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Newspapers are following the file of smuggled money and ways to improve the work of the stock market
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[rtl]Baghdad / NINA /- The newspapers issued in Baghdad today, Thursday, the thirteenth of July, followed the file of smuggled money and ways to recover it, and improve the work of the stock market..and other issues, including efforts to control the electricity crisis.
Regarding the smuggled money, Al-Sabah newspaper, which is published by the Iraqi Media Network, said: “It is not known precisely the amount of money that was looted and smuggled out of Iraq. The previous figure is much, and the difficulty of recovering it lies in the fact that it merged and melted in the form of investments in the economies and markets of neighboring countries, regional countries and the world.
And she referred to the statement of a member of the Parliamentary Finance Committee, Mustafa Al-Karawi: “Recovering the looted funds requires a great effort from the government, and it has two tracks, political from the Iraqi internal point of view, and the effort and the other track is diplomatic and needs to move the Iraqi Foreign Ministry regarding the file of funds in foreign banks, in addition to to go after the corrupt.
He added, "The government should activate a special law to hold accountable the corrupt, money smugglers from private companies, and corrupt officials."
For his part, the economic expert, Safwan Qusay, indicated, according to Al-Sabah, the difficulty of tracking the smuggled money outside Iraq.
But he said: “There is cooperation between the Iraqi government and international auditing companies through which this file can be moved,” noting that “with the existence of the money recovery law and the presence of 5% of the funds disclosed in favor of the companies.” , there will be greater cooperation in tracking the movement of funds, especially in countries The world with which Iraq has cooperation at the level of second relations, and other countries do not allow dirty money to be within their economies.
He pointed out that "Iraq can invest the smuggled money in those countries if there is difficulty in recovering it, and it can be turned into investments in those countries, especially since we have a real estate market that has grown in Turkey, Jordan, the Emirates, Lebanon and other regions in the world.
Al-Zawraa newspaper, which is published by the Iraqi Journalists Syndicate, followed the means of developing the capital market and listing new companies in the Iraq Stock Exchange.
In this regard, the newspaper referred to the call of the financial advisor to the Prime Minister, Mazhar Muhammad Salih, to amend the stock market law in Iraq after the technological developments that took place in the world.
The consultant said in an interview with Al-Zawraa: "There are two important issues. The first is the attempt to include unlisted joint-stock companies in the market, and there must be interaction, or a room must be created to deal with the shares of unlisted companies.This is called OTC, and we need it because there are unlisted companies." In the market, but the shares are dealt with, and this is very important, and it must be prepared to be included in the Iraqi market for securities.”
And he added: “The second issue we have is the Public Government Companies Law No. 22 of 1997, as amended, in which there is Article No. 35 and other articles that allow the public company to become a public joint-stock company. distributed among shareholders (the private sector).
And he pointed out that: “The time has come at the present time to transform a number of public companies, prepare them and reorganize them in a way that enables them to release their shares and ownership rights and apply Article 35.”
And Muhammad Salih stressed: “The maturity of the capital market is the mirror that reflects the real activity in the economy, and the weakness of the market means weak investment in the economy, and now the market is dominated by half of it banking companies, So the reorganization of the market and the inclusion of real industrial, agricultural or service production companies is important, as Iraq needs this atmosphere.As
for Al-Zaman newspaper, it followed the government's effort to control the electricity crisis.
In this regard, it quoted a spokesman for the Ministry of Oil, Assem Jihad: “The government, in cooperation with oil, took several steps, including reducing the prices of kerosene supplied to the owners of private generators, and thus increasing the equipment of citizens by the owners of generators to reduce the burden, especially with the rise in temperatures and compensation for electricity.” national if it is not equipped.
Jihad explained: "These measures were preceded by important steps by the government, which is the supply of unregistered generators, as the ministry made efforts in this regard, and called on the owners of generators to complete the data and they were equipped directly," noting: “The government supports contributions to saving energy for the citizens.”
The spokesman added: “The Ministry of Oil is working on supplying the Ministry of Electricity daily with millions of liters of crude oil, black oil, gasoline and national gas, in addition to equipping departments and factories in large quantities to compensate for the shortfall in this respect.” / End[/rtl]
Regarding the smuggled money, Al-Sabah newspaper, which is published by the Iraqi Media Network, said: “It is not known precisely the amount of money that was looted and smuggled out of Iraq. The previous figure is much, and the difficulty of recovering it lies in the fact that it merged and melted in the form of investments in the economies and markets of neighboring countries, regional countries and the world.
And she referred to the statement of a member of the Parliamentary Finance Committee, Mustafa Al-Karawi: “Recovering the looted funds requires a great effort from the government, and it has two tracks, political from the Iraqi internal point of view, and the effort and the other track is diplomatic and needs to move the Iraqi Foreign Ministry regarding the file of funds in foreign banks, in addition to to go after the corrupt.
He added, "The government should activate a special law to hold accountable the corrupt, money smugglers from private companies, and corrupt officials."
For his part, the economic expert, Safwan Qusay, indicated, according to Al-Sabah, the difficulty of tracking the smuggled money outside Iraq.
But he said: “There is cooperation between the Iraqi government and international auditing companies through which this file can be moved,” noting that “with the existence of the money recovery law and the presence of 5% of the funds disclosed in favor of the companies.” , there will be greater cooperation in tracking the movement of funds, especially in countries The world with which Iraq has cooperation at the level of second relations, and other countries do not allow dirty money to be within their economies.
He pointed out that "Iraq can invest the smuggled money in those countries if there is difficulty in recovering it, and it can be turned into investments in those countries, especially since we have a real estate market that has grown in Turkey, Jordan, the Emirates, Lebanon and other regions in the world.
Al-Zawraa newspaper, which is published by the Iraqi Journalists Syndicate, followed the means of developing the capital market and listing new companies in the Iraq Stock Exchange.
In this regard, the newspaper referred to the call of the financial advisor to the Prime Minister, Mazhar Muhammad Salih, to amend the stock market law in Iraq after the technological developments that took place in the world.
The consultant said in an interview with Al-Zawraa: "There are two important issues. The first is the attempt to include unlisted joint-stock companies in the market, and there must be interaction, or a room must be created to deal with the shares of unlisted companies.This is called OTC, and we need it because there are unlisted companies." In the market, but the shares are dealt with, and this is very important, and it must be prepared to be included in the Iraqi market for securities.”
And he added: “The second issue we have is the Public Government Companies Law No. 22 of 1997, as amended, in which there is Article No. 35 and other articles that allow the public company to become a public joint-stock company. distributed among shareholders (the private sector).
And he pointed out that: “The time has come at the present time to transform a number of public companies, prepare them and reorganize them in a way that enables them to release their shares and ownership rights and apply Article 35.”
And Muhammad Salih stressed: “The maturity of the capital market is the mirror that reflects the real activity in the economy, and the weakness of the market means weak investment in the economy, and now the market is dominated by half of it banking companies, So the reorganization of the market and the inclusion of real industrial, agricultural or service production companies is important, as Iraq needs this atmosphere.As
for Al-Zaman newspaper, it followed the government's effort to control the electricity crisis.
In this regard, it quoted a spokesman for the Ministry of Oil, Assem Jihad: “The government, in cooperation with oil, took several steps, including reducing the prices of kerosene supplied to the owners of private generators, and thus increasing the equipment of citizens by the owners of generators to reduce the burden, especially with the rise in temperatures and compensation for electricity.” national if it is not equipped.
Jihad explained: "These measures were preceded by important steps by the government, which is the supply of unregistered generators, as the ministry made efforts in this regard, and called on the owners of generators to complete the data and they were equipped directly," noting: “The government supports contributions to saving energy for the citizens.”
The spokesman added: “The Ministry of Oil is working on supplying the Ministry of Electricity daily with millions of liters of crude oil, black oil, gasoline and national gas, in addition to equipping departments and factories in large quantities to compensate for the shortfall in this respect.” / End[/rtl]
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