devalued and the UST told us / them they could not only devalue but the can revalue too.. The CBI devalued on 12/20/2020 and nothing was said about it in the Gazette that I am aware of.  Thus, they can do it again with out the gazette being notified imo.

The 2021 budget has not been opened yet, so until they open that we will need to be patient to see what comes of it. Imo, that won't be long now. As from the above they have the HCL apparently done and dusted.

An open market is an international one. One where countries have rules and need to follow compliance procedures. Just as they need to be Article 8 Compliant with the IMF. That is where all the meetings with the hundreds of bankers and central bankers were done the last couple weeks. The meetings was about digitally clearing foreign exchange and the compliance issues that go along with the new systems at play.~ MM

************

At a time when the Central Bank of Iraq seeks to enhance its global share of gold, Iraq has maintained its fifth position in the Arab world and 38 in the world in yellow metal reserves, according to the latest statistics of the World Gold Council, with a reserve of 96.4 tons (8.1 percent of other hard currency reserves). In this regard, banking expert Abdul-Hussein Al-Mandhari told Al-Sabah: “After the hypothetical meeting recently held between the governor of the Central Bank and the management of the World Gold Council, the need to enhance Iraq's possession of its gold reserves,” indicating that the aim of this step is “to ensure stability The exchange rates of the Iraqi dinar after its depreciation against the US dollar as a result of changing the exchange rate

MilitiaMan:  One doesn't enhance a global position in Gold when devaluation is on their agenda. It is also silly to think a Government would allow no adjustments to an exchange rate in light of potential unknown shocks that may or may not arise both good or bad!

The CBI would need the ability to act and not be restrained in times of need. Now is another time of being in need! Read the Why embark on Treason and think about the pressure.. Then look what Tamimi is talking about transformation.

That was what the Arab Digital Summit was about and it mirrors the UST!! The digital transformation that links taxation is also being mirrored by the UST, Iraq and the ME Regions.. lol  imo

Lets see if the ISX opens in an international sense in the coming hours. I was reminded by Pompey Pete today that the ISX CEO was asked in late 2018 why they have not opened the new ISX exchange, he said something along the lines of, "the CBI has not given us the rate yet." The ISX has been down for some time and has had plenty of time to clear all trades by now. Plenty of time!!  imo ~ MM

----------------------------------

Why embark on treason?  LINK

-----------------------------------

Al-Tamimi: Iraq has party visions that are narrow based on interests. We call for diversification

Al-Tamimi stressed "the necessity of transforming the Iraqi economy to the open market, diversifying the state's financial resources and not relying on a single financial resource, which is crude oil, in order to avoid falling into crises that may occur due to global political, economic and health fluctuations."LINK

**

THE ARAB MONETARY FUND PUBLISHES A DOCUMENT ON “OPEN BANKING REGULATORY PRINCIPLES” IN THE FRAMEWORK OF THE ARAB REGIONAL FINTECH WORKING GROUP   LINK

MilitiaMan:  Fintech is Block Chain oriented. It is digital. Fast, transparent and sophisticated that is being embraced around the world.!! Get ready.. Nothing is going to stop it.. imo.. ~ MM

Parliamentary Committee: The dollar will not return to its previous price until after 4 years LINK

Samson:  Iraq joins two international agreements

22nd May, 2021

The Ministry of Foreign Affairs announced, on Saturday, that Iraq has joined two international agreements, while it disclosed the type of the two agreements.

In a statement received by Mawazine News, a spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, said, "Iraq has joined the two agreements on safety and health in the world of agriculture No. 184 of 2001, and the identity of sailors No. 185 of 2003 with the International Labor Organization."   LIN

************

Samson:  Iraq joins two new conventions in the International Labor Organization

22ND May, 2021

Iraq joined the agreements on safety and health in the agricultural world and the identity of seafarers at the International Labor Organization.

This came during the participation of the Permanent Representative of the Republic of Iraq to the United Nations Office in Geneva, Ambassador Abdul Karim Hashem Mustafa, in the virtual ceremony that was held on Friday.

According to a statement issued today by the Iraqi Foreign Ministry, received by Shafaq News, during the ceremony, "the documents of the accession of the Republic of Iraq to the International Labor Organization Agreements on Safety and Health in the World of Agriculture No. 184 of 2001, and the identity of sailors No. 185 of 2003 and its amendments, took place after Ratification of the Iraqi Council of Representatives on these two agreements.

According to the statement, the permanent representative referred to the great importance that the Iraqi government attaches to the work and the role of the International Labor Organization, noting that "accession to these two agreements will have a positive impact on the situation of workers in the agricultural and marine sectors."

The permanent representative explained, "The Iraqi government is continuing its steps to do all that is required to preserve the rights of workers, improve their conditions and advance the Iraqi labor market in a manner that reaffirms Iraq's obligations to decent work in accordance with the rules and standards of the International Labor Organization."

He pointed out that "Iraq actively participates in the preparation and amendment of laws, conventions and recommendations in the International Labor Organization Board of Directors in its capacity as an alternate member for the period 2017-2021 and that he has re-nominated for the same position within (the Asia-Pacific Group) during the upcoming elections of the organization."

Hashim added, "The permanent mission of the Republic of Iraq in Geneva will continue to actively participate in the activities and activities of the organization and implement its tasks as a coordinator between the International Labor Organization and employers' and workers' organizations involved in its work and between the Ministry of Labor and Social Affairs in the Republic of Iraq and other relevant parties."

For his part, the Director-General of the International Labor Organization, Guy Ryder, welcomed Iraq's accession to these two conventions, and affirmed that the two agreements "will have a positive impact in promoting workers' rights and the local labor market."

Ryder praised, "the important role that Iraq plays in the work of the organization and its being one of the most Arab countries that accede to its conventions, which indicates Iraq's interest in the status of work and workers and the great efforts it is playing in this field, bringing the total of the agreements that Iraq joined in 70 agreements after depositing documents." Accession to these two agreements."

At the end of the ceremony, Ryder officially signed the "receipt of the documents of Iraq's accession to the two agreements above, provided that Iraq is provided with the acknowledgment of receipt at the earliest opportunity," according to the statement.  LINK

************

Samson:  Why embark on treason?

17:56 - 20/05/2021 - Books / Dr. Najem Al-Dulaimi

First..Anyone who offers, in a planned and deliberate manner, the assassination of the national currency, the Iraqi dinar towards the US dollar, and implements the directives of the International Monetary Fund and the World Bank to crush the poor, the needy, the persecuted, the employees, the retired, the merchants and the earners ..., he is assassinating Iraq and the Iraqi people, and as he sabotages And the destruction of the national economy ..., and this constitutes the summit of high treason and organized corruption.

 What the executive and legislative authority in general and the failed minister Abdul Amir Allawi, the brutal and extremist liberal, did, as well as the Parliamentary Finance Committee and the silence of the Economic and Legal Committee ... ... in the Iraqi parliament, all this and others are illegal and unfamiliar and sabotage acts ... .., that all this and others have not been undertaken by the executive and legislative authority ... Without the approval of the leaders of the political parties, blocs, and influential political currents today, in power.

Second..The Iraqi people, their national, progressive, and leftist political forces, mass and professional organizations, and national, progressive and left-wing personalities must realize that the executive and legislative authority is an executive and obedient tool in the hands of the leaders of the parties, blocs and political currents in power today

And therefore all disasters and the spread of financial and administrative corruption and organized sabotage The national economy and Iraqi society, the growing rates of unemployment, poverty, misery, famine, organized crime, drugs, suicide and deliberate killing, especially among the youth, and organized sabotage of the industrial and agricultural sector, education and health, and the deepening of the social and economic gap in favor of the ruling mafia, criminal and parasitic elite, and the growing rates of internal and external indebtedness and the tightening of dependency and backwardness of regional and international powers and institutions International organizations, including the Monetary Fund, the World Bank and the World Trade Organization, are borne by the leaders of influential parties, blocs and political currentstoday in Occupied Iraq.

Third ... the parasitic, thief and backward quotas system is an illegal and illegal system according to the data of the last parliamentary elections in 2018, and that all decisions and laws ... that were taken by the ruling authority during the period 2018-2021 are illegal and illegal.

Fourth ... The national, principled and frank stance of the vast majority of the Iraqi people requires a boycott of the upcoming parliamentary elections. It is a lean, failed and corrupt play par excellence, because this meager play will not present anything new to the Iraqi people, as it will perpetuate the abhorrent approach of quotas and the three sectarian components. The Shiites, Sunnis and Kurds are all in agreement on the survival of the worst system in modern Iraq’s history, which is the abhorrent political, sectarian and national quota system that has failed par excellence and is supported regionally and internationally. Abhorrent.

Fifthly, that any political forces that participate in the upcoming parliamentary elections claim patriotism, progressive, and leftist ... Participation in the upcoming parliamentary elections is considered a betrayal of the Iraqi people, and the political forces must not hold the stick in the middle because this position is an opportunistic, unprincipled and unpatriotic position

And the Iraqi people must realize that suspending any political party from not participating in the upcoming parliamentary elections is a centrist position and irresponsible, and for any political party to declare its explicit and principled position on the upcoming parliamentary elections, boycotted or participating in the meager play of the Iraqi people, issuing an official statement and withdrawing from the election organizing committee, any of the commission, and this is announced to the people, and without that, which party does not It does so. It laughs at the Iraqi people in general and its members in particular.   LINK