Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Money laundering disrupts efforts to implement the budget law

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269770
    Join date : 2012-12-21
    • Post n°1

    BUDGET - Money laundering disrupts efforts to implement the budget law Empty Money laundering disrupts efforts to implement the budget law

    Post by Rocky Tue 31 Oct 2023, 2:56 pm

    [size=38]Money laundering disrupts efforts to implement the budget law[/size]


    [You must be registered and logged in to see this image.]

    October 31, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: The budget law in Iraq is negatively affected by money laundering, and unless the plundering of public money stops, the implementation of the law will not achieve results on the ground, according to opinions.
    Representative Amer Abdul-Jabbar said in a blog post on AX that the budget law has been enacted for several months and the government is unable to implement it unless it stops money laundering and currency smuggling.
    He added that America does not release the dollar however the Central Bank of Iraq wants.
    Public funds are being systematically embezzled and transferred to the private accounts of influential entities and individuals, or to accounts belonging to external parties. This leads to a decrease in government revenues, and thus a lack of funds available to finance public expenditures.
    Money laundering operations inflated public expenditures, leading to an increase in the fiscal deficit. This leads to increased taxes or government borrowing.
    Money laundering negatively affects economic development by hindering investments and legitimate economic activities. This is because the funds generated from money laundering are often opaque and unreliable, making them unattractive to investors.
    In 2021, estimates revealed that about $350 billion were smuggled from the public treasury over 17 years. It is estimated that this money was laundered through fictitious contracts and investments, resulting in a decline in government revenues and an increase in the fiscal deficit.
    The Iraqi government approved a law to combat money laundering and terrorist financing in order to strengthen supervisory systems for financial institutions and combat corruption, which would help limit the impact of money laundering on the budget law.
     
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Thu 09 May 2024, 11:05 pm