Iraqi News Highlights Thursday Evening 11-3-22

Iraqi News Highlights Thursday Evening 11-3-22

Tlm724 Administrator Bondlady’s Corner

After the theft of the Horn.. Another 200 billion worth of coin auction securities looted

Information/private..   A member of the Parliamentary Integrity Committee, Ali Turki al-Jamali, revealed on Thursday the value of the money stolen from the secretariats of companies and money transfers by buying dollars from the currency sale auction, adding that the amount stolen so far has reached 200 billion Iraqi dinars.

Turki said in an interview to / information/, that  "200 billion Iraqi dinars were seized in the former caretaker government,"   

stressing that  "the theft was made from the funds of companies that placed trusts before entering the currency auction and buying dollars.

"At the time of the government of former prime minister Haider al-Abadi, the condition for entering the dollar auction was transferred from written guarantees to financial trusts,"he added.  He continued,

"Some of the companies tried to recover these funds, but they were shocked that their funds were stolen by a financial gang during the time of the kadhimi government, "pointing out that

"all the funds of the funds were preserved in the governments that preceded the kadhimi government".

This theft comes after the theft of the century, which is estimated at 2.7 billion dollars from the tax secretariats carried out by an entire network, some of whom were arrested, as well as the theft of Customs secretariats, which is now being investigated by the Public Integrity Committee and the competent authorities.

https://almaalomah.me/news/economy/بعد-سرقة-القرن-نهب-اخر-بقيمة-200-مليار-من-امانات-مزاد-بيع-ال

Parliamentary Investment: Activating The Single Window System Will Eliminate Extortionists

Information / Baghdad..  Osama al-Badri, a member of the investment and Development Committee, called on Thursday for

the need to activate the Single Window System in state departments that will return investment and eliminate extortionists.

"The wheel of investment in Iraq is still slow despite the availability of investment opportunities in all its economic sectors,"Al-Badri said in an interview with Al-maaluma news agency.

"The investment law is a good law, but it needs some amendments that face the investment work in Baghdad and the provinces, "he added.

Al-Badri pointed out that "the growth of real investment in Iraq requires the development of strategic plans attractive to foreign investors,"pointing out that  the flaw can be in the failure to apply the laws in force https://almaalomah.me/news/economy/الاستثمار-النيابية:-تفعيل-نظام-النافذة-الواحدة-سيقضي-على-الم

Minister Of Trade: Iraq Is A Promising Market And Many Companies Want To Invest In It

Money and business   Economy News – Baghdad The Minister of Commerce, Atheer Daoud Al-Ghurairi, confirmed, on Thursday, that the Baghdad International Fair, which started its work two days ago, is an opportunity to strengthen the cooperation frameworks of the countries and companies participating in Iraq.

Al-Ghurairi told the official news agency, "The opening of the 46th session of the Baghdad International Fair coincided with the formation of a new elected government, which announced openness to the world within its government program, establishing international relations with everyone, and encouraging the private sector and foreign companies."

He added, "The Baghdad International Fair is a forum to attract the largest possible number of countries and companies, given that Iraq is a promising market and there is a desire by many companies to invest in the country, and it casts a shadow over economic interests among the participating countries."

He pointed to "the participation of nearly 12 countries and more than 360 local, Arab and foreign companies," noting that "the coming years will witness greater participation of effective countries and companies in light of the efforts that will be made to cover and activate the committees and agreements between countries."   Views 21   Added 11/03/2022 - 6:15 PM  Update 11/03/2022 - 6:39 PM

https://economy-news.net/content.php?id=30573

Report: Sudanese Retracts The Decision To Change The Dollar Exchange Rate.. Populist Promises

1,766 economy 2022/11/03 10:13   Baghdad Today - follow-up  What are the reasons behind the Sudanese Mohammed Shia's retreat from changing the dollar exchange rate against the dinar, despite his criticism of the decision and his pledge to reduce it, before taking office.

A report for the "free" website followed by "Baghdad Today" highlights.

The text of the report is below:

The Iraqi Prime Minister, Mohammed Shiaa al-Sudani, said in statements last Tuesday that the decision

"to change the Iraqi dinar exchange rate against the dollar is the prerogative of the central bank and

we are committed to implementing what the central sees,"

which some considered a retreat from previous promises and positions of the president to reduce the exchange rate.

The new prime minister noted that the decision to "raise the dollar exchange rate was not accompanied by measures to protect the fragile strata," according to local media.

The Central Bank of Iraq had raised in 2020 the exchange rate against the dollar to 1460 dinars after it was in the range of 1182 dinars against the dollar, in a move aimed at compensating for the decline in oil revenues at the time.

In previous statements before taking office, al-Sudani expressed his rejection of the central bank's decision, which he approved in agreement with the caretaker government, headed by Mustafa al-Kazemi at the time, calling for the need to reconsider the decision to raise the "dollar exchange rate to prevent its negative effects".  https://baghdadtoday.news/news/205118/تقرير-السوداني-يتراجع-عن

Alternative Options For Sudanese After Ruling Out The Idea Of Changing The Dollar Rate

3,394 economy 2022/11/03 18:17  Baghdad today-Baghdad  Economist Abdul Rahman al-Mashhadani reviewed, on Thursday,

3 alternative options for changing the dollar exchange rate and returning it to the previous price, because of its significant negative effects on the economy.

Al-Mashhadani told Baghdad today that "a decision to restore the dollar rate will cause major economic problems,  so the government has no options but to

allocate part of the budget funds for the purpose of increasing the number of people covered by social welfare and  increasing their salaries".

"Citizens should also be supported with food baskets, as these measures will mitigate the effects of the exchange rate hike on the poor classes," he added, noting that  "the previous government did not take these measures under the pretext of lack of budget and lack of political agreements, while it achieved economic gains at the expense of social gains.

The Sudanese Prime Minister Mohammed Shiaa has stressed that the change of the dollar exchange rate depends on what the central bank deems according to its powers only,

stressing the government's commitment to the central bank's vision towards this file.

The central bank has confirmed on more than one occasion that it does not intend to change the dollar exchange rate against the dinar or return it to its previous price,

stressing that it will cause major economic problems and reduce confidence in the Iraqi banking system.

https://baghdadtoday.news/news/205162/3-خيارات-بديلة-أمام-السو

Withdrawing The Leave Of Qatar And Candlestick Companies To Broker The Sale And Purchase Of Foreign Currencies

November 03, 2022   The Central Bank of Iraq decided to withdraw the license of Qatar and Al-Shamu companies to broker the sale and purchase of foreign currencies and cancel the certificate of incorporation granted to them by the Ministry of Commerce /Companies Registration Department for violating the provisions of the regulations regulating the work of exchange companies and brokering the sale and purchase of foreign currencies No. 1 of 2022.   https://cbi.iq/news/view/2116

Announcing A Tender For Processing Currency Counting And Sorting Machines

November 03, 2022   Public tender announcement No. (5) for the year 2022 (processing of currency counting and sorting machines)

The Central Bank of Iraq announces a tender for the processing of currency counting and sorting machines according to the technical specifications and legal conditions contained in the sixth section of the standard document for the processing of goods,

those wishing to participate from officially licensed companies and qualified and experienced should send their official authorized persons under an authorization letter to the headquarters of the Central Bank of Iraq / located in Baghdad-al-Rashid Street - Building No. (2) Floor (3) Legal Department / contracts Department for the purpose of obtaining tender documents for an amount of (250,000) dinars (two hundred and fifty thousand dinars) is non-refundable, and

the deadline for submitting tenders and closing the tender will be before the end of the official working day on Monday 2022/12/12 and in case the date of closing the tender happens to be an official holiday, the first day following that is the deadline and

the person to whom the tender is mooted bears the fees of posting the announcement and that this bank is not responsible for he is obliged to accept the lowest bids.  https://cbi.iq/news/view/2118

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

https://www.bondladyscorner.com/

Iraqi News Highlights Thursday Afternoon 11-3-22

Iraqi News Highlights Thursday Afternoon 11-3-22

Tlm724 Administrator Bondlady’s Corner

The secret of the Sudanese government's retreat from changing the exchange rate of the Iraqi dinar

Posted On2022-11-03 By Sotaliraq   Alhurra/Private - Washington November 03, 2022  Al-Sudani criticized in previous statements the increase in the exchange rate of the Iraqi dinar against the dollar

The Iraqi Prime Minister, Muhammad Shia Al-Sudani, confirmed in statements on Tuesday that the decision to “change the exchange rate of the Iraqi dinar against the dollar is the prerogative of the Central Bank, and we are committed to implementing what the Central Bank sees as a retreat from previous promises and positions of the President to reduce the exchange rate.”

The new prime minister indicated that the decision to “raise the dollar exchange rate was not accompanied by measures to protect the vulnerable classes,” according to local media.

In 2020, the Central Bank of Iraq raised the exchange rate against the dollar to 1460 dinars, after it was in the range of 1182 dinars against the dollar, in a move aimed at compensating for the decline in oil revenues at the time.

The Sudanese Prime Minister had expressed, in previous statements before taking office, his rejection of the central decision that he approved in agreement with the caretaker government, headed by Mustafa Al-Kazemi at the time, calling for the need to reconsider the decision to raise the “dollar exchange rate to prevent its negative effects.”   LINK

The US Secretary Of State Assures Al-Sudani Of Washington's Keenness To Work With His Government

Political | 05:09 - 03/11/2022   Baghdad - Mawazine News   , Thursday, Prime Minister Muhammad Shia Al-Sudani and US Secretary of State Antonio Blinken affirmed Baghdad and Washington's commitment to the Strategic Framework Agreement.

According to a statement by the US State Department, Mawazine News received a copy of it, "this came during a phone call between Al-Sudani and Blinken."

https://www.mawazin.net/Details.aspx?jimare=210126

The Secret Of The Sudanese Government's Retreat From Changing The Exchange Rate Of The Iraqi Dinar

Posted On2022-11-03 By Sotaliraq   Alhurra/Private - Washington November 03, 2022   Al-Sudani criticized in previous statements the increase in the exchange rate of the Iraqi dinar against the dollar

The Iraqi Prime Minister, Muhammad Shia Al-Sudani, confirmed in statements on Tuesday that the decision to “change the exchange rate of the Iraqi dinar against the dollar is the prerogative of the Central Bank, and we are committed to implementing what the Central Bank sees as a retreat from previous promises and positions of the President to reduce the exchange rate.”

The new prime minister indicated that the decision to “raise the dollar exchange rate was not accompanied by measures to protect the vulnerable classes,” according to local media.

In 2020, the Central Bank of Iraq raised the exchange rate against the dollar to 1460 dinars, after it was in the range of 1182 dinars against the dollar, in a move aimed at compensating for the decline in oil revenues at the time.

The Sudanese Prime Minister had expressed, in previous statements before taking office, his rejection of the central decision that he approved in agreement with the caretaker government, headed by Mustafa Al-Kazemi at the time, calling for the need to reconsider the decision to raise the “dollar exchange rate to prevent its negative effects.”   LINK

The Exchange Rate.. Fluctuation And Chaos Burdened The Citizen

Posted On2022-11-03 By Sotaliraq   Reporting: Fouad Abdullah As soon as the new government was formed, news and gossip surfaced promoting the possibility of reducing the dollar exchange rate and returning it to its previous era, and the extent to which Prime Minister Muhammad Shia Al-Sudani was able to adopt some sensitive economic issues, including returning the dollar price to its previous position, which was one of the most prominent criticisms that It was directed by the forces of the coordination framework for former Prime Minister Mustafa Al-Kazemi.

Political Influence

The journalist Ali Al-Hadi explained to (Al-Masra) that as citizens, "we note in recent years that there is a significant impact of politics on the monetary and financial situation of the country, which led to the creation of major problems, including the change in the dollar exchange rate, which in turn formed a crisis and chaos in the Iraqi markets,"

noting That “the change that took place in the exchange rate burdened the citizen because the prices of goods rose and created a continuous fluctuation in the value of goods, not to mention the merchants’ exploitation of this issue in order to increase their imports at the expense of the citizen.”

Price Fluctuation

For his part, the economic expert, Dr. Ali Al-Shami, told Al-Masra that “there is a fluctuation in currency rates in the Iraqi markets, due to the formation of the new government, as well as the presence of previous statements by the political parties that formed that government to return the dollar exchange rate to its previous position or to the status of Average, and also the impact of the new prime minister’s policy on the country’s monetary policy, all of these certainly have an impact on the fluctuation of currency rates, and thus the concerns of economists and the negative cases accompanying such a political situation.”

Stagnation And Stagnation

Al-Shami stressed that "this new fluctuating situation will have a role in the coming months on the Iraqi economic reality, and consequently, there will be some reluctance and economic stagnation because of this fluctuation in currency rates."

Negative Role

As for the economic expert, Dr. Najm Tarish, he indicated to (Al-Masra) that “changing the exchange rate still has a negative role on the financial centers of citizens, meaning that citizens were associated with specific financial centers previously identified by the Central Bank, and their transactions began to proceed according to this subject, and this situation created a kind of From fears, caution and economic downturn, and consequently a recession that may harm the poor classes in particular,”

noting that “the price of the dollar against the Iraqi dinar must be determined according to the purely economic considerations determined by economists, not political rivalries and outbidding, as well as trying to win people’s affection and feelings through slogans.” .

Transparency And Clarity

Tarish added, "Until today, no Iraqi official has come out and speaks to the citizens in a clear and transparent way and tries to alleviate or eliminate the state of turmoil that pervades the markets, because frankly this is the government's responsibility, as it must be clear and transparent in dealing with its citizens in all fields, nor It leaves a loophole that is exploited for slogans and propaganda that may lead to negative effects on the Iraqi economy in the future.”

Affected

And Muhammad Shia Al-Sudani announced in previous statements to him when he was a deputy in Parliament before the assignment, that nearly (17) million Iraqis were affected by the decision to adopt the dollar exchange, and called at the time the government to take urgent protection measures and serious treatments to alleviate them with the need to reconsider the minimum salary .   LINK

The Iraqi Stock Exchange Closed Lower, And 17 Billion Shares Were Traded

Market   Economy News / Baghdad   During the first week of November 2022, the Iraq Stock Exchange organized five trading sessions from Sunday, 10/30/2022 to Thursday, 03/11/2022. During this week, the following indicators were achieved

1. The number of shares traded during this week reached more than (17) billion shares.

2. The value of traded shares this week amounted to more than (6) billion dinars.

3. The market trading index closed for the first session of the week at (600.43) points, while the index closed at (584.71) points at the end of the week, achieving a decrease of (2.69%) compared to its closing at the beginning of the session.

4. During the week, more than (2800) purchase and sale contracts were executed on the shares of companies listed in the market.   Views 113 Added 11/03/2022 - 2:58 PM Update 11/03/2022 - 6:43 PM

https://economy-news.net/content.php?id=30569

Finance Begins Canceling Customs Orders And Approvals Issued After October 8, 2021

Money and business   Economy News – Baghdad Today, Thursday, the Ministry of Finance announced the implementation of the recommendations of the Council of Ministers regarding the cancellation of the customs orders and approvals issued after October 8, 2021.

The ministry said in a statement, that it "began to implement the decisions issued by the cabinet meetings in its second session, including Resolution 280 regarding the cancellation of all decisions of the caretaker government in the previous government after the date of October 8, 2021, related to the issuance of Diwaniyah orders to occupy administrative positions."

The ministry affirmed "its explicit commitment to implement all decisions issued by the Council of Ministers," noting that it "is proceeding with all relevant legal procedures, and that all decisions issued by the previous government after this date do not acquire legal status according to the Iraqi constitution."  73 . views   Added 11/03/2022 - 4:02 PM   Update 11/03/2022 - 6:42 PM

https://economy-news.net/content.php?id=30570

The rise in the exchange rates of the dollar in Iraq

Economie| 10:11 - 03/11/2022 Baghdad - Mawazine News, the dollar exchange rates rose slightly on the Iraqi Stock Exchange, today, Thursday.

And the selling prices of the dollar were 146.300 dinars per 100 dollars, while the purchase prices of the dollar were 146.200 dinars per 100 dollars.  https://www.mawazin.net/Details.aspx?jimare=210079

Falling Oil Prices In World Markets

Economie| 08:44 - 03/11/2022   Follow-up - Mawazine News:  Oil futures fell early, Thursday, with the dollar holding on to the Fed's hawkish stance, but concerns about looming supply risks kept prices lower.

Brent crude fell 36 cents, or 0.37 percent, to $ 95.80 a barrel at 014:12 GMT, while US West Texas Intermediate crude futures fell 50 cents, or 0.56 percent, to $ 89.50.

Benchmark indexes settled higher by more than $1 on Wednesday, buoyed by another drop in US oil inventories, even as the Federal Reserve raised interest rates by 75 basis points. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=210070

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

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"Embezzlement, Corruption, and Smuggling" News From Iraq : Posted by Samson at KTFA

KTFA:

Samson:  Corruption and "obscene wealth"... Parliamentary demand for the Council of Ministers to find an alternative to the currency auction

3rd November, 2022

On Thursday, MP Majid Shankali called for an alternative to the currency sale auction in the Central Bank, indicating that this would contribute to providing cash liquidity to pay salaries and budget expenses

Shankali said in a tweet on Twitter seen by "Al-Ghad Press", "The Cabinet is required to find an alternative to the currency sale auction in the Central Bank to provide cash to pay salaries and budget expenses," noting that "the auction has become a door to outrageous wealth for owners of private banks and exchange companies." Which has no business other than buying and selling dollars, except for the suspicions of corruption that are hovering around the auction  LINK

Samson:  Political analyst: Big names involved in corruption and the currency auction, the largest families

02/11/2022 23:14:16

The political analyst, Sarmad Al-Bayati, indicated that big names were involved in "corruption" and described the currency auction as "the biggest secret."

  Al-Bayati said; For the “Al-Mastra” program, broadcast by Al-Furat satellite channel this evening, that: “There are networks and holes in the pipelines for stealing oil that still exist, and the topic was raised several years ago, and whoever commits oil theft has an integrated map from which he inquires about the locations of the pipelines, and the smuggled oil money may not return to the state treasury."

Al-Bayati stressed, “The need for drones to detect oil theft operations in Basra and Kirkuk,” likening the thefts to “a corruption pandemic, which is similar to Corona, and there are two contacts, and Prime Minister Muhammad Shia Al-Sudani needs signatures from those who contributed to spreading corruption to control the corrupt.” 

He called for "the formation of a mini-committee of no more than 5 judges to combat corruption," adding, "there are mafias that deliberately kill everyone who comes close to their places, and there are large and high-level names that have been implicated in corruption and no one can approach them."

Al-Bayati continued, "One of the priorities of the government curriculum is the fight against corruption, and the currency auction is the biggest secret in Iraq and is not capable of it, and it does not seem that there is a realistic alternative to this auction in the administration of the state." Promise, Iraq's import of $250 million per day is "a fantasy, and we hope the Minister of Finance will address the issue."

Al-Bayati concluded, by saying, "The currency auction is a way to convert the dollar into Iraqi dinars, and the revenues that salaries need come from taxes and transactions, and the entitlement of political forces should be limited to the House of Representatives and not be imposed on the prime minister."

On Wednesday evening, Prime Minister Muhammad Shia Al-Sudani announced the dismantling of the largest oil smuggling network in Basra Governorate. Al-Sudani said in a tweet on {Twitter}, that: “We directed the tracking of oil smuggling networks and the implementation of arrest warrants against the gangs that dared and roamed to steal the right of the Iraqis, and with God’s help, the National Security Service detachments, in cooperation with other agencies, were able to dismantle the largest oil smuggling network in Basra."

Al-Sudani stressed, "We will spare no effort and will work day and night to fight corruption in its various forms."   LINK

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Samson:  The Iraqi Ministry of Interior decides to retire officers involved in corruption

3rd November, 2022

An informed source said, on Thursday, that the Iraqi Ministry of Interior intends to retire officers accused of financial and administrative corruption cases in preparation for holding them accountable.

The source told Shafaq News Agency, that the opinion body in the Ministry of Interior discussed the retirement of a number of officers who were proven to have administrative and financial corruption in order to eliminate slack and remove the corrupt from the ministry's joints.

He explained that those officers were referred to retirement, and the Integrity Commission will initiate the procedures for holding them accountable.

This comes in conjunction with the arrest of a special force from the intelligence service yesterday, the Director of Operations Affairs, Major General Diaa Al-Moussawi, according to a judicial arrest warrant for his involvement in financial corruption cases.

The Council of Ministers voted the day before yesterday, Tuesday, to cancel all orders and job appointments issued by the previous daily caretaker government headed by Mustafa Al-Kazemi, which were issued after the date of October 8, 2021.  LINK

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Samson:  The Iraqi judiciary announces new details about the investigation into the "theft of the century"

3rd November, 2022

The Karkh Investigation Court, which specializes in integrity issues, announced on Thursday the details of the procedures taken to complete the investigations into the case of seizing tax trusts, what is known as "the theft of the century".

The media center of the Supreme Judicial Council stated in a statement today, "The court has taken additional measures against a number of other defendants from the General Tax Authority, and that investigations are continuing to determine the responsibilities of other parties that have contributed to facilitating the seizure of these funds."

He added, "Despite the complexity of the investigations into the case, the court focused on the importance of counting the sums of money that were seized in preparation for their recovery, and it formed a specialized committee to inventory the sums of money and real estate located inside and outside the country."

The statement pointed out that "in this regard, precautionary seizure has been placed on approximately (55) properties in Baghdad, and investigations are underway for the rest of the properties in other provinces."

And he added, "a seizure has been placed on financial shares belonging to the accused and his family, estimated at (167.650.000.000) one hundred and sixty-seven billion six hundred and fifty million dinars, as well as cash balances with a value of (108,000,000,000) one hundred and eight billion Iraqi dinars, in addition to shares estimated at a value of With (100,000,000) one hundred billion Iraqi dinars in one of the commercial malls in Baghdad.

It is noteworthy that last October, witnessed the disclosure of a huge embezzlement of trust funds in the General Tax Authority for an amount of 3.7 trillion Iraqi dinars (two and a half billion US dollars), and according to the Integrity Commission, the case is still under investigation to reach all those involved.

Judicial arrest warrants were also issued against a number of parties to the case, most notably the director of the "Innovators" company, Noor Zuhair Al-Mudhaffar.

Yesterday, Wednesday, Prime Minister Muhammad Shia Al-Sudani called on the international community to help Iraq recover the fugitives in the tax insurance case, what is known in the media as "the theft of the century."  LINK

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Samson:  The director of a banking company was sentenced to four years in prison and a fine of nearly (3.5) billion dinars

2nd November, 2022
The Federal Integrity Commission revealed the issuance of a four-year prison sentence against the director of a banking company, and a fine of approximately (3.5) billion dinars, as a result of illegal financial transactions. 

The Commission's Investigation Department stated: "The Central Anti-Corruption Criminal Court issued a judgment in the presence of four years in prison and a fine of two billion dinars and one million US dollars, against the manager of a banking company."

It belongs to the money of the former head of the Baghdad Investment Commission, and the purchase of real estate for the accused and its registration in the name of his wife, the accused fugitive.

She indicated that the court, after reviewing the evidence obtained and the evidence in the case, and the investigative papers, reached the negligence of the accused, and decided to convict him in accordance with the provisions of Article (36) of the Money Laundering Law.  LINK

Samson:  Integrity announces a reward of up to 5 million dollars

03/11/2022 08:49:41

The Integrity Commission announced a reward for informants about the financial rights of the Iraqi state, amounting to five million dollars.

The head of the commission, Alaa Al-Saadi, in his capacity as head of the Iraq Money Recovery Fund, indicated that, "among the privileges granted by law to those cooperating with the fund, they are exempted from the amounts owed by them at a rate of 25 percent and up to (5) million dollars of the recovered money as a maximum and by obtaining the approval of the Council of Ministers. The law gives informants about the financial rights of the Iraqi state a reward estimated at (10) percent of the recovered money, provided that it does not exceed (5) million dollars of that money.

He explained that "the rewards stipulated in the law allocated to informants are distributed among them in the event of their multiplicity, according to the role of each of them in recovering the money and the importance of the information that led to its recovery, taking into account the standard of time."

Al-Saadi pointed out that "the management of the Fund circulated to all ministries and agencies not associated with the Ministry of the need not to sign economic or investment agreements with countries without referring to the Fund, with the intention of involving it in those bilateral agreements to urge countries to remove obstacles that prevent the recovery of the financial rights of the Republic of Iraq, stressing response to the Fund's request.

And about the extent to which the provisions of Article (4), Clause Eleven of the Fund Law, which states (granting a reward to the informant at a rate of (10) percent, provided that it does not exceed (5) million dollars of the recovered money), Al-Saadi confirmed that “the provisions of this article were actually applied with one He was handed over his share in accordance with the concluded settlement agreement, revealing that there are many reports that are still in the process of investigation and scrutiny regarding the issue of informants’ rewards.  LINK

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Samson:  With names and details... Al-Sudani announces the dismantling of "the largest oil smuggling network in Basra"

2nd November, 2022

A document obtained by Shafak News Agency revealed, on Wednesday, the arrest of nine senior officers, including the Director General of Energy Police, Major General Ghanem Muhammad Jaafar Hassan, in connection with the case of smuggling oil derivatives.

The list also included, in addition to Major General Ghanem, 4 officers at the rank of brigadier general: the Director of the North Oil Police, the Central Oil Police, the Director of the Department of the Energy Police Directorate, and the Director of North Controls.

It also included two officers with the rank of colonel, the director of the Relations and Media Department, the Office of the Director-General of the Energy Police and the commander of the Dora Refinery Regiment, in addition to a lieutenant-colonel (director of the Central Oil Police Controls Department) and an officer with the rank of major (the Relations and Media Department accompanying the Director-General of the Energy Police).

In this context, Prime Minister Muhammad Shia Al-Sudani announced the dismantling of the largest oil smuggling network in Basra.

Al-Sudani said in a tweet seen by Shafak News Agency, "We directed the tracking of oil smuggling networks and the implementation of arrest warrants against the gangs that dared to steal the right of Iraqis, and with God's help, the National Security Service detachments, in cooperation with other agencies, were able to dismantle the largest oil smuggling network in Basra."  He added, "We will spare no effort and will work day and night to fight corruption in its various forms."

Yesterday, Tuesday, a security source announced the arrest of the commander of the company headquarters, the Sixth Regiment, the Southern Oil Police.

The source told Shafaq News Agency, that the arrest was made on the orders of the Minister of Interior, Abdul Amir Al-Shammari, who also decided to arrest the director of the South Oil Police. He pointed out that these decisions are related to the file of the arrest of the Director of Energy Police, Major General Ghanem Al-Husseini, which is being investigated, and its details will be announced later.

And on Monday, a security source said that the Director of Energy Police, Major General Ghanem Al-Husseini, had been arrested for unknown reasons.  LINK

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Samson:  Smuggled 75 million liters per month.. Details of the overthrow of a large network of Iraqi oil theft, including officers and senior officials

2nd November, 2022

The National Security Agency revealed, on Wednesday, the details of the overthrow of a large network for theft and smuggling of crude oil in the southernmost province of Basra, while noting that among the network's members are senior officers and merchants, he explained that the smuggled quantities are estimated at 75 million liters per month.

And the agency said in a statement read by its spokesman, and it was reported to Shafaq News Agency, that "in one of the qualitative operations based on accurate intelligence information, a force of the agency in Basra Governorate managed to thwart one of the largest operations of smuggling and theft of crude oil, carried out by a network led by a merchant and includes officers of the rank of High officials and senior officials were arrested according to judicial warrants.

He added, "These networks practice theft and smuggling operations by creating (holes) in the crude oil export lines located in the Zubair oil field, and then another pipe is connected to these (holes), where it is buried and delivered to a dirt road for smuggling. The daily smuggled quantities are estimated from ( Five to (seven) tanks with a capacity of (fifty) thousand liters per breach, while the number of smuggled tanks is estimated from (forty) to (fifty) tanks at a rate of (seventy-five) million liters per month.

The agency added, "The statements of the fundamentalist suspects have been written down and investigations are still underway, and more details will be clarified if the investigation procedures are completed." A document obtained by Shafak News Agency revealed today, Wednesday, the arrest of nine senior officers, including the Director General of Energy Police, Major General Ghanem Muhammad Jaafar Hassan, on the background of the oil derivatives smuggling case.

The list also included, in addition to Major General Ghanem, 4 officers at the rank of brigadier general: the Director of the North Oil Police, the Central Oil Police, the Director of the Department of the Energy Police Directorate, and the Director of North Controls.

It also included two officers with the rank of colonel, the director of the Relations and Media Department, the Office of the Director-General of the Energy Police and the commander of the Dora Refinery Regiment, in addition to a lieutenant-colonel (director of the Central Oil Police Controls Department) and an officer with the rank of major (the Relations and Media Department accompanying the Director-General of the Energy Police).

In this context, Prime Minister Muhammad Shia Al-Sudani announced the dismantling of the largest oil smuggling network in Basra.

Al-Sudani said in a tweet seen by Shafak News Agency, "We directed the tracking of oil smuggling networks and the implementation of arrest warrants against the gangs that dared to steal the right of Iraqis, and with God's help, the National Security Service detachments, in cooperation with other agencies, were able to dismantle the largest oil smuggling network in Basra." . He added, "We will spare no effort and will work day and night to fight corruption in its various forms."

Assuming a lower estimate for selling this smuggling network, at a price of $50 per barrel of oil, the revenue generated by the network from selling 75 million barrels per month is close to $4 billion.

"Tidbits From TNT" Thursday AM 11-3-2022

TNT:

Cutebwoy:  Iraq dismantles a network of high-ranking officers involved in smuggling oil derivatives

Shafaq News/ Nine officers, including the energy police chief, have been apprehended for being involved in a fuel smuggling scandal at the country's oil hub, an official document revealed on Wednesday.

Beside the Director-General of the Energy Police, Major-General Ghanem Mohammad Jaafar Hasan, the roster includes the energy police commanders of northern and middle Iraq, the administrative director, and the commander of the north's security checkpoints.

Iraq's new Prime Minister Mohammad Shiyaa al-Sudani said that the Iraqi security forces managed to dismantle a large network for smuggling oil derivatives in the southern governorate of Basra.

Chevy:  Tony said this at the very end of the call today - "OKAY. BANKS BEING PUT ON NOTICE I JUST GOT IT. NOT TODAY OR TOMORROW. WE'LL SEE WHAT HAPPENS."

MontanaCoach:  Hope the bank notice us for this weekend!! We can always Hope!!

JudiBlueEyes:  Massive confusion at the end is what we expected and we sure are getting it. Stay focused and keep your vibrations high. Speak it into fruition. Keep studying your speech with Mr. Drysdale. ….. Remember this if your ship hasn't come in, swim out to it!

Joe:  I hope my ship comes in before my dock rots !

RVAlready:  Good morning! I hope Iraq jumps straight to 1 to 1 or better. 1300, 1200, 1100, or 1000 to 1 offers little to Iraq. Everyone is eagerly awaiting 1 to 1 or better….I  think the UN and IMF want to see at least 1 to 1. Probably by the end of November.

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Tishwash:  Banks and banks banned from the currency auction after they were suspected of being involved in looting tax money

Sources, 11-03-2022, revealed security and security decisions to stop the Middle East banks, Al-Ansari and Al-Haqed from dealing in the currency auction against the background of precautionary measures regarding the file of looting tax deposits.

According to the information, this measure was taken, after it was proven that these banks, in agreement with the Central Bank, withdrew their balances, to remove their funds from any legal procedures related to involvement in the looting of tax funds.

He directed the Central Bank to seize the funds of family members accused of stealing tax deposits.

The Iraqi politician, Adnan Al-Zarfi, revealed the refusal of the concerned government agencies to sign with a European company specialized in financial auditing, despite the availability of four solid international companies, as the finance refused to sign with one of them for special reasons. He added: If the contracting process had taken place, the tax deposits, amounting to 3.7 trillion dinars, would not have been looted!   link

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Tishwash:  The approach to forming the venerable Iraqi sovereign fund..who forms it methodologically and structurally and implement

A knowledge base that “on the path, the path is formed”, but we are still in the steps of thinking about shaping the path of the methodology of the sovereign fund. Undoubtedly, the scientific methodological theorizing about the sovereign investment fund is not scientifically and methodologically difficult, but the stumbling obstacle in practical application, as is the case with the obstacle of transition to a type of budget Programs and objectives in the federal general budget. 

It highlights the importance necessary to focus methodically and practically to contain and enable the shift from scientific theorizing to the reality and methodology of the applicable financial and economic model, which is the biggest challenge for government economic officials. In this regard, we think in parallel who is the party responsible for forming and formulating the structure of the Iraqi Sovereign Fund in a real and realistic way, methodologically, structurally and institutionally, in the reality of institutional work away from non-productive and practically unproductive theorizing! 

  Sovereign funds can be created and formed from federal budget surpluses, government revenue surpluses from the activities of companies whose assets occupy a significant share, revenue from certain tax savings, including foreign exchange reserves of central banks, and international trade surpluses. This, for example, is how money is made in China.

Sovereign funds, representing the state, dispose of national savings, invest them in funds of various companies and other financial instruments, in particular, in stocks, bonds and funds of foreign countries. In principle, the foreign exchange reserves of the Fund are used differently from the official reserves of the government. 

Specifically, the state usually has two other schemes for investing financial resources:
 a central bank that invests primarily in bonds, and state-owned companies that invest their money in private equity. But the resources of the last two institutions can also be transferred by the state to sovereign funds. 

Sovereign investment funds, owned by the governments of sovereign countries, manage state rental income (the public domain) and budget surpluses. Each sovereign fund seeks to increase its potential and capabilities by investing in various national and international financial instruments.

If the main goal of pension funds is to ensure the financing of pension obligations, then sovereign accumulation funds pursue various goals, such as: pooling savings for future generations, promoting the implementation of social and economic projects, and protecting the economy from fluctuations. In commodity prices, to promote restructuring and scientific and technical development.

This management of national wealth in the name of developing society and the state as a whole can be considered a new type of modern international economic approach based on the formation of national welfare funds. It opens new horizons for organization, planning and macroeconomic methodology. From the foregoing, there are several questions that seem logical and objective in the reality of the proactive thinking approach to the issue of forming the Iraqi sovereign fund, including    link

CandyKisses:  FALL LEAVES DANCE

Mot:  ~ Starting to Snow Outside Soooooooo ---

Thursday Early AM Iraq Economic News Highlights 11-3-22

Thursday Early AM Iraq Economic News Highlights 11-3-22

The Exchange Rate.. Fluctuation And Chaos Burdened The Citizen

Posted On2022-11-03 By Sotaliraq   Reporting: Fouad Abdullah   As soon as the new government was formed, news and gossip surfaced promoting the possibility of reducing the dollar exchange rate and returning it to its previous era, and the extent to which Prime Minister Muhammad Shia Al-Sudani was able to adopt some sensitive economic issues, including returning the dollar price to its previous position, which was one of the most prominent criticisms that It was directed by the forces of the coordination framework for former Prime Minister Mustafa Al-Kazemi.

Political Influence

The journalist Ali Al-Hadi explained to (Al-Masra) that as citizens, "we note in recent years that there is a significant impact of politics on the monetary and financial situation of the country, which led to the creation of major problems, including the change in the dollar exchange rate, which in turn formed a crisis and chaos in the Iraqi markets," noting That “the change that took place in the exchange rate burdened the citizen because the prices of goods rose and created a continuous fluctuation in the value of goods, not to mention the merchants’ exploitation of this issue in order to increase their imports at the expense of the citizen.”

Price Fluctuation

For his part, the economic expert, Dr. Ali Al-Shami, told Al-Masra that “there is a fluctuation in currency rates in the Iraqi markets, due to the formation of the new government, as well as the presence of previous statements by the political parties that formed that government to return the dollar exchange rate to its previous position or to the status of Average, and also the impact of the new prime minister’s policy on the country’s monetary policy, all of these certainly have an impact on the fluctuation of currency rates, and thus the concerns of economists and the negative cases accompanying such a political situation.”

Stagnation And Stagnation

Al-Shami stressed that "this new fluctuating situation will have a role in the coming months on the Iraqi economic reality, and consequently, there will be some reluctance and economic stagnation because of this fluctuation in currency rates."

Negative Role

As for the economic expert, Dr. Najm Tarish, he indicated to (Al-Masra) that “changing the exchange rate still has a negative role on the financial centers of citizens, meaning that citizens were associated with specific financial centers previously identified by the Central Bank, and their transactions began to proceed according to this subject, and this situation created a kind of From fears, caution and economic downturn, and consequently a recession that may harm the poor classes in particular,” noting that “the price of the dollar against the Iraqi dinar must be determined according to the purely economic considerations determined by economists, not political rivalries and outbidding, as well as trying to win people’s affection and feelings through slogans.” .

Transparency and Clarity

Tarish added, "Until today, no Iraqi official has come out and speaks to the citizens in a clear and transparent way and tries to alleviate or eliminate the state of turmoil that pervades the markets, because frankly this is the government's responsibility, as it must be clear and transparent in dealing with its citizens in all fields, nor It leaves a loophole that is exploited for slogans and propaganda that may lead to negative effects on the Iraqi economy in the future.”

Affected

And Muhammad Shia Al-Sudani announced in previous statements to him when he was a deputy in Parliament before the assignment, that nearly (17) million Iraqis were affected by the decision to adopt the dollar exchange, and called at the time the government to take urgent protection measures and serious treatments to alleviate them with the need to reconsider the minimum salary .   LINK

Al-Sudani Sets Budget Priorities And Issues Directives

Shafaq News/ On Wednesday, Prime Minister Muhammad Shia Al-Sudani set the priorities that should be focused on in the federal budget law for the next year, while issuing a directive regarding its law.

Al-Sudani’s media office stated in a statement received by Shafaq News Agency, that the latter chaired a meeting that included Finance Minister Taif Sami, Oil Minister Hayan Abdel Ghani, Minister of Electricity Ziad Ali Fadel, and a number of advisors, and they discussed the file of the draft federal budget law for 2023, and the need to expedite its preparation, and send it to Parliament.

Al-Sudani directed that the budget be at the level of ambition, and that it prioritizes meeting the needs of citizens for services, as well as taking it upon itself to effectively address the problem of electricity shortage, which has greatly affected the life of the citizen and the economic sectors in the country.

And the Prime Minister, Muhammad Shia Al-Sudani, had previously directed the necessity of preparing the Federal Budget Law for the year 2023 as soon as possible.   LINK

The President Of The Republic: The Iraqi Government Has The Responsibility To Reach An Understanding With Turkey And Iran Regarding The Water Crisis

Posted On2022-11-02 By Sotaliraq   The President of the Republic, Abdul Latif Rashid, stressed that the Iraqi government has the responsibility to develop the understanding from Turkey and Iran regarding the water crisis, in addition to working on the new government's response to the will of the Iraqi people for reform and strengthening Baghdad's role regionally and internationally.

During his speech at the 31st Arab Summit, which was held in the Algerian capital, Algiers, Rashid said that "the Iraqi government has many responsibilities that it will work on and in response to the will of our people for reform and construction and to enhance Iraq's effectiveness in its regional and international surroundings."

He added, "These are tasks that require the government a lot of strength, firmness and wisdom, as well as all national forces to support, and we expect that the government's efforts will receive a positive interaction from brotherly and friendly countries."

With regard to the water file with neighboring countries, he stated that the Iraqi government “has the responsibility to develop an understanding with the brothers in the two neighboring countries, the Republic of Turkey and the Islamic Republic of Iran regarding our problem with the water crisis of the two rivers, after the drop in the water levels incoming to them, and this has led to a reduction in the amount of water in the marshes.” Iraq.”

He expressed his hope that "we will work on developing water resources management from a technical point of view, and that serious dialogue will be productive of solutions that preserve life, the environment and the climate, and preserve the livelihoods of citizens and the country's economy."

The President of the Republic affirmed Iraq’s keenness on “Syria’s sovereignty, territorial integrity and the safety of its people,” expressing his support for “the completion of political talks between all Syrian parties in a way that enhances security, peace and democracy and consolidates efforts to end the humanitarian crisis suffered by the Syrian brothers.”

In addition, he also expressed Iraq's full support and standing "by Lebanon's side in order to put aside differences and overcome the political and economic crisis that the country is going through."

On the Palestinian issue, he affirmed Iraq's adherence to "the legitimate right of the Palestinian people to establish their state on all Palestinian lands, with Jerusalem as its capital."

Rashid called for "compliance with Security Council Resolution No. 478 of 1980 in the face of all attempts to move diplomatic missions to Zahrat al-Madaen."

Disclaimer: All published articles represent the opinion of its authors only   LINK

The Prime Minister Announces The Dismantling Of The Largest Oil Smuggling Network In Basra

Posted On2022-11-03 By Sotaliraq   Journalist: Sajjad Shankali   On Wednesday, the Prime Minister, Muhammad Shia Al-Sudani, announced the dismantling of the largest oil smuggling network in Basra Governorate.

And journalist Sajjad Shankali quoted Al-Sudani’s tweet via Twitter, “We directed them to track down oil smuggling networks and implement arrest warrants against the gangs that dared and roamed to steal the rights of the Iraqis,” noting that “the National Security Service detachments, in cooperation with other agencies, managed to dismantle the largest oil smuggling network. in Basra.

The Prime Minister stressed, "We will spare no effort and will work day and night to combat corruption in its various forms."

Disclaimer: All published articles represent the opinion of its authors only    LINK

Nechirvan Barzani: We Are Dealing With The Oil File From A Commercial Perspective... The Goal Is Not To Violate Iraq's Sovereignty

Posted On2022-11-03 By Sotaliraq   The President of the Kurdistan Region, Nechirvan Barzani, stressed, on Wednesday, that the region does not want the oil file to violate sovereignty in Iraq, and that the region deals with this file from a commercial perspective.

Nechirvan Barzani said in his speech on the sidelines of hosting him at the Miri Forum on Middle East Affairs: “Since 2004 until now, the two main Kurdish parties (the Kurdistan Democratic Party and the Patriotic Union of Kurdistan) have signed several agreements to solve budget problems, Shingal, and Article 140 of the constitution, setting up A time limit for resolving them,” he asked, “until when Baghdad imagines that these problems will remain unresolved, and if it wants a politically and economically stable Iraq, it must resolve the differences with the Kurdistan Region.”

He went on to say, "The Kurdistan Region wants a solution to these problems, and it has a loud voice in that at the regional and international levels, and it is in Baghdad's interest to take the initiative to solve them, so what does Baghdad benefit when we tell countries that they do not want to solve those problems?" Baghdad can solve these problems from a political point of view, and this is not a big issue.”

The head of the region stressed by saying: “We do not want to violate the sovereignty in Iraq through the oil file, and we want to deal with oil commercially in the interest of all of Iraq,” adding: “But the issue of oil is always linked to sovereignty, and oil cannot achieve independence.” For the Kurdistan Region because of the geography in which the map of Kurdistan is located, but oil can only bring prosperity to the people.”

He continued, "After 2003, the United States and the West told us that the Iraq that will be established is a new Iraq that will include everyone," adding, "Therefore we participated in it with enthusiasm and vitality."

Nechirvan Barzani said: "It is not too late to build a new Iraq," stressing that "the political stability of Iraq is the stability of the Kurdistan Region."

He added that "if the outstanding problems between Erbil and Baghdad are resolved, Iraq will enter a new phase," noting that "commitment to the constitution will solve all problems."

He stressed that "dealing with the logic of the strong and the weak will not solve Iraq's problems," and said: "We need solutions to live on a geography called Iraq."

He pointed out that "a new generation has risen in Iraq and is watching how countries are developing around it," stressing that "the Iraqi people also deserve better living conditions than the ones they live in now."

He stressed that "democracy is not a gift given to countries, but rather a culture that people learn how to practice."

He pointed out that "there are non-Iraqi actors that influence decision-making," stressing "the importance of searching for solutions to manage the state."

He explained that "the new Iraqi Prime Minister, Muhammad Shiaa al-Sudani, is supported by Shiite, Kurdish and Sunni political forces."

He continued, "We in Iraq are still far from the mentality of a strong government that monitors its actions by an organized opposition," stressing that "Iraq is going through a transitional period."[/size]

Nechirvan Barzani said: "After 2003, this is the first time that we sign an agreement with the Iraqi political forces before we agreed to participate in the new government," stressing that "all forces signed the text of that agreement document."

He added that "the document signed between us includes the approval of the oil and gas law, Kurdistan's share of the federal budget and the implementation of Article 140 of the Constitution," noting that "a specific time limit has been set for its implementation."

He stressed that "to build a politically and economically stable Iraq, all problems with the Kurdistan Region must first be resolved."

Regarding the Turkish and Iranian bombing, he said: "We do not want the Kurdistan Region to be a springboard to threaten our neighboring countries," but he called on the Iraqi government to take the repeated bombing by the two countries seriously.

Nechirvan Barzani said, "The Kurdistan Region proposed to Baghdad that a joint committee be formed from the federal government and the regional government regarding violations, because this matter is related to the sovereignty and security of Kurdistan," stressing that "this file is primarily related to the federal government, but it did nothing towards the end of right Now".   LINK

More MilitiaMan Wednesday Night "Budgets" 11-2-2022

KTFA:

Determining the date of the next session of Parliament and its most important expected projects

2nd November, 2022

Representative of the State of Law coalition, Muhammad Chihod, announced, on Wednesday, the date of the next parliamentary session, indicating that Parliament is awaiting the completion of the budget in the coming days.

Chihoud said in a statement to "The Information", "Parliament will resume its session early next week to pass many important service laws, as well as to complete the booth of Muhammad Shia al-Sudani."

 He added that "harmony between the government and parliament during the current session is important and should be exploited in an ideal way to pass controversial laws and end any political conflict."

He pointed out that "the most important laws expected to arrive in the coming days are the budget," noting that "the budget will be passed smoothly due to the political harmony of the forces of the State Building Alliance."  LINK

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"In March 2022, MEES forecasted oil revenues for OPEC producers, and even if oil prices averaged $90 per barrel through the end of the year — which given the current situation is the low end — Iraq is expected to earn some $115 billion. This is $20 billion more than its previous annual record of $94 billion in 2012. Baghdad is now boasting about its record-breaking oil export revenues, some $11.44 billion for May alone. Alas, without a budget or legally binding emergency spending legislation, the monies cannot be touched — a true dilemma for the political elites in Baghdad."

https://www.mei.edu/publications/iraq-once-again-leaps-void-not-political-elites-secure-funding

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MilitiaMan:  It looks like hindsight with respect to budgets can be very telling.. The direct link above is from June 2022 .

We know at present, that there were obstacles from the past with respect to the Government and the Budget of 2022 that have been sorted and or are being sorted now.

It is clear to many and not so much to others, that the 2022 budget had issues and therefore, the Emergency Food Security Law as it is sometimes called or more appropriately the “Food Security and Development Bill,” was activated at a 12/1 ratio for operational items, as noted in the 2021 budget, 2019 FMLA, etc..

The part that has not yet to be sorted is the second part of the 2022 budget that was for the investment side of things, private sector if you will. Notice in the above paragraph they tell us why.. It is to keep out of the political ELITE's hands (corruption) until the time was right for allocations.

That time is now, as there is a full government and a "final" session to seal that is in days. Both the Government and "" Budget are to be hand in hand. Just as the Government and the CBI go hand in hand. 

It is noted that we now see a seated government and now there is talk of an effectively seamless transition to the 2023 budget. However, the above doesn't mention the 2023 budget at all, other articles are talking of the 2023 budget, especially lately.

The top article mentions a "budget" only.. No time frame to it. Thus, it is my view and a simple deduction, is that there has to be closure for the 2022 budget and it's reconciliation (audited) along with subsequent budgets back through 2003. We know that 2003 - 2021 audits were completed, thus, the 20022 budget would be next, and so on..

Well the part about the second half of 2022 is key.

There is likely no way that the CBI or GOI would openly tell you exactly what they are doing. Rules and regulations hinder that sort of thing.

Thus, the same goes for the parliament.. They will likely only get the data pertinent to the sensitive data within the budget's reconciliation until after the fact.

Therefore, the data in the 2022 budget reconciliation would only be released by the CBI prior to any release to them for sensitivity issues. As we can see the political harmony for the budget to be passed will be done smoothly they say, as it will likely be the calculations needed for the 2023 budget template they have ready to go imo already, and which is expected to be for the citizens benefit.

 The EFSL and the emphasis from Kahdimi and Al- Sadr is for the citizens.. We shall see if this holds true or even close to it, shortly.. lol

 Imo I bet it is very close to being accurate.. imo Lets see.. I like it.. ~ MM 

Iraqi News Highlights Wednesday Evening 11-2-22

Iraqi News Highlights Wednesday Evening 11-2-22

Tlm724 Administrator Bondlady’s Corner

Al-Sudani identifies the party responsible for changing the dollar exchange rate-urgent

2,375 politics 2022/11/01 19:00   Baghdad today-Baghdad  Sudanese Prime Minister Mohammed Shiaa on Tuesday directed all ministers to prepare the government program and submit it within a week, indicating that changing the dollar exchange rate is the prerogative of the central bank.

Al-Sudani stressed during the Cabinet session in a statement received (Baghdad today) "the government is moving forward to implement its government program through high coordination between state institutions, and urged", demanding", all ministers to develop the work system within their ministries and build the capabilities of their employees in order to achieve the ministry's goals and development policies.

Al-Sudani, according to the statement, "directed all ministers to prepare the government program within a maximum period of one week, in accordance with the ministerial curriculum that focuses on the issues of unemployment,  poverty,  services,  supporting the economy and  combating corruption, and

stressed that the assessment of ministers will be based on their efforts and performance in the fight against corruption.

He also called for "speeding up the establishment of a unified Treasury Account to control funds in the state and prevent their leakage and waste,

as well as for ministers to review all contracts concluded under previous governments and find out their compliance with controls and instructions".

https://baghdadtoday.news/ar/news/205022/السوداني-يحدد-الجهة-المس

An Economist Shows How Long It Is Necessary To Return The Exchange Rate.. These Are His Influences

October 31, 20:15  Information/ private..  The Economist Jalil al-Lami, on Monday, the necessary period to return the dollar exchange rate back to the previous value,

explaining at the same time the impact of labor investment companies on the Iraqi economy.

"It is not possible to return the dollar exchange rate to what it was before, especially at the moment," al-Lami said, noting that

"according to economic laws and customs, we need at least five years between each exchange rate change and another".

He added that  "the duration of the change in dollar rates must be less than five years,

otherwise Iraq will lose its credit standing among international investment and development companies," pointing out that

"these companies cannot keep up or keep pace with the changes taking place rapidly in Iraq because the capital is cowardly and needs security and safety.

The Economist explained that "rapid changes in the dollar prices will directly affect Iraq's belonging status abroad".

Earlier, the Ministry of Finance announced the actual start of the preparation of the budget law for 2023, indicating that

"the adjustment of the dollar exchange rate within the policies of the government and the Council of ministers is the one who makes the decision, but the budget has not yet been put forward".

Finance Minister Taif Sami said earlier that  "one of the most important priorities of the new government and the ministry is to submit the draft federal budget for the year ٢٠٢٣ and approve it.

https://almaalomah.me/news/economy/اقتصادي-يبين-المدة-اللازمة-لإعادة-سعر-الصرف-هذه-تأثيراته

This Is The Controller.. Economist: Changing The Dollar Exchange Rate Is Quite Possible

Today 15:41  Information / Baghdad..  Economist Nabil al-Marsoumi said on Tuesday that the possibility of changing the dollar exchange rate is possible, in light of the political control of the economic wheel in Iraq.

"Reducing the dollar exchange rate against the dinar is very possible for political reasons, to gain the satisfaction of some people or to fulfill previous promises,"Al-Marsoumi said in a Facebook post that I have seen /the information/.

He added that the decision to reduce may be taken "even if the decision has significant economic repercussions or costs".

He pointed out that  "it is difficult to predict the new price of the dollar even if the Ministry of Finance and the central bank deny the possibility of adjusting the exchange rate because politics in Iraq is driving the economy". https://almaalomah.me/news/economy/هذا-هو-المتحكم-اقتصادي:-تغيير-سعر-صرف-الدولار-ممكن-جدا

After Oscillation ... Assurances That There Is No Step To Change The Dollar Exchange Rate Against The Dinar

Today 08:50   Information / Baghdad...The dollar exchange rates against the dinar continue to fluctuate in the local market value, despite the absence of any official decision to change the value of the Iraqi dinar,

at a time when political and specialized parties confirmed that there were no decisions or directions to change the exchange rate despite the formation of the new government,

amid speculation from some parties to make the reduction by the Sudanese government, although all assurances point to finding economic remedies and not changing the exchange rate.

"The central bank had a clear statement and stressed that it is not possible to change the dollar exchange rate, and

this rate will remain in force at least during the next year, and

anything that is put forward about the reduction is only statements,"said Jamal Koger, a member of the Parliamentary Finance Committee.

On the other hand, Rasul Radi, a member of the state of Law Coalition, told Al-Malouma that

"Prime Minister-designate Mohammed Shiaa al-Sudani presented his government program and did not include reducing the dollar exchange rate against the dinar,

but it included economic aspects related to unemployment, providing job opportunities, investment, reconstruction, completing stalled projects and investment agreements with abroad.

On the other hand, economist Hashim al-habbawi explained to /information/, that

"the decline in the dollar exchange rate against the Iraqi dinar on the local exchange is an exceptional case and the exchange rate will return as it was days ago," indicating that

"the central exchange rate is the policy of the central bank and it is not easy to manipulate the rate because the Iraqi economy is currently built on the exchange rate of 1460 dinars per dollar, and if this is done, the decline will be gradual.  

https://almaalomah.me/news/economy/بعد-التذبذب-تأكيدات-بعدم-وجود-أي-خطوة-لتغيير-سعر-صرف-الدولار

Controls Regulating The Work Of Exchange Companies And Brokering The Sale And Purchase Of Foreign Currencies

November 01, 2022   The Central Bank of Iraq confirms that it does not deal with kcard outlets with internal and external money transfers,or deal with all types of external transfers,  except for transfers via Western Union and moneykram systems, which are available for categories (A, B) only.     https://cbi.iq/news/view/2114

World Bank: The Policy Of Changing The Dollar Exchange Rate Is The Prerogative Of The Iraqi Government

The World Bank confirmed on Monday that the policy of changing the dollar exchange rate is the prerogative of the Iraqi government.

The World Bank said in a statement followed by (first news), that “the policy of changing the dollar exchange rate is the prerogative of the Iraqi government”.

https://www.awla.news/البنك-الدولي-سياسة-تغيير-سعر-صرف-الدول/

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

https://www.bondladyscorner.com/

Some "International News" Posted by Samson at KTFA Wednesday 11-2-2022

KTFA:

Samson:  Iraqi premier to raise Iraqi dinar value

2nd November, 2022

Iraqi government with the help of the Central Bank of Iraq, do its best to increase the price of Iraqi dinar against US dollar, Mohammed Shia al-Sudani, Iraq’s new premier, said in a press conference on Tuesday.

“The interests of the needy were not taken into consideration in devaluing Iraqi currency. We tend not to repeat that in this cabinet,” he said.

Tackling endemic corruption in the country is one of the priorities of this cabinet, he said.

The Iraqi government work with other neighboring other countries to return Iraq’s “stolen money,” he added.

Faced by financial crisis caused by low oil prices amid COVID-19 pandemic, the Iraqi Central Bank decided to devalue the currency, setting the exchange rate at 1,460 dinars per dollar to the public.

Before the decision, each dollar was traded at 1,182 Iraqi dinars.

As Iraq’s market is heavily relied upon imports, the decision sparked public outrage and demonstrations, outcrying the rising prices of commodities.

The former Finance Minister Ali A. Allawi argued that the rising commodity prices was part of the global inflation, defending the devaluation decision as it had increased the state revenue amid liquidity crisis.

LINK

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Samson:  Turkey ranks first in the world in buying gold.. 95 tons in just 9 months

1st November, 2022

Central banks broke the quarterly record in gold purchases, and the Turkish Central Bank was among the largest banks to adopt purchases, according to the World Gold Council report for the third quarter of 2022

Huge rise in gold purchases

Gold purchases by global central banks rose 115% in the third quarter, as the quantity approached 400 tons, the highest quarterly purchases in the last 22 years. This amount also nearly doubled from 241 tons in 2018

Turkish Central in the lead

The Central Bank of the Republic of Turkey bought 95 tons of gold this year. The central bank bought 31 tons of gold in the third quarter of the year.  In the first nine months of the year, it bought 95 tons and increased its total gold reserves to 489 tons. This figure corresponds to 29% of the total reserves

Turkey's central bank chief, Kavcioglu, answered questions from journalists and economists in his presentation of the inflation report last week. One of the questions that arose was related to the increase in gold reserves. Kavcioglu also made the following assessment regarding the gold purchases

When you increase, you get angry, when you fall, you get angry… How big are our gold reserves, and what’s wrong with that? The central bank is mostly criticized for its reserves, but the reserves of the world’s central banks have fallen by more than a trillion dollars since the beginning of the year. While the reserves of the Turkish Central Bank have increased, and gold has a share in that

Kavci added, “Also, the increase in our gold reserves is not a huge number, but we have taken encouraging decisions to store gold. As a result, the reserves of the Turkish Central Bank are increasing. There is no point in linking the matter to anything.” This is a process that started much earlier, as a result of these decisions very important, our gold reserves have reached an important point today. We are trying to continue these policies with additional actions and contributions

Larger reserves

The Governor of the Central Bank of Turkey also said, “Our gold reserves will increase even more. Turkey has a very important potential in terms of gold. Therefore, as the central bank, we are working with other institutions and the Treasury to contribute to supporting the economy. We will achieve good results  LINK

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Samson:  The Russian Foreign Ministry awards the Iraqi ambassador the Interaction Medal for his prominent role in strengthening and strengthening relations between the two countries

2nd November, 2022

The Ambassador of the Republic of Iraq in Moscow, Ambassador Abdul Rahman Hamid Al-Husseini, met with the Special Envoy of the President of the Russian Federation for the Middle East and North Africa, Mikhail Bogdanov, Deputy Foreign Minister of Russia, on the occasion of the end of his duties as the Ambassador of the Republic of Iraq to the Russian Federation.

A Foreign Ministry statement stated that during the meeting, a set of issues related to the further development of traditional friendly relations between Russia and Iraq were discussed, and the firm position of Moscow and Baghdad in maintaining an active political dialogue on Middle Eastern issues and international issues of common interest was also emphasized.

In the end, Mikhail Bogdanov awarded Ambassador Abd al-Rahman al-Husseini the "Interaction" medal, in recognition of his great contribution to strengthening Russian-Iraqi relations.  LINK

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Samson:  The collapse of the Iranian currency to a record level

2nd November, 2022

The price of the dollar in the open market increased, on Wednesday, by 500 tomans compared to Tuesday, to reach more than 34,300 tomans.

According to the "Iran International" website, "After the dollar's price hit another record, Iranians lined up in long queues in front of exchange offices in a number of cities, including Tehran and Mashhad, to buy dollars."

The Iranian currency market witnessed turmoil over the past days, in conjunction with the continuation of demonstrations in Iranian cities, and the insistence of the Western authorities to stop negotiations to revive the nuclear agreement.

On Tuesday, the price of the dollar in the Tehran open market reached a new historical record, exceeding the number 33,500 tomans. The upward trend of the dollar price in recent days has been such that its price has seen a big difference in the past 10 days.

Meanwhile, the Central Bank of Iran announced that the official rate for the dollar is 4200 tomans. According to the official reports of the Central Bank, the buying and selling of dollars in the market also recorded the highest level in the past month, reaching more than 18 million dollars on Monday.

The turmoil in the dollar market came as news was published on Sunday that more than 3,650 billion tomans had been withdrawn from the Tehran Stock Exchange in the previous ten days.

It is noteworthy that during the past three months, the Tehran Stock Exchange lost a quarter of its value, and its market value decreased from 100 thousand billion and 6 million tomans to 600 thousand billion and 4 million tomans.

On the other hand, the withdrawal of more than 3,650 billion tomans comes from the funds of natural persons, while government economic officials and market managers expected a positive reaction from real shareholders to the 10-point support package announced by the government on Saturday.  LINK

Samson:  Iran imposes sanctions on 14 US entities and individuals

1st November, 2022

The Iranian Foreign Ministry imposed sanctions on 14 US individuals and entities for their violations of human rights, incitement, support for terrorist practices, and promotion of violence in Iran.

In a statement, the ministry stated that it had imposed sanctions on 10 individuals and 4 entities, including the US Central Intelligence Agency (CIA) and the US National Guard, in implementation of the Law (Confronting Violation of Human Rights and Terrorist Practices of the United States of America in the region).

She stressed that the sanctions were taken due to committing activities against human rights, interfering in Iran's internal affairs, promoting violence and chaos in Iran, inciting and encouraging terrorist practices, obstructing the country's efforts and activities in combating terrorism, and finally increasing pressure on the Iranian people, which is one of the sources of economic terrorism. 

She indicated that the sanctions will include preventing the issuance of non-entry into Iranian territory, freezing their bank accounts in the financial and banking system, and freezing funds and assets within the framework of the sovereignty of the Islamic Republic of Iran.   LINK

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Samson:  Dubai to host the Iraq British Business Council conference this month

01/11/2022 18:13:30

 The conference of the Iraqi-British Business Council (IBBC) will be launched in Dubai this month, under the auspices of the President of the Council, Baroness Emma Nicholson, under the slogan (Iraq and identifying business opportunities for the private sector).

  Director of the Iraqi British Business Council IBBC Christoph Michaels said in a press statement that the conference will bring together official government figures from Iraq, the UAE and the United Kingdom, in the presence of the Iraqi ambassador to the UAE and the UK ambassador to Iraq, in addition to representatives from major companies operating in those countries and other international companies.

Michaels confirmed the participation and presence of the Governor of the Central Bank of Iraq as a key speaker in this conference, in addition to the President of the Trade Bank of Iraq TBI. He added, that the conference sessions will cover the sectors of energy, industry, finance, water resources and the environment.

And Michelis pointed out that the main objective of the conference is to advance the reality of the private sector in Iraq to build an economy capable of providing job opportunities for all Iraqis away from the public sector.  LINK

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Samson:  A manager at Iraqi Airways was caught red-handed with a $40,000 bribe

2nd November, 2022

The Federal Integrity Commission announced today, Wednesday, the implementation of an arrest warrant against an airline director who requested a bribe from a private airline of $40,000.

In a statement received by Shafaq News Agency, the Integrity Commission said that its staff managed to arrest an employee of the Iraqi Airways company red-handed; In return for granting one of the companies approval for the flight license, an arrest warrant was executed against the director of the commercial department of the company.

The statement quoted the commission’s investigations department, that the commission’s investigation directorate in Baghdad had set up a team to investigate information contained in a complaint it received from an employee of one of the companies contracting with Iraqi airlines to contract “Garter” aircraft lease contracts from the airline company. For the purpose of transporting the passengers of the Chinese company (Maywei) to and from Iraq, stating that the director of the commercial department and a reservation employee at one of the airlines’ offices in Baghdad bargained with him and requested a sum of money; In exchange for obtaining "approval to fly".

The department continued, explaining that the team investigated this information and communicated with the complainant; In order to catch the accused in flagrante delicto, as he set up a tight ambush for the accused after obtaining a judicial note to conduct a search and arrest them, and they moved to the Al-Arasat area in Karrada, where an agreement was reached between the complainant and the complainant, and as soon as the detention officer received the bribe amount in Baghdad, the Commission's Investigation Directorate team was able to who caught him in flagrante delicto.

She added that the preliminary investigations, which were conducted by the team after implementing the operation that took place in accordance with the provisions of Resolution (160 of 1983), showed that the accused works as a reservation employee in the Adhamiya office of Iraqi Airways, and that it was agreed between the director of the commercial department and the complainant to split the bribe amount on He formed two payments, the first amounting to (40) thousand dollars, the amount of which was seized in the process, and the second payment of (30) thousand dollars, and based on what he said, an arrest warrant was issued against the second accused in the case, the director of the commercial department at Iraqi Airways, confirming that its staff were able to carry out The arrest warrant issued against him at Baghdad International Airport.

It noted the organization of two fundamentalist minutes; In order to present them, accompanied by the accused, and the seized documents, including the amount of the bribe, and video footage of the agreement concluded between the two parties (the complainant and the complainant), and the phone of the first accused, to the competent investigative judge; to take appropriate legal measures.  LINK

Iraqi News Highlights Wednesday Afternoon 11-2-22

Iraqi News Highlights Wednesday Afternoon 11-2-22

Tlm724 Administrator Bondlady’s Corner

Al-Maliki Proposes A Reduction In The Exchange Rate For The Sake Of The Citizen And The National Economy

Political | 04:36 - 02/11/2022   Baghdad - Mawazine News  The head of the State of Law coalition, Nuri al-Maliki, proposed, on Wednesday, a reduction in the dollar exchange rate in order to pay harm to the citizen and to the national economy.

Al-Maliki said in a tweet followed by / Mawazine News / that if the dollar exchange rate becomes 1375 dinars instead of 1450 dinars, we will pay the damage to the citizen and the national economy.

https://www.mawazin.net/Details.aspx?jimare=210011

A Sudden Drop In US Crude Stocks Raises Global Oil Prices

Economie| 08:31 - 02/11/2022   Follow-up - Mawazine News:  Oil prices rose in early trading by more than 1%, on Wednesday, after industry data showed a sudden drop in US crude stocks, indicating continued demand despite sharp increases in interest rates that hampered global growth.

Brent crude futures rose $1.22, or 1.29 percent, to $95.88 a barrel by 04:14 GMT.

US West Texas Intermediate crude futures also rose $1.30, or 0.47 percent, to $89.67 a barrel. Ended 29/N33  https://www.mawazin.net/Details.aspx?jimare=209960

Dollar Exchange Rates In Local Markets

Economie| 09:34 - 02/11/2022   Baghdad - Mawazine News  dollar exchange rates witnessed, today, Wednesday, a slight increase in the local stock exchange.

And the selling prices of the dollar were 146.300 dinars per 100 dollars, while the purchase prices of the dollar were 146.200 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=209

An Indicator Confirming The Development Of The Iraqi Economy.. Bank Of Jordan Opens Its First Branch In Baghdad

Money and business  Economy News – Baghdad The Bank of Jordan announced, on Wednesday, the launch of its operations in Iraq with the opening of its first branch in Baghdad, after obtaining all the necessary licenses from the Central Bank of Jordan and the Central Bank of Iraq, and fulfilling all conditions and procedures related to launching its business in the Iraqi market.

The Chairman of the Bank of Jordan, Shaker Fakhoury, said in a statement: "The decision to branch out in Iraq is a consolidation of our regional presence and a translation of the bank's strategy adopted by expanding its business in the countries of the region, whose markets are witnessing remarkable growth and promising opportunities, which will reflect positively on the services provided to our current and future customers.

We also strive To develop our banking system, in translation of the royal visions to increase investment, coordination and economic cooperation between the two countries, and to consolidate the strong economic and historical relations with Iraq.

Fakhoury added: "We are launching today in Iraq to translate the Bank of Jordan's long-standing career, which extends for more than 60 years in banking and financial work, and in a manner that reflects the success in implementing the bank's aspiring vision to become the leading bank in the Arab region, and to expand its branch network to include the Iraqi market, which is one of the The most important markets in the region,” noting that “the bank is currently working on preparing its first branch in Riyadh, Saudi Arabia, after recently obtaining a license to practice banking business in Saudi Arabia.” and investment."

Fakhoury praised the efforts of the Central Bank of Iraq in facilitating the opening of a branch of the Bank of Jordan in the capital, Baghdad.

Fakhoury pointed out that "this step expresses Bank of Jordan's commitment to designing its branch network in a way that enables it to achieve its vision and strategic directions and serve its broad customer base through its traditional channels, in addition to providing electronic and digital services to all its customers."

He continued, "Mr. Jawdat Jawdat has been appointed CEO of the Bank in Iraq, who has a long and extensive experience of more than twenty-seven years in banking. He held a number of important positions during his work with major local, regional and international banking institutions."

According to the statement, "The Baghdad branch aims to provide financial and banking services that meet the needs of customers in accordance with the best international practices in this field. The bank's presence in Iraq will allow it to expand the scope of its services to its corporate clients located in Jordan and Iraq.

The branch is also characterized by a design that is consistent with the innovative concept of the business environment. Within the banking industry sector, and its compliance with the latest standards of customer privacy concepts, within interactive channels and facilitated procedures.”

According to the statement, "Bank of Jordan works in accordance with the approach of continuous improvement and development in all its activities and fields of work, and keeps pace with the rapid developments witnessed by the banking industry in accordance with the best international practices. The Bank strives towards excellence locally and regionally without neglecting its role and societal mission, and through its team of qualified and trained employees who support The vision and strategy of the bank and building on the accumulated achievements year after year.

The statement continued, "The Bank of Jordan is one of the oldest Jordanian banks with roots dating back to 1960, and it has a wide presence that established it throughout its career, until it is present throughout the Middle East through its branches, subsidiaries and digital and electronic channels. The Bank of Jordan group includes both Bank of Jordan Jordan, its branches operating in Palestine, Bahrain Wholesale Branch, and its subsidiaries:

Bank of Jordan - Syria, Excellence for Financial Investments, Jordan Financial Leasing Company, and today Bank of Jordan - Iraq The Bank of Jordan Group’s banking network across the countries in which it is present includes: 83 branches In Jordan, there are 17 branches in Palestine, one in Bahrain, 12 branches of the Bank of Jordan - Syria, and 252 ATMs serving all customer segments.

126 . views   Added 02/11/2022 - 2:29 PM   Update 02/11/2022 - 6:03 PM

https://economy-news.net/content.php?id=30548

Central Bank Governor: We Launched Development Initiatives That Amounted To (18) Trillion Dinars

Economie| 05:22 - 02/11/2022   Baghdad - Mawazine News  The Governor of the Central Bank, Mustafa Ghaleb Mikhaif, announced, on Wednesday, the launch of development initiatives that amounted to (18) trillion dinars.

A statement of the Central Bank, which Mawazine News received a copy of, stated that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, received today, Wednesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Mrs. in the interest of Iraq.

And Makheif stressed, according to the statement, that "the Central Bank of Iraq launched development initiatives that amounted to (18) trillion dinars, which contributed to moving the wheel of the Iraqi economy, and provided thousands of job opportunities."

He added: "The Bank is performing its roles set out by law and continues to provide initiatives to support government trends in providing job opportunities for young people and achieving their goals to implement their projects. His Excellency stressed the need to advance the reality of the financial and banking sector in line with international standards." Ended 29/R77

https://www.mawazin.net/Details.aspx?jimare=210016

Al-Sudani: We Need International Support To Recover The Smuggled Money From Iraq

money and business   Economy News-Baghdad   Today, Wednesday, Prime Minister Muhammad Shia Al-Sudani stressed the need for Iraq to support the international community to recover its money, especially with the issue of tax insurance, while the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Plasschaert, referred to the efforts of the Sudanese government and its seriousness in combating corruption.

The media office of the Prime Minister said in a statement that "Prime Minister Muhammad Shia Al-Sudani received, today, Wednesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert and her accompanying delegation," noting that "the efforts of the current government to enhance stability and consolidate the democratic path were discussed." ".

He added that "the meeting witnessed a review of the government's plans to address the file of the displaced, by working to secure their return to their areas after providing them with a decent life and stability." for the current stage.

Al-Sudani stressed that "the government will activate the laws in force and benefit from the experiences of successful countries in this field," noting "Iraq's need to support the international community in order to recover its smuggled money, as well as to recover those wanted by the judiciary from those convicted and involved in corruption cases, especially in the tax insurance issue."

For her part, Plasschaert offered assistance through United Nations programs to provide training and logistical support, noting "the efforts of the Sudanese government and its seriousness in combating corruption and its emphasis on curbing its practices."

65 . views   Added 02/11/2022 - 12:55 PM   Update 02/11/2022 - 6:06 PM

https://economy-news.net/content.php?id=30546

The General Secretariat Of The Council Of Ministers Concludes The Meetings On The Implementation Of The Administrative Reform Strategy

Wednesday 02 November 2022 18:11 | politicalNumber of readings: 33  Baghdad / NINA / - The Government Coordination and Citizens Affairs Department in the General Secretariat of the Council of Ministers concluded its meetings to discuss the axes of the administrative reform strategy in state institutions.

A statement by the General Secretariat of the Council of Ministers stated, "The last meeting of the committee, which was held in the building of the General Secretariat, headed by the Director General of the Government Coordination Department, Ali Makki, dealt with the eighth axis, which aims to enhance transparency and integrity in the work of the state's administrative apparatus in coordination between the concerned authorities represented by the ministries of Planning and Finance.

The Integrity Commission, as well as the Legal Department and the Office of Information and Government Communication in the General Secretariat of the Council of Ministers and all state institutions.

Makki indicated that the mechanism for implementing the Transparency Enhancement Program will include activating the national integrity and anti-corruption strategies (2021-2022) and the Public Financial Investments Management (PIM) project, and designing campaigns to raise legal awareness for employees of government institutions and raise awareness of the harms of corruption to the employee and the state, in implementation of anti-corruption policies. Corruption, as the time frame for implementing the measures was defined by three levels of short, medium and long-term plans.

The statement added, "The meeting concluded with a number of recommendations, most notably setting up a mechanism to follow up the implementation of the strategy through the formation of committees by diwaniyah orders, to follow up on the implementation of the eight axes of the strategy, to be chaired by the main bodies responsible for implementing each axis, while the role of the Government Coordination Department will be (coordinator and focal point). between committees) to collect data and issue reports.”/ End H    https://ninanews.com/Website/News/Details?key=1011588

Romansky: America Supports The Sudanese To Confront Corruption And We Provide All Assistance To Iraq

Today, Wednesday, the US Ambassador to Iraq, Elena Romansky, announced her country's support for the government of Prime Minister Muhammad Shia Al-Sudani, calling on Baghdad and the Kurdistan Region to solve their problems.

Romansky said in her speech during the Middle East Forum 2022 held in Erbil that the US administration will provide the necessary support to the federal government headed by Prime Minister Muhammad Shia Al-Sudani in order to confront financial and administrative corruption and carry out reform in the Iraqi economy sector.

She stressed, "America will not withdraw from Iraq and will remain here as announced by the President of the United States of America, Joe Biden, noting that there is a long-term commitment between Washington and Baghdad and that they are implementing the 2008 strategic agreement and providing assistance to Iraq in all fields."

Romansky praised the efforts of the Kurdistan Region in forming the Iraqi government and called on the region and Baghdad to address the problems between them.

https://www.radionawa.com/all-detail.aspx?jimare=31954

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

https://www.bondladyscorner.com/

MilitiaMan: "Perfect Storm For An RI" Wednesday PM 11-2-2022

KTFA:

Clare:  Al-Sudani resolves the position on the re-change of the dollar exchange rate and calls the term “corruption pandemic”

01/11/2022 

The Prime Minister, Muhammad Shia Al-Sudani, has identified the Central Bank of Iraq as the only concerned party in changing or restoring the dollar exchange rate.

Al-Sudani said in his first press conference after forming the government and gaining the confidence of the House of Representatives: “The central bank is the only responsible party for changing the dollar exchange, and as an executive authority we are committed to this aspect and we support the independence of the bank and the government is committed to implementing the law.”
However, he added: "But the decision to change the exchange rate in the past was not accompanied by measures to protect the poor classes."

Regarding the fight against corruption, the Prime Minister launched the term "corruption pandemic", referring to it as a "serious threat to the Iraqi state."

And he indicated that "the danger of corruption lies in planning for it without fear of deterrence," noting that "the procedures for recovering the stolen amounts from the tax trusts are continuing and are being followed up daily."

Al-Sudani added, "Without real measures, anti-corruption slogans will be a mere absurdity," stressing that "the recovery of the looted funds will be a key focus in relations with the countries of the world, and we will not remain silent about the stolen and looted money smuggled abroad in countries known to us and known corrupt as well."

The Prime Minister warned against "any minister condoning corruption files, as he will be under the law, and the ministers will be evaluated on this basis, and we will adopt frankness and openness with the people."

Al-Sudani stressed the government’s vision in the next stage, writing and approving the ministerial curriculum within the Council of Ministers within two weeks from now, and our priorities are to combat poverty, unemployment and corruption, carry out economic reforms and provide services.

He pointed out, "I directed the Ministry of Commerce to enhance our strategic storage of basic food supplies."

He announced that "the government is going to activate and implement the health insurance law, and there are offers from foreign companies to jointly operate and invest in government hospitals," explaining that "implementing the health insurance law will guarantee the advancement of the health sector."

He stressed, "removing the security establishment from any political investment and the security services concerned with preserving the prestige of the state."

Al-Sudani pointed out that he "emphasized to friends and international partners the sovereignty and interest of Iraq."

He explained that "the cabinet's schedule will focus on the needs of the people, not fillers," noting that "the caretaker government does not have the authority to issue appointment orders and agreements."

He added that "the abolition of the decisions to appoint heads of agencies and advisers is not within the calculations of a policy or the exclusion of certain parties, but in implementation of the decision of the Federal Court, which is applicable and implementation," stressing that "the approach of this government's work will be towards implementing the law and judicial decisions."

He announced, "forming an engineering effort to provide urgent services, and we will go to the field to implement service projects in the governorates, and there will be a clear difference in services."

The Prime Minister stressed that "the agricultural plan for the winter season is late, and the recommendations of the committee concerned with preparing the winter agricultural plan have been approved, and it will be up to 5.5 million dunams," announcing "the approval of recommendations to compensate farmers affected by not planting the yam crop, up to 120 billion dinars."

Al-Sudani said: "We are working on studying the file of procedures and contracts with Resolution 315 in an accurate and personal manner, and we asked the Ministry of Finance to check the numbers of contracts and procedures and make recommendations."

He promised "the law to protect the product is a sacred matter and directive to support national products," noting that "burning associated gas causes great financial waste, and we have a vision to invest associated gas."

And on the financial budget for 2023, the Prime Minister announced that he "directed all ministries today to prepare the 2023 budget and determine its priorities, as we are keen to present the budget as soon as possible."

Regarding the date of holding early parliamentary elections, Al-Sudani explained that "this decision concerns the House of Representatives and the government is ready to meet the requirements for holding them," pointing out that "the provincial elections will be held no later than October 2023."

Al-Sudani affirmed that his government "will continue with Iraq's mediation between Iran and Saudi Arabia, and it is in Iraq's interest to play this role."

And regarding the presence of the international coalition forces in the country between the Commander-in-Chief of the Armed Forces, “the agreement with the political forces provided for authorizing and authorizing the prime minister to conduct a dialogue with the international coalition and through the relevant ministries, and it would be professional to determine the need for the international coalition as numbers with advisers, tasks and advice, and to exchange information and in light of that and what would result It is a government decision that all political parties will abide by, and we will proceed to complete this dialogue according to what is planned.”  LINK

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

MilitiaMan:  Look at the timing of this one today.. The subject of the exchange rate change has been in the news so much the new PM has to come out and set the record straight. The Central Bank of Iraq is the only one concerned with the exchange rate.

The Government has other concerns noted in Article 110 of the Constitution. One is the issuance of currency, among many others. The PM is stating that the Government is committed to the aspect of the independence of the Central Bank and that the government will implement the law on the matter. It takes two to tango independently. No touchy, touchy.. lol..

One of the prerogatives of the Government is Fiscal and Customs Policy, administering a Central Bank, Issuing Currency, formulating foreign sovereign economic and trade policy and regulating, standards, weights and measures.

So, with the World Bank, IMF, UN, USA, etc, giving the green light of support we could say that the time is now. They have a seated and assigned cabinet of ministers today. One the president suggests is for 4 years. That sounds like security and stability on that front.

The CBI has nothing but good reserves, gold reserves, high oil pricing, taxes and tariffs are electronic as is more and more of the Government, inflation under control and the green light..

Looks like a perfect storm for an RI.. lol imo.. ~ MM

Wednesday Early AM Iraq Parliament News Highlights 11-2-22

Wednesday Early AM Iraq Parliament News Highlights 11-2-22

Parliamentary Finance: The 2023 budget will be around $150 billion

Money and business   Economy News-Baghdad   The Parliamentary Finance Committee announced that the budget for the year 2023 will differ from its predecessors by the presence of an investment component that is commensurate with the new government program to provide services, while clarifying the possibility that the budget includes new appointments.

A member of the Finance Committee, Jamal Kougar, said in a statement reported by the official newspaper that “the 2023 budget will approach from 130 to 150 billion dollars, at a fixed exchange rate based on the price of crude between 70 to 75,” adding, “What distinguishes it is that it will be a different investment budget to provide services.” Meaning, it will be a real balance."

Cougar added, "The presence of loans in the budget is not excluded, and it is not a defect, as is the case with the budgets of the largest countries in the world, and that some loans may be grants or loans proposed by some countries for specific strategic projects," considering the inclusion of loans that "it does not mean bankruptcy." Rather, it depends on the form of the budget, if it sponsors many strategic and vital projects that are comprehensive for all governorates, then the budget may not be sufficient to cover expenses, and for this, loans are resorted to.”

And about adding new resources to the budget, he said: “This is supposed to happen in the next budget if the prime minister’s words about reforms are true, because corruption steals some of the existing resources,” noting that “there are resources that the government can invest, in religious tourism that the state spends on, At a time when it is said that there are 40 million annual visitors to religious shrines.

Cougar indicated the inclusion of the petrodollar clause in the 2023 budget, explaining that "next year will witness the disbursement of petrodollars to the concerned governorates, despite its presence in all budgets, but governments did not spend it."

Regarding employment, Cougar said: “So far, it is not known that the budget includes appointments, perhaps those covered by the Food Security Law will be included in it, to prepare new appointments,” noting that “the Finance Committee can amend the budget without adding financial paragraphs, because It has the power to reduce spending, not increase it."

The deputy added that “the deadline for preparing the budget is normal, and the government is able to send it in the second half of November or its end, and there will be forty days to legislate it, and thus there will be enough time for the government to launch it in the second half of January 2023, in line with the government’s investment service program, Because the operational side is almost fixed.

Views 85   Added 11/02/2022 - 9:23 AM   Update 02/11/2022 - 1:06 PM

https://economy-news.net/content.php?id=30535

Blackshart During The Sudanese Meeting: The Iraqi Government Is Serious About Fighting Corruption

Political | 12:28 - 02/11/2022   Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani stressed today, Wednesday, the need for Iraq to support the international community to recover its money, especially in the issue of tax insurances, while the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Plasschaert, referred to the efforts of the Sudanese government and its seriousness in combating corruption.

The media office of the Prime Minister said in a statement that Mawazine News received a copy of it, that "Prime Minister Muhammad Shiaa al-Sudani received, today, Wednesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert and her accompanying delegation," noting that "the efforts of the United Nations Secretary-General in Iraq were discussed." The current government aims to promote stability and consolidate the democratic path.

He added that "the meeting witnessed a review of the government's plans to address the file of the displaced, by working to secure their return to their areas after providing them with a decent life and stability." for the current stage.

Al-Sudani stressed that "the government will activate the laws in force and benefit from the experiences of successful countries in this field," noting "Iraq's need to support the international community in order to recover its smuggled money, as well as to recover those wanted by the judiciary from those convicted and involved in corruption cases, especially in the tax insurance issue."

For its part, Plasschaert offered assistance through United Nations programs to provide training and logistical support, noting "the efforts of the Sudanese government and its seriousness in combating corruption and its emphasis on curbing its practices." Ended 29 / M 99

https://www.mawazin.net/Details.aspx?jimare=20998

Khashan accuses the Integrity Commission of stealing tax money[/size]

Political | 11:15 - 02/11/2022   Baghdad - Mawazine News, today, Wednesday, the Iraqi parliament member, Basem Khashan, accused the Federal Integrity Commission of involvement in the theft of tax trust funds.    https://www.mawazin.net/Details.aspx?jimare=209978

Al-Sudani draws the lines of the Iraqi foreign policy and calls the term “corruption pandemic”

Posted On2022-11-02 By Sotaliraq   On Tuesday, Prime Minister Muhammad Shia Al-Sudani launched the term “corruption pandemic” and considered it a “serious threat” to the Iraqi state.

Al-Sudani said in his speech after the cabinet session held under his presidency that “the corruption pandemic is a serious threat to the Iraqi state,” explaining that “the procedures for recovering the stolen amounts from the tax trusts are continuing and are being followed up daily.”

[size=45]He continued, "We will not remain silent about the looted funds, and we will not repeat the contexts of previous governments regarding the fight against corruption," adding that "citizens want the perpetrators of corruption to be held accountable and to recover the stolen money."

It is clear that "the cabinet session confirmed the government's vision in its work for the next stage, and everyone is concerned with the success of the government's mission." Al-Sudani added, "We have set three weeks for the ministries to prepare the government program, and there will be a committee that will coordinate with the ministries in the matter of writing the program."

He added, "The fourth week will discuss the government program and its approval in the Council of Ministers, and there will be an evaluation of the ministries and governorates, and setting goals and programs according to the priorities of the ministerial curriculum."

The Prime Minister said, "We will go in the government program to the priorities," noting that "the government's priorities are addressing poverty and unemployment, combating corruption, economic reforms and providing services."

He continued, "Directs were issued to the ministries that we visited related to specific topics that are being pursued by a team of advisors, as well as directives related to strengthening the strategic storage of the ration card items."

Al-Sudani added, "We will go towards implementing the health insurance law, and we will agree with specialized companies to operate hospitals according to their regulations."

He stressed, "The security establishment must be kept away from any political investment," explaining that "the security services are concerned with preserving the prestige of the state."[/size]

Regarding the upcoming elections, Al-Sudani said, “The early elections are not only a government decision, and when Parliament dissolves itself, the government is ready to implement the elections.”

He also announced that "local elections (provincial councils) will be held in October of the year 2023."

Regarding Iraqi foreign policy, Al-Sudani said, "Our approach is to establish balanced relations with all countries, and there is international support for Iraq, and our compass is the interest of Iraq."

With regard to canceling the decisions of the previous government, Al-Sudani said that “the caretaker government does not have the authority to issue appointment orders and agreements,” explaining that “the cancellation of decisions to appoint heads of agencies and advisors is not within the calculations of politics or the exclusion of certain parties.”

He stressed that "the decisions of the Federal Court are applicable and the approach of this government's work will be towards implementing the law and judicial decisions."

With regard to the agricultural plan for the winter season, Al-Sudani indicated that it is “late,” and said that “the recommendations of the committee concerned with preparing the winter agricultural plan have been approved.”

He explained that "the winter plan will be in the range of five million five hundred thousand dunams," stressing that "the government is obligated to secure all the farmers' requirements."

Al-Sudani also announced the approval of the recommendations to compensate the farmers affected by not planting the yoghurt crop.   LINK

Al-Sudani: The Government Will Activate The Applicable Laws And Benefit From The Experiences Of Successful Countries

02/11/2022   Earth News/ Prime Minister Muhammad Shiaa al-Sudani confirmed today, Wednesday, that the government will activate the applicable laws and benefit from the successful experiences of countries.

The media office of the Prime Minister said in a statement received by Earth News, that "Prime Minister Muhammad Shiaa al-Sudani received, today, Wednesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert and her accompanying delegation," noting that "the efforts of the current government to strengthen stability and consolidation of the democratic path.”

He added that "the meeting witnessed a review of the government's plans to address the file of the displaced, by working to secure their return to their areas after providing them with a decent life and stability," noting that "the government's efforts to combat corruption through measures taken by the Prime Minister will be the first starting point for work in state institutions." for the current stage.

Al-Sudani stressed that “the government will activate the laws in force and benefit from the successful experiences of countries in this field,” noting “Iraq’s need to support the international community in order to recover its smuggled money, as well as to recover those wanted by the judiciary from those convicted and involved in corruption cases, especially in the case of tax insurance.”

For her part, Plasschaert offered assistance through United Nations programs to provide training and logistical support, noting "the efforts of the Sudanese government and its seriousness in combating corruption and its emphasis on curbing its practices."  https://earthiq.news/archives/160106

Sabeans Send A Message To The Three Presidencies Regarding "Marginalization And Deprivation" Of State Administration

Shafaq News/ The head of the Sabean-Mandaean bloc in the Iraqi parliament, Osama Al-Badri, sent on Wednesday a message to the three presidencies and public opinion, regarding the marginalization of the Mandaean component and their deprivation of participation in the state administration, like the people of the other components.

Al-Badri said, in a statement received by Shafaq News Agency, that it was confirmed to us and to the Iraqi and international public opinion, that "the principle of balance that all influential political forces are talking about is nothing but ink on paper, and it is not true, and the evidence for this is that the Mandaean component is deprived of the simplest ( Citizenship rights); we have no representation in the government, nor in the presidency, nor in the diplomatic corps.

He added that "the Mandaeans, who have academic and professional qualifications and cadres in various disciplines, with well-known distinction, honesty, sincerity and dedication - were not assigned a minister, nor an undersecretary, nor a director general in the Iraqi ministries, nor an ambassador, nor an advisor to the President of the Republic, or the Prime Minister, although the Prime Minister The late Republic, Jalal Talabani, stressed the need for an advisor from the Mandaean component, but his order has not been implemented for this moment.

Al-Badri pointed out that "the parliamentary seat of the Sabean-Mandaean bloc in the Iraqi parliament is representative of all Iraqis; Under the pretext that the component has one seat in Parliament, while the number of its sons deserves more than three seats.

He continued: "We direct this message and our hearts are wracked with pain, to impose a fait accompli policy against the people of the component, many of whose competencies migrated outside the country for reasons known to you."

The head of the Sabean-Mandaean bloc in Parliament concluded by saying: “Our message is to the three presidencies, and the political forces to be fair to us. spectra of the people, by exploiting their energies, and not by a policy of exclusion and marginalization.   LINK

The Turkmen Complain About The Marginalization Of The Sudanese.. The Kurdistan Experience Is The Best Option

Shafaq News/ The Turkmen component complained of the ministerial marginalization in the government formation of the Federal Prime Minister, Muhammad Shia Al-Sudani, while they called for the implementation of the Kurdistan Region's experience in real political partnership.

The head of the Turkmen People's Party and former Kirkuk council member Irfan Kirkuli told Shafaq News Agency, "There is a clear digestion of the national entitlement of the component, and a real attempt to remove the Turkmen from the center of the decision and marginalize it as previous governments have been working since the establishment of the Iraqi state."

He added, "Many of the people have the ability and high potential to occupy any government position to confirm that the Turkmen citizen is also loyal to the Iraqi soil and works for it," expressing his hope that "the Sudanese government will include all Iraqi components and that the real picture of democracy in Iraq will be completed through the inclusion of Everyone is in the prospective government scene, so that there is real competition, not for positions, but over who provides the largest and best service to the citizen.”

He pointed out that "the Turkmen component suffered a lot from terrorism and acts of violence and made many sacrifices in its regions for the sake of Iraq and confronting the terrorists. It offered thousands of martyrs in order to liberate the regions of the country that still suffer from the devastation inflicted on them."

Kirkuli appealed to people of good conscience to "deal with the Turkmen people and give them a ministry in your cabinet formation, as the Turkmens have proven over the decades that they work hard when they assume positions and work with high efficiency and testify to them for their sincerity in work."

The head of the Turkmen People's Party called for implementing the experience of real political partnership in Kurdistan, saying, "We hope the federal government in Baghdad will follow the example of the Kurdistan Regional Government, as the Turkmen enjoy their full national rights and have real participation in Parliament and the regional government."

He added: "The Turkmen people, who is the third nationalist in Iraq, were and still are loyal to their Iraqi affiliation despite all the injustice they are experiencing and the unfair treatment of the federal government in Baghdad towards it."

The Turkmen component occupies about 5% (6%) of the population in Iraq, and they are divided nationally and sectarianly between political parties and forces. National cleansing and systematic policy of persecution have been practiced against the Turkmen, but many of them still preserve their language, customs and traditions.

"Unofficial" estimates indicate that the number of Turkmen in Iraq exceeds 2.5 million, while Turkmen sources estimate their number at 3.5 million, and there is no impartial statistics on their number in Iraq, which is the case with all nationalities and religions in the country.

The Turkmen live in the "Turkmen Eli" region, which is in the form of a dividing line between the Kurdish region in the far north of Iraq and the Arab regions in the center and south, passing through "Ninawa" Governorate, and the city of Erbil, which is one of the oldest settlement centers for Turkmen.

Kirkuk is considered the historical city of the Turkmen, and in Tuz Khurmatu, Amerli, Yinkija Suleiman Bey and the Bayat villages in Salah al-Din Governorate, and the districts of Kifri and Khanaqin, and the districts of Qara Tabeh, Jalawla (Qarah Gan), Saadiya (Qizl Rabat), Mandali, Qazaniyah and Mansouriya in Diyala Governorate, and in Wasit Governorate, in addition to the presence of a number of A large number of Turkmens in the capital, Baghdad.   LINK