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​The House of Representatives votes on the Financial Management Act


yota691
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2 hours ago, yota691 said:

Sources close to the US Treasury Department hinted that sanctions would be imposed on Baghdad if it did not stop the activities of the banned Iranian entities, adding that Americans had a full picture of ways to transfer hard currency to Iran through Iraq and Iranian fraud.

He pointed out that the Americans considered that these operations will harm the Iraqi dinar for the very near future.

 

:backflip:   :backflip:   :backflip:

 

The Bicraqi Iraqi HAVE RECEIVED an ULTIMATUM WITH THEIR FRAUDULENT FINANCIAL ACTIVITIES FULLY KNOWN WITH the Insanians to INCLUDE the Insanian IRGC!!!

 

:backflip:   :backflip:   :backflip:

 

NO hidin' NOW!!!

 

Hey, THEY were NEVER HIDDEN TO BEGIN WITH!!!

 

YOU Bicraqi Iraqi BETTER CLEAN UP YOUR FINANCIAL ACT NOW PRONTO TONTO!!!

 

I wonder IF, "these operations WILL harm the Bicraqi Iraqi Dinar" ARE a DIRECT reference TO the corrupt weekday Bicraqi Iraqi CBI DAILY currency auctions TO BE TERMINATED???!!!

 

HOW, pray tell, WILL the Bicraqi Iraqi PAY INTERNATIONAL import OBLIGATIONS WITH NO USD AVAILABLE to be EXCHANGED for "closed" "economy" "internal" "use" Bicraqi Iraqi Dinar???!!!

 

WILL, pray tell, the Bicraqi Iraqi ATTEMPT to stay afloat WITH a NON INTERNATIONAL Bicraqi Iraqi Dinar AND/OR COMPLETELY DRAIN THEIR "foreign" "reserves"!!!

 

Most of ALL, I likie the TERM "VERY NEAR FUTURE"!!!

 

YYYEEEAAAHHH BBBAAABBBYYY!!!!!!!!!!!!!!!!!!!!!

 

I REALLY LIKIE the TIMING of THIS "message"!!!

 

:twothumbs:   :twothumbs:   :twothumbs:

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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2 hours ago, yota691 said:

and determine the responsibility of the Ministry of Finance at the stage of Implementation,

 

First time they are on the dot ( I think)

They had the 1st and 2nd reading last January (if I'm not mistaken).

Now the law has been voted.💃

 

Next is the implementations.....and that is the responsibility of Ministry of Finance.

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2 hours ago, easyrider said:

in another article i read it was finalized. So.. im just guessing here that it may be done?

 

Hi easyrider, long time no see. Hope all is well with u my friend..

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perlaman-new.jpg

Decisions of the session of the House of Representatives .. These details

https://www.shafaaq.com/ar/سیاسة/مقررات-جلسة-مجلس-النواب-هذه-تفاصيلها/

2019/05/23 08:45:58
 

The vote of the House of Representatives in its 21st session, held under the chairmanship of Mohammed Al Halbusi, the President of the Council on Thursday and the presence of 194 deputies on the Financial Management Law and ended the first reading of the first amendment to the law of elections provincial councils and districts.

At the beginning of the session, the Council agreed to allow the representation of Christian, Azadeen, Shabak, Sabean Mandaean and Faily Kurds in the Committee of Martyrs, Victims and Political Prisoners in addition to their work in their main committees.

The Council voted during the session chaired by the First Vice-President of the Council, Hassan Al-Kaabi, on the draft financial management law submitted by the Finance Committee in order to regulate the rules and procedures governing the financial and accounting management in the field of planning, preparation, implementation, Federal revenues to the public treasury to cover public expenditure and to determine the link between the internal control units in terms of administrative and technical mechanisms and the implementation of budgets and committed each implementing party and determine the responsibility of the Ministry of Finance at the stage of (Budget transparency, the comprehensiveness of the budget, the budget unit and the budget year) in the preparation and implementation of the federal budget and related matters, in order to achieve macroeconomic stability and financial stability and enhance the allocation of resources. To improve the efficiency and effectiveness of expenditure, to ensure optimal cash management and to improve the quality of budget information submitted to the House of Representatives and to the public.

He called on the Legal Committee to expedite the legislative procedures of the Federal Court Law, taking into consideration the decision of the Court to revoke one of the articles concerning the appointment of replacements to the judges of the Court and to avoid the constitutional vacuum.

The Council ended the first reading of the draft law of the first amendment to the Law of Provincial and District Elections No. 12 of 2018 submitted by the legal committees and regions and governorates not organized in the province in order to reduce the requirement of age in the candidate for elections and to ensure a fair distribution of seats between the lists and to balance the right of the member of the winning list to withdraw from the list and The right of the list to which it belongs, in its stability as a single list and to ensure that this does not affect the formation of the local government.

Also star Jabbar Abbas was sworn in as a member of the House of Representatives instead of MP Ajyal Karim after the Federal Court reversed the decision of the House of Representatives based on the objection submitted by Star Jabbar and solutions Ajyal Karim for membership of the Council for the province of Dhi Qar.

Edited by 6ly410
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1 hour ago, 6ly410 said:

Halabousi is directed to proceed with the legislative procedures for the adoption of the Federal Court Act

Political | 06:48 - 23/05/2019

 

image.png.622c58e721ba889a3492aa4f7ca0d476.png

https://www.mawazin.net/Details.aspx?jimare=48086

BAGHDAD - Mawazine News 
The President of the House of Representatives, Mohamed Halabousi, on Thursday, to proceed and speed up legislative procedures; to approve the Federal Court Law, and the second reading of the draft law in the next session. 
The Information Office of the Speaker of the House of Representatives, in a statement received / Mawazine News / a copy of it, that "at the request of the Federal Supreme Court of the House of Representatives to legislate an alternative article within the law of the Court before the Council; in view of the existence of a legal vacuum and legislation, Article (3) of the law issued by the National Authority Legislative Decree No. (30) of 2005, which states: The Federal Supreme Court consists of a president and eight members are appointed by the Presidency Council on the nomination of the Supreme Judicial Council in consultation with the judicial councils in the region, Is provided for in paragraph ) Of the forty - fourth article of the State Administration Law for thetransitional period. "
The statement continued: "The President of the House of Representatives, directed to proceed and speed up legislative procedures; to approve the law of the Court long-awaited, and address the constitutional vacuum; pursuant to the provisions of Article (92 / II) of the Constitution, and the second reading of the draft law in the next meeting."

 

Damned if that’s not a Betty Boop coloring book “ Boosi “ is fiddling with. He shows good taste ! :twothumbs:

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5 minutes ago, DinarThug said:

Article From March ...

 

 

Parliamentary move to raise the price of the dinar and maintain the stability of inflation


Wednesday 20 March 2019

Baghdad / Omar Abdul Latif

 
 
The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary and monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.

"The committee will move during the current legislative term towards changing the fiscal and monetary policy in the country in general," said member of the committee Abdul Hadi al-Saadawi, Coming ".

He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."
link
 
:o 
 
:D  :D  :D  
 

 

This Is An Article From 2 Months Ago In March ... 

  

  

Parliamentary move to raise the price of the dinar and maintain the stability of inflation


Wednesday 20 March 2019

Baghdad / Omar Abdul Latif

  
  
The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary and monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.

"The committee will move during the current legislative term towards changing the fiscal and monetary policy in the country in general," said member of the committee Abdul Hadi al-Saadawi, Coming ".

He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."
link
 
B)  B)  B) 
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24 minutes ago, DinarThug said:

This Is An Article From 2 Months Ago In March ... 

  

  

Parliamentary move to raise the price of the dinar and maintain the stability of inflation


Wednesday 20 March 2019

Baghdad / Omar Abdul Latif

  
  
The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary and monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.

"The committee will move during the current legislative term towards changing the fiscal and monetary policy in the country in general," said member of the committee Abdul Hadi al-Saadawi, Coming ".

He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."
link
 
B)  B)  B) 

 DT...Thanks for bringing back the oldies....I do so like that article! It would seem that while we slept last night that they did "finalize the finalize" That very bill....Praying implementation comes soon!

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30 minutes ago, DinarThug said:

 

A DV Cruise Where We All Get Completely Ship Phased ! :o 

 

cruise ships fail GIF by Cheezburger
 
:D  :D  :D 

 

On a side note, that clip is from when the Concorordia sank after ripping a hole in its side and sinking.

 

  Ok back to our regular scheduled dinar chatting !  :)

 

  pp

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3 hours ago, Synopsis said:

Sources close to the US Treasury Department hinted that sanctions would be imposed on Baghdad if it did not stop the activities of the banned Iranian entities, adding that Americans had a full picture of ways to transfer hard currency to Iran through Iraq and Iranian fraud.

He pointed out that the Americans considered that these operations will harm the Iraqi dinar for the very near future.

Washington warns Iraqi banks from monetary transactions with Iranian banks.

%D9%85%D9%85%D8%B5%D8%A7%D8%B1%D9%81-768

Shatha Khalil *
Most countries seek to work within a precise and cautious system in monetary and banking transactions because they directly affect the economy of the state. It is the backbone of the economy of any country. It helps to generate capital and thus can be directed to investments that need a stable economic environment for growth and development. Banking system in Iraq is weak and needs a lot of reforms to serve the Iraqi economy, not to serve other countries.

The warning came during a visit of the Assistant Secretary of Treasury for the fight against the financing of terrorism, Marshall Billingsley , to Baghdad and his meeting with the three presidencies in the country, they were informed of the work to expel the Iranian banks (“Percian” and “Melli Iran”) and stop banking and monetary transaction with them, and the need to liquidate the Bank of Iraq, which is subject to US sanctions, against the background of the transfer of suspicious funds to the Lebanese Hezbollah.
Billingsley, when he met with the finance minister and the governor of the Iraqi central bank, they were told that the Iraqi funds “oil revenues” kept by the DFI Fund and transferred to Iraq each year worth 8 billion dollars in the form of cash that their value will be reduced to an unknown number. Information (especially for the Rawabet Center for Research and Strategic Studies)
Marshall Billingsley has provided Iraqi officials with a list of Iranian companies and banks that circumvent sanctions across Iraq and has warned that Iraq could be severely punished if it continues to provide safe havens for Iran’s banking activities and to overlook Iranian banks and companies with Iraqi fronts.

He stressed the need to develop the Iraqi banking sector and enhance the prospects for cooperation between Iraqi and US banks, and to carry out economic reforms through the activation of electronic systems in monetary exchange, and contribute to the development and revitalization of the infrastructure of the Iraqi economy.
In this context, Care must be taken in dealing with Iranian banks, which are working to exploit the hard currency in Iraq and turn it into Iran, and that monetary and banking transactions with banks which are subject to sanctions have a direct impact on the Iraqi economy.
The Iraqi economy since 2003 has not fully recovered after the sectarian incidents and the war against the organization ISIS and the liberation of Iraqi cities, as any tension or conflict will negatively affect the market and economy of Iraq, and the political situation in the Middle East is worrying and threatening economic and political security.
But Billingsley stressed that the developments in the political scene in the region and the measures taken by the United States to impose sanctions on the Islamic Republic of Iran are far from the bilateral relations between Iraq and America, especially in the fields of economy and finance. The agreement with Washington was to continue cooperation to protect the Iraqi economy and ensure its stability from any repercussions in the region.
Baghdad stressed its desire to resolve the outstanding problems by peaceful means, diplomacy, dialogue and negotiations, because any tension or conflict will affect negatively on all countries in the region, especially Iraq, and this will adversely affect the economy and the Iraqi market as it depends heavily on the import from the Iranian market, here we wonder when will the Iraqi economy rise (rich with resources and wealth ) and achieve economic independence and sustainable development at all economic levels and be independent and free and works for its own benefit first and not for the benefit of other countries.

Iranian banks wrap around the Iraqi economy to save itself :
The Iranian banks have been operating in Iraq for nearly ten years in the days of Maliki’s government in 2010 and are an important engine for trade between Iraq and Iran. They have branches in Baghdad, Najaf and Basra. They gave commercial and personal loans and provided banking services to Iraqi tourists, and most importantly are the Iranian branches : Persian and “Melli Iran” Bank.
In light of the bankruptcy faced by the branches of the Iranian banks in Iraq, “This requires urgent intervention by the Central Bank of Iraq, and comes the failure of work or bankruptcy because of US sanctions on Iran, and the difficulty of obtaining hard currency.” The orders were announced to the two banks, To implement the guardianship
Iran is exploiting the hard currency and is working on decisions that protect its interests only and are used and exploited and depleted the Iraqi economy, ie after the decline of Iranian exports to Iraq during the recent period, because of the difficulty of paying the value of exports in foreign currency and converted to Iran, in a new step decided the Central Bank of Iran to branches Iranian banks in Iraq to transfer the value of dues instead of cashiers, as the value of Iranian exports to Iraq during the past ten months about $ 7 billion and 515 million dollars.
The Iraqi-Iraqi Chamber of Commerce said that Iraqi importers had in the past paid foreign currencies to Iraqi bankers in order to turn them in to the Toman and pay the dues of exporters in Toman, while the Central Bank of Iran decided that the branches of Iranian banks in Iraq to replace the cashiers in such a process.
This means that the Iranian exporter can receive the dinar or dollar from the Iraqi importers and handed over to the branches of Iranian banks in Iraq, to receive Tuman instead of it at the price of discharge that day in Iran.
As the economic expert Abdul-Hassan al-Shammari stressed , that Iran is witty in the exploitation of the hard currency in Iraq, where it has been able to develop mechanisms to withdraw foreign exchange of Iraq and gave a very large interest rate exceeding 22%, as it benefit from hard currency to save its national currency, which deteriorated because of US sanctions.

The Iranian currency suffers from fluctuation and instability in price because of the economic embargo imposed on Tehran recently, these are all factors in Iran helped to attract foreign funds to deposit in its banks, conditions are easy and there is no complexity so that money can be deposited in the name of the owner of the money and not in the name of someone else , Iran benefits from this as it attracts the dollar and converts it to the Tuman, at the expense of the Iraqi economy and citizen.

Economic Studies Unit
Rawabet Center for Research and Strategic Studies

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