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Iraqi economy defy central bank governor to prove an order

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dinar - Iraqi economy defy central bank governor to prove an order Empty Iraqi economy defy central bank governor to prove an order

Post by rocky on Tue 13 Nov 2018, 3:13 pm

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Iraqi economy defy central bank governor to prove an order[/size]
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Shafaq News / The remarks of the Governor of the Iraqi Center for Iraq Ali Alalak, during his hosting of parliament for the damage caused by the huge amount of rain water, a wave of anger among Iraqis on social networking sites.
Al-Alak said on Monday that the amount of 7 billion Iraqi dinars (about 5 million 882 thousand dollars) was damaged by 100 percent, due to leakage of rainwater to the coffers of Rafidain Bank, underestimating the importance of the matter because the amount is worth only the cost of printing.
The statements made by the Governor of the Central Bank of Kuwait have been widely discussed and questioned about the quality of the currency and the place of deposit, and the measures that the Bank provides to protect local currency against damage caused by any opposition to it.
The activists did not let the story pass easily. One of them posted a video clip in which he responded to the Governor's remarks by placing a paper currency in the water. Then the mud was poured on it and washed with detergent, and yet it was not damaged. How did the rainwater destroy 7 billion dinars?
The activists accused Iraqi officials of "inventing a new way to steal public money by throwing the reasons for the weather conditions and that what happened is a judgment and a measure of weather conditions."
The leaders of social networking sites called on Iraqi Prime Minister Adel Abdul Mahdi to investigate the matter and reveal the fate of this huge amount of Iraqi domestic cash.
Others ridiculed the reason cited by the governor of the Central District, where one of them wrote: "If you said that a gram ate them, it would be better for you."
Activists called on the Iraqi prime minister to dismiss the ties because he was the "legacy" of the government of former Prime Minister Nuri al-Maliki, accusing the latter of appointing the relations during the period of business to keep Iraqi money under the control of the Dawa Party.
About two months ago, the governor of the Central Bank Ali al-Alaq raised a great controversy after putting his name on the Iraqi currency instead of signing, in an unprecedented precedent since the establishment of the Iraqi state in 1920.
A month before the end of the government in March 2016, Prime Minister Nuri al-Maliki appointed the Secretary-General of the Council of Ministers Ali Al-Alaq as Governor of the Central Bank.



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dinar - Iraqi economy defy central bank governor to prove an order Empty Suron plans to question the relationship over the damage of seven billion as a result of the rains

Post by rocky on Tue 13 Nov 2018, 3:20 pm


Suron plans to question the relationship over the damage of seven billion as a result of the rains

18:56 - 13/11/2018
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Information / special ... 
announced an alliance moving Tuesday his intention to call the governor of the central bank agency on the Keywords coming days , a special session for questioning about seven billion dinars damage towater Raining, indicating that the case may bear suspicions of corruption. 
"The central bank and the banks have huge private deposits to keep money and deposits and are fully insured from all climatic conditions and to protect them against thefts and others," MP Ali Ghawi said. 
He added that "the claim of the governor of the bank more than seven billion dinars after the rain is surprising and confirms the existence of suspicions of corruption," wondering, "Was the Central Bank offered funds in public squares, what they offered to rain water or exist in private pickups?"
He said that "the alliance of others and through coordination with the other blocs will work to determine a special session in the coming days to question the governor of the Central Bank Agency on the relationship on the fate of those funds and how to leak water to it," adding that "the pretext of rain raise suspicions and confirm the existence of suspicions of corruption." 
The governor of the Central Bank Agency Ali Alalak announced on Monday, the damage of more than seven billion dinars because of rainwater

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dinar - Iraqi economy defy central bank governor to prove an order Empty Re: Iraqi economy defy central bank governor to prove an order

Post by Lobo on Tue 13 Nov 2018, 3:26 pm

Thanks Rocky, this will sound a "little out there" but the first thing that crossed my mind was - they have to reduce the note count - the less there is, the more it should be worth.  Well, "damage of seven billion as a result of the rains" - would be a way to reduce the note count and bring in the lower denoms to replace the large notes that were destroyed.
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dinar - Iraqi economy defy central bank governor to prove an order Empty Al-Fatawi calls on Abdul-Mahdi to hold the governor of the Central Bank and the director of the Rafi

Post by rocky on Tue 13 Nov 2018, 3:30 pm

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[size=32]Al-Fatawi calls on Abdul-Mahdi to hold the governor of the Central Bank and the director of the Rafidain Bank[/size]

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[rtl]Called the head of the movement of the will of Hanan al-Fatawi Prime Minister Adel Abdul-Mahdi to form an investigative committee to find out the circumstances of damage of seven billion dinars due to rain water.[/rtl]
[rtl]Al-Fatlawi demanded Abdul-Mahdi to hold the governor of the Central Bank Ali Al-Alaq and the director of the Rafidain Bank to cause them directly to this damage, stressing the need not to pass this subject without passing the accounting[/rtl]


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dinar - Iraqi economy defy central bank governor to prove an order Empty Parliamentary finance demands evidence to "damage" seven billion dinars because of rainwater

Post by rocky on Tue 13 Nov 2018, 3:31 pm

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[size=32]Parliamentary finance demands evidence to "damage" seven billion dinars because of rainwater[/size]

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[rtl]The parliamentary finance committee demanded the governor of the Central Bank of the Agency Ali Mohsen Alalak evidence to prove what he said about the damage of seven billion dinars because of rain water.[/rtl]
[rtl]Committee member Ahmad Hama Rachid explained that when the data is received, it will be checked and verified to verify its validity and the fact that such a sum is damaged, and that the information available to his committee says that the damaged currency is twelve billion Iraqi dinars and not seven.[/rtl]
[rtl]HA[/rtl]


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dinar - Iraqi economy defy central bank governor to prove an order Empty Rain "damage" seven billion dinars and Tamimi calls for an urgent investigation

Post by rocky on Tue 13 Nov 2018, 3:32 pm

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[size=32]Rain "damage" seven billion dinars and Tamimi calls for an urgent investigation[/size]

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[rtl]MP demanded the reform alliance Magda Tamimi need to open an urgent investigation to know the fate of the funds of Rafidain Bank.[/rtl]
[rtl]She added that the loss of the money under the pretext of sinking in the rainwater is a story that can not be accepted.[/rtl]
[rtl]The governor of the Central Bank Ali Alalak revealed damage to seven billion dinars due to rain water, and said the money was in the treasury of Rafidain Bank.[/rtl]
[rtl]HA[/rtl]


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dinar - Iraqi economy defy central bank governor to prove an order Empty Al-Fatawi calls on Abdul-Mahdi to hold the governor of the Central Bank and the director of the Rafi

Post by rocky on Tue 13 Nov 2018, 3:35 pm

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[size=32]Al-Fatawi calls on Abdul-Mahdi to hold the governor of the Central Bank and the director of the Rafidain Bank[/size]

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[rtl]Called the head of the movement of the will of Hanan al-Fatawi Prime Minister Adel Abdul-Mahdi to form an investigative committee to find out the circumstances of damage of seven billion dinars due to rain water.[/rtl]
[rtl]Al-Fatlawi demanded Abdul-Mahdi to hold the governor of the Central Bank Ali Al-Alaq and the director of the Rafidain Bank to cause them directly to this damage, stressing the need not to pass this subject without passing the accounting.[/rtl]


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dinar - Iraqi economy defy central bank governor to prove an order Empty New Central Bank comment on the damage of 7 billion dinars

Post by rocky on Tue 13 Nov 2018, 3:36 pm

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New Central Bank comment on the damage of 7 billion dinars

[/rtl]
[rtl]Date of release: 2018/11/13 22:31 • 870 times read[/rtl]
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(Baghdad: Al-Furat News) The Director-General of Finance Department in the Central Bank of Iraq, Saleh Mahoud, on Tuesday, the currency damage occurred on 29 January 2014 and the amount of damage due to rainwater 7 billion and 500 million dinars and drowning was a fate.
"There is a big question mark why the subject raised these days and the task of the Central Bank to issue the currency and clean the damaged ones," Mahood told the {Euphrates News} that "fines were imposed on the damage of the currency and the bank to restore the rehabilitation of the coffers of Rafidain Bank. 
He added that "the central bank has played its role in the process according to the law and its procedures, and that the process has been sound and according to the procedures and the function and functions of the Central Bank of Iraq and should not be confused, and the Central Bank instead of Rafidain Bank amounts drained by rainwater.
The governor of the Central Bank of Iraq agency, Ali Alaak, said during a meeting hosted by the House of Representatives, on Monday in response to a question on the causes of corruption of 12 billion dinars, "The damage was before taking office when the coffers of Rafidain Bank to sink because of heavy rains in 2012 And caused damage to banknotes after the arrival of water to the stores. " 
Al-Alaq explained that "the Central Bank is replacing currencies when exposed to any damage was also imposed a certain fine on the management of Rafidain Bank, which was reduced after considering what was spent and fate, especially that these securities outside the age of time. 
He pointed out that "the central bank lost the cost of printing banknotes and it does not represent much, knowing that the amount was up to 7 billion dinars and a value much less than that and we regret an international certificate of cash management."
And postponed the House of Representatives held its meeting and the completion of hosting the Governor of the Central Bank in a meeting on Tuesday of next week



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dinar - Iraqi economy defy central bank governor to prove an order Empty Director of Rafidain Bank reveals the reasons for the damage of the seven billion

Post by rocky on Tue 13 Nov 2018, 3:37 pm

[rtl]

Director of Rafidain Bank reveals the reasons for the damage of the seven billion

[/rtl]
[rtl]Release date: 2018/11/13 22:16 • 214 times read[/rtl]
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(Baghdad: Al-Furat News) Revealed the director of Rafidain Bank, Khawla Asadi, the reasons for the damage of 7 billion dinars from the bank account.
Al-Asadi said in a press statement that "the erosion of Al-Rasheed Street brought rainwater into the bank's treasury and the water flowed to it, which was empty and the currency was old and can not be pumped into the market." 
She pointed out that "the damaged currency had to be delivered to the Central Bank," noting that "the average age of cash does not exceed the year, which is damaged is old and obsolete, even if it remained more than 48 hours to be not," noting that "of the currency is the damaged category thousand dinars." 
"The currency that was flooded by the rainwater was not negotiable," she said.

Al-Alaq explained that "the Central Bank is replacing currencies when exposed to any damage was also imposed a certain fine on the management of Rafidain Bank, which was reduced after considering what was spent and fate, especially that these securities outside the age of time. 
He pointed out that "the central bank lost the cost of printing banknotes and it does not represent much, knowing that the amount was up to 7 billion dinars and a value much less than that and we regret an international certificate of cash management." 
And postponed the House of Representatives held its meeting and the completion of hosting the Governor of the Central Bank in a meeting on Tuesday of next week



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dinar - Iraqi economy defy central bank governor to prove an order Empty Governor of the Central Bank announced the destruction of 7 billion dinars because of the rains!

Post by rocky on Wed 14 Nov 2018, 2:17 am

Governor of the Central Bank announced the destruction of 7 billion dinars because of the rains!

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Ali Alalak




Wednesday, 14 November 2018
The governor of the Central Bank [url=https://www.thebaghdadpost.com/ar/Story/t/1339/%D8%B9%D9%84%D9%8A %D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82]Ali al-Alaq[/url] during his attendance at the session of the House of Representatives, Monday, which was broadcast by the Information Service of the House of Representatives, about damage to about 7 billion dinars of banknotes because of the rains last week. 

Al-Allaq, who runs the Iraqi Central Agency acting since his appointment under the government of former Prime Minister Nuri al-Maliki, said that the rains destroyed about seven billion dinars were stored in one of the branches of the Rafidain government. 

Baghdad has seen recent heavy rains flooded many of the streets, but Rafidain Bank did not announce the exposure of his money to the drowning, which raised doubts about the statements of the relationship. 

He continued that the Iraqi Central Bank will replace these papers, at the request of Rafidain Bank, noting that the bank maintains documents to prove the authenticity of the currency that was damaged.

Al-Alaq explained that the Central Bank, in accordance with its instructions and regulations, has the right to replace currencies when they are damaged due to various accidents such as drowning, burning or anything else. 

The reports of the previous parliamentary estimate of the size of the losses of Rafidain Bank because of rainfall, about 10 billion dinars, but Alak denied those estimates, stressing that the amount estimated at 7 billion dinars, which included various categories of the Iraqi currency. 

Al-Alaq pointed out that the losses do not actually mean seven billion dinars, but losses include only the value of printing the paper, which starts from 2 to 4 cents. 

It is noteworthy that the printing of the name [url=https://www.thebaghdadpost.com/ar/Story/t/1339/%D8%B9%D9%84%D9%8A %D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82]Ali Aliak[/url] on the banknotes of the category of 1000 dinars, was a fuss among the observers, acting as a proxy, nor has any of the former Governors of the Central Bank of Iraq, printing their names and were just signing the currency to confirm the issuance of this document cash.

In the same context, a member of the Iraqi Council of Representatives Ahmad Hama Rasheed, in a press statement, on Tuesday, the request of the House of Representatives of [url=https://www.thebaghdadpost.com/ar/Story/t/1339/%D8%B9%D9%84%D9%8A %D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82]Ali al-Alaq to[/url] confirm what he said with documents and attribution, because the figure available to parliament is 12 billion dinars. 

Rachid said that the parliamentary finance committee demanded the transfer of the data to be checked and to verify the validity of his statements about the damage of these funds because of rainwater. He pointed out that there is another confrontation with [url=https://www.thebaghdadpost.com/ar/Story/t/1486/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A]the central bank[/url]governor and agency at the next parliamentary session on the credibility of the figure that he explained. 

Al-Aalak pointed out that [url=https://www.thebaghdadpost.com/ar/Story/t/1486/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A]the Central Bank[/url] received [url=https://www.thebaghdadpost.com/ar/Story/t/1486/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A]the[/url] damaged banknotes and compensated them for a fine that was reduced because it is a government bank. The incident falls within what he called "fate and destiny."
a S

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