Some Saturday News posted by KTFA Members 9-17-2022

KTFA:

Samson:  Sri Lanka is considering the possibility of joining the Russian "Mir" system

17th September, 2022

Sri Lanka's Minister of Transport, Pandula Gunawardana, announced that his country's authorities are considering the possibility of joining the Russian payment system "Mir", and negotiations are underway through central banks.

“Our embassy is looking into this issue because I know the Russians want to facilitate card payment in Sri Lanka,” Gunawardana said in a press statement.

He added that the Sri Lankan authorities want Russian tourists to be able to pay with the Mir card.

He continued, "In the near future, there may be progress in this area. Negotiations in this regard are taking place with our central bank. When we obtain approval from the bank, we will be able to announce that."   LINK

The Iraqi Stock Exchange suspends its sessions tomorrow, Sunday

17th September, 2022

Today, Saturday, the Iraqi Stock Exchange announced the suspension of stock trading sessions on Sunday.

A statement to the market received by "Dijla" stated that "according to the decision of the Council of Ministers to declare an official holiday for one day on the occasion of the Arbaeen of Imam Hussein, the market will not organize the stock trading session for tomorrow, Sunday."

The Prime Minister, Mustafa Al-Kazemi, announced the suspension of official working hours, tomorrow, Sunday, on the occasion of the fortieth visit of Imam Hussein.  LINK

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

Samson:  World Gold Conference in Colorado

17th September, 2022

Tomorrow, the Gold Forum Americas Conference, kicks off in the United States and will continue from September 18 to 21.

The World Gold Council published a statement on its website, followed by (Al-Oula News) that the event, which is hosted in the month of Eiloa every year in Colorado, represents the most prestigious investment forum in precious metals stocks in the world.

The statement added that the Denver Gold Forum presents seven-eighths of the world's publicly traded gold and silver companies when measured by production and reserves.

The invitation event will be attended by the world's leading precious metal investors, as well as general institutional investors.  LINK

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

Samson:  The arrest of a former official on charges of seizing land in the Kurdistan Region

17th September, 2022

Kurdistan Region Parliament member, Ali Hama Salih, announced on Saturday the arrest of the former director of the Bakirjo district, on charges of appropriating land in the region.

Saleh said, in a statement received by Shafaq News Agency, that "the former director of Karago district, called (Luqman), was arrested after filing several complaints against him during the past two years."

He added, "The accused seized lands in the name of the Peshmerga forces and the anti-terrorist forces in the areas of (Bakergo and Rabrin), and seized thousands of lands, even schools, health centers, kindergartens and homes."  LINK

Clare:  Economist for / NINA /: The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development

Saturday 17 September 2022 

The economic expert, Jalil Al-Lami, confirmed that the Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development.

He told the National Iraqi News Agency ( NINA ) that the central bank is responsible for managing the country's foreign cash reserves, as the central bank, within the framework of this task, influences the credit by controlling the movement of capital inflows and abroad and providing foreign exchange to serve the requirements of monetary stability and economic development.

Al-Lami added: This reserve consists of: Foreign exchange papers: represented in current and fixed deposits in the main international currencies and government bonds held by the resident country in foreign currencies for the benefit of the country over other countries. Which is estimated at more than (85) billion dollars. Gold: It is the state’s reserve, which is in the form of bullion or coins in the vaults of the International Monetary Fund.

He explained: As for the third reserve, it is the special drawing rights: it is the new reserve and it is used to meet the deficit in the country's traditional reserves and drawing rights are granted to each of the member states of the International Monetary Fund. So that the country's share is proportional to the size of that country in the International Monetary Fund.

Al-Lami continued: These rights are used to settle payments between member countries of the International Monetary Fund. Therefore, central banks, including Iraq, seek to buy quantities of gold from time to time. The most recent of which is Iraq’s purchase of a new amount of gold, amounting to approximately (34) tons, bringing Iraq’s balance to (134,4) and thus achieving an increase rate of (35%) on the Iraqi stockpile, which made its classification become the fourth Arab and thirty-three globally. This increase is within the framework of a strategy The Central Bank to manage its assets in order to achieve the highest levels of stability and the ability to face local and international economic changes.

The Gold Promise: One of the most important assets held by central banks and international financial institutions. A haven from in conditions of uncertainty. Because of its acceptance at the international level.

The Central Bank had announced a rise in foreign reserves to more than (85) billion US dollars.

And the bank indicated in a statement that its foreign reserves amounted to more than (85) billion US dollars, which is the highest level achieved by the Central Bank since 2003.

He continued that gold reserves also exceeded (130.4) tons, worth (7) billion dollars, bringing Iraq to 30th place globally and 4th in the Arab world.   LINK

Some "International News" Posted by Samson at KTFA 9-16-2022

KTFA:

Samson:  The Shanghai Cooperation Summit kicks off in Uzbekistan

16th September, 2022

Friday morning in the Uzbek city of Samarkand, the work of the summit of leaders of the countries of the "Shanghai Cooperation Organization", which is the first summit to be held in attendance since the beginning of the Corona epidemic, began.

Before the start of the summit meetings, the leaders of the eight countries (Russia, China, India, Pakistan, Kazakhstan, Tajikistan, Uzbekistan and Kyrgyzstan) took a group photo.   LINK

Samson:  With the participation of Arab countries, the Shanghai summit issues the "Samarkand Declaration"

09/16/2022 14:42:24

At the conclusion of the meetings, the leaders of the Shanghai Cooperation Organization issued a statement "Samarkand Declaration", which included a number of regional and international points and issues.

Here are his main points:

The leaders of the Shanghai Cooperation Organization announced that they would not allow interference in state affairs under the pretext of combating terrorism.

The leaders of the countries of the Shanghai Cooperation Organization condemned terrorist acts all over the world and expressed their determination to continue working to curb terrorism and effectively eliminate the factors of its spread.

- Rapid settlement of the situation in Afghanistan is one of the most important factors for enhancing security in the SCO region.

The member states of the Shanghai Cooperation Organization support the non-proliferation of nuclear weapons in the world and the continuation of nuclear disarmament.

Expanding the Shanghai Cooperation Organization and deepening cooperation with international organizations, which would contribute to ensuring security and stability in the region.

The world is now witnessing global changes accompanied by the exacerbation of conflicts and crises and a serious deterioration of the international situation as a whole.

The member states of the Shanghai Cooperation Organization stress the need to further strengthen international cooperation in combating the spread of the coronavirus.

The Shanghai Cooperation Organization countries work to promote an open multilateral trading system based on the principles and rules of the World Trade Organization, and oppose procedures

Protectionism and trade restrictions threaten the global economy.

The member states of the Shanghai Cooperation Organization are committed to making accurate assessments regarding the current international agenda, and advocate for a more just and shaping world order.

- A common vision of "a community united by a common destiny for mankind".

- The member states of the Shanghai Cooperation Organization referred to the initiative of the Russian Federation to conduct regular activities to identify and respond to emergencies related to the sanitary and epidemiological situation.

The document emphasized that the unilateral application of economic sanctions, other than those adopted by the United Nations Security Council, contradicts the principles of international law.LINK

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

Samson:  Putin: We are optimistic about "Arab friendship" in the Shanghai Organization

16th September, 2022

Today, Friday, Russian President Vladimir Putin touched on the role of the organization and a number of regional and international issues

Putin said, "The Shanghai Organization is open to cooperation with everyone and to help solve the world's growing energy and food problems," noting that 90% of Russian food exports go to Asia, Africa and Latin America

He added that "Moscow is ready to give 300,000 tons of Russian fertilizers accumulated in European ports free of charge to developing countries," calling on the United Nations to influence the European Commission's decision "to lift restrictions against developing countries, to ensure that Russian fertilizers reach these markets

The Russian President revealed the intention of the Shanghai Organization to "grant Egypt, Qatar, the Emirates, Kuwait and Bahrain the status of a dialogue partner," explaining that "the reputation of the Shanghai Cooperation Organization is increasing, and it is one of the largest international organizations   LINK

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

Samson:  Iraq tops the list of oil suppliers to India within a month

15th September, 2022

Data from industrial and commercial sources showed that Iraq retained the first place in the list of oil suppliers to India last August, while it came in second place, according to data published by "Reuters".

According to the data, 863,950 barrels per day of crude were shipped from Saudi Arabia to India, the third largest importer and consumer of oil in the world, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 855,950 barrels per day.

Despite the rise of Saudi Arabia, the share of oil from the Organization of Petroleum Exporting Countries (OPEC) to India fell to 59.8%, the lowest level in at least 16 years as India cut imports from Africa.

India became the second largest buyer of Russian oil after China, after others reduced their purchases following Moscow's invasion of Ukraine in late February.

New Delhi has not publicly criticized Moscow for its "special military operation" in Ukraine. Prime Minister Narendra Modi is scheduled to meet with Russian President Vladimir Putin on Friday on the sidelines of the summit of the Shanghai Cooperation Organization, a regional security organization.

India's monthly imports of Russian oil continue to decline after hitting a record in June, as Moscow reduced the cuts offered on its oil.

Also in August, the UAE remained India's fourth largest oil supplier, while Kazakhstan displaced Kuwait to become fifth.  LINK

Samson:  Lebanon's banks close their doors after an unprecedented wave of incursions

09/16/2022 14:17:17

 Lebanese banks decided, on Friday, to close their doors, after a wave of attacks by depositors wishing to extract their savings.

Two bankers told Reuters news agency that Lebanese banks would be closed. For three days next week due to security concerns amid an increase in attacks by depositors.

A member of the Association of Banks, Tanal Sabah, explained that an emergency meeting was held against the background of the intrusions into banks by depositors. He said that the banks will not open their doors, Monday, while he has not yet determined conclusively the length of time during which the banks may remain closed.

Sabah said: "Until things settle down, we don't know the time yet, but until this chaos is controlled, whose effects are no longer confined to banks only, we are looking into the possibility of moving on the streets," referring to the association members' fear for their personal safety. 

Today, Friday, Lebanon witnessed the storming of at least 6 banks in different parts of the country, amid reports of multiple other attacks. 

In Ghazieh, in the south of the country, a man carrying a weapon broke into the "Byblos" bank and poured gasoline into the branch, threatening to burn it, as he was seeking to obtain his frozen savings. The man got about $ 19,000, gave it to someone, and then turned himself in to the security forces.

Reuters quoted a security source as saying that the weapon he had was believed to be a toy. 

In a second similar incident a few hours later, another gunman took hostages inside the BLOM Bank (Blom) New Road branch in the capital, Beirut, where he was also aiming to get his money. LINK

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

Samson:  Lebanese Finance Minister: Inflation rates exceeded 100%

16th September, 2022

The Minister of Finance in the Lebanese caretaker government, Youssef Al-Khalil, announced that the inflation rates in the country exceeded 100%, expecting that the year 2023 will be the pioneering year for structural reform in Lebanon

During the general parliamentary session to approve the 2022 budget, Al-Khalil said: "Inflation rates exceeded 100%, and we suffer from economic stagnation for more than 4 years. On this basis, this emergency budget came to correct the impact of distortions resulting from successive crises

He stressed that “the budget must be attached to reform steps,” noting that “the deterioration of the exchange rate and its plurality, the public finances incurred significant losses in terms of revenues, which fell from 22% as an average pre-crisis rate, to 10% of GDP in 2021, while The internal revenues remain the most prominent source of financing expenditures due to the inability to resort to the financial markets after failing to pay the dues to the creditors

He pointed out that "in light of the deterioration of the exchange rate as well and with the shrinking of the available financing possibilities, public spending declined from about 30% during 2018-2019 to 12% of GDP in 2021, the primary spending, i.e. spending outside debt service, including salaries, wages and expenses, declined. operational rates from 20% before successive crises to 9% of GDP in 2021, which negatively affected the productivity of work in public administrations and their ability to meet the needs of citizens and secure public services in the most appropriate manner

He added, "More than eight months have passed since the year 2022 and the budget has not been approved, and therefore the imports that were expected in the draft budget for the year 2022 will not be received in full due to the failure to activate the corrective measures desired in the budget articles," stressing that "the unification of the exchange rate at the level of the economy." Overall, it is the pillar of the recovery and stability policy, and the adoption of close exchange rates, in terms of revenue collection and spending, in this context and ensures the control of the fiscal deficit  LINK

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

Samson:Russia And China Conduct Joint Patrols In The Pacific

15th September, 2022

The Russian Defense Ministry announced, on Thursday, that the Russian Navy and its Chinese counterpart are conducting joint patrols in the Pacific Ocean.

A statement by the ministry on the Telegram application said that the two sides are carrying out joint tactical maneuvers and military exercises that include the use of artillery and helicopters.

She added that "the tasks of the patrols include strengthening maritime cooperation between Russia and China, supporting peace and stability in the Asia-Pacific region, monitoring the coasts and protecting Russian and Chinese maritime economic sites."  LINK

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

Samson:  The "Buna" Platform For Arab Payments Holds The Thirty-Sixth Interactive Workshop Remotely To Share The Most Important Achievements And Developments During The Recent Period

16th September, 2022

The workshop hosts leading banks from the United Arab Emirates and the Kingdom of Saudi Arabia

A wide presence that includes more than 200 participants from representatives of central banks, regional and global financial and banking institutions

Abu Dhabi, September 15, 2022: Today, the Buna platform (the payment system operated by the Arab Payments Clearing and Settlement Corporation, owned by the Arab Monetary Fund) is holding a "remote" workshop to share the most important achievements and developments during the recent period.

The workshop program includes a dialogue with officials from both Abu Dhabi Commercial Bank from the United Arab Emirates and the Arab National Bank from the Kingdom of Saudi Arabia to share their practical experience in using the platform to implement cross-border payments. The workshop also includes briefing the participants on a number of important topics about what the platform has achieved in the technical and regulatory fields and the progress in the field of joining banks and their practical use of the platform.

The workshop hosts more than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and beyond.

On this occasion, Mr. Mahdi Manea, CEO of the Corporation, said: “We continue to show progress on several levels and based on four main pillars for Bani which are the satisfaction of the platform users from participating banks, operational and technical flexibility, our compliance with regulatory standards and international principles, and our ability to the sustainability of our business, and I am happy today that we are in a position to share tangible achievements on all these levels during this edition of the monthly workshops.”

He added: “Buna is not just another option to implement payments, but rather represents a transformative solution to improve the effectiveness of all current and future payment options, by enabling banks in the Arab region and the world to provide real value to their institutional and individual customers in the form of flexible and effective cross-border payment solutions for various types of use. In multiple currencies, securely, reliably and in line with international best practices.”  LINK

KTFA Wednesday Night CC "Sadr Advances Iraq" 9-14-2022

KTFA

Wednesday Night KTFA CC

Frank26:  9-14-22……SADR ADVANCES IRAQ

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 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=l07Ga-a6A68

"Banking and Financial News" Posted by Samson at KTFA 9-14-2022

KTFA:

Samson:  The Central Bank announces international cooperation with Iraqi banks

14th September, 2022

Today, Wednesday, the Central Bank of Iraq announced a work plan to link and open accounts between Iraqi banks and some international banks

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said in a press interview, which was seen by "Al-Ghad Press", that "work is currently underway with a number of sober international banks to prepare the necessary ground for banking cooperation with Iraqi banks that have outstanding performance and have a credit rating from accredited rating agencies

He added that "work is underway to study the requirements and proposals for the subject, which were submitted by some international banks for the purpose of opening accounts for Iraqi banks and opening new horizons for international cooperation

The Association of Iraqi Private Banks signed, last March, with the Federation of Egyptian Banks, in Cairo, a memorandum of understanding to develop banking relations between Iraq and Egypt

And the Central Bank of Iraq announced, in October of last year, that 19 licensed Iraqi banks had obtained a rating from accredited international rating agencies  LINK

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

Samson:  The Central Bank separates the work of the Deposit Insurance Company, the development of the payments system, and cooperation with major international banks

14th September, 2022

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, outlined today, Wednesday, his most prominent priorities and main tasks adopted by the bank, while separating a group of files, including international cooperation with major banks, the work of the Deposit Insurance Company, the performance of the banking sector and the development of the payment system.

In an interview with an economic magazine affiliated with the Central Bank, and seen by the Iraqi News Agency (INA), he said, “Everyone knows that the Iraqi economy has been accompanied during the past period by many shocks, such as the drop in oil prices and the war on ISIS terrorist, as well as the state of political instability.”

Therefore, the Central Bank of Iraq contributed to maintaining the stability of the value of the Iraqi dinar significantly, bearing the costs of imbalance in the cash flow of the general budget.

He added: "In addition, we have set our sights on moving from the process of unilateral targeting (maintaining an acceptable level of inflation) to the case of bilateral targeting represented in maintaining monetary stability and promoting growth, and for this we seek to work on activating indirect monetary policy tools, as well as the adoption of a policy of quantitative easing through the Central Bank’s initiatives, which amounted to about 18 trillion dinars, which represents a state of planned financial guidance in harmony with market economies in creating a partnership between the banking sector (conventional and Islamic) and the real sector (public and private), as strategic projects will be presented Financing it through the banking system and under the supervision of the Central Bank.

He continued his speech by saying, "One of the most important priorities of this bank, in addition to its main tasks, is to adopt the following:-

1- Adopting an efficient policy that stems from the fact that general price stability is a prerequisite for achieving sustainable growth, a pivotal element in the overall economy, and a major factor in providing a suitable environment for investment and protecting the purchasing power of the national currency.

2- Contributing to achieving sustainable development and providing job opportunities, especially since the Bank is a member of the Sustainable Development Committee 2020. 

3- Strengthening the relationship and effective coordination between the monetary policy represented by the Central Bank of Iraq and the financial policy represented by the Iraqi government (Ministry of Finance) in order to achieve the overall goals for the next stage.

4- Implementing an effective precautionary control policy by analyzing and evaluating potential risks in the banking sector.

He continued: "As is the case in all countries of the world, the banking system faced financial and health crises, which in turn led to a stagnation in economic activity at a lower level than expected, but it is acceptable in light of the multiple challenges experienced by the banking sector."

And he indicated, "The measures of the Central Bank contributed to prompting some banks to take courageous steps to strengthen the confidence of depositors and society in them, while the activities of other banks were negatively affected by these circumstances, as we expect our urgent reform efforts to bear fruit soon, and it is useful to say, that the Central Bank's initiative to support Bank liquidity and the provision of funds to those in need of citizens and companies has enhanced the performance of the banking sector and made it more involved in moving the economic wheel.

He continued: "Through the foregoing, the Financial Action Task Force (FATF) removed Iraq from the monitoring and follow-up list for the modernization phase every two years, and we are now in the process of removing Iraq from the high-risk countries according to the classification of the European Union."

And he added: “In addition, the Bank has started implementing Financial Reporting Standard No. 9 since 2017, and it has imposed on banks to apply international standards since 2019, including Standard No. 9, and with regard to financial inclusion, we have taken important steps in achieving this goal by forming a committee To prepare the national strategy for financial inclusion in cooperation with relevant international and local institutions.

Concerning keeping pace with the application of international standards, he said, "The bank keeps pace with all international standards in the field of compliance, and evaluates banks in the field of compliance and anti-money laundering on a semi-annual basis through their reports, procedures, training courses, and international certificates granted to them in this field."

He explained, "The compliance and anti-money laundering officials are appointed according to conditions determined by the Central Bank of Iraq related to banking experience and certificates, and they are not dismissed except after obtaining the approval of this bank, and their departments are independent and linked to the bank's board of directors directly in accordance with the governance guide issued by this bank."

He continued: "This bank has entered into a number of agreements with major commercial banks to open new horizons for international banking cooperation, to maintain existing relations and open new channels of communication with international commercial banks with high credit ratings characterized by low risks and the ability to achieve the objectives of the Central Bank of Iraq from By contributing to managing foreign reserves investments, facilitating external transfers and oil credits, as well as developing the capabilities of the cadres of this bank.

On the other hand, work is currently underway with a number of sober international banks to prepare the necessary ground for banking cooperation with Iraqi banks that have outstanding performance and have a credit rating from accredited rating agencies. Opening accounts for Iraqi banks and opening new horizons for international cooperation.

And he continued: “In the field of custodianship of securities, the Central Bank has contributed to facilitating banks’ access to major securities custodians by opening an account for the Central Bank of Iraq with the most important custodian institutions in the world, allowing these banks to keep or pledge their securities by opening accounts A sub-branch of the main account of the Central Bank of Iraq.

Regarding the Deposit Insurance Company, he said: “The board of directors of this bank issued a decision to grant the Iraqi Deposit Insurance Company the final license with a capital of 100 billion dinars to practice working with deposit insurance, taking into account the Law of the Central Bank of Iraq No. 56 of 2004 and the Banking Law No. 94 of 2004 and the amended Companies Law No. 21 of 1997 and Deposit Insurance Law No. 3 of 2016 provided that it is subject to the control and supervision of this bank. The members of the company’s board of directors were selected and the authorized manager was appointed, and the company’s website was also chosen to complete the procedures and start doing its business.

And the governor continued: “Here, it must be noted that the company is still in the first stage in terms of implementing its objectives and it needs media support, especially at this stage in order to communicate its objectives and the purpose of its establishment to the public, in order to enhance the citizen’s confidence in the banking sector, and all of this needs more Combined time and effort.

On the other hand, the governor said, "Within the framework of the Central Bank of Iraq's efforts to develop its infrastructure, a future vision is being developed for the development of the payments system by operating systems compatible with international best practices with the aim of enhancing financial inclusion and electronic automation through several procedures we are working on as projects for the Payments Department in The Central Bank of Iraq, which are:

A- Activating electronic collection for billing entities

B- Automating the work of ministries and government institutions 

C- A project to establish a Fast Payment system

D- A project to digitize e-learning in Iraq

E- Implementation of the “Know Your Customer” e-project K-KYC), which provides a unified database to facilitate the process of customer identification,

F - Implementation of digital financial services.

G- Developing the Real-Time Gross Settlement (RTGS) system to work in line with a unified database to facilitate the process of identifying the customer.

H - The participation of the Iraqi banking system in the regional clearing system and the inter-Arab payments clearing and settlement system.

I - Preparing the national strategy for financial inclusion and delivering electronic payment services to all segments of society.

J - Contracting with consulting companies to draw up a payment strategy and develop the structure of payment systems.

K- Contracting with external audit companies to audit the work of electronic payment service providers in terms of financial and technical terms and their compliance with international standards and the instructions of this bank.  LINK

Samson:  Egypt is preparing to introduce a new category of currency for the first time in its history

14th September, 2022

Today, Wednesday, the Egyptian Cabinet announced the approval of some decisions, including minting a new coin to be put into circulation for the first time in Egypt

The council initially approved a proposal to conclude a partnership agreement between the Public Treasury and the Egyptian mint, and the British Royal Mint, "Royal Mint", to establish a British-Egyptian mint in the Suez Canal Economic Zone

This approval comes within the framework of the Ministry of Finance’s aspiration to establish a partnership that goes beyond the idea of ​​transferring technical expertise only, and seeks a partnership based on participation in the production and operational process, with the aim of settling metallurgical industries in Egypt, and for Egypt to be a leading regional center for the production and minting of currencies for Arab, African and Middle Eastern countries, depending on local inputs in the manufacture of national currencies and currencies intended for export abroad instead of importing them as raw discs

LINK

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

Samson:  Digital currencies and inflation top the meeting of Arab central bank governors in Saudi Arabia

14th September, 2022

The Kingdom of Saudi Arabia, represented by the Saudi Central Bank “SAMA”, will host on Sunday and Monday, September 18 and 19, 2022 in Jeddah, the meeting of the 46th regular session of the Board of Governors of Arab Central Banks and Monetary Institutions, and the high-level round table workshop accompanying the meeting On "Digital Currencies for Central Banks and the Future of the Monetary System", sponsored by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.

The Saudi Central Bank said, in a statement today, Wednesday, that the meeting will witness the participation of a number of senior officials of the International Monetary Fund and the Financial Stability Board, as well as experts from international institutions and global central banks.

He also made it clear that the governors of Arab central banks and monetary institutions will discuss during the meeting a number of main topics; Most notably: the global inflationary wave and its repercussions on monetary policy in the Arab countries, the risks of the repercussions of climate change on the financial sector and banking services, and the challenges of shifting towards green finance, in addition to the requirements and challenges of rebuilding capital and liquidity margins in the banking sector after lifting support packages.

And the Central Bank indicated that the meeting’s agenda will include informing the governors of Arab central banks and monetary institutions about reports on the work of the committees and work teams emanating from the Council, as well as reviewing the fifth edition of the Financial Stability Report in the Arab Countries for the year 2022 AD, and the Unified Arab Economic Report for the year 2022 AD, as well as briefing on the unified Arab speech for the year 2022 AD, which will be presented by the Arab Group at the annual meetings of the International Monetary Fund and the World Bank next October 2022 AD, which reflects the views of the Arab countries towards the current economic developments.

The Governor of the Saudi Central Bank, Fahd bin Abdullah Al-Mubarak, stressed the importance of this meeting in light of the rapid events and developments that the region and the world are witnessing in all fields in the economic and financial sectors.

Al-Mubarak praised the efforts made by the secretariat of the Board of Governors of Arab Central Banks and Monetary Institutions, whose work is carried out by the Arab Monetary Fund, in following up on topics and developments, preparing for the council’s meeting, and following up on the development of the work of the committees and work teams emerging.  LINK

Monday Night KTFA CC with Frank26 9-12-2022

KTFA

Monday Night KTFA CC

Frank26:  9-12-22……PRAY FOR WS

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 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=mTL9jkrHyT8

Some "Sunday News" Posted by Samson at KTFA 9-11-2022

KTFA:

Samson:  The highest since 2003.. the Iraqi Central announces a rise in foreign reserves

11th September, 2022

The Central Bank of Iraq announced that foreign reserves have risen to more than (85) billion dollars.

And the bank stated in a statement received by Mawazine News / a copy of it, that "its foreign reserves have reached more than (85) billion US dollars, which is the highest level achieved by the Central Bank since 2003."

He added, "Gold reserves also with the Central Bank exceeded (130.4) tons, with a value of (7) billion dollars, bringing Iraq to the thirtieth place globally and fourth in the Arab world."   LINK

Samson:  Al-Jubouri Talks About The “Most Important And Undeclared” In The Al-Party Agreement And Sovereignty

11th September, 2022

Today's agreement between the Kurdistan Democratic Party and the Sovereignty on the necessity of holding early elections in 2023, to be preceded by the formation of a government with full powers, means their departure from the Alliance to Save a Homeland, which included them with the current.

The most important and undeclared is their agreement that the new government will be President #Mustafa_Al-Kazemi

Mishaan Al-Jubouri   LINK

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

Samson:  Only two options.. the international community is preparing to intervene in Iraq

11th September, 2022

The political crisis in Iraq resulting from the last elections is approaching the completion of its first year, in light of international moves to end the crisis with an initiative that is preparing to be put forward by the representative of the Secretary-General of the United Nations in Iraq, Jenin Plasshart.

According to information obtained by Mawazine News, "the international community is increasingly concerned about the developments of recent events in Iraq, which have reached armed clashes, and is ready to intervene through the United Nations and European Union missions to reach a guarantor agreement between the Iraqi political parties."

She adds, "The United Nations and the European Union will be the guarantors of the agreement of the Iraqi political blocs, especially between the coordination framework and the Sadrist movement on the one hand, and with the Kurdish and Sunni political parties on the other."

She points out, "Blackshart will present a working paper similar to the initiative to the Shiite political blocs of the Sadrist movement and the coordination framework to sign it and with an international guarantee.

Two options were put before the Iraqi political forces to agree or move internationally to correct the political process in Iraq." As for the text of the working paper or its articles, the information clarifies that it “includes holding early elections and dissolving Parliament within a period not exceeding six months,” without giving further details.

Since the early parliamentary elections that took place on the tenth of last October, Iraq has been in a state of political impasse that reached its climax during the past month, when the Green Zone witnessed armed clashes that resulted in casualties and injuries, before the leader of the Sadrist movement Muqtada al-Sadr requested the withdrawal of his supporters from the region green.

A few days ago, Al-Sadr issued a statement from several points, in which he demanded early elections and the retention of the presidents of the republic and the ministers, but the coordination framework that includes Shiite forces and is considered the largest bloc refuses to keep Al-Kazemi and insists on forming a government headed by his candidate, Muhammad Shia Al-Sudani.  LINK

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

Samson:  The World Bank is ready to support economic reforms in Iraq

11th September, 2022

Today, Sunday, the World Bank expressed its readiness to support the Iraqi government in the field of development and achieving the economic reforms that the country needs. 

The media of the Ministry of Planning said in a statement received by Shafak News Agency, that Minister Khaled Battal Al-Najm received today the new Special Representative of the World Bank in Iraq Richard Abdel Nour and his accompanying delegation, explaining that during the meeting, aspects of joint cooperation between the two sides in various economic issues were discussed. and development, especially in relation to the working mechanisms of the Recovery and Reconstruction Fund in Iraq and the Social Fund for Development.

The statement quoted the minister, confirming Iraq's keenness and strong desire to strengthen relations with the World Bank to serve development in the country, indicating that all projects being implemented within the two funds should be among the priorities identified by Iraq, according to the development gaps.

For his part, Abdel Nour expressed, according to the statement, the World Bank's readiness to provide more support to the efforts of the Ministry of Planning and the Iraqi government, in the field of supporting development and achieving economic reforms, which Iraq needs, after the crises it has faced in recent years.  LINK

Samson:  Integrity: Al-Kazemi directs to activate the electronic system to prevent corruption

09/11/2022 17:11:02

The Federal Integrity Commission announced the formation of a team to coordinate the work of border crossings headed by the Director-General of the Department of Prevention in the authority, and includes in its membership the Board of Financial Supervision and the Border Ports Authority, and representatives of the governors of the governorates that include border crossings; In order to improve the reality of its work, it is considered a basic pillar of national security.

The Authority's Prevention Department referred to the Prime Minister's directive that the authority should coordinate with the Border Ports Authority to follow up on the implementation of the recommendations issued by the detailed report on the meeting of the two bodies with the authorities operating at the ports, indicating in a report that it conducted visits to the border crossings and customs authorities; To follow up on the implementation of the recommendations of the detailed report.

In a report prepared by the department on those visits, the department indicated that the authority's proposal regarding the work of the electronic system has been responded to. 

To prevent corruption and deter spoilers, indicating that the Central Organization for Standardization and Quality Control works with the electronic system of conformity certificates (online) for incoming goods for all licensed companies contracting with the agency, while the General Company for Ports of Iraq is working to implement the electronic management program; To improve the effectiveness and productivity of the company and achieve the (IMO) requirements for a single window to get the company to the white list, as well as speed up procedures to reduce the time of delivery of goods to beneficiaries, and improve the processes of loading, unloading, payment and electronic collection.

Regarding the authority’s recommendation to switch to an automation system, the Border Ports Authority activated the customs and tax receipt audit program at the ports. 

To ensure that it is not falsified and to link the customs exemptions program with (the National Investment Authority, the General Authority of Customs, and the General Directorate of Industrial Development in the Ministry of Finance) through a special window for each department; In addition to activating the electronic certificate of origin program to ensure that the certificate and commercial invoice are sent electronically, and to prevent forgery of transaction documents, the General Authority of Customs embarked on the first phase of implementing the customs procedures automation contract signed with UNCTAD in accordance with the standards International, and the General Tax Authority in coordination with the Ports Authority; To establish mechanisms for working in tax units. 

The report monitors work to strengthen the cadres of inspection committees in customs centers to ensure the smooth flow of inspection procedures for goods and job rotation; To prevent abuse of the position, and to ward off suspicion of corruption, he noted the formation of a committee in the General Authority of Customs to inventory containers located in customs centers; To reduce the momentum caused by the accumulation of containers, and to obtain fundamental approvals to present them to the judicial authorities; To resolve them and issue decisions to confiscate them, after which, abandoned funds, after the Border Ports Authority obtained the decision (67 of 2022) from the Council of Ministers, which obligated ministries and agencies not affiliated with the Ministry and the governorates to remove the containers from the ports within (30) days, otherwise they are treated as abandoned funds. 

And he touched on the efforts of the Integrity Commission and its control over the ports through its investigation and audit teams to strike preemptively through the operations carried out for smuggling cases that constitute a waste of public money, and to ensure compliance with anti-corruption, as well as holding seminars and workshops that contribute to enhancing integrity and combating corruption, pointing out that all fees collected by the General Company for Ports of Iraq are fees for services costs and real costs performed by the company by contracting with specialized companies in the form of joint operation, provided that part of the revenues and wages are allocated to these companies.

The report stated that the Ministry of Environment had concluded a consultancy contract with one of the companies; For the purpose of setting up radioactive detection gates at the border ports, to tighten control over the entry of radioactive materials, based on the invitation of the Integrity Commission, noting that the health teams of the health departments in Baghdad and the governorates have withdrawn samples of the consignments entering through the border ports, and sent them to accredited laboratories; for a purpose.  LINK

MilitiaMan and KTFA Members Saturday PM 8-10-2022

KTFA:

MilitiaMan:   Shafaq News/ The Kurdistan Democratic Party (KDP) said that dissolving the Iraqi Parliament is a joint decision that should be taken by the political forces and parties in Iraq.

Responding to a question about Muqtada Al-Sadr's call for his Kurdish and Sunni allies to work to dissolve Parliament and run early elections, the KDP spokesperson, Mahmoud Muhammad, told reporters, "until now, no dialogue is conducted on this issue, but we preferred such problems to be solved through dialogue to reach a joint decision."

Muhammad pointed out that forming the next federal government and addressing the problems is the way to "end the current situation."

Earlier, Salih Mohammad al-Iraqi, who runs a Twitter account named "the leader's advisor" and is widely believed to be al-Sadr's mouthpiece, quoted the maverick clergyman saying, "Our opinion on the return of the Sadrist bloc: it is strictly and forbidden."

"If we return, our Sunni and Kurdish allies must approve the proposed solution, and I don't think they will... So if this happens, there is no need for us to return, they would withdraw, and, then, the Parliament would be automatically dissolved," he said. 
Iraq marked its most extended post-election deadlock as infighting among Shi'ite groups, in particular, prevented the formation of a government.

About ten months after the October 2021 election, lawmakers tasked with choosing a president and prime minister looked no closer to an agreement, bringing the country to a record without a head of state or cabinet.

The outgoing government of Prime Minister Mustafa al-Kadhimi continues to run the country. However, if parties cannot agree on a new government, Kadhimi might stay as caretaker until new elections can be held.

Iraqis say the situation is exacerbating a lack of services and jobs even as Baghdad earns record oil income because of high crude prices and has seen no significant wars since the defeat of ISIS five years ago. LINK
------------------------------------------------------------------------

MilitiaMan:  Yesterday noted below,  we have data that says the court has made recommendation to dissolve parliament. They told us that since the HOR (House f Representatives) was in violation of exceeding the constitutional periods, (For over 10 months.) they would be illegitimate in anything they do except one item, and that is dissolution of the HOR.

They mention there was an apparent agreement that took place behind closed doors and it was to dissolve parliament.

Then we now see in the above and below that if they are illegitimated then there is no need to return to Parliament, thus, they would withdraw from Parliament and they would be automatically dissolved.

By that, it is seemingly done already and we may just be waiting on a formal announcement of such actions from Kahdimi. He will likely inform everyone about his position and declare a time frame for early elections.

I like where we are and what we are seeing. With that done in accordance with the constitution, they'll have legitimacy in the eyes of the region and globally. A very good and necessary thing to have!!! imo

Aside from all that, it sets the stage for the so called "Caretaker Government" that will have the powers via the EFSL to complete old laws on the books. That includes the Oil and Gas Law. We have been relatively recently been reminded of that by a friend we all know in previous work in this forum. The oil and gas law is a key item the citizens require within the reforms.

 That is exactly what Kahdimi will do imo, that is see to it they get their reforms so they can have their constitutional rights met. I suspect that we hear an announcement in short order. Automatic is immediate.. " There is no solution except with a solution."  The solution being dissolution!!! Oh ya.. ~ MM

~~~~~~~~~~~~~~~

The Sadrist Movement: Any session of Parliament will be illegitimate

8th September, 2022

The leader of the Sadrist movement, Ghayeb al-Amiri, confirmed that any session of Parliament would be illegal according to the Federal Court.

Al-Amiri said in a statement, "It is true that the Federal Court did not dissolve Parliament, but it implicitly recognized its illegality."

He added, "Any session that will be held will be illegitimate, and any outputs of the House of Representatives will be illegitimate," adding that "what is issued from the illegal is definitely illegal, except for the dissolution of the parliament itself."

He concluded his statement by saying: "There is no solution except with a solution." LINK

~~~~~~~~~~~~~

Al-Hakim: The Federation threw the ball into the parliament’s court and sent a message to dissolve itself

8th September, 2022

Political analyst Muhammad Ali Al-Hakim said, on Thursday, that the Federal Court had thrown the ball into the parliament's court and delivered a veiled and indirect message to dissolve itself within the constitutional frameworks.

Al-Hakim told Al-Maalouma, "The Federal Court's decision threw the ball into the parliament's court and directed the dissolution of itself based on the violations and exceeding the constitutional periods that took place in this session."

He added that "the court, in the second item of its statement, has conveyed a veiled and indirect message dissolving itself within the constitutional frameworks based on the violations that occurred during this session, meaning that the Federal Court is not responsible for dissolving the House of Representatives and there are no constitutional articles that allow parliament to be dissolved without reference." mechanism".

Al-Hakim explained, "It is not excluded that there will be an agreement that took place behind the scenes and in the dark rooms between all the political parties to dissolve Parliament in the first sessions after the session." LINK

Clare:  PMF artillery destroys 6 ISIS targets in Diyala

 2022-09-10

A security source in Diyala reported on Saturday that the Popular Mobilization Forces destroyed 6 ISIS targets in the northeast of the province.

The source told Shafaq News Agency, "The artillery of the crowd, based on monitoring and control information, handled movements of ISIS on the outskirts of Hamrin Lake and Wadi Qalab 55 km northeast of Baquba."

The source confirmed that "the artillery bombardment resulted in the destruction of 6 ISIS targets, without indicating the size of the losses in the ranks of ISIS."

The security forces and the crowd launch from time to time strikes against ISIS positions and movements in hot spots far from the military units.  LINK

Zeeman:  the iraqi air force did an excellent job taking out some terrorists sadly i cannot say the same about forming the gov. imo  

MilitiaMan:  There may be some light at the tunnel today from Sadr on that matter. There was a face book post from Sadr that was on the line of he resolved his decision and is coming back to Parliament to have a session whereby to vote on the President in support of Saleh and Kahdimi. Did he do it today? I don't know.. But, Imagine there was good reason form him to decide to come back. Is that because the dark room deals were struck yesterday? We surely will soon find out. Hang in there. imo ~ MM

~~~~~~~~~~~~

Mark:  PEOPLE IT'S WAY BIGGER THAN IRAQ ..... YOU JUST HAVE TO DO SOME RESEARCH

MilitiaMan:  I have the same feeling and understanding.. It is not only about Iraq, but, it is about Iraq. Many currencies are at play, as we all know that the IQD will likely fall within a basket at the AMF within the BUNA platform system electronically..

The BUNA article today supports that within 2-3 weeks there will be more currencies  going on-line with it and they will benefit from doing so.

As Petra likes to say.. "All boats rise with the tide.", and they will. Once the IQD with an international calculation is applied and it is 100% IMF Article VIII compliant and placed into the basket and cleared electronically within the electronic digital platform that value will be reflected in the balance sheets of the the other countries that have IQD.

Just as the IMF SDR basket will rise in value. Many SDR Basket currencies own shed loads of IQD.. I mean trillions in some cases.. o, when you say it is bigger, your not wrong at all.. IOO.. ~ MM

~~~~~~~~~~

Samson:  "Bunni" Platform For Arab Payments, Owned By The Arab Monetary Fund And Standard Chartered Bank, Celebrates The Launch Of The Instant Payments Service In The Euro Currency

10th September, 2022

The inclusion of the euro in the Bunny platform will strengthen economic ties between the Arab world and Europe, as well as with international trading partners

The Buna platform (the payment system operated by the Arab Payments Clearing and Settlement Regional Corporation, owned by the Arab Monetary Fund) and Standard Chartered Bank today held a ceremony at the headquarters of the Arab Monetary Fund to announce the full operation of cross-border instantaneous payments in the euro currency on the Buna platform.  

The service has now been activated by a number of participating banks from various Arab countries, with an expectation of greater participation in the next few weeks to benefit from the feature of the instant settlement of cross-border euro payments on the "Bunni" platform, in order to achieve compliance with international best practices and international standards.

The full operation of the Euro is another major step in the journey of the Buna platform to promote cross-border payments and develop innovative payment solutions for businesses and individuals. The cooperation between the Buna platform and Standard Chartered Bank represents a joint strategic effort towards opening the door to opportunities for greater economic integration within the Arab region, and strengthening economic, trade and investment ties with the European continent and other major trading partners.

On this occasion, Mr. Mahdi Manea, CEO of the Corporation, commenting on this important step, said: “I would like to thank Standard Chartered Bank, which shares with us the goals to improve the level of cross-border payments services, and thanks to our shared vision and fruitful cooperation - the instant settlement of cross-border payments in the currency of the Euro is possible through the Buna platform.

 This is an important achievement towards building effective global bridges for payment services, and the participating banks will benefit from our efficient, secure and reliable central system to improve the level of their payments in the important international currency Euro.” He added: "I would like to take this opportunity to thank the European Central Bank for following with interest all the key stages that led us to this success."

On her part, Rola Abu Minh, CEO, said for Standard Chartered Bank in the United Arab Emirates: “We are pleased to witness the launch of this unique initiative that contributes to supporting our clients specialized in the field of cross-border payments and harnessing Standard Chartered’s international network and global capabilities.

We are also pleased to work with the Arab Monetary Fund in providing these innovative solutions and we look forward to participating actively the largest in providing the bank's extensive experience in the field of payments clearing.  LINK

KTFA Members "News and Views" Wednesday Afternoon 9-7-2022

KTFA:

Samson:  Brent crude drops below $90 a barrel for the first time since the Ukraine war

09/07/2022 16:34:27

 International Brent crude oil fell below $ 90 a barrel for the first time since Russia's war on Ukraine.

And oil prices fell today, Wednesday, to their lowest levels since last January, after the restrictions of Covid-19 in China and expectations of further interest rate hikes renewed fears of a global economic recession and reduced fuel demand growth. LINK

Samson:  Iranian Central: Offering the Iraqi dinar to local banks

7th September, 2022

The Governor of the Central Bank of Iran announced the introduction of the Iraqi dinar currency in local banks.

The governor, "Ali Saleh Abadi," said in a statement on the sidelines of the cabinet session today, Wednesday, that a quantity of the Iraqi dinar entered the country yesterday and will be distributed starting tomorrow (Thursday).

He pointed out that those wishing to perform the fortieth visit of Imam Hussein (peace be upon him) should go to the local banks to provide the dinar currency besides reviewing the exchange offices.

And he indicated that 25 local banks have been identified to offer the dinar currency, in order to avoid crowding the exchange offices in the market.  LINK

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

Samson:  The Federal Court rejects the lawsuit to dissolve Parliament..and this is the text of its decision

09/07/2022 15:12:03

The Federal Supreme Court decided to reject the case for dissolving the House of Representatives.

In light of its decision, the Federal Supreme Court held  the following:

1. The members of the House of Representatives, after being elected, do not represent themselves or their political blocs, but rather the people. Therefore, it was necessary for them to work to achieve what they were elected for, which is the people’s interest, not to be a reason to obstruct their interests and threaten their safety and the safety of the people completely

2. The stability of the political process in Iraq requires everyone to abide by the provisions of the constitution and not to exceed it, and no authority may continue to exceed the constitutional periods indefinitely, because this is in violation of the constitution and the demolition of the entire political process and a threat to the security of the country and citizens

3. The penalty imposed on the House of Representatives for not carrying out its constitutional duties is to dissolve the House when there are justifications for it

4. The Constitution of the Republic of Iraq for the year 2005 has drawn up the constitutional mechanism for dissolving the House of Representatives in accordance with the provisions of Article (64/First) thereof

5. The jurisdiction of the Federal Supreme Court is limited by Article (93) of the Constitution and Article (4) of the Federal Supreme Court Law and does not include the dissolution of Parliament

6. The Constitution of the Republic of Iraq for the year 2005 did not overlook the regulation of the provisions of the dissolution of Parliament, and therefore there is no room for applying the theory of constitutional omission  LINK

~~~~~~~~~~~

Ryan1216:  Now how will we get Parliament dissolved and move forward??

DoTalktome:  Frank has taught us parliament has been dissolved a long time ago. Pay no attention to articles saying otherwise.

Popeye7:  Imo, thanks Samson for the news today, and everyday that you never fail to keep us informed about Iraq...

There is certainly something afoot, and with the ruling of Iraq's Judicial council, this to me is good news in that all avenues have been exhausted for the public to see... In fact it would not surprise me if this delayed ruling was a diversion of sorts...

There is a day for this to occur that very few know... We are drawing closer to it... Lots of what is going on is filler so to speak till that day is reached...

The fact remains, and as Frank, and the teams have pointed out, Iraq's parliament is nothing more than a lame duck, having no power at all... They neglected their constitutional duties as the articles pointed out... As we have all been reading, PM Kazemi has been exercising the authority granted him because of parliament lame duck status, and the very reason why he has been meeting with leaders of other nations on an ongoing basis for the past few months or so...

Remember the article earlier this week inviting him to the UN meeting that begins on the 13th of Sept?... It is the 77th session as MM posted a link for that 2 week meeting to transpire... Let's see how the rest of the week plays out... But remember that everything is in order for this to go folks... Just a matter of when, and not if...

No rates, or dates, and do not allow for the distractions within some of the articles to lessen the enthusiasm.. There is always going to be drama propagated via the press... All the while everything is in order for this to occur... Again Imo, and in God's prophetic time frame... Have a great day, and God bless... Thanks again for all here.. 

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

Samson:  Legal expert: The Federal Court ruled that Parliament should be dissolved, but it did not fulfill it

07/09/2022 15:54:49

 A legal expert explained the decision of the Federal Supreme Court regarding the response to the case for dissolving the House of Representatives.

Ali Al-Tamimi said in a statement that {Euphrates News} received a copy of it: “In the Federal Court’s decision, condemning the Iraqi parliament for violating the constitutional terms, which leads to the demolition of the entire political process and threatens its safety and the integrity of the country as a whole.

 Its dissolution is based on Article 93 and Article 4 of the Constitution, that it is not within its competence to dissolve Parliament, but rather the matter is left to the political blocs and the executive authority.”

The Federal Supreme Court rejected, at its session today, the lawsuit submitted by the Sadrist movement regarding the dissolution of the House of Representatives. The court considered that its competencies are “determined by Article (93) of the Constitution and Article (4) of the Federal Supreme Court Law, and it does not include the dissolution of Parliament, but the penalty imposed on the House of Representatives for failing to fulfill its constitutional duties is to dissolve the Council when there are justifications.”

The court reminded the members of the House of Representatives that they "do not represent themselves or their political blocs, but rather the people, and therefore it was necessary for them to work to achieve what they were elected for, which is the people's interest, not to be a reason to obstruct their interests and threaten their safety and the safety of the people completely."

And she stressed that "the stability of the political process in Iraq requires everyone to abide by the provisions of the constitution and not to exceed it, and no authority may continue to exceed the constitutional periods indefinitely, because this is a violation of the constitution and the demolition of the political process completely and a threat to the security of the country and citizens." She noted that "the Constitution of the Republic of Iraq for the year 2005 has drawn up the constitutional mechanism for dissolving the House of Representatives in accordance with the provisions of Article (64/First) of it."

LINK

Samson:  Integrity seizes 14 fraudulent loan transactions in a government bank

7th September, 2022

Today, Wednesday, the Investigation Department of the Federal Integrity Commission revealed the seizure of loans granted in a government bank in Baghdad, according to forged transactions.

The Investigations Department of the Integrity Commission reported, through a statement, that "Al-Naeem News" received a copy of it. The work team of the Baghdad Investigation Directorate, which moved to one of the branches of Al-Rasheed Bank in Baghdad, was able, after carrying out follow-up, investigation and audit work, to seize the origin of (14) false loan file, pointing out that “there was complicity by a group of bank employees in granting loans.” 

She added that "the loan amounts range between (15-20) million dinars for each loan, within the loans granted to small projects," noting at the same time "the control of the account statement for the movement of customers for these loans."

She explained that "through the audits carried out by the team, it was found that all the documents submitted to obtain the loans were forged," noting that "a fundamental seizure report was organized with the seized criminal evidence, and presented to the judge of the Rusafa Investigation Court, which is specialized in integrity issues; to take appropriate legal action.”   LINK

Some "International News" Posted by Samson at KTFA 9-6-2022

KTFA:

Samson:  Gazprom: China will pay for Russian gas in yuan and ruble

6th September, 2022

The Russian energy giant Gazprom announced on Tuesday that China will start paying for Russian gas shipments in rubles and yuan instead of dollars, at a time when Moscow seeks to strengthen its relations with Beijing in response to Western sanctions imposed on it.

Gazprom described this step as a "transition" to complete payments for Russian gas supplies to China in the national currencies of the two countries.

Alexey Miller, CEO of Gazprom, said allowing payments in Russian rubles and Chinese yuan is mutually beneficial for both Gazprom and CNPC, and will set an example for other companies to follow.  LINK

Samson:  Russia is considering buying $16 billion in Chinese yuan by the end of 2022

09/05/2022 22:09:54

The Russian government is studying a proposal saying that Moscow may buy three to four billion dollars worth of Chinese yuan per month until the end of this year, to help stop the rise of the ruble.

 With abundant oil revenues, Russia is studying ways to fill a shortage of reserves as it reactivates a budget rule without buying the currencies of "unfriendly" countries that froze about half of the country's foreign reserves after Moscow sent its armed forces to Ukraine.

The purchase of currencies under the budget rule, which turns surplus oil revenues into a wealth fund, was suspended in early 2022. A decision to reactivate the budget rule needs approval from President Vladimir Putin.

Senior officials from the government, the Central Bank and major commercial banks held a meeting chaired by Prime Minister Mikhail Mishustin in Moscow on August 30 to discuss the development of the Russian financial system.

The proposal discussed by the meeting indicated that it would be feasible for Russia to buy $16 billion worth of Chinese yuan by the end of the year. But four informed sources told Reuters that no decision on buying foreign currencies was taken at that meeting. LINK

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

Samson:  Russia reaps “fabulous” revenues thanks to oil within 30 days

6th September, 2022

The Russian Finance Ministry expected an additional budget revenue of 403.4 billion rubles (equivalent to 6.65 billion dollars) in September, thanks to the rise in oil prices.

It added that it does not plan to use the surplus revenues in the budget to buy foreign exchange or gold in the market, because such purchases under the budget rule were suspended in early 2022. Russia is considering buying the currencies of "friendly" countries such as China, India and Turkey to keep in the National Wealth Fund after losing the ability to buy dollars or euros under the budget rule due to Western sanctions.

Moscow has been conducting discounts on the price of oil for some countries such as India and China, at about 30 to 40 dollars per barrel during the month of April, and it shrank during the past month to less than 13 dollars, even in some deals it was limited to 8 dollars, and thus Russia reaps despite the low prices Global oil has gained significant gains over the past two months, more than it was reaping at an average price of $71 per barrel in 2021, despite the decline in its production and the decline in some European demand for its oil,” according to what the economic advisor and specialist in the oil and energy sectors Amer Al-Shobaki said, in an interview with “Sky.” In the normal situation, Russia is considered the third largest producer of crude oil after the United States and Saudi Arabia, with an average daily production of 11 million barrels, of which it exports about 5 million barrels per day, and 2.8 million barrels per day of derivatives.

Rystad Energy had forecast that Russia's total oil and gas revenues for 2022 would be about $295 billion, based on the price of Brent crude. As a result, Rystad Energy estimates that the Russian government will earn $210 billion in oil and gas taxes in 2022. LINK

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

Samson:  Western European inability to invent new sanctions against Russia

5th September, 2022

Former Swiss intelligence officer Jacques Beau asserts that Western sanctions against Russia are not working, and the proposed new restrictions are like shooting yourself in the foot.

The colonel stated in an interview with "Radio Sud", that the Western media greatly exaggerated the losses of Russia and the forces of the Donetsk and Lugansk People's Republics in the special operation, and refuted the myth of the "resistance movement" in the lands liberated by Moscow.

The intelligence officer indicated that the West has a strategy to divide Russia and isolate it from the international community, and said that the United States deceived Ukraine by promising to impose devastating sanctions on the Kremlin, explaining that "the goal was not the victory of Ukraine but the defeat of Russia."

According to Bo, the sanctions imposed this year essentially repeated the experience of 2014. However, if the decline in oil prices played against Russia at that time, a reverse process is taking place now, as energy resources become more expensive. At the same time, Moscow continues to sell hydrocarbons, but now the position of Europe among the buyers is occupied by Asian countries, India and China.

Referring to an article by "Bloomberg", Bo said that the Russian economy is in full swing, in Europe they are raising the key interest rate to stop inflation, and in Russia they are lowering it to contain the strengthening of the ruble, while business activity is growing due to the easing of monetary policy. The intelligence officer said: "The incorrect information that spread in the West led us to the trap, and Western leaders did not bother to think about the consequences of their decisions. Today, the West no longer has ideas for imposing sanctions."

According to him, the new restriction proposals are like shooting yourself in the foot. In particular, there is talk of a possible ban on issuing visas to Russians, noting that "even the Americans opposed such a measure." He added that the West misjudged the situation, and noted that in the United States, information about events in Ukraine is carefully filtered before it reaches viewers and readers. A total of 159 public relations firms have been assigned to this task. Europeans blindly repeat the experience of the Americans.

Bo also expressed his bewilderment over the fate of the weapons supplied to Ukraine, adding that he was not the first to raise the issue. American journalists, members of Congress and Interpol are concerned about this problem. Countries refused to provide Ukraine with drones in order to exclude the possibility of their access to the Russian army or the black market.

The author also drew attention to the fact that the West has already eased sanctions against Russia, allowing it to secure shipping and provide spare parts for civil aircraft.

The expert also said that the United States is trying to remove all competitors - not only Russia and China, but also the European Union. Washington is trying to prevent Europe from making gains. Particularly in order to prevent the strengthening of the European economy, the countries launched attacks on the "North Stream 2" gas pipeline.

In closing, Poe dispelled another myth about the nuclear threat from Russia. He pointed out that US President Joe Biden authorized the use of nuclear weapons first. LINK

Samson:  The Arab League Council discusses a number of items related to Iraq

6th September, 2022

The Arab League Council at the level of Arab foreign ministers is scheduled to discuss at the meeting of the 158th session, which will be held today, Tuesday, at the headquarters of the General Secretariat in Cairo, a number of items related to Iraq, the most important of which is the draft resolution announcing the United Nations Committee that Iraq has fulfilled the last installment of his financial obligations to the United Nations Compensation Commission.

The Council will also discuss, in the presence of the Undersecretary of the Ministry of Foreign Affairs, Omar Al-Barzanji, the issue of supporting internally displaced persons in Arab countries and Iraqi displaced persons in particular.

The draft agenda for the 158th session includes other main items dealing with various political, security, legal, social, financial and administrative issues of joint Arab action. The draft agenda is topped by the report of the Secretary-General of the Arab League on the activities of the General Secretariat and the procedures for implementing the Council’s decisions between the two sessions, and the semi-annual report of the Decisions Implementation Follow-up Body and obligations.

The draft agenda also includes an item on the Palestinian cause and the Arab-Israeli conflict, and it includes a number of topics related to the political developments of the Palestinian cause, support for the budget of the State of Palestine, a report on Arab water security and Israel's theft of water in the occupied Arab territories, and the occupied Syrian Arab Golan.   LINK

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

Samson:  Overthrowing a network that activates its criminal operations through government banks in Maysan

09/05/2022 23:06:24

 The Police Directorate of Maysan Governorate and the facilities announced Monday, that the Anti-Crime Department managed to overthrow a network that is active in its criminal operations by fraud, fraud and theft of state funds from government banks in the governorate center.

The directorate said in a statement that {Euphrates News} received a copy of it: “After receiving information from reliable sources about the presence of a group consisting of (3) individuals, including a woman who promotes transactions in government banks, and their obtaining huge sums of money by submitting forged documents to receive Advances and Loans".

And she added, "Immediately, the Maysan Police Commander, Major General Nasser Latif Al-Asadi, ordered the formation of a task force by the Maysan crime fight, under his personal supervision, headed by the Director of the Combating Department, Colonel Haider Alwan Mahoud, and informing the investigative judge of the facts of the case to obtain fundamentalist approvals."

The directorate continued, "The work team, through research, in-depth research, and reliance on reliable sources, began to support the procedures for the arrest process, which resulted in the overthrow of the criminal network members who were present in one of the cafes within the city of Al-Amarah."

She pointed out that "they were seized in possession of various forged documents, a Master Card and letters of support belonging to state employees, and the accused have openly admitted the charges against them, and their statements were initially and judicially validated."  LINK

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

Samson:  Extortion and damage to public money..Sentence of severe imprisonment for 18 years against the former governor of Babylon

06/09/2022 15:52:55

 The Commission's Investigation Department reported the issuance of five convictions against the former governor of Babylon, indicating that the total sentences of imprisonment and severe imprisonment in absentia against the convict amounted to (18) years.

The department indicated that the Babylon Criminal Court - the third body specialized in hearing cases of integrity, issued a sentence of imprisonment for seven years and a fine of ten million dinars on the former governor of Babylon; for blackmailing the authorized director of the executing company for the “Paving Street 80 and its Subsidiaries” project; And his refusal to pay the company’s financial dues, except after paying 10% of each amount disbursed to the project. 

She added, "The court issued a sentence of severe imprisonment for five years to the convict for deliberately causing damage to public money, pointing out that he directed the Babylon Investment Authority to grant the model Hilla massacre as an investment opportunity, despite the existence of a previous book issued by the Ministry of Municipalities to offer the massacre for rent through public bidding.

The department explained that "the Hilla Misdemeanors Court, which specializes in integrity issues, issued three sentences of severe imprisonment for a period of two years, each against the former governor, for violating his job duties, by signing the administrative order for converting daily wages into contracts in the Babel Health Department, in accordance with Resolution No. (12 of 2019). ) which contains fictitious names. 

And she confirmed that "the convict was granted an exclusive investment opportunity for a real estate, contrary to Investment Law No. (13 of 2006), which stipulated the announcement of investment opportunities, in order to achieve the principle of competition between investors, as well as signing the minutes of replacing the piece allocated to the former governor of Babylon, despite the existence of a transaction A sale on the aforementioned piece in accordance with the provisions of Article (25) of the Law of Sale and Lease of State Funds No. (21 of 2013) prior to the mentioned exchange minutes. 

And it indicated, "The judgments decisions were issued in accordance with the provisions of Resolution (160 of 1983) and Articles (331 and 340) of the Penal Code, noting the issuance of arrest and investigation orders against the convict, and the placement of precautionary seizure on his movable and immovable property."  LINK

Monday Night KTFA CC "Framework...Who's Your Daddy?" 9-5-2022

KTFA

Monday Night KTFA CC:

Frank26:  9-5-22….FRAMEWORK…WHO’S YOUR DADDY

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 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=mA-QWAp1VZQ

Some "Iraqi Integrity and Financial News" Posted by Samson 9-5-2022

KTFA:

Samson:  Overthrowing a network of fraud, fraud and theft of state funds from government banks in Maysan

5th September, 2022

Today, Monday, Maysan Police Command announced the overthrow of a network of fraud, fraud and theft of state funds from government banks in the province.

The leadership said in a statement, that under the direct supervision of the Maysan police chief, the Maysan crime-fighting operation was able to overthrow a network whose criminal operations are active in forgery, fraud and theft of state funds from government banks.  LINK

Samson:  Sulaymaniyah.. Arrest of those accused of pumping counterfeit foreign currency into Chamchamal

4th September, 2022

Asayish (Security) Directorate west of Sulaymaniyah in Kurdistan Region announced today, Sunday, the arrest of two accused of dealing in counterfeit foreign currencies in Chamchamal district. 

A statement of the Directorate received by Shafaq News stated that in a joint operation between the forces of the Asayish Directorate, west of Sulaymaniyah, and the forces of the Sulaymaniyah Asayish Directorate, two suspects were arrested in possession of a quantity of counterfeit US dollars based on Article 281 of the Iraqi Penal Code. 

He added that a suspect named (S.H.M) was arrested in possession of a quantity of counterfeit US dollars in denominations of $100, indicating that after searching his home another quantity of the same currency and of the same denomination was found. 

The statement added that a second person named (F.A.H) was arrested on the same charge, pointing out that after the investigation and the search of the first accused's mobile phone, many pictures, video clips and SMS messages were found that talk about the exchange of counterfeit currency and dealing in arms sales.   LINK

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

Samson:  Integrity seizes cases of embezzlement, fraud and waste of public money in Najaf

5th September, 2022

The Commission's Investigation Department announced that it had carried out five operations; To control cases of embezzlement, forgery and waste of public money and violations in a number of municipal departments and banks in Najaf Governorate.

A statement by the department stated that the staff of the Najaf Investigation Office carried out three separate seizures in the Kufa Municipality Directorate. The audit division in the municipality. She added that, during a second operation, a "fake" exchange transaction was seized in the municipality in the amount of (6,000,000) million dinars organized by a number of its employees, and its amounts were disbursed in violation of the law.

She explained that the team monitored that the Kufa Municipality had rented a number of its shops at a low price that was not commensurate with its distinguished location. Which led to a waste of public money, as well as its failure to take legal measures against shop owners who violate the terms of the contract.

The department reported that two employees of the Industrial Bank embezzled sums of money from the bank, indicating that the suspects had the password and keys to the ATMs of one of the bank's branches, and they were responsible for following up and filling them out.

It noted the seizure of late-payment loan transactions in the Agricultural Cooperative Bank in "Abu Sakhir", pointing out that the bank's employees did not take legal measures against the borrowers who were reluctant to pay the loan installments, despite the passage of a long period of time after the end of the specified payment period.  LINK

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

Samson:  Mafias steal funds from Iraqi prisons in innovative ways

5th September, 2022

Corruption inside Iraqi prisons, according to field sources and eyewitnesses, has reached a serious level.

Journalist Aziz Al-Rubaie wrote that the price of a pot of harissa in the women's prison in Baghdad is 290,000 Iraqi dinars, while the price of the egg layer in Al-Hout prison is 35,000 Iraqi dinars.

Basra, Nasiriyah, Babil and Baghdad prisons top the list of legal violations, as well as financial and administrative corruption from extorting inmates' families, passing through the manipulation of prisoners' daily food.

The most prominent corruption files in the Iraqi reform department are contracts to feed prisoners, which amount to more than 222 million dollars annually, according to information published by the media.

Catering companies control the stores inside prisons through influential officials, to earn hundreds of thousands of dollars annually.

Prisons suffer from neglect and health failures, in addition to malnutrition.

Activist Akram Al-Kurdi considers prisons an investment, adding: Despite the prisoners' annual allocations estimated at millions of dollars, the prisoner buys most of his needs from the store.

Abdul Rahman Al-Salihi asked: Who can open the prisoners' file, which is controlled by personalities and influential parties?

Asal Nasser commented on Twitter, saying: A kilo of onions costs 5,000 dinars in Taji prison, and a single egg costs 1,000 dinars.  LINK

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

Samson:  A parliamentarian reveals an embezzlement deal worth 63 billion dinars in one of the ministries

5th September, 2022

Today, Monday, independent MP Hadi Al-Salami revealed a deal of embezzlement of the Ministry of Electricity amounting to 63 billion dinars of money for collection.  

Al-Salami said in an interview with "Al-Maalouma", that "documents that prove the embezzlement of levy funds in the Ministry of Electricity have been handed over to the Public Prosecution Authority, the Public Integrity Commission and the Office of Financial Supervision in order to investigate and hold those involved to account."  

He added, "The case is now in the Karkh Investigation Court to take legal measures, and we will follow the case to the end until the embezzlers and those involved in this file are revealed."

 He continued, "This case was revealed through the reports of the Integrity Commission, and work is underway on many files and issues tainted by corruption in all ministries and government institutions, after remaining silent before the influential on many corruption deals." 

It is noteworthy that this is not the first time that the Ministry of Electricity has been involved in major corruption cases referred to the judiciary, and this is what caused a lot of suffering for the Iraqi people as a result of the weak electricity infrastructure in Iraq. LINK

Samson:  Central banks participate in the manufacture of modern financial technologies

5th September, 2022

Today, Monday, the Arab Monetary Fund announced the launch of a training course directed to the cadres working in central banks, under the title (Regulatory Frameworks and Legislations for the Industry of Modern Financial Technologies).

A statement by the Fund, received by "Al-Iqtisad News", stated that "the course will continue until the eighth of this month, and is also directed to those concerned with issues of modern financial technology and staff working in capital market authorities and stock exchanges and ministries of finance who are specialized in issues of modern financial technology."

He added, "It aims to deepen the participants' understanding of the regulatory framework for the modern financial technology industry, as well as discussing many axes, the most important of which is building an incubating environment and effective national strategies for modern financial technologies and blockchain technologies."

The course reviews some of the different aspects of regulating modern financial technology activities, such as regulating open financing activities, alternative financing, encrypted financial assets and digital contracts, digital financial services consumer protection frameworks, cyber security, data protection frameworks and customer information privacy, and electronic know-your-customer rules to combat laundering. Funds and financing of the cuticle.

It will also shed light on digital regulatory and supervisory solutions to support the regulatory and supervisory authorities in regulating this industry. LINK

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

Samson:  An economist expects oil to continue at $ 100 until the end of 2022

09/04/2022 21:04:45

An economic expert expected, today, Sunday, the continuation of selling oil at a price of $ 100 until the end of 2022.

Safwan Qusay told Al-Furat News that: "We have the last quarter of this year, if Parliament was able to approve the actual spending in these nine months and add the surplus to the investment budget, it would be supportive of all units and the organization of investment projects for the year 2020-2023."  

He added, "The next government will put its vision within the 2020-2023 budget, but we have the money as a result of the rise in oil prices. There is a surplus that covered the Food Security Law, and this surplus can also contribute to creating job opportunities to reduce poverty and unemployment."

Qusay stressed, "Oil rates are still controlled by international companies through the OPEC agreement, and there is a desire by OPEC to maintain the price of a barrel of oil at a price of 100 dollars for the remaining year of 2022, and there may be a commitment to new cuts in order to control prices."

And he indicated, "Russia cannot currently give up the price of oil for it because it is financing a war, as well as Saudi Arabia and the OPEC countries lost oil revenues from 2014-2021, and they are trying to maximize their revenues during this period and have clear capabilities by creating various strategies."

With regard to the delay in approving the federal budget, Qusay explained, “The Iraqi economy faces a problem to transform it into a global economy, as it needs a budget to finance these goals. The process of linking the port of Faw to the European Union needs funds to be placed in the budget, bank revenues and the currency market.”

And Qusay continued, "As we have 9 million poor people in Iraq, fighting corruption lies in creating job opportunities, and this means that the process of placing Iraq within the global investment circle will provide great opportunities to work through the budget, and the survival of the situation as it is now is considered a waste of public money because there is money that goes to the reserves and there Poverty, unemployment and desertification.
 
He stressed, "the need to rehabilitate all federal ministries, as there are 3 million employees in government institutions, and currently the Ministry of Planning has launched the job number program and collected job numbers for these addresses, matching the specialization with the certificate with the job title, and investing those who have retired since 2019 with more than 300 thousand job degrees."

Qusay concluded, by saying, "Iraq can currently release these degrees through the Federal Service Council, and the 2023 budget has to search for what disciplines are required to raise the efficiency of the performance of the economic unit so that we have productive government ministries."  LINK

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

Samson:  Finance brings good news to political dismissals

5th September, 2022

Today, Monday, the Ministry of Finance issued orders to appoint the first batch of political dismissals, within the law of emergency support for food security and development.

A ministry statement received by Shafaq News stated, "The Director General of the Administrative and Financial Department, Hassan Salman Al-Makotour, signed orders to appoint 80 employees as the first batch of the political dismissed, based on the Emergency Support Law for Food Security and Development No. 2 of 2022 after the availability of the financial allocation."

The ministry indicated that it "is continuing to implement the paragraphs of the emergency support law for food security and development and is working to complete all administrative and financial procedures for the purpose of issuing subsequent meals to those covered by the political dismissal after the financial allocation is available for the purpose of their appointment."

On August 14, the Ministry of Finance issued instructions regarding the powers of disbursement of Food Security and Development Law No. 2 of 2022.

The ministry called on ministries and agencies not associated with a ministry to review the budget department to receive the instructions. LINK