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Here's an article of Dinarian interests... Some Iraqi banks close, others refuse to return customer deposits. Treat as a rumor. Not verified. Your opine. FROM IRAQI SOURCES: The Closure Of Most Private Banks & Fears Of A Liquidity Crisis Amid Citizens Anger. ARTICLE: Today, many banks in Iraq witnessed a state of chaos & tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports of some other banks refusing to return customer deposits under the pretext of a lack of cash liquidity. This development prompted many citizens to quarrel with the managements of the banks that remained open, in light of mounting fears that the officials of these banks would flee after emptying them of funds. Banks That Closed Their Doors Include: World Bank. Assyrian Consumption. Consumption Of Babylon. Al Ansari Bank. Middle East Bank. Holding Bank. Noor Bank of Iraq. Trans-Iraq Bank. Al Huda Bank. Mosul Bank. As for the banks that remained open, but refused to return customer deposits under the pretext of a lack of liquidity, they include: National Bank. Consumption of Baghdad. Development Bank. Hermit Bank. South Bank United Bank. Union Bank. Spectrum Bank. This sudden closure comes amid reports of financial turmoil hitting the banking sector in Iraq, as many customers expressed their fear of losing their money amid increasing rumors about the intention of some bank officials to flee outside the country after withdrawing financial assets from the branches.

Here's some articles from Iraq of Dinarian interests... Treat as rumors. Not verified. Your opine. An Expert Reveals The Reason For The Fragility Of The Iraqi Market: Countries Want Imports To Remain. Economic expert Nasser Al-Kanani revealed the reason for the fragility of the Iraqi local market & its inability to confront any external problems. Al-Kanani said in an interview with Baghdad Today, “The Iraqi local market is fragile & cannot face any external problems, as it depends only on foreign imports & does not depend on local national production & therefore the market is greatly affected by any external problems & cannot face any of those problems & therefore the Iraqi government must work seriously to restore local production so that the local market is strong & not affected by any regional or international problems and crises.” He added, “The Iraqi local market is considered one of the most important markets for many countries in the region & the world, to sell their materials in it & it is not unlikely that there are countries working to keep the Iraqi market fragile & dependent on imports, instead of national production & for this reason, throughout the past years, we have not seen any control of local products over the market.” Last March, the Central Bank of Iraq announced that “there is no return to the previous price of the Dollar & the price will not be reduced under any circumstances,” stressing that there is no intention to raise the price above 145,000 for every 100 Dollars, which is the official Iraqi ER. The prices of basic foodstuffs doubled after the government devalued the Dinar & prices increased again, before rising again due to the rise in the price of the Dollar . The prices of some food items in Iraq have increased by between 25 and 75 percent, as the price of one kilogram of sugar rose from 1,000 Dinars to 1,300 Dinars in retail markets, a bottle of cooking oil from 1,500 to 3,000, & grains from 500-750 to 1,000-1,500 Dinars. Warning To Iraqis: New Ways To Steal Your Money & Smuggle It Abroad. Economic via the Internet & mobile phone applications, new digital banks in Iraq are starting to steal money & smuggle it out of the country, especially with the absence of government oversight over the work of these banks that do not have branches on the ground. A new loophole for stealing money & a shortcut for smuggling currency requires government oversight. Digital banks in Iraq are another way to smuggle currency after it is exploited by banks that have been subject to sanctions & require government oversight & serious action towards them. Through unregulated electronic applications, financial transfers are carried out within these applications, without the need for paperwork or financial auditing, which facilitates the transfer process & the possibility of smuggling money in huge quantities. Al-Sudani’s Advisor Explains: Did Electronic Payment Procedures Contribute To Preserving The Dinar’s Solidity? Advisor to the PM & Chairman of the Supreme Committee to Support the Iraqi Dinar, Qasim Al-Dhalimi, announced today, Tuesday, the committee’s success in restoring citizens’ confidence in the Dinar, while pointing out that it has provided mechanisms to preserve the solidity of the Dinar & the financial bloc. Al-Dhalimi said, “The Supreme Committee for Supporting the Iraqi Dinar worked on how to restore the citizen’s confidence in the Dinar & to make it the main link between him & the source of his money & how the citizen can connect the Dinar to the solid Iraqi banks & how to deal with it electronically,” indicating that “the committee worked on many important joints.” He added that “the citizen wanted to know the extent of the interest of the government or private bank in dealing with depositing his money & how to find real mechanisms to support the Dinar by balancing it with other foreign currencies,” noting that “there are mechanisms proposed by the committee for how electronic payment can be one of the features that preserve the solidity of the Dinar & preserve the financial mass present within the banks & for the citizen to be the 1st & last beneficiary & the electronic organization process, so the committee sought to achieve financial security & stability in the government program.” Expert Proposes A Single Proposal To Confront The Decline In Oil Prices & Issues A Warning To Producing Countries Oil expert Haider Al-Batat warned oil-producing countries today, Monday (September 30, 2024), noting that shale oil production is more economically feasible. Al-Batat said in an interview with Baghdad Today that “the rise in oil prices leads to a slowdown in industrial growth & a decrease in demand for oil, with an increase in the trend towards the use of alternative energy. This represents a threat to oil-exporting countries & the main beneficiary of this situation is the US.” He added, “US shale oil production is only economically viable when the price per barrel exceeds $65. If the price of oil falls below $65, US oil production becomes economically unviable.” He explained that “this will force America to reduce its production of shale oil, which will make the market need 10 million barrels of oil & this will lead to an increase in demand for oil produced by OPEC member states to compensate for the gap resulting from the decline in American production.” The oil expert concluded by saying, “This scenario is the only solution to confront the decline in oil consumption & the shift to alternative energy. It will also increase industrial growth, thus pushing oil-producing countries to increase oil production to keep pace with the increasing global demand. Thus, they compensate for the decline in price by increasing quantities. This in turn increases the costs of using alternative energy, which is ultimately much higher than the price of fossil energy, leading consumers to turn away from it & continue to rely on fossil energy while developing & upgrading it to be environmentally friendly.” According to the US Energy Information Administration, the US has the largest recoverable resource of shale oil in the world, amounting to 78.2 billion barrels so far, followed by Russia with 74.6 billion barrels. Although China is a relative newcomer to the scene, it holds a significant position with reserves of 32.2 billion barrels, contributing 7.7% of the global share. Argentina, Libya & the United Arab Emirates also made the top ranks, indicating the diverse distribution of shale oil resources around the world. Internal & External Debts “Exhaust” The Iraqi Budget & Experts Diagnose The Reasons. The Iraqi government took a series of measures to reduce the external public debt from the financial surpluses achieved as a result of the rise in oil prices & succeeded in reducing it. However, in return, the internal debt rose to exceed 70 trillion Dinars to bridge the gap in financial liquidity & operating expenses. Iraq continued to borrow externally after 2003, especially during the oil price collapse that coincided with security operations against ISIS in 2014, in addition to internal borrowing to cover the country’s General Budget deficit. The IMF said that Iraq’s internal imbalances were exacerbated by the large financial expansion & the decline in oil prices, noting that Iraq needs to gradually correct the public finances to achieve debt stability in the medium term & rebuild financial reserves. “Dead” Debts. Member of the Parliamentary Finance Committee, Jamal Kojer, said in an interview with Shafaq News Agency, “The external debt found in the reports available to us is a dead debt related to the Gulf War. These debts date back more than 30 years & countries do not demand them, so they are not real debts. If the Iraqi state demands their cancellation, they will be cancelled.” He points out that “the internal debt, which exceeds 70 trillion Iraqi Dinars, is gradually increasing because the state’s revenues are less than expenditures & despite that, it is not a frightening debt.” According to official data, Iraq’s internal debts amount to $50 billion, which are collected within the official & governmental financial apparatus, in addition to the existence of outstanding debts to eight countries, including Iran, Saudi Arabia, Qatar, the Emirates & Kuwait, amounting to $40 billion. These debts are questionable from Iraq’s point of view & have not been written off, despite being subject to the Paris Club. Low External Debt. In turn, the financial advisor to the PM, Mazhar Muhammad Salih, explained in an interview with Shafaq News Agency, that “Iraq is considered one of the countries with very little external debt, as the total debts due do not exceed 10 billion Dollars & these have annual allocations in the federal General Budget to extinguish them & they must be extinguished by 2028.” “The external debt is the remnants of the pre-1990 settlements,” he added, noting that “Iraq is considered to have high creditworthiness according to the classification of international companies such as S&P Global Ratings and Fitch & therefore the external debt does not exceed 5% of the gross domestic product compared to the international standard that accepts debts up to 60% of the gross domestic product.” Saleh points out that “there are internal debts amounting to 76 trillion Dinars caused by two financial crises, the 1st of which was between 2014 & 2017, which was the war against ISIS terrorism & the decline in oil prices & the 2nd crisis was the Corona pandemic, which led to the closure of global markets & a significant decline in oil prices& thus large borrowings occurred.” He stresses that “domestic debt generally does not exceed 30% of the gross domestic product & is a debt within the government & not between the government & individuals or the market & there are mechanisms to extinguish it within the government’s financial & banking system & therefore there are no risks.” Debt Is Not The Perfect Solution. However, the economic expert, Dhurgham Muhammad Ali, sees the opposite of what the financial advisor said & says in an interview with Shafaq News Agency, “The internal debts also pose a danger because they must be paid & must not exceed 50% of the country’s annual gross domestic product.” He added, “Expanding domestic borrowing is not the ideal solution to cover the Budget deficit, but rather it is an easy way to cover the deficit using primitive but effective methods, as long as they do not exceed the required limit, especially in light of the decline in financial inclusion & the low rates of bank deposits for the Iraqi citizen compared to neighboring countries.” He explains that “combating corruption and following up on Iraq’s money that has been swallowed by corruption over the past years is slow and ineffective and faces obstacles and challenges, and recovering this money could pay off many internal debts.” Hard Currency. For his part, economic expert Hilal Al-Taan confirmed, in an interview with Shafaq News Agency, that “the internal debts do not have a significant impact on the Iraqi economy & most of them are in favor of the Ministry of Finance, the CBI & other ministries.” He believes that “the major impact on the economy is on foreign debts because they are settled in hard currency, unlike domestic debts, which are settled in national currency. The state must first reduce foreign debts.” The largest part of the domestic debt is owed to the CBI, the Rafidain & Rashid banks & the Trade Bank of Iraq, which lent the government large sums of money to cover the federal budget deficit.

FROM IRAQI SOURCES: Government Confirms Its Adoption Of A “Constructive Economic Policy” ARTICLE: PM Mohammed Shia Al-Sudani met today, Friday, with the head of the Victory Coalition, Haider Al-Abadi, where the meeting witnessed discussions on a number of issues & files related to the work of the legislative & executive authorities. The two sides reviewed “ways to enhance cooperation & accelerate the basic requirements for implementing the government program in various fields.” During the meeting, Al-Sudani stressed that the government is adopting a constructive economic policy, improving the level of services that citizens receive from state agencies, alleviating their suffering & completing the infrastructure that will provide an additional boost to development projects at various levels. Oil & Gas Parliamentary: There Is A Major Failure In The Work Of The Internal Control Department At The Ministry Of Oil. The Parliamentary Oil & Gas Committee identified a major failure & a number of observations regarding the work of the Director of the Internal Control Department at the Ministry of Oil. The committee’s spokesman, Ali Shaddad, told Al-Mirbad that his committee hosted the director of the Internal Control Department at the Ministry of Oil & after directing a number of questions to him, it became clear that there were many delays in the work of the department & it had become one of the departments that repelled cadres specialized in internal control, despite the fact that they were cadres who had undergone important training & were linked to financial control. However, there were 35 employees who left the Internal Control Department during the current director’s tenure & it is not easy to dispense with them. Shaddad added that a number of questions were put to the director regarding suspicions of corruption in some contracts that were flagged by the Federal Financial Supervision Bureau, in addition to the failure of the Director of Special Supervision to adhere to the directives of the Minister of Oil, so the work in the department began to decline despite the importance of its work. Pointing out that the Parliamentary Oil Committee decided that this hosting would be open until the next session, which will be determined later by the Oil & Gas Committee. Of their raw materials. It Is Due To Iran & Russia...Iraq & Saudi Arabia Have Fallen From The Top Oil Exporters To China. The “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations attributed, on Saturday, the reason for the decline of both Iraq & Saudi Arabia from the ranks of the largest oil exporters to China to the incentives provided by the Russians & Iranians to increase the purchase The institution stated in a report published today that Russia acquired 22% of China’s oil imports in August 2024, at prices less than 6% of the average purchase prices. He added that the Iranians, through Malaysia, acquired 17% of China’s oil imports & less than 10% of the average price, which pushed both Iraq & Saudi Arabia to fall from the position of the largest exporters of crude oil to China, which is the largest market. According to the institution’s report, during last July, the average price of Russian oil was less than 4% of the average price, while the average price of Iranian oil was less than 7.5%, meaning that both parties increased their incentives to China to continue China’s dependence on the oil of the two countries, even if at prices lower than the offered rates. The institution attached to its report a detailed table on oil sales to countries that deal with China, as listed below: Escalating Demands To Expose Corruption In Iraqi Ports: A Threat To The National Economy. By Sotaliraq: The Iraqi arena is witnessing increasing demands to uncover corruption files in Iraqi ports, as these ports are among the most important vital facilities for the Iraqi economy. Suspicions have increased about financial and administrative irregularities in import and export operations, which have negatively affected government revenues. Political & parliamentary parties are demanding transparent investigations to uncover those involved and hold them accountable, considering that corruption in these institutions contributes to the deterioration of the economic situation & hinders development & reform plans. This comes at a time when Iraq is seeking to strengthen financial oversight & achieve transparency in government institutions. Independent MP Yasser Al-Hussaini says, “The most dangerous corruption file in the Iraqi government is the file of the General Company for Iraqi Ports, where there is a waste of money and a lack of engagement with the voices calling for stopping this corruption.” He added, “The government has ignored the ports corruption file, although the ministerial program stipulates combating corruption, as there are corruption files that will not be investigated even with the end of the current government’s term, especially in the General Ports Company.” Al-Hussaini calls on the government to “pay attention to the voices calling for withdrawing the current management of the aforementioned company & to open a fair judicial investigation to look into the number of identified violations.” For his part, the head of the Parliamentary Security and Defense Committee, Karim Aliwi Al-Muhammadawi, revealed suspicions of corruption in the manipulation of types of cars & customs clearance at ports & border crossings. Al-Muhammadawi says, “There is a lack of oversight operations and a lack of coordination between the security & oversight agencies within the Iraqi ports and border crossings, as the competent oversight agencies are required to play their role in reducing suspicions of corruption & preserving public money.” In this context, MP Alaa Al-Haidari, a member of the Iraqi Ports Corruption Investigation Committee, said: “We were surprised to find a shipment of about 20,000 tons of yellow corn that was rotten & spoiled inside a ship coming from Australia. There were approvals from some government agencies to unload this shipment, so we were surprised to find about 6,000 tons of yellow corn unloaded in the warehouses of a Turkish factory used to receive cooking oil in the port of Umm Qasr.” He added: “We found that the contract included that the yellow corn coming from Australia was used for oil & after it was spoiled, its quality was changed to animal feed because it was exposed to rot. After examining this material, it became clear that it was not suitable for animal feed, nor was it suitable as cooking oil.” He explained: “The opinion of the Parliamentary Order 160 Committee to investigate port corruption was to reserve & inform the Director of the Southern Ports & the Customs Administration not to unload the remaining shipment from these warehouses, but the information received indicates that approximately 14 thousand tons of this damaged shipment were unloaded from these warehouses,” stressing that “every party that gave approval to unload this shipment will bear responsibility for negligence & an investigation will be opened into this dangerous file.” It is noteworthy that the Ministry of Finance and the Customs Authority are seriously seeking to make new progress in implementing the “ASYCUDA” system in the Grand Welcome Square at Basra Ports in rapid procedures to generalize information technology & limit commercial transactions electronically as is happening in more than 80 countries around the world. At the beginning of 2024, the Iraqi General Customs Authority announced that its revenues during the past year amounted to one trillion, 33 billion, 765 million, 697 thousand, 521 Iraqi Dinars, an increase of 28 percent, compared to 2022, expressing its hope to maximize its revenues during 2024 after completing the implementation of electronic systems in all customs centers. Government Confirms Its Adoption Of A “Constructive Economic Policy” PM Mohammed Shia Al-Sudani met today, Friday, with the head of the Victory Coalition, Haider Al-Abadi, where the meeting witnessed discussions on a number of issues & files related to the work of the legislative and executive authorities. The two sides reviewed “ways to enhance cooperation & accelerate the basic requirements for implementing the government program in various fields.” During the meeting, Al-Sudani stressed that the government is adopting a constructive economic policy, improving the level of services that citizens receive from state agencies, alleviating their suffering & completing the infrastructure that will provide an additional boost to development projects at various levels. Oil & Gas Parliamentary: There Is A Major Failure In The Work Of The Internal Control Department At The Ministry Of Oil. The Parliamentary Oil and Gas Committee identified a major failure and a number of observations regarding the work of the Director of the Internal Control Department at the Ministry of Oil. The committee’s spokesman, Ali Shaddad, told Al-Mirbad that his committee hosted the director of the Internal Control Department at the Ministry of Oil & after directing a number of questions to him, it became clear that there were many delays in the work of the department & it had become one of the departments that repelled cadres specialized in internal control, despite the fact that they were cadres who had undergone important training & were linked to financial control. However, there were 35 employees who left the Internal Control Department during the current director’s tenure & it is not easy to dispense with them. Shaddad added that a number of questions were put to the director regarding suspicions of corruption in some contracts that were flagged by the Federal Financial Supervision Bureau, in addition to the failure of the Director of Special Supervision to adhere to the directives of the Minister of Oil, so the work in the department began to decline despite the importance of its work. Pointing out that the Parliamentary Oil Committee decided that this hosting would be open until the next session, which will be determined later by the Oil & Gas Committee. The “Iraq Al-Mustaqbal” Foundation for Economic Studies & Consultations attributed, on Saturday, the reason for the decline of both Iraq & Saudi Arabia from the ranks of the largest oil exporters to China to the incentives provided by the Russians & Iranians to increase the purchase of their raw materials. The institution stated in a report published today that Russia acquired 22% of China’s oil imports in August 2024, at prices less than 6% of the average purchase prices. He added that the Iranians, through Malaysia, acquired 17% of China’s oil imports and less than 10% of the average price, which pushed both Iraq & Saudi Arabia to fall from the position of the largest exporters of crude oil to China, which is the largest market. According to the institution’s report, during last July, the average price of Russian oil was less than 4% of the average price, while the average price of Iranian oil was less than 7.5%, meaning that both parties increased their incentives to China to continue China’s dependence on the oil of the two countries, even if at prices lower than the offered rates. The institution attached to its report a detailed table on oil sales to countries that deal with China, as listed below: Escalating Demands To Expose Corruption In Iraqi Ports: A Threat To The National Economy. By Sotaliraq The Iraqi arena is witnessing increasing demands to uncover corruption files in Iraqi ports, as these ports are among the most important vital facilities for the Iraqi economy. Suspicions have increased about financial and administrative irregularities in import & export operations, which have negatively affected government revenues. Political & parliamentary parties are demanding transparent investigations to uncover those involved & hold them accountable, considering that corruption in these institutions contributes to the deterioration of the economic situation & hinders development & reform plans. This comes at a time when Iraq is seeking to strengthen financial oversight & achieve transparency in government institutions. Independent MP Yasser Al-Hussaini says, “The most dangerous corruption file in the Iraqi government is the file of the General Company for Iraqi Ports, where there is a waste of money & a lack of engagement with the voices calling for stopping this corruption.” He added, “The government has ignored the ports corruption file, although the ministerial program stipulates combating corruption, as there are corruption files that will not be investigated even with the end of the current government’s term, especially in the General Ports Company.” Al-Hussaini calls on the government to “pay attention to the voices calling for withdrawing the current management of the aforementioned company & to open a fair judicial investigation to look into the number of identified violations.” For his part, the head of the Parliamentary Security and Defense Committee, Karim Aliwi Al-Muhammadawi, revealed suspicions of corruption in the manipulation of types of cars & customs clearance at ports & border crossings. Al-Muhammadawi says, “There is a lack of oversight operations and a lack of coordination between the security & oversight agencies within the Iraqi ports & border crossings, as the competent oversight agencies are required to play their role in reducing suspicions of corruption & preserving public money.” In this context, MP Alaa Al-Haidari, a member of the Iraqi Ports Corruption Investigation Committee, said: “We were surprised to find a shipment of about 20,000 tons of yellow corn that was rotten & spoiled inside a ship coming from Australia. There were approvals from some government agencies to unload this shipment, so we were surprised to find about 6,000 tons of yellow corn unloaded in the warehouses of a Turkish factory used to receive cooking oil in the port of Umm Qasr.” He added: “We found that the contract included that the yellow corn coming from Australia was used for oil & after it was spoiled, its quality was changed to animal feed because it was exposed to rot. After examining this material, it became clear that it was not suitable for animal feed, nor was it suitable as cooking oil.” He explained: “The opinion of the Parliamentary Order 160 Committee to investigate port corruption was to reserve and inform the Director of the Southern Ports and the Customs Administration not to unload the remaining shipment from these warehouses, but the information received indicates that approximately 14 thousand tons of this damaged shipment were unloaded from these warehouses,” stressing that “every party that gave approval to unload this shipment will bear responsibility for negligence & an investigation will be opened into this dangerous file.” It is noteworthy that the Ministry of Finance & the Customs Authority are seriously seeking to make new progress in implementing the “ASYCUDA” system in the Grand Welcome Square at Basra Ports in rapid procedures to generalize information technology & limit commercial transactions electronically as is happening in more than 80 countries around the world. At the beginning of 2024, the Iraqi General Customs Authority announced that its revenues during the past year amounted to one trillion, 33 billion, 765 million, 697 thousand, 521 Iraqi Dinars, an increase of 28 percent, compared to 2022, expressing its hope to maximize its revenues during 2024 after completing the implementation of electronic systems in all customs centers.

Here's some articles of Dinarian interests... -A Reading Of The “Roles Of Corruption” Between Parliament & Local Councils. What Is The Story Of The $1,000 Billion? -Rafidain”: Implementing The Comprehensive Banking System In 40 Branches In Baghdad & The Governorates. -Central Bank Meets With Electronic Payment Companies & Contracts With An International Auditing Firm In NYC. -Al-Sudani Directs The Formation Of A Committee To Review The Financial & Legal Observations Of The Decision To Transfer Oil Companies. -Oil Falls In August Amid Supply Concerns. Treat as rumors. Not verified. Your opine. -A Reading Of The “Roles Of Corruption” Between Parliament & Local Councils. What Is The Story Of The $1,000 Billion? Political science professor Issam Al-Faily commented Wed (August 28, 2024), about the extent of corruption between the House of Representatives & the provincial councils & which of them is wasting public money. Al-Faili told “Baghdad Today” “It is not possible to evaluate the experience of the provincial councils, whether they are corrupt or not, because of the short lifespan of those councils, in addition to their cessation that lasted for years, while they did not carry out their assigned tasks, especially the executive side, as the Budget has not been released yet.” He added, “But in previous experiences, there were many files in the provincial councils that were referred to the Integrity & Judicial Authorities Commission & some officials in those councils were issued recruitment or follow-up orders, so there were practices that caused the waste of public money & the seizure of state capabilities.” He added, “The House of Representatives is financially burdening the state treasury, especially in light of the demands to increase the salaries of representatives, allocations & privileges. This contradicts the legislative work of Parliament, whose work is based on oversight and legislation, as well as evaluating government performance.” Al-Faili pointed out, “There are representatives who have been referred to the judiciary on corruption charges,” adding: “Corruption does not only include wasting public money & appropriating it, but rather includes violating the law in many cases.” He stated, “The material damages are distributed between the House of Representatives & the governorate councils. The governorate councils involve a waste of public money & some see it as an extra link & an overlap of the powers of the executive & legislative authority on the one hand with the work of the governorate council & this has created a state of confusion.” The information indicates, according to officials’ statements, that Iraq wasted more than 450 billion Dollars during the last period without there being NO accounts for this money, taking into account that oil revenues from 2003 to 2021 amounted to more than 1,000 Billion Dollars, according to what was revealed by the former President of the Republic. Barham Salih, who added that the value of the looted funds is estimated at 150 billion Dollars, noting that these numbers reveal only a small amount of the truth, according to observers. -Rafidain”: Implementing The Comprehensive Banking System In 40 Branches In Baghdad & The Governorates. Rafidain Bank announced today, Saturday, the implementation of the comprehensive banking system in 40 branches. The bank stated in a brief statement: “The comprehensive banking system has been implemented in 40 branches in Baghdad & the governorates.” -Central Bank Meets With Electronic Payment Companies & Contracts With An International Auditing Firm In NYC. The CBI confirmed on Saturday that its governor, Ali Mohsen Al-Alaq, met with a number of electronic payment companies & signed a contract with an international auditing firm in NYC. The CBI said in a statement, seen by “Economy News”, that the CBI delegation “headed by the Gov of the CBI Ali Mohsen Al-Alaq to the US, discussed the use of electronic payment cards & ways to regulate & stimulate their use in line with Iraq’s move towards electronic payment.” Al-Ban added that this came “during separate meetings with a group of companies such as (Visa, Mastercard & MoneyGram), as the international auditing firm (KPMG) presented an extensive analytical presentation of the uses of these cards, reinforced with recommendations & proposals to enhance organized use & accommodate the significant increase in citizens’ use of these cards.” The statement stressed that the parties praised “during the negotiations the important steps to enhance the banking sector reforms, the most important of which is the contract that the delegation of the CBI concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the USD, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi & international banking sector, in addition to improving the level of banks’ procedures in line with international standards, as this initiative aims to facilitate the process of establishing direct banking relations, and improve the quality & type of services provided by banks to serve the Iraqi economy, as the company is scheduled to start its work in the coming period. -Al-Sudani Directs The Formation Of A Committee To Review The Financial & Legal Observations Of The Decision To Transfer Oil Companies. PM Mohammed Shia al-Sudani directed today, Saturday, to form a committee to review the Cabinet’s decision to transfer the salaries of the Ministry of Oil companies to central financing. Deputy PM for Energy Affairs &d Minister of Oil Hayan Abdul Ghani said in a statement received b Mawazine News, “The government & the Ministry of Oil, in their keenness to support workers in the oil sector, PM Mohammed Shia al-Sudani directed to form a committee to study & review all financial & legal observations of Cabinet Resolution No. 24600 of 2024 & correct it in a way that ensures the preservation & non-touching of salaries, incentives & profits of members of oil companies& formations.” He added, “This came based on the observations of the Ministry of Oil pursuant to its letters No. (W/644 on 8/21/2024) and (W/666 on 8/28/2024),” stressing that “this issue is receiving attention and follow-up from the leadership of the oil sector, which confirms its keenness to support the rights, duties & interests of workers in oil companies & formations, in a way that ensures a free & dignified life.” -Oil Falls In August Amid Supply Concerns. Oil prices settled lower, as investors assessed expectations that the OPEC+ alliance will increase supplies starting in October. This is in addition to the fading of hopes for a significant interest rate cut in the US next month, after US inflation data showed strong consumer spending. Brent crude futures for October delivery, which expire on Friday, fell $1.14, or 1.43 percent, to settle at $78.80 a barrel, down 0.3 percent on the week & 2.4 percent on the month. U.S. West Texas Intermediate (WTI) crude futures fell $2.36, or 3.11 percent, to $73.55, down 1.7 percent on the week and 3.6 percent in August. Six OPEC+ sources told Reuters that the alliance is likely to proceed with a planned gradual increase in oil production from October, at a time when outages from Libya & pledges to cut production by some member states to compensate for overproduction will offset the impact of slowing demand. Investors, meanwhile, are assessing new data showing U.S. consumer spending rose strongly in July, suggesting continued strength in the economy early in the 3rd quarter & are seeing no reason for the Federal Reserve to cut borrowing costs by half a percentage point next month. LUIGI'S TWO CENTS WORTH: Corruption in CBI USD auctions are only the surface of how widespread corruption in Iraq really is. Corruption in taxes, customs, banking, the Budget & in Parliament is totally out of control. Even fake banks, corporations & street vendors are benefiting Iran that's bleeding the economy. CBI hires an int'l accounting firm to monitor where all the monies are disappearing to. Billions, if no trillions of USD are disappearing out of the Iraq economy. Iran grows fatter by the day as ordinary out of work Iraqis, starve. The Iraqi treasury & CBI auctions revenues remain unchanged in spite of record revenues coming in. Iraq is being slowly bled from all facets of the entire Iraq economy. There cannot be a RV-RI with all the institutionalized corruption going on. This is the #1 issue holding back the RV-RI. IMHO.

Here's some articles of Dinarian interests... -Government Acknowledges “CBI Failure” To Control Dollar ER. -Parliament Falsifies The Budget Again.. Al-Mandlawi May Lose His Position! -Allocations were manipulated within the House of Representatives in an illegal manner. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Government Acknowledges “CBI Failure” To Control Dollar ER. ARTICLE: Since the CBI started operating the electronic platform & the international financial transfer system “SWIFT” about a year ago, the Dollar ER in Iraq has not witnessed stability despite the government & CBI’s attempts to control the ER in parallel markets. In this context, member of the Parliamentary Finance Committee, Mustafa Sand, held the government & the CBI responsible for the failure to control the ER of the Dollar against the Iraqi Dinar today, Monday. Today, Monday, the Dollar prices decreased with the opening of the Al-Kifah & Al-Harithiya stock exchanges in Baghdad, where it recorded 149,500 Dinars for every 100 Dollars, while the ER in the exchange shops in the local markets in Baghdad witnessed a decrease, where the selling price reached 150,000 Dinars & the buying price reached 148,000 Dinars for every 100 Dollars. Sand said in a press statement that “the government did not succeed in controlling the Dollar ER due to the policies of the US Federal Reserve,” noting that “the Iraqi side’s discussions with the American side did not achieve any positive results except for a protocol meeting with Biden that did not exceed 20 minutes.” He pointed out that “there is American guardianship to bring in the Jordan National Bank & its acquisition of hard currency.” On July 9, Parliamentary Finance Committee member Raed Al-Maliki confirmed that the failure of the CBI’s measures & the “government’s measures” & its advisors to achieve stability for the Dinar & reduce the gap between the two prices costs the state huge sums of money (trillions) that are wasted outside the Budget, & billions that go into the pockets of corrupt people whose addresses are many & the people bear a great burden as a result of the reliance of the prices of most goods on the ER in the parallel market, which is much higher than the official selling price.” On July 2, the PM’s financial advisor, Mazhar Mohammed Saleh, confirmed that the suspension of the electronic platform was part of a test aimed at controlling all financial transactions related to the Dollar & preventing tourists from taking out the Dollar, adding that closing the platform showed that the Dollar was no longer able to rised & that the CBI would reopen the platform on July 14 under close supervision. On July 1, the CBI issued a letter allowing Rashid Bank, Rafidain Bank, the Commercial Bank of Iraq & airport exchange companies to sell the Dollar at the official ER to tourists starting next November. The bank stressed that any currency exchange company that does not have branches at airports until November 11 can transfer its transactions to branches of one of the Rafidain or Rashid Banks or the Commercial Bank of Iraq, or work in partnership with exchange companies such as Al Rayan, Finjan, Sama Baghdad & Al Sukkar, which currently have branches at airports. Since the beginning of last year, Washington has intervened to limit the smuggling of Dollars from Iraq, which led to the Dollar price rising in the local market to a record level of 170,000 Dinars per 100 Dollars, due to the decline in the CBI’s sales of Dollars, given its subjection to the international “SWIFT” financial system. It is noteworthy that the CBI decided to finance trade in the Euro, the Chinese Yuan, the UAE Dirham & the Indian Rupee, in steps to reduce the demand for the Dollar. -Parliament Falsifies The Budget Tables Again.. Al-Mandlawi May Lose His Position! MP Basem Khashan confirmed the possibility of terminating the membership of the acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, if the charges of tampering with the Budget Tables that were recently revealed by the PM’s Office are proven, noting that the parliament committed legal violations in amending the Budget Tables & they were on their way to being published & implemented had it not been for the government’s scrutiny, indicating that many MPs were subjected to deception in this file. The Council of Ministers had spoken of an increase of 15 trillion Dinars in the last tables & it was not included in the agreement, discussions & voting, requesting a re-audit. Khashan said, in an interview with the media figure Ahmed Mulla Talal: The Budget Tables sent by the Council of Ministers were changed & their allocations were manipulated within the House of Representatives in an illegal manner. The forged schedules would have been published and implemented had it not been for the Cabinet’s scrutiny. Most of the Budget Schedules have been changed & the process has been carried out by ignoring a large number of parliamentarians. The legal violations committed by the House of Representatives in amending the Budget Tables are countless & are considered a major crime. The funding for the ration card basket has been increased to 5 trillion Dinars for contracts that include major problems. Manipulation & alteration operations can be legally classified under the crimes of alteration with the intent to defraud, regardless of the size of the amounts & figures that were manipulated. The acting Speaker of the House of Representatives is responsible for tampering with the budget tables sent to the Cabinet. The Federal Court can terminate Mohsen Al-Mandalawi’s membership, if the charges of manipulation are proven. -Learn About The Mechanism For Depositing Dinars & Receiving Dollars For Travelers From The Airport, Local. The CBI published the mechanism for depositing the Dinar & receiving the Dollar for travelers from the airport. The CBI stated in a statement received by Sumarya News, “The process of depositing the Dinar & receiving the Dollar for travelers from the airport has become easier & safer, in a very smooth electronic manner & without routine complications.” -The Biggest Challenge. The biggest dilemma that many countries – especially Iraq – are struggling with is their reliance on a rentier economy, which places the state’s capabilities under the control of variables that it may not be able to control & direct & contributes greatly to the emergence of a clearly unequal class in society, as it also has an impact on spreading ease & resignation among citizens due to the absence of incentive & competition. In Iraq, oil constitutes more than 90 percent of its total economy, making it a rentier state par excellence. There are many reasons for this, most of which go back to the series of wars & policies of the former regime & the period of economic blockade & later to political strife & factional conflicts that contributed to the dispersion of resources & the absence of an effective economic policy. But the status quo is not an imposed fate & the government program proposed by PM Mohammed Shia al-Sudani & approved by the House of Representatives included solutions to this dilemma that could be the 1st steps on a long & arduous path that will take Iraq out of the captivity of dependence on a rentier economy. The PM’s repeated references to diversifying sources of income & maximizing financial resources from other sources of income & the urging to pay great attention to the agricultural, industrial & service sectors& activate the tax sector. All these references reveal the size of the challenge that the government has placed on itself, a challenge that forms the basis of the government’s policy aimed at reforming the economy after decades of lack of will & ability to create a secure alternative economy.

Here's some articles of Dinarian interests... -Parliamentary Committee: The Decline In Oil Prices Will Not Affect The Budget. -CBI Gov Participates In A Workshop Specialized In Electronic Payment.-Document. -The Iraqi Judiciary Settles The Controversy Over Whether The Gov Of CBI Should Remain In His Position Or Not. -Iraq Loses $52 Billion In Foreign Investment Due To “Corruption” Treat as rumors. Not verified. Your opine. -Tishwash: Parliamentary Committee: The Decline In Oil Prices Will Not Affect The Budget. On Saturday, the Parliamentary Oil and Energy Committee in the House of Representatives renewed its assertion that the drop in oil prices to $70 per barrel will not affect the budget. Vice Chairman of the Committee, Nehru Mahmoud Qadir, told the Maaloma Agency, “There are concerns if the price of a barrel of oil reaches less than $70 in next year’s budget.” He added, “The price of a barrel of oil was calculated at $70 in the budget for the year 2024, indicating that the slight fluctuation in oil prices will not affect it.” He stressed that “employees’ salaries are fully insured even if oil prices drop to $70.” -CBI Gov Participates In A Workshop Specialized In Electronic Payment-Parliamentary Committee: His Excellency the Governor of the CBI, Mr. Ali Mohsen Al-Alaq, participated in a specialized workshop on accelerating the transition to electronic payment, sponsored by the PM & organized by the Osool Foundation for Economic Development & Sustainable Development. His Excellency the Governor said during his speech at the workshop: The CBI works side by side with the government program & the PM’s direction to support electronic payment & we are proud of what we have achieved so far. In 2023, the amounts processed through the national switchboard witnessed a significant increase, reflecting the development of the infrastructure & the expansion in the use of electronic payment channels & the impact of the campaign launched by the PM to activate electronic payment operations in general & in the government sector in particular. His Excellency added that these upward trends continued to develop in 2024, as the amounts processed in the national switchboard systems amounted to more than (2) trillion Iraqi Dinars in July alone, compared to (800) billion Dinars in the same month of 2023, after which it became (1) trillion Dinars in January of 2024 & government payments witnessed an additional increase, reaching (912) billion Iraqi Dinars last July compared to (287) million Dinars in the same month of 2023. His Excellency pointed out that payment operations at fuel stations in Baghdad alone increased significantly, recording more than (44) billion Dinars in July of this year, compared to (183) million Dinars in July of 2023 and (4.5) billion Dinars in December 2023, revealing a huge increase in the number of points of sale (POS) to reach more than (50) thousand points of sale this year compared to approximately (11) thousand POS points of sale at the beginning of 2023 & thousands of them are in government institutions after they were zero before the launch of the campaign in June 2023. Expressing his hope that government institutions will adopt the establishment of units specialized in electronic payment technologies to work on following up & developing this important aspect. -Document.. The Iraqi Judiciary Settles The Controversy Over Whether The Gov Of CBI Should Remain In His Position Or Not. The Supreme Judicial Council in Iraq supported the State Council’s decision to refer the CBI Gov, Ali Al-Alaq, to retirement after reaching the legal age. The Supreme Judicial Council said in an official document, a copy of which was received by Shafaq News Agency, that the same subject was studied by the Studies Committee in the Presidency of the Judicial Supervision Authority & the same opinion of the State Council was reached in the two aforementioned decisions. The House of Representatives had sent a letter to the Supreme Judicial Council inquiring about the judiciary’s opinion on the permissibility of the bank governor continuing in service after reaching the legal retirement age. The State Council has decided the official position on whether or not the CBI Gov, Ali Al-Alaq, will continue in his position, confirming that he has exceeded the legal retirement age. It was stated in correspondence between the State Council and Parliament, in response to the House of Representatives’ request to clarify the opinion of the State Council regarding the permissibility of the Gov of the CBI continuing in service after reaching the legal retirement age. The State Council had explained, according to the documents, that Clause (First) of Article (103) of the Constitution stipulated that the CBI shall be a financially & administratively independent body whose work shall be regulated by law & which shall be accountable to the House of Representatives. Article (2) of the CBI Law issued pursuant to Order No. (56) of 2004 of the (dissolved) Provisional Coalition Authority stipulated that the CBI shall be a legal entity with full capacity & independence & subject to accountability. He pointed out that the legislator has explicitly stipulated that retirement upon reaching the legal age is an inevitable retirement by law unless exempted by a special provision & since there is no special provision exempting the Gov of the CBI from the provisions of inevitable retirement upon reaching the legal age. The State Council confirmed that the legal principle states: “Heads of independent bodies are subject to the legal retirement age.” -Iraq Loses $52 Billion In Foreign Investment Due To “Corruption” On Saturday, the head of the “Iraq Al-Mustaqbal” Foundation concerned with economic affairs, Manar Al-Obaidi, referred to the latest report of the United Nations Development Program, which revealed the exit of more than 5 billion US dollars in foreign direct investments from Iraq in 2023. The report showed, according to Al-Obaidi, that Iraq lost foreign investments worth more than 52 billion US dollars from 2013 to 2023. Al-Obaidi stressed, in a statement received by Shafak News Agency, the importance of foreign investments in stimulating economic growth, increasing job opportunities & transferring knowledge, stressing that foreign investments are an important source of income for funds not linked to state revenues or local investments. Al-Obaidi identified the main reasons for the exit of these investments from Iraq, which include the deteriorating business environment, lack of transparency, accumulated bureaucracy & multiple & conflicting decision-making sources, explaining that the lack of clear laws to protect foreign investors’ funds also contributed to this deterioration. Al-Obaidi described the private sector support programmes as “weak slogans”, pointing out that the totalitarian & socialist thinking is prevalent in government institutions, which has negatively affected the objectives of investment agencies that have focused mainly on local real estate investments rather than in the fields of energy, infrastructure & productive projects. Al-Ubaidi stressed that the continuation of socialist & pastoral thinking in government agencies will lead to the continued draining of foreign investments from Iraq. He stressed the need for a real will to improve the business environment through three basic elements: transparency, facilities, and protection, in order to attract foreign investors and strengthen the Iraqi economy. Mot: ….. OK Gals!! — What Can Ya Do With $5…… CBI Media Office August 10, 2024.

Here's some articles of Dinarian interests... - Who Bears The Responsibility For The Mistakes Of Government Projects? -Alsumaria Publishes The Dollar Exchange Rates In The Iraqi Stock Exchanges Today. -Al-Sadr Calls For Boycotting American Products & Those Supporting The Israeli Entity: Peacefully, Not Through Violence. -Government Advisor: Adopting Budget Schedules Has Become A Reality & Does Not Affect Financial Obligations. Treat as rumors. Not verified. Your opine. FROM OTHER SOURCES: Who Bears The Responsibility For The Mistakes Of Government Projects? ARTICLE: Since PM Mohammed Shia al-Sudani announced the implementation of projects, including plans to relieve traffic congestion in the capital, Baghdad, the construction, building of bridges & overpasses, & widening of streets have been marred by many shortcomings & errors, which led to some of them being repaired shortly after their opening, or details being added to them, which raised several questions about the priority of speed of completion at the expense of quality. However, observers considered the matter, despite that, a step forward in the reconstruction process. Regarding these errors, economic researcher Mustafa Akram Hantoush points out that “the occurrence of some errors does not affect the good service construction & development movement of Baghdad Governorate & if errors occur, they can be addressed and what the government has done regarding the bridges issue can be considered an achievement because if it were not for the current trend, the Baghdad Municipality would not have built any of these bridges.” Hantoush believes that “the Iraqi government is very good with regard to bridges & some issues related to infrastructure. In fact, we have never seen anything similar from previous governments. The Baghdad Municipality often received money to transfer it to replacing sidewalks on an ongoing basis, so no bridges or gates were built.” It is noteworthy that the PM announced at the beginning of 2023 the commencement of a package of projects, starting with supplying residential areas on the outskirts of Baghdad & slums with infrastructure, including sewage, water, electricity & road paving networks, while launching a plan to relieve traffic congestion, which includes the construction of a number of bridges & overpasses & the expansion of many streets. For his part, political analyst Hassan Fadel says, “Some of the failures that occur in completing the projects implemented by Al-Sudani’s government are not directly borne by the government, nor by Mr. Al-Sudani himself, but rather are primarily borne by the Ministry of Construction & Housing, because it is necessary to evaluate the companies implementing the project according to standards set by the ministry before approving the bids of the implementing companies.” “Among these criteria, this company must have implemented similar projects & possess the capabilities, tools, experts & engineers. This means that the company submitting the bid has previous experience in similar projects, is it a company that has been working in this field for years, does it have sufficient experience or is it a new company & what is the nationality of this company? These criteria & others must be taken into consideration to avoid these mistakes in the future,” Fadel added. “The PM is trying to fix what was spoiled by years of government failures, but all the projects undertaken by the current government fall within its duties & cannot be considered achievements, because the achievement is the realization of huge strategic goals such as the development road & the Grand Faw Port, which can be classified among the huge strategic achievements & projects if they are completed,” he added. “As for building bridges & factories, these are routine procedures that every government in the world undertakes & they cannot be classified as achievements. Rather, building bridges & overpasses is the duty of the Baghdad Municipality & the Ministry of Reconstruction & is within their powers & sometimes there may be a simple intervention from the PM, not a large-scale intervention,” He added,“but because of the situation in Iraq & the nature of the circumstances it has suffered, the government was forced to intervene in such small projects that are of lower responsibilities in order to speed up completion & achieve a solution to the problem of traffic congestion & bottlenecks, & therefore these projects are not considered achievements.” The General Traffic Directorate had previously announced the closure of the Cordoba Bridge in central Baghdad for maintenance purposes, four months after its opening, in addition to the completion of the Rustumiyah Bridge in Baghdad without channels to drain rainwater. The Federal Integrity Commission had previously announced the failure of most of the electronic gates in parking garages in Baghdad & the governorates, after costing the state about eight & a half billion Dinars. Regarding the malfunction of these electronic gates, legal expert Adnan Al-Sharifi comments, “What is related to the malfunction of the electronic gates is either due to poor equipment or exposure to electronic hacking or sabotage by an agent. If it is a sudden malfunction, this is a normal thing that may happen anywhere, provided that the materials of these gates are equipped & implemented according to good controls, contracts & specifications. However, if it is due to an agent, the investigation will reveal his identity & he will be referred to the competent authorities.” He continued, “As for the poor quality of the projects, it is divided into two parts. The first is the poor quality of the plans, quantity schedules, & engineering specifications, which is the responsibility of the party that carried them out. The second is the poor quality of the implementation, which is due to the collusion of the resident engineer, the supervisory authorities & the receiving committees. All of these bear full responsibility for the intentional damages & will be held accountable in accordance with Articles 341 & 340 of the Penal Code & as the results of the investigation show. -Alsumaria Publishes The Dollar Exchange Rates In The Iraqi Stock Exchanges Today. Alsumaria News publishes the ER of the Dollar against the Iraqi Dinar in the local Iraqi markets for Tuesday, July 30, 2024. The Dollar prices decreased with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 149,000 Dinars for every 100 Dollars. As for the selling prices in the exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 150,000 Dinars, while the purchase price reached 148,000 Dinars for every 100 Dollars. On February 7, 2022, the Council of Ministers announced its approval to amend the Dollar ER to 1,320 Dinars per Dollar. For about a year, specifically since the CBI began operating the electronic platform & the international financial transfer system “SWIFT”, the Dollar ER in Iraq has not witnessed stability despite the government and the CBI’s attempts to control the ER in parallel markets. -Al-Sadr Calls For Boycotting American Products & Those Supporting The Israeli Entity: Peacefully, Not Through Violence. The leader of the Shiite National Movement, Muqtada al-Sadr, called today, Monday, for boycotting American products and goods that support the Israeli entity, while stressing the need not to use violence as some parties that want to destroy Iraq are doing. In response to a question directed to the leader of the Shiite National Movement, which read: “What is your advice to all Muslims & Iraqis in particular regarding boycotting American goods & goods that support the usurping Zionist entity, in support of the people of Gaza in particular & Islam & humanity in general?” Al-Sadr said the following text: “Yes, all believers in the Palestinian cause, all lovers of humanity & all those who reject the mass massacres taking place in Gaza & all those who reject the terrorist Zionist entity, its actions, crimes & terrorism & its master, America, the great evil occupier who hates peoples, should boycott all products that support Israel, America, colonialism & the unjust global arrogance that is trying to make the world a village in its hands like a toy… Boycotting them inside & outside Iraq is an act that pleases God Almighty & even pleases our consciences as Muslims & lovers of humanity & peace… All of this is done through a peaceful boycott by not selling, not buying, or even using them & not using violence as some parties do that want to destroy our beloved Iraq & benefit personally & partisanly from that in: #We are all boycotting.” -Government Advisor: Adopting Budget Schedules Has Become A Reality & Does Not Affect Financial Obligations. The financial advisor to the PM, Mazhar Muhammad Salih, confirmed today, Tuesday, that the Budget Schedules have become a reality & issuing instructions is a procedural matter that does not affect financial obligations. Saleh said, in an interview with the Iraqi News Agency, followed by “Al-Eqtisad News”, that “the legal basis for the current fiscal year 2024 is a matter that has been legislated & approved primarily, based on the provisions of the Federal General Budget for the years 2023, 2025, 2024 issued by Law No. 13 of 2023, which was published on June 26, 2023 in the Official Gazette.” He explained that “what is stipulated in Article Two / 77 of the law includes the executive authority submitting the financial tables for the two fiscal years 2024, 2025 to enable the House of Representatives to approve them sequentially,” noting that “this was achieved in the fiscal year 2024.” He pointed out that “the three-year Federal General Budget was applied for the first time in the country, which was based in its approval on one of the articles included in the provisions of the Federal Financial Management Law No. 6 of 2019, as amended, which authorized the work of a financial plan consisting of a General Budget for three fiscal years.” He added that “the legal options available to implement the provisions of the Federal General Budget have become more flexible for the federal financial authority, in addition to the availability of the federal financial management law itself, which allows financial transactions even if any approval of the General Budget formalities is delayed in principle, especially allowing continued spending or disbursement on investment projects approved in the three-year General Budget as ongoing projects, as well as operational spending, or any financial transactions stipulated in the three-year general budget law.” He added, “Despite this, the adoption of the financial tables for the current fiscal year 2024, which were approved by the House of Representatives earlier this year, has become a reality & issuing instructions for their implementation is a procedural matter that does not affect the obligations of the fiscal year itself, as these instructions are in all cases consistent with the emerging financial transactions when issued.” He added that “the Ministry of Finance announced earlier this month the issuance of financial bonds (achievement bond) as a source of financing for the Budget by borrowing from the local financial market worth 1.5 trillion Dinars,” stressing that “spending on operating expenses such as salaries, pensions, social care, debt services & others is ongoing, in addition to the continued financing of ongoing investment projects & those under implementation.” He pointed out that “all of these activities are financial activities in which spending has not stopped, which is consistent with the legal work rules that came with the three-year federal general budget, with high flexibility, transparency & governance.” He noted that “the instructions for implementing the General Budget Schedules for the fiscal year 2024 will touch upon some of the developments & partial financial transactions that have been created or adapted & not the faculties of public finance & that the financial activity in the country with its three pillars: revenues, expenditures & deficit management is proceeding in a consistent & harmonious manner & in accordance with the objectives of the three-year General Budget Law & that the executive & legislative authorities are in continuous communication & high coordination to ensure the achievement of public interests without interruption.

Here's an article of Dinarian interests... There's Trouble In River City. Is The CBI Leading Iraq Towards An Economic Crisis? Corruption & costs over runs are rising CBI operational expenses. Is CBI cooking the books or does it have two set of books? Treat as a rumor. Not verified. Your opine. FROM OTHER SOURCES: Is The Central Bank Leading Iraq Towards An Economic Crisis? July 22, 2024 Last updated: July 22, 2024. ARTICLE: A Financial Report Reveals & Reality Confirms… Is The CBI Leading Iraq Towards An Economic Crisis? Informed sources said that the financial policy of the CBI faces sharp criticism from financial experts & economic observers, amid a continuous rise in operational costs & a noticeable increase in expenditures. According to the financial situation tables as of 6/30/2024 published on the CBI’s website, the financial statements show that there is a clear imbalance. The financial report revealed a slight increase in total assets, which reflects an apparent stability in the bank’s financial performance. However, the financial statements showed some points that call for criticism & questioning the effectiveness of the financial management of the CBI. The report indicated that gold reserves rose to 14,672,164,921 thousand Iraqi Dinars from 14,475,189,559 thousand Iraqi Dinars. Although this strengthens the bank’s position, the question remains about the adequacy of these reserves in the face of potential economic crises. As for the bank’s balances with banks outside Iraq, they increased to 2,011,145,122 thousand Iraqi Dinars from 1,827,075,442 thousand Iraqi Dinars, which reflects a diversification of assets, but the question remains about the risks associated with relying on foreign banks. -Foreign currencies: witnessed a noticeable increase to 24,688,182,816 thousand Iraqi Dinars from 23,838,913,348 thousand Iraqi Dinars, which enhances foreign exchange reserves, but how these reserves are managed effectively must be monitored. In terms of expenses, currency issuance expenses increased to 10,588,686 thousand Iraqi Dinars from 9,897,229 thousand Iraqi Dinars, raising questions about the effectiveness of managing issuance costs. -Foreign currency valuation differences: also increased significantly to 188,168,707 thousand Iraqi Dinars from 151,874,481 thousand Iraqi Dinars, which indicates fluctuations in the value of foreign currencies that may negatively affect financial stability. Also, general administrative expenses increased to 52,643,698 thousand Iraqi Dinars from 39,692,228 thousand Iraqi Dinars, which reflects an increase in operational costs that need to be carefully reviewed to ensure that resources are not wasted. In terms of profits & losses, interest & commission income increased to 2,968,280,621 thousand Iraqi Dinars from 2,495,021,601 thousand Iraqi Dinars, which reflects a good performance, but the question remains about the sustainability of these revenues in light of the economic challenges. -Total interest expenses: increased to 2,684,950,171 thousand Iraqi Dinars from 2,271,995,595 thousand Iraqi Dinars, which indicates an increase in interest costs that need better management. As for the final Budget, the exported currency rose to 102,311,666,715 thousand Iraqi Dinars from 100,791,930,154 thousand Iraqi Dinars, which may indicate inflationary pressures if not properly monitored. -Bank deposits: increased to 54,434,578,910 thousand Iraqi dinars from 47,851,676,798 thousand Iraqi dinars, which reflects an increase in deposits, but the stability of these deposits in the long term must be verified. -strength point: The report showed an increase in total assets, reflecting the central bank’s apparent financial stability. Gold reserves & external bank balances also increased, which significantly strengthens the bank’s monetary position. In addition, interest & commission income witnessed a significant increase, reflecting a good performance in the bank’s financial returns. -Weaknesses & doubts: Despite the apparent stability, outstanding outstanding debts amounting to 530,499,124 thousand Iraqi Dinars did not change, indicating challenges in debt collection. Administrative expenses also increased to 52,643,698 thousand Iraqi Dinars, which may indicate poor management of operational costs. In addition, CBI transfers decreased to 0 from 5,110,240,000 thousand Iraqi Dinars, raising questions about the efficiency of liquidity management. Finally, the balances of government institutions decreased to 10,750,719,726 thousand Iraqi Dinars from 13,353,688,408 thousand Iraqi Dinars, indicating challenges in government financing. -Recommendations: To improve the financial position of the central bank, it is important to develop effective plans to collect outstanding debts to reduce financial risks. Operational costs must also be reviewed and controlled to avoid any unjustified increase in expenses. It is necessary to establish policies to monitor currency issuance to ensure that unwanted inflation does not occur. Finally, the reasons behind the decline in the balances of government institutions must be studied & the necessary measures taken to strengthen government financing. Based on this analysis, it is clear that the central bank needs improvements in several aspects to ensure actual financial stability and effectiveness in resource management. To view the financial situation table, click here: CBI. https://mustaqila.com/wp-content/uploads/2024/07/البنك-المركزي-العراق.pdf https://mustaqila.com/تقرير-مالي-يكشف-والواقع-يؤكد-هل-يقود-ا/

Here's some articles of Dinarian interests... The Iraq war on corruption intensifies. Treat asrumors. Not verified. Your opine. FROM OTHER SOURCES: Al-Sudani Confirms The Progress Of The Fight Against Corruption. ARTICLE: PM Muhammad Shiaa Al-Sudani stressed the progress of the fight against corruption “in every corner where it hides.” Al-Sudani said in a statement, a copy of which {Al-Furat News} received on the occasion of the blessed Eid al-Adha, “I extend my best congratulations & blessings to our honorable Iraqi People on the occasion of the blessed Eid al-Adha, coupled with my sincere prayers to the Creator, the Almighty, to repeat this occasion for our people in all parts of Mesopotamia.” The peoples of the Arab & Islamic worlds, with more abundance of goodness & the blessing of security and stability & to bestow His victory & mercy upon our patient people in Gaza & to repel aggression from them.” He added, “I turn to the Almighty to accept the good deeds of those who performed Hajj to His Sacred House & to return our Iraqi pilgrims safely, winning God’s forgiveness & satisfaction & enjoying His abundant mercy. He is the best Lord & Helper.” On this occasion, Al-Sudani renewed “the bond of responsibility & covenant, with our people of all categories & sects, to continue work & diligence & to exert efforts & energies, to achieve all the components of our government program, which is a realistic extrapolation of the demands & ambitions of our people & an actual & field response to confront all the challenges & difficulties that stand in their way.” He continued, “Just as we affirm the continuation of our responsibilities towards the sovereignty of Iraq, extending the hand of the law, liberating & developing the economy, bringing about progress & development, creating creative opportunities & combating all social ills & corruption in every corner where it hides, Eid Mubarak & acceptable work & may the Iraqis’ days last in joy & happiness. “Iraq will remain proud & strong under the shadow of its honorable sons & family.” LINK -Iraq Affirms Its Commitment To Supporting International Security & Stability In The Region. Foreign Minister Fuad Hussein affirmed, on Sunday, Iraq’s commitment to its effective role in supporting international security & stability in the region. A statement from the Ministry of Foreign Affairs, received by Mawazine News Agency, stated that “Deputy Prime Minister & Minister of Foreign Affairs Fouad Hussein met with Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, on the sidelines of the peace summit in Ukraine, which was held at the Brukenstock Resort in the Swiss city of Lucerne.” The statement added, “During the meeting, the two sides held in-depth talks on ways to enhance efforts to bring peace to Ukraine & end the war & stressed the importance of enhancing constructive dialogue between the conflicting parties through international mediation & diplomacy & relying on peace initiatives supported by the United Nations.” The statement indicated, “The discussions between the minister & Prince Faisal bin Farhan dealt with bilateral relations between Iraq & the Kingdom of Saudi Arabia, with a focus on ways to enhance & expand bilateral cooperation.” Hussein stressed, according to the statement, that “Iraq is striving to strengthen its efforts in cooperation with our brothers & the international community to achieve security & stability in the region, which reflects Iraq’s commitment to its effective role in supporting international peace & security.” -Iraq Is Preparing To Establish A Project That Will Change The Oil Map. Will It Affect Energy Producers. Iraq’s Budget for the current year 2024 allocated an amount of up to 4.9 billion Dollars to establish a pipeline extending from Basra in the far south of Iraq on the waters of the Gulf, to the city of Haditha, located in the far west of Iraq within the Anbar Governorate bordering Jordan & Syria, which means the return of life to the Iraq project – Jordan, which has been witnessing political opposition inside Baghdad for years, stipulates that Iraqi oil be exported through Jordan to the world via the Mediterranean, given that the project was essentially linked to extending the oil pipeline through two stages, the first to Haditha, which is the longest & the 2nd to enter neighboring Jordanian territory. For years, the project has witnessed controversy over its economic feasibility, in addition to the opposition of political & armed forces & parties allied with Tehran, describing the project as allowing Iraqi oil to reach the Israeli occupation. However, the proposals presented by economists & oil experts confirm that opening a 3rd export port to Iraq will change the waters of the Arabian Gulf & Turkey. It will give Iraq an advantage over Iran & Saudi Arabia in terms of export diversification, especially in times of military & political tensions in the Middle East. Advisor to the Iraqi Ministry of Oil, Ahmed Al-Omar, said that the arrival of the pipeline to Haditha, western Iraq, means that Iraq can transport its oil not only through Jordanian territory & then Aqaba, but also through the Syrian port of Baniyas. Al-Omar added, “The project will change the map of the oil industry and production in the region and give Iraq a great advantage over other oil neighbors.” By approving the amount allocated to start the project, according to the age, the government will begin work on the implementation phase, stressing that Iraqi companies will undertake work on it & the pipeline will be implemented through the Iraqi Ministry of Industry as well. Director General of the Petroleum Projects Company, Ali Ward Hammoud, said, “The Basra-Haditha oil pipeline project is considered one of the most important strategic projects for the movement of oil in Iraq, and it strengthens the economy by enabling the country to export oil through new ports.” He added, “The oil produced from the southern fields is exported through our ports and loading points overlooking the Gulf, which is the only outlet for most of Iraqi oil currently, and with the presence of geopolitical challenges in the region, the Ministry of Oil has taken it upon itself to diversify export outlets, as over the past decade it prepared a study.” -Strategic Project. “For the northern export system, with the help of the most important international consulting companies & developing appropriate plans to develop new export outlets to serve the expansion of oil production in the country through the licensing rounds proposed by the ministry.” He continued, “The Basra-Haditha pipeline falls within this trend. The size of the pipeline is 56 knots & has a capacity to secure the export of two million and 250 thousand barrels per day. It will be manufactured by Iraqi hands & the bulk of it will be manufactured by the Iron & Steel Company affiliated with the Ministry of Industry & it provides new export outlets.” Iraqi oil is transported to European & North American countries, in line with the development road project & the government’s endeavor to make it a global energy corridor, in addition to its role in transporting goods between the East & the West.” He confirmed that “there is an intention to connect the pipeline in the future to the port of Tartous on the Mediterranean Sea, after achieving appropriate security conditions in Syria, through a pipeline established for this purpose & linking the Haditha warehouse to the port of Tartous,” he said. -Iraq Towards New Markets. According to Iraqi political sources, the beginning of the project was in 1983, when the Iraqi & Jordanian sides agreed to extend a pipeline from Basra to the port of Aqaba on the Red Sea, passing through Jordanian territory. At the time, both sides demanded guarantees from the United States so that Israel would not target the pipeline. The sources state that the government of Muhammad Shiaa al-Sudani seeks to start the project as soon as possible, because the pipeline represents a new type of outlet for Iraqi energy exports, specifically oil, & it also provides the opportunity for Iraqi oil to reach new markets in Europe, as well as sustainable & diversified economic gains and financial returns. In addition to participating & investing in international manufacturing sectors. Although Iraq’s financial Budget for the current year included the new pipeline project at an amount estimated at approximately 6.5 billion Iraqi Dinars ($4.9 billion), representatives from Basra Governorate confirmed that they would obstruct the project. Member of the Iraqi Parliament, Hadi Al-Salami, stated, “What is strange about this project is that it was rejected by most of the Iraqi parties during the period of Mustafa Al-Kadhimi’s (previous) government, but the parties themselves currently agree to it & we do not know what the reasons are, especially since information is scarce about it & we do not know “The reasons for the government’s secrecy about it.” Al-Salami explains, “Politicians and representatives in Iraq do not have sufficient information about the pipeline project & we demand to know the economic feasibility of the project from the government’s point of view.” The consultant in international transport economics, Ziad Al-Hashemi, pointed out that “the Basra-Aqaba pipeline project is a strategic project to raise the level of cooperation between Iraq, Jordan & Egypt & to enhance the level of inter-relations, whether political, security or economic & that the passage of the oil pipeline through a regional country like Jordan will not be exploited.” This pipeline is intended to put pressure on Iraq in the future & this will ensure the smooth flow of Iraqi oil flows without obstacles.” Al-Hashemi continues by saying, “The project raises fears that the pipeline will be exploited to supply the Israeli entity with Iraqi oil in response to supposed Western requirements or pressures.” Al-Hashimi added, “One of the problems that the project may face is the refusal by some pivotal regional countries to hinder Iraq’s attempts to diversify Iraqi oil export outlets towards the West, in addition to the security pressures & stability problems that still constitute an obstacle to the completion & success of any Iraqi project, let alone About the possibilities of opening new outlets for corruption inside & outside Iraq due to the high construction costs. In turn, oil expert Kovind Sherwani considered that “the Basra-Haditha oil pipeline project falls within the framework of the 1st phase of a project extending to the port of Aqaba in the Mediterranean, which will provide a new export outlet for Iraq.” He continued, “We also believe that it is necessary to revive the Kirkuk-Ceyhan line, which used to transport up to 400,000 barrels per day, in addition to the investment possibility in transporting Nineveh and Salah al-Din oil, with a capacity that could reach one million barrels per day, which provides export outlets.” A mission for Iraq.”

Here's an article of Dinarian interests... Corruption in Iraq is alive & well. GOI & CBI are trying to get a handle on it. Treat as a rumor. Not verifeid. Your opine. MilitiaMan & Crew: The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI & Militia Man: ARTICLE: There is a massive amount of people being arrested & charged with money laundering & illegal trading of the IQD & the USD. They are trying to get rid of the black market & the Budget distributed.

Here's an article from Dinarland... URGENT: Progress is being made in dealing with corruption. Treat as a rumor. Not verified. Your opine. BLC via TLM724: URGENT: Progress Is Being Made In Dealing With Corruption. ARTICLE: Parliamentary Integrity: The Government is moving in the right direction in dealing with corruption files. The Integrity Committee of the House of Representatives considered on Thursday, that "the Government is moving in the right direction in dealing with corrupt files" Committee member, Duha Al Quaseer said in a statement with the press. "There are many issues that were opened by the current Government which were not dealt with or were previously overlooked"

Here's an article from Dinarland... Iraq clamps down on USD going to Iran. Treat as a rumor. Not verified. Your opine. Paulette: There will be a significant amount of USD going to Iran for imports & this will continue but under the “new mechanism”. ARTICLE: Merchants conducting Legal business can purchase USD for 1320…Who is willing to pay nearly 14% more for their imports at 1530? The Market is clearly still filled with corruption! The Sudani GOI is stating all the right things about taking action against the corrupt that are causing this significant difference in the official & market rates & perhaps this is how they are “smoking out” the corrupt. Time will Tell…it seems the clock is ticking.

Here's an article from Dinarland... The 60 banks in Iraq were money laundering USD to Iran. Iran finds a new loop hole to steal USD out of Iraq. This could set back any short term chances of monetary reform. Treat as a rumor. Not verified. Your opine. Frank26 Boots on the Ground via Firefly: ARTICLE: Today, the US Fed explained more on the the 60 banks & those fake airline tickets that they were selling to us. They're saying more than $150 million was being stolen by these banks. The 60 banks have been busted. Iraq wants to clean up & do what's right so we can reward our citizens but corruption must be dealt with. Didn't I say that was the reason why we don't have the monetary reform, because of corruption in Iran.

here's some more articles from Dinarland... Iraq banking corruption & stealing of funds probes widens. Iraq Politicians may be using foreign banks to money launder. Treat as rumors. Not verified. Your opine. TNT via Tishwash: REPORT: The CBI Stops Dealings With Lebanese Banks. About one week after the decision of the Central Bank of Iraq to stop all transactions between Lebanese banks & Iraqi financial institutions & banks, following the discovery of large suspicions of corruption. Sources in Baghdad revealed the latest results of the investigation conducted by the Iraqi Integrity Commission in Baghdad & the amount of money actually withdrawn. Banking corruption operations are summarized in the transfer of accounts by Iraqi & Lebanese companies & personalities in troubled Lebanese banks to the Iraqi government branches of Al-Rafidain & Al-Rashid Banks in Beirut, in order to withdraw funds through them, in a fraudulent operation involving Iraqi bank employees and officials. KTFA via Samson: ARTICLE: In The Document... A Deputy Reveals That The Ministry of Finance Confirmed The Theft Of (3.7) Trillion Dinars From The Tax Account. A member of the Parliamentary Integrity Committee, Representative, Engineer Ahmed Taha Al-Rubaie, revealed that the Ministry of Finance confirmed that the amounts stolen from the trusts account belonging to the Tax Authority in the Rafidain Bank amounted to (3.7) trillion dinars. Al-Rubaie said in a statement: "The ministry indicated, in its address to our office, a detailed report on the amounts & the parties responsible for disbursing these amounts." He added, "For oversight purposes, we have addressed the Ministry of Finance more than once to clarify the stolen amounts, the parties behind them & the ministry's procedures for exposing the thieves of public money. "The administrative and judicial investigation, confirming at the same time his communication with the judicial and oversight authorities to follow up the details of the issue until the money is recovered and the corrupt are held accountable. Samson: Nassif reveals about a "big theft" of Iraqi politicians' money ARTICLE: A member of the Parliamentary Integrity Committee, Alia Nassif, revealed today, Saturday, a second type of theft, which is related to politicians' money. Nassif said, in an exclusive interview with Mawazine News, that "most of the politicians' money was placed in the banks of Beirut & because of the bankruptcy of Lebanon, the banks also went bankrupt, which prompted the owners of the money to establish a transfer entry from the Lebanese Bank to the Rashid or Al-Rafidian Bank." And she added, "They are filing a lawsuit against Al-Rashid Bank or Al-Rafidain Bank to obtain that money, which led to the banks' attention to those movements," indicating that one of them was in the amount of one million 250 thousand dollars & the other two million & 250 thousand dollars, which the judiciary noticed and stopped the procedures & lawsuits, and some were arrested. Those involved and the file under investigation.” She pointed out that “the defendants held high positions, “Minister of Foreign Affairs and head of a security apparatus,” which amounted to 6 billion dinars.

Here's an article from Dinarland... Al Sudani is serious about cleaning up corruption. Al Sudani targets the most corrupt in Kazemi Gov. Treat as a rumor. Not verified. Your opine. Administrator Bondlady’s Corner via Tlm724: ARTICLE: Why The Central Bank’s Sales Of The Dollar Have Fallen Over The Past Days. The deputy of the state of Law coalition, Mohammed Al-Shammari, attributed the decrease in the central bank’s sales of USD at the currency auction to the new government’s control over currency smuggling & money laundering. Al-Shammari said in a press interview that “the decrease in the central bank’s sales of dollars at the currency auction occurred after the control of all the money that was entering the smuggling & laundering box,” stressing that “the Sudanese made a right start by standing up to all those who were making profits from the sale of hard currency in very high amounts, especially in the recent period. He added that “the features of the product of the work of the new government began to appear through a number of files that were processed in the period following the previous caretaker government”. He pointed out that “there are many officials who have been dismissed or held accountable for all the files that were hacked in the caretaker government headed by Mustafa al-Kazemi”.

Here's an article from Dinarland... Al Sudani to raise the value of the IQD & end corruption. Treat as a rumor. Not verified. Your opine. KTFA via Samson: ARTICLE: Iraq's Premier To Raise The IQD value. "The Iraq government with the help of the CBI, will do it's best to increase the price of the IQD against the USD" Al Sudani, Iraq's premier, said in a news conference on Tuesday. "Tackling endemic corruption is one of the priorities of this Cabinet" he said. "The Iraq government work with other countries to return Iraq's stolen money" he said.

here are several disturbing articles from Dinarland... Corruption in Iraq widens. This comes days after Billions were stolen from ATM hacking. Treat as rumors. Not verified. Your opine. KTFA via Samson: Integrity Clarifies The Circumstances Regarding The Theft Of 3.7 Trillion Dinars. ARTICLE: The Federal Integrity Commission clarified the circumstances that accompanied the news of the theft of more than (3.7) trillion Iraqi dinars from the General Tax Authority & the publication of a book by the Ministry of Finance entitled to the authority. The authority, while talking about the book circulated by some media & social networking sites and issued by the Ministry of Finance entitled the Integrity Commission, stated that the authority confirms that the case has been investigated & is now before the judiciary & it will accompany the information contained in the Ministry of Finance’s book after it is organized according to Minutes with investigative papers and deposited with the judiciary; for the latter to issue the appropriate decisions against the defaulters. She added that the judiciary had previously issued summon orders against senior officials in the ministry regarding the loopholes that led to this major breach & the terrible abuse of public money, pointing out that the letter of the Ministry of Finance, which the authority was surprised to see leaked to the media, reached the authority at the end of the official working day on Thursday, corresponding to the third The tenth of this October, calling on the ministry to investigate the leakage of its book entitled to the commission. The media & social networking sites had published a book issued by the Ministry of Finance entitled to the Integrity Commission regarding allegations of theft of tax deposits deposited in Al-Rafidain Bank amounting to (3.7) trillion Iraqi dinars. Samson: ARTICLE: Human Rights Center: The Amount That Was Stolen From The Secretariats Of The Tax Authority Will Build 4,000 Schools. The Vice President of the Strategic Center for Human Rights in Iraq, Lawyer Hazem Al-Rudaini, revealed that the sum of the two and a half billion dollars that was stolen from the General Authority for Taxes’ trust account in the Rafidain Bank is enough to build 4,000 modern schools. Samson: ARTICLE: Expert: The Stolen Amount Represents The Tax Authority's Revenue For 10 Years. A professor of economics at Basra University, Nabil Al-Marsoumi, confirmed on Sunday that the stolen money from the Tax Authority is equivalent to the authority's revenues for 10 years &is also equivalent to half of Syria's budget A few days after the resignation of the technical finance minister, financial and banking specialist, professor at Harvard University & expert in the World Bank, this man filled Iraq with his white paper & occupied the Iraqis a lot by devaluing the Iraqi dinar exchange rate while trying to reform the Iraqi economy at a time when he was unable to reform his ministry, which it has become the source of corruption in Iraq.

Luigi found these disturbing articles of Dinarian interests... Why it's an uphill battle to tackle Iraq Corruption. Blocs own their own private banks. This allows them to cover up their corrupt monies. This makes it nearly impossible to follow the paper money trail. Corruption may never be tackled in Iraq. Corruption is deeply embedded into their culture. Treat as rumors. Not verified. Your opine. TNT: Tishwash: Article: A Member Of The Coordination Framework Reveals The Parties That Control Private Banks. A member of the coordination framework, Ali Al-Fatlawi, revealed the political parties that own their own private banks & exploit the private banking sector as a front to cover up their corruption. Al-Fatlawi said that “more than 30% of the Iraqi political parties own two or three private banks that they use to pass & classify money & cover up corruption & major theft.” He added, “There are people linked to external parties belonging to political parties who are working to demolish the Iraqi economy & destroy the value of the currency, & this is done with external guidance,” noting that “these parties are Shiite, Sunni and Kurdish, so everyone is involved in this looting process.” He continued, “A certain company has no competitor & is monopolizing the electronic payment market, & this confirms the dominance of a large & influential political party over the company & the prevention of any competitor, since the issue is related to citizen theft. link Tishwash: The Coordinating Framework Reveals What Is Hidden In It's Negotiations With The Kurdish Forces: Bargains Over Oil & Gas. A member of the Al-Fateh Alliance, Ayed Al-Hilali, confirmed that the Kurdish parties bargained over the amendment of the oil and gas law in exchange for agreeing on a compromise candidate for the post of President of the Republic.

Luigi found this article of Dinarian interests... It's not looking good for an RV-RI anytime soon. EID ends, all hopes dashed of a RV-RI at end of EID. Not a suitable time to RV at this time due to corruption. Treat as a rumor. Not verified. Your opine. BLC: Article: The Minister of Commerce, Dr Hantoush, stressed the current situation does not allow to re-reduce the exchange rate against the Dollar & did not provide an suitable platform to re-reduce the exchange rate of the Dollar & return to it's previous era, pointing out that the Minister of Trade & because of corruption does not have the ingredients to re-lower the exchange rate & address the competence of that.

8-23-2020 Intel Guru RayRen98 Weekend UPDATE...SATURDAY - US troops are withdrawing from a base near Baghdad, the base will be turned back over to Iraqi troops on Sunday. A recent audit reveals 11 billion dinar stolen from last Wednesday's currency auction. Al-Kadhimi is at home today. The violence in Basra is lead by Turkish connections. Supposedly, the Sadr group is threatening Al-Kadhimi since his return from Washington.

Luigi asks... Could corruption in Iraq be turning away donors & inventors in Iraq? If so...what must Abadi do to re-gain the donors & investors confidence in Iraq? How will this impact Monetary Reform, the RV? Your opine. 1 Feb 2018 MntGoat... Article: “AL-ABBADI RETURNED DISAPPOINTED WITH DAVOS AFTER HEARING HARSH WORDS“ Quote: “ABADI FACES A GREAT CHALLENGE IN PERSUADING FOREIGN DONORS AND INVESTORS TO WORK IN IRAQ IN LIGHT OF THE SPREAD OF CORRUPTION AND LACK OF POLITICAL AND ECONOMIC GUARANTEES“ Investors don’t want to lose their invest in Iraq by corruption. Maybe they need to move to the currency reform as this too might show sincerity in making progress in the reform direction? It is time to trigger this effort.