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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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Established in 2006 as a Community of Reality

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    Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units

    Rocky
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    Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units Empty Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units

    Post by Rocky Thu 16 May 2024, 4:43 am

    Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units
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    Baghdad today - Baghdad
    The head of the Federal Integrity Commission, Judge Haider Hanoun, announced today, Thursday (May 16, 2024), Iraq’s participation in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units.
    The commission’s media stated in a statement received by “Baghdad Today” that “The head of the Federal Integrity Commission, Judge Haider Hanoun, confirmed that the measures taken by the Integrity Commission and the Iraqi government in the field of combating corruption in the year 2023 resulted in growth in the economy, as Iraq recorded an increase in the gross domestic product.” Total".
    He added, "In the balance of the money supply until the end of last year, Iraq advanced three places according to the GDP data for each country issued by the International Monetary Fund to come in position (49)."
    Hanoun pointed out during the working paper he presented at the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units held in the Kingdom of Saudi Arabia and tagged (Combat Corruption and Its Necessity for Achieving Economic Growth), that “the final statement of the International Monetary Fund experts issued on the third of last March resulted in the continuation of Economic growth in Iraq, an increase in non-oil revenues, a decline in overall inflation, a decrease in food prices, the implementation of new controls to combat money laundering, and the private sector’s access to foreign currency at official rates for the purposes of import and travel.”  
    The head of the authority warned of “the economic effects caused by corruption at the local and international levels,” reviewing “some of these effects, such as reducing investment rates as investors flee from an environment in which corruption is widespread, due to their being forced to pay bribes, and its cause of the exacerbation and deficit of the general budget through tax evasion.” Or attempt to obtain illegal tax exemptions.”
    Hanoun added, "Among these effects are the increased cost and operation of projects, the weak efficiency and quality of public facilities, distortion of markets and misallocation of resources by reducing the government's ability to impose oversight and inspection systems, and the government's loss of supervisory control over banks, internal trade, and financial markets."
    He pointed out that “corruption leads to an increase in poverty rates, poor distribution of income, and the enrichment of the few at the expense of the many, which leads to the creation of a state of discrimination, class, and injustice among members of society, in addition to causing inflation by increasing the cost of business, as a result of the bribes and commissions paid by companies.” “This forces the consumer to pay a higher price for the commodity than its actual cost.”
    The Chairman of the Authority noted “the necessary measures to combat corruption and achieve economic growth through two important measures: providing the protective environment and developing the institutional environment,” pointing out that “providing the protective environment requires taking several measures and policies, the most important of which is: reducing monopoly of any kind.” Types of economic activities, facilitating government procedures, providing internal and external auditing bodies and supporting them with the powers and information that enable them to continuously follow up on the institutions’ accounts.”
    He continued, "The second part of the necessary measures to combat corruption and achieve economic growth is to develop the institutional environment, through the presence of an independent judicial apparatus, the provision of a legislative institution that represents the people, legislates laws and holds the executive authority accountable, and relies on the principles of efficiency and integrity in employing public employees, and attention to improving... Salaries and wages are supported by guarantees and incentives, and an independent auditing body is provided.”
    The forum, in which (75) speakers from (25) countries and (12) organizations participate, as well as (600) experts from financial investigation units, anti-corruption bodies, government agencies, international organizations, and financial and academic institutions, aims to chart a clear path for cooperation between bodies. Governmental institutions in the Kingdom of Saudi Arabia, counterpart organizations, and regional and international bodies, and constitutes a strategic opportunity to unify efforts among various institutions. In order to confront the challenges of combating financial crimes, and a platform for presenting and launching practical initiatives with tangible results, while focusing on building capabilities and enhancing cooperation between the relevant authorities working to combat financial crimes, money laundering, and terrorist financing in the Middle East and North Africa region.
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