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

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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

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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.. 

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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

Iraqi News Early Wednesday AM 9-7-22

Iraqi News Early Wednesday AM 9-7-22

Tlm724 Administrator Bondlady’s Corner

Al-Kazemi’s Advisor Reveals The Total Value Of Iraq’s Bonds In Global Markets

Economie    Today, 21:42  Baghdad - INA - Nassar Al-Hajj, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Tuesday, the value of Iraq's total international bonds in global markets and the revenues generated.  Saleh said, to the Iraqi News Agency (INA), that  "the international bonds issued by Iraq are divided into two parts.

The first relates to the bond called (Iraq 2028), which represents the dues of the foreign private sector for its debts owed by Iraq and called debts before 1990, which It was discounted by 80% under the Paris Club agreement for the year 2004, and

the remaining receivables, i.e. 20%, were replaced by European bonds that are due to be amortized once in 2028 and are currently traded in buying and selling in the European secondary capital markets, with a total value of 2.7 billion dollars and carrying an annual interest of 5.8%.  

He added,  "The annual interest to the holders is paid according to regular semi-annual schedules, and the management of these bonds is handled by the major international banks in the London market of the undertakers."  

He pointed out that  "the second section was issued in the year 2016, and they consisted of two bonds for Iraq's first with a value of (one billion dollars), and with the guarantee of the United States government and it is called (Tigris), and with an interest paid annually of about 2.4%, and the principal of the bond (Tigris) is paid once in the next year.".

And Saleh continued,  "The proceeds of the aforementioned bond go to the benefit of financing the deficit in the general budget during the war on ISIS terrorist gangs,"

noting that  "the second bond was issued with a value of (one billion dollars) in the year 2016 and was called (the Euphrates) and with the guarantee of the government of the Republic of Iraq and with an interest that increased over 6.7% annually.  

He pointed out that  "the amount went to directly finance the deficit in the general budget in the conditions of the war on terrorism, and it will be paid once in the next year as well,"

noting that  "the lowest category of bonds is worth $200,000, and the bond categories increase in multiples, and the interest is paid semi-annually." To bond holders through major international banks (obligors) until the value of the bond is amortized once in the next year.  

Salih stressed that  "the total value of Iraq's international bonds currently circulating in European markets is about $4.7 billion, and these bonds are subject to Iraq's current credit rating of B, which is part of the country's external public debt to be paid."   https://www.ina.iq/164930--.html

What Is The Role Of Brokerage Firms In Stock Trading?

Economie     Today, 14:18  Baghdad - INA - Mustafa Al-Hashemi  Financial brokerage companies play an important role in achieving profits for investors trading (speculators) in the financial markets and stock exchanges in all countries, including Iraq, by playing the role of mediator in the sale and purchase of shares for companies traded in the Iraqi Stock Exchange.

The financial intermediaries receive orders to buy and sell directly from the investor (the speculator) after offering their vision of the shares and giving advice either to buy or sell and according to the stock index up or down.

According to the Securities Commission, 39 financial brokerage companies operate in Iraq, spread in Baghdad, with capitals of different value ranging between one billion and 250 million dinars.

The way the brokerage companies work is that the investor opens a bank account with one of the financial brokerage companies that the investor decides to choose as his representative in trading shares in the stock market, so that the company nominates a financial broker whose role is limited to providing advice and suggestion to the investor to sell shares when their prices rise or buy them when their prices drop.

The multiplicity of financial brokerage companies is seen as establishing a kind of competition between them to obtain new clients and investors to speculate in the markets, where each company provides a number of services and features that benefit the investor and the company in increasing the number of clients and obtaining a return and a percentage of profits.  https://www.ina.iq/164887--.html

China Exploits "Soft Power" In Iraq: What Should Washington Do?

Reports & Analytics    Iraq    America    breaking    China   2022-09-06 05:37 Shafaq News/ The American newspaper "Washington Times" criticized

Iraq's growing cooperation with China, warning that Beijing is using "soft power" to penetrate the Iraqi economy, especially in the oil sector, in the absence of American interest, taking advantage of its relationship with Iraqi militias and the atmosphere of corruption in the country. Country.

The American newspaper pointed out that after the United States liberated the Iraqi people from the tyrannical rule of Saddam Hussein through the 2003 invasion, two decades later,

China was busy exploiting Iraq's oil-rich resources, by allying with militias in order to gain a foothold in profitable oil sector.

And after the American report pointed out that China had made three attempts so far to control Iraq's oil resources, it was made clear that theIraqi Oil Ministry had thwarted all these attempts.

For example, the report indicated that the Russian "Lukoil" company and the American oil giant "Exxon Mobil" tried to sell their shares in major fields to companies supported by the Chinese government, but the Iraqi Oil Ministry was interfering to prevent this from happening.

He added that the British "BP" was also considering selling a stake to a Chinese company, but Iraqi officials convinced it otherwise.

The report warned that if China had succeeded in this, it might have launched a process of "exodus" by the giant international oil companies, which would have left Iraq open to greater acquisition by China, noting that Iraqi government officials actually expressed their deep concern. In view of the rapid pace with which Beijing is trying to control Iraq.

The report pointed to a demonstration that took place recently near the headquarters of a Chinese oil company in the southern province of Maysan, saying that it sheds light again on the growing Iraqi concern about the Chinese expansion in the oil sector.

The report quoted the Italian research center "Geopolitica" as saying that China is taking advantage of the security vacuum that emerged after the US withdrawal from Iraq, and that

Chinese companies are allying with militias to achieve a strong foothold in the Iraqi oil industry.

The report also quoted the "Financial Times" newspaper as saying that during the year 2021 alone, China concluded deals worth 10.5 billion dollars in the construction sector in Iraq, adding that Iraq is the third largest oil exporter to China, showing its keenness to secure Chinese investments in infrastructure development.

Because many US and European companies are reluctant to place their investments due to rampant corruption and militias targeting US coalition forces and Western interests.

The report considered that China, unlike other parties, was finding ways to operate within this system and in light of the deep corruption and dominance of militias, adding that in light of the fact that Iran is the de facto ruler in Iraq, through its proxies from the military and political groups, and that

China, despite its preference To cooperate with powerful and central state authorities, however, Beijing has found its way to deal with an unstable Iraq.

The American newspaper quoted a report by Fudan University in Shanghai, China, as saying that in 2021, China concluded new reconstruction deals in Iraq worth 10.5 billion dollars, which constitutes one sixth of the investments of the Chinese "Belt and Road Initiative" in that year.

The report stated that  "Iraq has emerged for China as the first trading partner in the region, and it is the third largest supplier of oil to it, after Saudi Arabia and Russia,"

adding that Iraq's proven oil reserves of energy, in addition to its strategic location on the Arabian Gulf and its proximity to the Strait of Hormuz, is of great importance. for the Belt and Road Initiative.

He added that with the US withdrawal from the region, China was motivated to expand its influence, and it is likely that improving economic relations with Baghdad would lead to China's political influence over a period of time.

Experts were quoted as saying that China's role in the reconstruction of Iraq and the strengthening of China-Iran relations leads to accelerating the Chinese presence in Iraq at the expense of the United States, adding that Washington, Tehran and Ankara, which are deeply linked to Iraq, are all watching China's movements in Iraq.

The report also referred to China's shrewd use of "soft power" strategies in order to control countries that need money,

which applies to Iraq in strong contrast to the hard power initiatives pursued by the United States, explaining that "soft power" strategies include economic investments and policies. Non-interference in Iraq's affairs.

He added that Beijing has recently begun to take advantage of post-conflict opportunities through mediation efforts and commercial commitment rather than military intervention,

in addition to its use of its veto at the United Nations several times, as it worked alongside Russia and against the Western bloc over the Syrian war.

In addition, China has become more active in major regional issues such as Afghanistan, and it also wants to prevent Washington from using political and military force in Iraq.

The report concluded by saying that China has a firm interest in the oil and energy sectors, and it is working to establish power stations, factories and water facilities in addition to the much-needed schools in various parts of Iraq the country, which is what the newspaper "Los Angeles Times" indicated.

He noted that dozens of contracts signed in recent years ensured the increasing presence of China at a time when major Western companies, including from the United States, were looking to exit the Iraqi market.

"While Iraqi officials acknowledge that they desire a greater American presence, at the same time they find attractiveness in China's offers for development without the conditions of democracy or democracy," he said.  Now, the report considers that one of the results of this is that Chinese companies dominate the main economic sector in Iraq, ie oil, as they consume 40% of crude oil exports.

Chinese companies also operate in many key sectors, including finance, transportation, construction and communications.

He also pointed out that Iraq has recently finalized terms with the Chinese company "Sinopec" for the development of the Mansourieh gas field, which can produce up to 300 million cubic feet per day.

The report concluded by saying that although Baghdad expressed concern about China's control of Iraqi resources, what is worrying is that Iraq will turn into a puppet in the hands of the Chinese in the near future, adding that the only way to confront these efforts is through the United States strengthening its diplomatic and economic game.

He explained that this means, first and foremost, that Washington must "frame America's strategic competition with China in Iraq as an ideological competition between democracy and tyranny," and

Washington must therefore make diplomatic and economic efforts to strengthen democracy in Iraq, which contributes In strengthening the independence and sovereignty of the Iraqi people.  

He concluded by saying that Washington must present itself to Iraq as "a partner that is more reliable, more supportive and like-minded."

Special translation: Shafak News   https://shafaq.com/ar/تقارير-وتحليلات/الصين-تتغلغل-بـ-القوة-الناعمة-في-العراق-ماذا-يجب-على-واشنطن-فعله

Industry Adopts Four Procedures To Rehabilitate Factories

Economie| 08:13 - 05/09/2022   Baghdad - Mawazine News, the Ministry of Industry and Minerals has identified, today, Monday, four procedures to implement plans to correct the path and rehabilitate factories.

The ministry's media center stated, "The ministry has drawn up plans to correct the path and rehabilitate and reconstruct factories and production lines by relying on sources of financing through development and investment and attracting investments from the local or foreign private sector."

He added,"The most prominent of these plans have been implemented and there are plans in the medium and long term relying on the private sector and logistical support from the state, such as laws and instructions to facilitate investment procedures and create a safe and attractive investment environment."

He continued, "With regard to the past public budgets, there was financial support through investment plans, as the support continued from 2008 to 2014, and stopped due to the entry of ISIS gangs, and most of what was rehabilitated by relying on investment allocations was not completed due to the interruption of the allocation or was destroyed or It was badly affected by the military operations.   https://www.mawazin.net/Details.aspx?jimare=204603

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Wednesday Morning 9-7-2022

TNT:

Tishwash:  The leader of the Sadrist movement, Nassar al-Rubaie, files a lawsuit against Nuri al-Maliki

The Secretary-General of the Sadrist bloc, Nassar al-Rubaie, filed a lawsuit against the head of the State of Law coalition, Nuri al-Maliki, on Wednesday, regarding the audio leaks attributed to the latter.

The lawsuit showed a request to issue an arrest warrant against Al-Maliki and prevent him from traveling.   link

KaseyKo1:  Well, I'm fairly excited that we're about to see a chg made in the rate. I've been watching the sell/buy rates from the dealer I have used closely for the past 12 yrs. I have never seen a large chg in the rate pricing in the short period of a matter of months for the entire time I have been in this venture. From what I've been reading from numerous sources, appears there may be an RI in effect now.

Based on this, I contacted my currency dealer to find out their processes when a rate chg is made, if in-country or int'l rate is used for them to determine what they will charge. Appears in ALL countries, the in-country rate is one of the factors used to determine what they will charge themselves. Couldn't divulge any further info to me on the other factors determining what they will charge.

What I can say is this: In a matter of months, the dinar rate has jumped up a little over double for what I was charged only a matter of months ago. I did read not too long ago an article coming out from the CBI on slowly rolling out the rate chg, so as not to have a great strain on the market effects from the exchange. I can't help but think that we are even closer to seeing the RV now than we have ever been.

From what my dealer told me - who I've used for 12 yrs - each company can have a difference in their factoring mechanisms in determining the rate they will charge. My dealer has always stayed very consistent with their pricing thru the yrs, until now.

KMan:  Something that isn't being widley reported other than on YouTube, are arrests taking place of those that hold positions of power in the government. https://www.youtube.com/watch?v=JMnV-zSEjvs

Maggie:  Iraq is in the same boat we are, if all the corrupt government officials were locked up only the house keeping staff would be left.

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Tishwash: :  Legal: There is no new postponement of the lawsuit to dissolve Parliament, and the Federation will decide on the decision today

 Legal expert Ali Al-Tamimi confirmed, on Wednesday, that the Federal Court will pronounce the verdict on the case for dissolving Parliament today, indicating that the court will not resort to postponing the decision on the case. 

Al-Tamimi said in a statement to /the information/, that "the Federal Court will decide its decision, today, regarding the lawsuit submitted by the Sadrist movement to dissolve the House of Representatives." 

He added that "the Federal Court will not postpone its decision because of the completion of all the corners of the case," stressing by saying, "We will not be able to predict what the court will decide, and when the decision is issued, we will have a word." 

 The Federal Supreme Court had decided, earlier, to postpone its decision regarding the dissolution of the House of Representatives until Wednesday, the seventh of September of this year.  link

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Tishwash: Great anticipation in the Iraqi street for the decision of the Federal Court regarding the lawsuit to dissolve Parliament

The political and popular circles in Iraq are awaiting today, Wednesday, the issuance of the Federal Supreme Court's final decision regarding the case for dissolving Parliament, submitted by the "Sadr Movement".

And political actors in the country confirm that any decision issued by the court today will shape the Iraqi political scene during the next stage.

This comes especially with the anticipation of another Federal Court session at the end of this September, regarding the constitutionality of Parliament Speaker Muhammad al-Halbousi’s decision to accept the resignations of the Sadrist movement’s representatives on June 12, without holding a parliamentary session with a full quorum. The court today's case to dissolve Parliament, the end of the month session will be unnecessary.

And the Federal Supreme Court in Iraq decided, last Thursday, to set a session to pronounce the final ruling on the case brought before it to dissolve the House of Representatives, its date today.

The session will be held at twelve noon today, according to the local time of the capital, Baghdad, inside the Federal Supreme Court building located inside the Green Zone.

The decision of the Federal Supreme Court may throw the ball into Parliament's court and obligate it to proceed with the constitutional entitlements, within a certain period of time.  link

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CandyKisses:  Russian report reveals the backstage of the management of the Iraqi economy in the absence of a budget - urgent

Baghdad - NAS  

A Russian report highlighted how the Iraqi economy is managed in the absence of a state budget.     

  The report prepared by Sputnik and followed by NAS, (September 6, 2022), said that "there is a law for financial management in Iraq in the absence of a general budget for the country due to circumstances beyond its control, a law that allows the state to divide its resources by 1 by 12, i.e. resources are divided monthly, and through this system the main expenses of salaries, wages and necessary expenses are paid, while the investment budget stops, according to the Iraqi economist Salam Smaisem."  

 The full text of the report is as follows:  

More than two years have passed since the work of Iraq's general budget was halted amid political confusion, which in turn has created uncertainty in the crisis economic reality.  

This came as a result of the country's resources relying more than 90 percent on oil resources to finance government activities and pay pensions and salaries.  

What methods does the Iraqi Government rely on in the conduct of its financial affairs in the absence of a budget, how are disbursements, controls, resource collection processes carried out and the future status quo is based on other service activities?  

First of all, Iraqi economist Adel al-Ashram says, it is known that the Iraqi economy depends primarily on oil resources, as Iraq is one of the leading oil countries in the Arabian Gulf.  

Oil Revenues  

"During the past years, many previous Iraqi governments have sought to diversify sources of revenues, as they aimed to create new sources of revenue for the budget and not to rely entirely in the budget on oil revenues only, where there was an advanced Iraqi industry and agricultural and commercial activity, and also there was an activation of activity related to other resources such as car trade and others, and all of the above were important factors contributing to building the economy and reflecting on the lives of people in this country.  

The economist continued: "But after 2003, all sectors related to the agricultural, industrial, commercial and service fields that have to do with local industrial activity stopped completely and we witnessed a process of transformation within external bodies supporting activity and economics outside the borders of Iraq that take advantage of the effort or accumulation related to the materials in Iraq to sustaintheir economic activity.  

He added: "The Iraqi economy was disrupted after this period and oil remained because it has benefits for the agenda that controls Iraqi affairs, whether the internal agenda linked to the outside, or the external agenda that imposed the internal agenda associated with the outside and these come through deals, and through extortion, not to mention what is smuggled from this important resource, and what comes from it of money that also goes to serve this agenda."   

Disrupted economy  

Adel al-Ashram pointed out that the government relies mainly on resources that come from oil through a fund calledasovereign or federal fund located outside Iraq, but within the framework of a smooth flow that the government gets in case of passing salaries and doing some partial projects and arms deals.  

"Lawmakers always seek to adapt them to the state of balance between expenditures and revenues, that is, there is no real budget that takes into account the issue of sound economic construction," he said, adding: "The Iraqi economy is completely disrupted."  

Financial Management Law  

For her part, Iraqi economist Salam Smasim says that there is a law for financial management in Iraqin the absence of a general budget for the country due to circumstances beyond its control, a lawthat allows the state to divide its resources by 1 by 12, that is, resources are divided monthly, and through this system the main expenses of salaries, wages and necessary expenses are paid, while the investment budget stops.  

"Another way is the food security law passed by the current Iraqi parliament, which is an emergency law, and in fact it is like an urgent plan for spending, under which there are 53 billion dinars that will be for the necessary expenses," she added.  

"The law also included some aspects of investment, as the Iraqistate is now followingthis pattern, and frankly we do not currently have more than that in terms of economic legislative flexibility."    

Absent transparency  

The economist continued: "We are waiting now, because there can be no general budget for the state unless the Iraqi parliament approves it by law, and as long as the parliament is not closed there is no general budget."  

On Iraq's achievement of a large surplus of oil sales and its going to borrow from the International Monetary Fund, Salam Smasim said: "The loan policy follows the policy of the government, and oil revenues no one knows where they are."  

"It is normal for these funds to be with the ministry, and therefore all public expenditure dues are paid," he added.  

"I asked for transparency on those things but we don't know which of those money went."  

Iraq has witnessed bloody clashes that killed more than 30 people and a large number of injured people after supporters of the Sadrist Movement stormed a number of government headquarters in Baghdad, immediately after the leader of the movement, Muqtada al-Sadr, announced his retirement from political work.  

Supporters of the Sadrist Movement withdrew from the street, in compliance with the directives of the leader of the movement, who criticized what he described as the "revolution" and the violence that permeated the protests.  

The decision of Iraqi leader Muqtada al-Sadr to retire from politics comes months after the movement fought against the "coordination framework" (which includes Shiite parties and forces) to form a majority government, after the Sadrist movement won a majority in parliament.  

Mot My Guardian Angel Was YOUNG and Energetic when I started this TNT Journey... Now Look at Him !!!!!

He Started Out Sooo Positive !!

siiiiiggggghhhhhhh -- and Now!!!!

Iraqi News Tuesday Afternoon 9-6-22

Iraqi News Tuesday Afternoon 9-6-22

Tlm724 Administrator Bondlady’s Corner

An American Official: The United States Pursues A Policy Of Not Making Iraq An Arena For Conflict With Others

Political | 05:27 - 06/09/2022   Baghdad - Mawazine News   National Security Adviser Qassem Al-Araji received, in his office today, Tuesday, US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf, and her accompanying delegation, in the presence of the US Ambassador to Iraq, Mrs. Alina Romanowski.

Al-Araji reviewed, with the US Assistant Secretary of State, the most prominent political issues and developments in Iraq and the region, in addition to discussing the file of the Syrian al-Hol camp, the fight against terrorism and drugs, and the strengthening of cooperation and partnership frameworks between Baghdad and Washington, to serve the common interests of the two countries.

Leaf stressed that the United States pursues a policy of not making Iraq an arena for conflict with others, expressing her country's aspiration for Iraq's progress and success at all levels.

For his part, Al-Araji indicated that Iraq needs balanced relations with everyone, based on respect for its sovereignty, cooperation and partnership, in order to achieve security and stability in the region.

https://www.mawazin.net/Details.aspx?jimare=204689

Parliamentary Finance Resolves The Controversy Over Next Year's Expenditures With No Budget

Money and business  Economy News _ Baghdad  Today, Tuesday, the Parliamentary Finance Committee resolved the controversy over the absence of a budget law for the next year, while warning of the accumulation of major mistakes.

Committee member Sajjad Salem said, in an interview with the Iraqi News Agency, and followed by “Economy News”, that “in the event that a financial budget law is not issued for the next year, it is possible that the disbursement will take place in accordance with the Financial Management Law 12/1 of the 2021 budget in 2023, as happened of the current year.”

He added that "the budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state's finances."

Salem pointed out that "the financial surplus is preferred to be invested in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way," noting that "we need a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy."

The technical advisor to the Prime Minister, Haitham al-Jubouri, announced, earlier, that salaries would not be affected by the existence of the budget or not, while he explained the possibility of passing a law granting the current government to dispose of the financial surplus.

38 . views   Added 09/06/2022 - 1:31 PM   Update 09/06/2022 - 6:03 PM

https://economy-news.net/content.php?id=29589

Sources Reveal Details Of The Federal Court's Decision Regarding The Dissolution Of Parliament

Political | 05:16 - 06/09/2022   Baghdad - Mawazine News  Informed sources revealed, today, Tuesday, details of the ruling of the Federal Court, claiming the dissolution of Parliament.

The sources said in an interview with "Mawazine News" that "the Federal Court will explain the response to the lawsuit within Article 64 of the Constitution, which states that the dissolution of parliament is either by the parliament itself or at the request of the President of the Republic."

He added, "The court will issue recommendations on dissolving parliament and holding early elections, but not decisions."

And she indicated, "The court will hold its session at midday tomorrow, Wednesday."

Article 64 of the constitution stipulates the following:

First: The Council of Representatives is dissolved, by an absolute majority of its members, at the request of one-third of its members, or a request from the Prime Minister and with the approval of the President of the Republic. The Council may not be dissolved during the period of questioning the Prime Minister.

Second: The President of the Republic, upon dissolving the House of Representatives, calls for general elections in the country within a maximum period of sixty days from the date of the dissolution, and the Council of Ministers in this case is considered resigned, and continues to run daily affairs.

https://www.mawazin.net/Details.aspx?jimare=204687

Iraq Maintains Its 30th Rank In The List Of Major Gold Hoarders

Market   Economy News _ Baghdad   Today, Tuesday, the World Gold Council announced that Iraq has maintained its 30th rank globally among the largest countries in possession of gold reserves.

In its latest schedule for the month of September 2022, which was seen by Al-Iqtisad News, the council said that "the global central banks added 37 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Qatar (15 tons)," While the regular buyers of India were (13) tons, Turkey bought (12) tons, and Uzbekistan bought (9) tons.

He added that "Kazakhstan was the only prominent seller in this month, as it sold (11) tons of gold."

He pointed out that "Iraq maintained its global position after it rose 10 ranks last month after purchasing 34 tons of gold to rank 30 out of 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 9.5% of the rest of its other reserves. ".

He explained that "Iraq has become the fourth largest Arab gold reserve after Saudi Arabia, Lebanon and Algeria, after it was sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

globally; The United States of America still leads the rest of the countries with the largest gold possession in the world, with 8.133 tons, followed by Germany, 3.355 tons, and then Italy, 2,451 tons.

The Republic of Cuba ranked 100, with one ton, preceded by the Islamic Republic of Mauritania, with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

48 . views   Added 09/06/2022 - 1:27 PM  Update 09/06/2022 - 6:08 PM

https://economy-news.net/content.php?id=29588

Integrity Calls For Activating The Local Product Protection Law

Today, Tuesday, the Federal Integrity Commission called for the activation of the local product protection law (eggs, chicken and fish), and the establishment of tight import controls to secure the protection of the product, taking into account the protection of the consumer.

In a report prepared by its field team to the Ministry of Agriculture - Department of Planning and Follow-up, the Authority's Prevention Department stressed the importance of the Ministry reactivating the work of the single window system when opening the import door on a specific product, to prevent any case of Corruption cases, pointing to the need to publish the materials to be imported according to the agricultural calendar before the scarcity season, to ensure equal opportunities among importers, pointing to the importance of avoiding issuing sudden decisions to open and close import and export without specifying the quantity, which leads to flooding the market with products, and exposing the national losses.

He added that "the report, a copy of which was sent to the Office of the Prime Minister and Minister of Agriculture and the Committees (Integrity, Agriculture and Economic Affairs) in the House of Representatives, recommended paying the dues of the owners of the affected projects, as a result of infection with epidemic diseases if destroyed in accordance with Article (38) of the Animal Health Law No. ( 32 of 2013) through the establishment of a special fund to support these cases, and the involvement of national insurance companies in this sector, as well as increasing the support provided to farmers by providing fertilizers, seeds, pesticides, modern irrigation systems and agricultural machinery, granting loans to raise the level of production and activating a program to develop the poultry sector along the lines of What was in place for the period (1998-2004) to achieve self-sufficiency in chicken and eggs.

He continued, "The report suggested coordinating work between the Ministries of Agriculture and Water Resources to develop solutions to overcome the difficulties of fish production reaching levels that ensure self-sufficiency, addressing the issue of license renewal fees imposed on fish farmers, ending the file of compensation for dead fish, and developing solutions to resolve the issue of collecting fee amounts.

Renewing the accumulated licenses owed by the owners of the fish lakes, and not claiming them, has encouraged many fish farmers to exceed, and some of them were subjected to extortion and demand for bribes, to ensure that they are not harassed while they work illegally.

And he indicated that "the report also monitored a lack and slowness in the dissemination of modern irrigation technologies in all regions, especially those that complain of high salinity and water scarcity (in the central and southern regions), calling for "the distribution of modern irrigation systems in a fair manner between the governorates and according to need, for And reconsidering its cost,

in addition to intensifying agricultural extension activities to educate farmers about its use, and setting plans to establish and maintain sewage treatment and purification plants and make them suitable for agricultural use.”

The report pointed out, "The Ministry of Agriculture has no control over the products entering through the Kurdistan region, despite the formation of a committee to calculate the production capacity of the region's poultry plants and farms, which concluded that the quantity of materials entering through the region exceeds times the production capacity of its facilities, and this is an indication of the existence of corruption accompanying the process of importing materials Imported as a national product,

in addition to the delay in releasing the quantities of imported fodder from the Kurdistan region, which takes place without the certification process of the laboratory examination certificate by the Ministries of Agriculture and Water Resources in the region, as a result of the laboratory examination conducted by the Department of Livestock in Baghdad exclusively.

The report pointed out, “The lack of accurate statistics for livestock and poultry projects, the lack of registration of small projects, and the lack of projects for large cow milk stations, as a result of the lack of guarantees of coordination with the supporting authorities to transform the stations into productive and economically viable and accurate data on the numbers of agricultural machinery and equipment, in addition to the fact that the Ministry of The water resources are draining and cleaning rivers during the fish breeding season, which leads to the raising of their eggs and their non-reproduction, bearing in mind that the draining process takes place in the last quarter of the year.    https://www.radionawa.com/all-detail.aspx?jimare=31060

Oil Prices In World Markets

Economie| 08:33 - 06/09/2022   Follow-up - Mawazine News:   Oil prices fell early today, Tuesday, to pare the previous day's gains of three percent, after the OPEC + group's agreement to cut production by 100,000 barrels per day in October was considered a largely symbolic move to stop the decline in prices.

Brent crude futures fell 33 cents, or 0.3 percent, to $95.44 a barrel by 0054 GMT.

US West Texas Intermediate crude futures rose to $89.13 a barrel, and increased by $2.26, or 2.6 percent, from Friday's close. Markets were closed in the US on Monday for the Labor Day holiday.

The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, called OPEC+, agreed to reverse a 100,000 bpd increase in September after Saudi Arabia and other members expressed concern about the decline in prices since June despite tight supplies. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=204631

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Tuesday Afternoon Iraq Parliament News Highlights 9-6-22

Tuesday Afternoon Iraq Parliament News Highlights 9-6-22

The First Dialogue After The Events Of Al-Khadra: A Committee To Repeat The Elections And Change The Law Of The Commission

Posted On2022-09-06 By Sotaliraq   Baghdad / Tamim Al-Hassan   At a time when a political summit was being held at the Government Palace in Baghdad, Muqtada al-Sadr, the leader of the Sadrist movement, renewed his famous phrase in which he refuses to submit to "Eastern or Western" agendas.

And it was understood from the timing of the new “tweet” that it came in response to leaks about the presence of foreign hands trying to take the political forces gathered to boycott the movement to another direction.

In his "last tweet", al-Sadr hinted at the continuation of his alliance with other parties that share with him the approach of neutrality and Iraq in taking political decisions.

Those close to the Sadrist movement told Al-Mada that "the movement boycotted the dialogue session because the leader of the movement was clear regarding the negotiations when he requested that they be public."

Al-Sadr revealed last month that the coordination framework rejected the "public dialogue" initiative that he had presented to Jeanine Plasschaert, the United Nations representative in Iraq.

And concluded the first meeting after the Green clashes, in which the presidencies participated in the presence of Blackshart, to repeat the same recommendations in the first meeting that took place last August, and re-demand from the Sadrists to join the dialogue.

During the second round of the national dialogue, which was attended by all forces except the current, al-Sadr called for the continuation of reform, as he reiterated his commitment to the "Iraqi" decision and not to be subordinate to any eastern or western party.

According to those close to the movement, "the meeting had Iranian interventions that tried to pressure to proceed in forming the government and not pay attention to the opposition leader of the Sadrist movement, which did not happen."

Al-Sadr said in a tweet yesterday on Twitter: "Continue to reform, no matter what happens. I and my companions are neither easterners nor westerners. No one will rule over us (Ibn al-Dua'i) whoever he is."

On the other hand, the government statement after the meeting, which took place at the invitation of Prime Minister Mustafa Al-Kazemi, concluded with 6 points, which are:

1. The conferees affirmed that the developments in the political situation and the differences that led to it bear the national responsibility of everyone in maintaining stability, protecting the country from crises, supporting calm efforts, preventing escalation and violence, and adopting a national dialogue; To reach solutions, they stressed the need to continue the national dialogue sessions.

2 The meeting decided to form a technical team from various political forces; To mature common visions and ideas about the road map for a national solution, and to bring the views closer; In order to reach early elections and fulfill their requirements by reviewing the electoral law, and reconsidering the commission.

3- The attendees emphasized the activation of institutions and constitutional entitlements.

4 The meeting renewed the invitation of the brothers in the Sadrist movement to participate in technical and political meetings, to discuss all controversial issues, and to reach solutions to them.

5- The conferees stressed the necessity of purifying the atmosphere between the national forces, including preventing all forms of escalation, rejecting speeches that are issued or leaked and that cause damage to historical brotherly relations, and address them through the available legal means, in a manner that preserves the dignity of the Iraqi people, their feelings, their entitlements, and respect for religious considerations. political, and social.

6- The attendees stressed the need to achieve reform in the structure of the Iraqi state, and to value the demands to address any imbalance in the political or administrative frameworks through the necessary legislation and effective government programs, with the cooperation of all political forces, and with the support of our dear people, including discussing the foundations of constitutional amendments. And adherence to constitutional options in all stages of dialogue and solution.

The day before yesterday, Parliament Speaker Muhammad al-Halbousi had stipulated 10 conditions in return for attendance, most notably setting the date for early elections and reinterpreting the largest bloc, while the "framework" refused to set preconditions.

The steadfastness of the armistice

In addition, the unwritten "truce" between the Sadrist movement and the parties in the coordination framework has been holding since last Friday, despite the presence of a security escalation.

Yesterday, fears emerged of a return of the wave of assassinations in the south of the country, after two previous waves in Maysan, which is the city of the traditional conflict between the movement and some armed parties.

According to security sources, a shooting incident at the car of a high-ranking national security officer in the south of Al-Amarah (the center of Maysan governorate), led to the death of two and the injury of others.

According to the sources, Brigadier General Qassem Daoud (National Security) was killed in the accident, while there were conflicting reports about the killing of another officer in the same vehicle after they were exposed to fire from unknown persons in an area called Al-Tawahin between Al-Amarah and Basra.

The protection of the high-ranking officer was also injured during the incident, while the victim officer had earlier participated in arrests against armed factions in the province.

It is believed, according to those security sources who spoke to (Al-Mada), that "Maysan is the site of a security escalation between the Sadrist movement and some factions that are trying to confuse the former, considering the city as one of the most important strongholds of the Sadrists."

Last May and June, two officers were killed in Maysan, who were working to arrest suspects in corruption cases, three months after similar assassinations in the same city of an officer and a judge.

At that time, well-informed political parties told Al-Mada that the security escalation in Maysan came after Al-Sadr's warnings of assassinations affecting his partners or he personally.

Those parties pointed out at the time that the danger in the expected assassinations was that they were led by a group called "the pumice" in relation to their speed of execution.

And these “khafafs” are accused of killing a number of activists and journalists during and after the October demonstrations in 2019, and they are secretly affiliated with armed factions.

The political parties revealed at the time that the team members were expelled by some well-known factions - whose names were not mentioned at the time - even if they were arrested, no party could be accused of being behind those assassinations.

In the capital, a mortar shell fell at dawn yesterday near a telecommunications company in the Al-Arasat area in central Baghdad, while the security services did not comment on the incident.

News platforms published pictures of the damage to part of the company's building, while sources from the region confirmed to (Al-Mada) that "the accident was caused by the fall of a mortar shell," while the company surrounds the headquarters of factions in the Popular Mobilization.

Al-Sadr's circles had revealed their belief that the parties behind a fire that broke out at dawn last Sunday in a commercial complex in Al-Shula area, west of Baghdad, was carried out by a "mortar" as well, as the complex belongs to one of the followers of the movement.

A truce described as "fragile" began after the clashes in Baghdad and Basra at the end of last week, which included the withdrawal of the "framework" from holding a parliament session and forming a government until after the Arba'een visit (after mid-September).

Armed factions accused of being behind the violence that took place in the capital and the south of the country have closed their headquarters until further notice in compliance with the truce.

On the other hand, the Sadrists, in turn, retreated from the escalation, and Saleh Muhammad al-Iraqi, known as "the Leader's Minister", stopped publishing "tweets" for the third day in a row.   LINK

A Second Round Of National Dialogue In The Absence Of My Chest And Six Outputs, Without Interaction From Tenderness

Posted On2022-09-06 By Sotaliraq   A second round of national dialogue called for by Mustafa Al-Kazemi, head of the caretaker government, was attended by the presidencies and the leaders of the blocs, and absent from it was the representative of Muqtada Al-Sadr, the leader of the Sadrist movement for the second time.

The outcome of the session did not touch the minimum conditions of the leader of the movement, as there is no declared decision to dissolve parliament and hold early elections, nor does a transitional government pave the way for that.

Ehsan Al-Shammari, a political analyst, told UTV that "this session shows the depth of the crisis between the political parties on the one hand and the Sadrist movement on the other."

What distinguishes the outcomes of the second round of dialogue from the first is the consensus to form a team of various political forces to discuss a road map that compensates for a dead end between the coordination framework and the Sadrist movement, hoping that Hananah will have a presence in the expected third round, and the session was devoid of talk about forming a framework government because Sadr's position on it even after his retirement from politics.

Salam al-Zubaidi, a spokesman for the victory coalition, told UTV that "the meeting did not address any talk about a new government or the name of the prime minister, because there is rejection and congestion in the street, and also a rejection from the Sadrist bloc, and therefore any attempt to name a prime minister or form a government is far from Compliance with the pectoral block will not be successful.”

A source from the Kurdistan Democratic Party told UTV that the party would not be a party to the formation of any government before it gets full guarantees for the implementation of the agreed terms.

The second round of the national dialogue comes a day after Parliament Speaker Muhammad al-Halbousi presented a road map saying that it is not possible for the political process to proceed without agreement on it. LINK

Al-Maliki's Coalition: Choosing An Alternative To The Sudanese Is Debatable

Political | 08:45 - 05/09/2022   Baghdad - Mawazine News   The State of Law coalition revealed, on Monday, the possibility of choosing an alternative to Muhammad Shia Al-Sudani, the candidate for the coordination framework to head the next government.

The representative of the state of law, Ahmed Al-Fawaz, said in a television interview followed by / Mawazine News / that the political conflict requires that all forces bear the responsibility to open the door for dialogue, calling on the political forces to initiate the formation of a service government that is responsible for approving the federal budget.

Al-Fawaz pointed out that the formation of a transitional government with full powers to restore bridges of confidence with the citizen and ensure the success of the democratic process.

He added, "The Kurdish forces must resolve the issue of choosing the president of the republic in a consensual way or through the political space."

Al-Fawaz stressed that the framework candidate for prime minister is Muhammad Shiaa Al-Sudani, noting that the political process cannot depend on a specific person.

He continued, "The choice of an alternative to the Sudanese is debatable and subject to viewpoints in the interest of the Iraqi people."   https://www.mawazin.net/Details.aspx?jimare=204607

Talabani Is In Baghdad Soon To Complete Al-Amiri's Mission

Posted On2022-09-06 By Sotaliraq   The Patriotic Union of Kurdistan confirmed, on Monday, that the meetings held by the head of the Al-Fateh Alliance Hadi Al-Amiri with the heads of the Kurdish parties came out with positive results, while revealing an upcoming visit to the President of the Union, Bafel Talabani, to Baghdad to complete Al-Amiri's mission.

The leader of the Patriotic Union, Ghiath al-Sorji, said in a statement that "the mission of the head of the Al-Fateh Alliance to meet with the leaders of the political forces in the Sulaymaniyah province, led by the head of the Patriotic Union of Kurdistan, Bafel Talabani, was not difficult because the relationship between the coordination framework and the Patriotic Kurdistan was originally compatible."

Al-Sorji added, "Al-Amiri's meeting with the heads of the Kurdish parties in Sulaymaniyah came out with positive results and a welcome for Al-Amiri's initiative to call for a comprehensive national dialogue for all Iraqi political forces."

He added that "the meeting that brought together al-Amiri and Talabani did not address the issue of choosing the president of the republic or holding a session of parliament, but rather focused on the issue of the comprehensive national dialogue to exit the stifling political crisis."

Al-Sorji pointed out that "the head of the National Union, Bafel Talabani, will visit Baghdad in the coming days to hold meetings with all political leaders, including the leaders of the coordination framework for the same issue."    LINK

Leader By Law: 20 Political Blocs Support Amending The Electoral Law

Posted On2022-09-06 By Sotaliraq   The leader of the State of Law coalition, Turki Al-Atabi, revealed, on Monday, that there are more than 20 political blocs that support amending the terms of the electoral law in Iraq.

Al-Otabi said in an interview that “an important part of the political crisis in the country is due to the mistakes and loopholes in the election law, which we warned early on of its repercussions,” noting that “the current events are the result of a law that was not just and fair to all.”

Al-Otbi added, "More than 20 political blocs in Iraq support making fundamental changes to the provisions of the election law in a manner that achieves transparency and fairness and guarantees the votes of voters from all shades," noting that "the holding of early elections depends on the return of the parliament, which is the one who decides as the representative of the people of all stripes."

He pointed out that "the political crisis in the country cannot be resolved without the parliament's sessions returning to their normal state." Finished/ 25 F   LINK

Parliamentary Tendency To Withdraw The Hand Of The Governor Of Salah Al-Din: "Weak" And Did Not Fight Corruption

Sumerian special   2022-09-06 | 07:19   918 views   Alsumaria News - Salah al-Din, the representative of Salah al-Din Governorate, Mahdi Taqi Amerli, revealed today, Tuesday, a tendency to collect parliamentary signatures to withdraw the hand of Governor Ismail al-Halloub, while submitting a request to the caretaker prime minister, Mustafa al-Kazemi, on this issue.

Amerli said in an interview with Alsumaria News, "The amounts spent by Salah al-Din Governor Ismail al-Halloub since taking office, there has been no change in the governorate and we have not touched anything of it," noting that his decisions are weak, and we as Salah al-Din's representatives are not satisfied with this current situation in the governorate from Significant marginalization of regions at the expense of others

He added, "The northern and southern regions of Salah al-Din suffer from marginalization in the management and implementation of projects." Amerli

explained that "the governor is unable to manage the security file despite his being the head of the security committee," adding, "We need a governor to adapt himself to work in all cities of the province without discrimination."

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He continued, "Al-Halloub is very weak in moving corruption files in the province, but we, as a supervisory committee, will do our part and move these files."  LINK

New Details About The Judicial Investigation Of The "Leaks Of Al-Maliki"

Shafaq News/ An informed judicial source revealed, on Tuesday, new details regarding the investigation opened by the Supreme Judicial Council, regarding the audio leaks of the leader of the State of Law coalition, Nuri al-Maliki.

The source told Shafak News Agency, "The investigations are still ongoing in accordance with legal and fundamental procedures, and this file has not been closed."

And he indicated that "there are many specialized bodies participating in this investigation to reach the facts, and there is no pressure on the judicial authorities to close this file. Rather, there is a legal process that the investigation authorities are going through to announce the results in the near future."

On the nineteenth of last June, the Supreme Judicial Council announced that the Karkh Investigation Court (in Baghdad) had received a request submitted to the Public Prosecution to take legal measures regarding the audio leaks.

In his speech, according to the recordings published by journalist blogger Ali Fadel, Al-Maliki touched on topics related to Sunni Arabs that were considered sectarian, in addition to describing the "popular mobilization" as "a nation of cowards", while talking about arming clans and groups estimated at 20,000 fighters on the ground, asking him for support. Financially, logistically and legally, and he promised to provide this, in order to protect him from the leader of the Sadrist movement Muqtada al-Sadr, who wants to "slaughter everyone," according to Al-Maliki.

The former prime minister also spoke about "financial and administrative corruption" in the PMF, and about the fact that the "Badr" organization, led by Hadi al-Amiri, receives financial salaries for about 40,000 people, while it does not have that number on the ground.

After these recordings, the leader of the Sadrist movement, Muqtada al-Sadr, asked al-Maliki to surrender himself and those who sought refuge from the corrupt to the judicial authorities.

The "Technology for Peace" team, the most famous Iraqi technical team, had confirmed the authenticity of the recordings attributed to al-Maliki, and said that they were "not fabricated", noting in a report published earlier, that "despite the repeated denials of the owners of those recordings, and his claim I fabricated it by quoting and fitting excerpts from his voice to appear in this way, but the observations we made about the audio clip prove otherwise.  LINK

Tuesday Afternoon Iraq Economic News Highlights 9-6-22

Tuesday Afternoon Iraq Economic News Highlights 9-6-22

Iraq Is On The Verge Of A "Real Catastrophe" That Affects 40 Percent Of Its Population

2022-09-06 0   Shafaq News/ The Union of Agricultural Societies confirmed, on Tuesday, that the water scarcity has greatly affected the cultivation of agricultural crops, and the agricultural plan in general, and while referring to a "disaster" expected to occur during the coming period, it demanded that the direct government negotiate with neighboring countries to release a quota Water Iraq.

The head of the union, Hassan Al-Tamimi, told Shafaq News Agency, "The agricultural plan for this year is suffering greatly, as a result of the Ministry of Water Resources not giving the full quota to farmers and peasants, due to the scarcity of water in the level of the Tigris and Euphrates rivers, as Iran cut off eight tributaries from Iraq, and in At the same time, Turkey does not give an adequate share of the Tigris and Euphrates rivers to Iraq, which has negatively affected the cultivation of agricultural crops.

Al-Tamimi added, "Therefore, you see that most of the Iraqi lands have become desertified, and in the absence of rain in this season, a real disaster will occur in the cultivation of agricultural crops, and great damage to the segment of peasants and farmers throughout the Iraqi provinces."

The head of the Union of Agricultural Associations warned of the possibility of a large migration from the countryside to the city, indicating that "this reverse migration will cause a disaster and great pressure on cities, which suffer from confusion, lack of services and the housing crisis, and this is expected to happen if the government does not take measures and start negotiating with neighboring countries".

And he continued, "Therefore, everyone, even the heads of the blocs, must leave their differences aside, and not keep fighting over positions, leaving the Iraqi farmer with this ordeal that will end many of their families. Everyone knows that from 35 to 40 percent of the population of Iraq are peasants and farmers, or Those who work in agriculture, and its interruption will lead to the interruption of most ways of life.”

At the conclusion of his speech, Al-Tamimi warned that “dependence on oil does nothing for this society, which is mostly a purely tribal, peasant society, so we ask Prime Minister Mustafa Al-Kazemi to intervene personally and lead a negotiating team with neighboring countries to release Iraq’s water share from Turkey and Iran.”   LINK

India: Most Of Our Oil Supplies Will Come From Iraq And Saudi Arabia

Energy    Economy News _ Baghdad   India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said that most of his country's crude oil supplies in the near future will come from Gulf countries, especially Iraq and Saudi Arabia, as they seek to secure an affordable energy base.

Indian refineries have been buying relatively cheap Russian oil, which Western companies and countries have shunned since sanctions were imposed on Moscow over what it calls a "special military operation" in Ukraine.

India's imports of Russian oil increased 4.7 times, or more than 400,000 barrels per day, in April and May, but declined in July.

India decreased its oil purchases from Iraq in July by 9.3% compared to June to less than one million barrels per day for the first time in 10 months, but Iraq remained in first place as the largest exporter of oil to India.

Crude oil imports from Saudi Arabia by the world's third largest importer and consumer of oil in July rose by more than 25% after Saudi Arabia lowered its official selling price in July to keep Saudi Arabia in third place among India's suppliers.

Although oil imports from Russia fell 7.3% in July from June levels, Moscow remained the country's second largest oil supplier after Iraq.

Puri said that by the end of the fiscal year on March 31, 2022, India's purchases from Russia accounted for only 0.2%, but later rose as the global situation turned "problematic". Europe buys it from Russia.

15 . views   Added 09/06/2022 - 9:03 AM   Update 09/06/2022 - 1:15 PM

https://economy-news.net/content.php?id=29582

Iraq Cuts Oil Production By 12 Thousand Barrels Per Day Under The OPEC Plus Agreement

Energy    Economy News _ Baghdad  The oil production quotas of OPEC + countries will return next October to the levels of last August.   Iraq's production in October will be 4.651 million barrels per day, a decrease of 12 thousand barrels per day from September.

The OPEC Plus alliance announced a reduction in oil production by 100,000 barrels per day in next October, in light of the current fundamentals of the oil market, explaining that the increase in production by 100,000 barrels per day was intended for the month of September only.

Views 125   Added 09/05/2022 - 5:16 PM  Update 09/06/2022 - 12:25 PM

https://economy-news.net/content.php?id=29578

Expert: 30% Of Non-Oil Revenues Were Not Included In The Budget!

Article at link:   https://baghdadtoday.news/ar/news/199857/A

Fitch Expects The Iraqi Economy To Grow By 8% In 2022

Fitch Ratings Agency   9, 06, 2022   Mubasher: Fitch Ratings expected the real GDP growth of Iraq by about 8% in 2022, after it was 3% in 2021.

Today, Tuesday, the agency stated that the increase in average annual oil production will lead to a recovery of 11% in oil GDP in 2022, which was a constant average in 2021, despite the increase in production rates in the second half of 2021.

The agency added that rapid lending growth, backed in part by lending initiatives from the Central Bank of Iraq, will drive non-oil growth by 4% this year, according to the Iraqi News Agency.  LINK

5 Million Employees And Retirees Whose Salaries Consume Half The Country's Budget... And The Numbers Are Rising

Baghdad / Obelisk: The number of government employees for whom the state spends tens of billions of hard currency annually to pay their wages is swelling, at a time when thousands are demonstrating to obtain a government job.

With a shocking comparison, in 2003 the number of employees was only 850,000, while in 2022 the number of employees reached more than 5 million employees and retirees, or nearly a quarter of the total population of Iraq.

The shocking numbers of employees, in addition to parliamentarians and presidencies, their salaries make up nearly 50% of the country's budget.

It is expected to deplete the oil resources, which constitute the bulk of Iraq's financial revenues, due to the continuous inflation of staff preparation, which comes in parallel with the failure of the concerned authorities to develop plans and studies to avoid problems.

Mazhar Muhammad Salih, adviser to the Iraqi prime minister for economic affairs, says that the state's philosophy after 2003 relied on distributing oil revenues to employees, where each employee supports five people with the aim of creating prosperity, but this philosophy in the long run harms the country greatly.

Iraqi economist Salam Zaidan believes that governments have adopted unsuccessful strategies in managing the country's economy, as the number of employees has increased in a very frightening manner.

The academic, Sajjad al-Baghdadi, attributes the increase in the number of employees to the electoral propaganda of the ruling political parties since 2003, in addition to the fact that some parties took control of the ministries and made random appointments.

The researcher, Amir Abdul-Hussein, explained that the inflation of the government apparatus during 10 years was due to the absorption of the job seeker through state institutions, which in the absolute majority were not productive, and because most political forces considered this a tool to increase their popularity.

The current solutions are divided into several levels, one of which is the construction of huge numbers of factories and production institutions, and the restructuring of the government apparatus so that hundreds of thousands of them move to these productive bodies, to get rid of their financial and administrative burdens.

Inflation comes with the preparation of employees, in parallel with the repeated demonstrations of thousands of graduates demanding government appointments.   Prepare carpet khafaji    https://almasalah.com/archives/15744

Tuesday AM Iraq Parliament News Highlights 9-6-22

Tuesday AM Iraq Parliament News Highlights 9-6-22

Parliament Opens Its Doors To Continue Legislative And Oversight Work

Iraq  11:58 - 09-06-2022   Today, Tuesday, the House of Representatives reopened its doors to its employees and representatives in order to practice legislative work and hold parliamentary committee meetings again.

And the representative of the State of Law coalition, Aref Al-Hamami, stated that “the cadres working in the parliament building finished their work, at a time when the head of the council instructed the employees to work inside the building by 100 percent, as the parliamentary committees will resume their work and meetings again, starting today.”

Al-Hamami pointed out that “the presence of the deputies in the parliament came after the injunction of the president of the council in order to coordinate their work, rearrange the work of the parliamentary committees, continue the legislative and oversight work, and activate the role of this authority’s work again.” https://kirkuktv.net/AR/Details/8699

The Political Scene In Iraq: Fear Of A Calm Before The Storm

Sumerian special   2022-09-06 | 03:09   Source:  Sumerian  538 views   Observers: ambiguity and closure dominate the political scene and fear of a calm before the storm

While the current political situation is witnessing a relative calm, ambiguity still dominates the scene, especially with the absence of solutions to the current crisis.

The suffocation increases and the scene becomes complicated, with the absence of solutions to the crisis that still exists, although the situation prevails in calm that coincides with the approaching date of the Arbaeen visit of Imam Hussein, peace be upon him, and after that, not everyone sees any signs of overcoming the pitfalls, which need to make political concessions from by all sides.

As for others, they put forward the scenario of re-working Parliament and starting moves to form a government, regardless of the continued objection of the other parties.

Meanwhile, popular concern and fear of the escalation of events, which may have negative repercussions similar to the above, affect the citizen.      LINK

Mr. Ammar Al-Hakim: The Political Crisis In Iraq Is Solvable

Iraq  10:37 - 09-06-2022   The head of the National Wisdom Movement, Ammar al-Hakim, stressed that the political crisis in Iraq is solvable, and reform begins with reforming institutions.

During his meeting with the US Secretary of State for Near Eastern Affairs, Barbara Leaf, Al-Hakim said that the political crisis in Iraq is solvable if everyone has the will to resolve and compromise for the Iraqi interest, indicating the importance of partnership in Iraqi decision-making, and that attendance in decision-making does not require participation in the government.

He also stressed respect for the constitutional institutions in Iraq, and stressed that reform begins with reforming institutions, recalling that democratic practice came as a result of the great sacrifices made by Iraq in the face of dictatorship and terrorism.

Al-Hakim indicated that any dialogue aimed at calming the atmosphere between the parties in the region is in the interest of Iraq and everyone, and that Iraq played a role in bringing the views closer because of his conviction that dialogue is the best way and that the problems are solvable if everyone goes towards it. https://kirkuktv.net/AR/Details/8697

A Representative Of The State Of Law Confirms That Disrupting Parliament Means Destroying The Interests Of The People

Iraq   18:14 - 09-05-2022   Representative of the State of Law coalition, Jassem al-Moussawi, considered, on Monday, that disrupting the work of the House of Representatives means disruption of the Iraqi people's dues and the continuation of the political blockage.

Al-Moussawi said, "The political blocs that continue to disrupt Parliament have overpowered their personal interests over the interests of the Iraqi people, who are waiting for a lot from the new government," stressing that "the work of many projects has been delayed due to the disruption of parliament's work and the delay in forming the government due to the political blockage."

He added, "The political blocs that seek to increase their share of the budget must realize that there is a greater work than the benefits of the budget's benefits, which is to provide basic services to the Iraqi people."

He continued, "We note the lack of seriousness on the part of some political parties, and all of their efforts are focused on disrupting the formation of the government and increasing its personal gains."

And he indicated that "the only thing affected by the failure to resume parliament sessions is the poorer classes of the Iraqi people, and those who work to delay them now will not be harmed by them."

https://kirkuktv.net/AR/Details/8685

The Framework Confirms Its Adherence To Its Candidate, Muhammad Shia Al-Sudani, For Prime Minister

Iraq  13:01 - 09-06-2022   The deputy for the coordination framework, Rafiq al-Salihi, confirmed that the framework was adhered to in his candidate for prime minister, Muhammad Shiaa al-Sudani, indicating that al-Sudani did not register any dispute with the Sadrist movement.

Al-Salihi said that the last meeting of the leaders of the coordination framework renewed for the tenth time the insistence on the nomination of Muhammad Shia Al-Sudani to head the government.

He added, that the statements about replacing him and putting forward several alternative personalities are completely untrue, as Al-Sudani is supported by most of the political forces and is welcome in the position.

Al-Salihi explained that the disagreement of the Sadrist movement and the coordination framework has nothing to do with the nomination of the Sudanese to head the government, and even the Sadrist bloc did not require the replacement of the Sudanese as rumored by some media outlets.

The political differences between the two poles of the Shiite forces, the coordination framework and the Sadrist movement, continue due to some points, especially the holding of early elections and their date and the mechanisms of forming the government several months ago.

https://kirkuktv.net/AR/Details/8703

Events Of Al-Khadra Have Caused Great Damage To The Political Process

political | 11:01 - 06/09/2022   Baghdad - Mawazine News, Foreign Minister Fouad Hussein said that the "bloody" events that took place in the Green Zone last week caused "great damage" to the political process, calling on all political forces to "take a lesson from what happened."

A Foreign Ministry statement received by Mawazine News stated that "Foreign Minister Fouad Hussein received Barbara Leaf, Assistant Secretary of State for Middle Eastern Affairs of the United States of America, and the accompanying delegation."

During the meeting, according to the statement, they "discussed bilateral relations, issues of common interest, ways to activate cooperation in various fields, and emphasis on supporting Iraq's political, economic and security stability."

The minister touched on "the political conditions in Iraq and the bloody events that occurred a week ago in Baghdad and in the Green Zone," noting that "these events caused great damage to the political process in Iraq, and all political forces should take a lesson from what happened, in order to preserve On civil peace, and that the series of dialogues should include everyone, and it is necessary to protect the democratic process as it is, and to protect social peace.

The two sides also discussed "the regional situation and relations between the Islamic Republic of Iran and the United States of America, and the course of the ongoing negotiations in Vienna on the Iranian nuclear project."

The two sides also discussed the situation in Syria, where the Foreign Minister stressed that "building stability in Syria is not only in the interest of the Syrian people, but also in the interest of Iraq and the entire region," adding that "the Iraqi government is working hard to support this path in all international forums." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=204652

Details Of The Meeting Of The President Of The Supreme Judicial Council And An American Official

Political | 01:01 - 06/09/2022  Baghdad - Mawazine News, President of the Supreme Judicial Council, Judge Faiq Zaidan, and Assistant Secretary of State for Middle Eastern Affairs Barbara Leaf discussed, today, Tuesday, support for the Iraqi judiciary.

The Judicial Council said in a statement, "The President of the Supreme Judicial Council, Judge Faiq Zaidan, received today the US Assistant Secretary of State for Middle Eastern Affairs, Barbara Leaf."

The statement added that "during the meeting, they discussed US support for the Iraqi judiciary in various specializations." Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=204665

A Leader In Al-Fateh: The Framework Adheres To The Sudanese, And It Is Possible To Change It In This Case

political| 11:39 - 06/09/2022    Baghdad - Mawazine News, a leader in the Al-Fateh Alliance, Mahmoud Al-Hayani, said on Tuesday that the Sadrist movement's attendance of the second dialogue session held yesterday would have supported positive results, indicating that without the language of dialogue, we will not be able to reach a solution to the crisis.

Al-Hayani continued, in an interview with the official "Al-Sabah" newspaper, which was followed by "Mawazine News", that "dialogue without the presence of the Sadrist movement will not work, as it is an influential party."

He added, "The rounds of political dialogues can begin after the fortieth visit of Imam Hussein (peace be upon him)," considering that "the demands of the blocs will remain in a vicious circle that can only be resolved by holding a parliamentary session to choose the president of the republic and assign a prime minister."

Al-Hayani stressed, "The coordinating framework adhered to its candidate, Muhammad Shia'a Al-Sudani," noting "the possibility of changing it if there is a dialogue with the Sadrist movement." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=204657

Observers: The conflict is focused on the prime minister, despite the differences of the largest bloc

Posted On2022-09-06 By Sotaliraq   Observers reported that the current political conflict is focused on the prime minister, pointing out that this position is the center of the executive decision and has an impact on the rest of the authorities.

Political analyst Dia Wajid al-Muhandis said, "The current conflict in Iraq is mainly over the prime ministership, although the dispute in Parliament is over the largest bloc."

The engineer added, "The prime minister is the influential center of the executive authority out of the four authorities in the country."

He believed that "controlling the prime ministership means dominating all financial and economic capabilities, especially as it is responsible for planning, preparing the budget and strategic projects and financing them, as well as proposing and preparing projects that are sent to Parliament for approval and approval," stressing that "whoever wins this position can maintain his presence in Parliament." .

The engineer stressed, "The Iraqi people believe in power and nominate whoever is in power, and this is what makes security more important in administration than the economy, and it is the basis for the prime ministership."

For his part, journalist Faeq Yazdi says that "the presence of the status of Commander-in-Chief of the Armed Forces in the person of the Prime Minister made the position with very broad executive powers, and this is what gave him importance that makes him one of the positions that the conflict rages on constantly."

Yazdi added, "Although the constitution defines the powers of the prime minister and makes him equal with the president of the republic in some decisions, such as dissolving the parliament and declaring a state of emergency, the expansion of powers remains one of the reasons that motivate political forces to win the position."

He finds, "There is a heated dispute over the first position in the Iraqi state in light of the state of schism within the Shiite house."

In addition, legal expert Ali Al-Tamimi said, "The prime minister is the head of the government at the same time."

Al-Tamimi continued, "There is a difference between the government and the state. The government is part of the state's institutions, and the state is a group of institutions, and governments change, but the state remains."

He pointed out, "The parliamentary system is based on the principle of separation of powers according to the Iraqi constitution, so there is no overlap in the powers."

Al-Tamimi noted that “it is better for Iraq, whose rhythms can be adjusted through a temporary constitution, not permanent, and specifying the term of the president of the republic for a period of 4 years, with the presence of the parliament that monitors the work of the president, as is the case in some countries.”

On a related level, the academic Saad Al-Jumaili said that "the political blocs that were looking for a personality to carry out the task of the prime minister - on request - are now fearing for their political future and the continuity of their influence."

Al-Jumaili added, "This happened, especially after the political changes brought about by the Iraqi reality in the October 2019 demonstrations, early elections and international and regional changes."

He went on to say that "these variables may be future factors in overthrowing the political routine that the political system is accustomed to, which raises their fear and anger and makes them in a frantic competition to win this sovereign position that perpetuates the political life of the parties."

Al-Jumaili went on to say, “The Shiite forces have become confused from their political scene today and chaos is taking them through an unknown tunnel, and this confusion has drawn the rest of the components to overlap the political scene and become more complex and ambiguous, especially after the position of Prime Minister has become not a concern for the Kurds and Sunnis in who takes this responsibility. Rather, it is for the Shiites among themselves.”

The coordination framework's adherence to the nomination of Muhammad Shia'a Al-Sudani for the position of Prime Minister led to a major political dispute that later led to confrontations inside the Green Zone that lasted for two days, causing many casualties. LINK

Tuesday AM Iraq Economic News Highlights 9-6-22

Tuesday AM Iraq Economic News Highlights 9-6-22

Parliamentary Finance: The Absence Of The Budget Is Very Influential And Accumulates Major Mistakes On The State’s Finances

Economie   12:18 - 09-06-2022   The Parliamentary Finance Committee resolved the controversy over the absence of a budget law for the next year, while warning of the accumulation of major mistakes.

Committee member Sajjad Salem said that in the event that a financial budget law is not issued for the next year, it is possible to spend according to the financial management law with a system of one on twelve of the two thousand and twenty-one budget in the year two thousand and twenty-three, as happened in the current year.

He added, that the budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state's finances.

The member of Parliamentary Finance indicated that the financial surplus is preferred to be invested in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way, noting that there is a need for a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy.

https://kirkuktv.net/AR/Details/8701

Parliamentary Finance Stresses The Need To Legislate The Budget Law For The Current Year

Economie  16:46 - 09-05-2022 Today, Monday, a member of the Parliamentary Finance Committee, Jamal Cougar, stressed the need to legislate the financial budget law in order to invest the money in all parts of the state, including service projects.

Cougar said in a press statement, "If the budget law for the current year is not enacted or financial laws similar to the food security law, this means that about twenty million citizens in the Iraqi state will be deprived of financial support because the operating budget will only go to employees and salary earners and part of the country management movement.

Cougar added, "All the remaining segments will be deprived, and there will be no job opportunities, investment projects or strategic projects, in addition to the absence of new infrastructure, and there will be no maintenance and perpetuation of the existing."

Cougar stressed that "the Food Security Act has been set with conditions that cannot be repeated for the next year."

He continued, "The funds within the Food Security Law are 25 trillion, 7.5 of which the current government may not dispose of and does not have the authority to spend it at all because there is a restriction in one of the articles of the Food Security Law that states that the new government that will be formed will spend it with these funds."

Cougar pointed out that "the Food Security Law is a law among the financial laws that were enacted in 2022, and it is not a budget law so that it can be repeated a second time or repeated disbursement during the year 2023." https://kirkuktv.net/AR/Details/8683

A New Statement From Parliamentary Finance Regarding The Budget

Political | 12:41 - 06/09/2022   Baghdad - Mawazine News, a member of the Parliamentary Finance Committee, Sajjad Salem, said, on Tuesday, that in the event that a financial budget law is not issued for the next year, it is possible that the disbursement will take place in accordance with the Financial Management Law 12/1 of the 2021 budget in 2023, as happened this year.

Salem added, "The budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state's finances," according to the official news agency.

He continued, "The financial surplus is preferable to invest it in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way," noting that "we need a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy."   https://www.mawazin.net/Details.aspx?jimare=204662

Iraq Maintains Its 30th Rank In The List Of Major Gold Hoarders

Market   Economy News _ Baghdad   Today, Tuesday, the World Gold Council announced that Iraq has maintained its 30th rank globally among the largest countries in possession of gold reserves.

In its latest schedule for the month of September 2022, which was seen by Al-Iqtisad News, the council said that "the global central banks added 37 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Qatar (15 tons)," While the regular buyers of India were (13) tons, Turkey bought (12) tons, and Uzbekistan bought (9) tons.

He added that "Kazakhstan was the only prominent seller in this month, as it sold (11) tons of gold."

He pointed out that "Iraq maintained its global position after it rose 10 ranks last month after purchasing 34 tons of gold to rank 30 out of 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 9.5% of the rest of its other reserves. "

He explained that "Iraq has become the fourth largest Arab gold reserve after Saudi Arabia, Lebanon and Algeria, after it was sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

globally; The United States of America still leads the rest of the countries with the largest gold possession in the world, with 8.133 tons, followed by Germany, 3.355 tons, and then Italy, 2,451 tons.

The Republic of Cuba ranked 100, with one ton, preceded by the Islamic Republic of Mauritania, with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

1 . views   Added 09/06/2022 - 1:27 PM  Update 09/06/2022 - 1:27 PM

https://economy-news.net/content.php?id=29588

Integrity: Agriculture Does Not Control The Products Entering The Territory

Money and business   Economy News _ Baghdad   Today, Tuesday, the Federal Integrity Commission called for the activation of the local product protection law (eggs, chicken and fish), and the establishment of tight import controls; In order to secure the protection of the product, taking into account the protection of the consumer.

The Authority's Protection Department confirmed, in a statement received by "Al-Iqtisad News", that it "prepared a report on the visits of its field team to the Ministry of Agriculture - the Department of Planning and Follow-up, in which it stressed the importance of the ministry reactivating the work of the single window system when opening the door for importation on a specific product, to prevent any occurrence of any accidents."

A case of corruption, pointing to the need to publish the materials to be imported according to the “agricultural calendar” before the season of scarcity, to ensure equal opportunities among importers, pointing out the importance of avoiding issuing sudden decisions to open and close import and export without specifying the quantity, which leads to flooding the market with products, and endangering the market. National Producer of Losses.

The report, a copy of which was sent to the Office of the Prime Minister and the Minister of Agriculture and the Committees (Integrity, Agriculture and Economic Affairs) in the House of Representatives, recommended “paying the dues of the owners of the affected projects, as a result of infection with epidemic diseases if destroyed in accordance with Article (38) of the Animal Health Law No. 32 of the year 2013) through the establishment of a special fund to support these cases,

and the involvement of national insurance companies in this sector, as well as increasing the support provided to farmers by providing fertilizers, seeds, pesticides, modern irrigation systems and agricultural machinery, granting loans to raise the level of production and activating a program to develop the poultry sector similar to what was In force for the period from 1998-2004 to achieve self-sufficiency in chicken and eggs.

The report suggested "coordinating work between the ministries of agriculture and water resources to develop solutions to overcome the difficulties of fish production reaching levels that guarantee self-sufficiency, addressing the issue of license renewal fees imposed on fish farmers, ending the file of compensation for dead fish, and developing solutions to resolve the issue of collecting renewal fee amounts."

The accumulated leave owed by the owners of the fish lakes, and the failure to claim them has encouraged many fish farmers to exceed, and some of them were subjected to extortion and demand for bribes, to ensure that they are not harassed while they work illegally.

With regard to irrigation, the report monitored “the lack of and slow dissemination of modern irrigation technologies in all regions, especially those that suffer from high salinity and water scarcity (in the central and southern regions), calling for the distribution of modern irrigation systems fairly between the governorates and according to the needs, Considering its cost, in addition to intensifying agricultural extension activities to educate farmers about its use, and setting plans to establish and maintain wastewater recycling and purification plants and make them suitable for agricultural use.

The report noted, according to the Integrity Statement, “The Ministry of Agriculture does not control the products entering through the Kurdistan region, despite the formation of a committee to calculate the production capacity of the region’s poultry plants and farms, which concluded that the amount of materials entering through the region exceeds the production capacity of its facilities, and this is an indication of the existence of corruption

The process of introducing imported materials as a national product, as well as the delay in releasing the quantities of feed imported from the Kurdistan region, which takes place without the validation process of the laboratory examination certificate by the Ministries of Agriculture and Water Resources in the region, as a result of the laboratory examination conducted by the Department of Livestock in Baghdad exclusively. ".

The report pointed out that “the absence of accurate statistics for livestock and poultry projects, the lack of registration of small projects, and the lack of projects for large cows milk stations, as a result of the lack of guarantees of coordination with the supporting authorities to transform the stations into productive and economically viable and accurate data on the numbers of agricultural machinery and equipment,

in addition to the fact that the Ministry of The water resources are draining and cleaning rivers during the breeding season of fish, which leads to the raising of their eggs and their non-reproduction, bearing in mind that the draining process takes place in the last quarter of the year.

17 . views   Added 09/06/2022 - 10:39 AM   Update 09/06/2022 - 1:15 PM

https://economy-news.net/content.php?id=29584

Electricity Announces The Conclusion Of Two Contracts To Rehabilitate Two Stations In Mosul

Energy   Economy News _ Baghdad   Today, Tuesday, the Ministry of Electricity announced the conclusion of two contracts to rehabilitate two stations in the city of Mosul.

The ministry said in a statement received by "Al-Iqtisad News", "The Electrical Systems Rehabilitation Company has concluded two contracts with North Production, to rehabilitate and supply turbine materials in two stations in the city of Mosul."

She added, "The value of the two contracts amounted to one billion and 471 million dinars."

Views 12   Added 09/06/2022 - 12:14 PM  Update 09/06/2022 - 1:18 PM

https://economy-news.net/content.php?id=29586

Despite The Citizen's Need For It, The Delay In Passing The Budget.. Video

2022-09-06 | 07:03   Source:   Sumerian   153 views   Significant negative repercussions caused by the lack of approval of the current year’s budget, as the year is approaching its end, and the budget law has not been drafted despite the citizen’s need for it to push the matter with observers to raise questions about the government’s ability to continue spending in the year two twenty-three.

According to observers, the parliament did not meet the needs of the Iraqi street after months of delay and the holding of a few sessions that did not provide anything but delayed the enactment of important laws.

One of the main reasons that led to the delay in voting on the budget is the continuation of the caretaker government .. which cannot play the role of the permanent government by proposing projects by passing important and necessary laws.   LINK

Parliamentary Finance Resolves The Controversy Over Next Year's Expenditures With No Budget

Money and business    Economy News _ Baghdad  Today, Tuesday, the Parliamentary Finance Committee resolved the controversy over the absence of a budget law for the next year, while warning of the accumulation of major mistakes.

Committee member Sajjad Salem said, in an interview with the Iraqi News Agency, and followed by “Economy News”, that “in the event that a financial budget law is not issued for the next year, it is possible that the disbursement will take place in accordance with the Financial Management Law 12/1 of the 2021 budget in 2023, as happened of the current year.”

He added that "the budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state's finances."

Salem pointed out that "the financial surplus is preferred to be invested in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way," noting that "we need a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy."

The technical advisor to the Prime Minister, Haitham al-Jubouri, announced, earlier, that salaries would not be affected by the existence of the budget or not, while he explained the possibility of passing a law granting the current government to dispose of the financial surplus.

16 . views   Added 09/06/2022 - 1:31 PM   Update 09/06/2022 - 3:03 PM

https://economy-news.net/content.php?id=29589

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

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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

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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

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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

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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

Iraqi News Early Tuesday AM 9-6-22

 Iraqi News Early Tuesday AM 9-6-22

Tlm724 Administrator Bondlady’s Corner

An Economist Reveals The Reasons For The Increase In Central Bank Sales Of The Dollar And Raises Exciting Questions

09/04/2022    68   Earth News/ The economic expert, Manar Al-Obaidi, revealed today, Sunday, the reasons for the increase in the Central Bank's sales of the dollar, while asking questions to several government agencies.  Al-Obaidi said in a statement received by Earth News,

“In order to clarify the picture, it is necessary first to understand the mechanism of the foreign currency sale window,” noting that “most of Iraq’s revenues are in US dollars, given that 92% of the Iraqi government’s revenues are from oil sales, and the Iraqi government’s expenses are mostly From the dinar, given that 90% of government expenses are operational expenses (salaries + subsidies + other service expenses).

Al-Obaidi added that “on the basis of these two rules, the government needs to sell the dollar and buy the dinar through the Central Bank, as the Ministry of Finance sold during this year to the Central Bank an amount of 33 billion US dollars to the Central Bank, which has to provide local cash to cover the value of dollar purchases. From the Ministry of Finance in order to cover the needs of the Iraqi government.”

He pointed out that "the sources of the dinar at the Central Bank are:

Local bank deposits of Iraqi dinar

Depositing government institutions from the Iraqi dinar

Dollar sales to the local market through the foreign exchange window, which is the largest part

Issuing and printing additional cash

And he indicated that “in the event that the first and second points are not sufficiently available to the Central Bank, the bank is forced either to

increase dollar sales through the window to cover the dinar, or to

print new cash to cover the need of the Iraqi government,”

explaining that "the Central Bank’s sales of dollars through the currency sale window. Since the beginning of the year, it has reached nearly 28 billion dollars,

meaning that  the difference is about 5 billion dollars in favor of the Central Bank, in which the value of cash in dollars increased at the expense of the dinar.

He explained that "the Central Bank is forced to increase its sales of dollars with the increasing demand for the local currency from the Ministry of Finance and in order not to increase its issuance of a new monetary mass that may lead to an increase in inflation as a result of the rise in the monetary mass."

Al-Obaidi pointed out that “the question is not directed to the Central Bank exclusively about the reasons for the rise in dollar sales through the window, but rather the questions are directed to:

Ministry of Finance: What is the need for the increasing demand for the dinar, which means an increase in the Iraqi government's expenditures in the absence of a budget?

The Ministry of Commerce: It was noticed that the import licenses granted by you increased, and in light of them, the demand for buying dollars increased. Does Iraq actually need these imports, in light of which the licenses are granted?

Ministry of Finance, General Customs Authority: With the increase in the value of remittances related to imports and the increase in import licenses granted by the Ministry of Commerce, no significant increase in the Authority’s revenues was observed despite these rises,  which means that a large part of the imports enter through unofficial ways and not through your authority   https://earthiq.news/archives/136433

The Largest In The History Of Iraq.. Huge Numbers Of Central Bank Sales Of The Dollar For The Past Month

1,681 Economie 09/03/2022 13:05   Today, Saturday, the economist, Nabil Jaafar Al-Marsoumi, revealed frightening figures for the central bank’s dollar sales for the month of August, while the bank sold five billion five hundred and thirty million dollars, which is the largest in the history of Iraq.  Al-Marsoumi told (Baghdad Today) that

"four billion six hundred and ninety-six million dollars were documentary credits for the purchase of goods, while the cash sales were eight hundred and thirty-four million dollars,"

explaining that "the oil revenues for the month of August were nine billion seven hundred and eighty-four million dollars."

The bank drained 65% of the oil revenues, and this number is huge.

He added that "when the amounts of opening documents for imports amount to four billion six hundred and ninety-six million dollars, imports of goods and services must be offset by the same amounts,

but what is happening is different, and the evidence is that last year the private sector recorded import of goods and others with an amount that reached 11 billion dollars,

while it was The bank's document sales amounted to $33 billion,"

he added, adding:  "This means that an amount of up to 20 billion was bought with goods and entered through illegal outlets or from the Kurdistan region."   https://baghdadtoday.news/news/199665/الأكبر-بتأريخ-العراق-أرق

An Economist Reveals The Size Of The Currency Issued By The Iraqi Central

1,126 Economy 09/02/2022 11:57   Baghdad today – Baghdad   Today, Friday, the economic expert, Manar Al-Obaidi, measured the size of the currency issued by the Central Bank of Iraq.

Al-Obaidi said in a statement received (Baghdad Today) that  "according to the data of the Central Bank of Iraq, the volume of cash currency issued by the bank is up to 82 trillion Iraqi dinars."  He added: "On the other hand, the volume of cash in Iraqi banks does not exceed the barrier of 7 trillion Iraqi dinars only, meaning that more than 75 trillion Iraqi dinars are outside the banking system and it is very difficult to follow up and know its fate, which affects the banking sector and its contribution to the domestic product.

It contributes to an increase in inflation.  Al-Obaidi pointed out that "there are 4 main possibilities for this cash away from the banking system, which are:

1 - Iraqis hoard money in their homes without entering it into the banking system

If the number of Iraqis is about 41 million people, and there are more than 9 million of them below the poverty level, according to the data of the Ministry of Planning, and the number of those whose age exceeds the barrier of 16 is among the remaining 30 million, up to 20 million, then the rate of hoarding of money by the Iraqi citizen is about 3.7 million Iraqi dinars.

2- Internal and external commercial transactions with funds from the banking system, and this includes all internal commercial businesses that deal either in cash or through informal financial institutions, and this sector may be the largest holder of these funds.

3 - Foreign institutions hoarding the Iraqi currency for several reasons, including the remote investment in the Iraqi dinar in the hope that its price will rise in the future, or for reasons related to trying to control the local currency in order to pump more currency into the local market, which leads to an increase in inflation, which is a small possibility, but it is possible.

4- Coin damage

It may be that part of the issued currency, especially from small businesses, has been damaged, which means that it is practically out of the currency, but it is still calculated because there is no evidence of its damage.”  He pointed out that

"the cash currency issued since the beginning of last year 2021 increased by 19.82%, while the value of the money in the bank did not increase by more than 18%,

meaning that even the issued cash currency, a large part of it does not enter the banking system,"

adding: "Therefore, the The prevailing belief is that the parallel market system and the internal trade market away from the banking system represent larger systems than the banking system, and that the lack of confidence in the banking system and its complexities leads the citizen to hoarding away from the banking sector and keeps the internal merchant away from banking dealings with banks and in order to return this money to the banking system for the possibility of It is necessary to prevent financial transactions and internal transfers away from the banking system, and

it is necessary to increase the confidence of users in banking services and increase deposit rates to gain consumer confidence towards the important banking sector.”

https://baghdadtoday.news/news/199583/خبير-اقتصادي-يكشف-حجم-ال

Al-Kazemi’s Advisor Determines The Size Of The Accumulated Reserves During The First Half Of 2022

Political      2-09-2022, 17:39  Baghdad - INA - Nassar Al-Hajj, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, determined today, Friday, the size of the reserves accumulated during the first half of the current year 2022, while offering a conditional option to employ the surplus financial resources in the absence of the budget.  Saleh said, to the Iraqi News Agency (INA), that “the

actual balance of the surpluses achieved from selling oil can only be determined by the end of the current fiscal year, as

estimates (the first half of the current year 2022) indicate the accumulation of public financial reserves of up to 20 billion dollars, and

it cannot be Disposing of it outside what is stipulated in Article 13 of the amended Federal Financial Management Law No. 6 of 2019, i.e. spending at the rate of 1/12 of the total actual current expenditures in the 2021 budget.  He added,

"Although the allocations contained in the Emergency Food Security and Development Law No. 2 of 2022 have allocated amounts close to the financial savings achieved in the first half of 2022, what can be expected of financial savings until the end of the current year is perhaps an amount Its balance is between 15-20 billion dollars, in light of the average oil prices in the global market estimated at about $100 per barrel and an export capacity of about 3.3 million barrels of oil per day, in addition to the exchange restrictions and limitations in the aforementioned two laws.”

He continued:  "Based on the foregoing, the possible and available option is to employ those surplus financial resources in a (sovereign fund) based on the provisions of Article 19 of the Federal Financial Management Law in force, provided that the legal adaptation that links the establishment of the sovereign fund to the adoption of a law for the general budget is available."

He concluded: "Thus, financial legislation remains the objective basis for all future financial actions."

https://www.ina.iq/164623--2022.html

Central Banks Participate In The Manufacture Of Modern Financial Technologies

Economie Today, 11:40   The Arab Monetary Fund announced, today, Monday, the launch of a training course directed at cadres working in central banks, under the title (Regulatory Frameworks and Legislations for the Industry of Modern Financial Technologies). A statement by the fund stated that

"the course, which will continue until the eighth of this month, is also directed to those concerned with issues of modern financial technologies and the staff working in the capital market authorities and stock exchanges and ministries of finance who are specialized in issues of modern financial technologies."

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.   https://www.ina.iq/164807--.html

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Tuesday Morning 9-6-2022

TNT:

KaseyKo1:  From everything I'm reading, this should prove to be an interesting week. Looks like there's a good chance because of a loophole in their laws, that all of Sadr's deputies in parliament that resigned may very likely get reinstated. Would love to know what Maliki's thinking right about now.

CharlieOK:  kasey: After watching the uselessness of Parliament in Iraq over the past several years, I doubt that would be an advantage for us. At this late date, who knows? I am hoping a Caretaker Govt. will be installed quickly. Hopefully that would last several years, because Iraqi divisions/sects/tribes/etc. can't agree on anything,

CharlieOK:  Even if the founding documents of a brand new form of govt. (which came off the word processor of a Washington D. C. law firm) were approved by all relevant Iraqi govt. folks today, there probably would be quite a long installation time. Ergo, Caretaker Govt,

CharlieOK:  The key seems to be if the CBI still has sole authority in revaluing the Iraqi dinar. If so, the CG (caretaker government) seems to provide the most security for Iraq.

KaseyKo1:  Charlie: I believe that if the deputies are reinstated, that we would see a caretaker gov't put into place & new elections done - based, of course, on the federal court's decision Wed. And this is really what Sadr seems to want to see happen.

CharlieOK:  Right. I forgot about the (joke) federal court decision coming up on Wednesday. It would be an absolute complete surprise to see the fc make the correct legal decision under the current Iraqi laws. They have shown no proclivity to do so up to now,

CharlieOK:  If they do what corrupt Iraqi federal courts do; Tony expects the US/UN to step in and clean house. Btw, I read an article this morning stating that corrupt Iraqi govt. folks were being arrested. Who knows if that is correct?

KaseyKo1:  This seems to be a continuing action in arresting people. Not sure if any well known individuals have been arrested - yet, anyway. But it does appear Iraq is trying very hard to get decisions agreed upon before Wed's hearing.

NWMontana:  "video showing Iraqi security forces arresting the head of the “Iraqi National Security Agency” in the Province of Maysan allegedly after taking a cash bribe inside of his office. Crazy scene"~https://twitter.com/thestevennabil/status/1566678356061409280

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CandyKisses:  Iraq maintains its 30th rank in the list of major gold hoarders

Shafaq News/ The World Gold Council announced today, Tuesday, that Iraq has maintained its 30th rank globally among the largest countries in possession of gold reserves.

The council said in its latest schedule for the month of September of 2022, which was seen by Shafak News Agency; The "global central banks added 37 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Qatar (15 tons), while regular buyers of India were also by (13) tons and Turkey bought (12) tons. Uzbekistan bought 9 tons.

He added that "Kazakhstan was the only prominent seller in this month, as it sold (11) tons of gold." 

He pointed out that "Iraq maintained its global position after it rose 10 ranks last month after purchasing 34 tons of gold to rank 30 out of 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 9.5% of the rest of its other reserves. ".

He explained that "Iraq has become the fourth largest Arab gold reserve after Saudi Arabia, Lebanon and Algeria, after it was sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

globally; The United States of America still leads the rest of the countries with the largest gold possession in the world, with 8.133 tons, followed by Germany, 3.355 tons, and then Italy, 2,451 tons.

The Republic of Cuba ranked 100, with one ton, preceded by the Islamic Republic of Mauritania, with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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CandyKisses:  Al-Sadr renews the call to his followers to continue the reform process

The Independent / - The leader of the "Sadrist Movement" Muqtada al-Sadr renewed, on Monday, his followers' call to continue the reform process, and addressed them in a tweet via "Twitter", saying: "Continue on reform, whatever happens."

In a sign; Al-Sadr said: "I and my companions are neither easterners nor westerners, and no one will rule over us (Ibn al-Da'i) whoever he is."

Some of them interpreted the phrase “Ibn al-Da’i” as an insistence by al-Sadr not to allow his Shiite opponents in the “coordinating framework” to form a new government and rule the country, while others saw it as a confirmation of the position of the “Sadr movement” to withdraw from Parliament and not return to it, after the Federal Court had determined The current date of September 28 is the date for considering the return of members of the Sadrist bloc (73 deputies) to Parliament after they withdrew from it at the request of al-Sadr last June.

The court's setting a date to consider the possibility of returning to Parliament angered the Sadrists, and they were quick to deny their connection to the invitation made by lawyer Diaa Al-Din, God's mercy, about two months ago.

Sadrist circles believe that their opponents seek to "fraud and distort the facts by saying that the Sadrists filed the lawsuit." The leader of the "Sadr movement" Judge Mashreq Naji issued a clarification in which he said that the lawyer who filed the lawsuit "is not a representative of one of the resigned Sadrist bloc representatives."

He added: "After filing a lawsuit related to the dissolution of the House of Representatives by the Secretary-General of the Sadrist bloc, and knowledge of this lawsuit, the lawyer was contacted at the time, and he was asked to withdraw and invalidate the lawsuit he filed so that trolls do not prey on murky water."

He continued that «this (meaning the return of the Sadrists) is contrary to the directions of His Eminence Sayyid Muqtada al-Sadr, not to return the resigned Sadrist bloc deputies. The man expressed his understanding and consent to annul the lawsuit.” He concluded by saying: “Therefore; The resigned Sadrist bloc MPs, or any of them, have nothing to do with this lawsuit, and that it was filed in a personal capacity by one of the lawyers’ brothers, and not as some deceive their pages and websites to undermine (the current) and its leadership.

Salih Muhammad al-Iraqi, known as "Minister of al-Sadr," said in mid-August to followers of the "current": "It is strictly forbidden to demand the return of the Sadrist bloc to Parliament."

Regardless of the Sadrist stance rejecting the lawsuit, some Iraqi political and popular trends welcome the Sadrists' return to Parliament; Because limiting the political conflict between al-Sadr and his opponents in parliament is much better than extending the conflict to the street, as happened last weekend, when an armed clash took place between the "Sadrists" and their opponents from the "tyreenists" that led to dozens of deaths on both sides.

On the other hand, Agence France-Presse quoted the Iraqi Federal Integrity Commission as announcing, "The arrest of the security director of Maysan Governorate (east) in flagrante delicto inside his office after receiving a financial bribe after blackmailing and bargaining with citizens."

In a statement, "the Commission" stated that it had received, through its "secret sources, information that the Director of National Security in Maysan bargained with the families of one of the accused in the investigative cases filed with the Directorate," noting that "those sources confirmed the complainant's request for a sum of money."

She added, "Immediately upon receiving the information, I drew up a team from its investigation office in Maysan Governorate (...) as a tight ambush was set up to trap the accused (...) and he was caught red-handed for receiving the bribe."

The "Integrity Commission" devices filmed the raid of the headquarters of the Security Directorate in Maysan and the arrest of the person concerned.

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Tishwash:  India: Most of our oil supplies will come from Iraq and Saudi Arabia

Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said that most of his country's supplies of crude oil in the near future will come from the Gulf countries, especially Iraq and Saudi Arabia, as it seeks to secure an affordable energy base.

Indian refineries have been buying relatively cheap Russian oil, which Western companies and countries have shunned since sanctions were imposed on Moscow over what it calls a "special military operation" in Ukraine.

India's imports of Russian oil increased 4.7 times, or more than 400,000 barrels per day, in April and May, but declined in July.

India decreased its oil purchases from Iraq in July by 9.3% compared to June to less than one million barrels per day for the first time in 10 months, but Iraq remained in first place as the largest exporter of oil to India.

Crude oil imports from Saudi Arabia by the world's third largest importer and consumer of oil rose in July by more than 25% after Saudi Arabia lowered its official selling price in July to keep Saudi Arabia in third place among India's suppliers.

Although oil imports from Russia fell 7.3% in July from June levels, Moscow remained the country's second largest oil supplier after Iraq.

Puri said that by the end of the fiscal year on March 31, 2022, India's purchases from Russia accounted for only 0.2%, but later rose as the global situation turned "problematic". Europe buys it from Russia. link

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