[size=30]KTFA Members "News and Views" Friday PM 4-16-2021[/size]
KTFA:Ryan1216: Afternoon all. I understand everyone's frustration. Iraq has given us the same song and dance for years now. Although so much has been accomplished up to this point. Basically everything but the rate being released. It's really time for them to present the new rate so we all can move on. I'm so ready for this investment to end. Ramadan has always been slow along with much hype of a gift to the people (new rate) but hopefully this time the CBI comes through for us. I want this as much as anyone else. Any day now we'll see the budget posted in the Gazette and that'll tell us all we need to know. Let's just breathe and relax and see how this all plays out. All IMO
DeepWoodz: Just a repeat here but..... ask yourself,
Why would they be holding up the disclosure of what’s in the budget? If it’s what they claim, you know, another year at least of the same rate then why the secrecy? The secret should match what they are yelling from the rooftops!!!
But they haven’t disclosed it, one guy even leaked the rate is higher than neighboring countries and some others around the world!
You know it makes sense that they WOULD keep it a secret as they are trying desperately to get rid of as many 000’s as possible! That’s only being fiscally responsible!
Samson: Finding more than a million dollars and gold bars in the rubble of the ancient region of Nineveh
13:15 - 04/16/2021
On Friday, the Nineveh Investigation Court announced that it had seized large sums of money and valuable assets that were seized under the rubble of a house in Al-Shahwani area in Mosul for the purpose of handing them over to the Central Bank.
The Media Center of the Supreme Judicial Council stated in a statement received by the information, that “the court announced the discovery of an amount of one million six hundred thousand US dollars, gold and silver coins, bullion, and gold collectibles in the old“ Al-Shahwani ”area, while one of the excavators was removing the ruins of the old area’s role.
The statement added that "the aforementioned funds and materials were hidden in plastic barrels and nylon bags and were buried about three meters deep under the ground." It is likely that "these funds were used by ISIS gangs to finance their terrorist operations during their retreat to the right side of the Old City."
He emphasized that "the judge of the Nineveh Investigation Court decided to seize the seizures in preparation for handing them over to the Central Bank." LINK
*************
Don961: Conscious / Saleh: The Central Bank is working to stabilize the purchasing power of the Iraqi dinar
April 15, 2021 Conscious / Baghdad / h. G
The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed today, Thursday, the efforts of the Central Bank to work to stabilize the purchasing power of the Iraqi dinar.
Saleh said in a statement followed by (the Iraqi Media News Agency / INA) that “the central bank is working to meet the desired demand of foreign currency by market forces through the window of monetary policy operations or the so-called auction for the purposes of financing foreign trade for the private sector as well as providing a safe level of Cash dollar ”.
He pointed out, "The central bank pushed towards the fixed exchange rate with clarity, transparency and ability, with the supply tools in order to lead to stability in price levels, stability of price expectations, a higher degree of certainty in looking at the levels of price stability and reduced transaction risks for market makers and dealers in it."
He explained that "the monetary policy of the Central Bank seeks to achieve its goals and achieve its objectives under its law in force and its quantitative and price tools aimed at stabilizing the purchasing power of the dinar." LINK
************
Don961: Parties and militias put Iraq on Europe's list of high risk countries in money laundering crimes
13 Hours Elapsed Researcher Shatha Khalil *
The inclusion of Iraq by the European Union in May 2020 in the list of high-risk countries for money laundering and terrorist financing came as the warnings of the European Union ambassador in Baghdad, Martin Hutt, about the seriousness of the situation, confirmed that there are foreign powers that are using Iraq as a battlefield by the proxy to implement their agendas. Regionalism, which increases internal and regional instability, and everyone should realize that a weak and unstable Iraq can only end up in failure with disastrous repercussions in the region and beyond.
While the government of Mustafa Al-Kazemi is struggling to ensure that the salaries of employees, retirees, and beneficiaries of the social protection network continue to be paid, after the sharp decline in public treasury revenues due to the decline in oil prices under pressure with the outbreak of the Corona virus, those efforts received great disappointment after the re-inclusion of Iraq by the European Union in May 2020 is on the list of high-risk countries for money laundering and terrorist financing, along with North Korea, Iran, Afghanistan, Syria and Yemen, which has had catastrophic economic and financial repercussions on Iraq.
After the American invasion of Iraq in 2003, Iraq became a fertile ground for the emergence of money laundering networks that benefited from the repercussions of the radical change of the political system and the accompanying political, economic and security chaos fueled by feverish competition between political factions and representatives of ethnic and sectarian components for their possession of the largest possible amount of power and influence, which facilitates Exploiting state resources and collecting money that found its way abroad through organized and politically covered money laundering operations, and this was the main reason behind the disruption of control mechanisms over the movement of money and trade with other countries in light of the state of comprehensive openness to the global economy, despite the creation of many Regulatory bodies, such as the Federal Integrity Commission (CoI), offices of inspectors general in government ministries, agencies and institutions, as well as the Federal Office of Financial Supervision (FBSA), the Economic Crimes Directorate in the Ministry of Interior and the Economic Security Department of the National Security Agency, all of theseThe bodies were unable to combat this phenomenon due to political interference that used insecurity and sectarian warfare as a cover and a pretext to evade more.
More than a decade of pressure exerted by the World Bank and global financial institutions that have repeatedly threatened to put Iraq on the blacklist if it does not enact an anti-money laundering law, which did not happen until 2015 when the House of Representatives passed Law No. 39 on combating money laundering and terrorist financing Which provides for the establishment of the Anti-Money Laundering and Combating Terrorism Financing Council, which grants broad powers, as well as the formation of an office within the Central Bank of Iraq (CBI) called the Anti-Money Laundering and Combating Terrorism Financing Office.
The first report of the "Basel" index for combating money laundering (AML) for the year 2012 placed Iraq in the sixth place among the worst countries in the field of combating money laundering. This was called by the European Union in July 2016 to place Iraq on the list of countries that do not apply international standards, while the The European Union - in a goodwill gesture, by removing Iraq from its blacklist in 2018 despite its ranking first in the Basel Anti-Money Laundering Index report for 2017 as the most dangerous country in this field, yet the Iraqi government failed to take advantage of that, and lost an opportunity To improve the country's image by taking steps towards assuaging the concerns of its international partners.
Since 2003, Iraq has been included in a horrific corruption list that includes all the joints of the country, and the sources of money laundering are divided into the following:
ý Investment budgets: were allocated by successive Iraqi governments after 2003, and their estimates range between 300 to 500 billion US dollars, for the purpose of rehabilitating infrastructure and developing public facilities. They were a major source of profit for the ruling parties by allocating corrupt contracts and tenders to shell companies or Ineligible or ineffective in return for huge commissions believed to be not less than a fifth of the value of each contract, and these contracts were often executed in a non-conforming manner, or their delivery periods were extended for additional years under the pretext of insecurity.
ý Oil smuggling:In addition to the survival of the southern oil export platforms without meters until the end of 2017 and the use of the ullage method to measure the volume of oil tanker cargoes that were costing Iraq thousands of barrels of oil per shipment per centimeter not calculated, and the oil pipelines extending between fields and ports continue, Which operates to this day without meters, including at the level of oil fields, secondary pumping stations and refineries, and to be the preferred target for stealing crude oil and its derivatives. These practices are estimated at between 100 thousand and 250 thousand barrels per day of Iraqi oil production, in addition to Other aspects of administrative corruption in calculating the quantities of oil entering and leaving the refineries, in the central and northern regions, the oil fields and oil smuggling networks that were financing ISIS after the fall of the city of Mosul in mid-2014 are still operating as usual, albeit in favor of the Shiites loyal to Iran, so the militias are in cooperation with The Kurdish parties themselves are also active in oil smuggling Producer in the Kurdistan region, this leads to the accumulation of huge funds that must be laundered in order to facilitate their integration into the global financial system.
ý Drug trafficking and smuggling and arms trade: Before 2003, Iraq was free from this poisonous trade, and the laws of the state became as far as possible, as it was one of the cleanest countries in the region for this scourge; After this date, the consumption of local drugs became one of the most profitable and fastest growing businesses due to the involvement of Shiite militias and armed clans in them, especially in Basra Governorate, which is witnessing a fierce conflict around it. The monopoly of their smuggling routes from Iran to Iraq, which often manifests itself in armed clan conflicts.
ý The problem of out-of-control border crossings, until the beginning of July 2020, the land, sea and air border crossings remained completely outside the authority of the state due to the control of outlaw forces and militias over them, not to mention the Kurdistan crossings, the area whose government has refused since 2003 to enable the federal government to supervise According to the constitution, this costs the public treasury estimated losses between 5 and 10 billion dollars annually as a result of customs evasion and organized smuggling that is practiced there.
Reflection of the decision on the Iraqi economy:
Following the European Commission’s decision, Iraqi Foreign Minister Fuad Hussein issued a statement expressing his surprise at the inclusion of Iraq on the list of countries with high risks in money laundering and terrorist financing. He recalled the measures taken by Iraq during the past two years, as Iraq is deemed to have met all the conditions for being removed from the blacklist. However, the state of denial revealed by the minister's statement reveals a number of indicators, the most important of which are the following:
ý Money laundering has become entrenched in the structure of the political system as one of the manifestations of financial corruption that placed Iraq at the top of the list of the most corrupt countries in the world.
Money laundering has strategic importance with regard to Iran's plans to secure financial support for its allies and proxies in Syria, Lebanon, Yemen and Bahrain, by taking advantage of the uncertain Iraq situation from the perspective of the American administration, which does not seem to be in the process of a complete division with Baghdad until the elements of the Iraqi rejecting interior have matured. For Iranian hegemony over the country.
ý Because everyone has been involved in laundering operations, whether they are supportive of his government, neutral or not.
ý The absence and backwardness of the tax system and banking systems in Iraq, which made it difficult to keep pace with the movement of funds, verify their owners and settle their tax status, and the lack of clear controls for banks and exchange offices that are selected to participate in the hard currency auction, especially those that do not provide actual banking services and whose records are It is fraught with irregularities, and the failure of regulatory and judicial institutions to track down people whose Central Bank of Iraq data reveal that they have transferred billions of dollars with forged import permits.
ý The lack of legal cover to follow up on people who show manifestations of wealth that are not commensurate with the jobs and businesses they do, or are not commensurate with the prices of the services and goods they sell, especially if they are below the cost price or do not even cover transportation costs, such as fruits and vegetables imported from Iran As happened in June 2020 when Iraq imported $ 70 million worth of Iranian tomatoes, even when Iraqi farmers in the Kurdistan region threw their produce on the streets because there was no one to buy them.
More importantly, the great influence that the loyalist factions and their backers Hezbollah play within government institutions, which makes it difficult to stop the money laundering operations carried out in Iraq and linked to various illegal activities, from the smuggling of oil, drugs and weapons to kidnappings and the imposition of fees on businessmen and investors, in particular. In the Sunni provinces.
In July 2020, Iraq announced a political and diplomatic campaign with European countries to remove its name from its list of high-risk countries that witness money laundering and terrorist financing operations, as this poses a risk to the Iraqi economy and foreign investments on its soil, as the implications of this listing impose further restrictions on transfers Finance from and to Iraq, as it gives a sign of distrust by global financial institutions, including the ten banks called mothers, which control the capital in the world, and which will put Iraq in front of serious financial sanctions, which make it difficult for Iraqi and European investors to work in the country that is already suffering. From a stifling financial crisis. It will have a harmful economic and social impact on cooperation with European countries and on the credit situation and foreign investment in the country.
Everyone's interest is for everyone to contribute to the establishment of a prosperous, internally and externally stable, strong and sovereign Iraqi state as a basic condition for the stability of the region.
Economic Studies Unit, Rawabet
Center for Research and Strategic Studies LINK
************
Samson: Turkey Bans The Use Of Cryptocurrencies
16th April, 2021
The Turkish Central Bank has banned the use of currencies and crypto assets in the purchase of goods and services, pointing to potential "irreparable" damages and great risks in those dealings.
Turkey's central bank said on Friday that cryptocurrencies and other digital assets based on distributed ledger technology could not be used, directly or indirectly, as a payment tool. The bank added: "Payment service providers will not be able to develop business models in a way in which encrypted assets are used, directly or indirectly, in providing payment services and issuing electronic funds, and they will not be able to provide any services related to these business models."
A growing boom in the cryptocurrency market in Turkey has gained more momentum recently, as investors hope to profit from bitcoin rally and hedge against inflation. The weakness of the Turkish lira and inflationary pressures also drove the demand for the cryptocurrency.
In a statement explaining the reason behind the ban, the Turkish bank said that these assets "are not subject to any regulatory mechanisms or supervision nor to a central regulatory authority."
Last week, Turkish authorities requested user-related information from trading platforms. Annual inflation in Turkey rose to more than 16 percent in March. The new legislation takes effect on April 30. Bitcoin was down 2.59 percent to $ 61,757 by 05:57 GMT. LINK
Today at 7:04 am by Rocky
» utube MM&C 4/16/24 IQD Update - Iraq Dinar - America - Activate - Massive Economic Deals -
Today at 7:02 am by Rocky
» utube MM&c 4/19/24 Iraqi Dinar - Private Sector - Economic Stability - Financial Reform - Al Sudan
Today at 7:01 am by Rocky
» Iraq officially signs the “Singapore” agreement to resolve trade disputes
Today at 6:59 am by Rocky
» Parliament Finance advises raising exchange rates again... What about oil revenues?
Today at 6:55 am by Rocky
» Al-Sudani: Iraq is in the process of recovery and has taken its leading position that attracts work
Today at 6:54 am by Rocky
» Al-Araji: Iraq is prepared to deal with all circumstances and seeks partnership with the United Stat
Today at 6:52 am by Rocky
» Sudanese from Michigan: The government represents all components and is keen to take care of the aff
Today at 6:50 am by Rocky
» Democratic Party: The "new generation" is the most corrupt and has dozens of cases in court
Today at 6:47 am by Rocky
» What is the benefit of Iraq establishing a petrochemical plant in Egypt?!.. An oil expert explains
Today at 6:46 am by Rocky
» A judicial delegation participates in the Permanent International Forum for Commercial Courts in Qat
Today at 6:43 am by Rocky
» Al-Sudani: The government follows a balanced policy that makes Iraq a station for security
Today at 6:42 am by Rocky
» Deduction of 160 million dinars from the salaries of MPs absent from Parliament sessions
Today at 6:40 am by Rocky
» Central Bank: Washington praised Iraq's measures to resolve 80% of the financial transfer file
Today at 5:13 am by Rocky
» Voices of Resilience: Al-Sudani’s frankness embarrasses the White House
Today at 5:12 am by Rocky
» Al-Alaq confirms the formation of a committee between Baghdad and Washington regarding sanctions on
Today at 5:10 am by Rocky
» Former MP: The Democrat will not hand over power after the regional elections
Today at 5:07 am by Rocky
» Document/allocation of 20% of the lands of Al-Jawahiri Complex to employees of the Ministry of Defen
Today at 5:06 am by Rocky
» Al-Hakim: Al-Sudani’s visit to Washington was a protocol and missed the two most important files
Today at 5:05 am by Rocky
» Parliamentary Security: The National Security Service law will be voted on by Parliament soon
Today at 5:04 am by Rocky
» Reconstruction and Housing: Zarbatieh residential project completed by 82%
Today at 5:01 am by Rocky
» Al-Sudani reveals an intention to establish Al-Faw refinery with a capacity of 300 thousand barrels
Today at 5:00 am by Rocky
» Government readiness to move the Doura refinery to an alternative location.. What are the conditions
Today at 4:59 am by Rocky
» Al-Sudani’s visit to Washington.. Implications and results
Today at 4:56 am by Rocky
» Association of Iraqi Private Banks: The suspension of some electronic payment services yesterday was
Today at 4:55 am by Rocky
» Parliamentary memorandum.. Two solutions were before the Federal Court instead of removing the compo
Today at 4:53 am by Rocky
» Blue fuel... Iraqi steps towards inexhaustible wealth for a century
Today at 4:51 am by Rocky
» For fear of being "upset"... MPs "evade" signing to host Al-Sudani in Parliament
Today at 4:50 am by Rocky
» Al-Sudani’s statement to convert 40% of Iraq’s exports into derivatives.. What does it have to do wi
Today at 4:48 am by Rocky
» An Iraqi-American partnership to benefit from oil field gas
Today at 4:46 am by Rocky
» The Minister of Commerce announces the distribution of the first payments of farmers’ dues for the 2
Today at 4:45 am by Rocky
» Sudanese to members of the Iraqi community in the American city of Houston: Iraq has regained its he
Today at 4:43 am by Rocky
» Romanski announces loans worth $50 million to support the Iraqi private sector
Today at 4:42 am by Rocky
» Prime Minister: We plan to invest production capacities for export
Today at 4:41 am by Rocky
» “Something happened” in Iran and no one is talking about Iraq and Syria. This is what we have so far
Today at 4:38 am by Rocky
» Al-Sudani asks the American Baker Institute for assistance in preparing studies related to the oil m
Today at 4:36 am by Rocky
» The Interior Ministry denies the occurrence of explosions inside Iraqi territory and diagnoses “the
Today at 4:35 am by Rocky
» Tensions between Najaf and Baghdad over the airport... the rule of law over “military force” and the
Today at 4:34 am by Rocky
» Al-Sudani from Washington: We agreed with Abu Dhabi on joint management of Al-Faw Port
Today at 4:33 am by Rocky
» "Al-Party" talks about the region's elections and reveals the reason for refusing to pay salaries di
Today at 4:31 am by Rocky
» Russia's oil is taking more of the Middle East's shares in the Indian market.. How much has Iraq los
Today at 4:29 am by Rocky
» Early next month.. Traffic confirms that the electronic payment system is working only
Today at 4:27 am by Rocky
» The Service Council accuses state departments of refraining from disbursing bonuses because of the m
Today at 4:25 am by Rocky
» Electricity: The Baghdad street lighting campaign will be completed before the middle of this year
Today at 4:24 am by Rocky
» Oil poses two conditions for moving the Doura refinery to an alternative location
Today at 4:23 am by Rocky
» The Foreign Minister reveals the truth about his resignation and the reason for his departure to Erb
Today at 4:22 am by Rocky
» Progress: Al-Halbousi’s acquittal has become conclusive, and his return to the presidency of Parliam
Today at 4:20 am by Rocky
» Disagreements strike Al-Maliki's coalition over choosing the governor of Diyala
Today at 4:19 am by Rocky
» The Union accuses Türkiye of exploiting the political situation for a ground incursion into Iraq
Today at 4:18 am by Rocky
» The Democratic Party: Barzani is eagerly awaiting the results of Al-Sudani’s visit to Washington
Today at 4:17 am by Rocky
» Frame: Al-Halbousi in the news and his return has become a pipe dream
Today at 4:16 am by Rocky
» A parliamentary request to capitalize on Erdogan’s visit to Baghdad to end the water crisis
Today at 4:15 am by Rocky
» Al-Sudani urges the US corporation Honeywell to help finish the Basra refinery
Yesterday at 2:48 pm by Rocky
» Al-Sudani Meets with Representatives of Western Media Outlets in Washington
Yesterday at 2:46 pm by Rocky
» Chairman of the Investment Authority signs the United Nations Convention on International Mediation
Yesterday at 2:44 pm by Rocky
» PM: We will sign a contract to establish the Al-Faw refinery with a Chinese company
Yesterday at 2:42 pm by Rocky
» PM arrives in Houston as part of his visit to USA
Yesterday at 2:41 pm by Rocky
» Militia Man & Crew 4/18/24 Bush signed it and all presidents implemented it. Iraq’s funds have been
Yesterday at 1:46 pm by Rocky
» Iraq is close to launching the electronic signature
Yesterday at 7:12 am by Rocky
» The Basra government discusses with an international oil company the implementation of social benefi
Yesterday at 7:11 am by Rocky
» The Prime Minister confirms to an American company: Gas projects in Iraq are a priority for the gove
Yesterday at 7:10 am by Rocky
» The Minister of Planning discusses with the World Bank mechanisms for scheduling external loans
Yesterday at 7:09 am by Rocky
» Oil sets the twenty-seventh of this month as the date for opening contracts for the fifth complement
Yesterday at 7:08 am by Rocky
» “Electronic begging”...professionalism and fabrication of stories” generates millions of dinars dail
Yesterday at 7:05 am by Rocky
» Al-Sudani calls on the American company Hanwell to contribute to the completion of the Basra refiner
Yesterday at 7:03 am by Rocky
» An American company expresses its willingness to establish LED lighting production lines in Iraq
Yesterday at 7:02 am by Rocky
» Including Iraq.. Iran announces the possibility of exporting 300 megawatts of “renewable electricity
Yesterday at 7:01 am by Rocky
» Political forces present two options to find an alternative to Al-Halbousi
Yesterday at 6:58 am by Rocky
» Parliament is awaiting the arrival of the budget schedules and the government is studying higher spe
Yesterday at 6:56 am by Rocky
» The International Monetary Fund adjusts its expectations for the development of the world’s economie
Yesterday at 6:54 am by Rocky
» A representative talks about the difficulty of finalizing the file of “electing the Speaker of Parli
Yesterday at 6:50 am by Rocky
» Work on preparing a law for diplomatic passports
Yesterday at 6:49 am by Rocky
» A female representative accuses the Ministry of Immigration of corruption
Yesterday at 6:47 am by Rocky
» Minister: Solving the Kurdistan salaries problem is the beginning of addressing other disputes betwe
Yesterday at 6:45 am by Rocky
» About 270 million dollars were sold by the Central Bank of Iraq in the currency auction
Yesterday at 6:42 am by Rocky
» The volume of trade exchange between Jordan and Iraq will exceed 800 million dinars in 2023
Yesterday at 6:41 am by Rocky
» Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an
Yesterday at 5:31 am by Rocky
» The American company that manufactures the F16 expresses its readiness to implement the terms of con
Yesterday at 5:30 am by Rocky
» The volume of expected Qatari investments for the Iraq Fund for Development exceeds $3.5 billion
Yesterday at 5:29 am by Rocky
» Decrease in dollar prices in Baghdad and Erbil
Yesterday at 5:27 am by Rocky
» The President of the Region brings together the Kurdish parties to resolve the election file
Yesterday at 5:26 am by Rocky
» Al-Sudani receives in Washington the Chairman of JPMorgan
Yesterday at 5:25 am by Rocky
» Transport is starting to transform its ports into smart ones
Yesterday at 5:23 am by Rocky
» Sudanese reveals the volume of exchange with America
Yesterday at 5:22 am by Rocky
» "Al-Eqtisad News" publishes the memorandums of understanding signed between the Iraqi delegation and
Yesterday at 5:21 am by Rocky
» Al-Sudani urges an American company to contribute to establishing a chemical materials factory
Yesterday at 5:20 am by Rocky
» Iraq stresses the importance of Lockheed Martin's commitment to opening military aircraft maintenanc
Yesterday at 5:19 am by Rocky
» Iraq is on the verge of a “water disaster” by 2035
Yesterday at 5:18 am by Rocky
» Great satisfaction and optimism with the results of Sudanese’s visit to Washington
Yesterday at 5:16 am by Rocky
» Transport is beginning to adopt a plan to transform its ports into smart ones
Yesterday at 5:15 am by Rocky
» Completed 8,000 loan transactions at the Housing Bank
Yesterday at 5:14 am by Rocky
» Prime Minister: We plan to invest production capacities for export
Yesterday at 5:12 am by Rocky
» Transformation and partnership...a new horizon in Iraqi-American relations
Yesterday at 5:10 am by Rocky
» What is new in the economic dimension of the Washington visit?
Yesterday at 5:09 am by Rocky
» Two letters to the future
Yesterday at 5:08 am by Rocky
» National interests first
Yesterday at 5:06 am by Rocky
» Iraqi-American rapprochement...a national necessity
Yesterday at 5:05 am by Rocky
» Al-Sudani’s visit to Washington and the course of Iraqi-American relations
Yesterday at 5:04 am by Rocky
» Sudanese carries security, economic and development files to Washington
Yesterday at 5:03 am by Rocky