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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

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    The Office of Financial Supervision announces a package of measures towards the Kurdistan Region

    rocky
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    The Office of Financial Supervision announces a package of measures towards the Kurdistan Region Empty The Office of Financial Supervision announces a package of measures towards the Kurdistan Region

    Post by rocky Mon 06 Feb 2023, 5:35 am

    The Office of Financial Supervision announces a package of measures towards the Kurdistan Region



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    2023-02-06 04:35
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    Shafaq News / The Federal Office of Financial Supervision announced, on Monday, that it had taken a package of new measures to implement the paragraphs of the Federal Supreme Court ruling related to the unconstitutionality of the oil and gas law in the Kurdistan Region.




    In a statement received by Shafaq News agency, the Bureau stated, "The Industrial Activity Audit Department has taken a set of measures, in order to implement the ruling of the Federal Supreme Court, number (59 / federal / 2012 and its units 110 / federal / 2019) on 2/15/2022."
    According to the statement, the department decided: "The oil and gas law in the Kurdistan Region No. (22) of 2007 is unconstitutional and repealed for violating the provisions of Articles (110, 11, 112, 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005."
    The Bureau obligated the Kurdistan Regional Government to “hand over all oil production from the oil fields in the region,” in addition to “following up on the invalidity of oil contracts concluded with foreign companies,” as well as obligating the regional government to “enable the Iraqi Ministry of Oil and the Federal Financial Supervision Bureau to Reviewing all oil contracts concluded with regard to the export and sale of oil and gas in order to audit them and determine the financial rights owed by the region as a result of them.

    The Federal Office of Financial Supervision indicated, in the statement, to "determine the Kurdistan Region's share of the general budget in a way that guarantees the delivery of the rights of the citizens of the region's governorates and not delay them."
    He explained that "these procedures were briefly referred to in the book of the Office of Financial Supervision, Department of Auditing Industrial Activity, No. (11/28/2600) on 1/30/2023 addressed to the Federal Supreme Court - Office of the Chief Court."



    The Bureau affirmed that it would continue to follow up on what was stated in the executive axis of the Ministerial Curriculum / October / 2022, as far as it relates to coordination between the federal government and the Kurdistan Regional Government, regarding files and decisions that concern the region, according to the detail referred to in the book, which lies in the following:
    1- Diwaniya Order No. (7017) on 3/30/2022, according to which a committee was formed to audit oil contracts concluded from the Kurdistan Region.
    2- Diwan letter No. (1/2/13100) on 6/14/2022 addressed to the General Secretariat of the Council of Ministers - Kurdistan Region Representative, for the purposes of enabling the Diwan to review the oil contracts concluded with the regional government.
    3- Diwan letter No. (1/1/15/15826) on 7/26/2022 addressed to the Ministry of Oil for the purpose of providing the Diwan with a list that includes oil contracts concluded by the Kurdistan Region, so that a work plan and audit program can be prepared in coordination with the aforementioned ministry.
    4- The Diwan’s letter No. (11/28/16935) on 8/11/2022 addressed to the Prime Minister’s Office, explaining in it the Ministry of Oil’s approach to forming a specialized committee in the Diwan to audit the oil contracts concluded from the region.
    5- The response of the Ministry of Oil / Legal Department, with its letters numbered (29767) and (22803) on 10/13 and 8/11/2022, to the Bureau’s letters numbered (19903) and (15826) on 9/13/2022 and 7/26/ 2021, respectively, indicating that the region refused to hand over any oil contracts or any data related to the subject.
    6- Diwan letter No. (21513) on 10/4/2022 addressed to each of (the General Secretariat of the Council of Ministers / representative of the Kurdistan Region, the Federal Supreme Court, the Ministry of Finance, the Ministry of Oil, the Office of Financial Supervision in the Kurdistan Region), including that this office Waiting for the preparation of the priorities and audit requirements to proceed with the task or provide the Bureau with a list of these contracts and copies of them so that it can prepare for the implementation of the decision of the Federal Supreme Court, with the presentation that the Bureau has not been provided with any priorities from any party regarding the subject, until the date of preparing this book.
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