Supreme Judicial Council calls for lifting the immunity of deputies accused of corruption

[Butifldrm]

Government approval of the draft amnesty law of tax penalties

Economie

 Since 2017-12-17 at 16:19 (Baghdad time)

Baghdad - Mawazine News

The General Secretariat of the Council of Ministers announced on Sunday the Council's approval of the draft law amnesty from tax penalties.

"The Council of Ministers approved the draft amnesty law from the tax sanctions, which was reviewed by the Council of State and referred to the Council of Representatives on the basis of the provisions of Articles 61 / A / of Article I and 80 / item II of the Constitution," the Secretariat said in a statement read by Mawazine News. "He said.

The statement added that "the decision came in order to give the opportunity to the taxpayers to resolve their position and settle their crimes, and to resolve the tax crimes of the financial authority."

 

http://www.mawazin.net/موافقة-حكومية-على-مشروع-قانون-العفو-من-العقوبات-الضريبية

[Butifldrm]

A leader of the Supreme Council so covered Maliki on the scandal of the escape of terrorists from Abu Ghraib prison !!

17-12-2017 03:34 PM    

Readers

 

Baghdad News -

 

 

The leader of the Supreme Islamic Council, Jalal al-Din al-Saghir, that the former Prime Minister and Vice President Nuri al-Maliki, wanted to cover the scandal of the escape of terrorists from Abu Ghraib prison and made the crisis of the law of infrastructure. 

Al-Saghir said in a televised statement that 'Maliki used the election infrastructure law, in the first place, and the scandal of the escape of 1150 field commanders from terrorism and al Qaeda from Abu Ghraib prison in Baghdad.' 

"The operation of escape, if you see it on television, there will be no doubt that it is a process involving senior officials security decision," he said, pointing out that it was a 'pre-built operation, which could be avoided by encircling the region and return the fugitives to prison.

 

http://www.baghdadnews.info/index.php?page=article&id=29404

[Butifldrm]

The means of political corruption in Iraq

SECTION: ARTICLESDECEMBER 17, 2017 | 4:37 PM

The means of political corruption in Iraq

 

Asaad Abdullah

When we talk about the real calamity of Iraq, it can be diagnosed by the doctor, the farmer, the beggar and the professor, that corruption, which spread in all joints of the state, and became a state within a country that controls the fate of the country, and failed to reduce all of the governments, Corruption files are open to large leaders that have been neglected. Governments have not made any real effort to wage a war of corruption, only to launch slogans to numb the nation and to bid only.

Indeed, the political class would not have been corrupt for as long as it had been able to get out of the chair. Corruption has a great advantage over the political class, but it has protected and developed it for the duration of its rich days.

The system, formed after 2003, is based on an important principle, "bribes". The American occupation has been dedicated to making it accessible to all aspects of life. Corruption has provided corruption to the government sector and the private sector through the lines of communication between them. In return for government benefits, where bribes are paid to bypass governmental rules, regulations, instructions and procedures, to benefit from a corrupt corrupt group close to the political class.

We will talk here about some forms of political corruption in Iraq, which have been and still are today in light of the death of censorship and the rule of law:

• Some of the problems of political corruption in Iraq

First: Bribes stand out in the field of tenders and auctions in order to win a government offer at the expense of the technical aspects and specifications, who pays more wins government offers even if it is zero in terms of work and implementation, what is important to pay bribes, this system was supported by the parties of power!

Second: When the state sells land, bribes are paid to be less than their market price, in exchange for a suitable bribe and only for a corrupt class close to the political class, and everything that takes place under the umbrella of law and authority and with the knowledge of the arms of politicians.

Thirdly: the payment of bribes and certain percentages of figures in force to obtain foreign exchange at prices below market prices. This is a major calamity that is carried out without effective supervision. The beneficiary has the keys to censorship.

• Corruption through privatization

Privatization is a major door to corruption, as happened in many countries in the region that have implemented "bad reputation" privatization. The reliance on intermediaries to complete the work, most of which are close to the ruling parties, is a major door to corruption, The sale of the state to some state institutions creates great opportunities for corruption, according to the existence of a network organized and protected to subject everything to corruption and distribution of profits among adults, and this causes the loss of state funds and the growth of the monster of corruption.

Privatization requires an enforceable and protected law, a law-abiding authority with a conscious society, all of which do not exist, which makes privatization a gateway to great corruption. The weakness of the law and the persistence of corruption continue their gains.

• Government positions and political auction

After every electoral season, a market is active to sell important positions that generate money or give influence, which generates hidden income of huge bribes almost daily and continuously. In the corrupt state, each site has a price. According to the party competition on the sites and quotas of the cake, And the exchange of parties, and who comes to positions be aware that the position of the singer and the opportunity for wealth and compensation for what was spent for the gain of the post and then he must accept the demands of the party, which facilitated him.

The position becomes a chair to spread corruption, and be protected from any accountability or control because everything under the umbrella of the ruling parties.

• Call

This is a diagnosis of some of the sections of political corruption in Iraq, which has not been closed to this day, and is the most important pillars of the loss of the state, and the reason for the fragility of institutional construction in Iraq, we hope that the conscience of politicians and make the interest of the nation and the nation's preamble on its interests, and fear God and preserve the rights of the nation and the homeland .

 

http://www.albaghdadiyanews.com/?p=87028

[Butifldrm]

Deputy: Ministers and their entourage stole money to build entire cities

Date of release: 2017/12/18 9:47 • 487 times read

[Ayna-Baghdad] 
MP said a coalition of state law, high Nassif, there are ministers involved in corruption is very large and with large funds may exceed the possibility of a state, "she said.

"The money stolen by [the ministers] and their entourage can be used to rehabilitate entire cities and to fill the deficit in the financial budget," Naseef said in a statement issued by its media office today. 
And demanded "the Speaker of the House of Representatives Salim al-Jubouri not to allow the abolition of the supervisory role of the Council on the pretext of approaching the date of parliamentary elections," stressing that "the need to set the timing of interrogations within one week of the next legislative term." 
"The Council has a number of interrogations as well as other questioning on its way to submit to the Council, especially as the State is heading towards the strategy of combating financial and administrative corruption."
Naseef said: "The approaching elections should not be a cause of complacency in the fight against corruption and complacency with public money. All interrogations should be conducted according to the timing set by the speaker within one week of the next legislative term. The reason for the abolition of the supervisory role of the Council is an exclusive role in addition to the legislative role. "

 

http://www.alliraqnews.com/modules/news/article.php?storyid=69382

 

 

 

 

•  

[nannab]

I like this lady and I hope she has enough body guards and or army. Butifldrm. 

[new york kevin]

I want the Optima Tax Relief franchise over there.

[yota691]

Abadi will launch a political earthquake in the Green Zone

  Tuesday, December 19, 2017 at 12:02 PM (Views 552)

Abadi will launch a political earthquake in the Green Zone

 

Baghdad / Sky Press:

 Iraqi Prime Minister Haider al-Abadi will launch a political earthquake in the Green Zone in the coming days, an Iraqi politician said on Tuesday, indicating that senior government figures will be summoned to investigate corruption cases.

 

"Abadi has prepared a plan on a low level to fight the corrupt people in the country and start to provide them through the Judicial Committee, which is directly linked to the prime minister and accompanied by international investigators, who will summon up to 800 government, military and security officials," the politician, who asked not to be named, told Sky Press. And a former and current deputy to investigate the files of corruption it has done. "

 

"Abadi's decisions in these files will be an earthquake inside the Green Zone, and political squabbling at the same time.

[yota691]

Transparency International: Iraq returns to the list of the top ten in corruption

The political scene  Tuesday, December 19, 2017 at 11: 40 am (Views 154)

Transparency International: Iraq returns to the list of the top ten in corruption

Baghdad / Sky Press

A source at Transparency International and the subject of corruption, the suspension of Iraq's membership in the International Transparency Initiative in the Extractive Industries (oil and gas), and its return to the ranking of the top 10 most corrupt countries in the world, after he left the country.

The report issued recently by the initiative on Iraq, not to abide by 22 points and did not meet the criteria adopted at 15 points, because it did not provide detailed information on the quantities of production of oil exports and assets, in addition to the cost of production, according to the newspaper "Middle East."

Iraq was the permanent member of the Transparency Initiative Organization 2012, and considered the government of Nuri al-Maliki, at the time acceptance of Iraq's organization "historic event," because it "provides bridges of trust between the citizens and the authorities concerned to manage the most important resource in Iraq," Iraq is one of the largest oil in Member countries that are members of the Initiative.

[yota691]

Without a comment: After leaving it ... Iraq returns to the list of the top ten most corrupt countries in the world !!

19-12-2017 01:01 PM

Readers

 

Baghdad News -

 

 

He confirmed a competent source in the international standards of transparency and the issue of corruption, suspend Iraq 's membership in the International Transparency Initiative in the extractive industries (oil and gas), and the return Ranked in the list of the top ten countries most corrupt in the world, after leaving them, to rank 11. 

The report recently issued by the The initiative on Iraq, not by 22 points and did not meet the criteria adopted at 15 points, because it did not provide detailed information on the quantities of production of oil exports and assets, in addition to the cost of production, according to the newspaper 'Middle East'. 

Iraq was the permanent member of the Transparency Initiative 2012, and considered the government of Nuri al-Maliki, at the time acceptance of Iraq's organization 'historic event' because it 'provides bridges of confidence between the citizens and the authorities concerned with the management of the most important resource in Iraq', and Iraq is one of the largest oil in Member countries that are members of the Initiative.

[Butifldrm]

returning Iraq to the list of the most corrupt countries

 

 Twilight News    

 

 5 hours ago

 

 

Despite the talk about the fight against corruption adopted by Iraqi Prime Minister Haider al-Abbadi in recent days, Iraq's membership in the International Initiative for Transparency in Extractive Industries (oil and gas) was finally suspended, which means the return of the classification of Iraq in the list of the top ten most corrupt countries In the world, after graduating from it to rank 11, based on a source specialized in the standards of international transparency and the subject of corruption.

The report issued by the initiative on Iraq not to abide by 22 points and did not meet the criteria adopted at 15 points, because it did not provide detailed information on the quantities of oil production and exports of assets, in addition to the cost of production.

Iraq was the permanent member of the Transparency Initiative Organization 2012, and considered the government of Nuri al-Maliki at the time of Iraq's acceptance of the organization "a historic event," because it "provides bridges of trust between the citizens and the authorities concerned to manage the most important resource in Iraq," Iraq is one of the largest oil countries in the countries Members of the Initiative.

Despite the importance given by the previous government to Iraq's accession to the International Transparency Initiative (TI), the current government is "cool" about the suspension of membership weeks ago.

With the exception of statements made by the initiative's adviser, lawyer Mohammed al-Saadi, that the problem of the freeze is due to the "intensity of the standards adopted by the initiative", the Iraqi government or the Ministry of Oil concerned in the first instance did not issue any official statement.

In light of the government's clear silence on the issue of freezing, organizations and figures working in the field of transparency and integrity are active in criticizing the representatives of the initiative in Iraq and accusing them of failing to provide the international initiative with the necessary information to meet Iraq's specific standards.

A member of the Nahrain Foundation for Transparency and Integrity accuses Iraq-accredited members of the Iraq Initiative of failing to provide good information on extractive industries to avoid freezing Iraq's membership. "The reason for the freeze is the lack of transparency in reporting, Iraq announces the quantities produced clearly, and did not cooperate representatives of the government in this regard also. "

"The initiative was the only window that reflects transparency in dealing with the most important sector in the country, the extractive sector of oil and gas, "He said.

"The lack of transparency in oil or the freezing of the initiative means a decline in the level of transparency and integrity, so Iraq will return to the list of the ten most corrupt countries in the world."

 

Keywords: 

 

http://www.shafaaq.com/ar/Ar_NewsReader/51b9f472-fe00-4323-afd3-fd4fd2f417cd

[yota691]

Green zone will witness the coming days "political earthquake" and the reason !!

19-12-2017 02:00 PM

Readers

 

Baghdad News -

 

 

A political statement on Tuesday that Prime Minister Haider Abadi will trigger a political earthquake in the Green Zone in the coming days, indicating that senior names will be called in the government to investigate corruption cases. 

The politician said in a press statement that 'Abadi has prepared a plan on a low level to fight the corrupt people in the country and start to provide them through the Judicial Committee, which is directly linked to the Prime Minister and accompanied by international investigators, which will call about 800 government officials, military and security and a former deputy, Corruption done by '. 

"The decisions of Abadi in these files would be an earthquake inside the Green Zone, and political squabbling at the same time," said the politician, who asked not to be named.

[10 YEARS LATER]

ITS HAMMER TIME !!!!! ( we hope )

[235snack]

It will probably go like it does here in the US, all talk and no action, but what is funny is that the women in this country are helping Trump drain the swamp much faster than charges through the legal system to thin them out due to corruption.....go girls!

[10 YEARS LATER]

5 minutes ago, 235snack said:

It will probably go like it does here in the US, all talk and no action, but what is funny is that the women in this country are helping Trump drain the swamp much faster than charges through the legal system to thin them out due to corruption.....go girls!

 It does look like the gals have the political will and huevos, unlike most of the obstructionist males in Congress to get it done,doesn't it.

[bostonangler]

7 minutes ago, 235snack said:

It will probably go like it does here in the US, all talk and no action, but what is funny is that the women in this country are helping Trump drain the swamp much faster than charges through the legal system to thin them out due to corruption.....go girls!

 

Yup there are many going down for their stupidity... And many more to come.

 

B/A

[yota691]

 

Integrity calls for the enactment of laws that contribute to the fight against corruption and not to cover his crimes with amnesty

Localities

14:23

Last updated

The time now is 02:44 PM

135

Watch

 

 

BAGHDAD / Al-Ghad Press: 

On Wednesday, the House of Representatives called for the enactment of laws to combat corruption and not to include general amnesty. 

A statement of integrity received by Al-Ghad Press, a copy of it, that "in the belief of the Authority that the responsibility to fight corruption is a responsibility of solidarity contributed by all, and from the national and legal responsibility that requires them to take the necessary measures, to reduce the path of corruption and maintain public money and do any work contributes In combating or preventing corruption, the Commission renews its call to the House of Representatives to extend assistance to national regulatory bodies by enacting a set of anti-corruption legislation and laws in order to address the shortcomings of the current legal system. "

He added that "the Commission has proposed several draft laws that contribute to reducing the course of corruption and submitted to the concerned parties, and is awaiting ratification, especially the draft amendment of the amnesty law No. (64) for the year 2016 to make a legislative intervention modified the text of the item (10) of the law in order not to include corruption crimes under the provisions of the general amnesty law, draft amendment of the amended Criminal Procedure Law No. 23 of 1971, draft amendment of the amended Penal Code No. 111 of 1969 and the draft law on illicit graft , And the draft law amending the law of inclusion No. 31 of 2015, and the draft of a draft amendment to the discipline of state employees and public sector law No. 14 of 1991, amended, and the draft of the right of access to information law, and a package of other draft laws prepared by the Authority, which has repeatedly called for the need for approval. "

"The Integrity Commission renewed its call to the Council not to include corruption crimes under the provisions of the amnesty law," the statement said. 

She pointed out that "the inclusion of these crimes with pardon will generate the courage of the corrupt to repeat their excesses on public money, as well as the diagnosis of the absence of the general amnesty law of any wisdom or philosophy that legitimizes the involvement of corruption crimes, especially in the current circumstances of the country that is in dire need of synergy The efforts of his sons, in order to fight the corrupt, not release the perpetrators of corruption crimes and amnesty, in addition to what is generated by the inclusion of crimes of corruption amnesty of the overall negative impact on the reputation of Iraq in international forums.

He added that "the Commission expresses its concern about the inclusion of many of the crimes of corruption that investigated and referred to the law of amnesty law, as the judiciary is legally obliged to implement the law amnesty, which leads to the eradication of the efforts of the Commission in the investigation of crimes of corruption, Especially in connection with the so-called big corruption. Moreover, the law will also lead to the elimination of the Commission's efforts in the files of recovery and handing over the sentenced. The Commission is making strenuous efforts to convince other countries to extradite the wanted convicts. If they were extradited. "

"The Commission renews its call to the House of Representatives to expedite amending the amnesty law in order not to cover corruption crimes under its provisions, because the inclusion of these crimes by law is not in line with the anti-corruption calls launched by the Council. The law that contributes to the disruption of efforts to combat corruption and reduce the role of national regulatory bodies and hamper their work. "

[yota691]

A new term that runs through the Iraqi banks and earns "millions" within hours without paying one fils

20-12-2017 02:01 PM

Readers

 

Baghdad News -

 

 

Flying instruments in Iraq seemed to be a way for those who did not have the money to get several million dollars in a few hours. What is the pilot instrument? 

The so-called pilot instrument is a new Iraqi expression of correct, sound and internationally recognized banking. The pilot instrument in the language of banks is called the "certified instrument" in Iraq or the "bank check" in the Arab countries or the Bank Draft at the global level, ? If this treatment is correct, does it also occur in other countries or regions of the world? If it does not happen in other countries, why should it happen in Iraq? 

The answer is very brief, that this can not happen in any other country in the world other than Iraq and for two main reasons:

The first is the policy of wasting money in Iraq, which amounts to about 100 million dollars a day. This is a policy that will discharge the central bank's reserve within two years, when the Iraqi dinar will collapse and the Iraqi economy will collapse. 

The second reason is the policy of enabling theft of funds at a rate of five to six million dollars On the day of the auction, and this figure will be greatly multiplied as the difference between the selling price of the dollar by the bank and the price of the dollar in the market (parallel price), and the pilot is a means in which the person who does not have money from theft instead of theft People who own N Bumper money! How can that be?

The central bank sells between 100 million to 200 million dollars per day. If a person wants to buy, for example, 20 million dollars, he means that he needs to pay about 24 billion dinars at a dollar rate of 1250 dinars. The amount is difficult to bring in cash for the large size and difficulty of counting with the existence of other logistical difficulties, so this person to issue an instrument certified by the Rafidain Bank, for example, by (24) billion dinars, which takes this so called (pilot instrument) and handed it to the Central Bank and receive his acceptance ( (20) million dollars, and in turn convert the amount of (24) billion dinars from his account in Rafidain Bank to the bank account Based on the certified instrument (the pilot instrument) handed over to the central bank; this is the normal situation without circumvention or theft. In case of circumvention, the order is as follows:

The Rafidain Bank, for example, issue a certified instrument (a pilot) in the amount of (24) billion false liens without any amount in the account of the fraudulent person and the agreement between the director and some employees of Rafidain Bank and the fraudster, and gives this fraudster this instrument certified to the Central Bank takes The amount of (20) million dollars, and then spend this amount in the market every dollar at (1300) dinars at the price of the day, or by (26) billion, and then put (24) billion dinars in the Central Bank account in Rafidain Bank, (2) billion dinars within hours, if this person repeated this process every day it gets a profit of (50) ml Jun dollars in one month, so be robbery.

Serious financial mafias emerged after 2004 to get millions of dollars from the central bank's auction of so-called flying bonds. These mafias were made up of people who did not have the money to get illegal profits that could only be obtained for a few hours by colluding with banks to enter the currency auction. EAHAM has expressed its presence of commercial imports. 

A member of the Finance Committee in the House of Representatives Massoud Haider said in a press statement that 'there are some people collusion with some banks to deposit sukuk at these banks and he does not have any balance to participate in the auction currency, to buy the dollar and sell within a few hours, Between the central bank and the market in order to profit millions of dollars, 'noting that' then the central bank within 48 hours notice the bank to transfer the amounts of the instrument to be returned by this person before this period without being revealed as if the process is legal. '

"The issue of flying instruments is only in Iraq because the banking system is old," he said. "There are officials in state and private banks who are complicit with these people to get quick and illegal profits through the auction." 

"Many people have benefited from the loophole in the banking system in Iraq and have won millions and become rich," he said. "These people themselves are participating in the auction and profits, so the money they receive is haraam." 

Volatile instruments affect the stability of the currency

The former economist of the Central Bank Bassem Abdul Hadi said in a press statement that 'the daily speculation carried out by traders through volatile instruments affect the stability of the currency and the volume of foreign exchange reserves because the bank is covering the needs of Iraq from foreign trade, but these Speculators use these reserves for profit. '

"The volatile instruments often used by traders or banks to buy foreign currency through the deposit of funds for a limited period in the account and then are withdrawn and sometimes used daily to get a percentage of the purchase of foreign currency through the auction of the Central Bank, and therefore this process does not indicate the efficiency But they get a foreign currency to get a daily profit and they are usually speculators who benefit from the price difference between the bank and the market ', pointing out that' sometimes resort to tricks and fraud and falsification in their documents by changing their names or names of the mother to enter the auction of the Central Bank '. 

Abdul Hadi added that '

Abdel Hadi said that 'the central bank has protected itself from these corruption, which is obtained by some of the weak souls, but some officials are pressing to make money through it'. 

The electronic solution is the solution of 

electronic clearing is the best solution to eliminate the phenomenon of volatile instruments, where the economist says the name of Jamil Antoine that 'the best solution to eliminate the volatile instruments is through electronic clearing, which can the central bank to demand the funds of the instrument in seconds and minutes'. 

Antoine pointed out that 'flying instruments are a kind of circumvention of the law that gives an instrument and does not have a balance in it and often in collusion between the person and the bank to postpone the process of clearing the central bank for the purpose of buying the dollar and benefit from it to sell it again for the purpose of profit'.

Antoine said, "This process is a kind of fraud on the law and is held accountable by the law, where in the past the delivery of such instruments without a balance punishable by imprisonment for three years and fined the person three times the amount, but the breakdown of the system and laws in the country led to that It reflects the Iraqi economic reality and the random imbalance in the banks', indicating that 'administrative routine and political and partisan interventions and corruption led to the prevention of the application of sanctions against violators'.

[yota691]

Arrest of two female employees in Al-Rasheed Bank for misappropriation of 19 billion dinars

 

Readers

 

 

Arrest of two female employees in Al-Rasheed Bank for misappropriation of 19 billion dinars

 

20-12-2017 03:17 PM

 

The Euphrates -

 

 

Al-Rusafa Court of Inquiry on integrity issues issued a decision to arrest two female employees in Al-Rasheed Bank for embezzling a sum of 19 billion Iraqi Dinars.

Judge Abdul Sattar Birekdar, spokesman of the Supreme Judicial Council that 'the Court of Inquiry on the issues of integrity stopped two employees in the Bank of Rashid accused of financial embezzlement,' noting that 'the decision came in accordance with Article 315 of the Iraqi Penal Code'.

Berkdar added that 'the accused organized false notices of the names of traders and withdraw those amounts to their personal accounts', pointing out that 'the withdrawals amounted to 19 billion Iraqi dinars'.

[10 YEARS LATER]

Here's a " Political Earthquake " --- Breaking News : " In a last minute frenzied flurry of political will, the GOI PASSES all the necessary bills needed to fast track Iraqs Economic & Social engines, thus catapulting and securing at lightning speed, Iraqs successfull financial future into the 21st Century ! "

 

Not too flowery is it ? Yea, I know: dare to dream, huh.

[Big_J]

2 minutes ago, 10 YEARS LATER said:

Here's a " Political Earthquake " --- Breaking News : " In a last minute frenzied flurry of political will, the GOI PASSES all the necessary bills needed to fast track Iraqs Economic & Social engines, thus catapulting and securing at lightning speed, Iraqs successfull financial future into the 21st Century ! "

 

Not too flowery is it ? Yea, I know: dare to dream, huh.

GM YOTA, 10 YEARS LATER AND DV. MADE MY MORNING MY FRIEND! 

[DinarThug]

CNN. Broadcasting While Doing The Chicken Little Dance - Hey Macarena !

 

 

 

LINK

A new term that runs through the Iraqi banks and earns "millions" within hours without paying one fils

 

20th December, 2017
Flying instruments in Iraq seemed to be a way for those who did not have the money to get several million dollars in a few hours. What is the pilot instrument? 

The so-called pilot instrument is a new Iraqi expression of correct, sound and internationally recognized banking. The pilot instrument in the language of banks is called the "certified instrument" in Iraq or the "bank check" in the Arab countries or the Bank Draft at the global level, ? If this treatment is correct, does it also occur in other countries or regions of the world? If it does not happen in other countries, why should it happen in Iraq? 

The answer is very brief, that this can not happen in any other country in the world other than Iraq and for two main reasons:

The first is the policy of wasting money in Iraq, which amounts to about 100 million dollars a day. This is a policy that will discharge the central bank's reserve within two years, when the Iraqi dinar will collapse and the Iraqi economy will collapse. 

The second reason is the policy of enabling theft of funds at a rate of five to six million dollars On the day of the auction, and this figure will be greatly multiplied as the difference between the selling price of the dollar by the bank and the price of the dollar in the market (parallel price), and the pilot is a means in which the person who does not have money from theft instead of theft People who own N Bumper money! How can that be?

The central bank sells between 100 million to 200 million dollars per day. If a person wants to buy, for example, 20 million dollars, he means that he needs to pay about 24 billion dinars at a dollar rate of 1250 dinars. The amount is difficult to bring in cash for the large size and difficulty of counting with the existence of other logistical difficulties, so this person to issue an instrument certified by the Rafidain Bank, for example, by (24) billion dinars, which takes this so called (pilot instrument) and handed it to the Central Bank and receive his acceptance ( (20) million dollars, and in turn convert the amount of (24) billion dinars from his account in Rafidain Bank to the bank account Based on the certified instrument (the pilot instrument) handed over to the central bank; this is the normal situation without circumvention or theft. In case of circumvention, the order is as follows:

The Rafidain Bank, for example, issue a certified instrument (a pilot) in the amount of (24) billion false liens without any amount in the account of the fraudulent person and the agreement between the director and some employees of Rafidain Bank and the fraudster, and gives this fraudster this instrument certified to the Central Bank takes The amount of (20) million dollars, and then spend this amount in the market every dollar at (1300) dinars at the price of the day, or by (26) billion, and then put (24) billion dinars in the Central Bank account in Rafidain Bank, (2) billion dinars within hours, if this person repeated this process every day it gets a profit of (50) ml Jun dollars in one month, so be robbery.

Serious financial mafias emerged after 2004 to get millions of dollars from the central bank's auction of so-called flying bonds. These mafias were made up of people who did not have the money to get illegal profits that could only be obtained for a few hours by colluding with banks to enter the currency auction. EAHAM has expressed its presence of commercial imports. 

A member of the Finance Committee in the House of Representatives Massoud Haider said in a press statement that 'there are some people collusion with some banks to deposit sukuk at these banks and he does not have any balance to participate in the auction currency, to buy the dollar and sell within a few hours, Between the central bank and the market in order to profit millions of dollars, 'noting that' then the central bank within 48 hours notice the bank to transfer the amounts of the instrument to be returned by this person before this period without being revealed as if the process is legal. '

"The issue of flying instruments is only in Iraq because the banking system is old," he said. "There are officials in state and private banks who are complicit with these people to get quick and illegal profits through the auction." 

"Many people have benefited from the loophole in the banking system in Iraq and have won millions and become rich," he said. "These people themselves are participating in the auction and profits, so the money they receive is haraam." 

Volatile instruments affect the stability of the currency

The former economist of the Central Bank Bassem Abdul Hadi said in a press statement that 'the daily speculation carried out by traders through volatile instruments affect the stability of the currency and the volume of foreign exchange reserves because the bank is covering the needs of Iraq from foreign trade, but these Speculators use these reserves for profit. '

"The volatile instruments often used by traders or banks to buy foreign currency through the deposit of funds for a limited period in the account and then are withdrawn and sometimes used daily to get a percentage of the purchase of foreign currency through the auction of the Central Bank, and therefore this process does not indicate the efficiency But they get a foreign currency to get a daily profit and they are usually speculators who benefit from the price difference between the bank and the market ', pointing out that' sometimes resort to tricks and fraud and falsification in their documents by changing their names or names of the mother to enter the auction of the Central Bank '. 

Abdel Hadi said that 'the central bank has protected itself from these corruption, which is obtained by some of the weak souls, but some officials are pressing to make money through it'. 

The electronic solution is the solution of :  electronic clearing is the best solution to eliminate the phenomenon of volatile instruments, where the economist says the name of Jamil Antoine that 'the best solution to eliminate the volatile instruments is through electronic clearing, which can the central bank to demand the funds of the instrument in seconds and minutes'. 

Antoine pointed out that 'flying instruments are a kind of circumvention of the law that gives an instrument and does not have a balance in it and often in collusion between the person and the bank to postpone the process of clearing the central bank for the purpose of buying the dollar and benefit from it to sell it again for the purpose of profit'.

Antoine said, "This process is a kind of fraud on the law and is held accountable by the law, where in the past the delivery of such instruments without a balance punishable by imprisonment for three years and fined the person three times the amount, but the breakdown of the system and laws in the country led to that It reflects the Iraqi economic reality and the random imbalance in the banks', indicating that 'administrative routine and political and partisan interventions and corruption led to the prevention of the application of sanctions against violators.

[Laid Back]

Removing exchange control will end MCP ....... End of MCP = No more corruption

 

IT'S TIME TO GIVE REAL MARKET VALUE TO THE DINAR

 

Go CBI 

Go new monetary policy 

Go RV 

 

[Texstorm]

Thanks DT ! Come Iraq you can do it now ! Go RV ! Today !

[DinarThug]

http://www.almaalomah.com/2017.....20/266038/

Arrest of two female employees at the Rasheed Bank, accounting for 19 billion dinars

14:04 - 20/12/2017  

 

The Court of Inquiry Rusafa specialized in issues of integrity, on Wednesday, a decision to arrest two female employees in the Bank of Rashid for embezzling a financial amount of 19 billion Iraqi dinars.

The spokesman of the Supreme Judicial Council Judge Abdul Sattar Birqdar said in a statement received a copy of it that "the Court of Inquiry on the issues of integrity arrested two female employees in the Rashid Bank on charges of financial embezzlement," noting that "the decision came in accordance with Article 315 of the Iraqi Penal Code "He said.

Berkdar added that "the accused have organized false notices of the names of traders and withdraw those amounts to their personal accounts," pointing out that "the withdrawals amounted to 19 billion Iraqi dinars." 

[new york kevin]

1 hour ago, DinarThug said:

http://www.almaalomah.com/2017.....20/266038/

Arrest of two female employees at the Rasheed Bank, accounting for 19 billion dinars

14:04 - 20/12/2017  

 

The Court of Inquiry Rusafa specialized in issues of integrity, on Wednesday, a decision to arrest two female employees in the Bank of Rashid for embezzling a financial amount of 19 billion Iraqi dinars.

The spokesman of the Supreme Judicial Council Judge Abdul Sattar Birqdar said in a statement received a copy of it that "the Court of Inquiry on the issues of integrity arrested two female employees in the Rashid Bank on charges of financial embezzlement," noting that "the decision came in accordance with Article 315 of the Iraqi Penal Code "He said.

Berkdar added that "the accused have organized false notices of the names of traders and withdraw those amounts to their personal accounts," pointing out that "the withdrawals amounted to 19 billion Iraqi dinars." 

Wow it is that easy, or unsophisticated to rip off peoples bank accounts; with real hopes of getting away with it? Make an example of them Iraqi Anti-corruption Courts and staff.